Reap the research rewards…

My new series of blogs offering a peek behind the curtain of the mind of a Retail Buyer focuses on how to add value to your product presentation.

This is the second blog in the series and will focus on market data and research. So I can hear some eye rolls already but believe me, this is really important and it’s something that artisan producers just don’t do; so if you’re on board you’ll be moving to the top of the class!

Ok, so I do appreciate that most artisan businesses don’t have access to huge budgets and even if they do they don’t really want to be spending a large chunk of it on expensive taste tests, consumer panels and research. So how should you go about it? Well, in my opinion, artisan producers are in the perfect position to do it on the cheap. So you’re attending the Foodies Festival in Edinburgh this year with an anticipated footfall of around 25,000 people and you’re sampling your products. Let’s assume you manage to sample to just 10% of the total footfall and you ask everyone that tries a sample one question: ‘what do you think? Marks out of ten.’ You make a quick score and tot them up when you get a spare moment to get your average score. Now you’re in a position to go to a buyer and tell them that you sampled your product directly to your target market and the average score was 9.3 out of 10.

You can also say that you’ve advertised your brand to 25,000 early adopting foodies. If you wanted to go one step further you could even have a questionnaire on your stand that asks your samplers to rate the product versus their normal purchases. Here you can explore more in depth opportunities. When you’re constructing your questions put yourself in the buyer’s shoes for a moment and think about what data will allow an objective decision? Just imagine how powerful something like ‘70% of people surveyed said that they would be willing to trade up from their usual purchase because they loved the product’s quality, provenance and branding’ would be. Don’t underestimate how important this direct feedback is; anytime you’re getting someone to interact with your product or brand then you should be taking advantage.

A buyer would never expect an artisan supplier to act like a large blue-chip business. However if you’re adding value to your presentation by substantiating features and developing them into tangible benefits then you’re helping to facilitate a buying decision.

Northern Munkee.