Common Wholesale Pitfalls You’re Ignoring
Two important phrases you always need to keep in mind as a wholesaler is that efficiency is king and time is money. Any aspect that can help you improve your business in these areas shouldn’t be ignored no matter how small it is. A lot of wholesalers are making the mistake of handling their business processes the manual way not knowing that it’s costing them a lot of money and is affecting the performance of their business in general.
They don’t really bother to review their sales process and ask themselves what they can do to improve their system, if you operate your business that way you’ll end up with low outputs and your sales reps will be less productive. In this article we share some pitfalls most wholesalers ignore when running their business, it’s high time to fix these mistakes if you really want to run a successful wholesale business.
Not having access to inventory data
If you really want your sales reps to close more deals fast you have to make sure you’re giving them access to inventory data, sales reps are out on the field without having access to customer’s history data, and inventory level or any other insight that might help them understand the prospect better so as to increase chances of closing the deal. Eventually they’ll end up selling products that are not even available in your store and hence you might need to cancel the order or you have to make your customers wait longer before you get the products in stock.
Providing your sales reps with all the inventory data they need will solve all these problems, you have to use sales app if you want to achieve this, it’s not easy for reps or your customers to go through a lot of paperwork when looking for certain info, and also you don’t want your reps to keep calling back office in order to get some information.
Using printed catalogs – a cumbersome process
In this modern age a lot of wholesale businesses are carrying around heavy bags filled with a lot of paperwork instead of using portable mobile devices that can store any information and will be available to you at your disposal. Printed catalogs take a lot of time before they’re updated and when there is an error or update needed it will affect all printed papers, which will cost your business a lot of money. Also printed catalogs are difficult to navigate plus it’s not an easy task for customers to go through all the bulky pages in order to find the information they’re looking for. You’re doing a huge mistake if you’re still printing your product catalog on a piece of paper because you’re spending a lot of money on it.
Taking orders manually
You’ll be losing a lot of sales if you’re still taking orders traditional way, it’s very inefficient, time consuming and makes you look unprofessional. When you visit trade shows and you have multiple orders to take care of, no one will join the queue just to order your products, that’s why you have to make it as fast as possible and the best way to do that is by using modern order management apps that allow you to take orders efficiently or where your customers can even place the order by themselves.
If possible you should set up online order system that allow customers to place orders from any location, you don’t need to be around to take orders from customers if you set up effective online payment processor, first an invoice will be automatically generated so that they can view their order details and then they’ll be taken to a page that allow them to insert their payment details, immediately after placing the order, a receipt will be automatically generated and sent to their email. All shipping details and other info will be sent automatically to the department in charge of receiving their order details.
These are some of the major pitfalls most wholesalers ignore in their business, these few things alone when fixed will help your business save time and money, your sales reps will become more productive which will help them close more numbers within a short period of time. Take some time and review your sales process so that you can come up with ways to improve efficiency.