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Driving sales for underperforming products and services can be a tough task. These products and/or services need additional tactics to help it perform and this is where scarcity marketing. This technique helps move sales for these items based on their rarity. With things so readily available to consumers through online shopping, more and more consumers find value in things that feel more exclusive. So here are several useful tactics for scarcity marketing for your small online business.
Establish Product Availability It is important to let your consumers know how many items are still available for purchase. The point of this tactic is to establish a sense of urgency to influence consumers to purchase this product or service as soon as possible. If there are only three items left in stock, set an alert on your webpage to let customers know. Limited Edition & Seasonal Products Another way to establish a sense of urgency for products is to create special collections. These are products with limited quantity and will not be replenish them once they are sold out. This makes the product feel rare and exclusive which entices potential customers. Seasonal collections are also effective that may only come out during a certain time of year. Pre-Sale Offers Creating a pre-sale offer for exclusive products brings a sense of excitement for potential customers. It can also gauge the demand for your product and bring in sales before the launch. This is also an effective way to show other consumers the high demand for your business as well. Out-of-Stock Alerts & Low Stock Notices When your items are out of stock, let your customers set alerts to know when an item is available again. Also let your consumers know when you are products are low in stock so they are more enticed to make a purchase before the item becomes sold out. This keeps a relationship between the consumer to come back for either the same item or perhaps another. Exclusive Discounts Customers love discounts and they love exclusive ones even more. You can do this by rewarding loyal customers as a follow-up from a purchase, signing up for your newsletter, and following your business on social media. Flash sales are also a good tactic to use as an exclusive short-term sale to attract attention to products as well. If you have a physical storefront, you can hand out invites to in-store patrons who make a purchase.
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Consumers are always on their phones so it is vital for any business to develop marketing strategies that target their audience through their devices. Outside of social media, the main thing many users do on their phone is text. For millennial and Gen Z users, communication via texting is more popular and convenient than talking over the phone. Many of these users do not have a landline so they are always on their phone, receiving and sending out messages. It is common now for many brands to use text messaging to communicate with consumers whether it is updates, discounts codes, or customer service. It is a very simple and effective way of talking to your customers personally and faster to provide better service for their needs. However, without proper technique and approach, text-messaging marketing can come off as invasive if it done too frequently. Here are a few tips on how to get started: Creating a Keyword & Auto Reply First, reserve a keyword that consumers can text you to sign up for alerts and join your SMS marketing list. When someone texts the designated number, they will receive an instant response template called an auto-reply. This is a customized welcome message for every new registered user. This can contain discount codes to engage sales and other helpful messages to create traffic to drive online sales. Promote Your Marketing List Make consumers aware that they can sign up for phone alerts when they visit website. You can create pop-up ads to get people sign up and include messaging when consumers make an order online. Develop unique CTA to drive your consumers back to your website. It is important to grow your list organically so you can create a successful marketing list. Create a Schedule Don’t overwhelm your consumers with too many alerts. Create a text blast schedule to send consistent messaging that doesn’t annoy the users and makes them return to the website to see new developments. It is important to spread out your messaging and make sure each one has a different message in order not to sound too repetitive. Consider Outsourcing If you don’t think your business can handle maintaining a strong SMS marketing list, you should consider outsourcing to a third-party. This is an effective approach for companies that are new to this type of marketing strategy and use the help of established professionals that will know how to reach their audience.  There are 2.7 billion people that utilize social media through various channels, connecting them like-minded users and business based on their interests. For businesses, it has become an essential tool in the way they communicate to their consumers. Everything to the images you choose to the captions you write determine a specific tone and voice that is talking to you followers. You have to have a clear, concise vision when it comes to your social media strategy. Using social media for business differs greatly from using it for personal usage; every post has a strategic push behind it. So, here are a couple of useful strategies to implement in your social media marketing. Identifying Industry-Specific Hashtags Hashtags help draw users that do not follow to your page. It is very important to identify popular hashtags that are used in your sector to maximize your overall reach. This is what helps your post land on someone’s explore page or search results easier if they are looking for content similar to yours. It is important not to overuse hashtags that are too board and general so it can reach your target niche audience. Create a Constant Brand Voice It is important that your brand voice is the same on all your platforms. You want all your pages to sound like the same person, now three different people. Lay out a clear guideline on specific vocabulary and style that matches your brand aesthetic or vision. Brand voice is what connects you on a personal level to your audience and it is important to maintain a true, authentic tone that forms a relationship with users.  The “e” in “ecommerce” sets your business apart from storefront or warehouse operations, and the difference could not be more prolific. Electronic and digital processing, advertising, communications, inventory control, and the like, functions well only with a reliable content management system, or CMS. It enables creating, editing, organizing, and publishing content you rely on to run your business on a day to day basis. We’ve come a long way since headache-inducing HTML coding was necessary to develop anything worth viewing over a digital screen. Modern functions are more seamless than ever. From small-time web sites and blogs to sophisticated multi-page systems, the CMS you use is arguably one of the most essential functions of your ecommerce business. When it’s user-friendly, it delivers even more benefits you can’t put a price on. Indeed, you don’t need to break the bank in order to maintain excellent control over content. Take control with open source CMS Open source means freedom and flexibility; it offers a host of possibilities for visual and functional fulfillment with enough customization to truly brand your own enterprise. With more control, you call the shots. Your limits lie in your creativity and visualization. Plenty of open source CMS options offer free usage, making it an even more attractive option. All it takes is a bit of study and time. Here are some to consider:
 They didn’t name it Amazon for nothing. As if the king of all internet retailers hasn’t dominated enough sectors, it’s now among the top platforms for advertising. There are good reasons for that, and none of them should be a surprise. Just as Facebook took the social media world by storm, effectively lining out competitors, Amazon is well on its way to becoming the premier commerce player of all time. Aside from negative press surrounding unfortunate stories of porch package thefts, their rep is quite stellar, even as they creep toward a quasi-monopoly territory that has retailers concerned. And why not? Eclipsing the 600 million product mark in 2018, it seems there isn’t much you can’t find on the popular site. Add to that two-day delivery with its Prime feature, and you have a massive cabal of captive targets. More than 300 million of them, to be exact. This is where you come in. Whether or not you use Amazon as a sales platform, you should be giving serious consideration to its advertising feature. Not too much of a departure from Google Ads, Amazon creates a seamless search function for site users to locate a product. Sponsored posts appear at the top, designated as such in a subtle way. That puts your offering front and center to a consumer directly searching for it on a favorite portal.  |
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