Selling on Whatnot: Strategies and Tips
Introduction
- Aim: Demonstrate how to sell on Whatnot with zero followers
- Audience:
- YouTube subscribers
- New sellers on Whatnot without a social media following
- Objective: Provide strategies to grow a successful selling platform on Whatnot
Overview of Whatnot
- Whatnot: An online marketplace for various items (e.g., Funko Pops, action figures, clothing, etc.)
- Example: Fast-paced auctions, e.g., 5-second auctions starting at $5
Key Improvements on Whatnot
- Faster Approval Process
- Previously: 5-6 weeks for application approval
- Now: 2 minutes to apply, approval in 24-48 hours
- First-time Sellers Bonus
- Whatnot matches first sales up to $150
Getting Started on Whatnot
- Sell your first item with minimal effort
- Whatnot Seller Academy: Educational videos on listing and shipping
Tips for Growing on Whatnot
Tip #1: Start Small
- Avoid planning massive shows initially
- Go live with fewer items and build from there
- Example: Four 15-minute shows are better than one 1-hour show
Tip #2: Have Fun
- Important to keep the audience entertained
- Energetic and engaging presentations keep viewers in the show
Tip #3: Stay Consistent
- Building a following takes time and effort
- Similar to YouTube in terms of needing multiple shows or videos to gain traction
Tip #4: Think Outside the Box
- Add entertainment value to engage viewers
- Unique examples: Tattoos for purchase, interactive giveaways
Tip #5: Sell the Right Stuff
- Focus on items with wide market interest for impulse purchases
- Adjust pricing and sourcing strategies to offer competitive deals
- Sub-tip: Avoid starting auctions too high; people expect deals
Practical Demonstration
- Created a new Whatnot account with 11 followers and no prior sales
- Conducted a live sale of a Game Boy Advance SP
- Demonstrated quick setup and sale process within 15 minutes
Conclusion
- Whatnot as a powerful platform for resellers
- Importance of consistency, fun, and strategic product choice
- Encouragement to apply and start selling with financial incentives from Whatnot
- Call to action: Like and subscribe for more content
Final Thoughts
- Embrace the learning curve and potential growth on Whatnot
- Experiment with different selling strategies and entertainment methods
This summary provides an overview of the lecture on strategies and practical tips for selling on Whatnot, intended for new sellers looking to grow their presence and sales on the platform.