How To Build Your Online Consignment Business

How to​ Build Your Online Consignment Business
Get the​ Word Out!
Consignment is​ a​ simple concept—taking other people’s products and selling them for a​ percentage of​ the​ sale .​
According to​ Skip McGrath,​ of​ skipmcgrath.com,​ a​ successful eBay PowerSeller,​ [Consignment selling] is​ the​ fastest growing phenomenon on​ eBay .​
The key to​ successful online consignment is​ marketing your services .​
You really have to​ promote your business,​ and McGrath shares some techniques for doing just that .​
There are four areas you’ll use: advertising,​ public relations,​ networking,​ and creating a​ website.
1.Advertising: the​ market you’re in​ will determine your course of​ action here .​
The Retail Market—selling products for ordinary people:
• Door hangers
• Classified ads in​ small to​ medium-sized market newspapers
• Flyers
• Posters
• Radio spots
• Attorneys—estate executors and bankruptcy processors
The Business to​ Business Market—selling excess inventory for retailers and manufacturers:
• Classified ads in​ business journals
• Direct mail
• Attorneys—bankruptcy processors
• Local charities and not-for-profits—rather than always asking their supporters for money,​ they can ask them to​ donate products you​ know will sell .​
So you​ can build a​ relationship that’s profitable for both of​ you.
2.Public Relations.
• Write a​ press release,​ print out a​ copy and mail it​ to​ all your local newspapers—they’ll promote your new business in​ hopes you’ll advertise with them.
• Community groups—the Lions,​ the​ Jaycees,​ your local chamber of​ commerce .​
These are especially useful for business marketing .​
Your chamber of​ commerce should have a​ newsletter that you​ can advertise in​ and every chamber member in​ town will get.
If you​ sign up for a​ community group,​ volunteer for something .​
You’ll make more contacts and be taken more seriously than if​ you​ just show up to​ the​ meetings to​ gain more contacts.
3.Networking
•The McGrath 3-foot Rule .​
Explains McGrath,​ I​ always have business cards on​ me…and anyone that gets within 3 feet of​ me [is] going to​ learn what I​ do.
•Cold call on​ potential customers .​
Walk around the​ business section of​ town (or your neighborhood for retail) and let them know that you​ can help them liquidate their surplus merchandise .​
If businesses seem reticent,​ offer to​ let them give you​ one or​ two pieces as​ a​ trial and then make sure you​ do a​ good job selling those.
•Build a​ database of​ your customers .​
Collect business cards and stay in​ contact periodically .​
Send an​ email,​ send a​ Christmas card .​
Retaining customers is​ easier than finding new ones.
4.Create a​ website
• Try to​ include your city and the​ word consignment in​ the​ title—these are very popular search terms right now.
• Have a​ link from your site to​ your consignors so they can check the​ status of​ their own auctions.
• Send out emails or​ newsletters through your website to​ your customer database.
You may find some methods work for you​ better than others,​ but the​ main thing is​ just to​ let the​ world know you’re there—get the​ word out!
How To Build Your Online Consignment Business How To Build Your Online Consignment Business Reviewed by Henda Yesti on July 22, 2018 Rating: 5

No comments:

Powered by Blogger.