Using Social Media for Crowdsourcing and Profits

Fab.com, a design e-retailer, is succeeding at creating traffic and sales by using innovative social media marketing tactics. This is a strategy that can be used by any ecommerce merchant, including wholesalers and manufacturers. What you need to do is advertise to build up your membership, which is done through social media by crowdsourcing, and then feature exciting, colorful products on your site, which sell out quickly to members and their friends. Rinse and repeat.

Fab featured exciting socks that were polka-dotted, neon orange or neo-argyle, which are selling out fast on its website. Fans are even posting sock images on Pinterest and tagging them on Tumblr blogs.

The idea is to display your products on digital dashboards that are compelling for buyers, such as the one shown below from Fab.com. Then, periodically change your dashboards with new and exciting products… Read more

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