A few years back, I hosted a Selling to Retailer’s Mastermind Group where the members asked interesting questions and participated in answering those questions.
Since many of those questions were asked by others over the years, I would like to share one of the questions here.
Following is one of discussion on ‘First Time Order Incentives’ which is compiled in my newly updated mini e-guide, The Best of Mastermind:
Are people finding they have to offer an incentive (free shipping, free gift with purchase, etc) to get initial orders? And if so, what seems to work for your product?
— Free shipping on orders over $xxx is a good one. We have a friend in the huckleberry gourmet food business, who used this tactic to dramatically expand her business… she used a $500 benchmark for free shipping. POP displays are sometimes useful. One thing we did, to get more shelf space EARLY in the year, was offer Net 90 on orders placed in February (two months earlier than people usually order). We got some nice early orders out of that… did not help the cash flow right away, but increased our total spring sales.
PS Incentives are especially helpful at wholesale trade shows. Put up signage” SHOW SPECIAL: Free shipping on orders over $xxx!
— Offering Net 90 in February was a great incentive not only because we got shelf space early, but we beat out our competitors from getting the same space. If properly managed with follow up, we kept that same shelf space all spring and summer with reorders.
This is just one of the many Questions and Answers to selling wholesale listed in my 61 page Mini E-Guide: The Best of Mastermind: Selling to Retailers
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