The Science of Trade Marketing — Issue 1: Introduction and Strategy
What Is Trade Marketing?
We better fully grasp this answered before we go further. Although it has similar processes, Trade Marketing is distinct from Brand Marketing in a really important way. Trade Marketing is focused on marketing to your supply chain instead of to consumers. Put simply, it is how you market your products on the usage that will enable accessibility end people that your Brand team is intending to draw. Trade Marketing creates access and distribution.
Need for a Trade Strategy
In too many companies, the Trade Strategy consists of hiring some salespeople and permitting them to play selling to the customers or prospects that may take a consultation. Even if this will definitely get results, they won’t necessarily be great ones and it’s also an exceptionally inefficient model to adhere to. In case your resources are unlimited, go ahead and flounder about. For those of us which has a budget, however, it is advisable to formulate a method
There are several important components with an effective Trade Strategy including Trade Communications, Trade Events, Trade Programs and Trade Coverage. Because of this article series, we are going to focus on the most crucial component, Trade Coverage, as well as the associated processes. I think of it as the most important because it necessitates the majority of the resource time for your whole sales structure. The 2 reasons this is extremely important is simply because 1) they represent an extremely large amount of the SG&A dollars for virtually any organization, and a couple of) they represent your entire communication and relationship pipeline to everyone your customer and prospects. With this much at stake, you better make an attempt to get it right.
Aspects of Your Strategy
When we hear strategy they start thinking of a more sophisticated scheme that is to be the silver bullet their organization uses to slay competition. You better think again. There isn’t any silver bullets and the simpler your approach is better. The greater complex your strategy contains the more difficult it is to be aware of, communicate and implement. Choose a simple strategy and stick to it.
That being said, listed here are the basic components of a fairly easy Trade Strategy.
That are You Likely to Call On — This can be the concise explaination your universe. It is a list of attributes instead of a listing of actual customers or prospects. It could incorporate the geography, channel, type (e.g. wholesale or retail), etc.
Who Is Going To Call To them — This can be the meaning of your Customer Touch Points and procedures. It would include options for example field salespeople, telesales/telemarketing reps, customer satisfaction or technical reps and management structure.
How are things Likely to Call On Them — This can be the concise explaination profits and/or Call Process. It could include options for instance a specific selling methodology or step-by-step process for making a trip.
When Will you Contact Them — This can be a meaning of your call prioritization as opposed to a period or year. In effect, this is a prioritization or ranking of customer attributes which are most crucial to you.
That nearly seems too easy, don’t you think? Actually, it’s pretty easy to create a Trade Strategy. The problem is in both implementing it and in keeping the whole organization aligned by using it. At this stage, you would want to document your strategy and communicate it to key stakeholders. From here you’d probably begin the next step in your Trade Marketing planning, Customer Census.