31 Oct 2018
How new businesses and small businesses can fire up their retail sales and list listing
The innovation of technology products is developing at a ferocious pace and there’s a gadget for everything and everyone these days. This has resulted in a very competitive retail environment both on and offline with a continuous flow of new products being launched to market.
However, it is important to note that much of the new tech coming on to the market is originating from innovative start-up brands who may or may not have the marketing muscle or budgets to compete at the same level as established brands. For example, brands like Tile who have a limited portfolio of products but are bringing innovative tracking technology to the smart home category. Innovation from these types of company is fuelling this exciting technological transformation, but we must make sure that these products get to see the rabbit so to speak. Without brand recall in retail, many brands get lost in the noise those with ‘bigger’ budgets are able to shout about. Your route to market should not merely rely on the big online retailers to show consumers.
Businesses spend time, money and energy pitching to buyers but many fail to prepare properly for when the listing finally gets the green light which in most instances can take months rather than weeks as many brands hope. It may also only be a sample of a retailers estate in which the brand gets the opportunity to prove the viability of their product. Once a retailer presses the button a brand must fit with the retailers’ timelines and expectations and retailers are savvy operators, not to be underestimated when understanding what their shoppers like. So when the listing begins is when businesses really need to move product, especially in traditional brick and mortar stores.
Some brands are astute enough to have created a strong online presence and awareness already via their own platforms or investment in an advertising campaign but for many building brand awareness and driving conversation really starts with retail. So, what’s the best retail strategy for a start-up technology brand?
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