Amazing Growth Tactics to Boost your Wholesale Sales

Managing a wholesale business is difficult. On top of that, technological advancement has given the wholesale business a complete facelift. Today with multi-channel shopping experiences, thanks to e-commerce, retailers and individual wholesale customers are expecting the same customer experience from their suppliers as they receive when they are B2C customers.

Your wholesale business will only succeed when you can sustain a long-term relationship with your stockist. So, in order to keep them coming back for more purchases and acquiring new clients as well, you can make use of these quick ideas to boost your wholesale operations.

1. Adopt new technology

Technology is ever-changing and keeping up-to-date with the latest tech innovations and trends will go a long way in pushing your business further. For wholesalers, dealing with large volumes of inventory and making sure each consignment is shipped and delivered on time is a major concern. Adding on top of that they need accurate data on orders from multiple channels. For this, you also need complete visibility into your inventory status for greater inventory control. Investing in an inventory management system for your wholesale business might be a sensible move.

A good inventory management system will give you real-time insights into inventory levels, incoming and outgoing shipments, quick sync with all your marketplaces and channels and finally, integration with shipping carriers and accounting tools.

2. Incentivize

Wholesale customers are always on the lookout for special deals that save them money. You can differentiate yourself from other wholesalers by offering special deals apart from the initial wholesale discount. This tactic will not only spike your profit but also give an incentive to your buyers to do more business with you.

Some other ways you can give incentives to new and existing customers-

• Provide a special discount to new customers., for example, one-month free shipping.
• Start a Referral program where customers receive offers and discounts for every referral they make to their contacts.
• Taking an idea from above, you can even start an affiliate program, where your customers become affiliates or brand spokespersons for your business and receive bonuses and rewards, along with additional services for promoting your business to their network.

3. Focus on Marketing

Just like marketing is important for mainstream retailers, it also important for wholesalers to increase their brand visibility. Ideate and work on new kinds of marketing and advertising. Engage customers through captivating yet persuasive digital marketing campaigns.

• Use direct email marketing to your advantage by sending the latest product previews and promotional offers to your existing client database.
• Be active on social media by posting regular updates in terms of new products and offers. With the help of Facebook ads, you can even customize your ads according to your target audience.
• Optimize your website by making sure it is a responsive one as customers aren’t shopping only from a single device anymore. Show offers in the center of the home page so that customers are easily lured deeper into your website.

4. Customer Service is a Top Priority

Customer service should be the top priority for your wholesale business if you’re looking to impress your buyers. Today’s customers are tech-savvy and informed.

Customers that shop through multiple channels tend to spend more and are loyal too. This is because a multi-channel set-up provides them a holistic shopping experience. So they look for excellent customer support and multi-faceted service from B2B wholesalers as well.

If you haven’t taken your wholesale business online yet, then train your staff to interact with buyers in a friendly manner. Teach them to give demos or any necessary information to buyers when they require assistance.

5. Simplify logistics

Your wholesale business operations should be smooth and easy. If they are too convoluted, then retailers will obviously avoid ordering from you, resulting in a drop in sales.

To make things simpler, many wholesalers are moving towards automating their order management and fulfillment processes. Using an order management and shipping software, you can reduce the number of errors caused by manual data entry and record-keeping. An order management software streamlines business operations like ordering, billing, shipping, and delivery. You can track every order form your buyers, reduce backorders, save time, money and resources.

So, to put the finishing touches to your wholesale strategy…

Wholesaling can be a booming business venture if bundled along with an aspiring wholesaling strategy. The above-mentioned insights are solely and precisely what you need to boost your business, the wholesale business!