Customers would rather do business with a particular company than doing business with several companies at a time. They prefer to buy all (or most) of what they need from one wholesaler than going to different wholesalers every time. This means that your existing customers are actually willing to buy more, but won’t if you neglect them for new customers.
As a wholesale business owner, you need to focus, not just on acquiring new customers, but increasing sales to existing customers. Task your sales people to enhance customer loyalty and increase sales to them with the following steps:
#1 – Know Your Customers And Establish A Relationship With Them
Once you know your customers, you can begin to establish a relationship with them. The business is made of people, and customers are also people. The customers should be able to feel like they are doing business with human beings and not a computer, you can do this by:
- Offering customers tips on how to get the best out of their business dealings. Information is always valuable, and you should be a fountain of information to your customers. Offer solutions to your customers on problems they might have. Help them with advice on how to make the most of their business transactions. The customer should know that they can come to you with their issues and you would be able to help.
- Each customer should feel as if they have a special relationship with you. Make them feel special. Help them with information and knowledge to guide them in achieving their business goals.
- Know your customer’s customers. The customers of a wholesale business are retailers. You as a wholesaler should get to know the customers of your own customers. Understanding their buying trends and history. Knowing all you can about your customers will enable you to sell more to them.
#2 – Create Strategies To Get More Business From Your Existing Customers
Now that you know them, your next aim is to increase business with them, getting them to buy more from you. Developing a plan of action to get more business from your existing customers should include:
- Finding out if your customers’ needs are being met. As said earlier, wholesalers make the mistake of ignoring their existing customers in pursuit of new customers. Now that you know of the customer, convince them to stay with you and increase their business with you, rather than going to the competition.
- Let the customers know why doing business with you is a wise decision. Customers like to feel that they are making smart purchasing choices when buying from you. You should reinforce this to help your customers feel satisfied with their decisions.
- Improve your after-sale support. Sales staff can use after-sale support to increase customer loyalty to your wholesale business. The support that sales staff provide after the sale too is equally important. After-sale support can make or break customer relations. Your customers might go to the other wholesaler who has excellent after-sale support.
- Get information from your customers about the competition. Carry out a survey that will let you get information from customers about how they feel about the competition. You can then know what they are doing that you aren’t which is potentially costing you business. Knowledge is power, and with knowledge, you can make your services better and increase your sales.
#3 – Build Trust with your Customers
Making yourself credible, accountable, and trustworthy helps you increase sales. Building trust with your customers will definitely increase their loyalty to you and increase the number of purchases they make with you.
Here are tips on how to build trust and credibility:
- Be ready for anything that the customers might want to know. Expect the questions they might ask and have your answers ready. Gather all the necessary information on products, services, pros and cons, alternatives, and the competition. Customers appreciate it when they can get valuable and credible information from your representatives.
- Be honest to your customers. Do not sell them something you know won’t benefit them, or won’t provide them with what they need. You should know all the information about the products and services you are selling. You should also be able to tell your customers the benefits and disadvantages of your products or services. Provide them with testimonials and reviews, and even give them samples to test before they buy the actual product. Honesty increases sales.
- Help them improve their own business. Your retailer customers also have businesses and competitors. Help them to develop strategies to make their business better. Provide advice and valuable information to them on handling the competition and increasing their own business. This will ensure that your existing customers buy more from you, and they will even bring you more business, more customers.