Meeting the buyer is an opportunity that could bolster business growth exponentially.
With the opportunity to meet face-to-face with some of the biggest decision makers in your industry, it pays to brush up on your knowledge, numbers, and markets.
Statistics suggest that you’re almost 80% towards that first all-important sale if the buyer invites you to present a follow-up proposal for your goods or services. This is why ‘Meet the Buyer’ events need to be handled strategically. You need to present yourself as a worthwhile investment - both as a person and a business.
Our ‘Meet the Buyer’ events were engineered to enable our members the opportunity to expose their products and services to some of the most lucrative and well-known local and international brands.
Here are 6 ways you can prepare for your next ‘Meet the Buyer’ event.
1. Speak the buyer’s language
When presenting your pitch, it’s important to talk about your service or product as though it is already a part of the ‘buyer’s world’. For example, by using their terminology.
Big brands often have their own terminology for certain services and product categories, depending on their industry. For example, the transport industry might use very different language to say, the entertainment industry. As a loose example, Luton London Airport might refer to their customers as ‘passengers’ while CentreParcs might refer to their customers as ‘visitors’.
By talking in their language, it will help the buyer view your offering as something familiar - something they can visualise as the right market fit. Speak the language of the buyer and demonstrate that you are invested in their industry and brand.
2. Anticipate their preferences
This one sounds tricky, but it can be a game changer. Is this buyer straightforward and down the line or do they appreciate a little creativity? Is it appropriate to show a human side, or would they appreciate you to be specific and professional? This can determine the entire tone and style of your pitch. Some buyers respond well to creative mock-ups of your product or service, while others respond better to numbers and strategic predictions.
Doing your research will help you understand what type of pitch they prefer. Speaking with your peers, a local Chamber, or simply reading around the buyer online will help you determine the style of your pitch.
3. Visualise the end result
To form a sustainable working partnership with this buyer, you’ll need to work alongside other suppliers. Can you visualise how that would work? Which members of your team will be points of contact, and who will be in charge of operations? It’s also worth touching on the market fit, the buyer’s audience and how you plan to overcome competitive challenges. Show that you know how your service or product will be beneficial to them as an investment. Certainty and confidence are important here, and buyers are looking for that. As we’ve said before, speak as though your partnership is already something tangible. If you can’t visualise the end result, it might not be the right move.
4. Anticipate their questions
Having intelligent and well-prepared answers in your back pocket for likely questions will impress the buyer by showing you know your service, market and are prepared for every eventuality. Answers to consider for preparation are:
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Who will be working on the account?
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What are your cultural values?
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Do you have examples of previous success stories?
5. Consider seasonal peaks and troughs
Some services are required more during the Christmas period while others are in higher demands during the summer months. Is your product or service dependent on seasonal or cultural shifts? If so, how do you plan to deal with dips during those quieter months?
Demonstrating that you have considered all possibilities throughout the calendar year, with solutions to overcome any obstacles shows the buyer that you are will to commit to consistent marketing and sales effort, keeping profits high and customers coming through their doors.
6. Understand the buyer’s cultural values
With such a focus on cultural values in today’s working world, it’s no surprise this one made the list. Larger companies are especially invested in showing every decision they make pertains to their core values. A mission statement is also a great indicator of a company’s mission and values. Can you show that your team and services are aligned with the buyer’s cultural values? This can be a make or break for buyers.
Remember, this is not an interrogation - more of a facilitation of a mutually beneficial agreement. The Chamber’s regular ‘Meet the Buyer’ events come with a prior assessment to ensure you are matched to the buyer with suitable procurement requirements. And they are an excellent opportunity to connect with and present one-on-one with key decision makers. Our next Meet the Buyer event will take place on the 27th February. You can book your place here.
