Sales Strategy
5 Essential Steps for Flourishing Brand-Retail Collaborations May 10, 2023 (0 comments)
Montreal, Canada--Wholesale remains a cost-effective approach for customer acquisition compared to direct-to-consumer models. Brands can expand their brick-and-mortar presence while sharing costs with retailers. according to wholesale platform provider, NuOrder, to achieve a successful collaboration between a brand and retailer, follow these five steps:
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1. Assess Retailer Compatibility
Evaluate your brand and competitors to identify suitable retail partners. Consider factors such as price points, categories, and unique selling propositions. Use your B2B e-commerce platform to discover top retailers worldwide.
2. Discover Bestsellers and Trends
Leverage B2B e-commerce data to analyze sales reports, production forecasts, and buyers' insights. Continually identify promising categories and SKUs to present to wholesale clients based on sales performance and trends.
3. Craft a Product Distribution Strategy
Implement a tailored product distribution strategy for different regions, consumer groups, and stores. Use your B2B e-commerce platform to control product visibility and ensure each wholesale account can only access specific SKUs. Offer exclusive products to your most valued wholesale clients to foster investment in your brand.
4. Create Personalized Sales Campaigns
Develop dynamic distribution lists for marketing emails using your B2B e-commerce platform. Collaborate with retailers to create personalized line sheets and sales presentations, increasing the likelihood of successful sales and relationship building.
5. Stay Adaptable and Evolve
Regularly communicate with retailers through meetings, phone calls, and email campaigns. Stay informed about industry changes and adapt your partnerships accordingly. Analyze your accounts quarterly to identify growth opportunities, potential new partners, and partnerships that no longer serve your brand.
Learn more in the article published by NuOrder.