If we had to define our formula for success over the last 20 years, it would look a little something like this:
Trust + Serendipity = Engaged eBay Customer
The Trust Factor
In 1995, Pierre Omidyar created eBay on a simple premise that most people are basically good. However in order to succeed, eBay had to solve a very old, very human problem: trusting strangers. By asking buyers and sellers to rate one another, eBay “introduced trustworthiness into transactions between people who didn’t know one another.”
Since 1995, eBay has added multiple layers to how buyers trust and transact. For instance, eBay’s Money Back Guarantee ensures that buyers are refunded if the item they ordered didn’t arrive, is faulty or damaged, or if it doesn’t match the listing. eBay Authenticate™ provides customers with a high level of confidence when shopping for luxury items. Through the service, an ‘Authenticity Verified’ label is placed on thousands of watches and handbags from the most sought-after brands.
In 2019, eBay will expand seller protections in recognition of the fact that sellers face fraudulent returns and false claims from buyers.
Recognizing that it is our sellers that power the environment and have felt as though we’ve swung the pendulum too far to only focus on buyers, eBay is doing more to protect sellers.- Scott Cutler, eBay VP of the Americas
eBay continues to mitigate risks by increasing layers of seller protection, ensuring that the marketplace is one that’s trusted by all stakeholders.
In today’s reshaped ecommerce environment, advertisers need a true partner who can leverage the most impactful data and insights to build a trustworthy campaign. Advertisers can take stock in their ad performance on eBay. With 80% of users persistently logged in, ads are being seen by real humans, not bots1.
The Serendipity Factor
eBay’s proprietary data is truly infused by the customer. As a result, eBay understands what’s culturally relevant and what’s trending at any given moment. For instance, searches for Lebron James’ new jersey soared on eBay when he announced he was moving to Los Angeles from Cleveland. It quickly became a fan favorite, with over 12K jerseys purchased on eBay 2 since he signed with the Lakers last July. Launched in May, there are also new features to better tailor the shopping experience based on a user’s passions, hobbies, and style. The result is a more personalized eBay that uses technology to curate the world’s largest selection of inventory.
With more than 1.2 billion listings3, eBay is focused on making the entire internet shoppable. Enabled by AI and machine learning, eBay continues to create innovative ways to shop, allowing people to quickly find the things they love. Advanced shopping tools create an environment where consumer interests are recognized. For example, in 2018 eBay Motors’ announced a new Shop by Diagram feature. This tool assists prospective buyers by using schematics of vehicles to determine which parts they need to buy. And it’s tools like these that makes eBay a customer resource for research and discovery, providing high engagement to brands.
Customers can connect with items that spark interest but that they weren’t necessarily looking for. Shoppers can serendipitously happen upon items that are uniquely eBay. Under the ‘Everything Else’ category, customers can search for everything from ‘Weird Stuff’ to ‘Totally Bizarre Stuff.’ We dare you to see what you can discover and maybe fall in love with.
The Engaged eBay Customer
Everyday, tens of millions of people browse, discover, buy, and sell on eBay. Shoppers are leaned in and engaged, spending 34% longer on eBay than on Amazon (9.1 min vs 6.8 min)4. The more engaged the shopper, the more connected he/she feels to a marketplace community and the brands that are integrated into it.
eBay’s reach in ecommerce is unparalleled. Its internal technology combined with the high volume of data driven insights and a dedicated team, makes eBay a true partner and not a service – allowing brands to make the most out of their data and investment.
Ready to leverage eBay’s formula for success? Contact our ad sales team.