Increasing online sales is the primary goal of countless closeout websites, large and small alike. Whether you run a mom-and-pop retail business or work for one of the large closeout brokers, increasing sales through online channels takes some work, but it can be done. And it can be done on the cheap. Excess inventory buyers specialize in helping businesses sell surplus inventory and get rid of liquidation stock. These products are then sold buy closeout sellers at deep discounts, either online or in big box retail stores. Closeout brokers act as middlemen, getting these wholesale overstocks from the supplier to the end user. The key is often getting the word out online by boosting sales.
If you’re selling stuff online, ad extensions are a no-brainer – this feature (available in both Ad Words and Bing) allows you to make your ad bigger with more places to click. So if you are promoting closeout websites that sell housewares, sporting goods, toys, lawn and garden closeouts, you should consider using this feature. When you are selling excess inventory you still have to promote and advertise your goods to the right customers. Bargains shoppers are always searching the internet looking for liquidation merchandise, special closeouts and discontinued inventory. With ad extensions you can easily make your ads bigger, and it doesn’t cost any extra. These larger, bolder ads will also increase your ad’s click-through rate so you should see an increase in activity. Liquidation buyers often put special deals on closeout websites or deal sites in an effort to reduce their inventory or make room in the warehouse for new merchandise coming in.
In today’s social media environment, customer feedback has never been more important. Fortunately, this means that your satisfied customers can provide you with one of the most valuable weapons in a closeout brokers arsenal – testimonials. Legions of satisfied customers are considerably more influential than even the best-written sales copy, so make sure you include gushing testimonials and reviews from your customers gushing about how wonderful you are. There are a lot of excess inventory buyers, and it is always a good idea to let new customers or vendors hear from businesses you’ve already worked with. Today there are more and more closeout websites to choose from; testimonials are a great way to set yourself apart from the pack. These might appear on your product pages, landing pages, pricing page, even your home page. If you have done a business liquidation that went well, ask your customer if they would be willing to right a testimonial. Companies that sell surplus inventory and other liquidation stock have more competition than ever and they are competing with a multitude of other sellers for consumer dollars. Excess inventory buyers can include testimonials and reviews in social media,
Oftentimes, one of the most powerful factors in a consumer’s decision not to buy something is risk aversion – the desire to avoid a potential loss. Consumers buy overstock and closeout deals because they know these are great deals and amazing value for their dollar. Companies that sell surplus inventory are able to offer customers prices below regular cost for high quality closeouts. Most times, this perceived risk is a financial one. Why should someone buy your closeout products? What if they don’t work, or the customer doesn’t like them? Even small purchases can carry the risk of “buyer’s remorse,” so overcome this objection from the outset by offering a bulletproof money-back guarantee. Excess merchandise is often available due to businesses making room in the warehouse or closing their 3PL warehouse. Overstock buyers who take advantage of these opportunities are able to make deals available to the consumer. The more risk you remove from the prospect’s decision, the more likely they are to buy from you, so take away anything that could dissuade prospects from buying from you, give them low prices on closeout specials and discounted products, and offer them a 100% return policy.
One of the most dangerous pitfalls you can fall into when trying to sell online is making assumptions about your prospective customers’ knowledge of your product, service, or even market. Many companies mistakenly believe their customers know more about what they’re selling than they actually do, which results in unanswered questions or objections that are failed to be addressed – both of which can harm sales. Consider every question you can possibly think of about your product, and answer it in your copy on your product pages. This is especially important when selling excess inventory because liquidations are often mixed lots of goods or bundled products. Similarly, think about every potential objection a prospect might have about closeouts coming from inventory liquidators.. This might seem impractical, but remember, you’re not bombarding prospects with unnecessary information – you’re giving them exactly what they need to make an informed decision about your liquidation stock. This approach is also an excellent exercise to sell surplus inventory in writing tight, clear, concise copy. If you’re worried there’s too much copy, you can always trim it down. Companies in liquidation often have so many products to sell at one time that it can be difficult to advertise all the prospects of each item.
Running paid ads is a great way to reach out to your customers. You need to identify the channels where your target audience hangs out and engage them where they are. Closeout buyers looking for deals may search on deal sites and closeout sites where companies in liquidation can advertise excess inventory for sale. Paid ads are an effective way to expose your brand to a large audience and helps to increase closeout website traffic. You can run Google Ads or run paid ads across your social media accounts like Facebook or Instagram for improving online sales. Social media is a great digital advertising tool for any business that wants to get a better return on investment, liquidate overstock inventory or explore the liquidation process.
Merchandise USA is a closeout liquidator specializing in wholesale liquidations and overstock inventory. We help businesses sell surplus inventory and shut down or move 3PL warehouses.