As a business owner or a product owner, we always think that our product if not the best is competitive to the best in the market. Many a times we ask ourselves why the retail buyer would reject our product since its a bargain from the get-go. The reality is harsh and often retail buyers may not tell you the real truth. Many times, buyers expect a little more than what your product can do and how its needed in the market. What they need is similar to what you should be doing to entice someone to invest in your product. The case is pretty similar since they are investing in their space and time and resources to putting your product on their shelf. So a little more on the marketing plan goes a long way. So what are the things that you should be including into your marketing for buyers?
Creating a selling story that is interesting and yet realistic should be the way forward. Here’s a little of what you should be including in the selling story and what they don’t care
Share with them your short term and long term plan
Short term should be a one year plan and long term being 2 years and above. Usually a 2-3 year plan should be good enough with the short term plan being detailed. The retail buyer wants to know how you market your product to the consumers. After all the job of the product offtake on shelf is your responsibility
Details, details, details
There should be good details of your marketing plan with specific action plans. To what extend should you be sharing? Well, if you plan to do viral social media you can share what you are doing but there is no need to share how you are doing it
How much you are investing
Retail buyers don’t bother how much you are investing except if its for them. You can share a ballpark figure of your investment but some would feel if you are investing so much with others, why not with them!
Your selling story
Understand their customer base then convince them that your target consumers are their customers.
Helping them profit
Apart from serving the needs of consumers, they are your customers so how does selling your product benefit them?
