If you run a wholesale store or a B2B WooCommerce, you profit when others purchase your products. At first glance, this might seem simple. After all, your sales are bound to increase if only a few customers buy a lot of your product.
However, this is only sometimes the case. If you own a wholesale store, you can only afford to do something other than wait for customers to buy your products. If you want your wholesale store to succeed, you need to do more than bring in new customers. You must nurture customer loyalty and get your current client to buy from you again.
If done properly, wholesale business can be extremely profitable. This article will discuss some strategies that can help you get more wholesale customers.
How to Get More Wholesale Customers?
Let’s not give you a whole nonsensical lot of unwanted information and move directly to the primary concern, which is how to get more wholesale customers.
Advertise A Discounted Price
When it comes to wholesale purchases, most customers want value for money. And if you’re in a position to do so, selling wholesale products at a discount might be the deciding factor.
But reducing your costs substantially is one of many options you have. After all, your B2B customers may not even notice that you reduced the wholesale unit price by a few cents. And new clients will be unaware that they are receiving the lowest price if you do not advertise it.
Inform your customers that you’ve given the best pricing on the things they frequently purchase. You’ll also need to show that your pricing is the lowest in town to convince prospective customers of the value you’re providing.
Remember that you are not required to reduce the wholesale price of each and every product in your store. You can instead pick and choose where to provide discounts, possibly reducing the wholesale price on a few items that you know a large number of your B2B customers would purchase.
To maintain your profit margin, you can decide to give these discounts exclusively to customers who buy a minimum number of products. However, advertise it regardless of how you achieve the lowest prices. You can use a plugin like WholesaleX to easily manage discounted prices in your B2B WooCommerce Store.
Discover How Customers Pick Potential Suppliers
Consider putting yourself in the position of your potential wholesale customers. After all, businesses tend to be selective when it comes to dealing with new suppliers.
There’s one sure thing: if wholesale customers have never heard of your store, they won’t buy from you. So make sure your business has a strong online presence, consider participating in trade events, and explore paid search initiatives to help your target audience discover you more quickly.
When potential new consumers are checking you out, make it simple for them to make their inquiries. It is important to be able to express the value you provide to customers throughout the review process, and this can be done by understanding the advantages you give them, such as location, dependability, and price.
Optimize Your Customer Experience
To attract more wholesale customers, promote how easy it is to do business with you. Everything from ordering to communicating to delivering to paying should be simplified. In order to win over picky customers, both new and old, you must optimize their experience at every step.
Naturally, “perfect customer experience” may have various definitions depending on the individual. For example, some of your customers may prefer to make orders with you by phone, so don’t discourage them. And if you have consumers who want to communicate only via email or a web portal, accommodate that option.
It is also possible to improve processes internally via the use of automation systems, for as by upgrading to a better inventory management system. A well-organized wholesale inventory will allow you to respond quickly to inquiries and fulfill consumer requests.
Provide Personalized Recommendation
Providing wholesale customers with personalized recommendations for related products might help increase the average order value.
Look at the things they buy the most of and target new clients with similar interests. Once you have this information, you can start recommending your customers wisely.
Communicating with your customers is a great way to learn more about their business. For example, if a prospective customer lives nearby, you can schedule a meeting to drop by and introduce yourself. As a result, you can provide better information regarding your products.
Offer Discounts for both New and Existing customers
In order to boost sales or encourage first-time purchases, you can offer a wide variety of discounts and other perks to both new and returning consumers.
New and existing customers can equally benefit from bulk discounts, which can be used to boost earnings for all parties involved. Faster inventory turnover means less time spent and money spent on maintaining old inventory. In addition, B2B customers can save money by purchasing items they know they’ll use.
Promotional rewards for bringing in new customers might be in the form of discounts or rewards programs. The worth of such a discount or reward will, of course, change depending on the nature of your business.
Suppose you want your referral program to generate referrals truly. In that case, you need to offer attractive discounts to prospective referrers but still allow you to fulfill your profit margins.
Offering both customers is time-consuming, however, WholesaleX provides custom discount features, so that you can easily manage all users.
Lower Your Minimum Order Quantity
As a company, you have set a minimum order quantity for the lowest possible purchase a customer can make from you. If you can do so, decreasing the minimum order quantity of your products might open the door to a whole new set of potential customers.
While some businesses could benefit from a reduced minimum order quantity, others would not. For your business, this threshold represents a good starting point. However, this figure might be lowered if there are substantial numbers of prospective clients.
If you cannot lower your minimum order quantity, you could restock inventories for certain customers. Then, so long as customers still purchase the required amount, you can spread out the fulfillment of the order and still meet your minimum revenue target.
Improve Your Landing Page
A landing page is the first page a person sees when visiting your website. However, it also acts as the client’s first introduction to your business.
Make custom landing pages for your advertising campaigns. They will be made only to gather contact information and move potential customers further in the sales process.
So, what features should a good landing page for wholesale customers have? There are three primary factors to think about.
The first step is highlighting the value of your wholesale products and services.
Provide examples from your own social circle as the next step. Wholesale buyers may seek proof that your products or services have helped others just like them.
Calls to action (CTAs) should be used often. The usage of a “purchase now” button or the inclusion of call-to-action links are two examples. The use of calls to action (CTAs) effectively encourages site visitors to take the desired action and stay on your page rather than visiting a competitor’s.
Plan Your Pricing Strategy
In most cases, wholesale prices are substantially less than retail. But, of course, not all potential customers will know this, so explaining it to them will only help.
You won’t have this option with only WooCommerce. However, if you want to add more features to the B2B WooCommerce store, you can use WholesaleX.
Ask Your Existing Wholesale Customers for Referrals
Acquiring new customers by referrals is another viable option. Your current wholesale customers strongly recommend them.
Referrals can be useful since they provide further evidence of trustworthiness. More than 90% of buyers say they put faith in personal recommendations. The stakes are often larger, and trust is a more significant concern in the wholesale business, which might amplify this impact.
The first step is to request referrals from existing, satisfied customers. There is a strong probability of getting this reference if you have a good relationship. Then, you can encourage these customers to purchase more from you by offering them special pricing.
All wholesalers know the struggle of trying to maintain a constant flow of getting customers. Acquiring and maintaining wholesale customers in today’s industry might take a lot of work.
However, there are ways to get a leg up on the competition. It’s about equipping your sales force with the knowledge they need to meet your customers’ requirements. It also involves giving a customized and hassle-free customer experience for them. So with these above mentioned methods, you should get more wholesale customers in no time. Best of Luck!