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3 Easy Steps to Growing Your Wholesale Business

growing your wholesale business

Starting and getting your first few customers is all about doing the minimum “effective” things, but what really makes a wholesale business grow? It’s a combination of having a repeatable source of new leads, good profit margins, and constantly looking at ways to systemize and make your business more efficient.

The easiest way to go about it is to learn how to connect with your buyers. Establish a relationship with them and put up a communication line that you can take full advantage of in upping your game.

Consider the following steps in developing your wholesale business.

1. Grow customer relations

You only need a small window of opportunity to reach your customers or potential buyers. Once you get through that, you establish a connection with them – the kind that has the highest prospect of propelling your wholesale business forward. How?

That relationship you have is now freely available for you to tap in anytime. You are free to engage them and ask for reviews of your product or service. Get a look at how they have enjoyed your product or service. You can elicit a description from them, allowing them to share their experience and their view of your business.

Their perspective will help cement a foundation in the eyes of potential customers regarding your brand and business and help build a reputation for you that is sure to boost your business’ marketing. Loyal customers translate into a trusted wholesaler.

2. Use social media marketing

While it may not be an absolute guarantee of increased sales, your social media efforts will stimulate an interest in your product or service. Your online materials will serve to benefit you through reaching your target customers. According to OrderCircle, “This communicates to potential buyers that there is already a demand and appreciation for your products.”

3. Develop your website and content

You’re basically building a home base for your brand. It’s where you lay all your products and services for both your loyal and potential customers to see. The way you present your home base or your brand will be the basis of how your consumers will react.

So, what you need is to make sure that you are easily found by your target consumers. To do this, you need to optimise your website through the use of keywords and be sure to make it consumer-friendly. In other words, once they find your site, they must be able to easily acquaint themselves with the functions of your website so they won’t have difficulty making a purchase or getting answers to their inquiries.

Of course, your buyers might have several questions regarding your product or service. The best way to address them is to provide useful content that not only engages them, but shows them just how valuable your goods are. Great content like blogs, videos or informational articles relating to your merchandise will definitely facilitate their decision-making, which will most likely be favourable to you.

While it may be important to know how to expand the reach of your wholesale business, it’s also a great idea to know how to engage your consumers in a way that is going to increase your sales and lure in new customers.

Here are a few tips for you to consider:

Generating Higher Sales

1.growing your wholesale business Offer deals and discounts.

Loyal customers or retailers will always be on the lookout for promotions where they can get the most for the least amount. Like a ‘get more for less’ deal.

If you consider giving a “two for the price of one” discount or a “50% off for multiple purchases”, you’re likely to generate more orders because nobody would ever miss out on such a great deal. Your retailers will be lining up to put more orders in.

2. Guarantee ease of delivery.

Like you, your retailers are also looking for the least bit hassle in their dealings with suppliers and customers. They would also want to be efficient in the orders they’re placing with you.

So, why not try offering them a “one-day delivery” or a “free shipping” discount for their purchases? Everyone loves promptness when it comes to business transactions.

Getting a Hold of New Customers

1. Offer deals and discounts.

You basically apply the same marketing strategy, but you offer deals of a different nature. A newbie buyer is not likely to get attracted to a “Buy 1 Take 1” kind of deal if they don’t really trust you that much yet.

What you can do instead is engage them by giving discounts specifically for them like first time purchases. Other offers could include limited time offers that may compel them to buy immediately while the offer stands, and incentives for possible referrals made.

2. Create compelling, engaging campaigns

What good would your product or service be if nobody ever gets to know about it? No matter how awesome and life-changing your merchandise is, nobody will be able to appreciate it if you don’t put effort into colorful marketing.

Tradegecko puts your need for eye-catching campaigns in this manner, “Use color, contrast, and other professional design elements to attract the attention of new retailers, following up with sales copy to drive a call to action.”

It’s not about keeping your wholesale business operational anymore. It’s about lifting it up and raising the bars to not just better serve your loyal customers, but to expand your market and venture forth into a whole new range of target buyers. With the right business strategy, you can definitely achieve more.

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Editorial Staff

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