[Music]
hey everyone this is Karen Waxman
founder of retail MBA and today we're
going to be covering the five things to
consider when pitching retail chain
stores so if you have a great product
that you think would be perfect for
Walmart or Macy's Home Depot Kroger
grocery store or whatever it is for you
we're going to be covering the five
things to think about when you're
pitching them when you're reaching out
to them with your physical product so
let's talk about those five things so
the first thing I want you to consider
is that most the time they can't cure
you so what does that mean it means that
a lot of times people are reaching out
to retail chains maybe they got a buyers
list and they paid for it or maybe they
submitted their product online to
retailers or whatever they're just
following their own strategies you're
trying to cut corners and save on cost
and and they're just going out to
retailers themselves but what happens is
if you don't know how to pitch the buyer
correctly they're actually going to look
at your information kind of skim it and
either not reply or you're just not
gonna get your products in the stores
because a lot of times you're not saying
the words the things that matter to them
correctly and so they just kind of
ignore you so I've seen some of the most
amazing products not get into retail
chains simply because they are not being
heard by the retailer because they just
didn't take the time to really consider
finessing the verbage and setting it up
correctly learning about how to do that
and so forth before they pitch retailers
so a lot of times just can't cure you
and that's too bad because you know you
deserve to get your products in the
retail chain so bottom line
focus on creating the best possible
pitch for your retail product it will
make a huge difference for your business
next thing to consider is they want more
info about what you've done in the past
and so what does that mean so a lot of
retailers pretty much every retailer
would love to hear about your retail
successes if you've sold anywhere before
let's say you're trying to sell the
Walmart they'd love to hear about any
other retail chains that you've sold
into why because they love to hear that
your product is not so risky you see if
you've never sold your product anywhere
before
they may get concerns that your product
works sell in stores so what do you do
if you haven't sold your product
anywhere before
well there's ways to express that in
such a way to get the buyer to believe
that your product will sell that your
product will make them money even if
you've never sold anywhere before how
can I say that I've taught tens of
thousands of people across the globe on
how to get products in the retail chains
I have so many clients who got in the
world's largest retail chains without
any you know sales they haven't gotten
their products the stores anywhere they
went from selling nothing to getting
into the majors and so forth so I know
it's possible but it does require a
little extra handy work and so forth but
generally speaking they want to hear you
know what's been done and so forth
because they want to make sure the
products going to sell once they put it
in stores again all this is learning but
you know you just have to consider that
the next thing that most people don't
realize when they are thinking about
things to consider before or when
pitching retail chains is that these
buyers can't ignore you what does that
mean well most people have the common
misconception that the retail chains
don't care about you and have so many
products and stores that they're not
really going to pay attention to you and
the answer to that is absolutely
ridiculous today more than ever you
chain stores are hungry for the next new
product I have friends who are Walmart
buyers trust me I talk to all sorts of
retailers all the time I do large events
and so forth and we partner with buyers
and everything so I know that these
buyers are scouring the web going to
trade shows you know excited about when
people approach them in very specific
ways but trust me they are looking for
that next food product and the reason
that's important for you to note is
number one do not not consider retail
because they're not interested in
looking for new products it's not true
the other thing is they don't mind if
you're a small company if your startup
or whatever as long as you present
appropriately it would be very
interested in the product and the reason
for that is because their customers are
looking for that next new product and
these retailers know that they will lose
clients if they do not get new products
in those stores it's a very different
game today than when I first got started
back in the day it was very not a big
deal if the big
manufacturers ran everything today small
companies are basically able to get the
source of fairly easily and that's
because these customers want that next
to product and the custom the retailer's
know that the small guys have that
product so definitely our hungry for new
products next thing to consider is they
want more insights today than ever about
your systems and your processes so what
does that mean these retail chains are
really curious about who you are as a
business because they are really afraid
that if they do business with you that
you might not deliver right because if
you don't deliver they lose they have
nothing on the shelves every square
footage is accounted for so what that
means is they're going to look into what
you're up to make sure that you're gonna
be able to deliver on time they're going
to look at your shipping your
deliverability sometimes explore your
manufacturing make sure that you got
everything figured out they're going to
explore you know you and funding and
whatnot you be able to pay for these
orders because they just cannot afford
for people to mess up when they're
working with them and so the good news
is all the stuff is learn about all this
stuff can be cost effective it doesn't
have to cost a lot and so forth but it
is something that you have to think
through before you reach out to these
guys or when you're pitching up to them
because they actually are going to care
about your systems and processes because
they want to make sure again that they
are having a great partner it's worth
their effort to work with you the next
thing is and the final thing is that
they wish you wouldn't annoy them that's
pretty funny to say but a lot of people
reach out to retail chains and they
reach out directly the buyers are so
forth but they do in a way that's really
infuriating to a buyer and so the buyer
is not interested in their products now
that doesn't mean that the buyer doesn't
want to hear from you now if you
approach them in a way that's effective
that's interesting to them that you're
saying the right words trust me they
would be happy to know about your
product is happy to know about you but
the problem is a lot of people are
sending out information to the
retailer's
long-winded information lots of detail
lots of words these buyers don't have
the time to kind of decipher code
because you may think that you have
explained your product perfectly but for
a retailer you know they don't have time
to read through everything to figure
stuff out and where they don't have time
to open 3d graphics or whatever people
get
very creative when they're very excited
about their products so my point is
sharing that with you is that they would
love to know about you but a lot of
times you annoy them so you definitely
want to learn how to actually approach
them correctly because if one chain
store order could be you know 10x or
100x tons your business I mean it can
grow your business exponentially so I
hope that helps the five things to
consider when pitching retail chains and
again this is care wax and retail MBA if
you are interested in learning exactly
how to approach pitch and sell the
retailers we actually do a live event
almost quarterly our events are called
retail MBA live you can take a look at
the link below the website for that
event is retail MBA live.com and
basically not only do we spend a full
day with you walking you through exactly
how to make money with your physical
product we help you create a pitch your
strategy everything we also help you
partner and get your products reviewed
by retailers and so forth so definitely
want to come to one of our events
because they're amazing and magical and
people love them so anyways hope this
helped and by the way please be on the
lookout for additional trainings that I
create because I'm here to support you
and actualizing a dream of getting your
retailers thanks so much
you