Getting your product on to the retailer’s shelf is not an easy task. It takes a lot of time, patience and effort. Before anything else, as a pitcher, you must know your product well. Retailers have limited space and, therefore, your first chance is your last chance. Hence it is important to know how to approach a seller which pitching your product.
The first thing retailers look at is whether your product has any substitute and whether there is a definite demand for the same. One mistake and you can be rejected. So how to overcome all such issues and how to get a product into retail stores? Here’s a quick guide for you to understand the way one must pitch a product and get successful in retail business.
How to Approach a Retailer to Sell Your Product?
Here are 10 ways to approach a retailer with your product.
1. Develop a Plan
Have a foolproof plan on how you are going to approach the retailer. What are you going to say? How are you going to say it? Will there be a presentation or a demonstration? Also, make sure that you know everything about the retailer you are going to approach. See whether your product aligns with their current merchandising plan and whether that retailer has a goodwill in the market.
2. Know Their Needs
Research. Research. Research. You will have an advantage if you know what stores carry your competitor’s product. Make a list of the chains that do not sell your kind of product. Regardless of the situation, make sure to understand how your product can be profitable in the market and make the retailer understand the same.
3. Slow and Steady Wins the Race
The most important part is building your brand. Get your product known in the local market and then jump nationally and internationally. Once you feel that you have captured enough in the local market, then think of going national. See whether your company can support that structure, then continue to work your way up the ladder.
4. Get Straight to the Point
Don’t push around the bush. Local retailers may give you enough time to pitch your product but don’t expect the same form national and international players. Therefore, it is imperative to be well-prepared with a small and concise presentation. In the small time, provide crucial data on your product, and make them understand why it stands out from its substitutes.
5. Reach Out to Local Retailers
Take baby steps. Find retailers for your product. Local retailers are the stepping stones to your success. Once you get your product on their shelf, there’s no looking back. But that can be a difficult task due to a lot of local competition. Your main purpose is to create a demand for the product and to make the consumers know about your product. And wider outreach can be gotten through local retailers. Learn from approaching local stores and use the experience to fine-tune your product and your presentation, and deal with any problems that might inhibit sales.
6. Show Positive Product History
It can be riskier to the retailers to add a product to their shelf – because they incur a cost of buying, stocking, and displaying the product. They must have the confidence that the product will be appealing to the customers. And it is your job to build that confidence. Demonstrate the product to the retailers by providing them with a positive product history.
7. Don’t Be Afraid to Reach Out and Sell Yourself
Reach out to the appropriate point of contact for product retail establishment or selling to retailers, and pursue them to buy your product. Call their office, email them, get an appointment, find out when they are reviewing new members, and see what they are looking for in a product. A small effort can bring you something big.
8. Attend Trade Shows
Trade shows are a kind of investment and they can be a ticket to lots of stores and major retailers. You can get a chance of demonstrating your product to both retailers and consumers at the same time. Here, you also have a chance of selling wholesale to the retailers.
9. Reach Out to the Gatekeepers
Networking is the fastest path into tight-knit, highly competitive markets. And personal introduction is the faster way to get the attention. Sometimes, decision makers are easier to reach than you might expect and may only be one or two levels removed from you. Use LinkedIn and other platforms to discover how your contacts can help you into the gatekeeper’s center of attention.
10. Big Margins, Quick Turnover, Small Footprint
Successful products are those which have the highest retail margins, fastest turnover, and smaller footprint, for the retailer. If you don’t have a product which falls into this category, then you don’t have a product for retail.
Don’t be afraid to reach out of your comfort zone for a retail establishment. Once you have secured stores, help them sell your product. The more they sell, the more they will buy from you. If you need any help, we at Commitbiz have our team of experts to assist you in all the facets of product marketing, like product registering, product listing and product launch. To reach the most number of potential customers, you’d need to have strong and bigger network in the market. For a comprehensive product marketing solution, Commitbiz has got you covered. Contact us today – we’d be glad to help!