6 tips for success at NACDS Total Store Expo
The National Association of Chain Drug Stores’ Annual Total Store Expo is a marathon, not a sprint. In an effort to help you make the most of your time at the show, Drug Store News talked to some industry veterans to get their best advice to prepare for success at NACDS TSE this year.
Here are six steps for success at TSE :
1. Plan ahead.
Be prepared to network effectively.
“As a retailer, decide who you want to see and why; as a manufacturer, understand current trends/directions among retailers,” Dave Wendland, VP of Hamacher Resource Group, said.
“Visit each retailer’s stores to understand and confirm how your program/product fills an opportunity gap,” said Rich Swanson, principal of The Swanson Group. “Perform your due diligence prior to attending TSE and know each retailer, [their] competition, product/program positioning, your key benefits, etc.”
The very best-prepared companies at TSE, “have done their homework” in advance, noted Dan Mack, founder and managing partner of the Mack Elevation Forum, “ensuring that everything they are sharing aligns with their customer’s higher-level agenda and the goals of the category they operate in.
“Set your expectations/objectives,” offered Emerson Group head of marketing Matt Poli. “Create a list of three, five, [or] 10 things you want to accomplish at TSE and stay focused.”
2. Visit the NACDS website.
NACDS offers an educational library for useful research studies and industry publications, in addition to webinars.
“Review the NACDS website to view the recommended template/format to prepare for Meet the Market sessions with retailers,” Swanson said, and “have a one-page company/product summary sheet with your booth number available that you can hand out after each meeting.”
3. Plant seeds.
When you’re at TSE, introduce your brand and make connections.
“No category manager or head of merchandising ever wrote a $1 million P.O. at NACDS TSE — so plant the seed,” Poli said. “Tell your brand’s story and then ask for the follow-up meeting to set the plan.”
“Once you’re at the event, it is vital to walk the floor evaluating every booth — looking for alliance partners, inspiration and opportunities to build your company through friends in the industry,” Mack added. “If you work this show with passion, and commitment it is one of the best investments of the year.”
4. Prepare your presentation.
Make sure your presentation is clear and highlights why your product is important.
“The best companies have created a very streamlined mini presentation, sharing their very best new ideas in simple language that conveys why it is different, how they will support it and why the consumer can’t live without it,” Mack said.
But also make sure to listen actively during your pitch, Wendland noted, “You’ll hear new plans emerging, industry developments and trends, and potential opportunities during every conversation.
5. Commit.
It is vital to look for alliance partners, inspiration and opportunities to build your company through friends in the industry, according to Mack.
“If you work this show with passion and commitment, it is one of the best investments of the year,” he added.
6. Follow up.
Don’t let your networking go to waste.
“Send follow-up letters to all of the retailers you met with, highlighting key points and requesting a meeting back at their HQ,” Swanson said. “Send follow-up letters to all retailers you were not able to meet with, and attach a one-page, hard-hitting, fact-based, informative recap and ask for a meeting.”