Customer expectations are rapidly changing in the B2B wholesale sales and distribution industry. With technological advancements to support an on-demand economy, B2B wholesale customers expect the same level of service as individual B2C consumers. If your B2B wholesale sales business falls behind in efficiency, sales enablement, and customer experience, you risk losing customers and revenue. In this blog post, we will learn about 10 strategies to grow your B2B wholesale sales in 2022. So, let’s begin.

Understanding B2B Wholesale Sales

The B2B wholesale market is a subset of the larger B2B market. In any B2B model, the key partners are the manufacturer-wholesaler and the wholesaler-retailer.

B2B wholesalers sell and market products to a variety of businesses. The purchasing companies can use the products in their operations or resell them at a profit. Transactions in B2B wholesale are heavy due to large order sizes and are accomplished through long-term contracts.

The Benefits of Starting a B2B Wholesale Sales Business

Certainly, there are many benefits of running a B2B wholesale sales business such as:

Effective Ways to Increase Your B2B Wholesale Sales

Growing your B2B wholesale sales is not a cakewalk. However, if you follow the following strategies, you can surely multiply your sales. 

1. Provide Special Offers

You can encourage daily or weekly deals that offer savings in addition to the wholesale discount to encourage retailers to use your B2B wholesale business and move merchandise efficiently and quickly. To encourage large volume orders, you can also offer special discounts to retailers who buy in bulk.

Offering special deals can help you build loyalty among your current customers. Customers are more likely to return to your business if they make multiple purchases.

2. Provide Incentives to Retailers

You can create an incentive program to reward employees who recommend your products in retail establishments. You can also offer a referral program to persuade customers to spread the word about your company to their networks and connections.

3. Make billing, ordering, and shipping a breeze

Implement a strong B2B eCommerce platform and automate the fulfillment process as much as possible to improve purchasing ease, which is critical for conversion and customer retention. Whenever possible, ensure that all interactions with your sales and customer service representatives are reflected in your site's customer profile and personalized pricing. You can also create a mobile app where retailers can access customized information to encourage them to order from you whenever and wherever they need it.

4. Provide timely shipping and delivery.

A retailer may lose money if a product is out of stock. Customers will be more likely to order from you if you provide free expedited shipping.

You'll also want to ensure that product demand is accurately forecasted so that you can plan production and avoid delivery delays, which can harm the trust and relationships you've built with your customers and make them less likely to order from you again.

5. Attract new wholesale customers with Special Offers

When retailers conduct online product research and come across your website, you can capture leads by providing a one-time special (e.g., a discount or free shipping) for their first purchase to entice them to place an order. You can magnify the sense of urgency by making this a limited-time offer in order to entice prospects to place an order right away. After they've purchased something from you, they're more likely to return and place another order.

Whether online or offline, ensure that your customers receive assistance when and where they require it. Teach your sales and customer service representatives to interact with customers in a friendly and professional manner, while giving them the authority to make decisions that put the customer first.

A single purchase by a customer is wonderful, but did you know that by simply recommending related products on your website, you can entice them to buy more? This method is typically used by retailers, but it can also be very effective for wholesalers.

Offering wholesale packages and discounts to retailers can also encourage them to try out new related products. Several eCommerce platforms employ this strategy. They provide related products on the product page as well as at the checkout, making it easier for customers to find related products and thus increasing the likelihood of wholesale purchase.

It is common knowledge that businesses with properly aligned sales and marketing functions outperform those with poor marketing. This is due to the fact that effective marketing campaigns can help you generate buzz, attract new customers, and retain existing ones, all of which contribute to an increase in sales.

Spend time and effort on your marketing campaigns, but make sure you cover all customer touchpoints. Yes, content is important, but so are aesthetics. With appealing digital marketing campaigns, you can engage your B2B customers. In all of your campaigns, make sure to highlight your brand's name, include sharp copy, and have a clear call to action.

It is all about knowing the right people in business. Remember that your buyers have their own networks, which you can greatly benefit from. Make the most of your buyers' networks by providing incentives for referrals in the form of special discounts. This allows you to access a large number of wholesale connections.

Indeed, this referral strategy is widely used because it is effective (people love free stuff!). 

If you have been in business for some time, you probably know about the 80/20 rule, which states that your top 20% of customers roughly produce 80% of your revenue. In addition to providing discounts and promotions to all of your customers, it's a good idea to separate your top customers from the rest of your customers and strengthen your relationship with them through special offers. These include—but are not limited to—gifts and free samples of new products, relaxed minimum order requirements; free and/or express shipping, special discounts; and more.

Growing your B2B wholesale business is no rocket science. However, if you are looking for the leading B2B wholesaler in India, look no further than LOTS Wholesale Solutions, which offers a one-stop-shop solution for all its customers.

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