January 24, 2013
I’ll start with why you should care. Understanding how buyers’ are ‘goaled’ helps you frame how to pitch your product to buyers. These goals dictate how buyers make decisions…everything from which vendor to work with, which products to introduce into their assortment and when, plus at what cost and markup. The better you can connect the dots between your product and how your product helps the buyer meet their performance goals, the harder it is for a buyer to tell you “no”.
Not to mention, the success will be good for your pocketbook too.
Buyers are measured annually, bi-annually, quarterly, monthly – and weekly in some cases. They will get financial goals (sales and profit targets) and inventory efficiency goals. And often times these targets are aggressive and year-end bonuses ride on the results.
Have you ever asked your buyer which of their goals they need most help hitting?