It is not just about Product
Because your competitors are offering a service as well - Business Intelligence
Without a doubt product matters. At the same time product alone may not be enough to compel buyers and sell your story.
More and more vendors are adding quantitative and qualitative analysis to their pitch. They are using demographics, geographics and proximity analysis to best insure the sale of their product.
This enables them to stand out as compared to their competition. It resonates with buyers as it serves as a way to minimize risk.
Where to begin
So perhaps you are ready to give this a try. How do you go about it? If you have a licensed product, tie license demographics to store level information. If you have success with a product or brand at other retailers, find out which stores have been most successful and find stores with similar geographic or demographic profiles in the retail chain you are pitching. Finally, get creative: use market research and proximity analysis to support a suggested test order. For instance, if you have a skate brand, find stores located near skate parks for a test.
Follow up as well
Track your sales - suggest replenishing doors that sell out. Suggest adding similar traited doors to the distribution. Have - as one of our clients called it - "intelligent" conversations with the buyer on a continual basis. Track, improve and discuss your scorecard.
If this interests you, we invite you to learn from us and our experiences. We have witnessed many a successful launch of multi-million programs using these techniques.
Jim Lewis
Founder and CEO
Please keep us informed
We would like to know what issues you face and how we can help, including any future classes you feel would help your business. Please click here to send us such an e-mail.
