Wholesalers around the world face similar unique challenges. Unlike other business models, the wholesale industry survives off of repeat business and multi-vendor networking. Traditional solutions for these problems are no longer effective, in a world where the internet dominates all facets of running a business. In order to thrive, wholesalers must take this opportunity to evolve.
As the landscape shifts under their firmly planted feet, wholesalers are presented with specific decisions concerning e-commerce. Online visibility is the key to growth for wholesalers and their business connections. This may be a topic of hesitation for wholesalers who have been doing business offline for years, but change is a good thing. Online solutions will only supplement the efforts you are already implementing.
Challenges Wholesale Businesses Face
Networking in the wholesale industry between vendors has always been a challenge. Trade shows have long been the preferred method to network and discover new products, since the early 1900s. However, long since Amazon launched its first e-commerce store, we have been witness to a digital revolution. Trade shows are no longer a viable way to promote your business and make connections. Even though it has become customary for wholesalers to exhibit at these events, it just doesn’t make sense anymore with the advanced tools at our disposal.
Access to the internet has given wholesalers a free and clear method of advertising and connecting to a global marketplace. Even more so with the prominence of social media platforms, the world is connected deeper, in a way we haven’t seen before. Promoting your business online is the fastest method of creating more business connections.
In addition to the extra costs of trade shows, which can add up to thousands of dollars, the expenses for printing costs are extremely high. In a world where every dollar is useful, being able to save on these costs is a welcome solution. Printing a catalog takes a lot of time and money for something that will almost immediately need to be updated again. The costs for printing catalogs and promotional materials are eliminated completely with online solutions. These extra costs are detrimental to your wholesale business. The online solutions available for wholesalers are easy-to-use and faster than these outdated methods. If you are looking to expand your wholesale business, you must adapt to these changes and embrace a new approach for running your business.
Solutions for Wholesale Businesses
Business Solutions for the challenges wholesale businesses face start with a smart wholesale strategy. The objective of your business should be to create the best possible buying experience for your customers. The visibility of your brand online and the message you promote influences buying decisions immediately. Potential customers are attracted to entertaining, educational, and engaging content. Make sure the content you provide in your promotional materials fits this criteria. This will create the initial interest you need to take the next steps in gaining a new customer.
Providing the best customer service possible is one of the easiest ways to solve problems in business. Improving the way you communicate with your customers will immediately solve unnecessary issues in the buying process. This includes being able to directly communicate with customers. Making your business more available to address questions and concerns will make all the difference to the overall reception of your products. There are many online tools to provide this solution, most notably, social media platforms.
Make sure the researching, ordering, delivering and shipping process is a seamless as it can be for customers. You want your customers to have the most pleasant buying experience, so they will want to return to you the next time they need your products. Retention of customers is the fastest way to increase your sales and meet your profit goals.
Lastly, streamline the efficiency of your operations with some type of inventory management system. Your products are in the spotlight, so make sure you know exactly where they are at all times. At any point during the buying process or in the stockroom, you will benefit more from maintaining an error-free environment. Your customers will notice this efficiency by the limitation of errors as they make purchases. This is important for any business, especially wholesalers, to achieve. A variety of inventory management software exists. Find the one that fits your unique needs and budget requirements.
SeeBiz is the B2B Platform for Wholesalers
SeeBiz is a b2b social networking platform that is designed to benefit wholesalers’ unique needs. The features of this platform include an inventory management system that will boost your business operational efficiency. While tracking, controlling, and managing your inventory you can stay updated on the status of all products and orders from customers. There is also a feature that allows you to manage and organize all customized invoices.
The main benefit of this platform is the ability of your business to stay connected with existing and potential customers. For wholesalers, this networking solution is the key to scaling your wholesale business to a global market. SeeBiz makes networking among vendors easier than traditional networking approaches. Along with the costs of trade shows, this b2b platform also removes the uncertainty of maintaining these important business connections.
Maintaining business connections and developing these relationships is a huge step toward successful customer retention. Repeat business is where wholesalers see a bulk of their profits. Which makes these features very important for wholesalers to utilize. A lack of communication between customers and businesses is the root of most challenges in the industry. With SeeBiz’s communication features you can easily improve communication. You can send direct messages to customers and have instant communication that will address customer service questions or concerns.
You also have the option to post announcements, company news, product updates, or share customer reviews and insights on your newsfeed. This information sharing happens in real-time with all of your existing contacts. SeeBiz helps you connect with more businesses. It also helps you run your business more effectively with solutions that are tailored to the challenges wholesalers face today.
Visit https://seebiz.com to learn more about these business solutions for wholesalers.