Don’t have the start-up capital to set up a print shop? Don’t worry. You don’t need to create products to sell them to your customers. You can grow a print reseller network for your wholesale print-on-demand business.
While other companies were struggling to gain growth during the pandemic, the print-on-demand industry was growing leap and bounds. Another factor contributing to this growth is the shift from retail business to an online one. People’s buying behavior changed a lot, and eCommerce businesses were forced to adapt to this behavior. Even in the post-pandemic world, now the online shopping trend will stay.
From 2017 to 2020, the print-on-demand industry took a 12% leap. In 2021, it still saw a growth spike, and in 2022, it remained above the pre-pandemic level.
Hence, it’s an opportunity for you to grow your print wholesale business. You can find the gaps in your strategies that were not evident pre-pandemic and try your best to eliminate them. This blog will explain how you can set up your reseller network, what you can do for your resellers, and what they will expect from you.
What is a reseller network?
A print reseller doesn’t directly print the products they sell. They work with a wholesaler who will take wholesale orders for printing products such as banners and posters.
A print reseller network is a channel that acts as an intermediary between the wholesaler and the end consumers, which might be businesses or customers. A reseller network can help you increase your outreach to new consumers. You will be able to access an experienced sales team and grow your brand recognition. At the same time, the reseller will get the commission from selling your products. So, it’s a win-win situation for both of you.
How to manage the reseller network?
The managed print market is forecasted to increase from $28.40 billion to $50.78 billion by 2023, at an 8.5% CAGR between 2017 and 2023.
Thus as a print-on-demand wholesaler, you should be selective about whom you choose to represent your product. Only by finding ones that align with your brand the most can increase your sales, as not all can be good representatives. Below we have explained the criteria to manage your reseller network:
1. Set the right expectations
You must set proper expectations, including quota, total sales, revenue, and deals closed with your resellers. You should come clear with your resellers on all points, like how much percentage they’ll get on selling your products? Will you be giving them any bonuses or incentives?
Setting up a reseller network takes time and resources, so don’t waste them on unworthy ones. The ones who won’t be suitable for your business will automatically back out. So you’ll be left with those who will represent your brand positively.
Also, establish with your resellers that you expect consistent results as you don’t want your sales to decrease over time. Some resellers might give you a good performance early on, but later, they might not perform well.
Set some ground rules on what your resellers can do and not do with your product, as you don’t want a negative representation of your brand. If you set the right expectations, your relationship with your resellers will sail smoothly in the future.
2. Set roles and responsibilities
Every reseller will have its own reselling model. So, you just need to set responsibilities and give control over products to resellers about who will be responsible for reselling what.
Here are some things that you can expect from your resellers:
- Help you expand your business through marketing and sales activities.
- How to effectively manage your reseller network (Print Reseller Web-to-Print Storefront Module).
- Must be customer-focused and deliver actual value to your customers.
- Must be knowledgeable and keep themselves up-to-date with industry trends.
Here are some things your resellers can expect from you:
- Providing quality support and training.
- Providing ready-to-print templates.
- Branded web-to-print storefronts for resellers.
- Growing with Wholesale.
3. Knowing customer data and KPI
Knowing about their past and current customers’ data and Key Performance Indicator (KPI) is a must if you want to choose the best-qualified resellers for you.
You must know how many brands the resellers have interacted with in the past and did any one of them is your competitor? How much sales do the resellers bring per month, and how many brands are they currently working with?
Analyzing this data, you’ll be able to determine how much sales the resellers can bring you on an average basis.
4. Vertical market focus
A vertical market is focused on a specific niche means it targets particular consumers eliminating competition often seen with conventional marketing. In addition, vertical focus produces higher efficiency and reduces production costs as the company doesn’t have to pursue its individual goals.
Hence, if you are running a wholesaler print-on-demand business, it will be incredibly beneficial to build a reseller network focused on a vertical niche. It will have all the clients in the same vertical niche, which means more sales for you.
If a reseller network is serving clients from various verticals, it won’t be able to focus on one niche. Moreover, your products might not match the reseller’s clients’ expectations, so it will reduce your chances of increased sales.
If you are running a wholesaler print-on-demand business and feel that your sales are stagnating, then growing a print reseller network will increase your revenue. You’ll get endless possibilities with a reseller network, such as increasing your brand recognition and reducing competition. While you’ll enjoy increased sales, your resellers will earn a commission from each sale. So, it will be a win-win situation for you.
Resellers can expand your customer base and scale your business so you won’t have to purchase expensive tools and build a system from scratch. With ready-made reseller management tools such as Design’N’Buy, you won’t be required to break your bank to manage the network. So, get started on reseller network management now.
Credit: Source link