Are you ready to scale your brand beyond Amazon?
Getting into wholesale is a common route for expansion. Private label owners sell their products in bulk to retailers – who then resell the products in their own physical or online stores. Remember – you are not only speaking to your customer now. You are also speaking to wholesale buyers and retailers aka potential partners in business. Like it or not, some changes will have to be made.
B2B marketing is a whole other ballgame – in many ways similar, and in many ways different from B2C. One similarity shared between B2B and B2C is the value of branding. It doesn’t matter whether you’re speaking to a wholesaler or your target customer -good branding will always be a worthwhile investment. The packaging counts – literally – the box, plastic covering, labels and every element in your packaging immediately tells your audience if your product is worthy of their attention. Figuratively – your website, your logo, your marketing collaterals, and every other material that carries your name – is also part of a package that dictates your credibility as a brand.
Let’s say you’ve got your branding down pat – you’ve got a logo, your own brand voice, brand colors, and many other elements that contribute to your brand’s character. Let’s say you’ve invested a good amount of time and money in building a great website and you’ve established a great brand presence on Amazon. These are all wonderful but do you think having all these is enough to convince a retailer to carry your product in their store? If there was anything in your system that you’d have to change, what would it be?
Consider the following:
- Wholesale Pricing – Are your margins wide enough to allow you to be competitive in your wholesale pricing? Take note that the point of buying in bulk is to pay a lower price than retail.
- Volume Capacity – Don’t expect a retail store to order just a few pieces to sell. Do you have the capacity in terms of capital, manpower, and logistics to fulfill large volumes of orders?
- Trade Show Participation – Joining trade shows is a good way of reaching out to potential retailers. Will you be able to join trade shows and meet trade show requirements?
- Is your product a good fit for a retailer to carry in their store? What type of local businesses should you be dealing with?
These did not come from nowhere. All the information we share above was provided to us by Toni Ivey, head of Omeganet Inc. Toni has helped multiple Amazon businesses transition their business into wholesale – and she was recently invited by Amy to join the podcast and share exactly what she does to help them.
Are you ready to go wholesale? There’s one way to find out. Watch below: