Participating in local events as a vendor can be beneficial for small businesses. Events can help introduce your business and products to the local market that you are trying to target and grow in. The more events you participate in, the more recognizable your business becomes. Growing your brand and recognition leads to the most important goal of increasing revenue and profits for your business. Here are several things to keep in mind when participating as a vendor.
Preparation:
As with most things, good preparation can lead to great success. Before securing a space at an event, complete your due diligence and make sure that you and the event will be a good fit for each other. Then, you can cater the inventory you bring to ensure that you can offer products that fit well with the event and attendees. Provide easy ways for customers to pay. Have a cash option and bring sufficient change. You should have a card reader and consider a direct electronic payment option such as Zelle or Venmo.
Marketing:
Promoting your participation at an upcoming event can lead to a significant increase in sales. The use of social media and email marketing can be effective ways to generate awareness and interest. Take advantage of any marketing that the event may be producing and participate if it could bring more awareness of your business. Invest in signage or banners that you can reuse. Provide business cards that customers can take with them and order from you in the future. Offering promotional pricing for the event can aid in converting sales on the spot.
Presentation:
A neat and appealing presentation of your products can convert passersby into paying customers. A well-organized and properly lit layout of products makes it easy for customers to see and choose items they are interested in. Make sure your products are clearly marked with pricing. If appropriate, small samples are a good way to demonstrate your products. Personal presentation is also a huge factor in attracting customers to your space. A clean and professional look is always appealing. Don’t be afraid to wear clothing that has your business’s branding as long as it’s appropriate for the event.
Pricing:
Finding the most effective pricing can be a tricky task. Underpricing your products cuts into your profit margins, while overpricing can reduce your sales volume. The best way to find the sweet spot is to conduct research of the target market and determine the amount that those customers are willing to pay. Think about offering products that could fit into different price points to help capture sales from all budget ranges.
Engagement:
There is a fine balance between not engaging enough and being overwhelming to customers. Try not to do anything that might distract you from them. Stand in front of your booth to be able to greet customers and offer any assistance. Don’t feel the need to hover. Give customers time to absorb your products and offerings and be attentive when they have questions or needs.
