Limited Time and Limited Stock Offers – Why Scarcity Gets Shoppers to Commit

Are you creating the sense of urgency necessary to cinch sales? Turns out, losing the lollygagging looky loos and getting shoppers to commit may be simpler than you think.

Urgency & Sales Motivation

To prevent people from “thinking about it” and possibly forgetting about it   scarcity is key to taking advantage of the buyer psychology not to miss out. Limited time offers and limited stock prevent pesky procrastination.

How Much Does Scarcity Affect Buying Decisions?

In a study by WhichTestWon, a simple countdown timer resulted in nearly 9% better conversions than a product page without a timer. Another retail study conducted by Digital Commons at the University of Nebraska indicated consumer competitiveness, in-store hiding and hoarding, and urgency to purchase in stores using perceived scarcity strategies including limited quantities and limited time sales.

What Types of Perceived Scarcity Tactics Can You Put to Work for Your Business?

• Limited time offers
Time restricted sales, such as holiday and game-day themed offers ramp-up the psychological trigger to avoid loss.

• Limited quantity
Use limited stock to your advantage, showing scarcity to boost perceived value. Advertising real-time stock is a great way to accomplish this.

• Limited quantity/limited price
Airlines use this all the time, boasting “only 3 seats at $50.” The rest may be $51, or $40, but since they don’t show availability – the buying public remains unaware.

• Flash sales
Very limited time offers on hand-selected items.

• Product page countdown timers
Rather than simply posting the date, countdown timers ticking away the sale offer a visual reminder of product scarcity.

• Timed shopping offers
Express and free shipping deals for those that act fast are another super incentive.

• Copy-writing tactics
The language you use can also create urgency, such as “Going fast!” or “Supply is limited!”

The Devil in the Details

Remember, the goal here is to motivate purchases – not lie to customers, which creates a bad image for your brand. Base all scarcity tactics on something – a need to make room for the upcoming season’s inventory, overstock. Don’t just toss a timer on a page and expect a sales boost. And don’t overdo it. Encourage procrastinators – but don’t pressure customers and incite buyer’s remorse.

Getting shoppers to commit is easy with rapid response and delivery. Make things happen with the help of Medallion Fulfillment and Logistics for you order processing and fulfillment needs. Learn more today.

$0 to Decent: How to Jump Start Ecommerce Sales

Did you assume that sales would come rolling in once you set up your virtual storefront? People can’t just magically sense that you’re ready to sell them the product or service they’ve been looking for. You need a proactive strategy to drive traffic to your “door” and convert viewers to customers.

Your marketing plan doesn’t have to be complicated or expensive. Once you get people to your site, their activities will let you know if anything needs to be tweaked or revised. Here are some tested methods for driving traffic, moving from basic to more sophisticated.

Take Advantage of Free Networking Channels

• Spread the word about your business to all your contacts via email and social media accounts. Even if your friends and family don’t make a purchase, they can share a link with members of their network which can be just as valuable.

• Share a link to your store in online forums and communities where your target audience is likely to congregate. Offering discount codes will pique interest and help you track where the customers are coming from.

Create Paid Advertising Programs

• Online advertising is more cost-effective than you may think. Most channels charge per click only, and you can get started for as little as $10.

• Each platform has its own pros and cons. Do your research and choose ones that are likely to attract your target market.

Tap Into Existing Audiences

• There’s no need to reinvent the wheel. Develop synergy through strategic partnerships with companies that are non-competitive but have overlapping target bases.

• Reach out to bloggers who may be receptive to writing a review or news story highlighting your product or service. Another possibility is writing guest blogs to position yourself as an expert in your field.

The best marketing programs are fluid, not static. Using these methods will give you solid feedback you can use to evaluate and refine strategies.

Save Time and Money with Ecommerce Fulfillment Services

Put your time and energy where it belongs, in developing marketing plans and generating sales. Our ecommerce fulfillment services can handle all your needs from inventory management to order processing and shipping. Contact Medallion Fulfillment & Logistics to learn more about our services.

Our Software Now Integrates with All Popular eCommerce Platforms

We’ve been busy in the last month upping our game! Our fulfillment software now integrates with all the major eCommerce platforms and popular shopping carts.

These new enhancements give you more options. Here are the details.

1. Once connected to our fulfillment software system, orders in your shopping cart are automatically sent to Medallion’s system with no intervention on your part. It’s all automatic!

2. The automatic connection sends back inventory data to your shopping cart interface updating your on-hand counts; allowing you to better manage your ordering and inventory.

3. Shipping data from our system flows back into your shopping cart allowing customers to monitor their order status and for you to know exactly when items have shipped. It’s all automated!

Find our more about these popular eCommerce platforms and shopping carts on our website.

Looking for a Reliable, Cost-Effective Service Partner?

Isn’t it time for you to take another look at Medallion Fulfillment & Logistics? Call us today for a free account review.

Don’t let rate increases or poor service handcuff you to your old fulfillment provider. With Medallion Fulfillment & Logistics, you have scale-able options that grow with your business.

You can rely on our more than 29 years of experience providing sellers with efficient and cost-effective fulfillment services to understand your warehouse and fulfillment needs.

When Does it Make Sense for a Business to Use a Fulfillment House? What Companies Need to Know

Coast to Coast Fulfillment Service Coverage

Most ecommerce companies are surprised by how little third-party fulfillment costs, particularly when compared to how much they already spend to warehouse, package, and ship products. Outsourcing order fulfillment is cost effective and allows you to switch variable costs to fixed costs. Gene Kent, President of Medallion Fulfillment & Logistics said, “Many times companies are surprised at the overall cost savings our services have supplied when they review their bottom line after the first six months. As we have heavily invested in technology, both in order processing and bar coding in our warehouse, we are able to process orders faster and cheaper than you can typically do yourself.”

When you compare the total cost of order fulfillment, i.e. maintaining a warehouse, lease payments, staff, benefits, unemployment taxes, insurance etc., to an order fulfillment provider’s fixed cost model, you quickly realize that making the switch saves money. Your business can save from 20 to 50 percent on current order fulfillment expenses.

Minimizing Errors Saves Money

If you’re experiencing even slight errors in the order fulfillment process you might be losing a significant amount of repeat business. Order errors inspire new customers and dedicated customers to buy products from other companies, especially in highly competitive niches. A high quality order fulfillment company satisfies customers which lead to repeat business. “Our warehouse bar coding system eliminates problems. When customer merchandise is received in our warehouse it is immediately bar coded and entered into inventory. Hand held scanners are used by our packers and your inventory is tracked all the way to order shipping. We are using one of the most technologically advanced order and inventory management systems allowing business owners to review stock and order statuses of items on our system 24/7 from anywhere in the world just by using the Internet.” said Gene Kent.

Looking to Expand Your Reach?

Fulfillment houses are ideal for companies seeking to sell products overseas because they have the expertise to ensure your products arrive on time and safely. If you’re seeking to expand your company’s customer base by providing customers more alternatives for ordering products and paying, don’t increase your overhead, outsource the fulfillment process.

Wholesale Orders or Business to Business Orders

As your company expands, a fulfillment company can handle your wholesale or B2B orders. Wholesale orders from large retail chains, catalogs and other mass merchants have different demands than business-to-consumer orders. The penalty for noncompliance with an order from a chain of retail stores for even something trivial can be costly.

Fulfillment houses routinely work with wholesale orders and can develop order processing checklists for your account to assure that your orders are completed based on the requirements of the wholesaler saving you costly charge-backs.

Huge, Sudden Increase in Orders

If you’re considering adding new distribution channels or initiating major new promotions, be prepared for potentially thousands of new orders overnight. A huge increase in orders may overwhelm your back-end system; delaying shipments which leads to unhappy customers. An experienced fulfillment company knows how to properly take care of a large increase in orders. A fulfillment house allows you to ramp up very quickly without increasing your overhead.

If your company has a difficult time maintaining a balance between inventory supply and demand, a knowledgeable order fulfillment company can make a huge difference.

Foreign Companies Selling in the U.S.

Businesses based outside of the United States, partnering with a fulfillment service save time and money because they don’t need a warehouse, office and a staff in the United States; they can focus on obtaining new customers.

The Real Advantages of Partnering with a Fulfillment Service:

  • They know how to handle opportunities and problems which may occur as your business expands.
  • Only pay for fulfillment services when you generate sales.
  • Reduce fixed cost overhead.
  • No need to obtain a larger facility to store products when the business expands.
  • Bulk shipping rates available to fulfillment companies; high shipping cost can break deals with clients.
  • They buy shipping materials in bulk at better rates.
  • An active fulfillment company stays current with the latest software and order processing technology.
  • If your business experiences low volume and high volume days, fulfillment firms eliminate the employee cost associated with the fluctuation.
  • You refine and improve your backdoor operations.

Many nationally known companies reap the benefits of partnering with a third party fulfillment center. Small, medium and large businesses can do the same. With 25 years as a fulfillment service provider, Medallion Fulfillment & Logistics understands your culture, brand, and products from a depth of real world experience.

Isn’t it time to find out how you can save time and money on order processing while you work on expanding your market and sales?

Beyond Amazon, the Power of E-commerce Marketplace Diversification

It's time to consider diversification.

Plenty of businesses use Amazon as their primary online marketplace. But many observe the old adage and don’t put all of their eggs in one basket. Diversification is a successful e-commerce strategy that allows your business to reach more customers in more places.

Our clients use a variety of marketplaces to expand their businesses. These are some of our favorites. Medallion and Sprocket Express integrate with all of these markets quickly and efficiently so that you can ship all of your orders using one easy fulfillment interface.

eBay

This year marks eBay’s 25th anniversary as an online marketplace. It was one of the first and continues to function as a major selling platform. Although Amazon has risen to number one with roughly three times the annual gross merchandise volume (GMV), eBay is still the second leading marketplace in the U.S.

Similar to Amazon, an e-commerce eBay “shop” allows retailers a single branded storefront for all of their listings. Whether used in conjunction with a brand website or as the primary online presence, the eBay shop is a powerful selling tool.

Medallion and Sprocket are fluent in multiple e-commerce marketplaces and already integrates with eBay for a seamless experience, allowing multi-channel merchants to focus on their products and leave the marketplace protocols to us.

Walmart.com

Walmart is the third largest e-commerce marketplace in the United States and represents serious competition to Amazon. Approximately 95% of Americans have shopped at Walmart or Walmart.com in the past year, so this is a massive audience and it continues to grow.

It is easy to start selling on Walmart with these seven steps. Marketplace items appear in search results on Walmart.com alongside other items.

Shopify

Shopify is an e-commerce platform designed to allow clients to easily build a website with a shopping cart solution. As one of the most popular e-commerce cart packages, this software option is a powerful online selling tool.

For businesses that prefer to sell mainly on their own websites, Shopify is an ideal choice. You can also use the platform to build your own marketplace for your brand. Look for a fulfillment service like Medallion Fulfillment & Logistics and Sprocket Express, which is already integrated and ready to connect to your site in fifteen minutes.

Rakuten.com Shopping or Buy.com

Buy.com (recently renamed Rakuten.com Shopping) is one of the largest online retail marketplaces with over 20 million customers in the U.S. On this platform, e-commerce sellers can create their own fully branded “storefront” to maintain cohesive brand identity.

As an added bonus, Rakuten clients have access to an e-commerce consultant to advise sellers on ways to expand exposure and increase sales. Customers of the marketplace also earn cash back, which promotes loyalty to the platform and encourages repeat business.

Retail EDI

Companies that sell to wholesale customers to supply their retail stores often use Electronic Data Interchange (EDI) to transmit orders. This is the most efficient way to resupply because the system does all of the work behind the scenes and all the store has to do is enter the quantity of an item to trigger the order.

EDI is a powerful strategy for B2B sellers and can trim time and staff expenses, contributing to a healthier bottom-line and less error in the supply chain. Medallion and Sprocket Express are equipped with full EDI capabilities to allow our wholesale clients to focus on expanding their businesses without devoting valuable time to processing large orders.

East and West Coast Warehouses to Speed Delivery to Customers

Medallion and Sprocket Express are expressly designed to serve multichannel marketers and omnichannel sellers. With built-in integrations for numerous marketplaces, we are prepared to serve your business wherever and however you choose to sell.

We currently support multi-channel platforms for over 25% of our clients, so we can also coach on carrier selection, shipping method strategies and more, based on your unique business needs.

When you are ready to ramp up your business, Medallion with East and West Coast warehouse operations is ready to help you with shopping cart integrations that maximize your efficiency.