New Strategy Test! Plus Benefits of Pricing High On Poshmark - Poshmark Selling Tips Make Sales

so I have talked about pricing high for quite some time but I don't think I've done a video about it and today's video if you're wondering about why I do this strategy or what's the point what's the benefit of pricing high on Poshmark this video is for you because I'm going to talk about all the reasons why I price high on Poshmark all the benefits that you get from doing that and then I'm also going to share with you at the end the newest latest benefit and something that I'm working on because you know I'm always experimenting with stuff so let's dive in download your free reseller resource guide today I constantly update and share with you discounts favorites tools and resources to help you with your reselling business after the video click the link in the description and get your totally free guide today so there's a few reasons why pricing high is a good idea and if you're not sure what I'm talking about let me just give a quick example let's say you have a Calvin Klein dress and you've checked the comps and the comps are anywhere from you know blah blah blah to blah blah blah available but the solds are anywhere from $15 to $65 okay and you've kind of ruled out that the 65 and the 15 are the anomalies and that there's not many selling at that price point it's just kind of on the high and low end so you kind of throw those out and you see that when you're looking at the solds and this is you know basic comp checking that many of them are selling for $25 to $35 but you you also see a handful that have sold for 40 or 50 bucks so for me if I have this Calvin kleim dress I'm going to price it at 50 because that's going to allow me to do all the things I want to do which are the benefits of pricing high and that's what we're going to talk about today so if I price High I have now the ability to get the infamous full-priced sale it doesn't happen often it doesn't happen every day for me I feel like my sister who's ALS so a Poshmark seller gets more of them than I do but a full price sale does happen I do get them I would say on average I probably get four to eight in a month that's what I would say I don't know for sure I haven't looked at the numbers but that that's what I would guess that would be my best guess and when it happens it's amazing and it's more amazing when I do it than maybe when you do it or or when it happens to me because I put my Calvin Klein dress up for 50 you might have only put your Calvin Klein dress up for 35 so your full price sale is 35 mine's 50 Bing Bang Boom I already made $15 more and so a full price sale at an item that is priced high is just always a better thing and again it doesn't happen all the time but it is a good thing and so if you don't price High you will 100% guarantee that that never happens to you you can't sell a $35 list add dress for $50 you just can't so there's at least the possibility that I will sell my dress for $50 whereas if you price yours at 35 there is no chance that you will sell it for $50 so just you know kind of mow on that and think about that so the next the next reason why I like pricing high and this is something I have talked more about is that you have wiggle room for incoming offers many times I hear people talk about lowball offers and how it just you know ruins their entire day and then they go on Facebook and they go on Instagram and say all the things like I get it's frustrating but I don't nearly get as upset about it as you guys do and I'm not saying everybody does but somebody out there just man they just it just literally hurts them to their chest of core and they just can't move on and they tell everybody about it on the internet they tell their husband about it and you know their best friend and it really gets to them and I just don't care like lowball offers are fine it's no big deal because you don't have to take the offer but like what's lowball in relation to what and how much wiggle room do you really have with your items for someone to make an offer and feel like by them asking they're getting a good deal cuz really this is just haggling this is if you went to some bizarre you know somewhere in Morocco or whatever and they said it's 50 and you say I'll give you 20 and they say 40 and you say 30 and you do this whole dance right it's just what people do more cultures some cultures more than others but it's just what some people do they want to feel like they're getting a deal they want to feel like they negotiated it they want to have like a part of it that they got a deal that no one else got because you put it up for 35 they want to offer you 15 they might pay 25 but they still want to try to get it for 15 and I don't fault anyone for that so what I'm saying is that if you put your Calvin Klein dress up for 35 and you know that you cannot take 15 you don't have a lot of wiggle room for offers like you could take 30 maybe you can or can't take 25 like I don't know what you paid for the dress so there's math involved that's different from businessto business that will say like you just don't have a lot of wiggle room you say in your listings offers welcome you have the sign don't like the price make me an offer but only reasonable offers and here's a chart to show you a reasonable offers I will say I haven't seen those charts that much anymore I really hope the message got through because I used to hate those charts they were so off-putting the charts that would say well you can offer this and this is reasonable and like oh my God but anyway the point is that if you price it at 35 we don't know what you paid but your wiggle room for offers is less than me because I'm putting it up for 50 and I'm expecting in my business model that I could take up to 50% off that's kind of already how I go into it so I know based on my buy cost and based on the listing price that I want to put it at I know that I can already still make money even if I sell it for up to 50% off and that's part of my pricing formula I do have a video on that specifically if you want to know more but the idea of having this wiggle room built in for taking offers and being able to accept more offers and still making the money I want to make is great because those offers are going to come people are going to make you offers so would I take 15 no probably not but I could take 25 and be totally happy where for you you may or may not be able to take 25 and you only listed it at 30 so that buyer is only getting $10 off where on my side they're getting $25 off they're excited for that deal so that's incoming offers and that's a big part of it on the same token I counted as a separate benefit but really it's the same idea so I won't have to talk about it as much it's I do plan to send out up to 50% offers I have a progressive and aggressive offerto Liker strategy which involves getting in front of the buyer multiple times each time offering them a bigger discount this is a sales strategy that I use that works wonders and I do have a video on that so just search Rebecca the reseller offered a Liker strategy and the most recent one is the newest strategy I had two the most recent one is the one but I know that I can send 20% off offer I know I can send a 30% I know I can send a 40% and I know I can send a 50% offer and have all those chances to make a sale to somebody that liked that item but if I only price it at 35 I may not be able to send those kinds of offers can you do you send 50% offers if you price it at 35 you might not I mean if you're a bin Shopper maybe but many people that I talked to in coaching calls the one I did the other day she said I send 20% offers most of the time sometimes 30% if it's slow sales and I told her I was like that is not enough that is not enough because you're not reaching out to the buyer reminding them to buy your item and giving them a discount incentive you're not doing it enough times people need to hear things people Miss offers people are not sitting there on their phone waiting for you to send an offer they're not paying attention they're out living your life but if they just happen to see your offer one day maybe they don't take it but the next day or not the next day but the next time you send the offer it's bigger they're like I'll do that bam and and usually when they get up into the 50% kind of offer people take it because either one they assume that someone else is going to take it and so if they really want it they better take it or that there's not going to be a bigger offer because who sends more than 50% off and so that that's the big offer and that's the one that they should snag it on and so 50% is you can't go wrong with a 50% especially if you're still making money when sending it and when you price high you can at least I do with my pricing formula so like I said for you at 35 on the Calvin cess you have less wiggle room for incoming offers and for outgoing offers and that's I think a big deal I want to make you aware of the hottest the best deal I have ever offered in my Rebecca the reseller Academy to find it all you have to do is scroll all the way down to the bottom and you will find this right here hot deal best value all courses and digital downloads for life this is it friends this is as good as it's going to get I'm giving you everything I have in my Academy all the digital downloads all the courses for just $20 the best part is if I create a new digital download going forward you will get it absolutely free this is the time to lock in the best deal I have ever offered all you have to do is go to Rebecca the reseller Academy scroll down to hot deal and purchase it for $20 if you're wondering what comes in this it's everything so you're going to get all of my courses and you're also going to get all of the digital downloads that I've created including my keywords list my listing forms my my Poshmark closet signs everything that I have created and everything that I ever will create will be yours for literally 20 bucks the other one that I have is my Shoppers and many of you do not utilize this enough although we all know there are people out there that utilize it plenty because I get all kinds of comments and all kinds of offers and so and so is styling you I get the bundle offer and then I also get the comments with all kinds of nonsense in there and I do have have two videos I did a series two videos talking about my my shopper strategy and then things you shouldn't do with my shopper strategy so I'm not going to go over that here because you can watch those videos and get all the in-depth stuff but a my shopper strategy done right and not done too many times so infrequently I usually do mine about quarterly can give couple hundred to over $1,000 in sales in just a day and you know you're not doing the work you're just setting up your mind Shoppers and letting it run and so for me I use those and every time it performs every time and because similar to having the wiggle room because I price High I give them great opportunities with the my Shoppers and the discounts that they can get and because you do it in a different way than just sending an offer to lyker it's like a different kind of sale I try to do it in like when people may already be in a buying mood like obviously we all know about Black Friday kind of type of shopping frenzies that can occur so you want to jump on that and kind of get in on that so that is definitely another reason alone while connected to the wiggle room situation it's another strategy that's in my toolbox that I can only use when I price High because if you send out a my Shoppers comment to all your people and it says I it's Mother's Day and I want to celebrate you and you you can have 10% off of anything here but except for the things that are this and except for the things I listed on Tuesday and oh by the way I can't ship it for three weeks because I have a surgery and you know people put all kinds of stuff in these comments and so they're not making sales that way and so when I send out my comments which again I talk about in those videos it is highly efficient and productive and the only reason is because of the price High ability and so you might have sent out a comment and said oh my Shoppers doesn't work for me I sent out my thing and just I didn't make any sales and it was just a waste of time maybe your comment wasn't so good maybe you do it too frequently or whatever but also it could be because you're not able to give them the meat on the bones they want the big discount they want the good deal and so that's what I think is important there so I know I kind of rambled a little bit in this one I'm sorry but pricing High allows you for full price sales wiggle room on incoming offer offers wiggle room on sending out aggressive and Progressive offers and it gives you wiggle room with the my Shoppers feature which I feel are all really good reasons to price high so I'll give one point and then I'll give you the new benefit that I've recently been working posher VA is a tax deductible business investment that pays for itself many times over each month it increases Poshmark sales because it shares and sends offers more than I ever could manually it handles all my shares automatic offer to likers bulk offers and it can do price drops and relists when my coaching clients add posher VA it makes more sales basically immediately the best part is that you get your time back more time with family thrifting whatever get 20% off with code Rebecca the reseller and the link below on so the last thing I will say is it's not too late for you to price high if you are kind of bought into everything I'm saying today you can make these changes immediately all you have to do is go to your listing increase the price to what is still within the comps but on the high side of the comps and then I would relist it at that higher price so that you kind of have that locked in and so then in the future you could do other things but I think locking it in on a relisted high price you can go through and do that for all your listings and then you can say great I've now added $10 let's say to all my listings so I know that I can now offer deeper discounts going forward because I just like inflated them by $10 or whatever now you can't just do this and add $10 on something that doesn't deserve $10 to be added to so you can't take your Calvin Klein dress and put it up for $130 like that's not really within the comps maybe you found one but it's not a reasonable comp so you need to price high of reasonable comp so make sure that you're kind of like living in reality the last part of this is the new benefit that I found which I really did not make use of before and I don't know what I was thinking because it's been working wonders so what I'm doing is I'm price dropping I'm using posher VA to price drop and so I'm just going in setting it to price drop the 10% pretty much like what you would do for closet clear out except I just don't pay attention to closet clear out I just do it whenever you know I set it I have like a calendar of things that I do and when I do them and I'm going to put together a video of everything that I do in the future but for me I like systems and routines and processes if you couldn't tell so for me I H I do it on Thursday and so you know when I drop the prices everything gets lowered 10% from its historical so if it had been dropped before it's going to get dropped again you know and it keeps going down but I have tools and systems in place this is what I'm working on right now to kind of give you the full strategy but the reason why I say price dropping is kind of the new thing that I'm experimenting with is because if I price high if I list let's say the Zara address at $50 and I didn't get the full price sale but I do have wiggle room for offers I've been sending out Progressive and aggressive offers but it's just not selling so maybe it was not a good style maybe it's you know nobody wants it whatever so I can now go from 50 to 45 and then I can go from 45 what does it go to does it go to 40 what whatever the 10% off is from there yeah I think 40 and then it goes to 36 and so I have like several opportunities to drop the price on the item and then I can also choose to pair that with the offers that are going out so so it's like kind of like a mind thing for the person because it's at 50 now but then it's going to go to 45 well if it's 45 and then it gets the offer sent out now that's even lower prices so it opens back back up more opportunities to get in front of buyers if they're still there and then two it just puts you in a new pricing category I started at 35 it might have sold at 35 but if I started at 50 and drop it to 45 and then send out all my offers and stuff now I'm still higher than 35 but I had more opportunities if that makes sense like I'm still working through this but the idea is that once you price low you can't really I mean you can fix it like I told you you can go fix your prices but you once the item sells you can't go back and fix it is what I'm saying so I'm saying I'll wait a little bit to see if I can sell this item at the higher prices first and then I can always Implement strategies that help me lower it down to where it might have needed to be in the beginning but at least I gave myself the opportunity to sell it for higher and that's what happens a lot is that I do sell it for higher and so because my price high and have all of these strategies going in it's like it could sell for 50 or it could sell at 45 or it could sell at 40 or it could sell at 36 all of those options are higher than if you priced it at 35 35 is the max that you're going to get I have many opportunities to sell it for higher than you do by pricing it at 50 so sorry it was a roundabout way to get my thought out but I am working on a very specific experiment with very specific strategies regarding pricing high and dropping the prices and how everything works together so stay tuned for that video it will come I'm just not ready to like share all the things yet I've got to kind of cross some teas and Dot some eyes before I do but I do hope that pricing high if you're not already doing it at least you're open to it by the end of this video to see all of the different benefits that I'm realizing that you may not be realizing if you're not doing it and so I may not fully convince you maybe you want to try it out on some items but I do think that there's something to this and I think that you pricing something because people will say I price to sell yeah but do you because it's still in your closet like did it sell it didn't sell yet but I have many opportunities to sell it cuz I priced high so I can employ all of these strategies that you might not be able to because do price to sell so I think that there's kind of like this inherent battle between price to sell versus price high and I Comm on team price high so hope that helps you I appreciate you guys I love that you watch and I just want to keep giving you more and more good information so continue to be here and continue to subscribe thanks and have a good day

Channel: Rebecca The Reseller

Views: 1,530

Keywords: full time reseller, full time reseller poshmark, how to make daily sales on poshmark, how to make money flipping stuff on poshmark, how to make money selling on poshmark, how to make money selling stuff from goodwill, how to sell on poshmark, make more money on poshmark, make more sales on poshmark, poshmark seller, poshmark selling tips, poshmark tips, poshmark tips 2023, poshmark tips and tricks, what sold on poshmark, increase poshmark sales, more poshmark sales, reseller

Id: gCqsxvI-OJs

Length: 20min 20sec (1220 seconds)

Published: Sun Jun 02 2024