Kv International Business & Consulting is a company which apart from providing excellent consulting services, sell goods in large quantities at low price from china to many countries abroad. One of the best-selling products on the platform are mobile phones. The phone that generated a lot of sales in few time these past months is the vkworld Mix Plus 32GB.
After spending months selling phones and accessories we have decided to try wholesaling business because the sales would be much higher and we were selling to a different continent. For an entrepreneur willing to start an e-commerce there are 03 options: buy an existing business, start from scratch or buy into a business opportunity.
Below are the tips that we used and still using when selling that phone. They can be useful to people who are just starting out or plan to do wholesaling.
- Focus: This is one of the most important rule in this business. Researches shown that most wholesale business need to be in business two to five years to start being profitable. “Wholesale distribution is a very large segment of the economy and constitutes about 7 percent of the nation’s GDP,” says Pembroke Consulting Inc.’s Fein. “That said, there are many different sub-segments and industries within the realm of wholesale distribution, and some offer much greater opportunities than others.” .You don’t only need to set daily goals and try to achieve them for 24hr. Experience shown that once a wholesaler focus on achieving its daily objectives, chances of getting great results increase. We were not focusing on selling on that particular phone only but on all the phones independently.
2. Hire the right people: Even with this type of commerce, you need to hire professional and hardworking people. The customer service, the manager, or the marketer should be good enough to sell your products to resellers in the most effective way. In our case, the marketer proposed to hire a freelancer to write an outstanding review on that phone. And that product review worked pretty well and led to good results.
3. Find a reliable wholesale distributor: Another great challenge in the wholesale business. Wholesale distributors are a gold mine in this activity. And even in one of the most strongest economies in the world , you will find many fake sellers. Good distributors are good deals and especially online. When you sell products online, some aspects like delivery or the quality of products are essentials to buyers. If they are not satisfied by the services that you propose they are more likely to write negative feedback in your page . And this is a serious drawback. Try to avoid negative comments as much as possible. This is a great article on this.
4. Sell quality phones/ products: It is obvious that quality phones are valuables In a mobile phone e-commerce. And with a good wholesale distributor chances to sell quality phones are high. In our shop, we make an effort to only deliver phones that consumers will be proud of. We know that through the positive feedback we got.
5. Get testimonials: Testimonials are essentials to any e-commerce business.They can build or break a reputation. People are more likely to purchase a product that other people already bought. Positive reviews are more important than negative ones as they not only increase sales but create customers loyalty and trust. The statistics have shown that 72% of people felt that positive customer reviews made them trust a business more. There will always be negative reviews as not everyone will like your products or services but it’s important to learn how to deal with them and improve the quality of your products and services.
6. Build a strong portfolio: A portfolio is also important in every online business. A great portfolio inspire trust and engagement. If you plan to create positive customer interactions as well as long lasting relationships, then build an awesome portfolio in one of your pages. This is how to build a portfolio that’ll make everyone to contact you.
7. Boost your online marketing strategy: Market, market,market: There are hundreds of e-commerce websites created daily. And one of the biggest challenges that every store owner face is to increase sales. In our case, we decided to promote phones on social media websites only: Facebook and Pinterest. This brought a lot of visitors in our page and we start getting more exposure. It’s important to understand that social media sites like Facebook, are places to build last relationships that lead to sales. Therefore , it can take weeks, months and enough budget to start making sales. There are many other ways to market your store online.
8. Learn to deal: When it comes to wholesaling, rejections are part of the game. A retailer can reject you for many reason:
- They want to discover new opportunities.
- The products are no more good to them.
- They are not making enough profit.
And though it can be frustrating on the first time, if well handled, you can still increase sales.
9. Offer discounts or giveaways: This is always an excellent way to maintain the clientele and attract new customers. Better pricing doesn’t always have to be dropping your prices instantly. No matter how cheap the products or services if you don’t offer something for free, your ad may not convert. In a wholesale business, is easy to offer giveaways and discounts. In fact 96% of consumers use coupons and 92% of consumers always look for a deal when shopping.
If you want to drive revenues and customer loyalty, a good strategy should be put in place. It’s important to understand what customers want even when they are rude. The ability to prioritize strong relationships with the retailers is what makes you a successful wholesale distributor. Much of what it takes to run a successful wholesale distribution business today is the same across online businesses. The tips listed above are of great help for your success online.
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