What Is a Wholesale Marketing Strategy?
A wholesale distributor requires a consistent number of customers to buy products, because having return customers keeps the business running. That said, it is important that a wholesale distributor also acquire new customers at the same time so that their small business can grow. While this may seem like standard advice, a business’ specialty and industry trends can affect a business owner’s ability to draw in new customers. This is why is it important to have a smart wholesale marketing strategy. Investing in a wholesale marketing strategy, though not an instant solution, can help a business attract more customers in the long run. Over time, this leads to consistently strong and improved sales.
When a business owner creates a wholesale marketing plan, he or she should focus on a few smaller tactics that together constitute a consistent strategy.
How to Create a Successful Wholesale Marketing Strategy
Be Active on Social Media
There are endless ways to use social media platforms to reach target customers. For example, a business owner can post content on their social media sites, such as LinkedIn, Facebook, and Instagram. These organic posts should include the following kinds of information:
- Limited time offers
- Information about the wholesale product
- Open job postings
- Relevant industry articles
- Customer service information
A business owner can also join or create social media groups, such as those on Facebook or LinkedIn. Here, a business owner can connect with wholesale suppliers, retailers, and others in his or her target consumer base. This will not only help a business owner find new customers, but also network with other professionals in his or her field.
If a business owner has money devoted to paid social media posts, then they can invest in sponsored posts. With this content, a business owner can target particular demographics, such as geographic location, age, and occupation.
It is important to remember that marketing takes time. However, by collecting information about current customers’ needs and interests, a business owner can make ling-term investments in their wholesale business.
Example: Loretta is the owner of a jewelry wholesaler, where she distributes gems, wire, and tools to smaller jewelers. Because Loretta has a hard time with advertising in the digital age, she asks her daughter, Claudia, to help her set up social media profiles. With Claudia’s help, Loretta starts an Instagram page where she advertises her products. Word spreads about the quality of Loretta’s jewelry. Claudia then helps her mother set up a Facebook page where she can offer special deals for new customers. Loretta’s business booms as a result of her online marketing.
Similar to joining groups on social media, a business owner can start a website to give customers information about his or her wholesale products. When putting together a company website, a business owner should make sure that the content, design, and navigation is representative of his or her brand. If the owner or their employees is not familiar with web design, then it may be worthwhile to hire a designer using the marketing budget.
Below are a few suggestions regarding the pages and features that should be included on a company website:
- Product pages: A business owner should include pages where he or she lists wholesale prices, pictures, and reviews of the items that are for sale. Also, it may be a good idea to give visitors to the website a place to order items through the site.
- Contact information: It should be easy for customers to contact the company. This page should include phone numbers, email addresses, and links to social media profiles.
- “About Us” page: Because most customers want to feel a connection to the companies they buy from, it may be a good idea to have a page devoted to telling the story of the company. Here, a business can relate its values and mission.
- Email Subscription CTA: A business can consider having a subscription CTA on its website to collect visitors’ emails. This way, the business can send out newsletters and special offers.
Example: Brandon is a wholesaler who sells paint to various hardware stores. Recently, he has had customers ask whether they can order from his website. Unfortunately, Brandon does not have one. Worried about losing interested customers, Brandon hires a web designer to create a website for his business. On his product pages, he provides the ability to buy paint direct from the website. He is also sure to include an “About Us” page, where he describes his childhood painting houses and fences in his neighborhood. Customers appreciate this personal touch, and they enjoy the ease of purchasing paint in bulk from Brandon’s well-designed website.
To be successful, marketing should be as personal as possible. With the Internet, the best method to personalize a message is to use email marketing.
Advertising in a local area is also a great way to connect with and attract one’s target audience. For instance, one may consider the following strategies:
- Cold calling/cold emailing
- Attending industry trade shows
- List the business in an industry directory
- Place ads in local newspapers
- Send Direct Mail to Retailers
Direct mail is a classic wholesale marketing strategy, and it remains popular even in today’s technologically advanced society. However, it is important to send direct mail to specific office addresses so that the advertisement reaches the intended customers.
- Ask A Business Lawyers for Referrals
Many businesses have hired business lawyers and corporate lawyers to help business startups, avoid employment law violations and litigation. Therefore, contact a California business lawyer and ask for referrals. Business owners like to do business with other businesses when there are mutual connections like business attorneys.
Smart marketing strategies are critical for the wholesale business owner. By choosing ideas that fit one’s brand, a wholesaler can construct a successful marketing plan that attracts their ideal customers.