Yesterday, I did a video interview with Tamara Monosoff. Many of you know her as the best-selling author of Mom Inventors Handbook. It was a fun video with great energy and meaty content. As you’ve come to expect from this blog, we don’t skimp on content. We don’t hold back information. We share it all.… Continue reading [VIDEO] From the Target retail buyer: What it really takes to get into big box retailers
This is a common question. Many find that after the initial flurry of conversation with a retail buyer, the buyer suddenly goes radio silent. You send an email; but no response. Frustrating! Do you wonder how often you should follow up before feeling like a pest? Here’s my advice: 1) Build your communication cadence around the… Continue reading From the Buyer’s Perspective: How to continue the momentum AFTER your meeting with a buyer.
By Vanessa Ting Going global is great for younger companies because it helps grow your sales and creates cash flow. But one risk in going global is the inability to control your brand reputation. And brand is what creates value for your line and company financials, your retailers, investors and potential acquirers. Overseas, you may… Continue reading FROM THE BUYER’S PERSPECTIVE: DOES IT PAY TO GO GLOBAL?
By Vanessa Ting Without angering my clients who pay me for this valuable advice, I’ll offer this one valuable tip, plus a few example questions to get your juices flowing. Valuable tip: Make sure the sales rep you are interviewing is grilling YOU. He/she should be asking you the tough questions a retail buyer will… Continue reading FROM THE BUYER’S PERSPECTIVE: Q’S TO ASK WHEN INTERVIEWING A SALES REP
Make sure a retailer “gets it” by… 1) Likely a game-changer product doesn’t have much market research or industry trend data pointing to its upswing because it is too new. However, PR and the media are usually fast to embrace new trends or game-changing products. If your game-changer is featured in a magazine, show that to the buyer as evidence of… Continue reading From the Buyer’s Perspective: My Product is a Game Changer And Unlike Anything Currently on the Market. What Can I Do to Make Sure A Retailer “Gets It”?
By Vanessa Ting Romy provided a thorough list of information you should be collecting from your current retailers. The only tip I will add, is that you also want to collect results (both sales and qualitative feedback) on marketing programs you have previously implemented at a retailer. Showing proof of past successes will make future… Continue reading FROM THE BUYER’S PERSPECTIVE: WHAT TYPE OF INFORMATION SHOULD I BE COLLECTING FROM MY CURRENT RETAILERS?
By Vanessa Ting Once you’ve landed on the shelf of a retailer, you should be actively managing your sales based on either a sell-through goal or sales expectations communicated to you by the buyer. And when things are looking good, you let them know and praise them (and consequently, yourself). When things are looking slow,… Continue reading FROM THE BUYER’S PERSPECTIVE: I’VE LANDED ON A RETAILER’S SHELF, HOW OFTEN SHOULD I CHECK IN WITH THEM?
By Vanessa Ting Don’t wait until your product is finished before telling your buyer you have new products in the pipeline. Take your buyer along as a partner during the development cycle. Get his/her feedback on the product positioning, packaging, pricing and styles before you place the first production order. Show your buyer a prototype… Continue reading From the Buyer’s Perspective: If I have new products coming out, when should I tell my buyer?
By Vanessa Ting Endcaps and sidecaps are largely used to drive a sharp lift in sales in a short period of time. Therefore the expectations for the sales volume they will generate are HIGH – and typically not achievable for most newcomers to achieve. These “programs” are in-and-out programs. Meaning, this space is allocated for… Continue reading From the Buyer’s Perspective: How Do I Get an Endcap or Sidecap In a Store?
By Vanessa Ting Don’t worry, no one is going to rip off your product. Here’s why – and what you can do to protect yourself: Private label, also called store brands or owned brands, are retailers’ way to offer its shoppers a good value. These are often used as “opening price point” brands to lure… Continue reading From the Buyer’s Perspective: Why do Retailers have Private Labels? Will they rip-off my product for a private label?