When you notice that your sales on eBay are going down, you suddenly tune into an alarming situation. The reason could be different, but it is time for you to step up and build a new strategy. We have shortlisted 7 strategies to help you when eBay sales are slow and recover in times of crisis to help you out.
7 Strategies to boost when your eBay sales are Slow
1. Analyze the situation
The first thing you need to know is to analyze the factors involved in it. It will give you an understanding of what your situation is right now. There are two essential things to explore at first.
A. Know the Economy
Start with the external factors such as the market condition and the global and national Crisis, resulting in less demand for that product.
B. Research about your niche
Sometimes, a particular niche is in low demand. Meanwhile, the other places are high in demand. The reason could be different for this situation, but it is essential to know why this is happening and what could be done.
2. Check and modify your listing
The market gets competitive as new sellers get in. Their primary objective is to rank their listing on the first page. It affects the sales on the other listing. You need to edit your listing and check on which keywords the top listing is ranked. Change your keywords accordingly. The other thing you can do is change the copyrighting style of your listing.
Hire a better copyrighter and update your product descriptions for better optimization.
3. Never lower your standards
When you are in a crisis, you quickly get frustrated and what to increase the net profit. In this way, you try to lower the manufacturing cost of your product. It leads to compromising the standards. When the bars are low in the long term, the customer gives negative reviews of your product. It will undoubtedly haunt you in the long run. So, never lower your standards to increase sales.
4. Don’t abandon your account
It is easier to run a business than to build it. When the sales are low, the sellers usually look for another business opportunity which is not bad, but this Crisis will get over soon. On the other hand, a new business will take double the amount of time and energy to flourish. Therefore, it is essential to give your full attention to the things that you know.
5. Add more value to your return policy
Your key differentiation could have been your return policy. But there could be a case that your competitor might have come up with a more generous return policy. In this case, you can modify your return policy to give more value to your customers. In the end, these online platforms compete with each other, and the one who provides better value to the customer will end up winning the buyer’s heart.
6. Change your marketing strategy
Not everyone will be on eBay. If you were generating organic sales on your listing in the past, it is probably time to change gears. The importance of social media marketing cannot be over-emphasized, and the sellers these days are looking to market their product on the platform, where the audience is looking for those products or talking about them.
You can plan to add affiliate marketing for your products with some influencers or publishers who can promote your products and generate sales.
A. Check-in your product sourcing:
Most sellers use the same sourcing method for their product, but when the sales are low, you need to check out if they are giving a discount to you. It will provide you with relief in this downturn and reduce the net expenditures on your listing.
7. Avoid high-risk bidders and buyers
When the sales are low, the seller is intimidated to take a chance with the risky bidders and buyers. It can result in even more damage to your current condition. If the risk involved in bidding is too and the volume is high, you should take a chance. Otherwise, don’t flirt with high-risk shoppers.
To wrap up, a Crisis is a test of your abilities. Most online businesses crash because of their inability to face a crisis. In the online business, one needs to keep updating the company along with its competitive environment. Therefore, proper research, planning, and execution are fundamental to get through this challenging period.
Give your hundred percent focus to this period, and you will end up coming out even more substantial.