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Power Tool Sales and Marketing Strategies for B2B Retailers Power tools are vital for both consumers and professionals. The demand for power tools is at or close to pre-pandemic levels despite a slowdown due to the COVID-19 epidemic that will hit in 2021. In terms of outlet dollar share, Home Depot leads all outlets in power tool sale s. Lowe's is close behind. But both companies are being pushed by China-made power tools. Tip 1: Make a Brand Commitment Many manufacturers of industrial products put more emphasis on sales than marketing. This is due to the fact that the long-term sales process requires a lot of back-and-forth communication and a thorough understanding of the product. This type of communication does not allow for emotional consumer marketing tactics. However, industrial tools manufacturing companies must rethink their marketing strategy. The digital world has surpassed traditional companies that rely on a small group of distributors and retail outlets for sales. A key to selling power tools is brand loyalty. If a client is committed to a specific brand, they are less sensitive to competitors' communications. Additionally they are more likely to buy the item of the customer repeatedly and recommend it to others. To be successful on the United States market, you must have a well-planned strategy. This means adjusting your tools to meet local needs and positioning your brand in a competitive way, and leveraging marketing channels and distribution channels. Collaboration with local authorities as well as associations and experts is also crucial. When you do this, you can be confident that your power tools be in compliance with the regulations of the country and standards. Tip 2: Be aware of Your Products Retailers should be familiar with the products they offer especially in a marketplace which places a great importance on the quality of products. This will help them make informed decisions about what they are selling. This knowledge could also be the difference between a successful deal and a bad one. Knowing that a certain tool is ideal for a particular project will help you match the right tool to the requirements of your customer. This will aid in building trust and loyalty with your customers. This will help you feel confident that you provide the complete service. Additionally, understanding the trends in DIY culture can help you better know what your customers are looking for. For instance increasing numbers of homeowners are completing home improvement projects that require the use of power tools. This can result in a surge in sales of power tools. According to power tool shops near me , DeWalt is the leader in power tool sales with 16 percent. However, Ryobi and Craftsman have seen their shares decrease year-overyear. Despite this the fact that both in-store and online purchases are increasing. Tip 3: Offer Full-Service Repair The most frequent reason for a person to make a power purchase is to either replace a tool that has been damaged or broken down or to take on a new project. Both present opportunities for upsells and additional sales. According to the Home Improvement Research Institute's (HIRI) 2020 Power Tools and Accessories Product Purchase Tracking Study 35 percent of purchases of power tools were the result of a planned replacement. The customers might require additional accessories, or upgrade to a more powerful model. No matter if your customer is a seasoned DIYer or is new to the hobby, they will likely need to replace their carbon brushes for power tools drive belts, drive belts, and power cords with time. Keeping up with these essentials will help your customer get the most out of their investment. When buying power tools, technicians look at three aspects: the tool's application, the power source and safety. These factors aid technicians in making informed decisions about the best tools to use for their repairs and maintenance work. This helps them maximize the efficiency of their tools and reduce the cost of owning it. Tip 4: Continue to Keep Up with Technology The most modern power tools, for example are equipped with smart technology that improves the user's experience and sets them apart from competitors who still rely upon old battery technology. Wholesalers in B2B who carry and sell these tools could increase sales by targeting tech savvy contractors and professionals. Karch's business, which has more than 30 years of experience and a 12,000 square feet tool department is a testimony to the importance of keeping current with the latest technologies. “Manufactures are constantly changing the look of their products” Karch says. “They used to keep their designs for five or 10 years, but they're now changing them every year.” In addition to taking advantage of the latest technologies, B2B wholesalers should also be looking to improve existing models. For instance, by adding adjustable handles and lightweight materials, they can lessen the fatigue that comes from prolonged use. These features are crucial for professionals who employ the tools for a long period of time. The market for power tools is divided between the consumer and professional segments. This means that the biggest players are constantly striving to improve their designs and come up with new features to reach a wider market. Tip 5: Create a Point of Sale The e-commerce market has changed the power tools market. Modern methods for data collection have allowed business professionals to gain a holistic overview of market trends and help them develop strategies for inventory and marketing more efficiently. power tool shops near me of sale (POS) data, for instance, allows you to keep track of the types of projects DIYers undertake when they purchase power tools and accessories. Knowing what projects your customers are working on enables you to increase sales and provide extras. It also helps you to anticipate the requirements of your clients making sure you have the correct products on hand. You can also use transaction data to spot trends in the market, and then adjust production cycles accordingly. You can, for example, use this data to monitor fluctuations of your retail partners' and brand's market shares. This will allow you to align your product strategies to consumer preferences. POS data can also be used to improve levels of inventory, reducing the chance of overstocking. It can also be used to determine the effectiveness of promotional campaigns. Tip 6: Be a good neighbor Power tools are a complex, high-profit market that requires a significant amount of sales and marketing effort to remain competitive. In the past a competitive advantage in this market was accomplished through pricing or positioning products. But these methods are not effective in today's world of omnichannels where information is readily available to be shared. Retailers that focus on customer service are more likely to retain customers and build brand loyalty. Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls in Wisconsin has a 12,000 square-foot department for power tools. Initially, his department featured a sampling of brands, but when he began listening to customers who were contractors, he learned that most were brand loyal. Karch and his staff ask their customers what they plan to do with the tool prior to showing them the alternatives. This gives them confidence to recommend the most effective tool for the job and builds trust with the customer. Customers who are familiar with their product are less likely to blame the store for the failure of a tool on the job. Tip 7: Create a Point of Customer Service The power tool market has become a highly competitive market for retailers of hardware. The retailers that are successful in this market tend to be more committed to a specific brand rather than to carry a variety of manufacturers. The amount of space a retailer must dedicate to this category could also affect how many brands it can carry. Customers usually require assistance when they come in to purchase a power device. Sales associates can offer expert advice to customers who are looking to replace a damaged tool or undertaking a renovation project. Mike Karch, the president of Nue's Hardware and Tools, located in Menomonee Falls, Wisconsin, said that the employees at his store are educated to ask questions that will result in the sale. They begin by asking the customer about what they intend to do with the product. “That's the best way to decide what kind of tool they need,” he says. Then, they inquire about the experience of the customer with different types of projects as well as the project. Tip 8: Be sure to make mention of your warranty The warranties of the manufacturers of power tools differ greatly. Some manufacturers offer a comprehensive warranty, while others are more limited or do not offer warranties for certain tools. It's important for retailers to know the differences prior to making a purchase, because buyers will purchase tools from companies that offer warranties. Mike Karch is the president of Nue's Hardware and Tools, located in Menomonee, Wisconsin. He has a 12,000 square-foot power tool shop and repair shop on site that repairs 50 different lines of tools. He has observed that many of his contractor clients are brand loyal. Therefore, he prefers to carry a select few brands instead of trying to offer samples of various products. He is also happy that his employees are able to meet with vendors in person to discuss new products and give feedback. This personal contact is crucial because it builds trust between the store's customers and employees. Good relationships with suppliers can even result in discounts for future purchases.