Running a successful online business, whether it be one that involves expert advice of only one product or service or one with a wide range, means ensuring your own and your employees’ expertise and knowledge are regularly updated and improved upon.
When it comes to wholesale, this requires an entirely new set of skills, and if you are interested in wholesale, then this article is for you.
1The Main Benefits of Entering the Wholesale Market
Whether you have already decided to launch a new and exciting branch of your online company to deal in wholesale or are still at the brainstorming stage, either way, it would be helpful to make yourself aware of the key benefits, which include the following:
- Additional income on a regular basis
- A heightening of your brand awareness and presence online
- Access and entry to additional markets
- Acquisition of new customers and appeal to a wider audience
- Innovative marketing methods and effortless additional promotion
- The expansion of your online business and the increasing profit
2Revamp Your Site to Be Wholesale Friendly Online Business
Particularly appropriate if you are the owner of a smaller online business and store rather than a larger one, you will naturally still want to focus on appealing to private individual customers as well as your new foray into the world of wholesale.
It is much simpler, both for the customer and you, to operate B2C (business to customer) and B2B (business to business) dealings from one place and one website, as long as you clearly mark which area of the site to visit for both types of customers.
3Utilize Inventory Management Software
If you are not already familiar with inventory management software, then this is an area you should definitely look into moving forward.
Basically, inventory management software, and more specifically, online inventory management, is a software system based in the cloud that affords online companies the ability to systematically and logically control both the outward and inward flow of each and every product they stock and sell.
Key advantages of utilizing online inventory management software, especially for those companies interested in moving into wholesale, include:
- Higher and more efficient automation
- Increased levels of company productivity
- Much improved relationships between business-to-business transactions
- Higher level of customer satisfaction and experience
- More satisfied employees who feel more in control
- A more organized company in general
In addition, utilizing leading online inventory management programs will also help reduce your costs.
4Make Your Products the Star
When you are looking at introducing wholesale perfumes and aftershaves from a reputable wholesale supplier, such as directfragrances.online, for example, it becomes substantially easier to ensure your new products stand out, shine, and appeal to a broad range of customer types.
Try and make individual product descriptions more personable, friendly, and even informal than perhaps you currently do, and ensure that each product is photographed in a way that appeals to the eye as well as the mind of a potential consumer.
You could even choose to include funny quips and puns, where appropriate, in the product descriptions.
5Optimize Sales Channels
Another fundamental improvement you are required to make, should you want your wholesale addition to be successful, is to ensure that your sales processes and core channels are optimized across the board.
Remember that there are still more than a few leading national retailers of the brick-and-mortar variety that enable the business customer to choose their products, pay for them, and even sell them on, all within a twenty-four-hour period, and your online company needs to compete with this.
This is why you may well want to start looking into utilizing a reputable and renowned online marketplace with a guaranteed fast turnover or a leading ecommerce platform to help.
6Compose a Flawless Line Sheet
Finally, it is absolutely essential, if you are committed to expanding your online business to include wholesale products, to create an impressively comprehensive and detailed line sheet.
Essentially, a line sheet is a compendium of each individual product you are now going to be offering to wholesale customers with short, snappy, and informative details of each product and brand. The line sheet basically serves as a crib sheet for business-to-business custom and should include several key elements.
A proper line sheet includes your ordering policy, item numbers, the name of the product, photographs of each product, CPT (carriage paid to) information, the materials the product is made from, the wholesale unit price, and the RRP (recommended retail price).