With almost 800,000 wholesale businesses in the U.S. alone, it’s safe to say that selling wholesale isn’t for the faint of heart. This is why it’s crucial to generate ideas for increasing sales in a wholesale distribution business.
Complex global supply chains and persistent expectations for lower wholesale prices from retail businesses only add to the woes of wholesale suppliers.
These challenges put increased pressure on the bottom line of wholesalers and make revenue generation a top priority.
So, how can you increase your sales in wholesale markets? Throughout this post, we’ll look at 4 different ways you can do just that.
1. Use marketing insights to fuel your sales channels and strategy
The first step in increasing your wholesale sales is to make sure your marketing and sales teams are on the same page. Otherwise, it’s going to be a lot harder to sell your product.
To drive more sales, you need your sales team to leverage the deep knowledge marketing has about customer acquisition. From how to communicate with prospects during sales outreach to what content resonates with your customers, marketing has plenty of insights sales can use to close more deals.
2. Focus on relationship-building
In crowded spaces like wholesale and retail, it often comes down to who you know. This is why an important aspect of increasing your wholesale sales is building strong relationships with other business owners.
This is great to keep in mind if you’re wondering how to encourage wholesale customers to place orders in the first place.
From offering your top clients discounts on large quantity orders to expediting the delivery of their shipments, going the extra mile for your customers can help you secure more business and ensure you’re who they want to buy goods from.
3. Automate your sales workflows
The key on how to improve retail or wholesale business is to allow your sales team to focus on selling instead of tedious, admin tasks. And thankfully, this is what workflow automation allows for.
When it comes to automating your sales workflows, there are plenty of tools available to wholesalers.
Placed directly on your website, lead gen forms capture the contact information of site visitors who want to learn more about your products. With lead gen forms, lead collection is automated and your sales reps can focus on generating wholesale sales.
Another helpful tool when it comes to automating sales workflows is dial automation software. By only putting sales reps on a call after your potential customer answers the phone, dial automation tools save sales reps time and let them connect with more leads in a day.
Using a CRM for wholesale is also a crucial part of increasing your sales. It’s particularly beneficial if you’re looking for how to boost online wholesale business.
From automatically updating your sales pipeline to enabling faster customer service, a CRM lets your sales team focus on revenue-generating activities.
4. Deliver a personalized sales experience
From writing a customer’s name on a fitting room door to sending out birthday coupons, the retail stores you sell to deliver very personalized sales experiences.
To increase your wholesale sales, you’ll need to give these buyers an equally personalized experience. Improving customer service strategies in the wholesale trade will immediately yield positive results for your business.
From recommending related products to preparing a unique sales pitch for each lead, your personalization efforts will go a long way when it comes to improving your wholesale sales.
Recap: How to increase your wholesale sales
Now that we’ve reviewed how to create more business in wholesale and retail, here are some actionable takeaways:
- Incorporate marketing insights into your wholesale sales strategy
- Focus on building positive relationships in the wholesale and retail space
- Use tools like a CRM and dial automation software to automate your sales workflows
- Provide your leads and customers with a personalized sales experience
For more ways to increase your wholesale sales, download this free ebook.