When you own a product based business, you are guaranteed to go through lots of ups and downs. There will be periods of strong and steady sales and weeks at a time when you’re struggling to get just one. While the latter is frustrating and can be downright scary, you can use your sales slumps as an opportunity to tweak your strategy and dedicate time to trying something new. In today’s post, I’m sharing 7 strategies to help you grow your wholesale business.
Seek Out Stores That Compliment Your Products
Currently selling cards? While stationery stores are a natural fit think outside the box look to develop different niches. Specialty Grocery stores, hair salons, clothing boutiques and your local florist all offer different opportunities for your product to find a new home. Start researching different businesses that carry products that would be complimented by a product(s) you carry. The best way I’ve found to seek out inspiration? Give yourself a day to go shopping. Simply walking downtown can open your eyes to so many new opportunities!
Partner with Complementary Brands
The same way you’re looking at stores is how you want to partner with brands. Finding another company you can partner with that speaks to a similar audience will open up new doors for everyone. For instance, if you have an organic skincare line your products will probably share an audience with a brand or influencer that is all about clean living. Research companies that feel like a natural fit and brainstorm some ideas about how you BOTH could benefit from partnering up! For instance, contests or giveaways always generate a ton of excitement!
When you have a product based business your blog can help to establish your brand as THE go-to resource in your industry. Your blog helps to build brand awareness while simultaneously boosting your SEO and generating pinnable content. Use it as a platform for you to encourage engagement, educate customers, and build know, like and trust for your business. When you encourage your community to engage with you and your team you not only get people excited because they are being heard but you open the door to learning more about your customers and their spending habits. Curious about what exactly you should be writing about as a product-based business? You should check out this post about Why Your Product Based Biz Needs A Blog
Instagram and Facebook are visual platforms that are perfect for highlighting your amazing products. If you haven’t already, set up your social media profiles. If you’re already on these platforms, how often are you posting? Consistency is key when growing your audience! If I’m interested in a product but see your page hasn’t had any activity on for a few weeks or months I’m going to start wondering if you are still in business. Don’t forget to research relevant hashtags and use them when you post on Instagram to help people find your business and see those amazing products!
Get Creative with Contests
People love to win free goodies! Leverage your social media platforms and email list to provide a seriously kick ass contest to your loyal customers + followers. One tactic that you’re probably familiar with is to encourage your audience to share the contest with their friends for extra chances to win. This is great in helping you gain exposure which can lead to more sales. Have fun + get creative with your contests but remember to keep it simple. You know those loop giveaways on Instagram that require you to follow a gazillion, people? Sorry, it’s just too much. If there are too many steps involved chances are people aren’t going to want to participate or will bail midway through the signup process.
Participate in a Trade Show
Trade shows give you an opportunity to share your products with hundreds or thousands of buyers and retailers over the course of a few days. They are expensive and require months of preparation but they payoff can be HUGE! February kicks off trade show season so you may already be seeing images pop up in your feeds. If you’re thinking about participating in an industry show in the future try to walk one before you sign up to exhibit. Besides experiencing an amazing energy you’ll gain some valuable insights! Want to learn more about trade shows? I’ve got a ton of trade show related content on the blog, but you’re probably going to want to start with this post.
Develop a Referral Program
It’s so amazing when customers sing your praises and give you a glowing review, testimonial or feedback. Leverage their positive experience by developing a special referral program to help get them talking about your product to their friends. Maybe they get a special discount here and there or get the opportunity to view + shop new releases before they are released to the public. Your customers are the core of your business so make them feel special and they will be more likely to share the love!