Determining Your Revenue Stream
Increased revenue is only unlocked through focusing on your customers. Few things in business remain wholly uniform across every industry, but as long as you have a product, you have a sales flow that requires optimization. Suppliers in the restaurant industry are in an especially advantageous position to increase their revenue. Their clients are seeking long-term relationships and they often order items frequently and in bulk. So how do you qualify your revenue streams? When evaluating your sales strategy, it's important to ask yourselves the following questions:
- Is my number of active clients increasing? Evaluate how you're putting your order catalog in front of potential and existing buyers. Use this data to find out what your most successful channel for increasing active users is, whether it be referral, inbound, social, or others.
- Are my customers transacting more frequently? Frequent transactions mean you've created a "sticky" purchasing experience, meaning your customers see enough value in your service to use it exclusively. This means you're building brand loyalty.
- Is the average size of my customer's transactions increasing? Measuring the average transaction size is a key indicator of how much time they're spending in your catalog. They're spending enough time in your virtual storefront to browse around your catalog and ordering items outside of their normal "grocery" list.
- Are my customers aware of my deals and promotions? Whether you're offering a discount on a hot item or lowering the price of perishable goods that you just want to find a good home, making sure your deals are easy to find is key for moving inventory.
Simply put, to bring in more money to your business, these are the rungs on the ladder that you need to climb. Luckily, all of these performance indicators tend to go hand in hand, which means bolstering one will likely lead to an increase in another.
It all begins at the new customer. More customers means more of your products flying off the shelves. As you know, the cost of customer acquisition can be a little staggering, but that's the cost of doing business. The trick is to find a cheap way of acquiring new business. For suppliers, BlueCart now empowers suppliers to do exactly that.
What Mobile Onboarding Means for Suppliers
This week BlueCart, an online and mobile ordering and CRM platform for the hospitality industry (available on both Apple and Android app stores), released mobile onboarding for suppliers. You're now able to create an account as a supplier on BlueCart's Sales Rep app directly from your phone in just a couple clicks. By tapping into BlueCart's network of 20,000+ restaurants, you're making your business discoverable to an engaged community of buyers.
You can create your entire product catalog in a matter of minutes, then import your contacts to see if any of your customers are already using BlueCart. Boom, you're connected! Just like that you can start receiving and managing all of your orders electronically from your phone. It's a CRM tool that instantaneously brings you and your clients closer together.
As soon as you sign up for the app it allows you to search BlueCart's database and connect with buyers at the click of a button. It's the simplest and most seamless way for your sales reps to conduct buyer outreach. Now that your reps are able to spend less time on administration functions (account set up), more time can be allotted to actual selling. That means shorter sales cycles and more time accosted to acquisition.
Ease of adoption for both suppliers and buyers immensely lowers customer acquisition costs and is essential for realizing a momentous shift in your revenue. For context, This Chick Bakes, a wholesale supplier of baked goods, has found the BlueCart app to be a sales tool for their reps when conducting outreach to potential clients. Not only that, but they've also realized a 60% increase in items ordered since joining BlueCart's platform. More customers, more orders, more revenue. It's all made possible through mobile onboarding for suppliers.
BlueCart also posted a quick demo on how to navigate through their super simple mobile onboarding process.
To get started with your own BlueCart account, you can get signed up in no time right here! To learn more about the suite of products we offer both buyers and suppliers to grow their business and increase revenue, check out our website!