Article Tags : get your product to retail . launching your product in retail . small business product
One of the biggest challenges for entrepreneurs like you after starting your own business is to get your new product on the retail shelves of mass retail companies. It this is your goal, you should learn the top six ways to get your product to retail.
Step 1. Understand the mass retail channel
Starting with this step is only possible if you already know your product and the end-consumer backwards and forwards. When your goal is to get to retail that means your main customer is the mass retailer, which is who you will be targeting. Will you sell to a generalist or specialist? If you choose a specialist, what are the customer demographics? Do they have an online presence?
Step 2. Understand key performance indicators (KPIs)
KPIs are the way in which retailers decide if a product is hot or not. You must prove to the retailer after starting your own business that it will provide greater profitability than other products in the same category. Consider retailers to be real estate businesses—they only want to sell what will bring them a great profit based on the limited space in the store.
Step 3. Build up some steam before you approach the retailer
This can be done by proving the profitability of your product online, obtaining a listing in a catalog like SkyMall, and gaining reliable and professional customers who are willing to endorse your product. It certainly is extra work after starting your own business, but it will prove your dedication when you approach the mass retailer.
Step 4. The time has come to approach the mass retailer
You really only get one chance, so be sure you are ready. After all, there are thousands of products the buyer could choose. To succeed, be sure you are clear and to the point about questions they ask you (price point, when you can launch, advertising plan, etc.). Avoid story-telling and skip long presentation material. Buyers want brevity.
Step 5. Use proper product packaging
Use attractive visuals that are different from your competition, a clear focal point, and be consistent will all your branding actions. Consider colors that will draw attention to your product and the layout of the label. Think about hiring a graphic designer to help you design the best packaging possible.
Coordinating the launch is the hardest part of the process of starting your own business. Proper attention to details, excellent planning and fool-proof coordination are all essential to avoiding issues of quality, missing products, incorrect labeling, miscommunications, and overall product launch delays. Please visit stepsto.com for more great business advice.