1. 4 basic rules of Products quality, Place, Pricing and Packaging.
2. Marketing budget
3. Advertising budget
4. Unique Selling Proposition or USP
6. Advertising media
7. Online advertising budgets including advertising directories
8. Getting professionals to write good advertising copies
Now, before we go into all that we should take care to first do market research. After all, why should we even launch a product if we are unsure about the market response?
Market research is one of the most valuable selling tools a show organizer has. Up to the minute, accurate market data arms you with the type of valuable information you need to sell your show to potential exhibitors, including who is attending your show, how well your exhibitors did at last year show, and what type of sales numbers resulted from participating in the event. Savvy exhibitors those that can contribute meaningfully to the success of your show will want to know this type of information.
Any information you provide to potential exhibitors must be both timely and accurately. Unfortunately, hiring a market research team, especially on an annual basis, can be an expensive proposition. Doing market research yourself can be time consuming and frustrating. What if there was a way to streamline the process, making it effortless and efficient for both you and your customers?
Enter the Internet. Trade show organizers have been woefully behind the curve when it comes to exploiting the Internet potential for market research. As the Online Expo becomes more and more of an industry presence, it is imperative that show organizers incorporate Web based elements into traditional shows to accommodate exhibitor needs, especially as they pertain to market research. The transition to a more virtual society has creating an expectation of instantaneous, accurate information an expectation that we need to meet if we are going to survive.
Here are five techniques you can use to meet this expectation:
Constantly Gather Information
Market research is not a once a year phenomenon. The dynamic nature of the marketplace means that new exhibitors are constantly setting up shop, while other companies that have exhibited with you for years may run into financial difficulty. Use Google or other new alert programs to email you when any of your exhibitors make news their prosperity or lack thereof may affect your show. At the same time, monitor news related to your show location, the demographics related to likely attendees, and other items of interest.
Make a commitment to reach out to your exhibitors at least quarterly via your Web site or targeted emails. Invite recipients to participate in a poll, answer a survey, or give feedback. Many will, especially if the poll, survey, or feedback form is quick and easy to navigate. This gives you a steady stream of data throughout the year.
Invite Open Communication
Exhibitors and potential exhibitors should always know how to reach you. An easily navigable website is a must for all businesses, but imperative for show organizers. Consider having direct links to frequently asked questions easily found contact options, and even live help via Email chat for the crunch time just before the show.
The above are only a few pointers on market research. You should be able to come up with a more comprehensive research checklist for your company and product. Once proper research has been done you would be more confident in launching your product in the market. This is followed by marketing campaigns, both off line as well as online.
And once you have done that, always remember to list your products and company in as many online directories as possible. There are many paid sites as well as free sites. Pay more attention to paid sites as the traffic is higher compared to free sites.
One of the reasons is that paid sites attract more professional and serious entrepreneurs and customers. Also, free sites have many limitations such as space. You are often online given space to put in text and very limited space to upload images of your products. Of course they will allow you to do that at extra cost.
Therefore, go for paid advertising directories.