What Toy Companies Care About
There are in essence 3 main things that Toy companies care about in my experience.
Frankly, everything else is pretty much just the fluff around what counts.
The reason for me writing this post is that I’ve recently had a spate of rather random experiences and enquries from 3rd parties looking to sell something to Toy companies (which by the way I welcome), but in most of these cases, the real benefit to the Toy companies was missing i.e. it was a bunch of benefits that weren’t really that interesting/exciting to Toy Co’s.
So, for anyone interested, here is our take on the 3 things Toy companies care about:
1. Having cool product to sell – Toy companies are very product driven/lead. The stronger the product portfolio, and the more ‘must have’ cool products they have the stronger their business will be and the more likely it is that retailers will list their products.
2. Selling as much of it as they can – clearly they want to sell it at profitable margins, but without sales there is nothing else to worry about, as the company won’t be in business long. So pursuing new sales opportunities and new proftiable/viable customers/markets is always interesting.
3. Effective financial management – all of the above is very well, but Toy companies have harsh cashflow challenges due to the seasonal nature of the Toy sales cycle i.e. they have to cashflow the entire year round, but most of the sales are in a fairly limited portion of the year. They also trade with considerable risks relating to inventory and highly demanding/margin eroding customers. So in short, prudent and effective financial management is critical for toy companies.
All of which is pretty obvious, and all very well, but so what…well firstly if you work in a Toy company, is your company getting it’s eyes drawn off the ball towards other fluffy stuff which doesn’t positively contribute towards these 3 areas?
If you are looking to work with Toy companies, regardless of what service or product you offer, you would do well to build your pitch around one of these 3 key areas if you want to successfully recruit Toy companes as clients and customers!
All the best
Steve and team
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