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Optimizing Your Product Pitch to Retailers

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Get your product retail ready with this PPT from Session 1 of Optimizing Your Retail Pitch. Learn what it takes to attract retail buyers and get your products on retail shelves.

Get your product retail ready with this PPT from Session 1 of Optimizing Your Retail Pitch. Learn what it takes to attract retail buyers and get your products on retail shelves.

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  • 1. www.retail-path.com | www.buyerly.com
  • 2. Session 1: Class Overview Getting to Yes: Optimizing the Retail Pitch SESSION 3 Building the Pitch SESSION 1 Getting the House in Order SESSION 4 Putting it All Together SESSION 5 After the Pitch READY FOR RETAIL! Retailer Types, Strategies for scaling up, selecting retailers to go after, when to hire a sales rep & what to look for/ask, Know Your Numbers exercise. Overview of buyers and retailer expectations on pricing, product positioning, marketing, packaging How to research a retailer, how to analyze an assortment & draw implications for your business, how to add value, instilling urgency to buy your product. Walk through Pitch Deck Template, Pitch Cover Letter, How to get an appointment & what to expect when you do, How to use the Pitch Deck Pitch to a real life retailer! Debrief and lessons learned. How to follow-up and nurture the buyer relationship, What to expect when you win business. Speak to buyers with confidence! Open new retail doors! SESSION 2 Building a Strategic Roadmap www.retail-path.com | www.buyerly.com
  • 3. Session 1: Today’s Agenda Getting to Yes: Optimizing the Retail Pitch Getting the House in Order 1. Class overview 2. The role of a buyer 3. Retailer Expectations A. Pricing B. Product positioning/Branding C. Packaging D. Marketing This week’s goal: Making sure your products meet minimum thresholds for retailers www.retail-path.com | www.buyerly.com
  • 4. Session 1: The Role of a Buyer Getting to Yes: Optimizing the Retail Pitch Retail Buyers…a day in the life 1. What does a Buyer do? 2. Responsibilities? 3. Background? 4. Motivations? 5. What do they look for in a good vendor? 6. How do I use this knowledge to my advantage? (1:48) http://youtu.be/pZ5RxwF4UKs www.retail-path.com | www.buyerly.com
  • 5. Session 1: Retailer Expectations - Pricing Getting to Yes: Optimizing the Retail Pitch Bad Pricing = #1 Reason Buyer’s Say No… 1. Retailer mark-up (margin) 2. Wholesale cost, therefore SRP, is not aligned with product value 3. Bottoms-Up Retail Pricing 4. Tops-down Retail Pricing 5. Good-Better-Best Pricing 6. Pricing by channel Tip: Consider price per oz or piece count in benchmarking SRPs www.retail-path.com | www.buyerly.com
  • 6. Strong branding creates value, differentiation, speaks to your consumer target and makes it hard to knock-off Session 1: Retailer Expectations – Product Positioning Getting to Yes: Optimizing the Retail Pitch A “good product” is additive to the buyer’s assortment… 1. Differentiated benefits 2. Un-imitable (patents, proprietary) 3. Branding (distinct, memorable) 4. Specific consumer target A. Not just demographics, psychographics too 5. Competitive claims (Reason to Believe) 6. Value proposition fits the SRP www.retail-path.com | www.buyerly.com
  • 7. Session 1: Retailer Expectations - Packaging Getting to Yes: Optimizing the Retail Pitch Pretty packaging is great. Smart packaging is better… 1. Pass the 5-second test 2. Differentiated & disruptive 3. Consistent with and conveys your branding 4. Easy to read/understand 1. Fits on shelf 2. Long re-stocking cycles 3. Easy to stock 4. Considers logistics Tip: Test your prototype packaging with consumers & retailers. Get their feedback. www.retail-path.com | www.buyerly.com
  • 8. Session 1: Retailer Expectations – Marketing Programs Getting to Yes: Optimizing the Retail Pitch Retailers want assurances your product will sell… • Provide a marketing calendar with your upcoming marketing and PR activity • Offer marketing programs that build brand awareness • And those that direct consumers to buy your product in their stores • Programs range from advertising and PR to more retailer- specific programs: • Coupons redeemable at those stores • Online marketing (your website, Facebook) • Marketing lists, social media lists • Point of purchase displays and materials www.retail-path.com | www.buyerly.com
  • 9. Next Class: Session 2 Getting to Yes: Optimizing the Retail Pitch SESSION 3 Building the Pitch SESSION 1 Getting the House in Order SESSION 4 Putting it All Together SESSION 5 After the Pitch READY FOR RETAIL! Retailer Types, Strategies for scaling up, selecting retailers to go after, when to hire a sales rep & what to look for/ask, Know Your Numbers exercise. Overview of buyers and retailer expectations on pricing, product positioning, marketing, packaging How to research a retailer, how to analyze an assortment & draw implications for your business, how to add value, instilling urgency to buy your product. Walk through Pitch Deck Template, Pitch Cover Letter, How to get an appointment & what to expect when you do, How to use the Pitch Deck Pitch to a real life retailer! Debrief and lessons learned. How to follow-up and nurture the buyer relationship, What to expect when you win business. Speak to buyers with confidence! Open new retail doors! SESSION 2 Building a Strategic Roadmap www.retail-path.com | www.buyerly.com
  • 10. Session 2 Homework: Assignments Getting to Yes: Optimizing the Retail Pitch 1. Week 2 reading 2. Identify Retailers a) List the primary and secondary uses of your product. b) Beside each use, list ALL the types of stores that sell products for that particular use c) Make a list of geographical cities that over-index in your consumer and product usage. 3. Goal setting www.retail-path.com | www.buyerly.com
  • 11. Session 2 Homework: Identifying retailers Getting to Yes: Optimizing the Retail Pitch Homework #2 Example: Product: All Natural Gummy vitamins Primary uses: To eat for nutritional value Secondary uses: To eat as a sweet snack To give a child as a reward Denver Los Angeles New York City Etc. Vitamin store, health foods store, pharmacy/drug store, grocery store, mass merchandiser Candy store, Convenience store, Kids Boutiques, Toy stores Geographical regions (Cities with parents that are concerned with all natural ingredients and health): Kids Educational stores Store Types: 1. List the primary and secondary uses of your product. 2. Beside each use, list ALL the types of stores that sell products for that particular use 3. Make a list of geographical cities that over-index in your consumer and product usage. www.retail-path.com | www.buyerly.com
  • 12. Session 2 Homework: Goal Setting Getting to Yes: Optimizing the Retail Pitch Uses your sales history to forecast your goals 2012 History 2013 Goal Setting 2012 YTD Sales Units 1000 Goal: UPSPW Sales 2 # of retail outlets 15 Goal: # retail outlets 30 2012 YTD - Weeks of selling 38 Goal: Weeks of selling 52 Average Unit Sales Per Store Per Week 1.754386 Goal 2013 Sales Units 3120 (=sales/stores/weeks) (=UPSPW * stores * weeks) Projected 2012 Sales Units (52 weeks) 1368 (=UPSPW*52*15) Step 1 Step 2 TIP: Use goals to measure your success from this program www.retail-path.com | www.buyerly.com
  • 13. any questions?

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