Can you really manage your inventory in 140 characters or less? Twitter CEO Dick Costolo certainly thinks so. At a recent BrainstormTech conference, he mentioned how the San Diego Chargers sold more than 1,000 game tickets to last-minute buyers on Twitter. This tactic boosted attendance and generated a little extra revenue for the team that they otherwise would have missed out on.
Inventory Management of Last Resort
When you make an error in your order management and wind up with way more products than you can sell, you can use Twitter to offer a special discount on them. If they’re a time-sensitive product, you can offer, say, a 10-percent discount the first week and then keep upping the discount amount until the very last minute. You’ll probably lose money on the products as you get closer to the end, but at least some money is coming in the door.
As an added benefit, having sales on Twitter is a good way to get followers and generate buzz about your products and services. Just be sure selling isn’t the only thing you do on Twitter. You have to also give your customers something of value that’s not related to your products. I wrote a whole blog post about how businesses should use social media. Be sure to check it out.
The best part is that Twitter isn’t charging companies to publicize coupons and special deals on it… yet. Take advantage of this service while it’s still free. Even if they do start charging a small fee, it will probably still be worth it because of all the customers you can reach and all the inventory you can get out the door.
A Little Fun
You know, I think this blog post might get marked for spam because of all the cheesy, salesy words I’ve used. But I’m mainly using them as examples of what other people might say. So please don’t kill the messenger.
Ahem. Having said that, if you’d like to learn more about inventory management software that is much better than Twitter, sign up for an inventory software demo today.