Running a successful reselling business is all about the customers. It doesn’t matter how good your products are, how diverse your range is, or even how comparatively cheap your products are selling for – if your customers do not have an incentive to buy from you, your business is going to fail.
The key word here is incentive. There are many ways to incentivise consumers to buy from your business, but in 2023, one of the most crucial is consumer trust. According to a recent study, 59% of consumers lack trust in retailers, and for the brands they do trust, 7 out of 10 will buy more from them than the ones that they don’t.
Formulating that trust, then, could be the difference between running a successful reseller business and running a business that fails after the first six months. With this in mind, here are 5 of the most crucial ways to earn consumer trust as a reseller and why they are so important:
Tell Them Why You’re Selling
One of the mistakes that resellers make is failing to formulate a clear story and purpose behind their brand. For some, this is seen as a trait of businesses selling their products directly to consumers – but every business should have awhy. A faceless business is a business that is easy to mistrust, so share your why with customers and help them get on board with your story.
Find A Reseller Incentive Programme
Market-leading reseller incentives can be a great way to engage your customers and ensure their loyalty while also gleaning more information on what they like and what they want your business to do moving forward. For many consumers, a rewards scheme is a promise from your company to give back and thank them for their continued support, so make sure you have one in place and incentivise them to stick around.
Get On The Customers Level
Consumer trust is all about being open, transparent, and honest. The best way to achieve this in 2023 is through social media. Having multiple social media platforms is a way to get on your customers’ level – becoming part of their club rather than being an outsider. As mentioned before, it’s a simple fact that fewer consumer trust retailers these days. There’s nothing you can do about that. But what you can do is urge them to trust you by sharing transparent, engaging content and connecting with them on their own turf.
Managing unhappy customers – Product Management
Recognise And Share Reviews
While 59% of consumers lack trust in retailers, a massive 88% of consumers trust word of mouth, which means you have got to capitalise on each review that you get. If you recognise and share the good reviews, more potential customers will immediately become aware of your company in a positive light – and through someone else’s words other than your own. As well as this, try to interact with the reviews, recognise the good ones and the not-so-good ones and show customers that you are invested in making their experience as good as possible.
Keep Diversifying Your Range
Lastly, as a reseller, it is important to diversify your range depending on what customers want to buy. The good thing about being in this industry is that you can buy products for your inventory as and when the orders come in, meaning you will not waste any finances on a stockpile of products that aren’t going to shift.
But that’s not the only benefit. If you listen to your customer feedback and stay connected to the general conversation, your customers will see that you are proactive as a business and committed to giving them what they want. A business that is clearly staying up to date with the trends is a business that cares about what its customers are saying, and this can be another little tick in the list of reasons your customers should trust you.
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