Working as a fledgling ecommerce vendor is a tough, yet rewarding job. It puts you in the middle of everything and forces you to become an expert in multiple fields. Today you might be working as a social media marketer, tomorrow you’ll be a customer service rep.
The bottom line is no two days are the same for an ecommerce small business owner. And, many things need to be learned on the job. As you can imagine, problems will spiral out of control if not managed properly.
Let’s say you bought tons of goods in preparation for the holiday rush. While a lot of products flew off the proverbial shelves, other items were left to consume space in your storage facility. What’s a vendor to do?
Here are a few tips to help you unload that holiday inventory backlog.
Get Onboard with Bundle Deals. Did you stock up on cosmetics ahead of Black Friday and Cyber Monday only to find yourself stuck with boxes of unused goods? Luckily, these products are easy to unload through creative bundling deals.
Mix and match unsold products into attractive packages then market the bundles: “Get what you really wanted for Christmas. Try out five makeup items for only $9.99.” It’s a fun way to rid your shelves of excess goods, while delighting your customer base.
Use Sales Incentives. Another idea is to offer hot sales on clearance items. Done properly, rather than unloading unwanted merchandise, you’ll be re-engaging shoppers after the holiday rush.
One of the best ways to do this is through email marketing. Send your email subscribers exclusive coupon deals to get deep discounts on clearance goods. Try making the offers time sensitive to boost sales and quickly clear leftover products.
Embrace Affiliate Marketing. You might be wondering why you would leverage an affiliate e-store when you’ve already invested in ecommerce solutions for your small business. Affiliate marketing can help you reach customers you wouldn’t see otherwise. If your new line of children’s toys isn’t selling on your website, partnering with a friendly e-store specializing in toys could help move your merchandise.
Keep in mind though, this is a two-way street. You might be contacted by another online merchant wanting to sell their complementary products on your site. This is a win-win for your ecommerce store. Not only are you turning a profit when you wouldn’t otherwise, you are also building relationships with other vendors.
Host a Social Media Giveaway. It’s not always about making money. Sometimes ecommerce is about generating excitement. And a great way to do this is through social media giveaways.
- Asking your Facebook or Instagram followers to spread the word about your store: “Tag three friends for a chance to win this mystery goodie bag!”
- Urging your buyers to post images of themselves using your products: “Love free stuff? Post an image of yourself wearing our clothing for a chance to win big!”
- Coaxing your followers to talk about their favorite items: “Name the top three items on your wish list for a chance to win this gift set!”
These are just a few suggestions. There are literally dozens of other possibilities. The key is to insist upon consumer engagement. Sure, you are giving out goods for free, but you are also gaining clout with your audience.
Follow these tips and you’ll be sure to clear out your storage area for next season’s products and wares!