It’s time for rule number four out of six in launching a successful Private Label. Your more than halfway to learning how to launch a successful Private Label, so now it’s time to think about a marketing strategy. This is your brand, so make it your own!
“One of the reasons that private label is so profitable is that you don’t have to pay for the huge marketing and education costs that traditional brands stick you and your clients with.”
With that said, it’s important to realize that you will have to ensure that some of your time and focus is spent by you in getting the word out to your clients. Remember, this brand is an extension of you, so treat it with the importance it deserves. Dress it up! It’s recommended to reinvest some of your product margin into aggressive promotions to your clients. Additionally, signage, collateral materials and merchandising pieces that you used to rely on a traditional brand to produce for you, will now fall on you to create. Well-crafted signage and merchandising can really bring your products to life in the eyes of your clients. Simply putting your product on the shelf without focusing on these areas isn’t a winning recipe. Some Private Label suppliers offer support in these areas, while many do not. Ask you prospective suppliers what type of support they offer in marketing and branding and graphic design support.”
This concludes rule #4 in our recipe for success in launching your private label. Our 6 rules will be revealed one at a time, so stay tuned to read them all!