What Is Trade Marketing?

  • Let’s start off with a definition of trade marketing. Trade marketing, to put it simply, is a B2B marketing strategy aimed at getting a product onto store shelves. This is done by making other businesses recognize the value of your product, and convincing them that helping you sell your product will ultimately help them make money too.
  • The purpose of trade marketing differs from that of traditional marketing, as it is not focused on the final sale. Instead, trade marketing focuses on the means by which that final sale is made. You need to get your products in front of consumers before they can make the decision to purchase them.

Trade Marketing Strategies:-

1. Trade Shows

Trade shows are a great way to interact with potential partners, increase brand awareness, and demonstrate your brand’s value compared to competitors. Many wholesalers, distributors, and retailers attend trade shows with the intent of finding new brands to partner with that will bring them sales revenue.

Use this platform to its full potential and make as many impressions as possible. Trade shows are also a great opportunity for creating brand recognition and awareness. Things to consider during your next upcoming trade show include how your booth and displays will look, what types of interactions you’re looking to make, and what information you want to convey.

⇒How Data Can Help

  • You’re bound to talk with many different partners and people at each trade show. You’ll likely provide demos and samples of your product. Activities data can help to organize and record all of the things you do and interactions you have during the course of the show.
  • Recording data about these activities on the spot means you can analyze it after the fact. Keep track of who you interacted with, and what was accomplished. You might start to notice trends within your activities, and be able to determine which ones are most successful in achieving your goals.

2. Trade Promotions

Promotions are another great way to separate yourself from the competition. Sometimes, supply chain partners or consumers won’t realize the full value of your brand without a little help. Use promotions to give them that extra push towards choosing your product. Examples of promotions include temporarily reduced prices or in-store displays that grab attention, build brand awareness, and ultimately incentivize people to choose your product over others.

⇒How Data Can Help

  • Sales data can help you see how much your promotions actually help your sales. By showing you the change in sales at each location before, during, and after each promotion you offer, you get a new level of data-driven insight into which promotions are actually worth it. Using this store-level information, you can tweak and fine tune the style of your promotions to drive the most people to your brand.

3. Relationships

An often overlooked aspect of marketing to supply chain partners is building mutually beneficial relationships with them. As great as your product may be, retailers or distributors will be reluctant to partner with you if they don’t believe that carrying your products will provide them with more revenue than others.

In order for your relationship with your partners to be the most beneficial, make sure that there is frequent communication and accountability on both sides. Building a strong personal relationship will go a long way in securing valuable shelf space.

⇒How Data Can Help

  • Have data-driven conversations with partners in order to build trust and accountability in your relationships. Use sales data to quantitatively demonstrate the value that your brand could bring to the table. For example, show hard numbers detailing the successes that your brand has had with other retailers. Retailers will be more likely to stock your product if they can quantitatively see the extra revenue they could be gaining.
  • In addition, your brand will be more accountable, as you will have a more accurate forecast of how much retailers can expect to sell. In the end, this makes it easier for you to deliver on your promises, and build a stronger relationship with each of your partners.
  • While these trade promotion strategies are proven to be successful, that doesn’t mean there isn’t room to improve. Being more data-driven will allow your brand to take them to the next level, and get the most from each one.