Building a new business from the ground up can be challenging. You may have the best product in the world. However, it won’t mean much if you aren’t able to sell it anywhere. That’s why many business owners start focusing on putting their products on shelves early in the ideation process. There are several different types of stores where you can sell your products. Independent retailers are one of the best options you have. When done correctly, selling your product through an independent retailer can significantly broaden your customer base. Keep reading to learn how.
How Selling to Independent Retailers Broadens Your Customer Base
Getting your products on the shelves of independent retailers is important for a few reasons. First, it gives you another stream of revenue. Maximizing the number of streams can be critically important to many new businesses. It will increase your profits, allow you to reinvest in the business, and help turn your dream into a reality.
However, perhaps even more important than this is the marketing effect of selling your product through an independent retailer. Independent retailers are popular because customers trust them to provide them with high-quality products. As more and more people purchase your product through an independent retailer, you’ll gain an increasing amount of traction with customers in the area.
Essentially, working with an independent retailer is an excellent way to get word-of-mouth advertising for your products. If someone tries it and enjoys it, they’re likely to recommend it to a friend. And so on, and so on. This kind of marketing can significantly increase both your brand’s awareness and product demand.
Even better, you benefit from this type of brand-building without having to pay a dime in marketing fees. In short, getting your products on independent retailers’ shelves will increase your brand’s awareness, which will, in turn, help broaden your customer base.
How to Sell to Independent Retailers
Now that the question of why you should sell to independent retailers has been answered, you may be asking yourself how to actually do it. The process isn’t so difficult as long as you know what you’re doing. Here’s an overview of the steps you need to take to get your products on the shelves of independent retailers.
Understand the Customer
First, you need to understand your target audience on a deep level. You should understand what they look for in products like yours and where they purchase them from. You should also understand how much they’re willing to pay and whether that will allow you to make the profits you need to make your venture profitable. Having all of this information will help you make a smarter decision about the exact independent retailers you ultimately decide to target.
Pick the Right Pitch Person
The most important step in the process of selling to independent retailers is to nail the pitch. You should try to speak directly with the store owner, which will take some effort such as researching contacts and sharing your RangeMe profile with contacts via email. To make this pitch successful, you will need someone who is capable of hitting all of the right notes during the meeting.
Bring the Right Documents
Once you’ve picked who will deliver the pitch, you need to ensure you’re prepared for it. This means gathering all of the documents you need to show the business owner how your product will benefit them.
First, have your pricing methods that reflect the store’s profit margins with you. You should also have some packaging ready for them to view so they can get a sense of what your product will be like in their store. Most pitchers also recommend leaving a sell sheet with the independent retailer to ensure they can easily access important information about the advantage of your product, your pricing strategies, and other details.
Sell to Independent Retailers, Expand Your Customer Base
If you’re ready to take your base of customers to the next level, selling to independent retailers is a must. Doing so is an easy way to generate powerful word-of-mouth marketing that will increase your reach in a specific local area at virtually no cost to your company.
However, make sure that you have everything ready to nail your pitch to independent retailers before you contact them. Doing so will significantly increase your chances of successfully getting your product into one.