Senior Tech Team
Join Date: Sep 2002
Location: Memphis, TN, USA
Why there is no E(bay) in FAANG
FAANG = Facebook, Apple, Amazon, Netflix, and Google - the companies with the highest stock valuations.
I think I've figured out why there is no E on that list.
Ebay throttles, it's common knowledge. Everyone who has tried to make a business on Ebay knows there are hidden selling limits, despite repeated denials by Ebay. No matter how much you try to expand, you eventually hit a brick wall. So to expand your business, you have to do so outside of Ebay. I've done this by opening a storefront with Shopify. I still get the majority of my sales via Ebay - but I use a third party app as an interface between Shopify and Ebay which creates my Ebay listings for me from those I already have on Shopify. I have many more items for sale on Shopify than I do on Ebay.
That same third party app shuttles all Ebay buyer information over to my Shopify store, including email addresses (which neither Ebay nor Paypal will allow you to download). Those email addresses are important - more on that in a minute.
Part of my get away from Ebay plan includes things not related to my parts business, namely using Facebook to sell products from a different Shopify store, which are then shipped directly from the manufacturer.
I've been learning a lot in the last couple of months. This type of selling is completely different from Ebay. You have to create your own audience via advertising. I've started advertising on FB and I'm getting some sales. But here's the thing - every guru out there says the same thing: the money is in the list. Eventually, you end up with a list of people who have either visited your website or purchased, and have willingly given their email. This list is gold - potential buyers who have already indicated their interest in your store by visiting or buying. You can then create marketing campaigns that target these receptive people and make additional sales.
Back to Ebay. Since my third party app transfers the email addresses of people who have purchased from my Ebay store, I have a literally gigantic database of people who have indicated they are interested in what I have to sell, because they have already bought some of it. If I choose, I can market to these people - specials, discounts, bundling, etc., and here's the thing, even though Ebay is responsible for each contact, and Ebay has willingly allowed the third party app to transfer that data, when it comes to any email marketing campaign I run, they are cut completely out of the loop. They get nothing, nada, zilch, zip, zero.
So by trying to limit me, they have shut themselves out of a commission on hundreds and perhaps thousands of dolllars worth of sales.
Nice work, Ebay. See you in the garbage heap.
Originally Posted by jpete, Dean, Derek69SS, hoffbug, rubadub, Grandsport, Thomas Jefferson, 1badss396, MEJ1990TM, and mrdjc99
As usual, Andy is right
If it doesn't fit, force it. If it breaks, it needed to be replaced anyway.
I have to keep reminding myself this isn't a Z16 convertible, Evening Orchid Camaro, or factory 1966 SS427 and get on with it.
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