By Cody Grandadam
As retailers gear up for the busy fourth quarter and holiday season, many are looking to find that next big thing or great deal. In fact, that is why many retailers are attending the ever so popular and growing ASD Show. However, once you find that great deal or your best product in years you need to implement a good, strong marketing plan, which could be expensive.
Luckily, it doesn’t have to be. You can use your buying leverage, and business savvy to position yourself with your vendors to do the marketing with you. Manufacturers, wholesalers and distributors all alike want to sell their products in your stores, just as bad as you do. They are competing for store space, and know they will only get it with continued sales. Here’s how to get started.
1. Create a rebate program
Let your vendors know that of all the items in your store this fourth quarter you want to market theirs. Negotiate a rebate for either the purchases made during a certain period of time, or on the sale of their items during the promotion. You can use that rebate to fund a program that will allow your employees to spend more time showing and promoting the product. Or you can use the rebate to make a door buster of a sale.
2. Update your signage
The holiday season last more than just a couple of months, and if your still promoting things you had on sale the prior month, you probably should update your signage. You want to bring attention to the deal you are offering now and not to your faded and worn sign. Reach out to your vendors and again tell them your plan to promote their items. Ask them if they could help you by sending you new signs showing their items on promotion. Be sure to always update these to keep your store exciting, new and fresh.
3. Schedule product demonstrations
Nothing sells an item better than seeing it used live in person. It can be expensive though to have one of your employees demonstrate the product. Reach out to your vendor to request a demonstration, especially if you are buying locally. No one knows more about the product than those manufacturing it or distributing it. Ask them if they could spend some time in your stores. Remember, everyone wins when the product sells. As a flashlight manufacturer and distributor, we are excited and happy to hear from our customers that are willing to promote our products. Your current vendors should be no different, do not hesitate to ask for a little help. They are probably waiting for your call right now.
Most importantly, have fun. People want to do business with those they like. Make the buying experience enjoyable, and you will have customers that keep coming back again and again.
Cody Grandadam is president and founder of Promier LED, a leading flashlight company that specializes in innovative LED flashlights. The company has sold its products to more than 30,000 locations. The vast majority of its merchandise is sold in display shippers, designed to be placed on counters in impulse areas. For more information on Promier products, visit promierproducts.com or stop by booth SU2051 at the ASDLV Show, August 3-6.