As a wholesale business, you make money when retailers buy your goods – but that’s sometimes easier said than done. If you’re out of ideas on how to attract more buyers, I have 10 tips for wholesale business that you might be interested in.
How to increase your wholesale sales
Use the following tips to create a buying experience that retailers can’t get enough of:
1. Offer specials that bring retailers better-than-wholesale prices.
Building double savings into your offerings through daily, weekly, or monthly deals will put you at a competitive advantage and help you move your merchandise more quickly and easily. B2B buyers will watch for these specials and will appreciate the added savings they receive when they deal with your company — which means more orders for you.
Like any retail establishment, wholesale businesses can also offer special deals on merchandise, beyond the initial wholesale discount. You can also offer incentives in the form of discounted prices for bulk orders.
2. Provide outstanding customer service.
Always treat your buyers with courtesy and radiate professionalism. Be willing to go the extra mile for a retailer who purchases your products, and never be afraid to lose an occasional “battle” in order to win the wholesale business “war.” Treat every retailer with empathy and understanding — even if occasionally you have to refuse a request. This sort of treatment will go a long way toward creating loyal, higher-volume wholesale customers.
The little gestures do matter
3. Make wholesale ordering, delivery, and billing as seamless as possible.
Automate your order management and product distribution processes as much as you can. The key value of automation is that it streamlines complex fulfillment processes and reduces the need for manual labor, enabling you to provide better, more efficient customer service from ordering to payment and shipping.
4. Streamline your operations.
Business owners that run their own companies efficiently expect the same from their suppliers. That means the onus is on you to maximize operational efficiencies at your own business. Integrating inventory, finance, shipping, logistics, etc. within an intelligent cloud B2B inventory management system or ERP inventory management system is a win-win for both the customer and your business.
5. Make order recommendations.
In fact, you may want to suggest additional merchandise based on the order placed by the retailer, a process that can either be automated or handled by a live customer service representative. This is the equivalent of selling add-ons in retail sales.
6. Create compelling, eye-catching campaigns.
Aesthetics are just as important as content. Use color, contrast, and other professional design elements to attract the attention of new B2B customers with an engaging digital marketing campaign, following up with sharp copy and a clear call to action.
7. Offer special discounts to new buyers.
A one-time discount for new customers can be an effective way to attract new business, whether the customer is a retailer or a consumer. If they like you enough, they’ll keep coming back, even without a discount.
8. Offer incentives for referrals.
It’s all about who you know. Your buyers have their own networks. Leverage them by offering a reward for referrals so you can easily tap into these wholesale connections.
9. Advertise a free gift with every new buyer’s first purchase.
Everybody likes presents, including B2B customers. Consider offering different gifts based on the size of the initial order. You’ll make it even more likely that a buyer will select your company as its supplier while encouraging a larger initial purchase.
10. Provide limited-time offers that encourage retailers to buy now.
You’ve got their attention. Don’t lose it. Building definitive deadlines into your offers can provide the incentive your prospect needs to move from “maybe” to “yes.”