Executive Insight Tip of the Week - Issue #82 - The Business-to-Business Souq

• Posted on October 21, 2010
• 1 comments

The Business-to-Business Souq

Over the years I've traveled to places where the weekly market is the center of activity. I especially like the Arabic word, souq, as it connotes all of the activity of a market place: not just the buying and selling, but the relationships that emerge.

Recently, I attended a business-to-business trade show at the Javits Center in New York, and as I walked the floor, I realized that it had characteristics of a souk. People mill about in chaotic patterns, and everyone is trying to sell something to anyone walking by.

I walked the show with this in mind, especially interested in how the various vendors captured attention as you walked by.

As you would expect, larger companies had big, glitzy, bold exhibits and captured your attention visually. What followed, however, was curious: I would approach the representatives of these companies, and they did little to engage me or try to interest me in what they were selling.

Some of the smaller exhibitors, on the other hand, used great behavioral selling techniques to express interest in my business, ask questions, and request my card to follow up.

You'd think that the larger, well known companies would be experts at engaging people. They're not. And the main reason is because they believe that their brand does the work. As a result, their salespeople don't put forth much effort because they don't think they need to.

This is a very important point for any business that is trying to gain attention in a crowded market. Bigger and glitzier doesn't equate to effective engagement. When you develop strong sales skills and effective marketing, you'll have the opportunity to compete.

And remember that the selling doesn't stop at the souq. Follow up and build those relationships, and over time they will result in more and better business for you.