True story. Let’s look at the data together.
For our small business, (Liberty Jane Clothing), we have an element of our revenue that is tied to EBay. My wife & her amazing team of designers designs doll clothes and then each year we auction them in the Spring & Fall. See their portfolio here.
So, let’s look at our Fall 2011 vs. Spring 2012 EBay auction results and look for signs of Pinterest’s impact. (Remember we started our Pinterest Profile in December 2011 – in the quiet period between our Fall & Spring auctions).
I’ve included charts below. In summary – You can see that in both revenue & traffic to the EBay listings, we had a major increase. Average selling price in the Fall 2011 was around $100. The latest auction ended for $334. There are 2 reasons I can come up with.
First, Pinterest & it’s ongoing (amazing) impact on our overall business results. Traffic to our sites, new customers, more social engagement, etc. It’s a beautiful thing. We know it’s driven lots of traffic to our sites.
Second, for the Spring Line 2012 we decided that instead of doing the outfits as Limited Edition sets (in recent years we’ve done 4 of each outfit). We decided to simply do each outfit as a One-Of-A-Kind (OOAK) outfit. This is a scarcity tactic that clearly works to boost prices.
But these are the only 2 variables that have changed in the last year. So, is it accurate to say,
Pinterest Helped Us Triple Our EBay Auction Results?”
I can honestly say ‘yes’!
Here is a chart showing the traffic to our EBay listings, and a chart showing the final sales prices.
Finally, I’ve included a few of the auction screenshots below for your viewing pleasure. I realize the prices probably don’t make sense to you if you’re not in the collector doll niche, (or even if you are). This is ultra premium pricing power. The average price of an outfit from the market leader, (American Girl), is around $30.
Bottomline – Pinterest refers lots of qualified traffic – and when it comes to online selling – (as long as you’ve got a good product) getting qualified traffic to your sales page is the most critical factor.
If you’re interested in this article – you might also like our ebook eBay Auction Power. In it we document our ebay strategy and walk you through a 9 step process to avoid bargain hunters and ensure dramatic bidding. When you can do that you can achieve ultra-premium prices by using your auction prices to justify your “buy-it-now” pricing. It’s one of the “Top Rated” books in Amazon’s Ecommerce category…
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