Transcribe of “How to use eBay Markdown Manager”
So buyers on eBay want a bargain, or at least they want to feel like they’re getting a bargain. If a buyer doesn’t feel like they’re getting a bargain from one seller, they’ll often move to the next seller. In this video I’m gonna show you how to use eBay’s Markdown Manager so buyer’s feel like they’re getting a bargain. And the great part about this strategy is it doesn’t cost you any money or eat into your profit margin.
How to use eBay’s Markdown Manager
Now the way you do this, is you put the price up first 30 to 40% and then you put the item on sale, and the new sale price is exactly what the original price was. Now the advantage of this is eBay shows buyers what your inflated high price was, and eBay shows your new discounted price as your new sale price.
On sale price was exactly the same price
Of course, the new on sale price was exactly the same price before you put the item on sale. So just to make it clear, even though the item’s on sale, it’s no cheaper than what you were originally selling it for. So this strategy does not eat into your profit margin in any way.
Now the question always comes up as to how much of a discount?
Now the question always comes up as to how much of a discount? And this is very important. To cut a long story short from our tests over the years, we find 30 to 40% off works best. So you put your price up 30 to 40% and then you put it on sale, 30 to 40% off. Too small a discount, like, say 5%, can actually reduce your sales conversions as buyers feel the discount is too weak and they go looking for a deeper discount. Too big a discount, like 90% off, as in 9-0, 90% off, can also trigger the buyer’s BS meter and again reduce sales conversions. From our tests, 30 to 40% works the best. Here’s an example. I’ve already increased the price of this item 30%.
Next step is to put the item on sale.
Next step is to put the item on sale. To do this, use Markdown Manager in the eBay Seller Hub. I’ll put a URL to the Seller Hub on the screen, and also below. Also, note that Markdown Manager only works if you have an eBay Store. If you don’t have an eBay Store, you can get one form $4.95 per month. Okay, back to Markdown Manager. First step is to click on “Markdown sale”. Then click the blue “Create a promotion” button. Then select “Sale event + markdown”. Select what type of sale event that you wish to do. I’m choosing to take 30% off selected items.
You can put a whole category on sale
Next you can choose whether you want to put selected items on sale, or to speed the process up, you can put a whole category on sale, or whole categories on sale. For this demonstration, I’m just gonna choose “Select items”, as I just wanna put one item on sale for this demonstration. To do this, just click the checkbox next to the item or the items that you wish to put on sale, and then click the blue “Confirm selections” button. You’ll then be sent to a “Save and review” page, where you can check to make sure everything’s okay. On the next page you can choose your start and end date for your sale, as well as give your sale a name, which is mandatory. After that, click the blue “Launch” button and that’ it.
You can only put items on sale that have been live on eBay for 14 days
Now just a quick note. You can only put items on sale that have been live on eBay for 14 days. Cannot list an item now and put it on sale. You have to list the item now and then wait 14 days before you can put it on sale. Also, if you run a sale every, say, week, you can easily outsource this task to a one to two dollar per hour overseas virtual assistant and they can do it all for you. That’s all for this week, please scroll down and leave me a comment below. Until next week, list more, sell more, this is Neil Waterhouse.