For them, business marketing is less about the buyer. Maybe some companies don't have market data to use or haven't been around very long, so getting to know key decision makers is a bigger priority.
As you can see, both approaches are very different. And we believe that there are 7 really important trade marketing strategies. In no particular order, let's take a look at the main trade marketing strategies.
1. Trade fairs
Trade shows are ideal for networking and building good business relationships. In sri lanka consumer email list addition, if a manufacturer needs to make retailers, wholesalers and distributors aware of its products, they are also the perfect environment to improve brand awareness.
2. Commercial promotions
Manufacturers need strong relationships with retailers, wholesalers and distributors. Creative promotions and incentives can motivate customers and increase repeat purchase rates. The end result is that people love the special treatment.
3. Industry magazines and websites
Advertisements and articles will bring more attention to your brand. Advertisements may cost money, but you have to invest to make a profit. Meanwhile, PR will give your business authenticity, trust, and relevance. Supply chain partners don't want to make easy money. They want products that consumers will buy for the long term, and that kind of customer loyalty only comes with smart branding.
5. Strategic alliances
The goal of trade marketing is to create a win-win situation by achieving common goals.
In other words, manufacturers want to sell their products, as do wholesalers, distributors and retailers. So if everyone wants the same thing, that's a good place to start.
Relationships are crucial. Manufacturers should seek to collaborate with supply chain partners in every way possible. This could mean aligning shipping and inventory management systems to generate shared savings.
Or exchange market research so all parties can better understand consumer behavior. Or perhaps even partner on advertising campaigns and share marketing materials.
6. Ongoing market research
Knowledge is the key to building a profitable partnership with a supply chain partner. There is no way around it – information is power, so data is very important in business.