Planning for buyer meetings – some top tips
It’s that time of year when many businesses are planning for the next round of buyer meetings in preparation for 2020 range reviews. With so much to think about, I’ve put together my top tips based on many years of experience pitching to buyers.
You’ve spent months researching names, from assistant buyers to category managers, countless hours trawling the internet and your efforts have finally paid off. You’ve made contact with the correct person, and you’ve got a meeting… Prosecco time? Not yet…
Knowing your product, its costs and product benefits should be a given, but in addition to this take a step back and really analyse why the consumer will buy your product. What will make the consumer pick up the product? This is about working with buyers to deliver products that consumers need, perhaps pay a premium for and fill a gap within that category.
Prepare and Plan for the Pitch
To get a meeting, the buyer obviously like your product but keep in mind that they get sent lots of e-mails so by the time the big day comes around they may have forgotten everything you have told them so far. So, don’t leave anything out when it comes to your presentation, here are some tips to get things started;
- A bit of background goes a long way; if you started making jam in your kitchen for your friends and family, tell them about it. Speak about your plans for the future and how you see your product and company progressing. Don’t forget to include them in your plans.
- Research the market. This is so important when it comes to pitching your product. Your buyer may look after everything from tea bags to bin bags and can’t possibly know every market trend in between. Show them you’re clued up on what’s going on in your particular sector. Walk the aisles. Visit the stores and visit all formats of the retailer (superstores, convenience, forecourts etc). Watch how consumers shop the category – it’s amazing how much you learn.
- Nail down the USP of the product and practise how you demonstrate the product; make it look its best! What makes your product different and how is it going to stand out from the competition? Maybe your new washing line has a text alert function when it rains. Focus on this fabulous uniqueness and provide some insight as to who will buy it (count me in for the washing line).
- Don’t forget the detail. You should know your product inside and out. Think of everything a buyer might want to know. Fumbling through your tatty notebook while humming the theme tune to The Simpsons doesn’t look professional in anyone’s book.
- How will you support the brand, external to the store and inside the store – what exposure to your brand/product will consumers have before they pick up your product? Get the buyer excited about your plans.
- Lastly, make a list of what you want to get out of the meeting. This should keep you focused and by asking relevant questions you will demonstrate that you have serious potential to become a valuable supplier.
How Wynne Business can help
At Wynne Business we can offer assistance at any stage of your journey, from the initial concept right through to getting your product on the shelf. Get in touch for more information on our bespoke solutions contact firstname.lastname@example.org.