There are a few smaller stores who are interested in carrying out product, but would need us to lower our wholesale pricing to do so.
We’ll probably go ahead and meet the lower price, because we’re interested in testing wholesale more, but I was curious if there was anything else we could negotiate in exchange. I was thinking something along the lines of product reviews, but I’m not sure how that would work exactly.
I'm Lizzy, one of the Gurus on the support team at Shopify.
First of all I think this is a fantastic idea. Asking for non-monetary value to compensate for a discount is a great way to get your product in front of a wider customer base while developing new business relationships. Depending on your business type and product, there are a few different ways you could use this to your advantage. What sort of marketing tactics are you using so far, that you could boost with these arrangements?
Your idea of reviews is a good place to start. You can create stickers or additions to your packaging that displays your website and invites customers to review the product after they've purchased. The stores could also display your website and business information on any noticeboards or displays around your product that they have. The store owners themselves can contribute reviews to your site too.
Would you say your product displays well visually? If so, encourage these businesses to send you photos of your product on display at their locations and use these on social media. This would then work as cross promotion for you and them. It looks good on your social media to show your product growing and appearing in new locations, while sharing their business too.
You can also request that they share features of your product on any social media they have. This would encourage sales and increase awareness of your product to their audience. Instagram stories is a really effective tool for this. They could create hype in the days leading up to when your product will be at their stores. Once they have the product they can showcase some of the top features. Of course you can discuss with them what is best to showcase. Again, you can use this content on your own channels as well.
The last thing I would look into is the business themselves. Do they host events at their location? Are they involved with other business in their communities? Would they allow you to host a pop-up shop at their location instead of reselling your product? What sort of unique advantages do they have, that you could use to promote or distribute your product further?
I hope these suggestions help you to come up with a strategy that best suits your business. Please don't hesitate to let me know if you have any questions about what I've said.