Seller Survey Results: How to Attract Buyers to Online Marketplaces

In late March/early April, we surveyed on-line sellers and requested them in the event that they had been happy with how on-line marketplaces attracted patrons to their websites and the best methods of doing so.

We performed 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% had been part-time sellers; and 11% had been “informal” sellers.

In addition to asking questions, we invited sellers to share their ideas within the feedback part, and this supplied 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 best methods on-line marketplaces can appeal to patrons?” and requested them to rank the next 5 strategies so as.

Ads on search engines like google and different paid searchAffiliate advertisingEmail advertisingSocial media marketingTV / Radio commercials

As proven within the following slide, sellers ranked Social media advertising as the best adopted intently by Ads on search engines like google and different paid search. TV and radio commercials got here in third place. Affiliate advertising adopted in fourth place, barely outranking Email advertising.

Which Marketplaces Are Best at Marketing to Attract New Buyers

We supplied the names of 6 marketplaces and requested sellers to rank them, asking: “Which on-line marketplaces do the very best job of promoting to appeal to patrons to their web site?”

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 supplied the names of the identical 6 marketplaces and requested sellers to rank them by asking, “Which marketplaces are the best at utilizing incentives to appeal to patrons?”

The outcomes had been very related 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 a bit of), as the next slide shows:

Marketing Focus: Everyday Items vs. Luxury Goods

Finally, we requested sellers, “When it comes to attracting new patrons, is it more practical for marketplaces to focus their adverts and advertising on on a regular basis objects or luxurious items?

The majority of sellers (71%) thought it higher to give attention to frequent on a regular basis objects. Fewer than 4% felt it was higher to give attention to luxurious/costly objects. 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 appeal to patrons and the way efficient these strategies had been – together with the place they excelled and what they need to be doing.

Social media adverts had been incessantly cited, similar to the vendor who beneficial marketplaces run “repetitive adverts that present up in your social media reminding you of the objects you may have clicked on.”

Another mentioned, “Ads on social media and Google search outcomes have gotten to the be crucial method to promote.”

“They needs to be doing a little frequent sense commercials on TV relating to searching for something on their platforms,” one vendor mentioned. “There are a zillion commercials for the whole lot else however I’m not seeing TV adverts for any of the above listed Marketplaces. TV adverts are the place I feel these Marketplaces ought to be.”

Quite a few sellers particularly talked about YouTube and Netflix. “Network TV goes away, however direct video promoting continues to be a factor,” one vendor wrote.

Sellers Want to Know Where Traffic Is Coming From

One vendor mentioned within the feedback part that it was tough for sellers to know what was only as a result of marketplaces didn’t share particulars about the place visitors and gross sales are coming from. “On eBay we’re largely blind as to if or the place patrons come from. In the previous, there have been instruments to observe internet sites 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 patrons is vital, however what they see once they get to {the marketplace} is simply as vital – having what patrons need, in a method that they will discover these objects, and having a great expertise, are all very important. “TV Ads, media blitz, attracting stable sellers with nice objects and costs,” wrote one respondent.

“Inflation had hit laborious, everyone seems to be in search of a discount, give them one,” mentioned one other

Sellers Want Marketplaces to Fund Marketing Campaigns

Marketplaces encourage sellers to promote their very own listings, however quite a few sellers mentioned within the feedback that marketplaces needs to be funding campaigns that publicize {the marketplace}.

“They needs to be taking over the promoting prices, it’s their platform, which they appear to continually neglect,” one respondent wrote. “We mainly “lease” 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 web site promoting any method as a value of enterprise, then 6 months later minimize method again on that promoting,” a vendor mentioned. “Nothing greater than a method 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 yr 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 objects as a substitute of the on a regular basis objects 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 mentioned Etsy can be responsible of excluding sure classes. “They promote their backside line, due to this fact high-end objects. 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 embrace classic/antiques.”

“I promote on Etsy and though they do tv promoting, not one of the adverts whether or not television, electronic mail, and so forth. apply to what I promote,” one respondent wrote. “There are 1,000s of provide outlets that really feel under-represented by Etsy’s advertising division.”

“Each market wants an identification that matches the products offered,” wrote one other vendor. “Amazon does a great job of being the the whole lot retailer, however others similar to eBay has an identification that now not matches what it’s promoting (used versus new merchandise).”

“I really feel that they’re targeted on a small phase of the patrons….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 large and have a tendency to neglect 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 device. Stay the course and maintain all of your prospects equally….they’re all valued and price your time. If not, then why are you of worth to me the client?”

“After this pandemic lots of people can’t afford luxurious objects,” mentioned one vendor. “I might give attention to the on a regular basis and customary objects 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 stunning pre-owned objects might be,” mentioned one other vendor.

Sellers Embrace Nontraditional Marketing

There had been a number of references to supply autos sporting Amazon logos as being an efficient advertising technique. 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 mentioned, “I feel for as a lot as we sellers pay in charges all on-line marketplaces might do higher at providing direct incentives by way of 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 location.”

“I feel platforms needs to be encouraging on-line influencers by means of 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 method 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 recreation apps,” mentioned one vendor. “That appears to be the place I spend my free time. LOL!”

“eBay wants to carry again the eBay bucks program,” wrote one other respondent. “This was an excellent small incentive to get the client to come again to eBay for the subsequent factor they needed or wanted. They additionally want to carry 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 word about survey rating questions: SurveyMonkey weighs the responses in reverse so {that a} respondent’s most most well-liked alternative (which they ranked as #1) has the most important weight. This is completed to be sure that when the information is introduced on a chart, it’s clear which reply alternative is most most well-liked.

Our survey collaborators will likely be masking the survey on their YouTube channels – ensure to be careful for his or her tackle the outcomes.

And take a look at the AuctionBytes Blog for extra details about the outcomes across the subject 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 suggestions 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/

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