If you think all marketplaces are created equal, think again.
Sure, Amazon’s revenue stands almost fivefold over eBay’s, and Amazon’s services cover a wider range, but they are both marketplaces at their cores. And at the end of the day, marketplaces provide sellers the opportunity for the same end goal–moving product. However, each marketplace has unique features to assist sellers; therefore, your selling strategies should differ between the two channels. Last week, we discussed Amazon growth hacks; now we will tackle eBay’s. Read on for the tips that we compiled on how to boost sales on eBay.
Offer Free Shipping
We’ve said it once, and we’ll say it again: People love free. Maybe hearing the word takes our minds to a mountaintop overlooking an expansive forest or a beach far off the grid. Whatever it is, offering customers free add-ons just plain works and the numbers don’t lie. According to a comScore survey, 83% of online shoppers take actions, including 58% who make another purchase. If you don’t offer free shipping, through a minimum purchase, promo code, or even the slowest transit time, you fail to take advantage of our obsession with ‘free,’ and your sales will suffer.
Use Strike-Through Pricing
eBay’s Strike-Through Pricing (STP) feature offers sellers the opportunity to show an undiscounted price literally slashed into a cheaper price. If you are selling a product at a discount, this is the best way to let potential buyers know. Psychologically, discounts create a sense of exclusivity and urgency, tempting buyers to cash in on a deal, regardless of the actual savings. Using STP to highlight the original price will make the current price more appealing and increase the chances of selling the items.
Don’t Neglect the Analytics
Like any good business, eBay puts effort into collecting and analyzing the data the marketplace produces. You can improve your business by capitalizing on all the data eBay provides you. Free of charge, eBay metrics include per product click-through rates and sell-through rates, both of which can help identify product listings that lag behind the competition and call for improvement. There are competitors out there taking advantage of these offerings, so it is in your best interests to follow suit.
Keep Robust Product Listings
So you entered the brand and model of the camcorder you’re selling; job done right? Not even close. Consider how many other of the exact same camcorders competitors are selling. In such a vast marketplace, differentiation is key. What color is it? How much memory does it hold? Does the purchase include a shoulder strap? The more detailed your product listing is, the more likely a customer with very specific desires will find the perfect listing courtesy of your details.
Correct Customer Feedback
Whether the negative feedback you receive is warranted or not, your seller rating will take a hit regardless. Avoid wrongfully-deflating seller ratings by consistently monitoring your feedback to catch any that do not belong. Any post that pertains to the customer’s displeasure with the product should be removed; after all, you shipped that Hello Kitty watch professionally and timely, and it’s not your fault the buyer didn’t find the wristband sparkly enough.
Bring up these comments with eBay and explain why they are irrelevant as a review of you as a seller. eBay will usually agree to remove it. Similarly, eBay will often remove any valid complaints if you can prove you completely resolved the issue. Seller ratings will make or break you, so pursue all options for improvement.
eBay offers sellers a wide variety of features, and you should embrace them if you want to make the most out of your presence. Know of any other opportunities to improve your selling record on eBay? Let us know in the comments!
Contributing WiseWorder: Jack Symington