How to grow as a wholesale business
Wholesale businesses rely on custom from retailers for profit and growth, so to continue increasing sales and developing as a business, it’s important for wholesale businesses to use new tactics and strategies to remain at the forefront of their industry, secure high volume sales and stay on top of the competition.
In December 2018, there were 2.2 million more businesses than in 2000, an increase of 63% over the whole period, which means a more heavily saturated market and competition for businesses to breakthrough. In such a competitive market, to continue growth and boost those all-important wholesale orders, wholesale fashion retailer BGirl Fashion shares their tips to help make your business grow.
Make the buying process easy
Consumers need a reason to keep giving wholesale retailers their business, and a big reason for many is time. As company owners themselves, they might not have the time to comply with difficult or confusing buying processes, whether that be online or in person. By making the buying and delivery processes seamless and stress-free, you’re increasing the chances of return custom with each transaction.
Online sales are often the way forward for bulk purchases from retailers, so be sure to invest in a functional and efficient website that is clear and clean while providing details for the customers on their order and delivery status; a customer spending their time and money with you deserves a swift and streamlined order process.
Create a strong marketing strategy
A strong marketing strategy is important for all businesses, but with wholesale businesses relying on repeat trade often requiring significant amounts at a time, it’s important to ensure that your business’ marketing strategy is strong to engage with more retailers.
Create compelling content to increase visibility and brand awareness in the press while also increasing your SEO value is an essential way to boost your business profile and online presence, along with utilising and investing in your social media and other online tools.
Tailor each user experience
Research from Epsilon found that 90% of consumers enjoy personalised experiences, with 80% saying that they’re more likely to purchase from a brand that offers that service, which shows how impactful these experiences can be to consumers as well as contributing to the success of a business. Your website is the first port of call for most of your audience as digital user experience becomes increasingly important.
To ensure you’re offering the best service and online experience for your visitors and customers, personalisation of each user experience on your website will make you stand out from competitors; For example, fashion brands often recommend users similar products to previous purchases or new in clothing to increase the chances of repeat buying while making each customer feel valued.
Offer incentives to loyal customers
Through social updates, email marketing and website announcements being just some of the ways to reach out to your customers, will keep your audience up to date with new products while keeping them interested and at the forefront of their mind.
It is also important to reward loyal customers by offering discounts, competitions and other ways to make your customers feel valued, whilst also working on enticing new customers through different engagement methods such as offering a discount off their first order.
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