Welcome to eBay Motors Best Practices Webinar

Welcome to eBay Motors
Best Practices Webinar
Successful Selling on eBay Motors
Selling on eBay Motors
Merchandising
Developing a Pricing Strategy
Managing Your Active Listings
Maximizing Your Presence
Selling on eBay Motors
12 Million Unique Monthly Visitors
A Vehicle is Sold Every Minute
Over 3 Million Vehicles Sold
24% Share - All Online Auto Minutes
45 Minutes Per Unique Visitor
88 Million Users Worldwide
eBay Motors is the #1 Automotive Site on the Web
Source: Nielsen//NetRatings June 2009 & Q2 2009 eBay data
Selling on eBay Motors:
Why eBay Motors Works
For Sellers…
• Access to large, active
community of buyers
– 12 million + monthly visitors
– Visitors spend an average of 45
minutes on eBay Motors
• Expand your audience by selling
nationally
• Brings traffic to your lot
• Opportunity to create brand online
• Cost effective fee structure
Selling on eBay Motors:
Why eBay Motors Works
For Buyers…
• “Buyer-driven” pricing
– Buyers initiate negotiations
• Large, easy-to-search inventory
– Constantly renewing inventory of
160K+ vehicles and 1M+ P&A
items
• Convenience: allows “virtual walkaround” via pictures and unlimited
info
• Safe & secure buying environment
– Feedback, VPP, inspection service,
vehicle history reports, etc.
Selling on eBay Motors:
eBay Motors is For Everyday/Average Vehicles
Selling on eBay Motors:
Where Do Buyers Come From?
Selling on eBay Motors:
Where Do Buyers Come From?
Successful Selling With eBay Motors
Selling on eBay Motors
Merchandising
Developing a Pricing Strategy
Managing Your Active Listings
Maximizing Your Presence
Merchandising:
Steps to a Sell- Commitment to Succeed
Traditional Retail
eBay / Internet
1.
Meet/Greet
1.
Online 1st Impression
2.
Lot Walk
2.
Virtual Showroom
3.
6 Position
3.
Virtual Walk Around
4.
Test Drive
4.
Virtual Test Drive
5.
Resale
5.
Follow Up
6.
Trial Close
6.
Close
Merchandising:
Pictures – Virtual Walk Around
Some Pointers
– Nice ¾ angle gallery
– At least 40 photos
• Virtual Walk Around
– Good lighting
– Professional background
– Money shots
• Dash
• Odometer
• VIN
• Owners Manual
• Keys
Merchandising:
Pictures - Quality
Quality
Merchandising:
Pictures - Quantity
Listings with 24 or more
pictures have a 115% higher
chance of success than a listing
with less than 24 pictures.
Listings with 40 or more
pictures have a 75% higher
chance of success than listings
with fewer than 40 pictures.
Source: Dealer Specialties 2008
Merchandising:
Pictures – Creating a Brand
Merchandising:
Pictures - Consistency
Create a template for your lot
management companies and
make sure they use it every time.
This makes it easy for them to
know what you want and gives
you a tool to help ensure quality
for all your listings.
Merchandising:
Titles and Keywords
Poor Listing Title
Keys to a Strong Title
Do’s
•Use all 55 Characters
•Key Search Words
•List Major Options
Don’t’s
•No L@@K, W@W or !!!!
•Don’t Use Same Word Twice
Strong Listing Title
Merchandising:
VIN Decoder
VIN Decoders add
pertinent
information, but
VIN Decoders don’t
sell cars.
Quality
Descriptions sell
cars
Merchandising:
Virtual Test Drive
Create a Virtual Test Drive
• Make, Model, Trim, Exterior
Color, Interior Color and
Leather or Fabric/Cloth
• What are 3 options this car
has that might interest a
buyer
• Why is this vehicle the best
one to buy
• What you especially like
about the item
• Who you think it would
appeal to and why
• An interesting story about
the item
• Highlight the value and
savings for buyers
Describe your Vehicle like it was going on Match.com and Not AutoTrader.
Merchandising:
Personalized Descriptions Create Emotion
This 2006 Hummer H2 has just 31,000 miles on it and is beautiful.
It is in near perfect condition. The exterior paint looks great and
while there are the typical little scratches here and there, you can
tell from the pictures that it has been well cared for.
The interior is just as beautiful and smells like leather with no
hint of cigarette smoke. I have personally driven this vehicle and
can tell you it is a real pleasure to drive.
The options include all the bells and whistles, including power
seats, upgraded stereo system and a back up camera.
Please call me with any questions you have. I really believe this is
a great vehicle and we have it priced to move fast.
Call Allison Today! (866) 322-9227
Merchandising:
Getting All of This Done
Listing Tools
Internal
Successful Selling With eBay Motors
Selling on eBay Motors
Merchandising
Developing a Pricing Strategy
Managing Your Active Listings
Maximizing Your Presence
Developing a Pricing Strategy:
Lead Quality
Typical Lead
• I will take it home now, if
we can work out a deal.
•I am interested.
•I want information.
•Do you have this vehicle?
•I want this car, NOW.
V
S
•I will buy this vehicle,
today, now, at this
moment.
•Here is my credit card, I
want it now!
Developing a Pricing Strategy:
Listing Strategies
Which of these formats would you use and when?
Auction
Auction with Buy It Now
Fixed Price (Buy It Now only)
Buy It Now with Best Offer
Developing a Pricing Strategy:
Auction Style Listing
Developing a Pricing Strategy:
Auction With Buy it Now
Developing a Pricing Strategy:
Buy it Now With Make Offer
Developing a Pricing Strategy:
Classified Listing with Make Offer
Developing a Pricing Strategy:
Start Low on National Cars
Good price
Lots of bids!
Low starting price
Low starting prices help get buyers to start bidding sooner. The quicker
the bidding starts, the better your chances are for a higher selling price
Developing a Pricing Strategy:
Low Start Prices Encourage Bidding
Developing a Pricing Strategy:
High Start Prices Discourage Bidding
Developing a Pricing Strategy:
Increasing Traffic – Low Start Price
Lower Start Price = More Bids
Lower Start Price = Higher Conversion
Developing a Pricing Strategy:
Start Times
Start With the End in Mind!
• Start times may vary – pay attention to your audience.
• Bidding is heavy in the beginning and at the end of an auction
• Start times are based on Pacific Standard Time
Successful Selling With eBay Motors
Selling on eBay Motors
Merchandising
Developing a Pricing Strategy
Managing Your Active Listings
Maximizing Your Presence
Managing Your Active Listings:
Communication With Buyers
• Create Interest
• Establish Trust
• Sell the Vehicle
• Financing
• Shipping
• Feedback
Managing Your Active Listings:
Creating Interest – The “Tickle”
Change your price within the auction
Lower your Reserve
Lower your "Buy It Now"
Add a "Buy It Now"
Each function
emails all bidders
Every 3 days and 24 hour’s before auction ends
•These listings generates 5-6 more bids per listing (a 50% increase)
•Increases the probability that the listing is successful by 50%
Managing Your Active Listings:
Creating Trust
Managing your Listings:
Sell the Vehicle
• Being responsive is critical in an auction environment
• Communication with your buyers builds trust
• Earn the bidders trust by helping them through the process
• Communication helps you pre-qualify bidders
• Convert Bidders into Buyers by giving them the information they need
to make a decision
• NO Auction should ever complete without your knowledge
Managing Your Active Listings:
Financing
Buyers on eBay are looking for financing just like everybody else
Managing Your Active Listings:
Shipping
Managing Your Active Listings:
Feedback
Mr. Smith,
I hope you are enjoying your new vehicle. When you get a moment
could you please leave a positive feedback regarding your
experience with our dealership? We are working hard to establish
ourselves as a trusted seller on eBay Motors and your feedback can
help buyers see that we are a great place to buy a vehicle.
If for any reason you feel we do not deserve a positive feedback
please contact me ASAP so that I can make it right.
Thank you,
Clayton Stanfield
Successful Selling With eBay Motors
Selling on eBay Motors
Merchandising
Developing a Pricing Strategy
Managing Your Active Listings
Maximizing Your Presence
Wholesale
Value of Transaction
Full Retail
Maximizing Your Presence on eBay Motors:
Consider Inventory Age
Day 1 - Retail
Appraise used vehicle to
determine Sell here or
Sell there.
Day 45 – “Wholetail”
Aged inventory sold on
eBay Motors National
Market
New inventory
42
Day 1 – “Non-Typical”
Vehicle is listed on eBay
immediately
Day 60 – Wholesale
Sell at Low-Reserve
Low Start
Aged inventory
Maximizing Your Presence on eBay Motors:
Store Subscription Levels
Maximizing Your Presence on eBay Motors:
Search Engine Optimization
Maximizing Your Presence on eBay Motors:
My World – Blogs - Community
Dealer Support:
Training Opportunities
www.eBaymotors.com/ISM
http://pages.ebay.com/motors/services/dealer_center/university.html
Dealer Support:
Contact Information