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Digg It - Selling at Trade Shows - Secrets of Success
People attend trade shows because they want information, continuing education credits, to meet friends or connect with colleagues…but definitely not because they want to “be sold” on a product or service in the exhibit hall. If you want According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product to make a sale, you need to think like your customers. Here are the six simple secrets to help you succeed. First, try to get a booth on an end or near a doorway that will get lots of traffic. Then do whatever you need to do to get the ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in booth noticed. This includes a professional display, professional dress, balloons, giveaways (or at least great candy!), and other attention-getters. You should have plenty of business cards and brochures easily available about your ser lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. vice or product. A large door prize, invitingly displayed, next to a glass bowl, invites attendees to drop their business cards in as a way to quickly enter a drawing. Some conventions ask vendors to swipe attendees’ credit card-like ca here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe rds instead. Keep small pads and plenty of pens nearby for those who have not business cards left or prefer not to use them. Second, prospective customers usually come in groups, and often are in a hurry on their way to a convention se d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ssion or meeting. Keep your presentation down to four or five well-chosen sentences. Here’s a script to try.The first sentence is a “hook”, asking about a problem the person may have. “Do you have too much to do in too little time at w ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc ork?” is one possibility. The second sentence names the product and tells the primary benefit to the buyer or user. “The fabulous __________ saves you two hours a week!” The third sentence tells how this product is unique or better tha easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi the competition. “This is the ONLY (best, lightest, original, etc) product on the market that _____________.” The fourth is the probe, asking “what would you like me to tell you about this super product?“ Then listen carefully, and answ nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically er specifically the requested information. Lastly, issue the “call to action” : sign here so we can send you information on this, step up and try this for yourself, etc. Try to include some alliteration in your presentation, to help peo and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ ple remember your product. Examples of alliteration include “time tested”, “simple secrets” and “washable woolies”. Many ads or product names include alliteration to increase recall. Your primary goal with this presentation is to make ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi the prospective customer aware of your product, and to get his or her name so you can follow up by e-mail, direct mail or telephone call. The exception to this is if you have a very inexpensive or small product that people may buy on th ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a e spot. Fourth, make sure the display has the primary benefits (not features) of the product, written in big letters. Benefits include saving time, money or steps in a process, increasing convenience or providing desired options. How d dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod oes this product or service help the user? Features include such details as the colors, styles, dimensions or number of speeds of the product. People who cannot get close to your table to hear in the crowds will be reading the informati cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin on. Prospective buyers who cannot hear well, due to a hearing loss or the noise in the room, will appreciate this. Other people are visual learners, and learn better through seeing than hearing, anyway. They will also benefit. Fifth, tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ring a personal voice amplifier along to make your voice louder in the noisy exhibit hall. This saves your voice from unnecessary stress and increases the chance that attendees will hear you. This device, costing approximately $150, is t? As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel the same type worn by aerobics instructors and features a lapel mike or headset mike and a transmitter that straps around your waist, allowing total portability. Bring a bottle of water along as well, to make sure you are well hydrate ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust d so your voice can be as effective as possible, with or without the personal voice amplifier. Sixth, try to engage those passersby who show the slightest interest in your product or service. Stay in front of your table, not behind it, y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products and establish eye contact with them. Then smile enthusiastically and greet them. Remember this is their first time connecting with our company, even if it is your 1000th customer you are greeting, and make a great impression! Prepare fo . As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de r common sales objections, Objections indicate some level of interest. Teach all staff how to handle the objections skillfully. Mostly, though, you will just be building name awareness. Lastly, follow up with all the names and contact i elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip nformation you received! It may take up to seven follow-up contacts, over a period of months, before some interested people will respond, so keep at it. Trade shows can be great for business. Careful communication can make a difference tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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