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Chain Drug Review & MMR
How to Get the Most from NACDS Marketplace
By David Biernbaum
David Biernbaum is a senior level Sales/Marketing VP, Master Broker, and Business Development Consultant with 25 years of NACDS experience.
Entrepreneurs and new suppliers often have exciting innovative new products that ought to be on the shelves in retail stores; however it's a sad reality that most newer companies coming to Marketplace will not make the most of the opportunity. Candidly, its not that they don't know their own product; because most do and have a tremendous passion for their inventions, but most do not come to the event with the right expertise about the industry, the retailers, and about the trade show itself.
In my consultative coffee talks sessions at this time of year we discuss how to greatly increase the odds for getting the right results that will pay dividends for months and years to come.It’s not simply all about the product.Here are some other components that need ample thought, planning, and the right expertise to make it work:
Carefully plan and implement a pre-show campaign several weeks in advance, even as early as mid-April. I don’t recommend phone calls to buyers. There are a number of better and more creative approaches. Also, use the NACDS web site "My Marketplace" to set appointment requests and to load up your company data. It works.
Know the differences on how to approach "Meet the Market" vs. the "booth," and prepare strategically for the Sunday retailer walk-through preview. (You will not be in the booth when that takes place!) Your preparation and planning for the walk-through is as critical as "Meet the Market."
Get your booth number publicized well in advance of the event with a compelling reason for buyers to make an appointment or to stop by for a visit. If you are doing trade ads avoid the over-used clichés and the all-too-obvious. By the way, everyone says "high profits" and "high margins." CPG buyers are professional people that are not attracted by contests and gimmicks. They need substantive "business" reasons to check you out. Oh, I always put my booth number on the back of every business card I hand out during "Meet the Market."
For Meet the Market you need to develop a short concise visual message that resonates quickly enough to inspire the retailer to have further interest and maybe later come to your booth. Avoid wasting time at Meet the Market with small talk, or by trying to accomplish too much. Avoid asking the retailer questions like, “how many stores do you have?” (They hate that question!) This type of information is widely available from NACDS and in many other sources well in advance of the event. Do your homework!
Your booth should be set up like a mini show room and "meeting area." In my "coffee talk" sessions we teach you the science of how to maximize your in-booth space for visual and functionality, and for conducting very successful meetings inside your booth.Your booth makes a first impression to the retailer for better or worse! Have a clean booth with just the right amount of samples and literature and ample room for comfortable discussion and meetings.
At Meet the Market, and inside the booth, make certain that someone takes excellent notes at every meeting. It's a hectic event so no one will remember all that was seen, asked, said, and promised.Make sure all the details of the discussions are written down and kept in a safe place for your follow-up.
Use the NACDS on-line resources and tools for pre-planning and organization. If you need help with maximizing the opportunities on-line, get some help!
Make sure that your booth is ready for business the very second the event begins. The retailer walk-through preview is a critical part of your success. Make sure you take full advantage by having a nice clean area for literature and your business cards, and by all means, get to San Diego well enough in advance with everything you need to have your booth completely built and ready for business the minute the walk-through begins.
Don’t try to be "overly" thrifty about getting your booth components and samples to San Diego. Use the right transport services and get the right help to make sure it’s all there on time. Nothing ruins your ROI worse then not having all your samples and arrivals at the show when it starts.
Attend the very beginning of each of the NACDS social events. Buyers don’t stick around long at these events, but when you meet with buyers off the trade show floor, please give them some freedom and space for their own relaxation and to chill. It’s best to use this time just to get to know people and network in a social way, not hard-core business.
Dress right for the event. No need to wear a three-piece suit with a white starched collar and red power tie. This is a business casual event. Over-dressing or under-dressing is not good.
After Marketplace is over the “real work” should begin. Make sure you know exactly how to follow up with the right communication and the right timing with each retailer.
Re-printed from MMR April/2008 How to Get the Most Out Of NACDS Marketplace Ask the Experts..... SAN DIEGO — The National Association of Chain Drug Stores Marketplace offers supplier companies a wealth of opportunities to connect with retail buyers. Taking advantage of those opportunities, though, requires some careful planning, two industry veterans say. The first step for exhibitors is to find ways to invite buyers to their booths, a process that should begin weeks before the show. InterQuantum president Anthony Raissen, whose firm provides marketing, advertising and other services to suppliers, recommends using clever e-mails and interesting formal invitations.
Consultant David Biernbaum, who has more than 25 years of NACDS experience as a senior-level sales and marketing vice president, agrees that a creative — but professional — approach is required. Phone calls to the buyers are not the recommended means of contact, he says, adding that suppliers should get their booth numbers publicized well in advance of the event and offer a compelling reason for buyers to make an appointment or stop by for a visit.
“Consumer Packaged Goods buyers are professional people who are not attracted by gimmicks,” Biernbaum says. “They need substantive reasons to check a company out.” Suppliers certainly should participate in the Meet the Market segment, Raissen says, where they should be prepared to pitch their item or items within five minutes, and they should have samples and one-page “leave-behinds” handy.
Biernbaum cautions against wasting time at Meet the Market with too much small talk, or by asking retailers questions (such as their store counts) that could easily be answered ahead of time by doing a little homework.
When it comes to the show itself, Raissen recommends making a booth inviting through the use of relevant props, but avoiding clutter. “The booth also should not be overcrowded with extra, nonessential people,” he says. “The goal is to stand out in a professional, positive manner.”
Biernbaum suggests that booths be set up like a combination of a mini-showroom and conference area. “Booths should be ready for business the very second the event begins,” Biernbaum says, noting that the retailer preview portion of the show can be critical to an exhibitor’s success.
Biernbaum also recommends being early for the NACDS social events, because buyers often do not stay long.
“The real work should begin after Marketplace is over,” Biernbaum says. “Suppliers should be sure they know how to follow up with the right communication and the right timing with each retailer.” Raissen suggests that exhibitors plan for follow-up ahead of time, by having an efficient plan for taking notes during meetings to ensure accuracy. Follow-up should be done in writing and by phone, he says, and include a request for a post-show meeting. Reprinted from MMR’s April 21, 2008 To contact David Biernbaum
David Biernbaum, David Biernbaum Associates, Inc. PHONE: (314) 434-6008,david@biernbaum.com
