Breaking into the toy industry can be a tough gig. No matter if you’re a full-blown consultancy or just a one to two person team, having a strategy for getting more clients in an industry that’s both very intricate, but close-knit, breaking into the field can be a huge hurdle. However, that’s why we’re going to give you a few tips on how you too can start working towards the toy industry. Check them out below:
Study Up On The Industry
If you’re going to be landing more clients from the toy industry, doing your homework is a must. While it might sound like overkill, toys are a pretty vast field, taking up an array of different jobs across the board. According to data collected by marketer Brandon Gaille, the toy industry is estimated to bring in $22 billion per year in the US alone. That’s quite a bit of market share your consultancy could be taking advantage of, however, first, that comes with learning the foundational aspects of the industry.
A big part of the toy industry is first understanding the different sectors of how it’s structured. As there are manufacturers, designers, resellers, and even tastemakers/experts, the toy industry has a vast array of actors, which don’t always cater just to children; in fact, the volume of collectibles and memorabilia could be a field on its own. This is why it’s important for you to look through the types of clients you want to work with from a personal level, as well as from a money-making standpoint.
Look For Exciting Trends
While you might not have assumed that the toy industry is at the forefront of innovation and development, that couldn’t be further from the truth. Yes, believe it or not, toys are transforming quite a bit, adopting both to new technologies, as well as how the buying process has shifted as well. For example, as noted by Hubspot, approximately 62 percent of smartphone users have made an online purchase on their mobile device within the past six months. Companies like Jizels are disrupting the industry by creating an intuitively designed buying process for custom products on mobile.
Take a look around the toy industry and jot down any emerging trends you’ve recently seen or would be interested in exploring more. Try to think about the specific role your firm could play there, as well as what value you’d bring to the table. Even in the toy industry, it’s not enough just to beat the curve. Don’t sweat if this is something that’s intimidating at first; because with enough practice in building your pipeline, you’ll eventually find yourself more in line with companies that you’re passionate about.
Showcase Specific Skillsets
A big part of landing new business is the ability to explain your worth. This isn’t necessarily just relaying your experience, but rather how you can help that company make more money. As simple as that sounds, it’s also the biggest driver to what makes a successful consultancy and one that’s not. The difficult task here isn’t just speaking in general terms, but showing a quid-pro-quo equation on how to make more money. However, first, that comes with getting into the practice of knowing where you stand and the value you can bring.
Take a look at the overall, general elevator pitch you could give to a toy company today. For example, being a “marketing company that can reach Gen-Z consumers,” would be a good start. Improve the pitch by utilizing specific details, such as how 45 percent of teens use Instagram to discover new products. That is why businesses use services like Social Gone Viral to capture genuine engagement. Hashing out these details ahead of time will only give you a list of pitches to choose from, but some that will help you quite a bit in being concise with landing more business.
Keep Your Outreach Consistent
Finally, as you start generating a sales strategy for more toy companies, it’s important to keep your outreach consistent, giving yourself the best chances of hitting your benchmarks. The numbers for sales can sometimes be pretty unforgiving, for example, as noted by TopoHQ, only 23.9 percent of sales emails are even opened, which goes to show just how much sheer outreach is necessary to be successful. However, bear in mind that finding your balance between quantity and quality is key, giving you the best chances of linking up with the toy companies you’re most passionate about.
Make a list of the current prospects that are on your “must have” list, including the reason why you admire them or want to work with them. From there, start scribing out the value you can present, as well as how you can specifically draw them in customers. Try to keep up with practice on a bi-weekly, if not daily practice, keeping you engaged in the game day-in and day-out. While the toy industry can be a challenging one to break into, once you’ve got your established with a consistent pipeline of customers, you’ll be off playing in no time.
What are some strategies you’ve utilized to land more clients in a specific industry? Comment with your answers below!