eBay reviewed four ways sellers can run promotions on its platform in a new post and recommended sellers use them to stand out in a crowded marketplace – “Promotions are a great way to generate sales and incentivize buyers,” it said.
The post comes a day before eBay makes its Seller Tools team available for questions in a monthly chat session and in fact ended Tuesday’s post with a recommendation to sellers to join the chat.
While some sellers may grouse at having to discount their prices in order to get sales – especially during a period of rising costs, others who are desperate for sales may welcome the refresher on running promotions.
A graphic shows four types of promotions eBay offers sellers:
- Sale event/Markdowns
- Volume Pricing/Order Discount
- Seller Initiated Offers
- Coded coupon
eBay cited the following three ways promotions can benefit sellers:
“Firstly, it makes your listings stand-out, highlight a good price and can also help you close the deal – this is true with large promotion offers like sale events but also with more specific targeted offers like offer to buyers.
“Secondly, it is a tool for you to accelerate velocity of sales of specific inventory, like seasonal items at peak time or old stock you’d like to clear. Volume Pricing, Order Discount and Coded Coupons are also tools to help drive larger orders by encouraging customers to buy more.
“Thirdly, while all promotion type have an emotional factor – some are stronger at building a specific rapport between buyers and sellers, like sending a coupon to a buyer – which can help you build a loyal set of customers, encouraging your buyers to come back to your listings.”
One capability eBay offers that may be overlooked by sellers: “Once a buyer has bought from you, you can engage with them with personalized promotions to get them to shop with you again. You can do that using Buyer Groups, where you can segment buyers and send them coupons that are personalized per their purchase history.”
You can find the full post on the eBay What’s New board, and you can learn more about Wednesday’s chat session (and leave a comment) on the EcommerceBytes Blog.
No way Ebay. No promoted ads for me. I’m doing better selling on other platforms vs. Ebay and they don’t charge promoted fees.
From what I’m learning there are several “new” platforms causing chaos for EB: Whatnot and Haulsale are the new kids on the block. Plus (Ina check this) Goodwill is going into the Auction business for sellers. WASTE NOT WANT NOT.