5 Trade Marketing Tips


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Finding Retailers in Trade Marketing

There are many different kinds of retailers that can be targeted for your trade marketing purposes. In fact, for many marketers (especially those new to the business), the process of narrowing down a list of relevant and applicable retailers can be somewhat daunting, considering the high volume of businesses in the industry. What follows are some tips to help find the right retailer for your business, regardless of the product you are trying to sell.

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5 Trade Marketing Tips

  1. 1. 5 Trade Marketing TipsFinding Retailers in Trade MarketingThere are many different kinds of retailers thatcan be targeted for your trade marketingpurposes. In fact, for many marketers(especially those new to the business), theprocess of narrowing down a list of relevantand applicable retailers can be somewhatdaunting, considering the high volume ofbusinesses in the industry. What follows aresome tips to help find the right retailer for yourbusiness, regardless of the product you aretrying to sell.1) Conduct Market ScreeningsThe first step to take in order to find the right retailer for your business is toconduct market screenings of various companies. This can be donethrough primary source research methods, such as surveys sent via e-mailor linked to your company website. The aim of these screenings should beto determine which retailers would be a good fit for a particular product, interms of inventory, brand image, average price point, and customer base.This information can also be gleaned from consulting Nielsen and Forresterstudies, as well as from large databases like the National Trade Data Bank,which offers statistics on industry trends.2) Narrow the Playing FieldOnce market research has been conducted to determine which retailoutlets might be a potential fit and which can be eliminated from the list, thenext step is to narrow that list even further. Of the retailers compiled, youshould identify a handful of up-and-coming companies - retailers who aremaking a “splash” in the market, or whose sales have been consistentlyhigh or increasing in recent months. These retailers are most often newcompanies looking for the next best thing and should become primarytargets for your trade marketing. Be sure to select promising companies ina variety of sizes, to be sure they are selling to a diverse field.
  2. 2. 3) Analyze Target Markets and RetailersWith the shortened list in hand, you can now conduct a closer analysis ofwhat kinds of products these retailers might consider selling, what productsthey already sell, and whether they might be willing to add new inventory orreplace older brands with new ones. Determine the regular clientele atthese research establishments: what will they respond to? What kind ofadvertising campaigns do the retailers usually use, and have recent salesfigures proven them to be successful? This step requires a bit of sleuthing,but sites like Dailyfinance.com (which reports sales figures for a variety ofmajor retail outlets) can help in this analysis.4) Plan for CompetitionAnalyzing trade marketing competition can also help find the right retailerfor your business. While it is important to be competitive, it is also importantto be practical; that is, a retailer that has worked with a particularmanufacturer for several years and who has seen a steady increase insales may not be the best target if you happen to be marketing a similarproduct. On the other hand, analyzing the competition can also help youformulate a more convincing and appealing sales strategy for targetretailers.5) Select Distributors or Sales OutletsTo find the right retailer for your business, it is also a good idea to decidewhether a larger distribution dealer or a smaller retailer would be a bettermarket for your product. Distributors act as “middle men” for productdelivery and sales, and are typically good targets for marketers who needto unload a high volume of product to be distributed nationally or to anumber of different vendors. Retailers can also be distributors, but in thetrade marketing industry they are typically viewed as a separate salesoutlet. These sources serve as a more direct link to the consumer, andrequire more consumer-based marketing strategies.Planning ahead is essential if you truly want to find the right retailer for yourbusiness. Some retailers may agree to purchase a product, but that doesnot mean they are automatically the “right” company, as their clientele orimage may not be right for what you are selling. Close analysis of market
  3. 3. trends and specific retail outlets will generate a more successfulpartnership. To see this and other related articles on how to better advertise, monitor, and protect your business visit http://spreadcast.net. We can help you improve your search rankings, increase your website traffic, monitor and manage your reputation, and manage your online leads for you.