Another product line review? So soon? If your company’s channel marketing strategy involves big box retailers, it seems that there is nearly always a product line review on the dashboard. In our research and creative support for companies that have been participating in these annual (or more frequent) “trips to the shark tank,” we’re seeing a few things about the process that have been changing the past couple of years. Among those changes:
1) Meetings aren’t always in a conference room. Instead they are often conducted in the planogram room or even in a store aisle where there are no Powerpoint projectors. Be flexible!
2) Related to the above, you should still prepare a Powerpoint deck and plan to send it in advance of the meeting.
3) Knowing the real agenda is extremely important. Are you invited to the review only to place pressure on the incumbent brand to reduce prices?
4) Pricing isn’t usually set in the first round.
5) Customer reviews and research insights are becoming important talking points to validate your category expertise.
6) Online traffic and sales history are critical factors right along with year-over-year POS sales history.
7) Brands are being eliminated on POP signage unless you can convince your buyer otherwise.
8) There is increasing pressure to make packaging consistent across brands.
9) Product innovation matters more than ever.
10) Regional assortments are pivotal to winning business.
These are just a few of the new trends we’ve noted as Product Line Review presentations have been evolving. If you have a PLR opportunity coming up, please give us a call at 815-847-7538 to talk about ways we might help you freshen your presentation with compelling research, a refresh of your packaging, promotional end caps, and other ideas to strengthen the partnership with your customer.