Are you considering selling or promoting your products at the markets, or any other public place? This is a great way to make some sales as well as get feedback from your customers on your product, prices and other important aspects of the business. This information is priceless if you intend to upscale in the future. In order to get involved at the markets, here are a few handy things to keep in mind.
Markets have got their own flavours – when you’re planning on selling something, do your research on the market options that are available. Markets are open on different days and have different specialisations, ranging from food & drink, fashion, outdoors, to broader ranges, and also different price points. Think about the market that would best be suited to selling your product. A great way is to just explore the markets. On the Sunshine Coast, some great options include:
Markets are usually run according to a policy which will describe the do’s and don’ts, how much space you will be allocated, the cost of a stall, etc. Close attention to this information is a good idea. Undoubtedly markets are something that people ‘get good at’ but for the first time heed this information because it is the rules of the road for the stallholders. Insurance may be required in order for you to attend. This will be indicated in the market policy. Shop around, starting with your normal insurance provider, to compare cost, length of contract and other details.
There are numerous small expenses involved with attending the markets. It’s important to add them all up so you can understand the cost of your involvement and what the cost of your products needs to be to make a profit. Make a list of your expenses. Here is an example:
- Market stall cost
- Any Rental
- Product Manufacture
- Sales / Promotional
The discrete addition of time is very important. Always keep track of how much time you have put into such endeavours – it is more valuable than dollars.
The benefit of understanding your expenses going into the markets is that you can understand how much money you need to make from your products to make a profit. Obviously, this pricing needs to also meet your buyer’s expectations so that it is a position that you can sell from.
We can design and print the information that you need to market your products. This might include brochures, business cards, pamphlets, fliers, posters, and other material. Because we take an interest in our clients, we can also help you understand the different options involved and the price implications, so you can make an educated choice about your approach to communication material.
If you’re selling a product, you need to consider packaging. Packaging can be low-fi (a plastic bag) or hi-fi (a custom-made box, for example). If packaging is used, it should reflect the quality of the item and also the item’s destination (gift, or for the buyer). Packaging is an important part of your brand. Think Tiffany’s – their boxes are as famous as their diamonds. We can help you innovate a packaging solution that will work for your product.
Having a brand presence that goes beyond the markets is important for further communication, connection and sales opportunities. We can help you set up a website, domain-email, (email@example.com), integrated social media, and ensure a consistent look and feel is achieve across the board.
When you go to the markets, it’s always interesting to observe the different approaches used by different stall-staff. Ultimately the approach that you need to use is going to be a combination of your personality and the types of products that you are selling. We can help you develop your interaction with customers. Here are some common approaches and notes:
Sometimes stall-holders completely remove themselves from their products, only to re-appear if a transaction is required. This approach is never ideal – you don’t know what’s happening in your stall and you are not available to provide any assistance.
Present but absent
Sometimes stall-holders are present physically but absent in every other way. They don’t greet customers, their attention is elsewhere, they are just handling transactions. This can make customers feel unwelcome or unwanted – not an ideal situation.
Guitarist who plays; jeweller who is making; cooks who are cooking. Demonstrating the process of production behind your products starts a story and gives depth to the items being sold. This isn’t always appropriate, but can have a useful effect.
Ideally, as a person involved in the presentation and sales of your products, you will be present, conscious, positive and responsive to your customer’s requirements.