Almost 2.5 billion people use social media online today and you can now do so much more than just promote a product on social media, you can sell it. This is huge for closeout wholesalers, closeout websites and other businesses that buy overstock inventory. .Social selling is when a business uses social media to directly sell their goods. It’s the latest way to develop meaningful relationships with potential overstock buyers by connecting with them. It is an innovative way to sell excess inventory. Wholesale liquidators are slowly coming around to this innovative way of selling closeouts, as they discover a new way to get rid of dead inventory to excess inventory buyers and closeout brokers.
67% of the customer buying journey is digital. Decision makers read 5 or more pieces of content online before making a closeout purchase. Therefore wholesale liquidations on social media gives eCommerce businesses the ability to make any social media post shoppable. It’s quite simply using online social tools to engage in the relationship-building strategies that have always been the foundation of what good sales professionals do. It gives you the chance to be involved in the purchasing decision. Closeout websites discovered these tools many years ago, and successful discounters and closeout wholesalers have caught on, as well.
Studies show that over 50% of people shop on their phones and the majority of these people use social media to buy overstock and wholesale liquidations. So by not participating in social selling you are most likely losing out in revenue to other closeout wholesalers. Share behind the scenes content. One platform that’s great for brands to show behind the scenes of their company is Instagram. Not just through posts but through Instagram stories. Though the stories format is very similar to that of Snapchat stories, the good thing about Instagram stories is that anyone can view your story, even if they’re not following you, as long as your page isn’t on the private setting. Stories are the ideal tool to show your audience a more raw and authentic real-time look into what sets you apart and what makes your business unique. Not all closeout websites are the same and these stories allow you to share what makes you special.
95% of the Western Hemisphere now own a mobile phone and 2.5 billion people use social media. With statistics like that, not choosing to participate in social selling would be a hugely missed opportunity for any business that sells excess inventory and buys overstock products. Social sellers attract 45% more opportunities than their peers. They are also 51% more likely to achieve quotas and outsell than those that choose not to social sell. It’s a great way to sell dead stock to liquidation companies and improve cash flow by getting rid of slow moving inventory.
Getting your foot in the door by making sure you have all the relevant social media accounts to sell and promote your products, such as Twitter, Facebook, and Instagram, is a good start. eCommerce stats show 74% of consumers rely on social media to guide their purchases when they buy overstock, and 43% of consumers are more likely to buy a new product when learning about it on social media.
While new customers are great, returning customers are even better when it comes to closeout websites and wholesale liquidators. For business growth long-term, it is crucial to maintain and build upon a base of loyal customers. This is where social selling becomes essential. Sales teams can use social selling techniques to stay on the radar of closeout companies, wholesale liquidation buyers and surplus buyers.. The secret is to keep them wanting to come back. This involves continuous and consistent engagement.
Merchandise USA specializes in selling overstock inventory and selling dead stock. If you need to liquidate Amazon stock or have a wholesale liquidation, contact us today.