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Related Services to Launch a New Product

So you have invented the next great thing, and you are convinced it will be a hit. In fact, you are really eager to start selling it. The test market has only been positive about your product. However, how can you reach the legions of consumers who will want to buy it?

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1. Create a Sales Plan

First, define your market as accurately as possible to have a deeper understanding of exactly who you are selling to. For example, instead of all women, it is better to use a more specific target such as working women with above-average incomes and with kids under the age of 5. Instead of all men, it should be divorced men in their 40s with six-figure salaries. The more specific you get, the more accurately you will be able to understand your sales and marketing efforts. This makes it easier to chose the sales channels most receptive to your product.

2. Developing a sales plan

Before you say, “Another plan,” comprehend this can be a straightforward report that could enable you to compose and thoroughly consider your business procedure. Compose it in a way that bodes well for you. Normally, it has to incorporate the following:

  • Sales objectives
    Objectives have to be particular and quantifiable. Construct them in light of the idea of your item and attempt to split them into reasonable parts. For instance, pitch 60 units to end-clients in 30 days and pitch 110 units to local independent retailers in six months.
  • Sales activities
    For these activities, you need to think about your strategies thoroughly. How do you intend to make the deal? You could state that you will sell direct-to-consumer through a site or by means of specialty appears, for example. Or, you could state that this piece of the arrangement may incorporate exercises like building up a sell sheet to send to autonomous retail locations.
  • Target accounts
    Incorporate the records you need to pitch in your business design. For instance, arrange for how you will be contacting end-clients through eBay, characterized advertisements or your site.
  • Timelines
    Plan when you will be executing these different marketing actions. This way you can characterize your means inside a sensible course of events. Bear in mind that your courses of events should be logical. In case you are underachieving, your business design can enable you to find out the reason and characterize the steps you need to take.

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3. Build Your Market

To learn how to bring a product to market, begin by selling directly to end-users. This will give you confidence that there is demand for your product. It will also create referenceable customers that you can contact for product and packaging feedback before you hit the bigger leagues.

So where can you reach your end-users?
The web is one highly effective channel. You can also reach your market through your own website or via a site like eBay. You can also tap into your own personal network. Host a home party to share your product with friends and friends-of-friends, sell through local community groups and e-mail your network.

Once you get feedback directly from your customers, refine the packaging and price point before approaching your next market wholesalers. You’ll probably start with small, independently owned, local stores. It’s a good idea to start with those before hitting larger chain stores. Since it is easier to get in touch with the direct decision-maker. They also become more inclined to take on new, unique or hard-to-find items to differentiate themselves from larger stores. To sell to these retailers, get prepared and bring a product sell sheet, photos, product samples (if possible) and a succinct introductory letter to explain what is in it for them, emphasizing your product’s profit margin, features and benefits, and proven sales record.

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4. Expand to New Markets

Once you have set up sales strength with free retailers and are prepared to help new markets, it is a great opportunity to pitch to the serious canons. Obviously, those who own huge firearms will rely upon your product. For some businesses, these can be powerhouse general mass retailers, such as Wal-Mart and Target, while different products will fit more particular retailers such as Williams-Sonoma, The Sharper Image, Sephora, etc.

Note that when managing these significant accounts, the sale is the start of the arrangement. Dealing with satisfaction returns, rollbacks, opening charges, promoting and more will require fortifying your business’ framework and resources.

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So let’s take a closer look at the deal. What is the ideal way to approach a bigger retailer?

  • Get the correct purchaser
    One of your greatest difficulties is finding the correct purchaser inside a vast association. So, get your work done. In case you are encountering barricades, consider employing a distributor or producer’s rep who as of now has set up connections in your industry.
  • Get prepared
    Develop an introduction and have proficient looking offer sheets prepared. Your item needs to have bundling that is ready to go.
  • Know your objective
    Understand what items they convey and how yours will fit in. Try not to squander your time pitching to a retailer who is probably not going to convey your product.
  • Take advantage of extraordinary projects
    Some mass retailers, for example, Wal-Mart, have local buy programs that give chiefs specialist to attempt nearby items. Also, different retailers may have distinctive activities, for example, minority business programs.
  • Be patient
    It can take up to a year or longer before you see your item on store racks, so do not get disappointed. Also, if the last answer you get is a no, attempt to take it as a learning experience.

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