An amazing $11.44 billion will be spent on product placement in the United States in 2019. That’s good reason to pay attention to these 10 retail product placement tips for small business.
Small Business Trends contacted Tim McCouch, Vice President, TLK Fusion, to find out more. He started by defining product placement.
“Retail product placement is more than just getting a brand onto a store shelf,” he writes via email.
Retail Product Placement Tips
Highlight Your Differences
McCouch says a big part of product placement is highlighting what makes your product different.
“There are a number of brands trying to capture attention. Being prepared to talk about what makes your product stand out is essential,” he writes.
Creating an interesting message around a true story is one technique.
Plan Ahead
It’s important for retailers to plan in advance. McCouch says a buyer for a retailer could be looking in June for something they want on the shelves for April.
In other words, plan ahead.
“Make sure your own finances aren’t tied to getting an immediate order,” he writes.
Think Big/Start Small
He also says learning to walk before you run helps. A deal with a national retailer doesn’t mean you’ll be in every one of those stores. Starting on an smaller e-commerce platform will give you a good idea of how to proceed.
Brand Your Product Clearly
Small businesses have unique back stories about their product. Those aren’t always good selling features. You need to be clear and make sure the branding and name tie back to your product.
“Naming a skincare brand after your first born or the family pet, while cute will not gain the confidence of consumers or the buying community,” McCouch writes.
Getting some professional advice from a marketing firm works.
Get A Partner
If you are a small business owner, you’ve probably developed the product. You know all about it but maybe not so much about other aspects like sales. Get a partner who understands how to sell your product so it gets on the shelf quicker.
Deal with Rejection
Not everyone your team approaches is going to place your product. Rejection is part of being a business owner. Asking for feedback after some one has turned you down can give you valuable insights.
Build a Solid Marketing Plan
“Have a solid and aggressive marketing plan that announces your partnership with the retailer,” McCouch says. “Most retailers want you to help support sales.”
Making sure they can work in digital and more traditional media like print covers all the bases.
Implement an Omnichannel Strategy
“It’s a digital world, and online search and social media are playing big roles in consumer buying decisions. Brands can use their digital presence to drive consumers in-store ,” writes Alex Membrillo CEO of Cardinal Digital Marketing.
Don’t forget to hire a team that understands the basics like search engine optimization.
Place Product at Eye Level
Remember there are still lots of traditional brick and mortar considerations for product placement.
“Shoppers begin looking at the shelf at eye level, working from left to right,” Membrillo writes. “Just note this is different for men and women. So you may want to be up or down a row on the shelf. “
Look for Impulse Areas
These are usually areas near the checkout counter.
“We’ve all been there where a magazine or pack of gum was tossed into the cart at the last minute,” Membrillo says.
Your product should be low-priced and small to take advantage of these coveted spots. It can be hard to score one of them from a larger retailer. You might need a major distributor negotiating on your behalf.
Image: Depositphotos.com
This article, "10 Retail Product Placement Tips for Small Business" was first published on Small Business Trends
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