Picture this: You’ve developed the most ingenious product. In response to a consumer need, you’ve filled the market gap, have launched the product and now you’re ready to sell.
But then – crickets.
It seems like the hard work is wasted, or you were wrong about that market gap you discovered, and after months of research and development – let’s not mention the late nights and sacrifices – you just can’t seem to sell your product.
The reason could be this: You need a trade marketing plan.
Trade marketing, a form of B2B marketing, is all about getting in front of the retailer.
If the retailer knows about your product, the chances of your product hitting store shelves increases significantly. And it goes without saying that when your product is on the shelves (and hopefully on the premium shelves), well, this is where the customers are. Are you with me?
5 reasons why you need to be trade marketing
- Education. This is your time to educate the retailer about your product and how it’s different to everything else on the market. It’s your time to shine.
- Awareness. Trade marketing helps you increase your brand’s awareness – you won’t get sales unless people know what you’re selling.
- Reach. Trade marketing helps you to go from a little local store to a national giant.
- Networking. The saying goes, it’s not what you know but who. Trade marketing gives you an audience with the retailers – the decision makers, increasing your chance of getting your product on the shelves.
- Fundamental. Trade marketing should be the foundation of your overall marketing strategy – it complements your consumer marketing plan. Let’s face it, you can advertise to consumers all you want, but unless your product is on the shelves, no one is going to buy it (or at least not as many people as could buy it).
Trade marketing is a no brainer – really, you’d be stupid not to! Even the best laid B2C plans will fall flat without the foundation of an effective B2B strategy.