Speed dating applied to sales, what’s it all about?
We all know about romantic speed dating, the brief encounter between two people that gives them an opportunity to get to know each other in the space of a few minutes. Now the principle is being applied to sales. Is this new formula effective? What are its benefits compared to a conventional trade show? To talk to us about it, we interviewed Mélissa Lusignan, vice-president of North American sales for ATTITUDE – the thriving Quebec company that develops and markets products of the same name.
What does commercial speed dating consist of?
This is a new kind of trade show. The exhibitors are no longer in an open area like in a conventional trade show, but in a room or hotel suite in which they exhibit their products as in a showroom. Meetings take place every twenty minutes with the potential buyers. At the end of twenty minutes a bell rings and we move on to the next. So the exhibitor has twenty minutes to make his sales pitch and persuade his counterpart. Sometimes the customer is not interested in buying right away. The meeting also provides the opportunity to take his pulse.
Who organizes this type of trade show?
This type of show is organized by ECRM, an American company that specializes in the field. There is not yet an equivalent in Canada. ECRM invites brands based in the United States, Europe and Asia. It then takes care of all the appointments for each exhibitor. Of course, you have to pay to participate in the event.
The interesting thing is that the business sectors are very specific. For example, there are segmentations such as ECRM Cosmetics, ECRM Shampoo, etc.… As an exhibitor, we receive information about the buyer before the event. We therefore know exactly what he is looking for and what product to show him.
How long does this type of show last?
It lasts two to four days.
What are the benefits of these brief meetings?
In three or four days you can often have a hundred meetings with potential customers from around the world, which saves us from travelling all year round. In addition, as the sellers we have to go to the buyers’ offices. So we are in their environment. With this type of trade show, they are the ones who come into our space. The dynamics are therefore very different. There is more of a sense of being equals. It’s a very interesting formula.
For the buyer, there are also benefits. Like us, they only travel once. But most importantly, they can focus entirely on the show, while when they see us in their office they are often interrupted by the phone, a colleague or between appointments, etc. With this type of show, on both sides all the attention is directed towards the business meetings. There is no time waster.
How do you arrange your product space in a hotel room?
The organizers remove all the furniture: dressers, beds… It takes a bit of creativity, using accessories (lamps, flowers, fabrics…) to dress up the place, light the room and make it friendly.
What are the benefits of commercial speed dating?
The benefits of commercial speed dating are faster than with a conventional trade show, since we know who we are going to meet and can be better prepared. In a standard show, no appointments are made in advance. People change their minds, don’t turn up or don’t go by your booth. A speed dating event lets us prepare ourselves better and have very good quality meetings.