Webinterpret at the recent eBay seller Meetup in San Jose
Peter Voet, Webinterpret’s Senior US Business Developer, attended the recent eBay seller Meetup in San Jose where Advait Behara, eBay’s B2C Seller Experience Manager, educated sellers on tools and tips to lock in more buyers. Check out Peter’s account of the event!
This Meetup group certainly knows how to attract a crowd full of inquisitive sellers looking to grow their business. It was an evening full of eBay questions from sellers that were energized by excitement and left with self-empowerment. Top Rated Sellers attended this seminar and discovered new ways to attract more customers.
You have 4 seconds to stand out from your competitors
Four seconds. Four seconds and your online customer could have already scrolled past your listing and started to buy from your competitors.
- How did that other seller quickly steal the spotlight from your listing?
- Why didn’t your pricing stand up against theirs, and why are they selling more units?
The “Urge to Splurge”, as some would call it. It’s an impulse purchase created by discounted shipping or bundled pricing. Many sellers aren’t aware of this or don’t know how to use what is available.
Being stuck in either position, turns 4 seconds into profit loss.
Attract more online shoppers to your listings
Just like customers in the retail environment, online shoppers tend to be attracted to discounts and savings. To make your listing more irresistible, use relevant tools and offer discounts:
- eBay’s free Promotion Manager tool, not to be confused with the fee-based Promoted Listings tool, attracts such customers.
- Order Size Discounts provide the incentive to save money when they spend more money.
- Codeless or Digital Coupons to select buyers can increase repeat purchases.
- Shipping Discounts can take the customer’s mind off your price, increasing the likelihood of finalising the sale.
- Sales Discounts will quickly produce sales if competitively priced.
- An eBay store that promotes with Accessory Discounts can encourage the shopper to place extra items in their cart.
- Lowering the profit of one item to increase your total profit simply makes sense.
Additionally, bear in mind the following facts and tips:
- Shorter promotions generally provide a better result.
- Change promotions every 15 days to test out which works best for your company.
- Adjust the priority levels for your promotions positions.
- You may find a trend where customers buy based on a different pricing strategy, but you end up making bigger profits.
- Sellers that are afraid of being taken advantage of can place restrictions as well. Offers can be limited based on categories, prices, return policies, or other style listings.
- Save yourself time by renewing expired promotions by copying/pasting the offer, and making the needed adjustments.
The idea is to do what eBay does…
…attract more visitors to your store, turn them into buyers, increase the average sale, and deliver a great experience to bring them back.
It may not offer a ranking advantage or appear in several locations like an advertised listing would. You may have to actively record the results, try different offer periods, or even alter your strategy during certain times of the year.
There is a psychology to buying just like there is to selling. eCommerce tells us to move fast. But we need to take the time to promote our listings strategically.
Sell more, and sell more often.
Interested in selling internationally on eBay?