Resourceful Things You Can Do With a Product That Doesn’t Sell
Sometimes business ideas sound great on paper, but can be a complete flop when placed on the market! The hard fact is that some products simply don't sell. But don't despair — just because your first few products didn't make it doesn't mean you're stuck with inventory that you can't move.
Here are a few pointers for what to do with products that don't sell:
- There are always people on the lookout for products they can sell. You could sell the rights of reproducing and selling your product to these people.
- You could offer the product free on your website. Most people like freebies, so this will ensure that many of them will visit your site, and perhaps spot another product you sell there and purchase that.
- You could make up for some part of the money you invested by selling your product on an online auction. It could even turn out to be profitable, because bidding wars often lead to people buying products at a higher price than they are actually worth.
- You can offer the product as a free incentive with some other product that you sell. This will increase the perception of its value. People always like feeling that they are getting more than they are paying for.
- Get in touch with other businesses that have a similar target market, and find out if they will offer your product free with theirs. You can get free advertising by placing your ad on your product.
- Or, you could ask them to combine your product with theirs. The two products could be sold as a package deal, and you could share the profits.
- Another idea is selling your product at wholesale rates to other businesses as a promotional offer. Businesses are always more than willing to offer products as giveaways to make their customers happy.
- People always love contests. Put your product up as an online contest that they can win. This will not only draw people to your site, but by listing it on contest directories online, you can obtain free advertising.
- If you do give away your product, let others do it. You could gain by placing your website address on the product, which will increase the traffic to your site.
By being creative with a non-selling product, you could recoup the product development costs — and get some free advertising in the deal.