Pitching to buyers - what to expect?
Discussion
I should preface my questions by stating there is no immediate prospect of actually being invited to pitch/discuss a product to any buyer at all, currently - but it is what I'm aiming for.
I would describe the product as FMCG, low cost, UK made. My expectations are that lead times, quantities, quality assurances will need to be established before getting down to cost.
So in preparation for the unlikely, can anyone give any pointers on what is usually expected when a meeting does take place?
I would describe the product as FMCG, low cost, UK made. My expectations are that lead times, quantities, quality assurances will need to be established before getting down to cost.
So in preparation for the unlikely, can anyone give any pointers on what is usually expected when a meeting does take place?
First question is how to get in front of the buyers in the first place. As you're talking fmcg I guess you're planning on rocking up in front of the likes of B&M's buyers? Or Joe public from markets or a store?
Also is there a market for your goods at the price point you need? Can you prove it? 1st thing I'd be asking
Also is there a market for your goods at the price point you need? Can you prove it? 1st thing I'd be asking
Edited by dfen5 on Thursday 10th August 19:29
dfen5 said:
First question is how to get in front of the buyers in the first place. As you're talking fmcg I guess you're planning on rocking up in front of the likes of B&M's buyers? Or Joe public from markets or a store?
Also is there a market for your goods at the price point you need? Can you prove it? 1st thing I'd be asking
I can satisfy the questions you put forward with evidence and I wouldn't turn down an offer from B&M - it is the high street chains I'm interested in.Also is there a market for your goods at the price point you need? Can you prove it? 1st thing I'd be asking
Edited by dfen5 on Thursday 10th August 19:28
Well, I'll give you an example of one question that caught me out when I was pitching to Fisons a long time ago:
'But you're only one bloke working from home and what about the creativity?'
I couldn't think of an answer and my earnings from that encounter were £0. I later realised he'd probably been primed by a rival (my former boss).
Essentially you can't plan it as a Q&A session. Start with a script by all means - I had a good one - but go in on your toes, consider what personality you're up against, and if you have to, wing it. Think fast but don't scare them. Remember that you are just as good as they are, if not better because you don't just sit behind a desk and collect the cash.
'But you're only one bloke working from home and what about the creativity?'
I couldn't think of an answer and my earnings from that encounter were £0. I later realised he'd probably been primed by a rival (my former boss).
Essentially you can't plan it as a Q&A session. Start with a script by all means - I had a good one - but go in on your toes, consider what personality you're up against, and if you have to, wing it. Think fast but don't scare them. Remember that you are just as good as they are, if not better because you don't just sit behind a desk and collect the cash.
Simpo Two said:
Remember that you are just as good as they are, if not better because you don't just sit behind a desk and collect the cash.
That's definitely worth bearing in mind when things start getting sweaty - as for being a one man band, with a bit of thought I could try to use that as an advantage - no account handlers, senior management therefore an immediate ability to 'pivot' (I think the cool phrase is today), etc.Thanks!
I don't generally find questions from big retailers any more challenging or well thought out than smaller/medium sized companies where the buyers range from owner directors to category specific purchasers.
What I do find incredibly frustrating is even when your price/leadtime/quality/relevant experience/accreditations all stack up to make an attractive proposition people are still slow to move supplier, if they get round to it at all. This is the mentality of someone employed, they're "too busy" to move suppliers even though there is barely any work involved in it at all.
I went to a sales meeting last week which the guy had put off for weeks. He told me a specific person I'd been in discussion with wouldn't be there because she was "so busy". The meeting room was open plan incorporating the kitchen and throughout the whole meeting she stood there, made cups of tea, chatted with colleagues, texted on her phone and, occasionally, even interjected in to the meeting she was "too busy" to attend!
Mostly I think it's basics, be presentable, have notes, plan what you want from the meeting, note down applicable USPs to that particular customer etc. I always try to target customers that I genuinely believe will benefit from something I have to offer whether that be local service, quicker turnaround than their incumbent supplier, better account management than they currently receive and so on. Also, never underestimate how long a process it can be, people need constant reassurance and encouragement that they are making the right choice and if they finally order from you make sure nothing goes wrong with that first order or they'll scurry straight back to their current supplier and you've lost them.
It's occasionally rewarding but mostly infuriating.
What I do find incredibly frustrating is even when your price/leadtime/quality/relevant experience/accreditations all stack up to make an attractive proposition people are still slow to move supplier, if they get round to it at all. This is the mentality of someone employed, they're "too busy" to move suppliers even though there is barely any work involved in it at all.
I went to a sales meeting last week which the guy had put off for weeks. He told me a specific person I'd been in discussion with wouldn't be there because she was "so busy". The meeting room was open plan incorporating the kitchen and throughout the whole meeting she stood there, made cups of tea, chatted with colleagues, texted on her phone and, occasionally, even interjected in to the meeting she was "too busy" to attend!
Mostly I think it's basics, be presentable, have notes, plan what you want from the meeting, note down applicable USPs to that particular customer etc. I always try to target customers that I genuinely believe will benefit from something I have to offer whether that be local service, quicker turnaround than their incumbent supplier, better account management than they currently receive and so on. Also, never underestimate how long a process it can be, people need constant reassurance and encouragement that they are making the right choice and if they finally order from you make sure nothing goes wrong with that first order or they'll scurry straight back to their current supplier and you've lost them.
It's occasionally rewarding but mostly infuriating.
ReaderScars said:
That's definitely worth bearing in mind when things start getting sweaty - as for being a one man band, with a bit of thought I could try to use that as an advantage - no account handlers, senior management therefore an immediate ability to 'pivot' (I think the cool phrase is today), etc.
Thanks!
Exactly - with a bit of experience and a cool head you can often turn a negative into a positive. Ot at least turn it round and ask a question to get some thinking time. I suspect many buyers work on a mental tickbox system - as long as you said something that appears to make sense you'll pass the test. One of the best bits of advice I got (from a man who became a very good client) was 'once you've sold something, stop selling it'. How true!Thanks!
Last week I was in a shopping centre when a bright-eyed young chap came up to me with a leaflet and asked me how I was. 'I'm OK; what are you selling?' I asked. Undeterred he carried on bouncing. 'How are you today?' he sparkled. I wasn't in the mood for a chat. I looked at my watch. 'You've got 30 seconds' I said. 'I don't know ho to count up to 30, haha!' he bounced. OK, quick but stupid. '25 seconds' I said'. 'Are you having a nice day?' he bounced. I walked away.
In the early days of my thing, I was struggling for work & I got, against the odds, a meeting with a household name baby food manufacturer. I went along to meet the guy & it helped that he was a decent bloke with an open mind but he saw right through me.
He brought up that I was a one man band, actually showed me his note pad on which he'd written the term in two inch letters with lots of exclamation marks. I thought it was s
t or bust, so I told him he's get straight through to me when he called (obviously) & since it was my name over the door, he had a guarantee that all the stops would be pulled out for them.
That was in 2004 & we still work for them, so my experience is if you can go in with your wits about you & an honest outlook, you'll be ok. There's plenty of horrible buggers out there, but people are often more open & helpful than you might think and sales is just sales with all the usual clichés, persistence, people buy people, ask for the work etc.
He brought up that I was a one man band, actually showed me his note pad on which he'd written the term in two inch letters with lots of exclamation marks. I thought it was s
t or bust, so I told him he's get straight through to me when he called (obviously) & since it was my name over the door, he had a guarantee that all the stops would be pulled out for them.That was in 2004 & we still work for them, so my experience is if you can go in with your wits about you & an honest outlook, you'll be ok. There's plenty of horrible buggers out there, but people are often more open & helpful than you might think and sales is just sales with all the usual clichés, persistence, people buy people, ask for the work etc.
Edited by Eddie Strohacker on Thursday 10th August 22:15
al1991 said:
I don't generally find questions from big retailers any more challenging or well thought out than smaller/medium sized companies where the buyers range from owner directors to category specific purchasers.
What I do find incredibly frustrating is even when your price/leadtime/quality/relevant experience/accreditations all stack up to make an attractive proposition people are still slow to move supplier, if they get round to it at all. This is the mentality of someone employed, they're "too busy" to move suppliers even though there is barely any work involved in it at all.
I went to a sales meeting last week which the guy had put off for weeks. He told me a specific person I'd been in discussion with wouldn't be there because she was "so busy". The meeting room was open plan incorporating the kitchen and throughout the whole meeting she stood there, made cups of tea, chatted with colleagues, texted on her phone and, occasionally, even interjected in to the meeting she was "too busy" to attend!
Mostly I think it's basics, be presentable, have notes, plan what you want from the meeting, note down applicable USPs to that particular customer etc. I always try to target customers that I genuinely believe will benefit from something I have to offer whether that be local service, quicker turnaround than their incumbent supplier, better account management than they currently receive and so on. Also, never underestimate how long a process it can be, people need constant reassurance and encouragement that they are making the right choice and if they finally order from you make sure nothing goes wrong with that first order or they'll scurry straight back to their current supplier and you've lost them.
It's occasionally rewarding but mostly infuriating.
Thanks for sharing your experiences, your insight and especially the advice, although I do feel like I'm a bit of a fraud seeing as I have no requirement to put any of this into place, but very much appreciated.What I do find incredibly frustrating is even when your price/leadtime/quality/relevant experience/accreditations all stack up to make an attractive proposition people are still slow to move supplier, if they get round to it at all. This is the mentality of someone employed, they're "too busy" to move suppliers even though there is barely any work involved in it at all.
I went to a sales meeting last week which the guy had put off for weeks. He told me a specific person I'd been in discussion with wouldn't be there because she was "so busy". The meeting room was open plan incorporating the kitchen and throughout the whole meeting she stood there, made cups of tea, chatted with colleagues, texted on her phone and, occasionally, even interjected in to the meeting she was "too busy" to attend!
Mostly I think it's basics, be presentable, have notes, plan what you want from the meeting, note down applicable USPs to that particular customer etc. I always try to target customers that I genuinely believe will benefit from something I have to offer whether that be local service, quicker turnaround than their incumbent supplier, better account management than they currently receive and so on. Also, never underestimate how long a process it can be, people need constant reassurance and encouragement that they are making the right choice and if they finally order from you make sure nothing goes wrong with that first order or they'll scurry straight back to their current supplier and you've lost them.
It's occasionally rewarding but mostly infuriating.
It seems that this sort of experience from the front lines of buyers/seller/suppliers isn't discussed as widely as some other business related issues so it's a useful read even if your experiences have ended up frustrating. Thanks, I appreciate it.
Thanks Eddie, Simpo - I'll be incorporating your various responses into a cheat sheet and get them memorised just in case. However, the more preparation I do for a project the less likely it seems to become but I'm determined to be prepared with responses to the common issues as well as the usual stats and figures. Much appreciated, thanks!
Another sales cliché is objections are actually expressions of interest. I find that one to be very true. If you can anticipate & overcome the common ones, you're on the home stretch. You can't win them all, but you can slant the odds in your favour by not being a tongue tied doofus. Good luck.
Just remember an FMCG buyer is only interested in the incremental profit you may be able to create for his product group.
If he weren't interested you wouldn't be sitting there, so getting through the door will be an initial massive challenge.
Once you have make sure everything you do/say shows the buyer what incremental profit you can deliver.
The number of presentations I've sat through from prospective suppliers that started with long boring bits on the company/individual their history, the market, their share blah blah blah zzzzzzzzzzzzzzzzzzzzz and then left the real nugget of the presentation to the last few slides where it was a blink and you'll miss it!
Don't get me wrong, you will need to cover off all of the company/individual stuff at some point but at a first meeting give the buyer a reason to meet you again!
If he weren't interested you wouldn't be sitting there, so getting through the door will be an initial massive challenge.
Once you have make sure everything you do/say shows the buyer what incremental profit you can deliver.
The number of presentations I've sat through from prospective suppliers that started with long boring bits on the company/individual their history, the market, their share blah blah blah zzzzzzzzzzzzzzzzzzzzz and then left the real nugget of the presentation to the last few slides where it was a blink and you'll miss it!
Don't get me wrong, you will need to cover off all of the company/individual stuff at some point but at a first meeting give the buyer a reason to meet you again!
ReaderScars said:
I do feel like I'm a bit of a fraud seeing as I have no requirement to put any of this into place
Having an advantage is not fraud, it's a competitve edge! 
But here's an example of when an advantage doesn't work and has to be inverted:
Because I had no overheads I could supply an identical product for about 35% less. The prospect could save 35% because he wasn't paying for secretaries and director's pension funds. A no-brainer surely; sign here!
Except that some prospects don't want to save money! Sometimes if they have a budget of £X they want to spend it all, not save. Or they might want to spend lots of money to big up their CV or get a PR splash in the trade press. Eventually I learned to spin it round and tell them that if they chose me, they'd get MORE STUFF for their budget. Bingo. Same benefit but adapted to the prospect.
Looking back it seems so easy; it wasn't at the time...
The hardest objections to overcome are the ones the buyer isn't showing you. The skill is in fishing them out and dealing with them without introducing ones they hadn't thought of.
If you're pitching a new product/concept to a new client, keep the conversation high level and concise, then work from there. Have evidence to back up your assertions, have numbers and facts to hand and don't blag. It is often a good idea to have something you will 'need to check and get back to you with', which gives a platform to continue the conversation later.
Don't argue with them, empathise and offer alternate points of view.
I've sold into high levels in all sorts of businesses at senior levels, be it Boots, the NHS, Specsavers, St. James's Place etc, down to SMEs, individual business owners and one man bands. The buying processes might be different, but the base information between them all the general concept pitch are the same. A good SME buyer might be more effective/harder to sell to than a procurement team in an NHS Trust (which might not be so surprising...). The differences might be in how you pitch the bigger picture and the level of research you might do into each opportunity.
Remember, people like talking about themselves, so ask open questions, listen to the answers and integrate what they've told you into later parts of the pitch. It builds credibility.
If you're pitching a new product/concept to a new client, keep the conversation high level and concise, then work from there. Have evidence to back up your assertions, have numbers and facts to hand and don't blag. It is often a good idea to have something you will 'need to check and get back to you with', which gives a platform to continue the conversation later.
Don't argue with them, empathise and offer alternate points of view.
I've sold into high levels in all sorts of businesses at senior levels, be it Boots, the NHS, Specsavers, St. James's Place etc, down to SMEs, individual business owners and one man bands. The buying processes might be different, but the base information between them all the general concept pitch are the same. A good SME buyer might be more effective/harder to sell to than a procurement team in an NHS Trust (which might not be so surprising...). The differences might be in how you pitch the bigger picture and the level of research you might do into each opportunity.
Remember, people like talking about themselves, so ask open questions, listen to the answers and integrate what they've told you into later parts of the pitch. It builds credibility.
I'm very impressed with the experiences shared and thoughts given - rather than thank you individually I'd like to doff a collective cap and say how useful your responses have been; these gems will be incorporated into my spiel and counter tictacs. Really grateful for the time you've all taken.
ReaderScars said:
I'm very impressed with the experiences shared and thoughts given - rather than thank you individually I'd like to doff a collective cap and say how useful your responses have been; these gems will be incorporated into my spiel and counter tictacs. Really grateful for the time you've all taken.
My commission is normally 10% but for a PHer would accept 7% cash 
Ayahuasca said:
All sales is a numbers game. See more people, have more meetings, and you will do more business. Don't think about being the best salesperson. Think about being the hardest-working one and you will do very well.
Perhaps, but it's not quite that simple. If you have the wrong product, the wrong target or the wrong spiel, all your efforts will be wasted, you'll be bashing against locked doors. Hard work alone is not enough, it has to be the right kind of work.Maybe a weakness in my old sales Schtick but I would decide if they needed my range or not, if they did I was passionate and very persuasive if I didn't think they did I virtually didn't go (they won't sell any, they'll return unsold stock and whinge at me) so ask yourself do Boots need another tanning towel? Or whatever etc. If yes in your own mind you'll find your a better salesperson - trust me it works.
DSLiverpool said:
Maybe a weakness in my old sales Schtick but I would decide if they needed my range or not, if they did I was passionate and very persuasive if I didn't think they did I virtually didn't go (they won't sell any, they'll return unsold stock and whinge at me) so ask yourself do Boots need another tanning towel? Or whatever etc. If yes in your own mind you'll find your a better salesperson - trust me it works.
I think that's a laudable quality. I've certainly taken on customers against my better judgement who weren't a good fit for one reason or another & lived to regret it, in fact I've one on the books now to whom I think we're saying a long goodbye.DSLiverpool said:
Maybe a weakness in my old sales Schtick but I would decide if they needed my range or not, if they did I was passionate and very persuasive if I didn't think they did I virtually didn't go (they won't sell any, they'll return unsold stock and whinge at me) so ask yourself do Boots need another tanning towel? Or whatever etc. If yes in your own mind you'll find your a better salesperson - trust me it works.
Interesting, I've already made that mistake; the product I'm selling only exists because of a shortcoming in another (common) product - it could be said that retailers of this common product would, by selling mine alongside, be admitting that there's a slight issue with their stock and this could put customers off.It's clear that users of my product know there's a widespread issue and find it slightly annoying, yet it doesn't bother some. So my thoughts are the individual, end user should be offered the choice through a supermarket, for instance and not via these common product sellers - but I could be wrong, perhaps I'm over analysing.
Incidentally, I've sold to France, Germany, Finland, Estonia, Israel and the US as well as throughout the UK - there's definitely a market as these are being bought daily; I think I just need the opportunity to show the stats to the right buyer. Let's see what happens over the next few days.
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