How To Sell More On eBay – The 1.5% Rule
Transcribe of “How To Sell More On eBay – The 1.5% Rule”
– Hi guys, Neil Waterhouse. This week’s quick video is part of a series of videos I’m doing about how to sell more on eBay. This week’s video is the 1.5% strategy and it’s very simple but very powerful for selling more on eBay as I’ll show you. If anybody new to this channel, my name’s Neil Waterhouse and I’ve been selling eBay for 23 years and I’m the author of Million Dollar Ebay Business From Home. So let’s launch straight into it. eBay’s search engine is called Cassini. In a previous week’s video, I explained how the eBay search engine, Cassini works. If you missed that video, I’ll put a link at the end of this video.
But in summary, for eBay’s Cassini search engine, the four core values that drive eBay’s development and tweaking of the Cassini search engine are relevance, value, trust, and convenience. The 1.5% strategy that I’m going to show you now in this video is based on how Cassini looks at the value part of any listing, i.e., the price. Let me show you what I mean. If you’ve been selling an eBay for some time, you’d know that eBay is trying to get everybody to add item specifics to all the listings like Amazon does so that eBay knows exactly what each listing is. eBay wants sellers like you and me to populate the item specifics section of each listing with product identifiers, i.e., brand names, MPNs, which is short for manufacturers part number, UPCs, EINs, et cetera.
Take this backpack as an example. If I scroll down the listing to the item specifics, you can see that this seller has added an EIN number, a UPC number, brand name, and an MPN number. Because all this information’s been added, eBay knows exactly how to index this item and therefore exactly which other listings to compare it to. So if you list an identical item on eBay with the identical item specifics, how do you get eBay to put your listing above your competitor’s listing? All you need to do when everything else is equal is to make one of those core values better than your competitor.
For this video, which is the 1.5% rule, we’re just talking about price only. The way eBay’s Cassini search engine works is where everything else is equal, but one seller’s price is lower, that seller gets pushed up in the search results. But how much lower does your listing need to be for eBay to push your listing up higher in the search results? Is it 1 cent, $1, 1%, 10%, 20% or what amount gives the best bang for buck in terms of dropping the price and getting the listing pushed the highest amount in the search results? We’ve extensively split test this over the years and to cut a very long story short, the answer is 1.5%.
So to make this strategy work to sell more on eBay, when you create a new listing, go to your competitor’s listing and click that link that says have one to sell, sell it yourself. If you use this link, eBay will automatically copy all of your competitor’s item specifics. And then eBay will know that your listing is exactly the same item. The 1.5% rule works when everything else is equal in a listing, except the price being 1.5% or more lower.
How To Sell More On eBay? You can of course increase your sales conversions even more by optimizing listings so that you’re not just equal to your competitor, but your listing is more optimized than your competitor as over 95% of listings on eBay are not fully optimized. It only takes one optimization technique more than your competitor to beat them and sell more on eBay. If you want to know more about how to optimize eBay listings, check out this video up here. If you have any questions, please leave them in a comment section below.
And if you found any value in this video, please give it a thumbs up as it helps the channel. And make sure you the subscribe button to the no-fluff, ad-free channel the teaches step by step how anyone can make a full time living from their home using less than $100. Until next week, list more, sell more. This is Neil Waterhouse.
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🎬 My Free- Step By Step – Dropshipping Course – Dropship Formula™ https://www.neilwaterhouse.com/drop
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Hi. Is this just a race to the bottom?
It’s a tricky one. I am always worried about creating a race to the bottom!
Currently, for dropshipping, we are mostly just using the $1 cheaper and not the 1.5% rule.