Updates on two marketplace releases that might have passed you by...
Go one step further with eBay listing promotions
Once you’ve optimised all your eBay listings, what's the quickest way to be seen on the marketplace? eBay offers a listing promotion service which allows you to pay to let your listings gain more visibility (much like Google’s PPC). The good thing about this is you only pay when you make a sale. You can promote a total of up to 30% (or 100, whichever is greater) of your multi-quantity fixed price listings in selected categories that are displayed in the promoted listings service. Each campaign can have up to 100 listings included.
When you've created a campaign, setting a fee requires a bit of ground work. The ad fee represents the percentage of an item's sale price you're willing to pay to promote it. When eBay charges your ad fee, they will look at the time of sale, then look 30 days back for the click that led to the sale. The fee is worked out by what the as rate was at the time the ad was first displayed. When an ad goes live, it should appear at the top (in desktops) or the side of the page across the US, UK, German, Australian site. However, like PPC, this will depend on a number of factors, including listing quality and relevance.
Using the promoted listings tool in conjunction with Best Match is probably the best way to achieve the results you want. While you try and build up a strong Recent Sales score, the Promoted Listings tool can give you that first push for sales.
Tracking the results is relatively simple. Your promoted listings dashboard contains information on the sales related to your ads. Sales are from buyers who clicked your ad and purchased the item within 30 days. The number of items and the amount resulting from those sales is displayed.
Amazon’s loan lending service to small businesses
Amazon is preparing to launch a loans programme aimed at smaller ecommerce sellers in countries such as the UK Canada, China, France; Germany, India, Italy and Spain as part of one of its new releases. By invite only, sellers must already be selling on the market place to be eligible and Amazon will be able to take a cut of every sale. Amazon uses an internal algorithm to select Amazon Lending invitees. The algorithm analyses how often sellers run out of stock, how popular their products are, and what their inventory cycles are.
Only the website’s top performers and those perceived to be customer-focused will be considered. Risk in this area is significant, because small businesses (particularly those in China) have high failure rates and so are more likely to default on their loans. Gil Luria, an analyst with Wedbush Securities in Los Angeles, told Reuters that Amazon’s expansion of its loan service may be a ploy to seize a larger market share: “Amazon has very little share in China and they haven't been able to break out of that, so this is a very important, necessary step for them to be able to grow.”
So how would this be advantageous to smaller sellers? Gaining the support of the world’s most popular marketplace is not to be sniffed at, and the exposure to new customers would be significant. Businesses would be able to expand into international marketplaces and achieve quick success with Amazon’s large customer base.
If you would like to learn more about other multi channel marketplace, or any other eBay and Amazon opportunities and releases, please contact Volo here.