Part 2 of 2 on How Fraud on eBay Hurts Sellers. This part deals with tools to help you sell more on eBay by giving buyers confidence in your eBay business.
Part 1 of this post (see below) covered what eBay can do to bring buyers back to the platform who have been frightened away by the perception of excessive fraud. This part deals with third-party eBay selling tools that can help give eBay bidders confidence that they are dealing with a serious seller who will stand behind his or her eBay business.
I use several third-party tools in my eBay auctions. These eBay selling tools include buySAFE and SquareTrade. Recently I have just started testing a new tool called Reliabid. Each of these has different functions and each costs money –but do they, or will they, pay off for you?
The SquareTrade selling tool has been around the longest. SquareTrade is a company that puts a seal in your auctions that says you are a SquareTrade approved seller. To get a SquareTrade seal you have to verify your identity and that your identity matches your eBay username, profile and auctions. Once this is done, SquareTrade has an interface that will automatically place the SquareTrade seal in your eBay auctions.
When a potential bidder clicks on the seal they will see your profile that states that your identity has been verified and that you are a seller in good standing. SquareTrade also offers a dispute resolution program that will help you remove negative feedback.
Getting the seal is not a one-time thing. SquareTrade has a compliance department that watches your auctions to see if your feedback has changed, if your selling habits have changed and that you remain in good standing.
SquareTrade charges $9.50 a month. eBay offers something similar for $5.00 called ID Verify, but it is a one-time ID verification process and does not include the ongoing compliance checking or the dispute resolution service. I have not seen any data that proves SquareTrade increases your bids or final values. I have used it since 2002. Unfortunately I have not blind tested it to see if there is any change in my outcomes with or without the seal.
buySAFE is a bonding service that I have used for the past three years. It does work for me and they have data that shows it increases conversion ( successful sale) rates by 2.1% and final values by 4.7%. These are not huge numbers but that study was across all types of auctions. I have noticed a higher sell through rate and final values my more expensive products –although even lower priced products have benefited as well. buySAFE is a proven tool used by some of the biggest sellers on eBay.
Reliabid is the new guys on the block. They were the title sponsor of this year’s Professional eBay Seller’s Alliance conference in San Francisco. Reliabid is designed to help you reduce the number of non-paying bidders. In addition to a seal program that lets sellers know you are a professional seller, if a deadbeat buyer doesn’t pay you even after you go through eBay’s NPB process, Reliabid will actually send a collection service after the buyer and attempt to collect for you. The seal actually states: “This auction is protected against Non-paying bidders.” Reliabids studies conclude that fewer potential NPBs will click on your auctions thereby saving you not only the hassle but losing money and listing fees.
Reliabid contacted me this week and made an offer of a free 30-day trial and $10 credit for my readers. You can click here to see a demo and get the offer.
The main purpose of the Reliabid seal is to increase your eBay sales and profits by eliminating deadbeat bidders. But, an added advantage is that having the seal actually gives people confidence in you by making you look like a serious –more businesslike seller.
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