In response to a question asked in the Makers’ Co Community group, I talk about diving in and applying for or attending your very first market (or second, or third). I give a couple of tips around what type of market to start with as a beginner, and go into the two basic concerns have: Not being confident in your product, and not being confident you’ll make enough money the market.
Should you take the leap and do a market?
Short answer? YES! Jump in and do it!
It is natural to have concerns in doing a market. Either you lack the confidence that your product will sell or you are not confident that you will make enough money. But with every concern there is a always a solution. So before diving in to your first market, do some research about what type of markets are available in your area. Some markets don’t need you to spend any money in order to participate in one. Look for a market that is free, that does the set-up for you, and all you need to do is show up. This is the perfect way to dip your toes into joining a market and learning what you can out of doing one.
You also need to start thinking of a market as a promotional activity. You get to practice talking to people about your products and learn the reasons why your products are selling or not. Determine what your products need and what it is actually missing by getting to know your customers. All these people who are semi-interested will know when you will have your next market and you can give coupons or discounts drawing them back in with incentives and then eventually they will become a customer. So more of thinking about monetary value in doing a market, you should really think of it as a promotional activity.
You might not make your money back at first but it’s a process. Since you should think about it as a promotional activity, take this as an opportunity to get people’s details to contact them later. You can have a giveaway of a sample of all your products, have people answer a survey with their email addresses on it and add them in a mailing list (make sure they are aware that you will contact them and that they are cool with that). That way, you get to build a relationship with your potential customers.
Basically, joining a market will help you more than it will hurt you if you follow these tips. Because in joining a market, you will you be able to interact with people who know and don’t know that your products exist, you get to learn what your product is lacking, what people like or don’t like about it, and you simply get to the point of really knowing how your products can solve your customers pain points.
So what are you waiting for? Take that leap, do your first market and let me know how it goes!
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