Marketing is an essential part of any business, but the way you market your business will vary depending on what kind of business you have. For example, marketing strategies that are effective in brick-and-mortar retail will differ significantly from wholesale marketing strategies. This article will cover eight wholesale marketing strategy ideas that can help boost your sales and improve your bottom line over time.
Networking is essential to a successful wholesale marketing strategy. One way to start networking is by attending trade shows. Trade shows can be expensive and time-consuming, but they give you ample opportunity to network with industry professionals, collect business cards and stay updated on developments in your industry.
You can save money by attending smaller events that still attract like-minded professionals, or you can begin networking now through social media sites like Facebook and LinkedIn. Another benefit of these platforms is that many people will answer questions posted there, so it’s an easy way to get up-to-date information from knowledgeable sources.
Make sure you follow up with those contacts; even if they don’t have what you need right away, their connections might be able to help. And always keep your contact information up to date – don’t forget to include your website!
When building relationships through networking, remember: no one owes you anything! Be friendly, polite and professional at all times. This goes for email correspondence as well as face-to-face interactions.
2) Customer Service/Customer Referrals
Focus on customer service and customer referrals. Allocate some of your time to building personal relationships with your customers because they are your biggest assets when it comes to getting new customers.
Talk to them regularly, follow up with them after-sales, ask them if they know anyone else who would be interested in using your services, etc. Also, ensure you have a solid referral program that rewards customers for sending business your way. This will help you get more clients without spending any money on advertising or other forms of promotion.
3) Social Content Creation
It’s no secret that social media is an excellent way to draw in new leads and customers. It’s essential to begin growing your social network as you build your brand.
The more followers you have on social media sites like Facebook, Twitter, Instagram and Pinterest, the more people will see your content when they browse through their feeds. Create high-quality content relevant to your target audience so they become loyal followers and customers.
4) Specialise in One Type of Industry or Product
No matter what kind of wholesale business you operate, specializing in one type of industry or product allows you to become an expert. This is a major benefit to both you and your customers – and it also positions you as an authoritative voice in your niche, giving potential clients confidence that they’re choosing someone who can really help them.
By chance, you don’t have much experience in your chosen industry or product; you will need to invest time into research.
5) Product/Service Innovation
Another great wholesale marketing strategy idea includes looking at how you can innovate your products and services. You don’t want to just offer something everyone else is already offering; instead, try to figure out what sets you apart from your competitors (and then make sure that shows through in everything from product packaging to customer support). That could mean offering something unique or adding value by providing perks like free shipping, special guarantees, and other bonuses.
6) Use or Wear Your Product
Free marketing at its finest. There’s nothing like showing off a product you believe in. You’ll be surprised at how many people notice and ask about your gear and will take a genuine interest in what it is you love so much.
Remember: If you’re not confident in your product then no-one else will be either.
7) Direct Mail Campaigns
This can be in the form of emails or direct letter box mail
Direct letter box mail campaigns are effective because they give people time to consider their options and your offer before making a decision.
The downside is that they take more time than other forms of marketing, usually at least two weeks from start to finish, but often longer. And if you don’t have a big enough budget for multiple pieces (brochures, letters, envelopes), it may not be worth doing as an ongoing strategy.
You should also know that response rates vary widely depending on what kind of offer you make in your direct mail piece – so make sure you read up on what will work best for your business!
Marketing strategies require testing and a lot of trial and error processes. Not all marketing strategies will work for your business. You need to work through them, identify the ones that work, and focus on optimising them to achieve the best results.