What Does Limit Mean On A On-Line Stock Buy Request How To Retain Wholesale Customers

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How To Retain Wholesale Customers

Retaining wholesale customers is just as important, if not more important, than finding new wholesale customers. Think about the time and money you need to spend to attract a potential customer, and then the task of getting them to buy products from your company. If you make an effort to retain the customers you work with, you will save money and time that would otherwise be spent on advertising and calling retailers. A repeat wholesale customer will be inclined to buy from you because they are already familiar with your product line and satisfied with your level of service. The following tips will help you retain more customers.

Tip #1

Offer flexibility and choice to your buyers. The easier it is for someone to order products from you, the more likely they are to buy from you. You should have both a brick-and-mortar warehouse and a wholesale website through which orders can be placed. Some retailers will be more comfortable talking to a person before buying stock for their stores, while others are so pressed for time that they limit all order-related communication to email.

Tip #2

Focus on the long-term value of your customers. For example, if a clothing store places monthly dress orders with you and their average order is $500, their annual lifetime value is $6,000. So instead of just focusing on the $500 order, keep in mind how much they will spend with you in the future. By understanding the long-term value of their business, you will be motivated to go the extra mile to provide them with quality service. It goes without saying that retailers, flea market sellers, and eBay sellers should feel grateful, regardless of their purchasing power.

Council No. 3

Make sure your salespeople appreciate the business your wholesale customers are offering you. You can achieve this by compensating your sellers for the volume of wholesale items they sell. A commission-based pay structure will motivate them not only to make sales, but also to keep customers happy so they keep ordering.

Council No. 4

Address and resolve issues promptly. This doesn’t mean you have to cater to every customer’s whim, but it does mean you have to show buyers that you’re working to solve problems that matter to them. If the shipment was sent to the wrong store and you have corrected the problem, call and email to make sure they received the item. Often the customer will appreciate your work even if the resolution is not perfect.

Council No. 5

Indulge your customers with extra bonuses. For example, run promotions like a 5% bonus on all orders placed during a certain week, or surprise your best customers by adding free products to their boxes on closing. When a customer comes to visit your salon, show your appreciation by serving them snacks and drinks. It’s important to treat your customers as people first and buyers second, since most small business transactions are influenced by the quality of the social relationships between suppliers and intermediaries.

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