|Tue Jan 5 2021 22:48:57|
Should You Pay Extra to Advertise Your eBay Listings?
By: Ina Steiner
How much should you spend to promote your listings on eBay? Some sellers would say the fees they already pay should cover the cost of getting exposure to shoppers, but others are willing to pay more to get an edge over their competitors.
But if you are open to advertising your eBay listings, how much extra should you pay?
eBay just announced the launch of a "machine learning based bid recommendation system" for Promoted Listings.
As readers may know, sellers choose how much they will pay for sales made through Promoted Listing Ads by setting a percentage of the final sale price. If a shopper clicks on their ad and purchases the item within 30 days, sellers pay eBay the rate they've selected.
But eBay explains it's tricky for sellers to calculate the optimal ad rate, even with access to detailed metrics and Promoted Listings campaign reports, so it used machine learning to develop an algorithm to provide an item-level suggested ad rate which helps balance cost and performance. In a post on the eBay Tech blog
, tech researchers for the company explained how it worked.
eBay's Senior Product Manager of Advertising Sarvesh Saran called it a huge achievement by the eBay Advertising team. "This will help eBay sellers succeed in their advertising goals while minimizing cost," the executive wrote.
eBay is counting on advertising, as well as managed payments, to grow revenue. Let us know what you think of the new feature and if it will entice you to try eBay advertising.