ChannelAdvisor Connect 2019: The Power of Leveraging eBay’s Managed Marketplace
eBay is a powerful partner to brands and retailers because of an ever-evolving investment in tools that businesses can leverage to attract customers and increase sales.
The technology required to run a successful e-commerce business continues to advance at a rapid pace. The way we shop online changes with each software and hardware update. Brands and retailers need to find ways to keep up without over-stretching their resources. To remain focused on attracting new customers, it’s ideal for them to lean on reliable partners. Here’s how brands and retailers can leverage partners to share in some of the heavy lifting.
Don’t Reinvent the Wheel
One of the biggest advantages of being on eBay’s platform is leveraging our tools. Promoted Listings, which is now being widely adopted by both smaller sellers and bigger brands, give businesses another way to attract more buyers to their best items. And, by the way, we have a cost-per-sale model, which means sellers only pay for the ad when it results in a sale. One of my favorite case studies describes our partnership with Reebok. To increase sales, the company followed eBay’s trending ad rate guidance to stay competitive. The result? Reebok saw a 55% lift in overall sales and a 142% lift in sales for their promoted items. We want our partners to succeed, and results like these make me so proud. That’s why we believe brands like Adidas, Dyson and KitchenAid choose to be on our platform.
Unlike traditional digital publishers or other e-commerce platforms, eBay is truly where passion meets intent. We provide the seamless, intent-based shopability of commerce while creating a richly visual, serendipitous, relevant shopping experience that helps people pursue their passions. This means that our shoppers spend more time and engage on eBay.
Brands and Retailers Need a Partner They Can Count On
In the breakneck speed of advancing technologies, it’s difficult for brands and retailers to manage selling on multiple marketplaces effectively. They need to decide which marketplace platforms best meet their needs and objectives. For example, eBay can give brands and retailers unparalleled insight into how customers are shopping for their items. Every month, eBay amasses 107 million hours of shopping and purchase behavior data. Because 80% of our audience is persistently logged in, all of that activity adds up to massive cross-channel audience data. Our custom-built ad platform is an incredible tool that our partners don’t have to go out and build themselves.
Our data is different from large publishers like Facebook or YouTube, for example, because we’re a commerce platform where we capture buying intent signals, shopping insights and transaction-level data. With the acquisition of analytics firm Terapeak in 2017, we can now help brands and retailers optimize sales by providing supply and demand data that advises what to sell, when to sell it and at what price. Here’s where a partner like eBay can add the most value:
- Audiences: Behavioral and contextual audience targeting has become table stakes for advertisers. We offer smart audience activation that drives efficiency and campaign success. And with eBay’s data, our partners can build turnkey audience segments as well as custom segments to connect with their perfect audience. For example, we reach 32 million drama enthusiasts and 23 million comic sitcom enthusiasts. On average, they visited eBay 193 million and 144 million times, respectively, during July 2018. Both spent an average of 36 minutes on the site.
- Shopper Journey Insights: eBay has a front row seat to millions of unique shopping journeys each month. We know how each user browses, discovers, buys and sells on the platform. For example, the average eBay smartphone purchaser goes through 28 days of consideration, touching 35 categories, utilizing both mobile and desktop. With insights like these, eBay helps brands and retailers reach and influence consumers throughout the shopper journey with the right ad solutions at the right time.
- Personalization: The deep level of audience data we have provides our advertisers with the ability to take a more personalized and humanistic approach to advertising. Our data gives advertisers the ability to engage one by one with the perfect audience.
- Campaign Optimization + Insights: We share our actionable-rich purchase funnel data and audience insights to help increase conversion and execute smarter campaigns.
Modern Marketplaces Deserve Modern Payment Methods
Few marketplaces are as powerful as eBay, and the value proposition for brands and retailers to partner with our platform is clear.
One of the biggest initiatives we’re making is managing payments from end to end. With eBay coordinating the entire payments process, merchants on our platform can focus on streamlining, reinvesting in and expanding their businesses. Our new payments model helps businesses manage everything in one place, save time and money, and access new ways to pay. This move has enabled us to add forms of payments and digital wallets like Apple Pay and Google Pay. Because this is a big priority for the company, it’s a space that will see quick evolution as we look ahead.
There are plenty of ways that brands and retailers can leverage partners to do some of the heavy lifting. If you don’t have to build it yourself, don’t. I’m so passionate about eBay’s many growing partnerships, because we’re a tech company at the intersection of retail. We’ve been evolving in an ever-changing tech landscape for 24 years.
Finally, because we also don’t compete with our sellers, our platform is the perfect marketplace to partner with brands and retailers.
Blog post by Bridget Davies, VP of Seller and Revenue Growth for eBay Americas