The Hardware Man: Vendor Relationships
Howdy Folks,
I would love to tell you how our Customer Appreciation Day went this last week, but considering this article is written a week ahead of time and submitted on Friday, let’s presume it was a smashing success.
I can accurately presume this for a couple of reasons. First, the buzz leading up to the event on Friday made me wonder if we had prepared enough. And if we didn’t, we’ll know better for next year. Most importantly, the vendors and brands were excited to participate in various ways. This makes the day successful before it even happens.
The vendor relationship, for any business, is critical for mutual success. Your business – your store, restaurant or manufacturing plant – can only be as great as your vendor’s support. If failure happens in the supply chain, it will affect the product, whether it is pricing, quality or availability. Our store has partnered with several key companies that has given us the ability to compete in the marketplace, both in pricing and selection. This allows us the flexibility to grow our inventory for our space, terms and credit to stretch and manage what we carry and critical service when something goes wrong. On that point, as a salesman it is easy to sell, but you earn your money when you have to stand behind what you’ve sold. This is when relationships really matter.
Within our primary wholesaler, House Hasson Hardware out of Knoxville, TN, we have a catalog available from many quality brands. Our visits to markets have allowed us to create relationships with some of the preferred lines we promote in the store. Often, we select a product based on its heritage, its reputation or quality. Sales representatives will promote their product at a discount or less to buy space on our shelves. Occasionally we buy because of price, but once we establish a spot on the shelf, we reorder as demand dictates.
For this past weekend, we asked some of our vendors to support our event. The DeWalt representative, one of our new lines in the store, came and set up to help promote his product. Milwaukee Tools donated a power tool set to our door prizes and SpecOps tools and Interstate Batteries sent goodie packages also. Frostop Root Beer offered free products for samples. I felt, as we asked our contacts, each offer got better and excitement grew. I called our coal vendor, Lehigh Anthracite, to see if they could donate a couple bags of coal for the cause. That wasn’t enough – they upped it to 400 pounds without hesitation. Serves me right for not asking big enough. Our Case Equipment sales rep brought some goodies to hand out, and our House Hasson regional manager stopped by.
Really, the cost of a marketing event like this customer appreciation day ends up being supported by the brands we have relationships with. We take the initiative to create the event, advertise and prepare, then let our vendors show up and market their product to our customers. It is a simple thing to do.
If your business needs a shot of energy, a boost in business or just an excuse to have a party, I will highly encourage you to host an event like this. Make it your own, ask your contacts and generate goodwill both with the public and your vendors. Consumers buy from businesses and brands they trust, and welcoming them to visit, browse and experience will pay long term dividends.
Daniel Karns and his wife own Clintonville Hardware & Rental along with other businesses. Join the discussion by contacting him at info@clintonvillehardware.com.
