You’ve struck digital gold with a viral product. Perhaps an influencer endorsed it, or the algorithm smiled on your post. When your product goes viral, it brings a wave of excitement and an influx of orders that can transform your business.
However, this sudden surge in demand can sink your company if you’re unprepared. We’ll help you understand how to efficiently manage this unexpected sales surge so you can maintain customer satisfaction and capitalize on new opportunities.
When the initial euphoria wears off, the shock of your new workload can feel overwhelming. Let’s look at how to capitalize on a viral product.
Evaluating your current inventory helps you make informed decisions to meet a sudden demand surge while setting accurate expectations with customers.
Imagine you sell a long-lasting mascara that goes viral after a prominent influencer features it in a TikTok video. You check your inventory levels and realize you only have 500 units left, and orders will quickly exceed that.
You’ll need to plan timely replenishments, arrange financing for extra stock to quickly meet the demand for the viral product, and communicate with customers.
Increasing production can help you meet demand and sell more products that go viral.
Inventory management software like Cin7, which offers advanced manufacturing features to increase production capability and efficiency, is key. Cin7’s advanced manufacturing module provides a 360-degree view of your inventory posture and production environment and helps you make more products at a lower cost and in less time.
Cin7’s capacity planning feature will help you optimize your processes so you have the right materials, equipment, and labor to meet the surge in demand.
As soon as you notice a surge in demand, contact your supply chain partners to give them time to adjust their operations for the increased volume.
Schedule meetings with key partners to discuss the surge, strategize how to manage it effectively, and address potential issues proactively. This will also reduce the risk of incurring additional costs due to rushed shipping or emergency purchases.
Going viral is a thrilling experience for any small business. But how do you effectively manage your stock and target audience’s expectations?
Let’s look at how you can smoothly navigate the uptick in demand while maintaining customer satisfaction.
Tracking your stock levels in real-time helps you gain a clear, up-to-the-minute view of your inventory and enables you to make informed decisions during high-demand periods.
Use an inventory management solution like Cin7 to streamline your inventory levels across all of your sales platforms. Cin7 integrates with e-commerce tools like Shopify and WooCommerce and marketplaces like Amazon and Etsy to provide an up-to-date view of your stock levels across all your sales channels.
You can also set up automated stock updates to instantly reflect retail sales, returns, and new stock arrivals.
One of the hidden dangers of a sales surge is overstocking. Viral products generally run their course and can leave you with capital tied up in unwanted stock. Cin7 can help you avoid overstocking to protect your capital
Clear communication lets you handle customers’ expectations to manage frustration and disappointment. One way to communicate clearly is to keep your website accurate.
Inventory management tools like Cin7 can update product availability automatically. You can also add stock alerts on your product pages with features like “Only X left in stock” or “Back in stock on [date]” to manage customer expectations.
Additionally, use your social media channels to provide timely updates on restocks. You can also engage with customers in the comments section to answer questions and provide real-time support.
Likewise, update shoppers via personalized emails if stock changes to improve the customer experience. Be sure to create email versions in all of the primary languages your website supports, not just English.
Let’s look at two examples that show how to communicate effectively with customers during stock changes.
Out of stock email example
An out of stock email updates customers when inventory changes or delays occur.
Subject line: Important Update on Your Recent Order
Dear [customer name],
Thank you for your recent purchase from [store name]. We’re thrilled to have you as a valued customer!
An abrupt surge in demand for [the product] has left us temporarily out of stock. We understand how disappointing this can be and sincerely apologize for any inconvenience this may cause.
We have two great options for you to consider.
Thank you for your understanding and patience. We appreciate your business and look forward to serving you again soon.
Best regards,
[Your signature block]
Back in stock email example
Back in stock emails notify customers when popular products are available to encourage reorders, capture sales lost to out of stock notices on your website, and maintain sales momentum.
Here’s an example.
Subject line: Great News! [product name] is Back in Stock!
Dear [customer name],
We have some exciting news for you!
Our highly sought-after [product name] is back in stock at [store name]. We know you’ve been waiting for this, and we’re thrilled to let you know it’s available for purchase again.
Here’s why you should grab it now:
Shop now: [Link to product page]
Thank you for being a valued customer. We appreciate your patience and support.
Happy Shopping!
Best regards,
[Your signature block]
Cin7 is an intelligent commerce platform that helps SMBs handle sales surges effectively so they can continue being profitable and keep customers happy.
Some key features that Cin7 offers include:
Accurate forecasting helps you anticipate which products will be in high demand. This allows you to optimize your stock levels, capitalize on your product’s viral success, and boost sales and revenue.
ForesightAI offers real-time forecasts and replenishment optimization with enterprise-level accuracy, which helps you better prepare for sales surges. You also get daily updates on which products to order, when, and in what amounts to meet customer demand while avoiding overstock.
Most sales surges happen around holidays and events like Black Friday. In fact, over 80% of customers intend to shop on Black Friday and Cyber Monday in 2024. Cin7 can help you prepare for a seasonal surge in demand.
Remember that seasonal surges may vary by location. For example, Americans will be interested in beach products at different times than Australians.
When handling a surge in demand, Cin7’s advanced manufacturing capabilities can help keep your production processes efficient through:
Cin7 integrates seamlessly with third-party logistics (3PL) providers like Fulfillment by Amazon and Shipwire, making order processing and fulfillment efficient. This integration is crucial during viral moments as it often means faster picking, packing, and shipping, which allows you to handle the increased demand without compromising delivery times or service quality to ensure customer satisfaction.
Funds are crucial during a sales surge. You need capital to buy additional stock without the delays often associated with securing loans or waiting for revenue from online sales.
Most businesses need help to gain access to credit and avoid high interest rates.
Cin7 Capital, available to US-based core customers starting in late July 2024, offers integrated lending opportunities to help you run and expand your business efficiently during high-demand periods. With invoice financing, get the cash value of your sales orders deposited into your account in 1-2 days. So your business keeps running smoothly.
Note: When launched Cin7 Capital will only be available to US-based Core users there are plans to expand to Cin7 Omni customers and businesses based outside the US.
How you manage your business after a sales surge determines whether you’ll be profitable in the long term. Let’s look at the measures you should implement to make sure your company builds on this viral success.
Return rates help you determine product quality and customer satisfaction. High return rates may mean customers have issues with your product’s quality. On the other hand, low return rates generally suggest that most shoppers are satisfied with their purchases.
The Return Merchandise Authorization (RMA) module allows your sales team to efficiently handle returns, exchanges, and refunds. With the RMA system, you can log all return requests, including the reason for return, product condition, and customer information.
As a result, you can identify recurring issues with specific products or batches, which allows you to address quality control problems and improve future production.
Cin7 Core’s RMA module helps you configure your company’s return policies, which you can then use to streamline your returns decision-making and automate a significant portion of the returns workflow.
To remain profitable after your viral success follow these three tips:
You need an effective sales strategy, good communication with customers, and the right tools to successfully manage a surge in sales from a viral product.
Cin7 offers a robust and scalable solution that equips you with everything you need to handle a sales surge so you can sustain long-term growth.
Start your free trial with Cin7 today and turn your viral products into lasting success.
