One challenge we’ve been hearing a lot more about from our wholesale distribution clients in recent months is how they can expand their sales and attract new customers, without having an impact on their existing client base.
Figuring out how you can increase the number of retailers selling your goods to their customers is an activity that requires a great deal of thought – and may require companies to consider changing the way in which they do business.
A key factor will be how organisations can avoid alienating existing customers. It may be the case that they will feel some resentment if they see you acquiring new customers that are targeting the same markets as them. As the wholesale distributor, you are likely to have the advantage of bigger margins, and doing business with their competitors may result in you making a profit when they believe they are losing out on business.
Therefore, it is vitally important for firms to work alongside their customers in order to support their businesses and create an environment that works well for all parties. And the crucial thing that firms need to remember here is that competitive differentiation is not just about offering the best-quality goods at the lowest prices – it’s also about providing a level of service and the latest technology to help achieve this.
This is something that many customers may not be able to achieve on their own – particularly smaller firms that can sometimes find it difficult to put in place the right technology to make it easier to serve customers and sell your products.
For instance, with eCommerce now an increasingly important part of any business, poorly-designed and hard-to-navigate retailer websites can pose a major problem to wholesalers. If an end-user cannot find the product they are looking for due to a lack of advanced search functionality, this can harm both the retailer’s and the distributor’s bottom-line.
As a result, offering the most advanced tools to your customers to help them build their websites and guide their users to your products could be a hugely beneficial step for everyone involved.
To find out more about how the right technology could help you expand your sales, please see our related article “How can NetSuite help wholesale distributors increase their sales whilst supporting their customers?” where we explain how NetSuite‘s features can an allow you to support all of your customers and create an environment that works well for all parties involved.
Alternatively, please don’t hesitate to get in touch with one of our team of experts.
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