Achieving your sales goals is always complicated but turning other companies into your clients and selling to them implies additional obstacles. The competition in the business-to-business (B2B) market is greater and the pools of potential clients are much more limited. On top of reaching your goals, some of the challenges that come with B2B wholesale sales include identifying the decision makers, listening to their problems, offering solutions, meeting deadlines, and studying the products in depth.
Unlike business-to-consumer (B2C) sales, where consumers often buy based on emotion, in the B2-B market purchases are much more rational. Read these five useful strategies to help your B2B business make more sales and close more deals.
1. Take Advantage of Technology
Today, the business technology options are incredible. You can find software solutions for any function in your company. Choosing the right option for your needs and finding the right combination of business software programs can help you run your business more efficiently, increase sales, improve customer service, increase customer retention, improve employee satisfaction and so much more. For example, you can invest in software to elevate your internal communication, perfect your marketing strategy, improve customer experience, and, you can also find software to help you increase your wholesale sales.
You could also benefit from a B2B wholesale platform that can help you find partners, and manage sales. If you have a clothing brand, for instance, you can invest in a platform used by reliable retailers, and start increasing your sales right away. Such systems can help you retain more customers since they will make the process of ordering, billing, and shipping easier, and also avoid possible mistakes like delays and backorders.
2. Make Sure Retailers Sell Your Products
The more retailers sell your products the more they will want to buy from you. One way to increase B2B wholesale sales is to make sure that your products are sold to customers. You can encourage retail employees to recommend your products to customers by offering them some kind of reward. These types of incentives are a great investment since they have been shown to increase sales significantly.
You can also ask customers to tell others about your company, and you can encourage them by offering a referral program. Getting rewards for spreading the word about your products is one of the best incentives, and can be very effective in your efforts to increase sales.
3. Identify the Decision Makers Within the Company
As a wholesale B2B company, you know that not every employee has the same capacity to purchase your products. This is why you have to define the positions of the decision makers within a company and all of the phases included in the sales process. You should also try to build a profile of your buyer persona, identifying their characteristics, which will ultimately help you build a strategy to convince them to purchase the products from you.
4. Improve Client Satisfaction
Even though your clients are other businesses, don’t forget that you are dealing with people. So, just like any B2C business, you must invest in offering the best possible customer experience. To increase your B2B wholesale sales you should start measuring and controlling the level of satisfaction expressed by your clients. That way you will be able to find out what you are doing right and identify any weak points. Based on those findings you will be able to optimize your strategy and improve.
Always keep in mind that customer loyalty is critical for your strategy to sell to other businesses. This is why you have to find ways to encourage it. You can do this by offering deals, making sure that the sales process is seamless, delivering on time, always providing accurate information, and so on. And remember that satisfied customers attract new prospects and business opportunities.
5. Offer Good Deals
Offering deals is one of the most common ways to increase sales regardless of the type of business you are running. As a wholesales B2B business owner, to attract more clients and sell more, aside from offering wholesale discounts, you can start offering your retail clients attractive special deals. They will also help you build loyalty and ensure that your clients will keep returning.
It’s clear by now that selling products or services to other companies isn’t simple at all. This makes increasing wholesale sales a real challenge. But while there isn’t one secret formula to optimize your tactics and ensure profitability, it’s not impossible.
If you find a way to reach more potential clients and communicate with existing ones better, you will improve your chances to succeed in this endeavor. And following these five strategies is a great way to achieve your goals, and run a very successful business.