How many times have we mentioned on this blog the importance of the meeting with a retail buyer. Following this statement, we normally also mention the preparation required for success in this meeting, but we haven’t yet discussed exactly how to prepare for this ominous meeting. Today, we are going to address various aspects which should go into your preparation for a meeting with a retail buyer as to avoid wasting both theirs and your time.
First things first: Know your product inside and out.
Some questions you may be asked are related to:
- Target market
- Product testing
Once you feel comfortable and prepared to answer the array of potential questions you may be asked, the next thing you must configure is the presentation you plan on presenting to the retail buyer. This often times involves a presentation accompanied by a buyer’s packet which should address the specifications of your product alongside answers to some of the questions the retail buyer may have.
Moving onwards, what exactly should be included in your presentation? We are going to discuss some of the most vital elements of your presentation.
1. Your Introduction
This is going to be the first impression that a retail buyer has of you, so best to make it a good one. This is not the place for small talk. You are meeting with busy business professionals. Your introduction should address who you and your company are, what product you are selling, and the people you wish to sell it to. You should also make sure to be convincing in your introduction, hopefully resulting in a piqued interested from the retail buyers.
2. A History
Make sure to give a brief overview of your story. How did you company come to be? What inspired you to manufacture your product? This is a great opportunity to showcase your dedication to your product no matter what obstacles you have encountered.
3. Product Overview
This is where you can go into a little more detail about your product, elaborating on what you mentioned in your introduction. These specs will generally be more technical, such as what the function of the product is, what the demand for it is, and why you are selling it. This is your opportunity to demonstrate your knowledge of your product and that you have done thorough research on its market and demand. Don’t forget to continue convincing them on why they should stock your product.
4. Line Sheet
This is a very technical aspects of your presentation. Your line sheet is where you, in an organized and easy to comprehend manner, have listed photographs and descriptions of your products. All other costs which factor into your product such as devilry rates and order numbers should also be included in this line sheet.
5. Order Form
Once again, this should be organized and comprehensible. Ultimately, it should be an actual order form to be used by the retail buyer. If you present the actual line sheet and order form, it demonstrates to the retail buyers that you are 100% prepared to sell to retail. They are witness to your organizational skills. Make sure that in your order form you include spaces for quantity, options, styles, and payment.
How are the retail buyers going to assess your product without a tangible sample? Hopefully, you have talked up your product enough to interest the retail buyer, but before they can make any decisions, they will want to see the product in action. This is your opportunity to showc the quality and functionality of your product. It should be the completed and finalized product.
Retailbound is here to help with any challenge you may encounter in preparing for a meeting with a retail buyer!
Hopefully you found this blog informative!
Watch out for our blog post next Tuesday, where we will be publishing an interview with manufacturer representative Doug Marrison of DirectSourceOne!
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