eCommerce is the key to unlocking a new segment of your target audience. Here’s how you can leverage it to increase the sales of your wholesale business.
Slowly but surely, eCommerce is taking over traditional marketplaces the world over. The number of digital buyers worldwide has already crossed the 2 billion mark, and the figure is growing rapidly.
Image via Statista
The COVID-19 pandemic has further accelerated this trend as widespread curbs meant that people couldn’t step out to make purchases. In fact, it's estimated that 10 years' growth in eCommerce happened in just 3 months. And this has not only affected B2C businesses but also B2B ones, like wholesale businesses, which have been relatively slow in adopting eCommerce.
Most B2B seller interactions have now moved online. And customers prefer this too. Nearly 70-80% of customers say that they prefer digital self-service or remote interactions.
And guess what?
They’re also willing to spend large sums on eCommerce purchases, which is perfect for wholesale businesses. About 15% of B2B decision-makers are willing to spend well over $1 million for a new product or service online.
So, as the owner of a wholesale business, you need to leverage eCommerce and unlock its potential to grow your revenue and sales.
And to help you maximize your eCommerce sales, we’ve put together this guide.
Let’s dive right in.
Methods to Boost Your eCommerce Sales
Here are some of the best ways through which you can skyrocket your eCommerce sales.
1. Offer Flexible Payments
Typically, wholesale purchases tend to cost a lot. As a result, the payment method that you offer can play a major role in determining your sales.
For instance, it might be challenging for the buyer to pay you the entire payment upfront in some situations. In such cases, they may choose to do business with someone else who may offer better payment terms.
To avoid such undesirable loss of clients, you should offer flexible payment options. One such option is that of leveraging the “Buy Now, Pay Later” model offered by Credit Key.
Image via Credit Key
This payment model allows you to receive the entire payment within days. On the other hand, the buyer will be provided the option to pay the amount in 30 days at 0% or within 12 months at a nominal rate. Credit Key assumes all the risk and pre-qualifies and approves the line of credit for your existing customers too.
And how does this help with your sales, you ask?
Customers who’d be reconsidering doing business with you due to your payment model may choose to instead due to the flexibility offered.
In fact, businesses that have used Credit Key as a payment method have experienced a 371% growth in sales over those who used credit cards.
For example, Telstraight International, a globally trusted Cisco reseller, has added Credit Key as one of its payment options.
2. Make Ordering Easier
When you’re launching an eCommerce platform, you must pay special attention to the ordering process. Your goal should be to make this process as short and simple as possible.
Any unnecessary step can put off your buyers, and this could mean a potential loss of sales. They should be able to reach the desired product or service page and checkout with minimal effort and few clicks. The last thing you’d want is a customer bouncing away from your eCommerce portal because they couldn’t find what they were looking for.
3. Provide Stellar Customer Service
Yet another thing that plays a major role in helping your wholesale business drive sales is the customer service you offer.
Often, potential customers might have some questions regarding your product, service, or business. Without those questions being addressed, they’d likely not buy from you.
It’s thus crucial to answer these questions at the earliest. You should offer different ways for them to get in touch with you, such as live chat, phone, and email. Live chat is a great option as you’d be able to answer their questions in real-time through it.
Providing them good service isn’t enough; you should also personalize it. Make sure you store relevant information about the customer so that you can offer personalized recommendations and service at a later stage and boost recurring revenue.
4. Optimize Your Product and Service Pages
Your product and service pages are the ones that will convince the prospects to buy from you. It’s thus critical to ensure that these pages are well-optimized. They must contain the following:
- Images or videos of the product/service
- Detailed description
- Pricing and shipping information
- Frequently asked questions
The idea is to provide all the relevant information that prospects would need before choosing to buy your product or service.
Additionally, you can add your target keywords to the page’s content to help the page rank higher in search results. This SEO (Search Engine Optimization) boost will help you drive more traffic to the page, which, in turn, could lead to greater conversions.
eCommerce is a great channel for driving your sales and revenues. While it used to be an option in the past, you can’t afford to stay away from it any longer. To boost the sales of your wholesale eCommerce store, you should optimize your product or service pages, make ordering easier, and also provide stellar service.
Offering flexible payment methods can also play a major role in helping you drive your sales. So, add the Buy Now Pay Later option to your eCommerce platform with Credit Key. Get in touch with us for a free demo today.