Taking part in tradefairs can be really exciting, but also nerve-wracking.
They are a fantastic way to market your business B2B and see an array of retail buyers, distributors and your competition all under one roof, but also come with a lot of work!
The investment in time, effort and MONEY is likely to be HUGE and you really only have one chance to get it right…
When you are preparing your products for your tradeshow, it’s always a good idea to step into the buyer’s shoes…
A retail buyer’s job is to ensure that they have built a commercially balanced range – offering just the right amount of choice to their target customers.
In order for you to create a balanced offer for your stand at the tradeshow – Your job is to step into the buyer’s shoes and breakdown how the buyer is buying the product for their stores. This will involve you doing a bit of indepth research.
In retail – A clear and concise product offering will be attractive to the customer, have clearly defined exciting product statements, have a clear balance between what the core lines are vs the trend or seasonal offering and it should enable the customer to trade up and down within the price architecture of the range enabling them to clearly understand VALUE of the product between the different price points.
You have to remember that Buyers only have a finite amount of retail space and budget so when they are making these crucial decisions, they are likely to be making some tough choices and therefore to bring a new range or product in, it will likely be replacing an existing product line.
So, arming yourself with the knowledge of how retail buyers buy and PLACE their products in the market will help you to align your tradeshow offering with the sort of retailers that you want to be stocked in and their goals and values.
The best way is to DO YOUR RESEARCH and understand the market and your competition within it.
Analyse what’s out there already in your category to help you finesse your product and brand story, nail what really sets you apart from your competition and what makes your product different way before the actual tradeshow.
The knowledge you’ll gain from taking the time to do your research will give you the confidence to market your products and have meaningful conversations with buyers at the show when you meet them.
Of course you can do this on the internet – but if you are looking to get your products into a bricks and mortar store – nothing will beat you actually getting out and GOING SHOPPING!
WHEN you walk the stores, you also get a feel for the customer experience that the retailer is trying to achieve, how they display their products and most importantly density and nothing will beat you being able to pick up, touch and feel the products for yourself.
When you are doing this exercise, you have to Step out of your creative brand owner shoes and think like a retail BUYER!
