eBay Strategies eBay Training

Have you ever looked at eBay Sales Reports ?

Sales Reports on eBay is very useful tool to give better direction to your business. You MUST read and use these reports if you want to:

  • Know what sells
  • Get ready for busy months
  • Keep your loyal customers
  • Up sell to the existing customerseBay Sales Report
  • Minimise surprises

Sales reports are free and Sales Reports Plus is £3.00/month which is
nothing compared to what you get out of it. I have taken in three reports with
particular item which is important to business from my perspective. However,
there is plenty of data that are useful and easily spotted which I have not
wasted my time writing on !


Sales Summary


Sold items% – I will be worried if there is no increase in this value. If
there is decrease you I would be looking why my items are not selling more ? Is
there problem  with price ? Is there problem with feedback  ? I would
definitely check my competitors price.


Avg. Sales Price per item – I am not too much worried about this figure
because you could be selling low priced item. However, you can formulate a
strategy to sell cases of the popular product so that you are selling more to
one customer which is easy operationally.


Repeat buyers %
– Most of the eBay buyers are unique. Repeat buyers are great
sign of better customer service and product. Repeat buyers are there when you
are offering prod
uct having short span of life and they come back to you rather
than wasting time for other suppliers if they are happy. It is very important to
keep buyers happy with better packaging, quick dispatch and better customer
service. These are the customer who will talk about your business to their
friends and families !


Net eBay and Paypal Fees
– If you get % of this against sales, you will get
average eBay and PayPal fees which will help you setting up the price of the
item.


Listing Feature Fees
– I would keep this to zero. You could be paying for the
extra picture feature fees without knowing. Keep an eye !
Have a look at why
you should be paying for it.


Sales By Category


Sales Vs Ended items – Increase in sales results more ended items  which
is why it is best to invest on the software which automatically relists or shows
the data of the stock availability across the sales channel. Be mindful of not
showing stock with less than certain quantity. This will prevent loss of sales
opportunity from ended items.


Sold Item % – This helps to show how much you sold in certain category
indicating you to invest more on that particular stock if you have the
increasing trend from past. It is also wise to compare this data with past years
so that you know if particular category demand normally increases in particular
month. This will help you to buy the stock in advance ready for that month.


Repeat Buyers % – This will show you if you have loyal customers which is
good thing and you know you should be keeping up with the stock all the time.
The last thing

you want is your loyal buyers come in to your store looking for
the product and its not there !


Marketplace Data by Category (All Sellers)


Sold item % – The month-to-month comparison shows you the increasing /
decreasing demand of the product. You will get the right answer when to stock
right product if you look into the past years data. Similarly, it will be nice
to create strategy like case deal, free shipping on the peak month. Don’t worry
too much about free shipping, you just need to add shipping cost on the top of
the item price. However, you should only take cost of the shipping while adding
on the top of the item price. Believe me it works !


Avg. price per item – You know what sort of price people are paying on
certain category. It is good idea to explore the category with high end average
price. This will also help you to try multi-buy deals on the certain category.

I would advise you to look into these reports every month so that you don’t miss
out the opportunity. It is also wise to look into these data when you are
planning for next period of time so you know when you should be contacting
suppliers. All these will help you to know exactly when you should do what !
Isn’t this helpful ?

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Amazon Strategies

Amazon Business Report for sales growth

Business Reports by Amazon is an excellent way to track your sales based on time and product. This will give you insight on how popular is your listing, where do you stand on winning buy box, what is the average order value. One of the part of report is “The Detail Page Sales Traffic Time Series” report. 

Traffic: Traffic indicates which products are being discovered most often by shoppers. Products with higher sessions and page views are being found most frequently. In order to increase traffic use appropriate title, provide good item description and include relevant keywords at keywords search listing field. 

Buy Box Percentage: If multiple merchants are selling a particular product, Buy Box Percentage indicates how often your offer is featured when a shopper views the detail page. Merchants who win the Buy Box have a greater chance of gaining the sale. Follow following to win Buy Box win  

a. Low total price, including product price and shipping cost.
b. Fulfil your order on time
c. Keep a low refund rate resulting your error
d. Maintain low negative feedback ratings (generally less than 5%).
e. Maintain low number of A-to-z Guarantee claims.

Conversion: Conversion is a good measure of how often users actually purchase the product that they view. You can increase sales by increasing conversion. Start first with products that have a lower conversion rate than others.
a. Provide complete product content to make a decision.
b. Use promotions “Free Shipping” to increase conversion
c. Provide high-resolution primary image (300 dpi or higher). Include more images if necessary to give customer insight of product look from different angles. 

Order Session Percentage: This is a percentage conversion metric indicating how many orders were generated relative to the number of people who viewed the products. It is calculated by dividing the number of orders by the number of sessions for a selected time period and then expressed as a percentage. This is a good measure to check if your products need revision. 

Product Sales per Order: This is the average order size for the selected time series. It is determined by dividing the ordered product sales by the number of orders for the selected time period. Increasing value shows customers behaviour of buying multiple items. It is best to encourage this behaviour by reducing the cost of shipping.


Also Look at these two links
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eBay Strategies

eBay Pulse and Bay Estimator Tools for dummies

eBay Pulse is very useful tool to find out popular results based on certain category. 

– popular searches performed by users. This is easy way to see what people are looking for on eBay or within a category. You can modify your listing title based on this popular words which will give better visibility.

– popular shops based on number of active listings. This is a good way to look which business is doing well. It is easier to look at what your competitor is doing and how you can differentiate yourselves. You can dig detail by going through their prices which will help you to revise your prices, feedback to check what are they selling the most and individual items sold number to see if they are selling what you want to sell.

– most watched items helps you find out what sort of goods are most in demand

These are all very good intelligence for steady growth of your business and you are relying on correct data which will give you strategic direction.

Another useful tool is Bay Estimator. The Popularity column can be use to determine relative popularity of search queries. The result is base on the time frame search is carried out. This is cool tool for seller what wants to find out what buyers are looking for. The  Availability column is the average item count that may be returned when search is carried out. When select to look into the most popular search query you will get following results:

– The BayEstimate for each search below estimates how well your title will perform when a buyer performs that search

– Keywords buyers like/dislike when searching for the title entered

Suggested category for listings

” I love this tool! I had no idea it even existed or that ebay labs was out there. I went through each of my listings and used the suggested key words. Wow! My sales have went through the roof this week! I agree the dots are weird, but I have gotten use to it, I like it better than the percentages, I would like to see that come back in the catagory selection search area. It helped there alot. I hope it stays free as well. Sellers deserve whatever it takes to up their sales and keep ebay alive and well! Thank you! “

There is easy to understand instructions on how to use this tool.

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Amazon Strategies Uncategorized

Amazon Prime – Brilliant way to lock customers

Customer Retention is the best way to grow your sales over period of time. Customer Retention costs less than acquiring new ones. This is the basic reason businesses try to encourage loyalty. Research shows one of the reason prospective customer do not buy is high shipping cost.

Amazon has cleverly rectified this problem with offering free delivery with minimum annual fee.Amazon’s strategy to lock-in customers with services like Amazon Prime and will help the retailer gain share in the online retail market.

“It also works because it exploits some very simple human psychology. Your best customers enjoy the pleasant, repetitive sensation of profiting from every purchase while your business still nets more money – either from the customer’s greater loyalty, or simply because the revised pricing causes them to spend more on your services overall.”
  Rory Sutherland, Campaignlive

Following Amazon prime strategy will be costly in the short run but will increase sales in a long term.

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eBay Strategies

How to Showcase your eBay feedback with Yahoo Pipes ?

Every new retailer’s aim to gain trust from the visitors which ultimately leads to sales. It is quite a lot of work and time to aggregate customer feedback. It is known fact that most of the online retailers start of eBay shop to start with. Why not showcase your customer feedback from eBay on your own site to gain customer’s trust !

The tool you need is Yahoo! Pipe, which aggregates your eBay feedback. This tool will let you create a RSS feed which you can turn into a widget with WebRss. You can easily grab code off WebRss and showcase it on your home page. Here, is the simple widget created for you

 

 

 

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Amazon Strategies eBay Strategies

Why somethings sells on eBay does not Sell on Amazon ?

Multichannel seller must have noticed what sells on eBay necessarily does not mean it will sell on Amazon and vice-versa. There could be various reasons.   

Ebay and amazon

Familiarity:

Some are familiar with fixed price on Amazon and go for it as they normally do rather than waiting for the bargains on
eBay auctions.  The search results on Amazon are lesser than eBay since Amazon shows result by the product and then you can look to buy from different sellers whereas eBay shows result by all seller and you can decide on various criteria like prices, P  & P, Seller Seller Status.

Buy Box:

There clever “Buy Box” invention works very well on Amazon providing this facility to the good rated sellers with lower price of the item. Buyer buys without having to go through rest of the sellers. This speeds up the buying process. Absence of this facility on eBay may be a good reason when something sells better on Amazon.

Customer Type:

Delivery promise fulfilment is another factor that affects sales. Most of the eBay customers asks “Where is my item ?”
even if dispatch emails are sent and they are made aware on the listing the expected delivery time.  This normally does not happen on Amazon. Probably Amazon customers are more convinced on Amazon delivery time compared to that of
eBay. 

Experience:

Experiences buyers who had negative experience with eBay has good opportunity to switch to Amazon. Unlike eBay
Amazon has their own Warehouse for stock and dispatch orders themselves which is very important factor to build up trust among the buyers.

Product Reviews:

Amazon has user generated product reviews that speeds up the sales thought process resulting sales unlike that on eBay. 

These may not be good reasons for selling on Amazon but the fact is the Amazon is growing more that eBay and don’t forget more stores = more salesIf you can, always try to add sales channel. It does not hurt to try Play Trade, Asos Market Place or eBid.

 

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Customer Relationship Management

Recycled Packaging, Is this any good ?

Sense of recycling is increasing. With reduced polythene bags being given out from Super Market shows companies are actually helping to reduce the waste. Why not take advantage of this thought and recycle the packaging to complete the online orders ?

You can easily source the cardboards from your local businesses alike Cash & Carry and don’t forget McDonand’s. Most of businesses are happy to get rid of their recyclable waste for nothing. One thing I got to admit that their Fries Boxes are the strongest among all. What about “bubble wraps” ? These can be replaced with shredded paper or used shrink wraps. The main aim is to secure the Packaging and job is done without spending a penny !

How would customer take this ? Like I mentioned earlier most of the customers have sense of reducing waste. But DO REMEMBER to pack gift items like Fragrances in a best packaging available. At Concord Extra we have used this method from past three years and haven’t had any complaints.

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Amazon Strategies

Amazon Feedback, why is it important ?

Customer feedback is the normal way of checking out the seller. Trust is gained or lost immediately with feedback. For this simple reason feedback is important. Better feedback results better sales conversion. 

It is a fact that 90% of Amazon customer fail to leave feedback.  Most of the time customer are good and leave positive feedback but there are some portion who are dissatisfied and it is always good to pay attention to these customers. Always communicate with customers clarifying the problems. Let them know what is expected. Most of the time negative feedback is received when unexpected things happen. If order processing is delayed, explain why. If there is faulty item offer refund or replacement. It is best to do so as soon as problem is reported. Do not wait till you get the faulty item back. It is obvious that you get positive feedback when you satisfy your customers. I am not denying that you will always get odd ones who leave negative feedback before contacting you regarding the problem. However, you can always reply their feedback professionally.

Amazon feedback is important to win “buy box”. The “Buy Box” is the box on a product detail page where a customer starts the purchase process by adding an item to their shopping basket. Even if your price is higher you will win the buy box provided that you have better feedback. Your sales is maximised ! I came across Amazon Service called “FeedbackFive” which  clever enough to request your customers to leave feedback. Proactive communications can also let your customers know that you care about their buying experience, and can give you the opportunity to address issues before they become a larger problem.

Winning Amazon Buy Box

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eBay Strategies

What can you get out of eBay Detailed Seller Ratings ?

eBay buyers are very smart consumers who have not been well informed regarding the  feedback rating system – DSR’s.

Detailed Seller Ratings - DSR

Based on the above definitions, it would mean that:

  • the description was accurate
  • you were satisfied with the communication
  • you felt the item was shipped quickly at a reasonable cost

Unfortunately, the reality is that any rating lower than 5 eBay feedback star eBay feedback stareBay feedback stareBay feedback stareBay feedback star‘s can have a significant negative impact on sellers and the eBay community as a whole because eBay has structured the system to reward sellers with over a 4.5 average, and to penalize sellers with under a 4.5 average.

Yet from the wording of the allowed ratings a buyer would never know this and most would naturally assume that a 4 star rating is a very good rating. After all, staying in a 4 star resort is considered to be very good in the real world and 5 star resorts are rare (and extremely expensive).

If a seller has a 4.6 or lower rating, eBay will penalize that seller by disadvantaging that seller’s items in search, and they will lose any eBay fee discounts they may have previously enjoyed.

What does this mean to you, as a buyer?

Unfortunately, what this can mean is higher prices. The more fees eBay sellers pay, the more they must charge for their items. When a seller’s items are disadvantaged in search, sales slow and prices increase.

Sellers understand they must earn your positive feedback and want to hear from you if you feel that the transaction was less than a positive experience. We strongly encourage you to email the seller with any problem and allow them the opportunity to resolve your issue. People are basically good and that most problems can be worked out amicably between the two parties.


Did the seller:

  1. Quote the shipping price in the original auction listing?              
  2. Ship using the method stated in the auction?
  3. Pack the shipment safely, using appropriate packing materials?
  4. Charge a reasonable shipping price, compared to other online sellers?

The answers to these questions should guide buyers toward the correct star rating.

eBay’s Performance Reports helps you to find out the areas of improvement. The charts gives you insight of what actually is going on and where you should target your improvement.

  • Low ratings trends chart shows the percentage of low ratings (1s and 2s stars) over total ratings for the past 12 months. If low ratings are increasing, take action. If low ratings are decreasing, you’re doing the right thing.

  • Areas for improvement chart shows groups of similar comments by buyers when they leave Feedback. If you see a high number of the same comments, you’ll be able to address this area.

  • Low ratings vs. sales prices chart shows which price range receives the highest percentage of low ratings.

  • Low P&P ratings by region chart shows if low ratings are unique to a particular region in the UK.  If so, you may want to use a different postal method, or communicate that there may be delays to these buyers.

  • Low ratings by category chart shows the distribution of low ratings by item categories. If you’re receiving low ratings in a certain category, you may want to investigate your processes in these categories to find the problem.

You are now in control of your performance. The quicker you take action the quicker you get benefit. You need to remember that the changes to be require lot of time but it worth the result

eBay Top-rated sellers receive the following privileges and benefits:

There is tool called DSR Selling Report which gives you last 30 days. After making changes keep an eye on the ratings chart or DSR Selling Report to check if your recent action helped or not.

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eBay Strategies

Can eBay Be Used as a Customer Acquisition Tool?

eBay is very important customer acquisition tool because you have a customer who already trusted you to spend money !  Here are some suggestions, they are not exhaustive and they may work in some categories and not others: First, eBay considers every registered user as their customer, but in reality, eBay’s only customers are the sellers who pay them fees, so if an eBay user buys from you they are now your customer. You need to treat them as such.

Provide a mailing list opt-in option on your website so that you can reach out to them with specials and other marketing initiatives. You can download sales data which includes your customer email address. You can then send your customer customised thank you or dispatch emails with opt-in options. There must be incentive for the customers to visit your store like free shipping or discount on first purchase. eBay marketing is targeted marketing and very effective as they are already your customers and you know what they want to buy.

Research your eBay competition. Check their completed sales to see what is selling. Identify, through your sales history, those items that have the highest potential for success and list them in core. Use store inventory for potentially less successful product that will add breadth to your eBay listings and provide additional exposure. The key here is to limit what you list on eBay. Only list items on eBay that you have the most confidence in. Clearly spell out that you have a far greater selection of product on your website and if possible use checkout redirect to allow them to complete their order on your website. Some customers don’t like this so weigh your options. Do not go overboard on your eBay listings or your expenses will quickly get out of control. Remember, the key is to use eBay as advertising so come up with a budget you can live with and limit what you list on eBay. Use eBay’s sticky apps like MyWorld, Guides, Wiki’s , Blogs and place a link to you website on your About Me page to introduce yourself to potential customers. Please read eBay TOS (Terms of Service) to make sure you are not violating any rules.

The key to using eBay is changing your mindset. Once you see eBay as a marketing tool you can use your creativity and product knowledge to drive your customers to your website.

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