At the heart of every business is the relationship with the customer. Without customers, there is no income and without an income there is no business. While gaining new customers is exciting and adds value to your business, brands often forget the huge growth value of their current customers. This is essential as businesses have a much higher probability of selling to an existing customer than to a new customer.
Follow the three basic principles below to make the most of your relationship with your B2B customers.
1. Sell-Through is just as important as Sell-In
As soon as a new customer signs up, don't just move on to the next. Take time to learn about your customers so that you are able to provide considered recommendations about your product lines. Examine the products they sell and create a customized linesheet with details ideal for their particular store. The main aim goal of any new relationship is a long-term partnership.
2. Empower your retailers with data
Data is everywhere we look nowadays and the wholesale world is no exception. Retailers want to buy that which they know will sell in their stores, without having to resort to guesswork. Use the B2B platform to export certain high level data which you can share with your customers to give them an idea of your brand. By choosing the best-selling products, the retailers will feel compelled to place an order so as not to miss out. This will also instill a sense of trust.
3. Merchandise your collections
Over the past year, B2B relationships have become more collaborative than ever. Retailers expect personalized linesheets customized with their preferences and individual presentations from the brands they work with. Merchandising products is key for any collaborative relationship. Demonstrate how your collection works together and how your products can be sold to help the retailers present their products in their stores. Not only does this allow retailers to envisage how your collection works, but it allows you to sell deeper into your collection.
So, just be sure to take advantage of all the tools available on the B2B platform. Above all, a satisfied customer means more business and we all know what more business means!
