How to Talk “Retail” To Gain Attention From Retailers

Did you ever imagine that the layers and politics of retail would be so complex when you dreamed of selling into retail stores? For that matter – as store owners – did you ever dream that the politics of choosing products for your assortment could be so tough?

So many people dive into retail without even understanding it all. And while everyday is a chance to learn something new, it’s important to dedicate time to truly understanding some key retail lingo before diving too deep into the retail world. By doing this, you can better support your business as well as better communicate with potential accounts, retailers, business partners and more.

See & Hear How Retailers See & Hear

Plain and simple – if you want a retailer’s attention, you need to think like a retailer and then communicate to them with these thoughts in mind. They have to worry about their Open To Buy dollars, their visual displays, their employees or lack of them, their old inventory, their new vendors, their Net 30 payments that are due and much, much more. Consider all these points when speaking with retailers so that you don’t lose sight of what their objectives are. Additionally, consider their product assortment. Is what you are trying to sell to them really a match for their store? A sale isn’t a  worth wild sale if it ends up in the wrong shop.

Timing Is Everything 

Buy seasons exist for a reason, and too often eager vendors and sales reps disregard this. Consider what buy season you are in the midst of, then pitch retailers accordingly. While each individual store may place orders at different times, their general thoughts are in sync with a certain buy season based on what time of year it is. For example, stores begin to think about Christmas purchases in June. By September most of their orders are placed. Last minute buys often take place, but dollars are typically spent or budgeted for 6 months in advance. Additionally, each specific industry varies so always make sure to identify your specific industry’s buying trends prior to reaching out to stores.

Bringing it Together 

Retailers are busy, busy folks. Don’t waste their time. When you get their attention, make sure you keep it. Have what you need to support them in your communication. This includes marketing tools,  a Buyers Packet, samples of your product, order forms ready, delivery details available and anything else to help sell your products. If you have a great display to showcase your products, bring it to your meeting. If you have a lot of press clips to help enhance your products, use them in your pitch. The worst thing you could do is not be fully prepared. And remember, retailers want results. Remind them why you can offer them this through sales of your product to their specific customer.

Have your own tips to share? Let us know! Please comment below.

A Wholesale Checklist to Becoming Retail Ready

Time and time again, people’s dreams of launching a product line come to life – therefore jumpstarting a million steps towards landing on retail shelves. Many wholesalers – whether designers themselves or vendors sourcing their product - miss vital steps along the way that create barriers for their brand to effectively position themselves at retail. Others take each careful step with consideration as to how it will lead them to the next. All steps have one goal in mind, however - gaining customers from retail sales.

To help prepare you for your own steps towards retail, consider the questions below.

1. At what pace (turn around time) can you support orders placed? Do you have shipping plans prepared for bulk deliveries and multiple deliveries, or are you paying traditional mark up for shipping? If you are paying traditional mark up, you are losing money.

2. Speaking of shipping, what are your packaging plans for this? Do you have boxes and all the packaging goods you will need to safely and securely ship your goods? Retailers don’t want broken pieces or loose garments arriving to their stores.

3. Of course, before you ship you need to gain sales. What is your sales strategy for reaching out to retailers? Door to door only goes so far. Trade shows, social media, sales reps… there are so many ways to go about this.

4. Do you have a Buyer’s Packet prepared to support retailers?  This is a must. Pitching to retailers without effective marketing / selling tools make you look unprepared to be retail ready.

5. Are you prepared for the time it takes to create sales? If you aren’t good at sales, what is your back up? Remember – good work costs money. Experienced support cost more.

While there are many more steps involved in reaching the retail market, the above checklist will help get you on track with the right steps you need to take. And if you happen to be in the middle of your path and not sure how to get on the right track, take time to review and analyze. It’s okay to step backwards if you trust it will get you moving in the right direction.

Need more support? Retail Minded is available for one on one phone consultations to help support your unique business. Additionally, we offer Buyers Packet creations at affordable prices to help position you to reach out to retailers. Learn more by emailing Retail Minded’s Nicole Reyhle at nicole@retailminded.com.

B2B Social Deal Sites – You’ll Love This!

Groupon is great. And Living Social is pretty cool, as well. But let’s face it… you won’t always need highlights or a fancy dinner out. Instead, you need deal purchases to help your business thrive. Luckily, the world of deal sites has caught on to this trend.

Smart and savvy in their deals, the sites below all cater to B2B expenses, overhead and more. Check them out for yourself to see what may be great for your business.

Bizy Deals, www.bizydeal.com

From Constant Contact deals to reduced credit card fees, these deals are worth checking out. They even have a 50% savings on leasing a sales rep! Their tag line  is “Money Saved is Money Earned”… enough said.

Market Blitz, www.marketblitzdeals.com

While this tends to lean heavily for Denver area deals, it’s starting to spread itself out around the country. From reduced press release services to office furniture to marketing services, their deals are designed for businesses of all kinds.

Group Price, www.groupprice.com

Their goal is to help your business grow for less… less money spent from you, that is. What they offer are unique and purposeful deals that help get your job done. While not everything they offer will be for you, a lot of it likely is. Worth the online visit to their site!

Office Arrow, www.officearrow.com

These guys not only offer daily deals, they have a lot of valuable business content on their site. Webinars, podcasts, articles and more make up their collection of tools supporting business owners – gotta love that.

Spending money is a necessity in making money sometimes, so why not spend less and still gain exactly what you need? These sites are worth checking out – and checking out often – for that reason alone.

Happy dealing!

Optimize Online Sales – 5 Must Know Tips

Looking to drive traffic to your e-commerce site? Who isn’t?! Now if you want to drive traffic AND get some sales, here are a few ideas to help optimize your e-commerce sell thru.

1. Offer comprehensive product information without a lot of junk in the middle. In other words, be concise but don’t waste your audience’s time with too many fancy words that just take up space. Give a clear understandinng of what the product is, including (if necessary) it’s purpose.

2. Cross sell products whenever possible. Include small photos of complimentary products that your customer may be interested in based on what they are currently viewing or at the very least, what they have already just purchased.

3. Provide multiple e-communication offers. Don’t have a 1-800 number? That’s okay. But give your customers options to get a hold of you in case they have questions about a product or placing an order. Email, phone number, online chat, Q&A list for frequently asked questions – include at least two.

4. Give the sense of touch even when they can’t touch anything. Selling apparel? List the product contents, such as 97% cotton and 3% spandex. Is there texture to a product? Include a snapshot and describe the touch of this. Review your inventory to see what can be described and shown in words and photos that may help your audience in their purchasing decisions.

5. Don’t ignore your SEO options. SEO – Search Engine Optimization – drives consumers to your site that don’t already know about your site. Make this matter for you!

Finally, make sure your check out process is easy for your customers. Include all necessary details of purchasing policies, return policies and payment options. Adding a coupon for a return purchase is a great way to get returning customers, as well!

 

The 4 P’s of Retail Marketing

Marketing never gets old. It constantly surrounds us in new ways. What stays the same, however, are the 4 essential P’s to marketing. Product. Place. Price. Promotion.

Without a product – whether it’s a service offered, person or actual product being sold – there is no reason to put marketing efforts out there. Naturally, this product needs a “place” to be found, so identifying this is critical in your marketing outreach. Customers always want to know how much things will cost, so the price is a key component to this 4 part mix. And finally, the actually promotion of the product / place / price helps to create a call for action from customers. This part can be simple, elaborate or even fairly routine, but it should always provoke your customer’s interest.

When referring to the 4 P’s in retail marketing, it’s important to stay focused on your goals. For most of us, that is selling through your inventory…. and making money! Keeping your budget in check along the way is very important, so make sure your pricing strategy is built to support your marketing plans in addition to your product resources, selling efforts, time it takes to bring this product to life and much more. A few other key components to consider include:

1. The life span of your product. How will this influence the price? How will this influence your promotion strategy?

2. The buying behavior of your target market. Are they impulse buyers? Or do they research things before a purchase?

3. The competition of your product. Who are your comeptitiors? What points make up their marketing mix?

Beyond the 4 P’s of marketing, there are 4 environmental stimuli that greatly influence consumer behavior and buying trends. These are the economy, technology, politics and cultural life stlye. Consider how these will influence your unique 4 P’s, then respond accordingly. If you are aware of all contributors to consumer purchase decisions, you are more likely to win their actual purchase.

 

Pop Up Shops – What Are They? Can You Use One?

Retail vacancy is still at a high, so the idea of a pop up shop may seem confusing to some. But the reality is, a pop up shop is a (nearly) perfect solution for businesses looking to enter the retail market, introduce themselves to a new geographical area or simply want to reach a consumer audience without the hassle (ie: expenses, staffing, inventory, etc.) of a permanent store front. This also offers a great way for landlords to gain some income on empty storefronts, while also giving businesses owners an idea of how realistic a permanent store may be for them.

Pop Up What?

Plain and simple, a pop-up shop is a temporary store. Typically, a pop-up shop is located in vacant, landlord owned storefronts that are rented on a short term basis, though a pop-up shop can open practically anywhere. Many pop-up shops open for long, 3 day weekends while some open as long as six months. But on average, a pop-up shop opens and closes within just a couple weeks. While this may seem like a short amount of time for a lot of effort, the pop-up shop expectations are not equal to a typical store. Merchandising, fixtures and other expected store features are set up on a temporary basis, therefore less is necessary as well as less is expected from customers. Don’t let this fool you, though. Pop-ups can still look great, particularly with good budget planning.

Are They For You?

There are a variety of reasons pop-up shops have been successful. Some top reasons why pop-ups work well are listed below.

1. To gain attention for your business. Between the media interest and the interest of everyday consumers passing by your pop-up, you are almost certain to gain new customers.This combined with proper PR planning and marketing offer a great avenue for new exposure.

2. To get rid of excess inventory. Online companies often want to clean house without dealing with a massive online sale. A pop-up can be a great alternative for them. Likewise, companies looking to simply get rid of inventory – whether new or old – can use pop-ups to effectively reach a consumer audience in an exciting outlet. Some smaller companies have even shared a pop-up shop to offer more to customers while reducing overall overhead for them.

3. To test new markets. Often businesses are successful in one area and naturally, want to expand to another. Pop-ups allow for business owners to determine if an area is right for them before investing deeply in real estate contracts, overhead and much more.

4. To try a new business idea. Some pop-ups are used simply to test the waters. Whether offering a product or a service, a pop-up can allow you to gain customer feedback and really determine if your idea will be successful year round.

5. To make money and to save money. Money is always an issue. While it will cost money to open a pop-up, it could save you money long term. Traditional expenses include insurance, rent, merchandising fixtures, inventory, and staffing.

Retail is an ever evolving, ever changing industry. A pop-up shop is a perfect, modern example of this. Is it right for you? Want to learn more? The links and companies below can help you in identifying if a pop-up shop should be part of your business plan.

Pop Up Insider – www.popupinsider.com – Temporary Real Estate Source

Go Vacant – www.govacant.com – Pop-Up Shop Strategy

Business Insider – http://www.businessinsider.com/17-most-creative-pop-up-stores – Examples of Creative Pop Up Stores

 

 

Calling Editors? Tips for PR Phone Etiquiette.

If you are lucky enough to have PR support, good for you!!! But for many retailers and wholesalers, managing their own publicity is part of their long tasks of to-dos.

To help support you in your PR efforts, consider the following points next time you pick up the phone to call an editor or other media contact.

• Make sure you are respecting the time of day you call an editor. Avoid Mondays and early mornings. Tuesdays through Thursdays in the late mornings or early afternoons tend to be a fair time across the board. By Friday, no one’s mind is on work as much as it is in the other parts of the week, so save your pitch for another day.
• Always introduce yourself to an editor, even if you have spoken with her many times before. They are very busy people who have countless conversations a day. Politely say who you are without expecting them to ever remember your name – although always hoping they do.
• Before going into your monologue about why you are calling, ask your contact if they have a quick minute to talk. This shows you respect their time and also identifies that you don’t want to take up too much of their time. Make sure you quickly point out that you will make the call fast and that you know they are busy.
• If you have to leave a message, speak clearly and quickly. Identify 1) who you are 2) what the name of your store or brand is 3) why you are calling and 4) how you can be reached.
• Hold off until 36 hours before calling your contact again if you still have not heard from them. Chances are they are busy. If they don’t plan to call you either way, your second (or third) call will let them know you are persistent and professional. Remember to be polite and never point blame on them for not getting in touch with you.
• When speaking, give them enough information that they gain interest in your pitch without them having to feel like they need to dig for the story. Be quick, concise and clear in your delivery. Every word counts. And remember – tell them newsworthy information, not just fluff.
• Return phone calls in a timely fashion. Don’t make them hunt you down like you may have had to hunt  them down because they won’t. The competition is tough for press coverage, so get back to them right away or better yet, answer their call right away.
• Before calling your contact, give them time. If you have already sent them a press release via email, don’t slam them with phone calls within the same week. Let some time register before following up. A week is a fair amount of time between your first outreach and initial follow up.

Of course having good phone etiquiette is just one small part to the entire PR mix. You need to also consider how you deliver your content (press releases, via email, via online services, etc.) and your timeline. Depending on who you are pitching, you should refer to their unique PR calendar so that you know 1) what kind of stories they may be looking for and 2) what day / week / month they are working on for future coverage.  For example, a magazine editor in May is likely already thinking about Fall.

Finally, always remember to kill your PR contact with kindness. Let them throw their weight around – not you. Of course, hopefully they won’t play that role but it’s likely they might… and can get away with is. So smile and toughin’ up. PR isn’t always an easy game, but it’s certainly one worth getting in.

Tips On How To Create Effective Line Sheets

There are many roles a store owner has and likewise, there are many roles a designer or wholesaler has. Surprisingly, one of the roles that overlap is their use of line sheets. Though their purposes are different when using them, their desire to have effective line sheets are typically the same.Both retailers and wholesalers benefit when using effective line sheets. Unfortunately, not all line sheets are created equally and as a result, many retailers and wholesalers struggle to review them, often resulting in decreased sales, poor marketing presentation and time wasted.

Based on countless conversations with successful retailers and wholesalers, their top three line sheet must haves are:

1. Line Sheets should be visually appealing, making them easier to read.

2. Line Sheets must offer  detailed information in a concise format.

3. Line Sheets should have great images, preferably floating without lifestyle details getting in the way of product.

Visual Appeal

Line sheets can be a cluttered mess. There is a lot of information to sort through and images to match, so formatting these details can be overwhelming both mentally and visually. But visually, it’s an absolute must to get this format clean and crisp in appearance. Horizontal versus vertical formatting is used less, though both offer the opportunity to be effective. The key is to be consistent in what details you offer per product, how you format these details, and the size / layout of the image included. Make sure to use matching fonts and font sizes, as well. Typically, three items in one row on a horizontal page is good to go. Based on your image size, you can likely get at least nine items on one page. Sometime more, sometimes less. This said, every product has unique circumstances so create a few options to determine what visually looks best for your business. And always remember who your audience is – retail buyers.

Details Matter

Without effective details, the visual layout means nothing. What to incorporate into the visual layout are necessary details that wholesalers and retailers alike need to know. This includes, but it not limited to, your product name, wholesale price, retail price, availability, size options, color options, style options and case pack details. Remember that every product and every business is unique, so your line sheet must represent these unique features for everyone to feel as if they have been communicated with effectively.

Image Impressions

First impressions leave lasting impressions. This isn’t a  surprise to anyone. Yet surprisingly enough, line sheet images aren’t always that great… though they should  be. The images you use in your line sheets are often the first time a buyer has seen the product, so make sure the images look good. No – correction – make sure they look amazing.

Floating images, where the product is the only image and has no background to blend with it, are typically the best received image from a buyer’s perspective. This is because it allows the buyer to really see the image without other things getting in the way. Often a front and back view of your product are necessary in communicating your product details effectively. In addition, make sure they are strong in color. Black font is okay, but your product images should always be in color. If this isn’t your forte, hiring a photographer may be a good idea.

Lifestyle images do wonders in creating an overall image for products and brands. But lifestyle images aren’t best suited for line sheets. Instead, use them on your cover page, throughout other areas of your buyers packet and in various other marketing materials.

An effective line sheet will take time to prepare but if done correctly, will save you time later. Updates and changes from season to season will be easier to insert as you move forward, so really it’s just that first time that can be daunting. The time invested will be rewarded with appreciation from retailers and with the right product, sales as well.

Have other tips on how to create a great line sheet? Let us know! Please leave comments below.

Need help on your line sheet? Retail Minded offers customized creation of line sheets and editing of your own line sheets, as well. Complete Buyer’s Packet creations are available, also. Contact nicole@retailminded.com for more information.

Why To Buy? Standing Out In The Retail Enviornment

Consumers are influenced everyday in multiple ways regarding why they buy and what they buy. Retailers are key players – for obvious reasons – in this impact on consumers. But so are friends, family, neighbors, co-workers, advertisements, media, celeberities and more. The catch is finding a way to survive the constant retail overload consumers experience so that your store can stand out among the rest.

For starters, sometimes less is more. Not everyone wants to wear the same shirt as other moms in the carpool lane. Therefore, not being some big name retailer can be to your benefit. Then again, most everyone these days likes a deal. So recognizing you need to be competitive to what the big stores are offering is key. This may mean offering loyalty programs to your shoppers. It may mean offering coupons and special events with discounts included. Or you could stand tall and be that store that never goes on sale. Your call. But be firm with your actions and voice them so that you are part of the retail marketplace in your community – loudly, not quietly.

Publicity involves more than just some fancy PR firm pitching you to the media. It involves you selling yourself, your business and your product in everything you do. It involves getting involved in the community so that you are seen outside of your business walls. It involves paying a few bucks every now and again to promote your business – hopefully in an effort to gain new clients. It involves you as the key step in standing out in the marketplace, so make sure it’s on your to-do list. Without it, your competition is sure to stand out among you.

Now there are always exceptions. Word of mouth can be a great way to gain and keep clients. Maybe good old fashioned customer service is all you need to keep the cash flow coming in. But remember that customers today are bombarded with information that pushes them in directions to buy lots of things… many of which you may offer but they don’t know about. The catch is capturing their attention so that their choice to buy ends up in your cash register. Not some other stores’.

Benefits of Chamber of Commerce Membership

Do you join or don’t you? Like so many other questions to answer on your never ending list of ”what do I do now that I own my own business”, one question you will likely have to – and want to - answer is whether or not you should join your local Chamber of Commerce.

In a simple response – yes, you should. But it’s important to understand why you should join in an effort to really gain from your Chamber experience.

Chamber of Commerces are designed to support the vitality of all businesses within their community. But beyond collectively working to help everyone thrive, most Chambers look at your unique business in an effort to help you uniquely thrive. Some advantages that are included in most Chambers include:

Promotional Opportunity

Through social media, websites, local news sources and more, the amount of publicity you can gain in direct relationship with your Chamber of Commerce is invaluable. It’s their job to constantly be seeking attention for all businesses, so make sure you don’t miss out on these valuable experiences.

Networking

Chambers are a great way to meet new people, including other local business owners. If you take  the time to use networking opportunities to leverage your business growth and overall success, you are sure to see it help your sales. Meeting one new person could result in ten new referrals to your business, so make networking part of your sales strategy. Here’s the catch – don’t be insincere about only networking for this reason. Make friends, build relationships, brainstorm community ideas, seek advice, give advice…. and in return, sales will come to you.

Customer Growth

Any business owner will tell you that making and increasing sales is one of their top goals. Through Chamber of Commerce memberships, you can do just that. A like minded customer at one store could be your next new customer at your store… yet he or she may never know about you unless the store owner tells them. In addition, customers learn about businesses from literature that Chambers put out througout their communities. Often a walking guide tells them where to shop, where to eat and what to do. This is a great reason alone to be a part of your Chamber!

Business Ideas

Bringing your own dream to life is a wonderful accomplishment. But every now and then, there are deadends in your dream that need a little help from others to open up new roads to travel on. This help can come from friends, other store owners, business expos, consultants, blogs and more. Much of this will be provided to you through your Chamber – even if it’s just a reference from one Chamber member to another.

Support

At the end of the day, owning your business can be exhausting. No matter how much you love what you do, working retail hours can wear anyone out. The Chamber gets that. Let them hear your voice, let them know your thoughts and let them be there for you. Together, you can help make your business and your community thrive.

Just like everything else in the world, there are always exceptions. Some Chambers are not so great…. as much as I wish this wasn’t the case. But for the most part, Chambers are there to help you in your business goals. So let them.  Be a part of what your business is – your community and your success.

Did you know Retail Minded offers presentations and workshops at Chamber of Commerces? Find out more by contacting Retail Minded!

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