Recently a big neighborhood garage sale weekend was planned here in Louisville. There was only one problem: the forecast called for a tremendous amount of rain.
Some people decided to cancel, while others decided to stay the course.
Sure enough, first thing Saturday morning, the deluge happened.
Shortly after the rain started, I saw a post from the wife of one of my clients, encouraging people to still come out to her garage sale. I jokingly asked if she was selling umbrellas, and then I got off social media for a while.
About an hour later, I logged back on to see if she had replied. I was absolutely amazed by what I saw.
She had moved her entire garage sale online.
Because she already had her items organized by product lines (boys’ clothing, girls’ clothing, kitchenware, and lawn and garden items), she knew exactly what she had in stock. She posted pictures and descriptions of each product line along with pricing, and began selling her inventory via direct message (DM).
By adapting quickly, she made a total killing on her garage sale, selling both via DM and in person during and after the rains. By the end of the sale, she had moved over 90% of her inventory and walked away with way more profit than she had originally projected.
Why was she so successful, and what can we as small business owners learn from a rainy-day yard sale? It comes down to three fundamental core business principles:
1. Dial In Your Target Market
First and foremost, she knew her target market inside and out. She knew exactly who her buyers were, where they were shopping (on social media), what they wanted to buy, and how much they were willing to pay.
From past garage sales, she had already figured out the merchandising and layout part, but more importantly, she understood how her buyers preferred to shop. She recognized that there was a whole secondary marketplace of people who would never go to a garage sale, especially in a rainstorm, but who would still be interested in her inventory if it was presented to them correctly.
2. Make It Easy to Buy
Once she identified where her market was, she immediately added an additional, friction-free method for them to purchase: buying via DM.
She understood that people still wanted to buy her items even though it was pouring outside. Instead of forcing them to browse tables in the rain, she met them exactly where they already were, sitting inside, scrolling on social media to pass the time during a rainstorm. Her photos were well-organized, making it incredibly simple for buyers to choose what they wanted, make an offer, or just “buy it now.”
3. Implement Multiple Marketing Strategies
Like everyone else in her neighborhood, she started out using the standard, traditional marketing strategies to promote the weekend event. But the moment the external market conditions changed, she didn’t just give up or wait for the weather to clear.
She adapted instantly and launched her own social media campaign. She captured a wave of buyers she never would have reached through standard signs and driveway foot traffic.
What Is Your Next Pivot?
When conditions change in your industry, staying the course or waiting out the storm isn’t your only option. True business growth happens when you have the systems in place to spot opportunity and pivot quickly.
If you want to learn how the ABoS platform can help you build a more agile infrastructure, optimize your operations, and identify strategies for more sales and profit, schedule an intro call and let’s figure out what your next pivot should be.
Author: Mark McNulty, Business Coach in Louisville, KY