The right distributor is a catalyst for great sales of your products. Through distributors, your product’s market potential can be fully explored. However, you must ensure that your product is prepared for success as distribution is not the only determinant of market success. Product viability and acceptability are vital factors that influence the success of a product in the marketplace.
Before you send your product to a distributor, ask yourself the following questions and give honest answers. These answers would help you identify critical things you might have left out in your preparation.
Is your product ready for the market?
This is not to discourage you but to affirm the readiness of your product for the market. Your product must be fully developed and functional before you send it to the market. Make sure you conduct necessary tests and checks to ascertain the product suitability for the market.
Only approach a distributor when you have perfected your product’s packaging and know what its price points would be. It is also essential that you know how you would supply your products if demand skyrockets.
What is your marketing strategy?
Have a concrete plan for marketing your product. The distributor’s job is to get your product to the appropriate markets and not to publicize or advertise for you. The distributor’s role cannot be substituted for a marketing plan. The distributor supports your marketing plan. Develop a complete marketing plan to help your distribution.
Have you identified your target market?
Your target market is a specific demographic that needs your product. They are people you made the product for. Your relationship with a distributor will be successful if you can provide him with information about your specific target market. You will be sure of the distributor’s ability to meet your expectations.
How well do you understand your distributor?
You will be working with your distributor directly to sell your product. Prepare for that. Seek information on how the distributor operates, what kind of products he deals in.
Also, seek references. Ask for testimonials and referrals from other stakeholders. You can also ask retailers for references and recommendations based on your target demographic.
Who is your competition?
You will be doing yourself a great favor if you try to understand what the market competition for your product is like. Study your competition and follow the distribution channels and distributors that represent their products. You would be able to develop strategies to ensure the sales of your product. Also, you find the distributors that already have success in selling products to your target audience.
You stand the risk of your product not attaining it’s full market potential if your preparation isn’t adequate. You need a winning pitch to convince a distributor to sell your products. Thorough preparations and product evaluation would give you that.