In this article, I’m going to dive into how to maximise your relationship with a retailer contact. It’s all too common to hear from friends and business acquaintances about partnerships that quickly fizzled out or never even got off the ground. My goal here is to share what I believe are the best strategies for managing a valuable retailer relationship to ensure you make the most of it.
Make sure your proposition aligns with their needs
So, you’ve secured a retailer contact—exciting! They’re interested in your product, and you’re eager to see it on their shelves. But before you move forward, have you confirmed that your pricing fits within their store’s range? Being prepared to work with a retailer is crucial. Make sure your product aligns with their key demographics—who their customers are, their pricing strategy—what products typically sell in their store, and whether your price point fits.
Ensure you can handle their margins and support them in selling through your products. If you can’t check all these boxes, your product isn’t ready for the retailer. Approaching them prematurely wastes everyone’s time and sets you up for failure.
Finally, make sure you have the marketing capabilities in place, such as an in-house PR team or agency, and the ability to distribute thousands of samples to influencers, print and digital media, and key opinion leaders (KOLs).
Listen carefully
Listening to the buyer is absolutely essential. While it’s important to have a clear strategy for your business—knowing your goals and what you’re offering—you should always start by asking, “What are you looking for at the moment? What do you need in-store?”
Pushing your products without understanding their current needs is counterproductive. Retailers often seek products based on in-store demand. At trade shows and exhibitions, the first question we at Dr.PAWPAW typically ask is, “What are you looking for right now?” Their response might be something like, “We’re interested in products with hyaluronic acid and niacinamide,” or “We’re looking for innovative lip balms.” From there, we tailor our presentation to meet their specific needs, often building a custom pitch deck before a meeting with the buyer.
It’s also crucial to understand and listen to their terms and conditions, promotional plans, and any other requirements they have to help sell through the product. Don’t be surprised later by their promotional expectations—these are usually necessary for success in retail.
Build a genuine relationship
In today’s digital age, it’s easy to rely on emails, WhatsApp, and other digital connections. However, nothing beats a face-to-face meeting. Occasionally getting together over a meal or a drink, and sharing stories about life outside of work, can go a long way. At Dr.PAWPAW, we recognise that buyers are more than just employees at a retailer—they’re people. They’re parents, friends, spouses, and siblings, all striving to succeed in their respective roles. We make a point to ensure they know we’re real people too, and we strive to build authentic connections.
While this approach may not fit every business model, at Dr.PAWPAW, a business that is based on fun, we find it invaluable. I highly recommend taking a similar path if you want to create lasting, fruitful partnerships.
In conclusion, building a strong relationship with a retailer goes beyond just having a great product; it requires careful alignment with their needs, attentive listening, and a commitment to genuine connection. By ensuring you’re fully prepared before approaching a retailer, you set the foundation for a long-lasting and successful collaboration.
