Do you feel like a mackerel when you walk into the convention exhibit halls in Las Vegas during NACE? It seems like there are hundreds of anglers aiming to hook your checkbook and sharks trying to take a bite out of your wallet. In other words, there are sellers in every exhibit working to get your business.
If you know what those sellers are thinking and what they’re going to do next, you’ll be a much more effective buyer. Here’s a look at what’s going on in the sales rep’s head and some tips on how you can bring home the best deals. Several factors affect the process; most of which can give you an edge.
Trade show buying factors
Time is the biggest factor for both the buyer and the seller. The sales rep is under pressure to sell as many prospects as possible once the floor opens. You can always skip an event to gain some time, but the rep needs to make every minute count.
On the other hand, you don’t have time to play “hard to get.” This is a good negotiating ploy normally, but is a waste of time at a trade show. If you intend to be a buyer, say so.
Information and who has it is another factor. You know how big your orders could be, but the rep doesn’t. You know what the competition has offered—the rep doesn’t. It’s the seller’s job to pry this information out of you and, to serve your own ends, you’ll probably give some of it up—but you control the flow.
Then there’s the turf factor. The convention hall lobbies, restaurants and aisles are yours. When you step into an exhibit, though, you’re on the seller’s turf. They outnumber you. They know the staff, have access to private rooms and control the key to the freebie vault. The offsetting advantage you have is that you can escape at any time.
Buy-sell transaction stages
Most buy-sell transactions occur in stages. The first thing the typical salesperson will do is to try to qualify you. The time factor is at work here, because the seller wants to deal only with those prospects that intend to buy today or in the near future.
You will be asked a few questions to determine whether you are a “tourist,” a tire-kicker or a buyer. A tourist is just passing through. When asked if he or she needs some help, a tourist will say, “No thanks—just looking,” or something to that effect. Unless you want to waste time tracking down a salesperson later, avoid these types of phrases.
A tire kicker is someone who won’t buy right now but may in the future. A rep will want to spend only as much time as it takes to get contact information and hand you a brochure. If an immediate buyer walks into the exhibit, the seller will drop the tire kicker and go to pursue today’s order.
To keep the salesperson’s attention, imply that you might place an order today and ask plenty of questions to display your interest. You may have to deal with the rep’s attempts to close a sale, but that’s easily handled by saying “No.” Finally, don’t just give the sales rep your card when you leave. Get his or hers, too, and give them a specific time to contact you. It’s only fair that you give them some hope of a sale after you’ve taken up their time.
You will be the center of attention, of course, if you tell the seller you’re there to place an order.
When you’re qualified as a buyer, you enter the “needs” analysis stage of the process. The salesperson will want to know several things about you beginning with whether you are the final decision-maker or a decision-influencer who will make recommendations to someone else.
What do you need?
Among other things, the rep should try to determine your needs for his or her product line. Is it replacing an existing line or are you restocking? Are you adding a new line? Do you want to upgrade to a higher price point or expand your offerings? In other words, what are you trying to accomplish by making this purchase?
The seller will want to know the potential size of your order, of course, as well as when you intend to place it. A good salesperson will probe to find your “hot buttons,” or the criteria like price, delivery date, terms, etc., that you will use to make a decision.
The temptation is great to play games during this stage—to withhold information or play hard-to-get. You may want to stall for time later, but it’s best to cooperate now. After all, you need to qualify the seller and product line, too.
Unfortunately, many reps have been trained to push their company’s newest product regardless of what the customer actually needs. This is a huge time-waster, so don’t hesitate to interrupt and ask them to present only the lines that meet your needs. It’s your money on the table, so you’re in charge.
When the seller offers a product you like, be straightforward about any obstacles that might prevent you from buying it. Don’t offer objections just for the sake of objecting. Instead, make sure you’re very clear about what information you still need. It is your responsibility to learn everything you need to know to make an informed purchase—and the rep’s to provide it.
The ‘end game’
One of the great advantages of buying at NACE is the huge number of vendors. Any given product category will probably have dozens of vendors and suppliers competing for your business as you walk the aisles of the Mandalay Bay Convention Center.
Ask the rep who’s trying to close you’re sale for the offer in writing, and then go see his or her competitors. If he won’t put it in writing, take notes yourself and confirm the details with him or her before you leave. That way you know you’re comparing apples to apples and the rep knows that he or she better offer you the best price right now—you may not be back otherwise.
Once you’ve done your comparison shopping, go to the supplier you’ve chosen and move into the final stage, placing the order. Here you can use all the factors—time, information and turf—to your advantage.
Begin by asking the rep if the previous offer is as good as he or she can do. Tell him or her you’ve gone to “X” number of his competitors and you want to review the offers before making a final decision. Don’t report a fictitious counter-offer, because a good seller will know the competition’s price range and detect a bluff.
Stand near an exit from the exhibit to signal your willingness to walk away. Keep the escape option open especially if the seller takes you into a “closing room” and/or calls over a manager to help close the deal.
Finally, make an offer you’d be comfortable accepting (not a ridiculously low one—that may blow the work you’ve done) and ask to place the order right now. You’ll be surprised how often your offer is accepted. And the worst that can happen is you get the original deal, which your shopping has shown to be the best anyway.
NACE is a great place to make good deals, especially if you know how the seller’s mind works. You can shop among dozens of competing vendors, see new equipment and supplies, watch product demos and do hands-on testing.
You may even pick up a free T-shirt or two to go with your great buy.
