WholeLife Matrix: Financial Viability / Marketing & Sales
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”
— Peter Drucker
How do you know if you should send a sample of your physical product to a business that might want to review it or sell it wholesale? Here are some tips that will help you to decide.
1. Magazine Editors
A magazine editor who wants to feature your product will usually ask for a sample of it so that they can try it and review it. Larger magazines have larger budgets and so they may even send your product back for you if you request it. To decide whether or not to work with a particular magazine, consider the amount of circulation the magazine receives.
In certain cases, it may be enough to send just a photo of your product to a magazine editor and not send a product sample. But bloggers will request a sample in most cases. Sometimes, they even request to receive products whose price adds up to a minimum order value. This is because, unlike magazine editors, bloggers do not get compensation for the product reviews they write. Bloggers also do not send your sample product back to you.
3. Retail Stores
When it comes to retailers, it is best to only send completely free samples to large retailers. This is because, in order to pay for your sample, they would probably need to go through many steps with their accounting department. So it is easier and takes less time to just send them a free sample. Smaller, independent boutiques should pay for the wholesale cost of the product sample since you can’t afford to send completely free samples to everyone. However, you should offer to pay them the shipping cost. This way, you are both sharing the cost of the product and shipping charges.
4. Sales Reps
Working with a sales rep is similar to working with your own marketing team so the sales rep will need a free sample of your product in order to promote it. Sales reps also share your products with clients and stores so they may ask you for more product samples if they run out. Before working with a sales rep, interview them and get recommendations from current or past clients to help ensure that they will be a good fit.
Like sales reps, distributors also need product samples. Some distributors have sales rep teams, in which case, each of those reps may need a sample of your product. Some distributors are also part of Marts such as the San Francisco Gift Mart. Buyers come to them in the mart, where they have a showroom in which they can display your products.
For more ideas on how to market your product click here now to set up an appointment to talk to Ralph.
Business Coach, Author, Artist & CEO
310.372.8538 | Ralph@Consulting2Win.com
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