Industry events should be on your calendar
See and be seen
We are continuing with our series on building relationships with your customers. This week we will focus on industry events and how they can foster the relationship you want with your customers.
When we talk about industry events, these are not trade shows. That is a different opportunity we will focus on in upcoming issues. Industry events are gatherings such as the Grand Prix product awards, the night to celebrate star women in grocery. A time when the industry will come together to celebrate or focus on issues or opportunities.
During the pandemic all of these events and initiatives were cancelled or shifted to virtual. Although it was the best option at the time, there is no substitute for being in person. Industry events are a great opportunity to see your customers and be seen by your customers. There is an argument if you are not there, they might wonder why? It does cost money and time but if you are going to be a leader or even a credible player in your category you need to participate in some of these events.
Expenses to attend these events did go down during the pandemic. You (and your accountants) need to remember everyone was in the same position. You could reduce expenses but now that they are all happening you need to figure out where you do need to make an investment to attend. Your competition will probably be there.
Be aware of your surroundings
Building relationships with customers can be a challenge. In the end you want to sell them your products, but you need to make it about more than just selling.
We appreciate you are proud of your product. You can’t just focus on that all the time. At industry events you should be focused on the relationship and not the ‘sales pitch’. There is nothing worse than a supplier who tries to talk about a price increase at an industry event. Save it for the right time and place.
Think about the purpose of the event and keep your conversations on that. If your customer goes further or asks you about something, great dive in. Just let them start the more business focused conversation.
They are there representing their company but it is usually more of a social setting. A chance for you to talk about more than just food and beverage. This is your chance to talk about family and outside interests to learn more about the person.
Considerations in advance
You do want to find out who will be attending these events in advance. Often, there can be hundreds of people there so you want to make sure you have a list of people you want to talk to. Some might think this is a bit much. Reality is you are attending to foster relationships, so you need to find them and talk to them.
Ask your customers when you are talking to them if they will be attending specific events. When you know ahead of time, it is much better as opposed to searching through the crowds to find them. Perhaps you can arrange to meet for a drink at the event or even better; in advance.
You can dedicate some time and your expertise
Many industry events have a volunteer board to guide the execution of the event. These boards are great opportunities to give back and spend time with industry leaders. One other benefit of being on these volunteer boards is the exposure you get. They will introduce the board and sometimes put your picture up on the big screen.
Check out the board in advance of offering to participate. Many retailers have representation on these boards. Chances are it will not be your category manager but any time you have a chance to spend some time with these people it should help your relationship.
Promoting the cause and the event are the right reasons to participate in the board or other volunteer positions. There are other benefits too.
You probably can’t attend them all
It takes money and time to attend all of these events. When I was at Loblaw, I remember some suppliers who seemed to be at every event. It amazed me how they would always be there. Depending on the size of your business and the resources you have you might have to be strategic about which events you attend.
Industry events are also an opportunity to reward some of the people in your business. The first couple of times you probably need to take them and introduce them to some people. It can be exciting for them to attend the event, and a chance for you to say ‘thanks’ for some good work they have done. This ensures your business gets recognition for attending and supporting the initiative. Before they attend the event, make sure they know you want to have a conversation after the event to see who they talked to and what was going on.
Give them some guidance because networking and attending industry events is probably not something they learned in school. Retailers do like to meet some of the different people in your business. If you are sending your food safety person, ask your customers in advance if there are any food safety people there from their business. They talk a different language but it all helps develop relationships.
These are relationship opportunities, not sales meetings
You always want to be working on these relationships. Industry events are great opportunities. You can learn a lot about your customers and find many things to keep talking about in upcoming meetings. Find the right events to attend and avoid too much sales talk.
Peter
SKUFood Recipes for Success Podcast
In today's episode, we have the Kilted Chef, Alain Bosse grace our virtual kitchen. With his signature attire and boundless culinary creativity, the Kilted Chef has become a beloved figure in the culinary world. He has charmed audiences far and wide as an Ambassador of Atlantic Canadian Food and his unique culinary flair.
Get ready for a delightful conversation filled with anecdotes, insights, and perhaps a dash of tartan charm as the Kilted Chef shares his passion for food, culture, and the joy of bringing people together through the universal language of cooking. Whether you're a seasoned chef or an enthusiastic home cook, this episode promises to leave you hungry for more.
Loblaw and Walmart warn of tariff impacts on retail prices
We received a few media calls this week to share some insights about the comments from Loblaw about tariffs impacting prices. After the government pointed the finger at retailers during the period of inflation Loblaw are taking a more proactive approach. They have identified the items in their stores with tariffs impacting retail prices. The signage is clear on shelf and online.
They are saying 1,000 products have been impacted already and there will be 3,000-6,000 more items in the upcoming weeks.
No doubt this is Loblaw trying to deflect the focus of higher retail prices onto government policies.
Pricing your food and Beverage products for success
You have a great product and are excited to share it with customers, but how do you know what to sell it for?
Products need to be priced right to deliver a return and maximize the sales opportunity, while providing customers with a fair value.
Where is Peter speaking?
I do have travel coming up to Toronto, Saskatoon and Calgary so if you want to connect or have an event in any of these locations give me a call or send me an email.