Three Ways to Maximize Asset Recovery for your Surplus
Every organization has complex asset recovery management needs which normally hinge upon the industry it’s in, its asset mix, strategic goals and other factors. Despite it all, every organization also strives towards a common goal: to realize the highest possible recovery for its obsolete, surplus, and scrap inventory or assets.
Looking at the online marketplace as a major outlet for surplus equipment, there are three key strategies we can learn in a bid to maximum recovery by pushing the levels of bidding up. They are outlined as follows.
Reach and Influence Buyers by Leveraging Online Marketing Strategies
Just like every other business, effective marketing in the IT asset disposition industry drives views for auctions you hold online. The result could only be one: high bids and subsequently, good recovery.
Success in this strategy will depend on how well you manage online advertising, search engine optimization (SEO), and broadcast email as your optimal marketing weapons.
- Online advertising – Doesn’t have to be a costly affair for you. Some good techniques to attract buyers without outspending yourself include pay-per-click (you likely have heard of PPC?) and display methods.
- SEO – It pays to have a solid SEO strategy which ensures your auction reverberates across a wider search audience when buyers dig up the web in search of the kind of excess inventory you are offering.
- Email Marketing – Promotional emails are another great tactic you can employ to zero in on a potential market based on asset category and industry, and pique their interest as well as convince them to place bids.
Eliminate Pricing Objections via Outstanding Buyer Experiences
High asset or shipping costs can deter otherwise intent buyers from bidding (something you may also attest to) which limits your potential recovery.
Given there isn’t too much wriggle room when it comes to costs like these, the onus is on you to overcome these pricing objections without compromising on the prices. One nouveau way to go about it is to deliver high-quality experiences for which buyers feel obliged to fork out more.
- Offer a comprehensive view of account information by furnishing them with a user dashboard.
- Add a ‘Watch List’ for assets buyers may be looking for later.
- ‘My Activity’ portal simplifies track bidding and buying activities.
If you notice, these are more like value-adding features for the buyer experience to make their interaction with you easier and more convenient. It goes a long way.
Keep Buyers coming back by offering Exhaustive Information
Experience has shown that many asset liquidation efforts in the online marketplace have a low buyer return rate because of something that can be avoided: providing detailed asset information.
Furnishing them with this information will drive the bids and recovery you are so much after. Details you need to include when listing your assets include photos and videos, item description, asset condition, and original manufacturer brand. This increases buyer confidence in the quality of your surplus, and especially when it comes to high-end consignment. Consequently, what you get are early and more frequent bids.
By adhering to these remarketing best practices, your surplus will no doubt generate high recovery. However, considering the fact that surplus isn’t the core offering for most businesses, your company may be short of time and resources to execute these strategies effectively. This is why a recovery solutions company would be your best bet: it guarantees better customer experiences for buyers while at the same time freeing up resources to concentrate on your core business.