There is a new Private Offer feature on Poshmark.
Let me preface this by saying that as of today, not all users have access. Once this rolls out to all users there may be tweaks and changes. If you are reading this long after the fact- some details may be different. But this is from my experience the weekend after the launch.
So what is this new feature? Well, you might be wondering why you are receiving offers on items that you have only “liked” in passing. This, my friends, is the new Private Offer Feature!
I know, I know, the Private Offer Feature has been around for a while… for BUNDLES. But this is far more useful and effective. And, yes, it lives up to the hype.
Basics of the Private Offer to Likers Feature:
There is a new button on your listing:
You get 2 choices to promote your listing:
Regular Price Drop OR Offer to Likers.
You can send offers to all the likers of an item with two stipulations:
You must offer the at least 10% off. Don’t worry there is a little calculator to help you decide how much to offer and if you can swing it.
You must give them a shipping discount of -1.50 (you pay 1.50, buyer pays 4.99) or free shipping (you pay 6.49, buyer gets free shipping). The shipping amount you pay as a seller comes from your profit after Poshmark fees. This, in my opinion, is what really seals the deal.
The Offer stands for 24 hours. The liker/potential buyer gets a notification once you submit the offer and also, they get an alert 1 hour before the offer expires! If someone takes you up on the offer and purchases, the ones who missed out will be alerted that they missed out on a great deal.
Why the Private Offer to Likers Feature WORKS:
- It’s shiny and new. People are caught off guard and are jumping on the offers. Seriously, this reminds me of when price drops first rolled out a few years ago.
- Discounted or Free Shipping. I mean, it’s no secret that both buyers and sellers agree that we would sell more if shipping were less… we can’t control Post Office prices but we can help foot the bill.
- The offer lasts longer. When you drop a price the old Closet Clear Out way- the “likers” get one hour. Just one. Now sure, sellers are glued to the app. But a buyer? They probably only check the app when they are looking for something and may or may not have price drop alerts set to show on their locked screen. But now, they have 24 hours to see and respond to the offer, unless someone else buys it first. This creates a new kind of urgency.
Other fun facts:
If you have sent out an offer and you get a new like, you can send the offer out again and it will go only to the new liker(s)!
It doesn’t matter what the historically lowest price was (like on a price drop), it is an offer based on your listing price! It just has to be 10% lower than your current listing price. (Yes, this means you can raise your price, then send an offer)
They can still counter. If they choose to counter- they forgo the discounted/free shipping. Don’t worry, Poshmark makes this very clear when they counter.
Seller Tip: Make sure to check your offer tab OFTEN if you are sending offers! The alerts can get confusing and there are TONS of them! You don’t want to miss out.
Some of the alerts are worded strangely. Note how this offer says “your” when it’s an offer she sent to me on her item:
(Yes, Apple, I know how to manage my storage, thanks…)
The Future of CCO and Private Offers:
Let me be honest for a second, we all know that Closet Clear Out has lost its steam in the past couple of years. It’s hit or miss for most sellers and far from how effective it used to be. Naturally, the Poshmark geniuses needed to find something to boost our sales and they delivered. I don’ know what the future is for CCO and I have no guesses as to whether it will continue as scheduled. BUT, I have a feeling that this new feature will slowly take over and become the norm. CCO/price dropping still has a place for items that your bottom line cannot absorb shipping costs so it’s still nice for Poshmark to foot the bill on the shipping discount once in a while.
I Predict Big Changes to Likes…
I feel pretty confident that this will change how and why users “like” items. I just posted Likes on Poshmark where we discussed all the reasons someone may like a listing. Here is what I see happening…
1 Possibly Fewer Likes. People may not randomly like because they don’t want all the alerts. Less spam likes for sellers!!
2 More Serious Likes. You can’t watch from the sidelines anymore waiting on a price drop! A private sale may be going on with discounted shipping and potential buyers will need to like your listing so they won’t miss out.
Either way, it’s a win/win scenario.
Don’t forget, as with anything… You have to have someone who WANTS your listing. I had great success with this feature over the weekend- but I also got hundreds of declines on my offers. Basics still apply: You must have a great, quality item that people WANT with good photos and an accurate detailed description… otherwise its going to sit there at any price… even $5.
Lastly, since I have your attention, let me tell you about a new thing on the blog. There is a new menu option called Poshmark Basics it features short quick explanations of Poshmark Basics. If you have a new user asking questions, feel free to refer them to that easy to find section to answer their newbie questions!
What do you think about the New Private Offer Feature?
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