Inevitably things don’t always go to plan, and no one can predict everything and the UK Wholesale Market is no different, in fact giving its scale and variety, you should expect bumps in the road. It is then about how you react and adapt, but clearly your road map will allow you to flex but stay with the overall plan direction.
However there a number of key pitfalls or own goals that if avoided will give you much greater chance of success and achieving your objectives
- Preparation - Don’t rush this, take a wide church of views and triangulate your findings, look at the points in my Success factors post and then build a list of what will need to be true in order to be successful. No corner cutting, but once you have your plan execute it with speed and efficiency
- Resources – Don’t cut corners – the right people with the right skill set and experience, the appropriate funding to support your revenue plan- listing, promotion and activation
- Product ranges and packs - fast adapts from grocery rarely work, they may be relevant for some segments, but if Impulse or Catering is your target market then get the right packs, think outer, inner and transit packaging
- Commercials – don’t lose your discipline at the sight of big volumes or one off’s, know your brand positioning and pricing corridors and stick to them. That’s what all the preparation is for!
- Activation – don’t stop once the pallets hit the wholesaler! The job is just starting – the right place in depot, the right page in the plof, the right online position and words, telesales and field sales training, sampling?
- Trade Communications - don’t just use formal platforms, word of mouth, social media, your network, can be just powerful. Ensure your timing is in line with the launch and activation
- Tracking and Timing - don’t be over ambitious in your plan, be it timing or scale. Better to build a sustainable business over 6 months than a flawed business in three. There are many more parts of the value chain than grocery, it takes more time to get to the point of consumption.
As I said there will ups and downs in any market entry plan, but being aware of these 7 pitfalls will surely maximise your success
If you need specific help, please reach out to us.