How to Sell Your Product to Big Retailers
Landing your product on the shelves of a big retailer can boost sales exponentially. But with limited shelf space, getting picked up by a big box store is extremely competitive.
Ultimately, you need the right people to believe in your product like you do. Here are some effective tips for getting your product sold at big retailers.
Understand Your Sales
Before approaching a big box store, it's imperative to understand the best qualities of your product so you can highlight them in a pitch meeting. Depending on the size of your team, you can take on this responsibility or hire a sales expert to impress prospective clients.
It’s vital to have someone on your team who can speak concisely and convincingly about your brand. Expect your sales expert to be over-prepared with hard data, sales history, and comprehensive knowledge of the businesses they are pitching to.
Important topics for a sales professional to understand include prospecting, building connections, analyzing customer needs, negotiation, closing, and focusing on value over price. Suppliers at big box stores like Target and Costco hear several pitches every day and will throw curve balls to keep you on your toes.
If your sales staff impresses suppliers with strong statistics and a knowledge of the industry, you’ll be much more likely to land the sale. Remember that sample packaging is a great (sometimes required) asset during a pitch because suppliers can see your products in their full professional rendering.
Conduct Market Research
Don’t just rely on a slick pitch to sell your product. Arm yourself with knowledge and research your industry, competitors, and key metrics. Determine how your product fits into current market conditions so you can help suppliers understand the value of your brand.
Remember that suppliers are ultimately looking out for their own bottom line. Organize clear data on how big box stores would benefit from selling your product. Provide hard data on their potential return on investment if they carry your product.
Focus on your target markets. If your key demographics frequent a particular big box store, share this information in the pitch meeting. Send surveys to previous buyers to get essential information directly from the source. This data will complement macro market insights so you can contextualize your product for suppliers.
Consider a metric like lifetime customer value (LCV). If you retain loyal customers over long periods of time, big box stores will be more likely to pick up your product. Make sure this information is neatly organized during your pitch. Consider a point of purchase (POP) display to highlight your products and craft a cohesive brand image.
Related Content: 3 Examples of Amazing Point of Purchase Displays
Pitch in Person
Unsurprisingly, big box stores like Sam’s Club and Walmart receive hundreds of pitch emails every week. From this list, they will only contact a handful of businesses for an in-person pitch. It’s easy to get lost in the inbox, so be persistent and help them understand the value of your product.
When you finally make contact, insist on an in-person pitch meeting so they can see your product in action. Create a demo that highlights your product. For example, if you sell food, set up a cooking demo. If you sell a toy, assemble it and let suppliers see its full potential.
In addition to a fully rendered product, it's important to provide professional packaging that highlights your overall brand image. If you need packaging on short notice, reach out to a packaging provider and order sample packaging. Depending on what kind of packaging you need, a qualified provider can ship your packaging in a matter of days.
Mock up a one-sheet that includes information like contact information, testimonials from customers and partners, pricing info, product images and overviews, and ordering info.
Focus on the ways your company stands out from the pack. Impress them with your knowledge of the industry and point out specific ways your product can make their company money. Put your hard work and research to use with impressive stats and market trends.
Investing time and effort in a convincing pitch to a big retailer is well worth it. Include research, market insights, real customer responses, and compelling sample packaging that prove you are serious and should be taken seriously.
A successful pitch to a big retailer can propel your business into new and exciting territory. Get in touch with a professional packaging design company to discuss how to make your products stand out amongst the crowd.