Pages

Wednesday, April 8, 2020

Using the Promote Features on Ebay to Test Selling Polo Mallets

Small business sometimes get drowned out by the marketing power of larger companies with bigger budgets. As a small business you can gain some front page traction through the use of Ebay's promotion feature. Selling online is one of the ways to get your product out to a national or international market from almost anywhere in the country. Escanaba Polo Mallet Company is a "learning lab" good works low-cost start-up that helps to understand how small manufacturing can grow and develop in the U.S. so that new policies and ideas can develop. Check back often for new ideas.

There is little use locally for these mallets so nearly all sales will need to be conducted virtually in a way that will require higher reliance online marketspaces. While manufacturing will be local sales will be international.

While I haven't sold any mallets internationally because I have been primarily focused on building a national customer base and a strong product with market value it is something that I will keep in the back of my mind. One helpful feature often overlooked by Ebay sellers is the promotion feature. What does it do and what are some of the benefits?

From their website you can gain additional insight into how the feature works.

"Promoted Listings helps your items stand out among billions of listings on eBay and be seen by millions of active buyers when they’re browsing and searching for what you are selling, helping to increase the likelihood of a sale. The best part? You only pay when your item sells." https://pages.ebay.com/seller-center/listing-and-marketing/promoted-listings.html

The promotion feature will help you get your product out in front to gain the exposure you need. There is a balance to be made because if you place your price too high then people won't buy it. Yet exposure is often the name of the game when selling. Therefore you will need to play with your strategies a little to balance price, demand, and supply. I have been doing a little experimentation and there are a few things I learned.

Strategy 1: Low Promotion Rate. If you have a brand (product) that has existing market appeal and you want to increase sales a little you can bump up your promotion rate just a smidgen. That basically means you are gaining just a little extra exposure but not necessarily increasing your costs by much. Lets call that under the 10% range.

Strategy 2: High Rate but Increased Cost: If you have a product that you desire to put into a higher category of value and its good enough to do that, you can consider pushing your rate up. Because it also pushes up your costs up you may want some starting brand capital (i.e a new product). It also works well if you have extra inventory you need to liquidate (i.e. extra inventory). That is in the 20% and more range.

Strategy 3: Moderate Rate and Moderate Cost Increase: When your start-up has a product that fits within the average price range you may want use the 10% to 20% promotion rate. The goal is to increase your exposure without wiping out your profits.

Very few businesses exist without some type of marketing and advertising. In the physical world we can gather street attention by a sign but in the virtual world we have to try new things that help highlight the product and features.

Escanaba Polo Mallet company is a good works "learning lab" company that seeks to test micro manufacturing to raise awareness about business issues, government policies, and other actions that lead to a successful export economy. Much of our profits go to good works such as orphans, local child enrichment, and helping the disadvantaged. If you like what you read here please feel free to share. https://www.escanabapolomallet.com/

No comments:

Post a Comment