Connecting & Innovating at TechDay 2024

I covered TechDay in New York this past Friday. This year was special because it was the 10th anniversary of TechDay. 

Over the past ten years, TechDay events have connected over 10,000 startups with over 250,000 investors, accelerators, engineers, suppliers, and other members of the tech startup ecosystem. This is according to TechDay. 

Attendees had the opportunity to network with venture capitalists, and accelerators, learn about the latest technology, and attend tech talks. 

These tech talks consisted of thought leaders from the NYC startup ecosystem, including investors with over $5 billion in combined assets under management. Thought leaders spoke on a series of panels focused on the history of the NYC startup ecosystem, its present opportunities, and possible futures

Entrepreneurs had the opportunity to audition to pitch their start-ups on Shark Tank. 

There were many exhibitors at TechDay as well. Companies were from a wide array of industries.

In this video, I walked the event floor to give you a sense of the things happening from networking, connecting, pitching, and learning. 

Additional pictures can be found on Facebook and Instagram.

Thank you to the organizers of TechDay for having me. 

TechDay was a great event. 

TechDay events are held both in person and online. Visit techdayhq.com for a schedule of upcoming events and a recap of the recently completed TechDay Expo.

Did you attend? 

What are your thoughts on TechDay?

Comment and share below.

Free or Low-Cost Trials

When creating a new offering, I would offer a free or low-cost trial of your product to the end-users and industry experts. Consumers look for social proof before they buy a product. Now if the product is new, none exists. To lower buyer resistance, you need to make it low risk and feel safe.

In addition to market research and product testing; the free or low-cost trial is a great way to build trust and get feedback. Surveys can be created to ask potential customers about their experience.

If your product helps to solve a customer’s problem they will be more than happy to share it with others; converting to paying users! The product will earn testimonials and endorsements. Testimonials and endorsements will address product reliability creating: loyalty, brand recognition, and Sales for your product.

Loss Leaders

In place of a free or low-cost trial, a loss leader can be an option. A loss leader is when you offer a product at a loss or break-even point to gain business in the future. Supermarkets do this all of the time when a new product is rolled out.

Another place I saw loss leaders was when I was in Field Sales. I was selling Dental equipment at the time. Certain customers were loyal to certain types of equipment. When I ask why they stated that these were the tools that they had used in school. When I called on Dental schools and Hospitals, I found they were locked up with large contacts. My larger competitors sold the equipment at cost practically giving it away. Why would they do this? My competitors were creating life-long customers who were trained on certain tools and refused to switch.

Connection, trust, and advocacy are essential for customer acquisition. It is your job as a brand to turn your customer base into evangelists.

The decision on developing and implementing offering free, low-cost trials and/or loss leaders will be different for each product.

Free, low-cost trials and loss leaders help to Increase Sales and Customer Loyalty.

How have you used free, low-cost trials and loss leaders to create Sales and Customer Loyalty?

Comment and share.

What You Don’t Think about when you Start in Outside Sales-Sales Logistics

Before you start selling, you need to do sales planning. This includes market research, understanding territory geography, and product knowledge and objection handling through sales training.

Here is what you don’t think of. 

How long will your sales process take? 

How long will each sales call last? 

How long does it take to go from one appointment to another? Mapping can help, but you won’t know until you do it regularly. Knowing how often to call on prospects and customers to be top of mind, without irritating them, because everyone is different. 

How cold calls on prospects will go. 

Cold calls are a great way to hone your objection-handling skills and gain new business.

The emotional roller coaster of the highs of making the sale, mixed with the depths of being rejected. 

The uncertainty of how much you will earn for your efforts. 

If you are truly cut out for a career in Sales. 

That you are not alone, even though you are in the field by yourself. 

Where to find a bathroom you can use in relation to your location. 

Dealing with the weather.

Sales can teach you a lot about business and enable you to earn a great living, but it is not for everyone. Everyone should try sales at least once in their career. 

What surprised you when you started in Outside Sales?

Share your thoughts in the comments.