If you’re like a lot of wholesalers or distributors, you’re probably constantly looking for ways to improve and grow your business. However, many businesses actually make numerous mistakes that keep them from succeeding. Here’s what they are and how you can avoid them.
Using Paper or Electronic Forms
If you’re still using paper or electronic order forms, you could be hindering your business. Paper forms are easily lost, and electronic forms aren’t always accessible, especially if they’re in a PDF format or Excel spreadsheet. You and your employees need to be able to access forms on the go and from anywhere. You should be keeping forms on the cloud where they can be accessed easily and quickly.
Not Educating Sales Reps
Most businesses rely on sales reps to sell their products; however, sales reps often aren’t educated enough on what those products are. Sales reps need to know what your products are, how they work, what’s available, and how long it will take to deliver them. Giving them accurate information and access to an updated cloud system can make the difference between making a sale or not.
Focusing on Price
Focusing on your prices might seem like the best business move; however, customers can easily find good deals with the wealth of information that’s online nowadays. Rather than trying to offer the lowest price, which won’t be sustainable long-term, you should focus on customer service. Good customer service will set you apart from your competition, no matter the price.
No Personalization
While many businesses go after their target audience, keep in mind that not all of your customers are the same. It’s a good idea to personalize your promotions, services, and products with these differences in mind. Doing so can increase your sales and build your customer base.
Not Following Trends
Some wholesalers don’t follow consumer trends; however, it’s important to know what consumers want. You can reach new customers and increase your sales if you keep up with what sells and what doesn’t.
Not Using Product Distribution Services
One of the biggest mistakes your business can make is filling orders too slowly. Customers will go elsewhere if they find that they have to wait for their orders. You can also get a lot of bad reviews if your fulfillment services are lacking. Use product distribution services to stay on top of the orders. With product distribution services, you have access to same day or next day delivery, pickup services, after hour delivery, or crane/rigging services. According to the Bureau of Labor Statistics, the U.S. has over five million transportation, warehousing and distribution employees, so take advantage and hire someone to handle your shipping logistics.
Not Building Relationships
Don’t forget to build relationships with your customers. You’ll be more likely to succeed with repeat business, rather than trying to constantly capture new customers.
No Inventory Control
If you have no inventory control, you can be left with inventory excess, damage, loss, theft, and lost sales. Good inventory control can keep you informed so that you’ll know when to reorder stock or when to transfer stock. It can also help you forecast your sales.
If you’re looking for new ways to help your business succeed, try to avoid these common mistakes. Fixing these seemingly simple problems can ensure that you will be in business for years to come.
