optimizing your product pitch to retailers
DESCRIPTION
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.TRANSCRIPT
SESSION
5-Week ProgramOptimizing the Retail Pitch
This session: Getting the House in Order
www.retail-path.com | www.buyerly.com
Session 1: Class Overview
Getting to Yes: Optimizing the Retail Pitch
SESSION 3Building the Pitch
SESSION 1Getting the House
in Order
SESSION 4 Putting it All
Together
SESSION 5After 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 2Building a Strategic Roadmap
www.retail-path.com | www.buyerly.com
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 buyer3. Retailer Expectations
A. PricingB. Product positioning/BrandingC. PackagingD. Marketing
This week’s goal: Making sure
your products meet minimum thresholds for
retailers
www.retail-path.com | www.buyerly.com
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
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 value3. Bottoms-Up Retail Pricing4. Tops-down Retail Pricing5. Good-Better-Best Pricing6. Pricing by channel
Tip: Consider price per oz or piece count in benchmarking SRPs
www.retail-path.com | www.buyerly.com
Tip: 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 benefits2. 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 SRPwww.retail-path.com | www.buyerly.com
Session 1: Retailer Expectations - Packaging
Getting to Yes: Optimizing the Retail Pitch
Pretty packaging is great. Smart packaging is better…
Pretty Packaging
1. Pass the 5-second test2. Differentiated & disruptive3. Consistent with and conveys
your branding4. Easy to read/understand
Smart Packaging
1. Fits on shelf2. Long re-stocking cycles3. Easy to stock4. Considers logistics
Tip: Test your prototype packaging with consumers & retailers. Get their feedback.
www.retail-path.com | www.buyerly.com
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
Next Class: Session 2
Getting to Yes: Optimizing the Retail Pitch
SESSION 3Building the Pitch
SESSION 1Getting the House
in Order
SESSION 4 Putting it All
Together
SESSION 5After 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 2Building a Strategic Roadmap
www.retail-path.com | www.buyerly.com
Session 2 Homework: Assignments
Getting to Yes: Optimizing the Retail Pitch
1. Week 2 reading2. 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 usec) 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
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 snackTo give a child as a rewardDenverLos AngelesNew York CityEtc.
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
example
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 302012 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
example
any questions?