There’s no doubting that pitching to buyers can be a daunting and challenging experience. Appointments are much sought after & are often kept short, so the right preparation for that perfect pitch is crucial when it comes to making a good impression.
Our top five tips for preparing for a buyer meeting are:
- USP’s – be clear about the key selling points you need to communicate, don’t assume the buyer will instantly ‘get it’.
- Know your product costs inside out – and make sure you include all the extra costs of working with the retailer (promotion costs, POS costs etc)!
- Category research – look at competitors, market data, market trends to see where your products sit & that there is a gap for your products in the market.
- Retailer strategies – find out how are they positioned to work with your brand.
- Retailer product range – think about how your product will fit within your target retailer’s category.
The Pitch itself should bring together all the elements of your preparation to communicate a clear message to the buyer: that they will increase their overall category sales by selling your products in their stores. Tell them who will buy your products, how you will bring consumers to their category by marketing your products & how you will drive trial of your product through their stores. Take along products for them to try (or packaging concepts & kitchen samples if they aren’t ready yet) and be prepared (& happy) to receive honest feedback from buyers who will usually tell you what they really think!
At Wynne Business we work with business owners to launch and grow food and drink products into retail. With most of our clients we approach buyers on their behalf, but for some consultancy clients we can support them to make their own approaches. With 20 years of experience working with retailers, with proven techniques gained through securing listings with Waitrose, Tesco, Sainsbury’s, Asda, Co-op and Morrisons, we are well placed to provide practical advice or help when building a story, trade presentations & even virtual pitching.
Wynne Business specialise in launching products & driving brand growth with UK retailers. We can help with any aspect of the sales & marketing process & offer tailor made packages for SME’s. Speak to us about your brand today!