In late March/early April, we surveyed on-line sellers and requested them in the event that they have been glad with how on-line marketplaces attracted consumers to their websites and the simplest methods of doing so.
We carried out the survey in collaboration with eBay resellers Don of “The Auction Professor” YouTube channel and Dom of the “Prime Time Treasure Hunter” YouTube channel, who’re each sellers and members of affiliate packages together with eBay and Amazon.
Over 300 sellers responded to the survey, and the outcomes are fascinating to anybody who sells on on-line marketplaces. 47% self-reported as fulltime sellers; 42% have been part-time sellers; and 11% have been “informal” sellers.
In addition to asking questions, we invited sellers to share their ideas within the feedback part, and this offered colour into why they answered questions the best way they did.
Best Ways of Marketing to Attract New Buyers
We requested sellers, “What are the simplest methods on-line marketplaces can entice consumers?” and requested them to rank the next 5 strategies so as.
Ads on search engines like google and different paid searchAffiliate advertising and marketingEmail advertising and marketingSocial media marketingTV / Radio commercials
As proven within the following slide, sellers ranked Social media advertising and marketing as the simplest adopted intently by Ads on search engines like google and different paid search. TV and radio commercials got here in third place. Affiliate advertising and marketing adopted in fourth place, barely outranking Email advertising and marketing.
Which Marketplaces Are Best at Marketing to Attract New Buyers
We offered the names of 6 marketplaces and requested sellers to rank them, asking: “Which on-line marketplaces do one of the best job of promoting to entice consumers to their website?”
Amazon was the clear winner, with every of the remaining marketplaces having a slight chief over the others within the following order: Etsy, eBay, Facebook Marketplace, Mercari, and Poshmark.
How Well Marketplaces Use Incentives to Attract Buyers
We offered the names of the identical 6 marketplaces and requested sellers to rank them by asking, “Which marketplaces are the simplest at utilizing incentives to entice consumers?”
The outcomes have been very comparable to the earlier query, with Amazon rating first, with one notable exception. Sellers believed eBay did higher than Etsy at utilizing incentives (by greater than just a little), as the next slide shows:
Marketing Focus: Everyday Items vs. Luxury Goods
Finally, we requested sellers, “When it comes to attracting new consumers, is it more practical for marketplaces to focus their adverts and advertising and marketing on on a regular basis gadgets or luxurious items?
The majority of sellers (71%) thought it higher to give attention to frequent on a regular basis gadgets. Fewer than 4% felt it was higher to give attention to luxurious/costly gadgets. And over 1 / 4 thought it was higher to give attention to one thing else (26%).
Comments: Sellers Want Marketplaces to Advertise
We requested sellers to depart feedback associated to how on-line marketplaces entice consumers and the way efficient these strategies have been – together with the place they excelled and what they need to be doing.
Social media adverts have been steadily cited, similar to the vendor who advisable marketplaces run “repetitive adverts that present up in your social media reminding you of the gadgets you have got clicked on.”
Another stated, “Ads on social media and Google search outcomes have gotten to the be crucial approach to promote.”
“They must be doing a little frequent sense commercials on TV relating to searching for something on their platforms,” one vendor stated. “There are a zillion commercials for every part else however I’m not seeing TV adverts for any of the above listed Marketplaces. TV adverts are the place I believe these Marketplaces ought to be.”
Plenty of sellers particularly talked about YouTube and Netflix. “Network TV goes away, however direct video promoting remains to be a factor,” one vendor wrote.
Sellers Want to Know Where Traffic Is Coming From
One vendor stated within the feedback part that it was tough for sellers to know what was simplest as a result of marketplaces didn’t share particulars about the place site visitors and gross sales are coming from. “On eBay we’re principally blind as to if or the place consumers come from. In the previous, there have been instruments to observe web pages that despatched prospects that ordered and paid. eBay ended these instruments a number of years in the past. I don’t belief the information eBay exhibits for promoted listings.”
Sellers identified that attracting consumers is vital, however what they see after they get to {the marketplace} is simply as vital – having what consumers need, in a approach that they will discover these gadgets, and having expertise, are all important. “TV Ads, media blitz, attracting strong sellers with nice gadgets and costs,” wrote one respondent.
“Inflation had hit laborious, everyone seems to be on the lookout for a cut price, give them one,” stated one other
Sellers Want Marketplaces to Fund Marketing Campaigns
Marketplaces encourage sellers to promote their very own listings, however quite a few sellers stated within the feedback that marketplaces must be funding campaigns that publicize {the marketplace}.
“They must be taking over the promoting prices, it’s their platform, which they appear to continually overlook,” one respondent wrote. “We principally “hire” area from them so if they need extra prospects coming there then they need to be paying for it.”
“eBay, years in the past took away vendor reductions to pay for elevated promoting, which they need to have been offering website promoting any approach as a price of enterprise, then 6 months later lower approach again on that promoting,” a vendor stated. “Nothing greater than a approach to improve earnings at vendor’s expense.”
That remark seems to be a reference to eBay’s justification for elevating charges in 2017, reported on the EcommerceBytes Blog on the time.
Another vendor wrote, “eBay wants to be doing extra promoting interval. Instead of doing inventory buybacks, the cash ought to have been spent on lobbying to not have the $600 threshold. Most on-line promoting websites will see a dramatic drop starting of subsequent 12 months with much less sellers.”
Sellers Want Marketplaces to Promote Everyday Items
Some sellers commented on eBay’s current give attention to selling luxurious items. “I promote on eBay. Dismayed that they’re pushing luxe gadgets as a substitute of the on a regular basis gadgets and bread & butter collectibles that constructed the platform.”
Another wrote, “eBay actually turned off my prospects with their current announcement to give attention to luxurious items. My prospects have moved their purchases of on a regular basis items to different platforms. Disparaging and ignoring your core classes and prospects is making for a quick demise.”
Another stated Etsy can also be responsible of excluding sure classes. “They promote their backside line, subsequently high-end gadgets. I refuse to pay extra cash for promotion. I promote on eBay and Etsy and do all proper, however don’t really feel “promoted” by them when their promotions hardly ever embody classic/antiques.”
“I promote on Etsy and though they do tv promoting, not one of the adverts whether or not television, e mail, and so on. apply to what I promote,” one respondent wrote. “There are 1,000s of provide retailers that really feel under-represented by Etsy’s advertising and marketing division.”
“Each market wants an identification that matches the products offered,” wrote one other vendor. “Amazon does job of being the every part retailer, however others similar to eBay has an identification that now not suits what it’s promoting (used versus new merchandise).”
“I really feel that they’re centered on a small phase of the consumers….when that dries up, then what,” a vendor requested. “They want to stick with what made their enterprise within the first place, identical to Sears eliminating the catalog. Companies get massive and have a tendency to overlook after about 45years what made the corporate nice within the first place…new administration will get in there and the who mannequin will get messed with to the detriment of the entire firm. Stick to what made you nice within the first place. Word of mouth is a really highly effective instrument. Stay the course and maintain all of your prospects equally….they’re all valued and value your time. If not, then why are you of worth to me the client?”
“After this pandemic lots of people can’t afford luxurious gadgets,” stated one vendor. “I’d give attention to the on a regular basis and customary gadgets individuals want or need. I for one wouldn’t purchase a luxurious merchandise on-line in any respect.”
“I’ve by no means seen an advert or business for used clothes and jewellery. Someone wants to ramp up the phrases “used” and “classic” to present how lovely pre-owned gadgets may be,” stated one other vendor.
Sellers Embrace Nontraditional Marketing
There have been a number of references to supply automobiles sporting Amazon logos as being an efficient advertising and marketing methodology. As it seems, Amazon not too long ago kicked off an advert marketing campaign utilizing its supply vans as “cellular billboards,” which we wrote about on the AuctionBytes Blog on Sunday.
Another vendor stated, “I believe for as a lot as we sellers pay in charges all on-line marketplaces may do higher at providing direct incentives through coupons or multi-item reductions out of their pockets.”
“Commercials and incentives providing offers,” wrote one other. “Like Amazon has Prime Day. eBay wants to provide an incentive to get individuals to the positioning.”
“I believe platforms must be encouraging on-line influencers via monetary incentives to curate their favourite merchandise or classes on their platforms and share these in partnership prize coupon giveaways to followers. Amazon is an element approach there with their Influencer touchdown pages, however their restrictions on “qualifying” for a web page are EXTREMELY ANNOYING!”
“I’d like to see on-line marketplaces promote on sport apps,” stated one vendor. “That appears to be the place I spend my free time. LOL!”
“eBay wants to convey again the eBay bucks program,” wrote one other respondent. “This was a terrific small incentive to get the client to come again to eBay for the following factor they needed or wanted. They additionally want to convey again coupons, even small ones, similar to a $1 or $2 off $10. They want radio and TV adverts, search engine adverts, or social media adverts emphasizing the nice vary of things discovered on eBay, which has all the time been eBay’s biggest benefit over all different marketplaces together with Amazon.”
A observe about survey rating questions: SurveyMonkey weighs the responses in reverse so {that a} respondent’s most most popular alternative (which they ranked as #1) has the most important weight. This is completed to be certain that when the information is introduced on a chart, it’s clear which reply alternative is most most popular.
Our survey collaborators shall be overlaying the survey on their YouTube channels – make sure to be careful for his or her tackle the outcomes.
And try the AuctionBytes Blog for extra details about the outcomes across the situation of promoting Luxury Goods vs. Everyday Items.
Ina SteinerIna Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She’s a broadly cited authority on market promoting and is creator of “Turn eBay Data Into Dollars” (McGraw-Hill 2006). Her weblog was featured within the e-book, “Blogging Heroes” (Wiley 2008). She is a member of the Online News Association (Sep 2005 – current) and Investigative Reporters and Editors (Mar 2006 – current). Follow her on Twitter at @ecommercebytes and ship information ideas to [email protected]. See disclosure at EcommerceBytes.com/disclosure/.
https://www.ecommercebytes.com/2022/04/20/seller-survey-results-how-to-attract-buyers-to-online-marketplaces/
