This Post is part of the “FREE Wholesale Training Course”. You can view the entire course listing and introduction to the course here.
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Module 3: Value Propositions
- Introduction to value propositions
- Defining value propositions
- Building a company website
- Building social media accounts
- Other Marketplaces / International
- Bundling products on Amazon
- Creating New Listings and Listing Optimization
- Paid advertising (PPC)
- Other value proposition ideas
You can click on each of the links above to go directly to the area of the module the best interests you. That being said, lets get right into the content!
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Other Value Proposition Ideas
We’ve already gone over a lot of value proposition ideas. How about a few more?
- Building email lists for the product demographic. When you are selling products in a specific niche, you can start to build a mailing list of potential customers by offering giveaways and other lead generation methods. This email list can be used for many reasons to support brands, including…
- Reviews. When you have an email list, you can blast new products to existing customers. This allows you to gain additional reviews for products.
- Building an E-commerce store. This one is a no brainer, and it’s not that hard to setup. Creating your own e-commerce store can potentially generate a lot of extra sales, and is a huge value proposition for brands. If you want to start your own e-commerce store, Shopify has put together a good getting started guide.
- Brick and Mortar Distribution. One of the hardest objections to overcome from brand owners is “we only want Brick and Mortar stores”. What if you could deliver them more brick and mortar locations? Find some products in the same niche in your inventory, and find small businesses you can potentially wholesale products to. If you can give them a slightly better price then they are getting currently, you may be able to turn them into a client. It’s possible you may be able to introduce them to new products, which can give you a bigger reach.
- Have your own Brick and Mortar Location. I’ve heard of sellers putting up “sham” stores, so they can land wholesale customers. Don’t do it! It will come back to you at some point. You can have a small local location where your products are for sale. Staff it with the administrative person for your business. That way, in between any customers that happen to come in, they can work on administrative tasks.
- MAP monitoring. There are many companies that already have MAP monitoring software. Get yourself an account, and add products that have MAP pricing. Setup the alerts to come to you. When the alerts come in, pass along the information to the suppliers. Here’s a few companies that do this type of work: Trade Vitality, Oris Intelligence, Teikametrics, Market Track, and Search Monitor.
- Filtering incoming online sales leads. A brand owner might receive new sales leads on a daily basis. How many of those are other Amazon sellers? Quite a few. Offer to filter the inbound leads to save their sales reps time. You can pre-filter the leads to find out if they are Amazon sellers. If they are, politely decline their invitation for an account. If they aren’t, pass along the lead to the brand owner.
- Cleaning up their distribution leaks. This is probably one of the hardest, because it involves having a brand owner make some internal changes to the way they vet and control retailers that sell their product. You would need to help them identify where their distribution leaks are, and recommend solutions for cleaning up those leaks. “Distribution leaks” are otherwise known as product ending up in sellers hands where the brand owner has no clue who they are.
- Buying large quantities of product. If you have a good amount of working capital, money can talk. Brands sometimes need to move product quickly for one reason or another. You can usually get amazing deals when you can buy 5,000 or 10,000 units of a product. This helps the brand out, because it frees up working capital for them.
- Giving marketing advice. You can visit their website, and see if their website needs some help. Maybe you can help them get their website redesigned? How about helping them with Google Adwords advice? Think of anything you can do to try and increase their sales, without the expectation it will benefit you. These type of things can help you land exclusives with brand owners.
As you talk to brand owners about their problems, you may see even more services they need. You can uniquely position yourself to solve all those problems for them.
This concludes Module 3! I hope you’ve gained some golden nuggets of knowledge from this module. Now, it’s time for Module 4 – Wholesale Research.
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