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How to grow as a wholesale business

Ellen Must
March 24, 2021
3574 Views

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.

fashion

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.

When you first start to get those few new customers to your wholesale business, you have to be doing a minimum amount of effective task. For your wholesale business to grow, you have to grow your combination of new leads, leading to good profit margins, and you have to constantly look for ways to systematise to make your business more efficient.

The easiest way is to learn how to connect with new buyers. It would help if you established a communication line with them to develop a relationship, take full advantage of every opportunity and upping your game.

Consider these few additional steps and follow them to develop your wholesale business.

Developing good customer relations

You only have a small window of opportunity to reach your potential buyers. It would help if you established a connection to get the best prospects and propel your wholesale business forward.

It would help if you made yourself freely available at any time to develop a relationship with your buyers. You should feel free to engage in reviews of your products or services, and you should also elicit or ask your buyers to share their experiences about your business.

This will develop a new perspective, and it will help cement the foundation of trust and goodwill within your potential customers’ eyes regarding your business and your brand. It will help build your reputation and boost your businesses marketing. When you have loyal customers or buyers, it translates in other peoples eyes that you are a trusted wholesaler.

Use social media marketing

If you use social media correctly, your efforts will help stimulate interest in your product or service and will guarantee an increase in sales for you.

Don’t forget to develop your website and your content

By developing your website and your content, you are building your brand. You connect with potential customers, and you’ll be able to target new customers and optimise your website to its fullest potential.

Your buyers or potential buyers will no doubt have several questions about your product or service, so if you have helpful content on your website, it will engage them; it will tell them about your goods or services, but above all, your content should have high quality, informational articles related to your business.

Making sure you have optimised your website with good site architecture and many other SEO factors will help expand your wholesale business’s reach. It will engage your potential customers and lead to an increase in your sales.

Here are a few tips on how you can generate higher sales.

Offer discounts

By offering discounts to your loyal customers when developing promotional packages such as two for the price of one discounts and other types of packaged promotions, you will get more customer loyalty, and no doubt they will buy more from you.

Guarantee delivery

Another way to guarantee your customers will keep coming back to you is to offer with every order one-day delivery or free shipping, and this will prompt people no doubt to buy more. We live in an instant society where everybody wants something right now. So the quicker you can get the orders out, the more people are willing to buy because they can get it very, very quickly.

Offer deals

Some of the deals that you could offer can be very easy to implement. One popular one is buying one and get one free. Include a limited time offer, and offer other types of incentives for your customers to buy more from you but, more importantly, to keep coming back to you and remain loyal to you.

Create compelling or engaging campaigns

Believe it or not, people do appreciate colourful and clever marketing. By developing eye-catching campaigns by using colour, contrast, and professional design elements, will attract a lot of attention, but a lot of your loyal customers will keep coming back because you are keeping your business within their minds. If you cannot create engaging campaigns by yourself, by all means, employ somebody, a creative person, or a professional copywriting company to do this for you. Your sales copy needs to drive action to your website or your wholesale business no matter what you do.

By keeping your wholesale business in the hearts and minds of your current buyers, by continually raising the bar as far as your service and your advertising go, not only will you keep your customers loyal, but you will expand your market share in the wholesale industry.

 

 

Ellen Must

Ellen Musk is a fictional in-house editor at Mad House publications and writes for Startup Life and Tech Yeah. She has a passion for technology, innovation and science. Her articles are produced right here in the Mad House and often cover subjects like new startups, interesting stories from the marketing world and tips for aspiring entrepreneurs.

If you are interested in joining Ellen as a member of our contributor community, visit Madhouse.pub or email [email protected]
Ellen Must

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