The big boys in retail are very successful at tapping into their supply chain for support, information and most importantly, MONEY. The following are examples of tactics followed by smart retailers. The majority of your suppliers who also trade with chain retailers (e.g. supermarkets) would be familiar with all of these and there is no reason why you could not tap into the same resources.
- Slotting: Being paid to make shelf space available for new products.
- Allowances: Receive marketing funds to be spent on things like signage, advertisements.
- Co-operative advertising: Jointly advertise (e.g. top-and-tail style ads) where both parties feature and both parties pay. (Think how Harvey Norman advertises leading brands.)
- Performance Incentives: Negotiate similar deals with suppliers.
These are just a few. Sometimes the arrangements for some of these programs can be a bit complicated, for instance having to accrue points before you receive a rebate.
But that is not the real obstacle. The only reason why newsagents don’t tap into these programs is because they think they are too small. Of course it would have been easier if the whole channel co-operated, but even the smallest individual retailer can access trade marketing dollars. (And besides, not every supplier is a national giant.)
How do you do it?
STEP 1: A good relationship with your representative! That’s it: simple human relations. Because people LIKE dealing with people they LIKE.
It does mean you have to invest time in the relationship of course. This means leaving the counter – maybe even leaving the store and investing in one-on-one time with the rep.
STEP 2: Just Ask.