Introduction
Roadshows are seen as valuable all over the world. Many businesses in the fashion industry are able to benefit from them. A roadshow is a series of presentations made to potential investors across different geographic regions. They are typically one-day or half-day events.
Roadshows are a key part of the initial public offering (IPO) process. Before going public, it will be advantageous to create enthusiasm about your fashion brand and your IPO. Roadshows are an excellent way to generate excitement and connect with prospective buyers. You can use these events to update current and potential investors about your retail company’s performance and share your plans for the future.
Roadshows also can increase demand for your products. In addition, they allow you to interact with customers on a personal level and introduce your fashion brand to new markets. Now you’re probably wondering how you can plan a successful roadshow.
In this post, we are going to dive into the top 7 tips for an effective roadshow in the fashion industry.
Here’s a breakdown of our content to help you navigate this article:
- Set Overarching Goals
- Select Strategic Locations
- Choose Your Timing Carefully
- Develop Your Roadshow Content
- Promote
- Be Flexible
- Measure Your Success and Follow Up
- Conclusions
1. Set Overarching Goals
The first tip for roadshow success is to set overarching goals. Avoid making the mistake of going on a roadshow without knowing exactly what you want to accomplish from each part of it. You do not want to waste any money, so it is crucial to think about what your retail business can gain from a roadshow that you cannot achieve at other types of events.
Not every fashion company will go on a roadshow for the same reasons. Some brands will hope to generate interest in their initial public offering. Meanwhile, there are non-deal roadshows (NDRs) for businesses that are not going public. At these events, a company will meet investors in order to provide relevant information and updates.
Other roadshow objectives include forming strong relationships with current and new customers as well as getting publicity for your retail brand and products. You need to determine your overall goals for your roadshow, so that you are taking full advantage of this opportunity to reach a wider audience. I recommend writing down your main objectives so you have an easier time staying committed to them and not getting distracted.
When planning a roadshow, you should conduct research to help you clearly define your goals. Look at data from your fashion company’s previous events. Based on this information, aim for a specific number of attendees at each of your events. You might want to create an objective for the number of contact information you collect from buyers too. Investigate the fashion industry, then figure out who your target audience is for your roadshow. Sending out surveys to those you are hoping to attract can help you determine if they would be interested in attending your roadshow events.
Keep in mind that your overarching objectives should not be vague and confusing. When you share them with your team, you will want everyone to understand and be ready to accomplish them. Your goals must also be measurable, so that you can keep track of your progress and make any adjustments to your strategies throughout the course of your roadshow.
2. Select Strategic Locations
The locations you select are essential for an effective roadshow. Your retail brand can plan a local, national, or international roadshow. You must strategically choose the towns and cities you want to hold events in. Look into geographic areas that are known for fashion. These places may have a lot of possible investors that would be excited about your roadshow in particular. Consider going to regions where you already have a bunch of loyal customers. If you are trying to expand to new markets, pick a town or city you have been hoping to reach and that you know has a significant amount of potential buyers.
In addition, the venue you choose for your event is very important. It should be easy for attendees to travel to and find. Make sure you have a large enough space, so that everyone you invited can fit comfortably and there is room for any individuals who decide to come at the last minute. Furthermore, partnering with local businesses for your roadshow can be a way to show customers that your brand cares about their specific geographic region and what they enjoy.
If you have the time and the funds to do a tour of the locations you are looking at for your roadshow, it will be beneficial. Then you will have a better idea of the area and can determine if it is high-traffic or not before confirming the venue.
3. Choose Your Timing Carefully
If you would like your roadshow in the fashion industry to be successful, choose your timing carefully. Don’t just pick random dates. You will want to research when big conferences and events occur in the towns and cities you selected. If you are planning your roadshow during a busy time of the year, you will be competing for attention. Plus venues and services can become unavailable fast. Therefore, you must schedule your roadshow far in advance and select the right time for each event.
Avoid holding your events either on holidays or close to the time of them as well. It will be unlikely for investors to show up because they would rather be celebrating a holiday with their family and friends, instead of listening to a presentation about your fashion brand.
If you want to have an outdoor event, remember to check the weather since conditions will be different depending on the region and the season. For example, if one of the locations you are traveling to is New York City, it will be difficult to have your roadshow in the winter because of the cold and the possibility of snow.
Consider the time of day for your events too. Are they going to take up half a day or last the whole day? Choose wisely because the time of day has the power to affect attendance.
4. Develop Your Roadshow Content
The next tip is to develop your roadshow content. Your fashion company’s presentations should be entertaining and educational. At roadshow events, usually there are speakers, question and answer sessions, networking opportunities, and interactive experiences.
Your events will not be the same for every location. Some speakers will not be able to travel with you to each of your locations. Therefore, you must find relevant presenters ahead of time, so that in every city all the topics you want to share with your buyers are covered. Although the experiences during your roadshow will differ, you need to ensure your brand message is consistent. Your vision should be clear and valuable or else investors will not see the point of visiting your roadshow.
You will want to communicate your fashion brand story to investors. You should have a presentation where you discuss the history of your company and introduce potential buyers to your executive team. Investors will like to hear about your financial performance and growth potential before you go public as well. You may want to talk about the market for your products and trends in the retail industry. During your events, it is necessary to provide information regarding the value of your retail business and your upcoming IPO.
Developing unique experiences for your roadshow will be effective. For example, coordinating a fashion show is an excellent idea. It will be a fun way to get your audience excited about your products. You can also engage your attendees by having musicians perform at your event. These forms of entertainment will give investors something to look forward to and make your roadshow more memorable.
5. Promote
Promoting your roadshow is another tip to keep in mind. You want to raise as much awareness about your roadshow as possible. Social media is a great way to draw more attention to your business and stay relevant in the fast-paced fashion industry. You should share the information about your events on all of your social media accounts. Sending out personalized emails and invitations to potential investors will be beneficial too.
Furthermore, blogging about the process of preparing your roadshow can generate enthusiasm. Your target audience will be interested in learning about your journey to a successful roadshow. If you are traveling to a different country, you will want to make sure your promotional content is translated into the local language. In addition, if you decide to partner with local companies, reach out to them about promoting your events to their customers.
6. Be Flexible
If you want to have an effective roadshow in the fashion industry, you will need to be flexible. Speakers or performers may cancel at the last minute. You should create a backup strategy in case you have to fill any time gaps during your events. Moreover, a possible investor might have to alter the time they can meet with your brand. It is important to have some free time in your schedule in order to accommodate any modifications.
Your retail company cannot predict every issue that will occur throughout the course of your roadshow. If there is an unexpected problem, stay calm. Embrace the challenge and encourage your team to think creatively about how to solve it. Your attendees will not know that your original plans have changed, so try not to dwell on the problem.
7. Measure Your Success and Follow Up
After you complete each roadshow event, measure your success and follow up with potential buyers. Depending on your goals, you will have different measures of success. For instance, if your objective is to raise awareness for your fashion brand, track how many social media posts are created or shared before, during, and after one of your events. You can also check local media outlets such as newspapers, radio stations, television stations, and websites. Meanwhile, if your goal is to increase revenue, you should use ticket sales as a metric. By looking at the progress of your objectives, you will be able to see if your events were worth it and modify your strategies as needed.
Always ensure that you follow up promptly. You should call or send a thank you email or note to attendees and even those who did not come to your roadshow. Following up is a perfect way to remind investors about your event. Plus it may give you the opportunity to gather post-event feedback.
8. Conclusions
Roadshows are valuable to retail companies, especially those who have undertaken an initial public offering. In this article, we looked at the top 7 tips for an effective roadshow in the fashion industry. First, set overarching goals. Determine your main objectives, do your research to clearly define them, and make sure they are measurable. The second tip is to select strategic locations. You should pick the towns and cities that align with your fashion brand’s goals and think about partnering with local businesses. Third, choose your timing carefully. Schedule the dates of your roadshow far in advance and consider how the weather conditions and the time of day can affect your events.
The fourth tip is to develop your roadshow content. Find relevant presenters, keep your message consistent, and communicate key information about your IPO to investors. Creating interactive experiences for your attendees will also be beneficial. The fifth tip is to promote your roadshow. Leverage social media platforms, personalized emails and invitations, and blogging to promote your roadshow events. Contact the local companies you are partnering with for help with advertising as well. Sixth, be flexible. Establish backup strategies, incorporate free time into your schedule, and stay calm when unexpected problems arise. And, the seventh tip is to measure your success and follow up. Track the progress of your goals and follow up soon after your roadshow to strengthen your connections with potential investors.
