How to Sell to Niche Markets
Selling to Event Planning Businesses
Leading event planning businesses understand the value of every dollar. Here's the list of tips you need to boost sales to event planning businesses around the country.
Penetrating the world of event planning businesses can require complex sales and marketing strategies.
Leveraging the strength of the market, entrepreneurs are knocking on the doors of the marketplace, eager to earn their share of the profits. Competition can be tight, so new businesses have to be careful about the way they approach event planning businesses.
Marketing, Promotions & PR
Emerging B2B businesses are often tempted to buy their way into the market. Rather than taking the time to develop relationships with event planning business owners, these companies unleash an avalanche of high-priced marketing content in hopes of scoring fast conversions from buyers.
Marketing is useful and necessary. But new businesses should channel their energy toward initiatives that support their value proposition. Although lead lists obtained from third-party vendors like Experian can improve the flow of prospects to your team, the effectiveness of your marketing efforts is limited to your team's ability to connect marketing, promotional and PR messaging with your company's unique product traits.
Cost Analysis of Your Selling Tactics
Every part of your sales strategy should be targeted for cost analysis. Business owners sometimes ignore cost considerations and instead, choose to invest in sales strategies that fall short of ROI expectations.
For example, even though it might seem logical to increase the size of your sales force to expand your base of event planning business customers, the additional labor overhead may be an inefficient decision from a cost analysis perspective.
In a perfect world, you want your sales force to be self-motivated to perform at a high level. But to encourage constant improvement, consider offering sales incentives to sales reps that exceed event planning business sales targets.
Incentives don't have to be pricey -- sometimes a simple, affordable incentive that recognizes a team member's performance is more valuable than an expensive incentive that lacks recognition or prestige.
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