When it comes to having a successful partnership with brands on Canal, it’s a two-way street. Below are our best tips for how you can set your relationship with your Supplier up for success!
Share your goals and expectations early on
As soon as you establish the goals for a product launch, be sure to share those with any potential partners as you initiate that relationship. Ask if those align with their incentives, and if not, be sure to assess if that’s the right relationship for you. We recommend including your marketplace goal in the message portion of your Canal proposal!
Here’s a great example of what this message could look like:
Hi <Supplier brand name>! We’re huge fans of your product and would love to include it in our upcoming Holiday Gift Shop. We’re planning to launch around November 1st and would like to feature 5-10 brands in the food and beverage space. Would you be interested in partnering with us?
Submit proposals at their commission levels
When submitting your proposal to a Supplier, we recommend submitting it at the pre-populated commission level. The Supplier sets this commission level when they onboard to the Canal app and is their expected fee.
Forecast demand for their products
To ensure a seamless experience for your customer, and ensure your Supplier can support you operationally, it’s a great idea to forecast anticipated demand for their products. This is especially true if you’re planning any promotional events, complementary product launches, or have seasonality that you believe will significantly impact demand. Providing visibility to suppliers will ensure a positive experience for your customers and avoid cancellations.
Promote their products as you would your own
When you launch any new product, you want to give it a bit more promotion than your existing products, right? With partner products from Canal, it’s the same thing. It might take your audience some time to warm up to these new brands or items, and so we recommend planning your promotion accordingly.