Vendors are the lifeblood of any market. Whether a flea market, farmers market, or swap meet. They keep you in business, and shoppers coming back week after week (or month after month). So one of the most important things you can do to keep your market running smoothly, is to take care of those vendors. Here are three ways to keep vendors happy, ensuring they keep coming back.
Keep Vendors Engaged
A lot of times we focus on how to make things easy for shoppers. But we need to spend time on the vendors as well. They are your customers! So think of ways to keep them engaged and happy.
You could try a vendor loyalty program. Where the more frequently they exhibit at your market, the different benefits they accrue. It could be as simple as food at the food court, though feel free to have fun with it. Maybe discounts on rent, or entered into regular drawings for prizes.
Using a tool like BoothBooks can help by seamlessly tracking who rented a booth that month, and how many times. If you are awarding a “cash” prize as a form of account credit, that can be handled as well which encourages them to stay with you in order to redeem it.
In the end, rewarding vendors for staying loyal to your market keeps them happy and coming back time after time.
Make Things Easy
Why make things overly complicated? Especially for vendors who constantly return, it doesn’t need to be a drawn out process. BoothBooks keeps a running history of each vendor, and with saved payment info, you can make the checkout process a breeze.
Its important to make things easy for new vendors as well. That first impression will help shape the opinion of your market and you want it to be a good one. If they require something specific like electricity or a covered booth, you want to make finding any acceptable booth locations or dates quick and easy. The easier it is to rent a booth, the more likely they will be willing to do so in the future.
Give them Options
Instead of just a carte blanche option of a flat fee for every booth, make pricing more dynamic and have vendors more engaged in choosing the perfect booth for them. BoothBooks offers a powerful rules engine that allows each booth to have a flat rate, but certain attributes will affect the price higher or lower.
This gives vendors more choices. If they want the bare minimum, you have now a cheaper option for them. But if they want that covered, corner booth by the food court that includes electricity, each of those attributes can increase the cost. That helps out vendors, but also can increase your bottom line.
You also want to offer options for payments and checkouts. Whether check, cash, or card, It is more accommodating to potential lessees, but you need to be able to track that intake clearly and report on it in the future.
Making the checkout process quick is also key. It allows you to process more transactions and lower wait times (which keeps vendors happy). You can even look at allowing vendors to check themselves out. An online vendor portal that allows them to choose the booth of their dreams from home makes it easier and thus increases the likelihood of getting them into your market.
They key to a great market, is great vendors. Giving them options, making exhibiting easier, and rewarding them for coming back can help grow your vendor base, and in turn, your market.