As we approach the end of financial year, you may be considering running a clearance or flash sale (affectionately known as an EOFYS).
There’s the temptation to reduce how much you need to count during your stock-take.
Or to get a few quick sales over the line before having to pay the tax man.
There are many benefits to running an EOFYS:
- You can sell off end of season or last season’s stock.
- Clear slow-selling lines or odd or less popular sizes.
- Encourage new customers to trial your products for the first time by retargeting people who have visited specific product pages in your online store.
- Or you can reward existing loyal customers or re-engage lapsed customers who haven’t bought from you in a while.
But to benefit from the enormous potential of this strategy, you need to avoid the common pitfalls and mistakes.
Otherwise you could end up digging yourself into a bigger hole with poor revenue and profit now and into the future!
Listen to this bonus podcast episode as I share the common pitfalls and mistakes, as well as best practices for running a successful EOFYS.
Next, be sure to head to our Rockstar Productpreneur community to ask your #askcatherine questions! I can’t wait to hear them.
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Links mentioned in this episode:
Click here to register for our upcoming free Masterclass, “My 6 Figure Ecommerce Sales Formula”
FREE Marketing Campaign Planning Guide + Template Download
Click here to listen to the podcast about Giveaways & Competitions
Other Ways To Enjoy This Episode:
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