Share your tips for increasing sales

[vintagechinashop]

Good afternoon to you all 

it's very easy to get bogged down with negativity. I for one have in recent times been quite negative, but this morning I had a sale and yesterday I had 3 so I've decided to try and be positive in these uncertain times 

so I thought it would be a good idea to start a positive post 

would anyone like to share your tips for increasing sales. Something that has worked for you maybe or something you are trying to see if it has results 

I know there's no magic wand to be waved but let's see if we can try to improve our sales by sharing the love 

my first tip is to use sell similar on ended listings and to change just one thing. I think in the past I have been very complacent and just need to up my game a bit. I've been taking fresh photos of ended items to refresh the listing 

over to you 

[fatbobfan]

Hello Jo

Looks like the hard work from last year is paying off,  (everything crossed) 

Sticking with the plan of running coupons for the first 2 months of this year, 4 'groups' by increasing price every 2 weeks then March 1-15th looking at my stock against competitors and pricing accordingly.  March no coupons, just price matching my competitors, alllowing 14 day rule (I think thats right) for all inventory to be avaiable for coupons again

If this works (fingers crossed) April 1st will start the cycle again.  Hoping this quarterly 'pattern' will free up time, its so easy to be hooked into working/tinkering all the time on this platform, that will change.

ROAS at 26.21, still tweaking my PL standard rates for my better

Its the 8th of Jan and you feel its March? 

[ojewellery]

2024 is starting okay.  My Dec 23 was 37% up (Turnover) on 2022 across platforms.  My Q4 Turnover was 3% up - I had a really poor October so I'm quite pleased with that.  But my financial year to date is 11% down on turnover 2022 - I'm hoping by year end this will be much healthier as its already significantly improved with the healthier Q4.  The get my head in the right place on this thread came at the right time.

@fatbobfan I don't think/ I've never experienced, any overlap issue or restriction on coupons.  The 14 days no material change in price rule i.e. price or postage, is for running sale events.  I'm a big fan of rotating promotions and sales though - having a marketing plan for promotions and offers.  My 2024 plan is a bit of a rough draft at present, I keep getting distracted.  It is however only day one of the children back at school so I won't be too hard on myself.

I had a nice little win today, I made it onto the #ialso100 list for f:Entrepreneur   I now need to try and do my best to work on my social media profiles to make use of the potential exposure.

[ojewellery]

I should say I'm well aware turnover is a vanity metric, its just much quicker to plot/ obtain from the platforms.

[bojangled]

@fatbobfan 

Only feeling the January blues because had this cold thing that feels like Covid but isn't since NYD. Done the bare minimum on eBay this last week, but did at last submit my tax return. (And as usual vowing to do it by the end of May this year!)

Your plan is very positive and I need to get my head back in the game as you and @ojewellery  are inspiring in your future marketing plans.  That's why I like this thread.

I did have a good December, figures are good, but can't really compare to 2022 as I gave up during the strikes and RM international security issue. 

Jo

[sheba-knows-best]

Hi Jo.

Me too! Or similar. COVID from Dec 23-nowish really. Not too bad - the physical symptoms tend to energise my brain which gets frustrated by the inability of the body 😋   (I know loads of people get it far worse). Missed my coldwater swims, most of all, which is my main exercise (5 times a week!). My daughter and I watched Broadchurch over Christmas... I know, I know... late to the party... wow! wanna new neighbour???

Anyway - an update - I'd turned off on 19th Dec I think (sales but no dispatch until after xmas). As soon as I turned on again on Dec 23, sales went mental - all at 2% PL - so much so that, unbelievably, I ended year 2023 with sales growth of 6% and... drumroll... profitability growth of 1%. I'd spent the whole run up to Christmas accepting that I was going to finally make a profit decrease y-o-y -and telling myself it was a tough year, which it was - and then that. I was floored. It felt like a real gift. I shut shop again briefly in the New Year for a trip to London - since then - sales have not picked up well...

So I'm now running at 79K - a steady trickle of sales - but nothing like last year. On the other hand, ROAS last 14 days is 22.95, for last 31 days is 22.6. I dunno... I reacted in the autumn to a slowdown with a 25% off coupon and uncapped dynamic PL... which worked massively, incredible pick-up but I paid for it with an ROAS of about 8, I think... it's on this thread somewhere. So I'm still reviewing how to react this year. Like OJ said, kids only just back to school, I need to think... 

Regarding promos: The problem with coupons, for me, -which I do tend to find drum up a lot of watchers - is that it doesn't work well with make an offer. So some buyers get annoyed when they make an offer and then can't use the coupon (understandably). But I still find make an offer my best selling tool, so am loathe to remove it whilst using a coupon. Decisions, decisions.

Sorry not to be more use. My new resolution is... take a beat 😄

[sheba-knows-best]

@ojewellery

I did mark you as a fav seller and I got your newsletter. I was impressed. I do think this is a good way to remind buyers who you already know like your stuff, to take another peep... So... thinking about it... this could be a good way for me to go too. As I am more and more aware that with my prices I needto keep in touch with buyers who share my ethics and taste.

I have ruminated over Christmas - on how another clothing seller 'scoffed' (in the politest possible way, no offence taken) at my stock/prices.  But I look at my items and think... wow you can spend £50 (and more) on one evening out. So a tweed that has been around for 70 years and will be around in another 70 years... for £150. Why is that expensive? Or I look at my leathers/boxy jackets from the 90s and see Seinfeld and value them massively. But this is other seller genuinely saw tat (meaning other people do too). The issue is how to put my items in front of the right buyers. And I come back to PL because ebay is soooooo overcrowded in clothing.... sigh... but yeah, a newsletter could be good... 

Nice thread - keeping the ideas coming or going around again xxx

[simplyessential_uk]

The issue is how to put my items in front of the right buyers. 

Always the issue and whether Ebay are actually doing that when you pay for Promtions  - Im dabbling with FB ads at present for my website rather than pay Ebay, but as you set your ads you can select Age groups/gender/location etc who you would like to target so until Ebay give more control other than keyword selection you really at their mercy and as you know lots of traffic isnt necessarily the "right" traffic, which is why the graphs we get are pointless other than when theres a massive plummet and you know then you are part of a test group 🙄  Not sure what the answer is other than open up your own Social media and drive traffic to your site (which I notice Ebay have started to put new funcitons on the shop) but then I take umbridge at paying ebay to drive my own traffic to them (which I wont do as I have my own website)
Im really wondering what exactly am I paying Ebay for these days with Ads they are now way more expensive than other platforms for me. 

Saw an interesting YT Vid last week by "Flippin aint Easy" entitled " This likely change may hurt some ebay sellers" if you watch and believe this is in the pipeline then Ebay may be changing (not for the better) in the next year however and sellers will have to plough more into ads but in my opinion not sure how that plays out if everyone is paying therefore prices increase and buyers look elsewhere so always cautious about speculation but interesting.

[simplyessential_uk]

addition @sheba-knows-best 

maybe setting up a FB business page and create an ad to drive traffic ( set criteria to target buyers better) maybe worth trialing Vs paying ebay higher PLs or DL? 

[ojewellery]

I am repeating myself but I'm a big fan of the double whamy discount. 

You can send offers with items on sale plus markdown.  So nominal % sale to get interest / boost listings and then send an offer/ newsletter coupon/ private coupon to previous buyers and remind them they can use with the sale.  Sales also tend to have a better halo effect of boosted traffic post sale that can increase sales. (I haven't run metrics on this - its a gut instinct.  I will have a think if its possible to)

The newsletter metrics stack up for me.  I only do them once a month as I think thats enough to keep people who have bought from me on eBay roughly in the interest loop.  They can be scheduled so an hour or two with Bard/ chat gpt open and you can do the newsletters and any associated coupons for the quarter.

There are all sorts of forumula for cost of aquisition of a customer, I guess thats our promoted listings/ offsite ads etc.  The existing and repeat customer is less likely to cause you any issues and you know they're you're customer so the x percent off for them you're not paying on promotion.  Its a bit of a loyalty scheme.

I've joined the Resiliant Retail Club for a year, a cost but a needed positivity boost.  I watched a great webinar turning six figure years into six figure months.  It resonated with lots of things discussed in the thread.  In essence one of my key takeaways was spending on advertising is an essential part of any growth plan.  Its right proportional spend at right time.   Just need to work out my own personal forumla for amount to invest and how to assess return on advertising investment

Sorry to hear of so many illness' around.  I sometimes think its that stopping thing.  When you've been working really hard and stop.  Your body lets you know you need to have a proper break and recharge to be ready to get back on with the game.  

[fatbobfan]

' I had a nice little win today, I made it onto the #ialso100 list for f:Entrepreneur  '

Congrats!

100 Link? DM it you think its not appropriate for the thread, genuinely interested

[sheba-knows-best]

Just one more thing... just mulling over... I listed 1,040 items in 2023 and sold 1,013. This is kind of mega for me, it means I'm managing to live within my storage capacity which is vital for a clothing seller and means I'm selecting items well. I still need to work on getting rid of old stock though. 

I mention this - as 'share your tips for increasing sales' - the more things you measure as you go, the more things you can see how well (or not) you're doing and change/strategise as you proceed. Although there is seasonality of course. My Excel sheet, which gives me 'up the last sale' totals on sales, profitability, earnings rate, total sales, PL %, profit per item type, ebay fees as a % of sales/profitability  - pretty much everything really - is still my number one selling tip.

[ojewellery]

https://f-entrepreneur.com/ialso-top-100-bio/lindsay-hayman/

[ojewellery]

@simplyessential_uk I've just watched the "Flippin aint Easy" entitled " This likely change may hurt some ebay sellers" 

One thing I'll paraphrase he said which made my ears *bleep* up 'eBay owns the rights to your listings so its not like you can go to google and pay to drive traffic externally to your listings'

I not only disagree with the sentiment in the statement,  I belive its the opposite eBay through its affliate programmes will actually pay you to drive traffic to the site.  

Overall he's got an interesting take on things and his sumary you need to watch your numbers buy the right stuff sounds as though Sheba could have said it.

I do think fees are on the up, I think markets get increasingly saturated - its always been that way, its necessary to stay on our game, its necessary to try new things, its necessary to drive traffic, its necessary to watch numbers.  My ROAS on offsite ads stacked up running Aug - Dec.  It used to be offsite ads were part of promoted listings I don't know if they now completely aren't or if 'offsite ads' are additional specific paid ads beyond the standard ones in promoted listings.  Its a question to ask the advertising team next time there is a webinar/ presentation.

[fatbobfan]

Your example above,

Its the type of customers thats the difference, not the sellers

You were both right, what works for them works for them, your 14 year successful history says what works for you. Some want price/quality brand and some want individuality, OAK, quality vintage. You both have good businesses, do what works for you

[ojewellery]

Just discovered you can't say a variation of 'ears pop up' without being seen as swearing!  Live and learn.

[bojangled]

@sheba-knows-best 

I just want to echo what fatbobfan said. Don't let that seed of doubt in, your figures say otherwise, and your response to questioning of your prices was spot on. 

Thank you all for your New Year tips so far.

[fatbobfan]

Had a look at all, an eye opener,

As an older solitary, dinosaur it educates to the world we now live in, a alot of good but also sad, one jumped out at me, (Vie) what world are we creating where children/teens are needing self esteem and confidence workshops, again, old dinosaur excuse me, just seems crazy, so sad. 

Some top businesses in there, some good stories and a lot creating business for good, which is good to see,

Thanks and congrats again 

[vintagechinashop]

I had a very good December and January has started well for me , although always seeking better

I started a stock take and general tidy of my shelves in both rooms. I've been checking against the listings and have to say I've found quite a few items not listed although this is a bit of a mystery as I always list new items before putting them on the shelves   Anyway new listings have brought new sales so my first tip of 2024 is make sure you have everything listed. You may be missing out on sales on items which you think you have listed but haven't   More organised shelves have also made it easier to find things when sold 

keep the posts coming it's really good to see how we are all doing 

[fatbobfan]

I put the not listed but in the box (or your case shelf) down to ending and relsiting/sell similar.

Sometimes I get the message on a bulk sell similar an item 'cant be processed at this time' , does happen occassionally. 

Guessing its not you listing thats the issue as it would show in your drafts, when your busy/distracted Ebays error message can be easily missed especially if using a small screen device. 

You do find a good pile of good to go inventory, ready to list which is the unsuspected bonus but also annoying as happened recently as one item had a stock level of 10 which is not good. 

[oceanartsnorthdevon]

As part of my shop allowance I get 1500 "buy it now listings" and 600 "auction listings", I tend to use "buy it now" for all my stock so to utilise all the "auction listings" allowance I use these for items I have had for a while and want to clear out so start them at a mininum so costs are covered including fees and postage and a very small profit (after all I have gone to the effort of doing original listing, photos etc when they were  "buy it nows" and they do not cost me to list by using auction allowance).  I also add "make an offer" to these low cost auction items setting the minimum offer to either the starting price (so no loss on item or ridculous low offers) just to clear item or set slighly higher if it is more saleable, by putting these items that haven't sold on auction saves my "buy it now" listings for more saleable items/new stock and clears older stock and I continually re list them every week on auction until they eventually sell and all auction listings used for month (keeping to my allowance and not paying for listing each month). By doing this it works quite well, I generally find they eventually sell at either the minium set - job done stock cleared and got something for it, or I get a decent offer for an item that hasn't previously sold or had any interest before, or I get buyer interest on a low cost auction item who then takes the time to see what else I sell and discovers they are interested in my other full price items which leads to further sales.

Occasionally I use the auction listing if I acquire an item I am unsure of value/interest, start it at the minimum I would like for it/add make an offer with minimum set quite a bit higher just in case it is of value and decide if I want to sell at said higher offer and from there I can guage if there is any interest whilst getting the best price.  If not much happens I switch it to a buy it now.