TAS 420: (HOT SEAT) Sales Dropped after Back in Stock – Should I KILL this Product?

How can you apply the concepts and teachings you hear from Scott to real-world scenarios? That’s where TAS Hot Seat session comes in! On this episode of The Amazing Seller, you’ll hear from Scott and Chris as they break down an example provided by a TAS follower like you. The guys look into why this seller received a recent drop-off in sales, what factor ratings play into the equation when to start adjusting the price of the product, and other helpful action steps. If you are looking for tangible examples of how these lessons play out in the marketplace, make sure to listen to this episode!

Looking into a Drop off of Sales

Have you run into the situation where your product is performing so well that you run out of stock and then you have a difficult time recovering that same sales momentum? What was your response? What will you do if this ends up happening to you? On this episode of The Amazing Seller, Scott and Chris dive in and help to uncover why this seller that contacted them is having a hard time regaining the sales rate they had before. In typical style, Scott and Chris cover all the bases and really provide helpful tips on how to conduct your own investigation should this scenario happen to your ecommerce business. To hear the guys go further with this topic, make sure to catch this episode!

Adjusting Your Product Price to Increase Sales

A good solution that many ecommerce turn to when they experience a significant dip in their sales velocity. What have you done to help remedy low sales velocity? Is adjusting the product price a good decision? On this episode of The Amazing Seller, Scott and Chris explain why they believe it is a good strategy to adjust your product price in order to spike sales. They also caution that this shouldn’t be counted on alone to accomplish your intended results, there may be other factors to consider. If you want a good picture of what to look for and what to address when facing a drop-off in product sales, make sure to listen to this informative episode!

Learning from Mistakes and Failures

As a business leader, don’t you hate coming face to face with failure? That word alone can bring up feelings of insecurity and shame. That doesn’t have to be the case! For leaders like you to succeed as small business owners, it is vital to have a shift in mindset regarding mistakes and failures. Don’t allow these unfortunate instances to define you. Take the opportunity to learn from them and use the lessons learned as fuel for you as you push forward on your journey toward success. Hear more about this important topic on this episode of The Amazing Seller!

Reaching Out To Social Media Influencers

You don’t want to leave money on the table, do you? Of course not! Do you have a plan in place to reach out to social media influencers in order to expand your brand and drive sales? On this episode of The Amazing Seller, Scott and Chris emphasize the significant advantage that sellers like you can enjoy if you are bold enough to reach out to social media influencers. While this may not be the best strategy for every seller, you’d be wise to take the time and do the research to see if it could help you expand your brand. Hear more about this topic from Scott and Chris on this episode!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [1:45] Scott reads an email from a TAS follower like you.
  • [5:30] Is the drop off in sales due to the product being “seasonal?”
  • [10:00] Do the product reviews factor into the reason for the sales drop off?
  • [19:00] Adjusting the price to increase sales.
  • [26:00] Loosing sales to competitors and reaching out to SM influencers.
  • [29:00] Are you married to the market? Scott recaps some action steps.
  • [33:00] Moving forward with lessons learned.

click

Resources Banner2

TRANSCRIPT TAS 420

TAS 420: (HOT SEAT) Sales Dropped after Back in Stock – Should I KILL this Product?

[INTRODUCTION]

[00:00:03] Scott: Well hey, hey what’s up everyone! Welcome back to another episode of The Amazing Seller Podcast. This is episode number 420 and today I’m excited because we’re going to do one of my favorite things and that is…

Read full transcript...

LINKS MENTIONED IN THIS EPISODE

NEW To The Blog and Podcast?

I created a Page Just for You called…START HERE!

If you enjoyed this episode share the love with your friends…Click To Tweet the show.

Subscribe To Be The First To Receive Updates and NEW Podcast Episodes

Please like & share: