Direct Marketing - How Should I Pitch My Product to a Retailer?
Saturday, November 23, 2013
After product development and manufacturing is complete, pitching your product to retailers becomes the pressing issue. It is usually best to start pitching as early as the development phase because it can take months or even years to get the attention of a retailer. When the time comes to pitch your product, be prepared with a presentation that the contact will find professional and an offer that he'll find hard to resist.
1
Gather sales materials that describe and depict each product that you plan to pitch for presentation to the retail representative.
2
Call retailers to arrange face-to-face meetings. With a face-to-face meeting you have an opportunity to present product samples for the retailer to test and also give demonstrations, if necessary. Also, face-to-face meetings provide optimal results in sales compared to meeting over the phone or the Internet according, to a 2010 study by Forbes Insights.
3
Bring past sales records to your sales meeting to prove the viability of your product if it has already been selling well. If new, bring records of similar products released by your company that have found success.
4
Show the retailer current reviews of the product, if available. If you have an association that assigns a rating or seal of approval to the product, get this approval before presenting to retailer representatives so they'll feel more comfortable putting the product on their shelves.
5
Present details about your marketing plan and target market to the retail representative. The retailer needs assurance that you will actively pursue customers with advertisements and promotions to move the product off the shelves. Bring the marketing plan with you to the meeting for the potential retailer to review.
6
Offer a pricing discount schedule, payment terms (such as net 60 days) consistent with other products that the retailer sells. Negotiate with the retailer at the meeting on the matter of payment terms that works for both parties. In most cases you must also agree to permit returns from the retailer for a period of time.
Tags:
Direct Marketing, Marketing
1
Gather sales materials that describe and depict each product that you plan to pitch for presentation to the retail representative.
2
Call retailers to arrange face-to-face meetings. With a face-to-face meeting you have an opportunity to present product samples for the retailer to test and also give demonstrations, if necessary. Also, face-to-face meetings provide optimal results in sales compared to meeting over the phone or the Internet according, to a 2010 study by Forbes Insights.
3
Bring past sales records to your sales meeting to prove the viability of your product if it has already been selling well. If new, bring records of similar products released by your company that have found success.
4
Show the retailer current reviews of the product, if available. If you have an association that assigns a rating or seal of approval to the product, get this approval before presenting to retailer representatives so they'll feel more comfortable putting the product on their shelves.
5
Present details about your marketing plan and target market to the retail representative. The retailer needs assurance that you will actively pursue customers with advertisements and promotions to move the product off the shelves. Bring the marketing plan with you to the meeting for the potential retailer to review.
6
Offer a pricing discount schedule, payment terms (such as net 60 days) consistent with other products that the retailer sells. Negotiate with the retailer at the meeting on the matter of payment terms that works for both parties. In most cases you must also agree to permit returns from the retailer for a period of time.
