How To Use The "Pepsi Challenge" to Capture Market Share At Your Next Trade Show Or Conference Event

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.

Seven Reasons to Host a Hospitality Event During a Trade Show

Trade shows are the best face-to-face sales and marketing venues in the world.  Thousands of current clients and future prospects are gathered in one place, and they’re all focused on industry-wide problems that your company solves.  The sales and marketing activity doesn’t have to stop when the show floor closes, however.  

Hospitality suites and customer events represent a largely untapped opportunity.  Everyone is going to eat dinner, go out for drinks, and probably seek some kind of entertainment - why shouldn’t your best clients and prospects do that with your sales team?

Whether you’re hosting a huge party for a thousand guests or a simple, off-site dinner for your closest clients, here are seven reasons you should do some kind of a hospitality event during your next trade show:

1. Building Rapport - People buy from people they know, like, and trust. The biggest advantage you can give your salespeople is the opportunity to build real rapport with your clients, so they can cross the threshold from “salesperson” to “friend and trusted advisor.” That’s hard to do in a sales call or on the trade show floor, where everything revolves around a “buyer/seller” mentality. At the hospitality, we’re here to have fun and relax together, which lets your sales team connect with your prospects as friends.

2. Convert Your Competitor’s Customers - Successful hospitality events introduce guests to new venues, new food and drink, and new experiences. Research shows these events are “mind opening” - when we try new things and enter new worlds, we see ourselves differently and open ourselves to trying even more new things. By inviting your competitor’s clients to these special events, you open their minds to new perspectives about your industry, your products, and your company. This can help your sales people “get their foot in the door” with clients who would normally be firmly committed to your competitor.

3. Drive Traffic to the Trade Show Booth - Clients need a good reason to stop and engage with your trade show booth staff. By displaying your equipment in the hospitality, mentioning the problems it solves in the welcome speech and on signage, and even integrating these messages into your entertainment, you can help your prospects make a plan to visit your booth and learn more.

4. Set Appointments - In casual conversation at a hospitality suite, your sales team can ask a few casual questions about your customer’s business, identify some pain points, and then schedule an on-site meeting, a phone call, or other “next step.”

5. Referrals - There is no greater referral tool than a hospitality suite. When your best clients bring their friends and colleagues to your hospitality, they are literally introducing these people to your company, your products, and your sales people. It doesn’t get any smoother than that.

6. Make Offers - You could offer a special deal for guests attending the hospitality or trade show, but you can also use your event to offer free white papers and research, complimentary test-drives of software and portal websites, and complimentary need analyses. This could be done as part of a speech or explained on a card or one-sheet in a gift bag. Using opt-in forms, you can tell which of your prospects took advantage of the offer, so you know who your sales team should follow up with and what they should talk about.

7. Show Appreciation - Of course, people do like to feel appreciated. Don’t forget to thank your current customers for their business (while you commit them to a next step).

Hospitality events are a tremendous opportunity to connect with your ideal clients.  Creating a memorable event that connects your sales team to your prospects, positions your sales team for effective follow up, and really drives bottom line results takes strategy and forethought.  

Just released: Mike Duseberg reveals all the “how to” steps to creating events that create sales referrals, and repeat business in his third booklet The Event ROI Revolution: A Planners Guide to Hospitality Events that Create Connections, Build Rapport, and Schedule Sales Appointments. Download your complimentary copy here. 

How To Make Sure Your Clients Remember Meeting Their Sales Rep at Your Hospitality Event

How to make sure your clients remember meeting their sales rep at your hospitality event

If the ultimate goal at a hospitality event is to build relationships with our clients, we need to make sure our clients remember their company contact after the event.  

A client is much more likely to answer a phone call, open an email, and set an appointment with someone they already know, like, and trust.  If they’ve had a meaningful conversation with a sales person during your event, the client is much more likely to answer the call, open the email, or even schedule an appointment. 

In fact, a sales representative is also more likely to call, email, or visit a client they feel like they already know, like, and trust themselves.  They know that a person who recognizes their name and knows what value they bring is much more likely to answer the phone, answer their questions, and have a productive sales conversation.  Events are a great way to prevent “call reluctance.”

So how do you connect your sales representative with the client in a memorable way?

A hospitality event is much different from a trade show booth, and it’s important that both your sales team and your clients understand that this is not a time for selling.  There should be no tension between the client and the sales people - it’s a time to have a drink, dinner, and some fun.  

Before the Event

Assign each client or prospect at your event to one of your sales reps.  The rep should do some quick online searching to find out what he can about their business and their interests.  This is good for conversation starters at the event.  

During the Event

During the event, your sales team should introduce themselves to their assigned prospects and  visit with their current clients.  Name badges will help a lot, and listing both the client’s name and his company will make sure your sales team recognizes their key people (not everybody looks like their picture on social media).

Connecting a new client with a sales person can be awkward.  The last thing a client wants is to hear a pitch.  If your sales representative feels uncomfortable or nervous, the client will feel cornered at your event and want to leave.  

The best thing a sales representative can do is simply ask if the client is having fun, and if there’s anything the client needs.  The sales relationship is built on service and the hospitality event is framed as a “thank you” to your clients.  This kind of question is a logical way to open the conversation, and it drives home the “we want to make you happy” message.  

One successful vice president of sales has built multimillion dollar relationships by simply refreshing drinks and introducing his prospects to people at the party.  He would ask, “have you seen Mike, our magician, tonight?”  If they said no, he would escort me to the table and introduce me to “our valued clients” and ask me to do something special for them.  Personalized service goes a long way to making a powerful impression.

The number of tactics and techniques that your salespeople can use to connect with your clients is enough to fill a short book.  I know.  I wrote one.  For more ideas and examples, message me, and I’ll send you a copy.

At the End of the Event

At the end of the evening, parting gifts and “thank you” are an important part of making the connection memorable.  Remember, we give gifts to our guests because people feel connected to people who give them things, and that makes the people who gave them those things very memorable.

How we give the gift is critical. Rather than simply having each guest take a gift bag or water bottle from a table on their way out, have the sales representatives present their client with the gift as part of the event.  When the guest simply “takes one,” the gift is meaningless. It’s just stuff they take.  When someone says, “We wanted you to have this as a token of our appreciation,” the gift has meaning.  

If possible, put a “bonus” gift (like a white paper, a free sample of your product, a percentage off on their next order, etc) inside the gift.  Have the sales representative say, “there’s something special in there for you, too.”  The bonus is a second surprise, which makes the gift even more memorable.

After the Event

Each sales rep should make notes about the time they spent with the client, anything interesting that happened, and anything they learned about the client during the event.  Then, do some quick follow up - email is fine, handwritten may be appropriate - to carry the conversation forward. Tell them how and when you plan to call to discuss their business challenges.

Conclusion

You can plan a great memory for your guest.  As you're planning your hospitality event, focus on what you want your guests to remember from the event, and what you want them to talk about after the event.  Building these things into your event plan will help your sales representatives create the rapport they need to close more sales.  

In the next post, we’ll explore more ways to build rapport and connection between your sales representatives and your clients during your hospitality event.  

PS:  Don’t forget to download a copy of the booklet on hospitality tactics here.  

Just released: Mike Duseberg reveals all the “how to” steps to creating events that create sales referrals, and repeat business in his third booklet The Event ROI Revolution: A Planners Guide to Hospitality Events that Create Connections, Build Rapport, and Schedule Sales Appointments. Download your complimentary copy here. 

The Blueprint for Client Events That Create Sales, Referrals, and Repeat Business

Probably the smartest copywriting rule I’ve ever heard is “begin with the end in mind.”  As a writer, marketer, magician, father, husband, and golfer, these six words are the secret to getting the important things done.

In the event planning world, it all comes down to “what do you want your guests to do/say/think/feel after the event?”  

And if you’re hosting events for your clients and customers, what you want them to “do” is probably the most important.  Ultimately, you want them to do something that will advance the sale.

That might look like this:

• Answering a phone call from a sales person

• Opening an email from a sales person and replying

• Reading a white paper or info-product, which triggers an automated email or phone call

• Visiting a trade show booth the next day to see a new product

Imagine having a simple, repeatable system for making sure more of your clients actually took those actions after the event.  This is real strategic event planning, and it’s absolutely within the capability of any event planner at any event.

You can encourage a lot more of your clients to continue the conversation through some simple - but critical - components that your business event must have to succeed.  We’ll dive into each step as we continue this series of blog posts, but here is an overview of the process:

First, the event must be memorable.  During a conference or trade show, your clients will attend dozens of events and sessions, and your event must stand out in their mind. The event must be appropriately branded, too, so they not only remember your event but also that your company presented the event for them.

Second, your client must remember meeting their assigned sales representative.  As humans, we are much more likely to respond to people we already know.  If the client recognizes the sales representative’s name, they’re much more likely to accept the follow up call or email.  

Third, your sales representative must build some rapport with the client.  Again, as humans, we’re more likely to respond to people we know, like, and trust.  Your event should help the sales representative move his relationship with the client past “salesman/customer” and closer to a “business friend” or - ideally - “trusted advisor” position.  Rather than simply recognizing their name, the client feels like they “know” the sales representative.  At an event, you can even connect the client to your company’s executives (a very real “we listen to you” message) or product development engineers (imagine your clients knowing “the people who design and build our equipment listen to you”).  

Fourth, there should be an offer and call to action at the event. Generally, this should not be a request for a sale, but rather an offer to give something to the client or do something for the client if they agree to a follow up step.  It should be something very easy to agree to because the client will get a lot of value (information, personalized service, bonuses, etc) for very little action.  Ultimately, people don’t take action without a strong reason, and the offer is the reason that they will answer your phone calls, open your emails, agree to a follow up appointment, or visit your trade show booth.

[Don’t be put off by the idea of making an offer and securing a quick commitment.  We are hosting this event for a purpose, and the call to action is a critical component of the event strategy.  In a later blog post, I’ll explain how this process should happen very quickly and smoothly and take less than a minute or two.]

Fifth, all this should lead to a “next action” after the event.  If you’re starting a new business relationship or opening a new opportunity in an existing relationship, the salesperson should tell the client that he will send something in the mail, email, or make a phone call to follow up after the event.  At a convention, the client should agree to meet with the salesperson at the trade show booth the next day.  

There’s no need for heavy-handed pressure to obtain commitments written in stone - simply ending a conversation by saying “I’ll give you a call on Tuesday at 11am” or “I’ll see you at the booth tomorrow” is enough to commit the client to a plan.  If you want to send a calendar request to confirm the time and date, fine.  Exchanging business cards or contact information helps solidify the agreement.  What’s important is the client can anticipate the phone call or expect to see the salesperson at the show the next day.  

These five components are a series of progressive steps, and the event should take the client through each step in order.  At first we’re just having fun and enjoying the event, then we spend some time having fun and enjoying the event with our sales representative, maybe meet with an executive or product developer, and finally we agree to follow up with these people after the event.  

Ready for more?  We’ll publish a deep dive into the first step - creating a memorable event - next .  See you there!

Just released: Mike Duseberg reveals all the “how to” steps to creating events that create sales referrals, and repeat business in his third booklet The Event ROI Revolution: A Planners Guide to Hospitality Events that Create Connections, Build Rapport, and Schedule Sales Appointments. Download your complimentary copy here.