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How To Retain Your Wholesale Customers In 2020

Without your wholesale customers your business would not grow. It’s important to keep them happy and satisfied so they remain loyal to you. So how do you keep your wholesale customers coming back to you in the new year? The last thing you want is for your customers to take their business elsewhere. Provide them with what they need and they won’t go anywhere. Making the sale is not the most important part of your interaction with them. The most important part is how you treat them. 

Focusing on customer service and improving communication are the most essential ways you can keep your wholesale customers coming back. Tweak your sales strategy with one or more of these tips and you will see a difference instantly. Here are a few tips on how to sustain repeat wholesale business. 

The Focus Of Your Marketing Should Be On Value

Promoting content that offers your customers some sort of value has a lot of benefits. Wholesale customers want more than just a company trying to make a sale. They are interested in marketing that gives them some sort of benefit. Customer loyalty can be earned just by offering free information based on your experience. Talk about what you know and your customers will listen. 

It’s easy to do. All you need to do is share the information you know best in your industry. A strategic content marketing plan provides your audience of customers with this type of education. This is also a great place to illustrate how your brand and your products provide solutions for your customers. Build relationships, answer questions, and increase overall engagement with your customers just by opening up a dialogue. 

Restructure Your Email Marketing

If you don’t already, make sure you get all of your customers emails in an organized list. Once you have a list you can contact them about promotions, news, announcements, etc. The email campaign ties back into value-based marketing. Your emails should give them value or a kind of benefit. Personalization is a great first step towards this goal.

Speak directly to your customers and give them a personalized message. Look into what kinds of products they have been purchasing. Keep notes on all of the products they are interested in, or any questions they may have. Use these notes to look back at later and develop an approach. Find a product or something they may be interested in and incorporate this into an email. It takes time to develop successful business relationships, so treat this email list with respect. Don’t send them an email you wouldn’t want to receive. 

Reward Repeat Purchases with Loyalty Promotions 

To increase customer loyalty you can provide your customers with bonuses. This also encourages repeat purchases. You don’t want to copy your competition and use the same reward system they have. This is your chance to spice things up and be creative. Create a loyalty program that matches the interests and tone of your business. 

One way you can do this is by sending new products for them to test out. You can also waive minimum order quantities or offer other bonus service terms. The idea of a loyalty program is to encourage more purchases from your customers. More purchases results in more rewards. As a result, this encourages wholesale brand loyalty.  

This strategy creates an opportunity for you to learn more about your customers too. The more information you gain about your different types of customers, the more you can tailor marketing strategies to attract similar types of businesses. In this way, you can attract the interest of the types of businesses you want to stay connected with. 

You can use this outline of questions to determine how to structure your loyalty program too.
  1. For what should my customers be rewarded? The types of actions you can reward your wholesale customers for are social media sharing, repeat purchases, order quantity, order dollar amount, etc. Decide which type of action your customers will receive a reward for. 
  2. How can they redeem these awards? Be able to process the rewards as fast as possible. Are they receiving online vouchers or coupons?
  3. What types of rewards will be offered? Discounts, gift cards, and free subscriptions are all types of rewards that you can offer your wholesale customers. You may even have a different idea in mind. Be creative with these rewards. 
  4. What are the rules for the loyalty program? Be sure to track and measure the participants in your loyalty program. Make sure the rules are laid out clearly. You also need to be able to manage participants in the program. Loyalty platforms can help with this or a simple customer management system. 

Make It Convenient to Shop With You

Customers today have very high expectations when it comes to making and completing a purchase. Online shopping has provided a standard of ease that all businesses must live up to. The standard is the same for wholesale purchases. E-commerce has made wholesale transactions just as convenient as personal ones. 

Here are a few guidelines to follow for convenience. Your wholesale site should load quickly, be easy to navigate, and purchasing should be hassle-free. Optimize your website navigation and be sure to check your server speed.  A mobile-first approach is essential when developing your website. A majority of your customers use their phones for all purchases, personal and wholesale related. This type of shopping experience should be kept in mind when designing relevant web technology for your business. 

Answering questions 24/7 is impossible for any one person, but technology provides the tools to be there when you can’t. Chatbots and other customer service add-ons are great tools to answer customer questions in real-time. Customers generally expect their questions to be answered in 60 minutes or less. Software solutions like a chatbot can provide quick answers, so customers can finish their shopping quickly while on your site. 

The Ordering Experience Should Be Seamless

Ordering and delivery are just as important as offering promotions and discounts. The actual shopping experience should be quick and seamless. This includes viewing the product, adding it to the shopping cart, paying for products, and checking out. There should be a variety of payment options available. Pay on delivery, paypal, debit, and credit are all accessible options to implement. Make sure the payment options are secure and reliable. 

Delivery options should be clearly communicated and listed. Wholesale customers should know exactly when they should expect their delivery to arrive. There should be no confusion when it comes to delivery. The customer should be able to pick which type of delivery they want from the available options. 

Offer Extra Incentives

Limited time offers can create a personalized relationship with your customers. This strategy includes discounts for specific cases, such as when they buy a variety of products. Be creative and fun with the extra incentives for wholesale customers. Personalization is a great way to stand out from other businesses. Eye-catching campaigns that target your customers specific interests will increase the chances that they continue to buy from your business. Focus your energy on the customers and you will see your sales increase. 

Communication Is the Number One Way to Stay Connected

This point is especially true when it comes to wholesale customers. Increase your customer engagement across the board. Be more active on social media. Make sure you’re answering customer questions and concerns quickly and attentively. This is beneficial for a number of reasons. Asking for feedback about products is a great way to learn more information. Also, implementing the changes your customers wish to see is the best way to acknowledge their suggestions. Valuing their comments will make them feel appreciated and contribute to further brand loyalty.  

In terms of products, you can gauge what customers like and dislike about them. You can learn a lot about nuances. They may even tell you what they wish you sold. The information you gain from customers is crucial for developing new products. Learning about b2b trends can help you to stay on top as an industry leader.

Show Them How to Feature Your Products

The internet is a constant exchange of ideas, products, and information. Why not include your wholesale products in the discussion? Tell your wholesale customers how to share or feature your products online. This helps to improve the online visibility of your business and your relationships with your wholesale customers. Here are a couple ways your loyal wholesale customers can feature your products.

Online Promotions

Just having exposure of your products online will help with wholesale retention. Social media is a fantastic way to share products you love and it’s the easiest to use. Maybe one product in particular stands out to you. Share it with your connections and let them know what you think. This creates exposure to new products. It is also a great way for other wholesale businesses to source products.

Emails and mailing lists to other companies are a different way to create exposure for your brand and products. Again, a simple mention of your affiliated products goes a long way in strengthening business relationships. 

Partnerships

Partner with another company to promote each others products. This helps both businesses by increasing exposure online. In addition, the relationship you have with this wholesaler will get stronger by association. Complementary products are a clever way to do this type of promotion. For example, if you sell toothbrushes and you partner with a company that sells toothpaste. These two products are things that customers are more likely to purchase together. Therefore, partnering will increase sales for both businesses. 

Featuring products with partner companies will help you maximize profits and strengthen these relationships too. It’s a win-win strategy.  

Simplify Your Wholesale Pricing Strategy

Most customers don’t even like things that look complex. If a customer sees a lot of confusing numbers and is unclear of the pricing, then they are less likely to make purchases from you. The entire process and pricing model should be straightforward and simple. Not only does this bring peace of mind to your customers, but your business operations will benefit from this organization. 

Accounting and inventory are also affected by a simpler pricing model. The short story is, always make it easy for your customers to understand. You want your pricing to be easy to understand, so purchases are made more quickly. Your wholesale customers will also appreciate the organization of your product pages in general.  

Samples, Samples, Samples

Include product samples with as many products as you can. This is a great way for customers to test out products to see if they actually like them. Manufacturers use this technique often, because it works. As a customer, when you receive your products, having a little something extra is a bonus. 

Everyone loves free products. This is a great way to share new products you’re trying to promote. Keep in mind the types of products your customers buy and include samples you think they may be interested in too. Chances are that they will definitely be interested in the new products you have to offer. 

Use Online Tools To Your Advantage

There are various platforms and online tools that will help you retain your wholesale customers. One of the most powerful tools for wholesalers is SeeBiz. It is an online platform designed for the b2b industry. This platform allows you to manage your inventory, customer relationships, and your product catalog online. It replaces trade shows and other expensive marketing materials too. 

SeeBiz provides a social media network of businesses just like yours. You can network and improve your operational efficiency all on the same platform. Staying connected with your wholesale customers should be your number one priority. SeeBiz is a great online platform to improve your wholesale customer retention. After all, communication is the key to successful business relationships.  

Overall, the best way to retain wholesale customers is by focusing on the customer. As the new year rolls in, you may want to consider implementing changes based on popular demand and real suggestions. Work with your customers to deliver the best customer experience. Show them you’re listening and you will see the results.  Online wholesalers are more difficult to retain, but these tips will work to improve these relationships. By using one or more of these solutions you will see your online wholesale business start to grow. 

To learn more about how SeeBiz can help you retain your wholesale customers visit: https://www.seebiz.com/.

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