Are you exclusive?

When you are running your own business, the most important thing is sales, right? Well… yes and no.  Without sales, there is no business. However it is about getting the right kind of sales from the right type of customer. Too often, many designers try to be all things to all people. While it is great to try and cater to everyone, there is no way to please every single person out there.  It’s okay to say “No” to the wrong kind of sales. If not, it can backfire on you in three ways:
 
1)   Your product will become over-saturated.
2)   Your message and vision will get diluted. You will not be the “go-to” person for your product category.
3)   You might not be able to meet the demand, especially if you don’t have a system in place.
 
One way you can build your business is to work on exclusivity with the right stores!
 
Retailers LOVE to hear the word “exclusive!” Whether you are exclusively selling “X” product to a retailer nationwide or in a certain region, it will reap much bigger rewards. You will get more re-orders from that one store than you would get from many first orders from bunch of wrong stores. When you spread yourself too thin, there is no sense of loyalty. When you partner with a retailer who believe in your product (and vice versa), you can accomplish BIG things together. Don’t just go for quantity. Go for quality!
 
Another way to offer exclusivity is to create an exclusive product. At Pink Olive we are always looking for exclusive products to work on with our favorite designers. Our latest one was with Anna Bond of Rifle Paper & Co. where we offered an exclusive NYC print for our “Meet n Greet” event in October. This print has been flying off the shelves. Not only have we increased our sales by the double digits, but we also garnered a ton of press and found a whole slew of new customers!

 

What can you offer to your current or potential retail partners in 2012?

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