5 Strategies To Improve Your Buyback

Buyback is coming—and with much of retail moving into the eCommerce space, it’s very important to stay relevant. Brand loyalty is becoming a thing of the past and students are becoming savvier than ever when it comes to getting the most for their money. Consider the areas where your store’s marketing could use a pick-me-up and try out a few new ideas to better connect with your customers and help increase your foot traffic during Buyback.

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1) Utilize social media

You can bet that most students are engaging in at least one social media platform throughout their day. Make sure you’re store is connected and that you’re using each platform to the fullest.

Facebook

  • Promote your buyback information through FB posts and targeted advertisements
  • Utilize Facebook Live to give real-time updates of what’s happening during your buyback. For example, create a digital meter that show’s just how much cash back students have received.

Try posting this on Facebook:

Download Image >

Instagram

  • When you set up a business account through Instagram, you can gather metrics on how your posts perform and get important insights about your followers
  • Create geo-targeted ads to promote your buyback

Try posting this on Instagram:

THIS WEEK ONLY!

Get instant cash when you sell back your textbooks!

Where: Store name & location

When: Day, Month Date – Day, Month Date, XX:XX am – XX:XX pm

Download Image >

  • Create shop-able posts where students can see and shop for merchandise directly through the Instagram app
  • Find even more ways to utilize the app here: https://business.instagram.com

Snapchat

  • Create geo-filters for students to use that will locally promote your Buyback
  • Attach your store’s website to each post you make using the paperclip icon so students can directly click-thru to your eCommerce store (users know how the functionality of this works)

Submit this geofilter to use on Snapchat:

Download Filter >

Cross Promotion

  • Don’t forget to cross promote all your social media platforms on other social media platforms.
  • Advertise deals that are unique to certain platforms and cross promote them on other social media platforms.

 

2) Connect with influencers

Many brand influencers are also students. These influencers have the voice AND the reach to promote your store on campus. They mostly use social media, blogs and vlogs to connect with their following.

  • College Sports Influencers (campus bloggers)
  • School’s Newspaper, Radio and TV personalities
  • Well-known alumni

 

3) Make your store a destination

Create a space with resources students can utilize during finals.

  • Extend store hours and create a daily study lounge while providing refreshments, charging stations, promotions, etc. for students to utilize while studying and use in-between finals.
  • Develop a stress-relieving zone with promotions, games, etc. where students can come to relax during finals.
  • Plan “finals parties” to celebrate the end of a successful school year during evening hours.
  • Consider taking your buyback offsite during busy hours to make it more convenient for students to drop in.

 

4) Develop Promotions 

Give your customers an incentive besides “cash” to return books to your store.

  • Advertise a merchandise discount based on the number of books sold back.
  • Partner with a local restaurant and give out free food or coupons for free meals when you sell back your books. Students will do a lot for free food.
  • Make your event philanthropic by matching a percentage of each student’s buyback total to donate toward a local charity
  • Create a simple “scan and win” game where students who sell books back can scan their ID to win free textbooks, tech supplies, cable packages, season tickets etc. for next semester.
  • Offer additional cash back if student sells by a certain date. For example, an extra 5% cash back.

 

5) Don’t Forget The Tried and True

Just because there are new ways to market, doesn’t mean the old ways aren’t still relevant. There’s not always a need to reinvent the wheel.

  • Sponsor/advertise at sporting events
  • Sponsor/advertise in local newspapers

So, are you ready for the planning and prepping that goes into a successful execution? Of course you are; but in case you’re not, NBC has got you covered. Not everything on our list is essential for a successful buyback. But don’t let your existing marketing techniques run stale. You’ll see that by implementing a few of the discussed strategies can make a big impact on your bottom line.

One Comment

  1. Mike Kelly-Reply
    November 11, 2017 at 1:49 pm

    This is a great post. Buyback does not have to be a loss. There are books in the hands of students who really don’t need or want them anymore. Another key is making sure students KNOW the difference in the value the store provides over online marketplaces. The price difference has been shrinking, but the value proposition hasn’t.

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