Through CART, we talk with and get to know a lot of solution providers, companies seeking to sell some new innovative technology or capability to retailers. It is concerning how few solution providers take the time to do some basic research on their retail prospects, walking into a sales meeting very unprepared.
The first step in selling is to determine what size or type retailer you want to approach first. In the supermarket industry you can think in terms of independent retailers (smaller, privately owned, typically with fewer than 10 stores), regional retailers (est. 10-250 stores), and then larger regiona/national retailers (companies like Ahold, Kroger, Walmart, etc.).
Once you’ve decided on your target, generate some specific retailers you want to approach; maybe retailers in your area or a retailer you have some connection to. Next do a basic Google search to find out more about the retailer. How many stores do they have? What are their annual sales? How many employees? Where are their stores located? Who are their competitors? Search for any recent news articles about them. Identify who the key executives are, especially those you think will be decision makers or influencers relative to whatever solution you’re going to bring to them.
If you get a meeting, visit some of their stores before you meet. This should be a standard operating practice for anyone selling into retail, especially grocery retail. Walk the store, noticing any and all details that may involve whatever solution you’re seeking to sell them. Get a sense for the retailer as an operator and for their customers. When you go into your meeting, share that you were in the retailer’s store - any retailer of any size will appreciate you’ve taken time to learn about them and visit their store operations.
Finally, relate what your solution is to what problem you are solving for the retailer or what opportunity you’re able to help the retailer realize.
