Market | PROMOTIONS
are your promotions really working for you?
do you have the time to invest properly in marketplace promotions?
As retailers, you are no doubt used to running promotions in your stores and on your site. Perhaps to clear end of line stock or boost sales to generate cash.
Marketplaces are no different from your other channels. They require maintenance and attention and TLC from you to get them purring. Most channels know this and have been adding promotional tools and functionality that, if you know how to use them, will enable you to steal a march on your competitors.
We work with you by advising on the tools available, what they are capable of and by implementing and monitoring the campaigns you want to run.
We report on performance so that you can make decisions about what works and what doesn’t to ensure you get the returns you need.
when it comes to promotions you have options
LET’S TAKE A LOOK AT SOME OF THE TOOLS AVAILABLE
Offering savings to buyers to encourage them to buy more has long been a cornerstone of promotional activity.
Both eBay and Amazon offer this functionality which tends to work in a couple of ways:
- Offer a % of saving for multiple purchases of selected items
- Offer a fixed amount offfor multiple purchases of selected items
- Incentivise a shopper to buy complementary items from you which they may not be aware you also sell.
If you offer free shipping, this generally means you can offer these promotions at no cost to you. You can simply discount the shipping fees already included in the cost of the additional items.
These give you a chance to promote your product on external sites like social media posts, partner websites and other marketing campaigns, driving traffic to your store or listing and giving you the ability to measure the impact of the campaign.
We also use them to encourage buyers to sign up for our newsletters on eBay by offering them a 10% discount off their first purchase and giving them the voucher code to redeem the offer once they have subscribed.
It takes regular maintenance but is a good way to encourage repeat purchases.
On Amazon, this is part of the Order Discounts functionality described above but on eBay it is distinct functionality.
Shown prominently to buyers, you offer discounts to buyers for purchasing in quantity. Unlike Order discounts, this relates specifically to multiple units of the same item but, just as with checkout promotions, if you build the cost of shipping into your prices, you can offer discounts without actually costing you any money.
Amazon Business works on a similar premise: offer discounts to buyers looking to buy in bulk.
All options can be good ways to grow basket size and, ultimately, your bottom line.
sale events & markdowns
If you are putting your products on a discount, are you promoting it? Are you showing buyers a saving? Too many eBay sellers still have the nasty habit of simply dropping the price on their feeds to eBay. This is a big no-no.
Instead, use the Markdown Manager first. This will show buyers % saving in red on the listing, implying the need for action as the saving is perceived as on a limited time only. (You can now get this permanently with an Anchor Store subscription)
Then, use the ‘Sale Event’ to promote the opportunity. Give buyers the knowledge the discount is not going to last and they need to ACT NOW WHILE SUPPLIES LAST!