Today we're talking all about wholesale trade shows. You can watch it here or read below.
So what is a wholesale trade show?
A wholesale trade show is a temporary marketplace that's anywhere from two to five days in length. It's a place where retail buyers and sellers come together.
Most trade shows are at convention centers in large cities, and the attendees (the non-exhibitors) are limited to members-of-the-trade or legitimate buyers. The show management works to protect the exhibitors from competitors who are not potential buyers.
Wholesale trade shows are not for amateurs.
Trade shows are expensive to do, but they are worth it if you're ready.
What do you need to do to get ready to exhibit at a trade show?
You need to have a product line large enough that it makes a statement so that the retailers want to buy from you. You also need packaging that looks professional and could be displayed in a retail environment.
Your marketing needs to be completely different than craft fairs and retail shows.
You need to set your booth and displays to cater to retail buyers. Design your booth to look like the displays would in a retail store to help the buyer see how your products would look in their stores.
A successful trade show can make a lot of money if you're in a good location and prepared.
Make sure you plan it out well. Make sure you have a good line assortment, that your pricing is right, and that you can execute and deliver on time.
I've been to trade shows where I've done really well. I've also been to trade shows where it's been a colossal flop. Different things can make the traffic at the trade show slow.
I went to a show in Dallas once that was a flop because of the weather. There were ice storms and nobody could get to the show. But I've also been to trade shows and exhibited where I've written an order as large as $97,000, but that's not always the norm. The large orders come when you have the horsepower to work with the bigger accounts.
I have also exhibited at trade shows where I've had a million dollar PO (purchase order) from a big box retailer. However, that was something I had been working with the buyer on for a while. The buyer came to the show to see our products all displayed as they would be in their store. We worked together at the show and we laid out their assortment for their stores for the entire year.
Trade shows vary in size and success. Make sure that you are ready when you start doing them because wholesale is the quickest way to scale your business.
It is important that you get systems and structure in place before you start exhibiting at wholesale trade shows.
You must be able to deliver the orders you receive.
The wholesale gift shows are typically held two to four times a year in the big cities where there is a gift mart. The big ones in the U.S. right now are Atlanta, Las Vegas, Dallas, and New York. The smaller regional shows are in L.A., Denver, Seattle, Columbus and several more.
Milan, Frankfurt, Melbourne, Tokyo, Hong Kong and China also have big international shows.
Please tell us in the comments are you ready to wholesale at trade shows?
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You got great products. You've taken photos and completed great product descriptions for your online store. You've launched your website to the world and you're waiting for all those sales to come flooding in....right?
News flash...sales don't come flooding in. The average conversion rate for eCommerce shops is between 1-3% of traffic. It takes work! Today on The Visibility Show Stephanie and I talked all about how to get more sales online. You can catch the entire show here.
Here are a few of my favorite tips from the show.
1. Increase Online Sales By Offering Multiple Payment Options
Okay, so your business takes credit cards. What about PayPal? Apple Pay? Google Wallet?
Our customers have so many choices these days we need to make paying with us as easy as possible. By offering more payment options including the newer, popular mobile options you're making it easier for prospects to give you their money.
2. Increase Online Sales By Reducing Shopping Card Abandonment
More than 70% of eCommerce shopping carts are abandoned by shoppers before they check out, costing online retailers millions in revenue each year.
By using an abandoned cart saver you can send a series of customizable emails to shoppers who leave during the checkout process. Just turning on an abandoned cart saver helps recover 15% of lost sales on average and as high as 50% for some shop owners.
3. Increase Online Sales By Having A Call To Action
You're driving traffic and getting sales, but you want more. The average conversion rate of 1-3% that most eCommerce shops get isn't enough. There is a secret to increasing conversion rates.
What is the secret to increasing conversion rates?
It's a call to action or CTA as it is know in the industry.
CTA's are buttons throughout your site that tell your customers what to do, where to click and what to buy. Having a clear call-to-action on every page will increase your sales. You already have the NO - ask for the YES with a call-to-action button.
4. Increase Online Sales By Adding Trust Badges To Checkout Page
Let your customers know it is safe to checkout with you. It is important for customers to feel secure. With rising online fraud becoming a problem for eCommerce sites it is more important now than ever to have trust badges. Below are a few examples of trusted badges.
To hear the rest of the tips on how to increase your online conversions and sales, head on over to The Visibility Show here. Make sure you mark your calendar for every Thursday at 3:00 p.m. EST to catch our show every week here.
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Small business owners usually want one thing, right? More sales. You can have the best products in the world but if people don't know you exist....you won't stay in business long. I have partnered with one of my best business buds to bring you The Visibility Show.
The Visibility Show with Steph and I is a live, weekly show for small business owners that are ready to play big...really big. And surround themselves with a like-minded community of entrepreneurs eager to do the same.
Timely, tested and terrifically fun, we share proven tips and tactics that make your ideal clients like, know and trust you.
Join us every Thursday at 12 PM (PST) 3:00 PM (ET) We live stream live each week here.
We all want to increase our sales and grow our business. Today we are talking about ways you can do just that. You can watch it here or ready below.
We are always looking for new people to buy our products, right?
People don't buy products. They buy the results that your product gives.
You need to make sure that you are marketing your product with the benefits it delivers. For example, my husband sells a product that is an odor eliminator.
He markets his products to police officers to use on their bulletproof vests because they can't wash them. He is selling the solution to the stinky vest. He is not selling an odor eliminator.
He is solving their problem. The police officers come home, their wives don't want the vests in the house because they stink so bad.
Just spray the product on the vest and it no longer stinks. His product is selling a solution.
What is the solution that your product solves?
Next, identify who your ideal customer is, and what the problem you are trying to solve.
Clearly, with my husband's business, it's police officers, or military, or anybody that wears a bulletproof vest. So there's the ideal customer, and the problem he's solving is the stinky vest. It can even go further, like the stinky squad car or gear.
Who is your ideal customer, and what is the product that you are going to solve for them?
If you market directly to your ideal customer you're going to have a far greater chance of success.
You've identified the problem, you've identified the customer. Now you want to figure out what is your competitive advantage?
What is your competitive advantage that is different from all your competitors?
For example, my husband's competitive advantage is that his products are all natural. It doesn't have any harmful chemicals in it, it's non-toxic and it's safe enough for kids and pets.
This product is clearly different than anything on the market, and that is his competitive advantage.
Use the resources you have that are free for marketing.
Social media is great for using hashtags that can draw in new customers as they search for a solution for their problems.
For example, using my husband's product again... think about the hashtags #lawenforcement, #bulletproofvest, #kevlarvest.
How you can you attract new customers that are searching for things relevant to your business using hashtags?
Use testimonials in your marketing.
Work on getting testimonials from your current customers you already have. When potential customers are looking for you, they like to verify, "Hey, this person's legit, this person's really good. They do what they say they're going. The product does what it says it's going to do."
Show and share the humanistic side of your business.
Share the human side your business. I know it's scary to get in front of the camera. Don't be afraid to get in front of the camera and let potential customers know who you are. Let them see the humanistic side of your business. It moves the know, like, and trust factor along faster.
So there you have it, lots of strategies for growing your product based business.
If these tips helped you please share it with your friends that could benefit from them.
Blogging is one of the best ways to drive traffic to your website. Blogging is also one of the biggest hangups for product-based business owners. They don't know what to talk about and they think they don't have anything to share with the customers. Today we are talking about ideas you can blog about as a product-based business owner.
Watch it here or read below.
Blogging is one of the best ways for the know, like, and trust factor for the customers to get to know you. Today I'm going to give you several ideas that you can blog about, as a product based business owner. I would love to see you all start blogging. It's great for SEO, and it's great for driving traffic.
Your startup story
Share why you started your business. Also, share how you got your business going. What the idea was, and what drove you to start the business.
Meet the owner
Tell your customers all about you as a person individually. Let them see who you are, and what you do personally.
Behind the scenes
People love a behind the scenes sneak peek. Let them see you making the product. Let them watch you picking and packing the product to ship it. Let them see inside your workspace and the ins-and-outs of your day at work.
I have a friend who owns a chocolate company. Chocolate Johnny, he owns the company Perfection Chocolates in Sydney Australia. He does such a phenomenal job on the behind the scenes, and showing inside the factory and the chocolate being made. If you're not following him, you should go check him out. He is doing a great job of behind the scenes.
Do a tutorial of how to use your products
Show your products in use, share all the things that your product does and how to use it.
Share your top sellers and what the other customers are buying. Let your customers see what the fast moving items are for you. People love to know, it helps them make a decision quicker.
Let your team talk about their favorite products you sell and how they use them. It gives your team recognition as well as focusing on your products.
Customer success stories.
You can highlight one of your customer and how they use your products and what they like about it. The customer can share how your product solved a problem for them.
Do a Q & A
You could take questions that you're getting through your customer service and answer them. You could literally have Q & A be a blog post every week if you get a lot of questions from customers.
Take about a cause you support
Another thing you could talk about is a cause that your business is behind. You could talk about the cause, and how your business supports it.
Hopefully I have given you some good ideas to blog about and you can get started blogging.
-Make a list of all the things you can blog about in your business
-Share with us in the comments what you are going to blog about
What you'll get:
A FREE PDF of 16 ways to market your business.
A plethora of fabulous information and actionable tips sent to your inbox from me.
A lot of good vibes your way from a human being who genuinely wants to see you succeed in your product-based business.