What To Do When Nothings New Five Strategies For Success

What To Do When Nothings New Five Strategies For Success

What To Do When Nothing’s New: Five Strategies for​ Success
Look at​ that throng of​ people crowding the​ trade show floor .​
People come from all over the​ country to​ walk these aisles, eager eyes flitting from booth to​ booth, scanning the​ exhibits for…what, exactly?

Research shows that the​ vast majority – 76% -- come to​ trade shows to​ discover what’s new and​ exciting .​
Maybe it’s a​ new product, or​ an​ innovative bit of​ technology, or​ a​ snazzy new application, or​ even an​ entire company that they were never aware of​ before .​
In an​ ideal world, every company would be constantly innovating, creating cutting edge products at​ phenomenal savings guaranteed to​ meet the​ customer’s needs.

But as​ you and​ I​ know, business doesn’t work that way .​
There are years when companies struggle to​ survive .​
Other years, it​ takes every ounce of​ effort just to​ maintain market position .​
And still other times, things might be fine, but the​ newest innovation is​ six, twelve, even eighteen months on the​ horizon.

Is it​ even worth exhibiting during these times? Do the​ results of​ participating in​ a​ trade show while your company’s in​ a​ lull phase justify the​ costs?

Absolutely! In fact, it​ is​ precisely at​ these times when not participating could hurt your bottom line .​
Businesses rise and​ fall based on the​ strength of​ personal relationships .​
There is​ no better place to​ form new relationships and​ maintain and​ reinforce existing relationships than at​ a​ trade show .​

To do this, you need to​ create a​ positive impression with your exhibit .​
Demonstrate something new and​ exciting .​
Give the​ people what they want .​
How can you do that, you ask, when you don’t have any new and​ exciting products?

Here are five focus strategies the​ pros use when they’re in​ a​ similar situation:

1 .​
Focus on Features:
Purveyors of​ high-tech or​ complicated products often don’t realize how little consumers know about the​ items they purchase .​
For example, take the​ average word processing program .​
It has countless features – yet how many does the​ everyday user know about, much less use? Realize that your buyers may not even know what they don’t know .​
Here’s an​ opportunity to​ offer seminars, tutorials, or​ other interactive options centered on the​ more obscure features .​
This way, you’re demonstrating that you value your customers and​ want them to​ make the​ most of​ your products/services .​
You could win their loyalty for​ life.

2 .​
Focus on the​ Future:
if​ the​ next big innovation is​ in​ sight, but you’re not ready to​ spill the​ beans just yet, you’ve got an​ ideal opportunity to​ create a​ buzz .​
Some of​ the​ most effective excitement generating campaigns say little, if​ anything, about the​ new product, yet still create an​ impression that something noteworthy is​ about to​ happen .​
Signage, graphics, and​ literature all declaring It’s Coming! let the​ public know that you’re excited about the​ new product – and​ that they should be too.

3 .​
Focus on Finesse:
is​ there a​ way to​ make your product new and​ improved? You’ll sometimes see this technique that I’ve called the​ Proctor & Gamble strategy .​
Every so often, you’ll see a​ new and​ improved version of​ a​ product introduced – laundry soap, shampoo, deodorant, and​ so on – yet you’d have to​ be a​ chemical engineer to​ notice any discernable difference between the​ old product and​ the​ new one .​
Still, consumers flock to​ the​ new, even if​ it’s only slightly different than the​ product they were previously satisfied with .​
If you can’t change your product, what about the​ packaging? Glidden changed their paint can while still keeping their actual product, the​ paint, the​ same as​ it​ ever was, and​ saw sales rise as​ a​ result.

4 .​
Focus on People:
Great products wouldn’t exist without great people .​
Consider putting a​ human face on your operation by centering your latest exhibit around the​ people who make, test, or​ use your product .​
Post Cereal, Reynold’s Wrap, and​ NAPA auto parts have all used this strategy successfully during periods when their product line was fairly static – and​ then carried the​ idea forward, altering it​ as​ needed to​ introduce new products!

5 .​
Focus on Service:
Many times, we’re asking buyers to​ make a​ huge investment to​ buy our products .​
If something goes wrong, the​ buyer worries that they will be left holding the​ bag on a​ very expensive mistake .​
Reassure consumers that they’ll never be alone if​ there is​ a​ problem .​
By promoting service plans, support networks, and​ other types of​ assistance, you’re demonstrating that you’ll be there for​ your customer – through thick or​ thin!

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