If you hadn't heard, eBay launched a new product advertising service called Promoted Listings.Having seen the success of Amazon Sponsored Products, launching a platform to allow sellers to get their products in front of more customers was a no-brainer.
But what value should you expect to get from Promoted Listings?
Read five ways you can benefit below.
1. More Sales
Promoted listings is a new way to increase a product’s visibility to more buyers and create more sales. Higher demand items listed by multiple sellers with better selling prospects can be promoted to more potential buyers. Sales made with promoted listings should also favourably impact your ‘best match’ listings by driving more traffic to them. It’s less effective for unique items like antiques and collectibles, where best match search terms are very specific, and there’s far less competition.
2. No Gain, No Pain
You specify a rate for each promoted item, ranging from 1% to 20% of final sale price. The specified percentage of the final sale price, plus selling and listing fees goes to eBay. You’re only charged when a customer clicks on your promoted ad and goes on to purchase the item within 30 days. The amount you pay is based on the rate you’d set at the time the buyer first clicked your ad. If the item is returned or the buyer doesn’t pay, you’re eligible for free ad credits. If the item doesn’t sell, you don’t pay.
3. Start Promoting Quickly
The price, image and product description for your advert are pulled from your original eBay listing. It’s simple to promote multiple listings with bulk uploads. Stop or start your ads whenever you want.
4. Target Accurately
The factors that dictate where and when an ad is seen are ad rate, listing quality and relevancy. The more you invest in an ad the more visible it is. Competing on popular, high value items in uber competitive categories means bidding more. If you sell products that are seasonal, event-based, or likely to sell on public holidays, give them more exposure with campaigns that you set up in advance.
5. Learn more about your customers
Detailed performance data is readily available to optimise your campaign strategies. Your seller dashboard contains: The number of impressions your promoted ads have generated Clicks from potential buyers on your ads The total number of promoted ads that led to a sale The ad rate for every item and fee you’ll be charged Total items sold and amount earned.
So, now that you know some of the benefits, are you going to give eBay Promoted Listings a go?