How Overtone Acoustics Saved Their Business
Check out the five business moves used by Overtone Acoustics that helped to turn around their struggling business.
It’s a story some of our members may know all too well...a manufacturer of music, sound or event technology products, struggling to get their innovative merchandise into the right hands and in front of the right people.
Such was the case with Overtone Acoustics, a Florida company that manufactures acoustic paneling with customizable artistic treatments to make them more aesthetically pleasing.
The company was doing well enough, until it hit a rough patch in the summer of 2016.
Hoping to save his business, Brad Turpin, the founder of the company, turned to Marcus Lemonis, of the hit reality TV show, The Profit, for help.
Interestingly enough, one of the primary steps in getting the company back on track was getting the team to a tradeshow—and not just any tradeshow—The NAMM Show.
Following are five of the business moves their newest partner immediately suggested—advice that not only saved the business but helped position them to land a nationwide deal with Hard Rock Cafe.
1. Exhibit
Exhibiting is a great way to introduce new products to the market. Not only does it give you exposure to potential customers you might not otherwise encounter, it gives you a first-hand opportunity to see how the market responds to your product.
Do they understand what it is? Do they know what it does? What feelings do they convey about how the product improves their life or business?
These customer responses can later be used to tell your story to future customers on the web, in collateral or on social media, helping you to use the words that resonate.
2. Start Small
If you are an up-and-coming business, funds can be tight. Yet exhibiting is critical to the launch and expansion of your business. If this is the dilemma you face as a business, consider sharing booth space with another company.
As explained in the episode of The Profit, Lemonis is an investor of SJC Drums, a company that had already planned to exhibit at The NAMM Show. Instead of getting a separate exhibit space for Overtone Acoustics, the two brands shared booth space.
This is a great way to ease into the tradeshow scene without making a huge investment, especially if your brand is complementary to the one with which you are sharing.
As Brad explains, “Sharing a booth really allowed us the opportunity to get our feet wet at a tradeshow, while saving us some money. We learned a ton from SJC Drums by working alongside them and hearing about the lessons they’ve learned over the years. It helped us shorten the learning curve and evolve our booth presence for future shows.”
Sharing a booth really allowed us the opportunity to get our feet wet at a tradeshow, while saving us some money. We learned a ton from SJC Drums by working alongside them and hearing about the lessons they’ve learned over the years. It helped us shorten the learning curve and evolve our booth presence for future shows.
3. Come Prepared to Sell
While coming prepared to sell seems like common sense, it is a mistake all too often made by exhibitors at The NAMM Show.
The NAMM Show attracts over 100,000 buyers, influencers, and media from all over the world. These buyers are not only expecting to buy, they are excited to buy. Make it easy for them to sign a contract on the show floor by having all the resources necessary to make a deal.
Additionally, have collateral available that they can take with them for when they are ready to make a purchase one, three, or six months down the road. Discussions you have today are fertile ground for deals made tomorrow.
4. Offer Concise, Focused Messaging
Do you have an elevator pitch? An elevator pitch is your ability to describe your product, as well as the features and benefits, within the time it takes to ride an elevator. It’s the same pitch that should be conveyed clearly on all of your marketing materials and signage.
Don’t assume that you or your team are equipped to sell, without actually taking the time to prepare and practice. Ask someone outside of your business to review your marketing materials for clarity. And take the time to role play with your team, practicing your elevator pitch and how to overcome objections, before exhibiting at The NAMM Show.
As the saying goes, you only get one chance to make a first impression.
5. Engage Prospects
Let’s face it, not all employees, no matter how valuable they are behind the scenes, are comfortable prospecting and selling. Make sure you have the right team (and personality types) manning your booth. You want an engaging disposition that encourages conversation.
Consider engagement opportunities outside of your booth with a sponsorship or additional brand listings within the show map, app and directory. Both are great ways to increase brand visibility and expand prospect engagement beyond the booth.
Since appearing on The Profit, Overtone Acoustics have gone on to obtain their own booth, exhibiting independently at Summer NAMM, with plans to exhibit at The NAMM Show this January.
“Appearing on The Profit at The NAMM Show has been a wild ride,” says Brad. “Summer NAMM taught us a lot and showed us the value of meeting with customers and distributors face-to face. The interactions are invaluable in opening doors to future business. Having our own booth at the 2018 show in Anaheim is going to be the pinnacle of everything we’ve learned regarding trade shows over the last couple of years.”
For more information about Overtone Acoustics, visit overtoneacoustics.com.