Planning to Sell at Trade Events
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Transcript of Planning to Sell at Trade Events
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This guide will help you exhibit and sell your designs at trade events. It
contains information on;
Aims and expectations
Making a plan and a budget
Selecting display stock
Pricing for retail
Tips and checklists
For further information on this topic, read Preparing to Attend Trade
Events
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Trade events offer opportunities to
• reach, sell to and network within these industries,
• meet potential retailers / stockists, the public consumer,
journalists, reviewers, industry buyers, similar
businesses (and any potential competitors),
• view and assess 'your' industry and markets, as well as
• offering inspiration and new ideas.”
Jon Barnes, Product Design & Photography adviser
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“A huge global market can be easily and quickly accessed by
attending and / or exhibiting at select trade fairs, which are
targeted directly at your market sectors.
Introduction
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Trade events are a big investment of money and time so be clear
about what you hope to achieve.
Piers Roberts of Designersblock advises checking your investment
against the following motivations; skills, profile, rewards and
relationships.
Try using his headings to analyse what you hope to gain.
Aims and expectations
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Rewards
New stockists and orders
Acclaim and praise from designers
you respect
Relationships
Introduction to designers, new
customers and retail buyers
Discussions with buyers about their
requirements
Put a face to the name of existing
buyers
Skills
Dealing with customers
Confidence in selling and talking
about work
Profile
Profile new work and get feedback
on new ranges
Establish presence at a key industry
event
Increase stockists in a particular area
Contact press for new season
ranges 4/40
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The resultant lists will help you establish some measurable goals,
e.g. 5 strong connections (leads) with new stockists in new regions,
orders from 2 of the 6 stockists you’ve been courting over the last 3
months, repeat orders from existing stockists to the value of £2000.
You can then plan what resources you need in order to reach those
goals.
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There are many different types of events covering different territories.
Selecting the right event is essential.
It’s worth doing preliminary research and visiting as an attendee before
investing in taking a stand. Check it’s the right environment for your
products and attracts the right type and number of customers to whom
you want to promote and sell.
You can also get an idea for the look and feel of the event and its
exhibitors, and the work you need to do to set out your stall so it makes
an impression.
Making a plan and a budget
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A timeline can help plan your event. Map out –
• the tasks you need to do
• the resources you will need to gather and
• the time it will take.
A mind map of the tasks can be a good way to start.
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List the resources you will need, (e.g. people, facilities, time, materials,
equipment), against each task…
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… from which you can identify items which have a financial value.
These items will form a budget.
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£
Exhibition Grant 3,000
Own Contribution 4,928
Total Income 7,928
Stand Fees
Stand Hire 3,000
Insurance 200
Electrical 300
Storage 250
Display 1,000
4,750
Other costs
Materials/Samples 500
Transport 500
Staff 500
Publicity materials 750
Postage 50
Food 200
Original research trip 300
2,800
Sub total Expenditure 7,550
Plus 5% contingency 378
Total Expenditure 7,928
£0Net Surplus/-Deficit
Income
Expenditure
Example budget
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Be careful to check what any trade fair stand offers in terms of its
position within the 'show', its floor-plan, lighting, power supplies and
other peripherals.
What is supplied or is available at extra costs?
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Don’t expect to recoup all your costs in orders and sales at your
first event, particularly if this is your first major bit of promotion. A
trade event is just one type of promotional tool which should
reinforce all the other marketing and relationship building you’re
doing.
It’s usual for buyers to familiarise themselves with you and your
products over an average of three events / meetings before
committing to purchase.
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At trade events, try to offer a range of products and price points whilst
maintaining a coherent identity for your work and ensuring that there
isn’t an overwhelming amount of choice on display.
One way to identify the most appropriate stock to display and include in
your price list is to plot your products on the following grid.
Selecting display stock
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how many availability exclusivity competition
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The distinctiveness axis helps you assess the number of exclusive and
multiple pieces you have on offer within your collection or range. It also
helps you assess the pieces that differentiate your products from other
stands and should be given prominence to draw interest.
The market price axis helps you assess the spread of price points
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Next, plot the position of the stockists and agents with whom you are
hoping to work. Identifying
• the price brackets in which they work
• the range of mass market to exclusive items in which they deal
Ask yourself
• What is the optimum number of stockists over a geographical area
for a design?
• Can you offer the retailer exclusive ranges / colourways / finishes?
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The context and way in which you present your work can also affirm or
add to its value.
Are there things you can do to improve the perceived value through
presentation, packaging and point of sale materials?
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Once you have identified all your available products, you will need to
consider which work to present.
Ask yourself whether you have the motivation, skills, suppliers, cash
flow and investment required to fulfil orders for the chosen items.
You may want to include some items to draw interest rather than sales
orders. For instance, an item in an unusual colour or in a large scale
might enhance your display and attract customers who order quantities
in a safer scale and colour for their outlet.
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Prices fall into the following categories;
Retail or selling price – the price the customer pays you if you are
selling direct, or to shops and gallery outlets. This will include a retailer’s
mark up. At trade events, this is the Recommended Retail Price (RRP).
Trade or wholesale price – the price the retailer or stockist pays you
for your product.
sale or return price – the price a retailer pays you once they’ve sold
your product. This figure should be greater than the wholesale price as
you are carrying the risk and stock so the retailer should get a smaller
mark up.
Pricing for retail
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The retailer’s mark up can vary considerably and depends on the types
of items they are selling and the type of outlet they operate, e.g.
independent retailers (having lower overheads and marketing costs)
might put 100% plus VAT onto the wholesale price whereas chain stores
may mark up by 300% plus VAT.
So it is important to establish how much mark up they will put on your
products to see if they can operate within your recommended retail
price and whether your wholesale price is prohibitive to working with
some retailers.
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100%
mark up
200%
mark up
300%
mark up
Wholesale price £40.00 £40.00 £40.00
Retailer’s mark up £40.00 £80.00 £120.00
VAT within retail price £16.00 £24.00 £32.00
Retail price £96.00 £144.00 £192.00
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Can you make savings by producing and / or shipping orders in bulk
and therefore make the wholesale price more attractive for large
orders?
Are some products too expensive to deliver as single items and
therefore require a minimum order amount?
A wholesale price list should be available to retailers with the unit costs
and minimum orders detailed.
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Tips and checklists
The following points have been gathered from speakers at previous
Cultural Enterprise Office workshops sharing their preparation tips.
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Selecting the right event
• Trade fair indexes and online directories can help to clarify the
types, locations and calendars for trade show events particular to
your industry and market.
• Use more than one as a resource, e.g.:
www.biztradeshows.com
www.eventseye.com
www.tradeshows-biz.com
www.mytradefairs.com
tradeshows.esources.co.uk
b2btradeshows.net 27/40
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• Get to know your 'best' industry events through media,
recommendations, reviews and the markets.
• Ask recent (similar) attendees how various relevant shows worked
for them.
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Stock
• Don’t sell any of your samples; keep a complete set.
• Have a variety of price points.
• Make sure your stock is insured on site, in storage and in transit.
• If exhibiting overseas, choose reliable freighters and shipping agents
and check they have all the relevant customs / import documentation
for your work.
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Stand display
• Prepare your stand 'fit-out' well in advance. There are tight
schedules for stand installation and for break-downs. Don’t have
a physical barrier between you and the buyer.
• Keep your display simple and minimal.
• Maximise space especially vertically.
• Have some display elements above head height so they can be
picked out over a crowd.
• Keep the look of your stand (and you) consistent so that buyers
recognise you at subsequent events. 30/40
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• Use a high stool to maintain eye level with buyers and double as
surface to rest paper work.
• Have plenty of spotlights and spare bulbs.
• Keep your stand clean, tidy and dust-free.
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Visuals
• Brochures and print material
• PR info, press cuttings, display cards
• Consider using vinyl display text.
• Computer display / website
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Paperwork
• Order book
• Mailing list
• Wholesale price list
• Brochures and print material
• Business cards
• Press packs
• Diary for checking lead in times and delivery dates
• Plenty of pens
• Stapler, staples and sellotape
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Staffing the stand
• Take water
• Comfortable shoes and clothes
• Someone to give you a break
• Get them to hold the product in their hands and imagine
that it’s theirs
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Wholesale price list
• Only give to trade customers
• Always take a business card in return
• Pro forma invoicing for new customers
• 28 day payment standard practice
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Orders
• Duplicate Book or pre printed sheets and carbon paper attached to
clip-board
• Customer details
• Your details
• Date of order
• Date of delivery and delivery address
• Product information
• Both parties sign 36/40
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• Minimum orders and shipping costs
• Monitor where, to whom and for what you are giving exclusive
selling rights
• Don’t expect all orders at the event
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Note book
• Record comments from / about (potential) buyers next to business
card stapled to page as an aide memoir for follow up phone calls
• Notes on the day’s events to inform product development and future
events
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Licenses
• If approached about the rights to manufacture, promote and sell a
product, don’t be pressured to sign there and then.
• Find out what they are offering you and what terms they are seeking
to work under -
• Exclusive, non-exclusive
• Fixed term, perpetual
• Geographical scope
• Minimum sales / production runs
• License fee and / or royalties.
• After the event, do your homework about them and seek
professional advice.
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For further information on this subject, please refer to the
following resources:
Costing & Pricing Work
An Introduction to Retail
How to Approach a Retailer
Preparing to Attend Trade Events
Next steps
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Disclaimer: Cultural Enterprise Office is not responsible for any advice or information
provided by any external organisation referenced in this document.