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Power Tool Sales and Marketing Strategies for B2B Retailers

Power tools are essential for both consumer and professional use. Despite an expected slowdown in 2021 due to the COVID-19 pandemic the demand is still at or near levels prior to the pandemic.

In terms of dollar share, Home Depot leads all outlets in sales of power tools. Lowe's follows closely. Both are competing against power tools made in China.

Tip 1: Commit to a brand

A lot of manufacturers of industrial products place emphasis on sales over marketing. This is due to the fact that the long-term sales process involves a lot of back and forth communication and a thorough understanding of the product. This kind of communication isn't ideal for marketing that is based on emotion.

However, companies that manufacture industrial tools should rethink their marketing strategy. The digital age has accelerated past traditional companies that rely on a few retailers and distributors to sell their products.

The key to power tool sales is brand loyalty. When a buyer is committed to a specific brand and brand, they are less responsive to the messages of competitors. They are also more likely to buy the product of the customer again and to recommend them to friends and family.

You require a well-planned strategy to have an impact on the US market. This means adjusting your tools to meet the local requirements and positioning your brand in a strategic way, and leveraging distribution channels and marketing platforms. It is also important to cooperate with local authorities, industry associations, and experts. You can be assured that your power tool will meet the standards and regulations of the country if you do this.

Tip 2: Be aware of Your Products

In a marketplace where product quality is important, retailers must be aware of the products they sell. This will help them make informed decisions about the products they offer their customers. This knowledge can make the difference between making a good or a bad purchase.

For example knowing which tool is ideal for specific projects will allow you to connect your client with the appropriate tool for their needs. This will allow you to build trust and loyalty with your customers. It will also give you confidence that you're providing the complete solution.

Additionally, understanding the trends in DIY culture will help you understand what your customers want. For instance the increasing number of homeowners are taking on home improvement projects that require the use of power tools. This can lead to a spike in the sale of these tools.

According to Durable IQ, DeWalt leads in power tool unit share at 16%, while Ryobi and Craftsman brands have seen their share decline year-over-year. However, both online and in-store purchases are on the rise.

Tip 3: Offer Full-Service Repair

The most common reason that a buyer makes a tool purchase is to replace a tool that has been damaged or failed or to embark on the task of a new one. Both of these can be used to increase sales and additional sales.

According to the Home Improvement Research Institute's (HIRI) 2020 Power Tools and Accessories Product Purchase Tracking Study 35 percent of power tool purchases resulted from a planned replacement. Customers often require additional accessories or may need to upgrade to higher performance models.

If your customer is experienced in DIY or is new to the hobby, they will have to replace the carbon brushes, drive cords, and power cords of their power tools in time. Being on top of these important items will help your customer get the most out of their investment.

When purchasing power tools shops near me, technicians take into consideration three aspects: the tool's application, the power tools store source and security. These factors help technicians make informed decisions about the best tools to use in their maintenance and repairs. This allows them to maximize the efficiency of their tools as well as reduce the cost of ownership.

Tip 4: Continue to Keep Up With Technology

The most recent power tools, like they feature smart technology that enhances the user experience and sets them apart from those who rely on old-fashioned battery technology. Wholesalers of B2B that carry and sell these devices can increase sales by focusing on professionals and contractors who are technologically advanced.

For Karch who's business has more than three decades of experience and a 12,000 square-foot tool department, staying current with the latest technology is vital. "Manufactures are constantly changing the look of their products," he says. "They used hold their designs for five or 10 years, but now they are changing them every year."

B2B wholesalers should not just take advantage of the latest technologies, but also upgrade their existing models. For instance, by incorporating adjustable handles and lightweight materials, they can reduce the fatigue caused by prolonged use. These features are essential to many professional contractors who use the tools over a long period of time. The power tool industry is divided into consumer and professional groups. This means that the biggest players are constantly striving to improve their designs and create new features in order to reach a larger public.

Tip 5: Create a point of Sales

The ecommerce landscape has changed the market for power tools. Data collection techniques have been improved allowing business professionals to get a better understanding of the market. This helps them develop more efficient inventory and marketing strategies.

Point of sale (POS) information can, for example, allow you to monitor the kinds of projects DIYers undertake when purchasing power tools and accessories. Knowing the types of projects your customers are undertaking enables you to offer additional sales and opportunities to upsell. It helps you anticipate your customers' needs, so that you always have the right products in hand.

You can also use transaction data to identify trends in the market, and then adjust production cycles in line with these trends. For instance, you can make use of this information to track fluctuations in your retail partners' and your brand's market shares. This will allow you to align product strategies with consumer preferences. Additionally, you can make use of POS data to improve inventory levels and reduce the risk of stocking up. It can also be used to assess the effectiveness of promotions.

Tip 6: Establish an Point of Service

Power tools are a complex, high-profit market that requires a substantial amount marketing and sales effort to stay in the game. In the past, gaining an advantage in this market was accomplished by establishing prices or positioning of products. However, these strategies are no longer effective in today's world of omnichannels where information is easily communicated.

Retailers who focus on service are more likely to keep customers and build brand loyalty. Mike Karch, the president of Nue's Hardware and Tools, located in Menomonee Falls, Wisconsin, runs a 12,000 square-foot power tool department. His department initially featured a variety of brands. However when he talked to contractors, he realized that they were loyal to their favorite brand.

To make a mark in their business, Karch and his team first ask customers what they'd like to achieve with the tool before showing them what they have available. This gives them confidence to recommend the right tool for the job and builds trust with the customer. Customers who are familiar with their product are less likely than others to blame the retailer for a failure of a tool for the job.

Tip 7: Be a guru in customer service

The market for power tools has become a very competitive area for retailers of hardware. Those who have seen success in this area tend to have a strong commitment to a particular brand instead of simply carrying a few manufacturers. The amount of space retailers can dedicate to a specific category could determine the number of brands they carry.

Customers frequently require assistance when they visit to purchase a power tool. Sales associates can provide the best guidance to customers looking to replace a damaged tool or are planning 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 to make an offer. They start by asking what the buyer is planning to use the tool for, he says. "That's the best quality power tools way to determine the type of tool they need," he says. Then, they inquire about the project and what kind of experience they have with different kinds of projects.

Tip 8: Create an End of Warranty

The manufacturers of power tools differ greatly in their warranty policies. Some manufacturers offer a comprehensive warranty, while others are more limited or do not cover certain tools. Before buying a product, it is crucial that the retailer understands the differences. Customers will only purchase tools from companies who back them up.

Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, has a 12,000 square-foot power tool department as well as an repair shop within the premises that can handle 50 models of electrical tools online (additional resources). He has learned that many of his contractor clients are loyal to a particular brand. So, he chooses to carry a limited number of brands instead of trying to carry samples of different products.

He also appreciates that his employees meet with vendors one-on-one to discuss new products and share feedback. This personal contact is important as it helps establish trust between the store and its customers. Having good relationships with suppliers can even lead to discounts on future purchases.