Since the commercialization of the Internet in the last decade of the past century, commerce has experienced a huge revolution as many companies decided to conduct their businesses “online”. This was the moment when a lot of ecommerce platforms were created to help companies established their so called e-stores.
One of the first ecommerce platforms is eBay which was founded as AuctionWeb on the 3rd of September 1995 by Pierre Omidyar, and is headquartered in San Jose, California. Later in 1997, it changed its name to eBay and is now a multibillion dollar business with a revenue of $8.97 billion (2016), and operates in 30 countries. The website is free to use for buyers, however, sellers are charged after they use several free listings, and when their items have been sold.
“Going online” is really important for every business, but especially for the small ones who have a problem with selling their products or services and expanding business. This is going to help them get a bigger number of potential customers since the internet has no boundaries.
Creating a website takes up a lot of time since the site needs to get a lot of traffic in order to reach the desired amount of customers. It is easier for smaller companies to use the ecommerce platforms than creating their own websites, since they are a lot easier to use for trade activities and generating income.
That’s where eBay comes into play. With one billion products listed it has excellent traffic, and, as a matter of fact, in 2017 it had 168 million active users with buyers from 190 different markets.
There are many ways in which eBay helps the businesses that are using its platform. One important way is by promoting a product on search engines with huge amount of traffic and a lot of people who will see the product, thus becoming potential customers. But there’s a lot more that you can do for your product on eBay than simply listing it at a particular price. You can offer commodities like free shipping or even an eBay discount that is bound to lure in more shoppers and increase interest for your product.
eBay offers its clients a variety of promotion and tools for marketing.
- One thing that eBay consults its clients to do is open a store. Those who own a store will get a powerful set of tools which can be used with building, managing, promoting, and tracking of their business on eBay. There is also the option to showcase the listings and get up to 10.000 free fixed price listings each month, while also getting access to features for design, marketing, and reporting.
- The next thing businesses need to do is getting more eyes on the listings. They can use promoted listings so they are able to create ads in prominent locations across the website, and if the ad leads to a sale – they get it for free.
- Promotion Manager is another tool that can be used to create discounts or coupons so that it engages the customers in spending more money.
- Social Media is maybe the most important platform for advertising since it is used by millions of people worldwide, and even though eBay doesn’t sell its own items, it creates a story behind the products listed by sellers, so that they can be shared on platforms such as Facebook, Twitter, or Instagram.
- Since it is easy to sell to any place in the world, eBay advises its clients to “Go global”. They have a GSP (Global Shipping Program) which takes care of the products until they reach their final destinations.
Many people who own small businesses start as being customers on the site. They tend to make money once they buy several things and see how the platform actually works. As we mentioned before, it is important to “go online” and reach a big audience which will boost the sales of the company.