Getting Results
How To Use The "Pepsi Challenge" to Capture Market Share At Your Next Trade Show Or Conference Event
Pepsi’s biggest problem was that everyone already knew what Coca Cola tasted like. Believe it or not, your best conference and trade show prospects are ignoring you for the same reason…
The new season of “The Food that Built America” is a fantastic show: there’s drama, conflict, emotion, and lots of fascinating stories about the brands we see almost every day. It’s both inspiring and entertaining.
And there’s some mind-blowing lessons on business strategy too - real stuff you can use right now.
We just finished the episode on the “cola wars.” We all know the story of the “Pepsi Challenge,” where Pepsi sent people into shopping malls and street corners, asking people if they could tell which cup had Pepsi and which had Coca Cola by taste alone.
At the time, Pepsi had about 7% market share compared to Coca Cola (which had 92 of the other 93%).
Why? Because Coke was the original cola drink, and it never occurred to people to change. They never tried Pepsi. They didn’t even know how it tasted, and they didn’t care because they knew they liked Coke.
And that's why the Pepsi Challenge was so powerful. It grabbed people's attention, and it said, "hey, try this." And when they did, about 52% decided they liked Pepsi better - which immediately cut into Coke's market share.
So how does this apply to your presence at trade shows and conferences?
From an earlier post, you’ll remember the three most valuable prospects you can meet at a trade show or conference:
People who currently work with you and are happy.
People who work with your competitor.
People who used to work with you.
These are the people who can buy stuff that will move the needle in your business.
But there’s a problem.
Just like the Coca Cola drinkers, those three groups of people have no reason to talk to you. Your current clients don't know that you can sell them other things they also need, so they think they're "happy." Your competitor's clients are "happy," too, so they don't need you. And your prior clients think they're "happier" without you.
They aren’t going to come to your trade show booth. They aren’t going to attend your customer hospitality event, and they definitely aren’t coming to your webinar or virtual conference.
It’s not that they don’t need what you sell or want the outcomes you offer - the problem is that they’ve already decided that they don’t need to talk to you about it.
And if you can’t have a conversation, you’ll never have a sale.
So you need a "Pepsi Challenge.”
You need something that grabs your prospects attention, focuses attention on your brand in a memorable way, delivers a simple message that opens your prospects' eyes to a specific problem they probably didn’t know that you solve, and offers a clear call to action that explains how your prospect can get the outcome they want.
Our clients do that with magic and mind-reading, but there are probably dozens of other ways you can capture attention, engage your prospect, and deliver a message that makes them want to start a conversation with you.
Is this a bold statement? Does this break the rules of sales or marketing?
Not at all, really. It’s what I’ve been doing with my clients for decades, and it’s what my mentors and coaches taught their clients to do for decades before that. It’s a simple, proven, repeatable formula.
You know who really hates this? You know who calls it “unsportsmanlike” and “rude” and other negative labels?
Companies like Coca Cola. The big, established players who are successfully dominating the market by keeping their valuable clients focused on them, so they never even think of changing.
Go get ‘em.
If you’re open to a conversation about what you’re doing at trade shows and the hospitality events you’re sponsoring, the results you’re getting, and how you know you’re successful, I can share what other companies in your particular position have done and the results they’ve achieved. You can schedule a short phone call here.
How to Watch a Virtual Event (Without Staring into Your Phone, Table, or Device!)
Probably the most irritating thing about virtual events is their limited viewing capability. Most people watch them alone because it’s hard to get two or more people gathered around a device.
We figured out a better way…
Probably the most irritating thing about virtual events is their limited viewing capability. Most people watch them alone because it’s hard to get two or more people gathered around a device.
Using your “screen cast” or “screen mirroring” capability on your device, you can broadcast the virtual event to your WiFi connected television, and enjoy the event with your family just like watching TV at night.
We recommend putting your tablet or laptop on an ottoman or coffee table in front of the family during the event, so we can see you while you enjoy the show. When you’re invited to participate in the event, just unmute yourself and you’re ready to go!
This is so successful our clients have actually begun hosting “viewing parties” at their homes - their friends bring the drinks and pizza, and they provide the incredible virtual entertainment!
Here’s a quick video that explains how it works…
If you’re open to a conversation, I’m happy to explain what other companies like yours have done with their virtual events and the results they’ve achieved. Just contact the office through the button below.
Entertainment in the Post-COVID19 World - Engage, Amaze, and Entertain - Safely!
In the re-opening, how will you entertain, amaze, and engage your clients without spreading the COVID19 virus?
Entertainment in the Post-COVID19 World
Engage, Amaze, and Entertain - Safely!
Our clients are already asking - “how can we keep our guests engaged in our event and create a memorable experience and still prevent the spread of COVID19?”
I’ve spent a large part of the last three months designing and rebuilding our very successful “Magic With Your Mind” show. I am not a doctor or an immunologist, but using publicly available information from the CDC, NIH, and WHO, I have created a show that blocks all the typical ways COVID19 spreads.
We can all have fun, build rapport with our key clients, and create an incredible experience our guests will be talking about for years to come - without anyone getting sick.
Check out the video-blog below:
Mike Duseberg creates “COVID19-Safe” magic and mind-reading experiences for your next conference, meeting, association event, or club event.
When you’re ready to start planning your next event, contact our office at (561) 596 3877 or email contact@magicmeansbusiness.com