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Power Tool Sales and Marketing Strategies for B2B Retailers Power tools are essential for both professionals and consumers. Despite a slowdown in 2021 due to the COVID-19 pandemic, demand remains near or at levels prior to the pandemic. Home Depot is the leader in the sales of power tools by dollar share. Lowe's is close behind. Both are competing against power tools made in China. Tip 1: Create an Engagement to Brands Many manufacturers of industrial products put a higher priority on sales over marketing. This is because a long-term purchase requires a lot back-and forth communication and detailed product knowledge. This kind of communication isn't ideal for marketing that is based on emotion. However, companies that make industrial equipment should reconsider their marketing strategy. The digital world has raced past traditional manufacturers who rely on a few retailers and distributors for sales. The key to selling power tools is brand loyalty. If a client is committed to a certain brand they are less receptive to the messages of competitors. Moreover, they are more likely to buy the client's product time and time again and recommend it others. To be successful on the United States market, you must have a well-planned strategy. This involves adapting your tools to local needs and positioning your brand in a manner that is competitive and leveraging marketing platforms and distribution channels. Collaboration with local authorities, associations and experts is also essential. You can be sure that your power tool is in line with the requirements and standards of the country if you do this. Tip 2: Know Your Products Retailers should be familiar with the products they sell, especially in a market that places such a high value on product quality. This will enable them to make informed decisions about the products they can offer their customers. This knowledge can also make the difference between a successful deal and a bad one. For instance, knowing that a tool is suitable for the particular task can help you match your customer with the best tool for their requirements. You'll earn trust and loyalty among your customers. This will ensure that you are offering an entire service. Understanding DIY culture trends can also help you better understand your customers' requirements. For instance the increasing number of homeowners are taking on home renovations that require the use of power tool. This can result in a surge in sales of power tools. According to DurableIQ, DeWalt is the leader in power tool units at 16%. However, Ryobi and Craftsman have decreased their share year-over-year. Despite this, both online and in-store purchases are increasing. Tip 3: Offer Full-Service Repair The majority of consumers purchase power tools to replace the broken one or tackle a new project. Both of these can be used to increase sales and add-on sales. According to the Home Improvement Research Institute (HIRI) 2020 Tracking Study of Power Tools and Accessories 35 percent of all purchases of power tools are the result of planned replacements. Customers may require additional accessories, or upgrade to a better-performing model. Whether your customer has experience in DIY or is new to the hobby they will need to replace the carbon brushes, drive cords and power cords of their power tools as time passes. Keeping up with these essentials will allow your customer to get the most value from their investment. When buying power tools, technicians look at three aspects: the tool's application, the power source and security. These factors aid technicians in making informed decisions about the best tools to use for their repairs and maintenance work. This allows them to maximize the performance of their tool and lower the cost of owning it. Tip 4: Keep Keeping Up With Technology For instance, the most recent battery tools have smart technology that improves the user experience and sets them apart from other brands that still depend on old-fashioned battery technology. Wholesalers in B2B who carry and sell these devices can increase sales by targeting professionals and contractors who are technologically advanced. Karch's company, which has over 30 years of experience, and a 12,000 square feet tooling department is a testament to the importance of staying current with the latest technologies. “Manufactures are constantly adjusting the design of their products,” he says. “They were able to hold their designs for five or 10 years, but now they alter them each year.” B2B wholesalers should not just embrace the latest technologies but also improve existing models. By incorporating lightweight materials and adjustable handles, wholesalers can reduce fatigue due to long-term use. These features are essential for many contractors working in the field who utilize the tools over a long period of time. The market for power tools is split into consumer and professional groups. This means that major players are always working to improve their designs and create new features in order to appeal to a wider market. Tip 5: Make a Point of Sale The landscape of e-commerce has transformed the market for power tools. The advancements in data collection techniques have allowed business professionals to get an entire perspective of market trends which allows them to design marketing and inventory strategies more efficiently. Point of sale (POS) information can, for example, allow you to keep track of the types of projects DIYers tackle when they purchase power tools and other accessories. Knowing what projects your customers are working on permits you to upsell and offer additional products. It allows you to anticipate your customers' needs, so that you always have the right products on the market. Additionally, transaction data can help you to spot trends in the market and adjust your production cycles accordingly. For instance, you can utilize this information to track changes in your brand's and market share of retail partners which allows you to adapt your product strategies to consumer preferences. Additionally, you can make use of POS data to improve levels of inventory and decrease the chance of overstocking. It is also used to assess the effectiveness of promotions. Tip 6: Create a Point of Service Power tools is a profitable complex market that requires significant marketing and sales efforts in order to stay competitive. In the past, gaining an advantage in this market was achieved by pricing or positioning products. But these methods are no longer effective in today's omnichannel environment where information is easily available to be shared. Retailers who focus on service are more likely to retain customers and build brand loyalty. Mike Karch, the president of Nue's Hardware and Tools, in Menomonee falls, Wisconsin, runs a 12,000 square-foot power tool department. His department initially featured various brands. However, as he listened to contractors, he realized that they were loyal to their favorite brand. To make a mark in their customers' business, Karch and his team first ask their customers what they want to do with the tool, then show them the options available. This gives them the confidence to recommend the right tool for the job and builds trust with the customer. Customers who are familiar with their product well are less likely to blame their retailer for a malfunctioning tool during the course of work. Tip 7: Make a point of customer service The power tool market has become a very competitive area for hardware retailers. The retailers that are successful in this category tends to be more loyal to a specific brand rather than to carry a variety of brands. The size of the space that a retailer needs to devote to the category may also affect the number of brands it can carry. When customers go in to purchase power tools and require assistance, they usually need help choosing a product. Sales associates can provide the best guidance to customers looking to replace a broken device or completing an upgrade project. Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, says his sales associates at the store are trained to ask the right questions in order to make a sale. They begin by asking what the buyer is planning to use the tool for, he adds. “That's how you determine the type of tool they require,” he says. Next, they ask about the project and what level of experience the client has with different types of projects. Tip 8: Make a Point of Warranty The warranty policies of the manufacturers of power tools are quite different. Some are completely comprehensive, while others aren't as generous or do not cover certain components of the equipment. Before making a purchase it is essential that retailers understand the distinctions. Customers will only buy tools from companies that will provide a warranty. Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, has a 12,000-square-foot power tool department and an repair shop within the premises that can handle 50 lines of tools. He has observed that many of his contractors are loyal to their brands. So, he chooses to carry a limited number of brands rather than offer samples of various products. He also likes the fact that his employees can meet with vendors one-on-one to discuss new products and provide feedback. power tool for sale of personal interaction is crucial because it helps build trust between the store and its customers. Building strong relationships with suppliers may lead to discounts on future purchases.