It seems like just about everyday I am in a different city teaching dealers how to sell on eBay Motors. The cities may change but most of the questions are pretty similar. For this post I thought I would focus on one of the top questions I am asked.
“Which inventory should I list on eBay Motors?”
To some this may seem like a simple question, but I find it to be one of the most challenging areas to address. I believe inventory is one of the most important pieces to the puzzle.
New dealers will routinely tell me they like eBay Motors and that they always sell their niche/trade in vehicles there, but that is all. If you are going to build a business selling vehicles on eBay Motors, your inventory plan has to be a little more advanced than just selling niche vehicles when you get them.
Don’t get me wrong. There is a great business selling niche and trade in vehicles on eBay Motors. But you have to decide “Are you going to build a presence online, or are you going to build an online business?” If you want to build a consistent monthly sales channel with opportunity to grow then you need to put much more consideration into your eBay Motors inventory mix. It’s all about process.
To be successful dealerships need to build a dedicated eBay Inventory Strategy.
#1 - How many vehicles should I list?
Pick the number of vehicles to list using the following formula.
I want to sell _______this month on eBay Motors
At ______% Closing Ratio this mean I need to list ______ vehicles a month / a week
#2 - Where do I get the inventory?
Here is where I would start. When building your eBay Inventory Strategy please consider the follow questions.
– What is your target for monthly sales / listings?
– Which cars are going on eBay?
– Will you be selling new, certified, used, trades or a mix
– Who will determine which cars are wholesale or go to eBay?
– Will you buy trades exclusively to sell only on eBay?
– Will aged inventory go on eBay before going to auction?
– If so, at what date will aged inventory go onto eBay?
My recommendation for Franchise Dealers is that at least ½ of their inventory on eBay Motors should be from their brand. If you are a Toyota dealership listing 10 vehicles a week on eBay then at least 5 should be Toyotas. For example, your inventory plan could start with one Camry, Corolla, Sienna, Tacoma and Avalon. The other 5 vehicles will be a mix of trades, aged, certified, new and etc. Basically whatever you think would do well.
Basic research will also help. By looking at eBay Motors directly or through use of a number of tools you can quickly see what is for sale and/or what has recently sold in your market or product line.
I really like this strategy as it sets a solid process in place and allows you to sell to your strengths.
#3 Do I relist the same vehicles if they don’t sell?
This is where many fall behind. Lets say you list 10 vehicles a week on eBay Motors. Several days before you list the vehicles you choose the inventory to list, prepare the vehicles for sales and then create the listing. This part people usually get.
The next level though is being ready to relist when the auctions are ending (if the vehicle didn’t sell) In this example lets say the 10 listings ended today and 3 of the vehicles sold. This leaves me with 7 left over to relist. If we are going to stick to having 10 vehicles listed we need to make some decisions. Are you going to list the 7 vehicles that just ended and add 3 or are you going to pick new vehicles to list?
These are important decisions to make a couple of days earlier. Way to many times I have seen dealers fall behind as they started looking at the next vehicles to go on ebay too late and end up missing several days of selling .
For best success I would suggest that your eBay Sales Rep and UCM/GSM get together a couple of times during the week. First they need to discuss how the auctions are going and potential sales and second they need to plan together what the next wave of vehicles will be that they list. Doing this each week will help make sure you always have to right inventory mix for sale and that you stay on process
Top eBay sellers look at every car on their lot, every potential trade and even cars at the auction looking for great sellers.
eBay Motors offers a number of ways to train you and your staff. To find out more please visit our Dealer Center.
If you have any questions or comments please let me know.
Clayton Stanfield
Manager – Dealer Training
eBay Motors
