If you’ve been on Poshmark for a while, you may have wondered why those on the buying end are able to submit offers, but not those on the selling end.
Finally, sellers have that option – well, kind of. Poshmark’s Private Discount feature is as close as we will get for now. What used to be offered only to anyone who bundled an item of your, is now available to any likers of your listings.
Essentially, the product allows the seller to offer a discount that is only visible to likers of the listing. However, you can’t offer the same discount to the same subset of likers twice: your offer has to be lower than any previous offer within the past 90 days for the same liker(s) to see it. New likers, however, can be offered the same discount if you would like them to.
Today, I will walk you through the new feature, as well as show you how to effectively use it to get sales. My demonstration will be from a web browser, but it’s pretty simple to figure out from the mobile app, as the buttons look exactly the same. Make sure you have updated to the latest version for Android or Apple!
Alright, let’s begin:
So above, we can see that I have a new like on a listing of mine. If I click on it, we will see this:
What this has done is taken me to the users dressing room, where you can share new listings with them and offer a discount if you notice they have items in their bundle. Since this user hasn’t added to their bundle, I will instead offer a private discount through their like.
To get started, click on the picture of your listing:
Once you’ve done that, you’ll be taken to your listing, Here you’ll see the Price Drop button to your right, or at the bottom of the screen on mobile.
Go ahead and click on that:
Now, there are two things you can do here:
1.) Edit Listing Price will take you to edit and update your listing’s price. This will let you either raise or lower the price. However, this price change will be public and therefore not exclusively available to likers of the listing.
2.) Offer to Likers will take you the screen below:
Now you can offer the discounted price exclusively to likers of your listing, so it can’t be viewed publicly. However, you must both lower the starting price at least 10% and offer some sort of discounted shipping (either $4.99 discounted shipping or free shipping), which you pay for. Therefore, it’s hard to offer discounts on listings with lower starting prices, as you can end up taking a large hit on your margins.
Once you hit Submit:
Congrats, you’ve now submitted your offer!
Once you submit it, keep in mind: only likers who haven’t received the offer you just submitted previously will receive the new offer. For as example, the original listing here received eight total likers, but as we see above, it was only sent to one of those likers.
Because of this, it’s important to use this tool strategically. While it’s nice to prevent us from bombarding (and being bombarded) with new offers, it can also be inhibiting to our marketing efforts.
There are a couple things to keep in mind when using this tool. First off, since we know that we can only send the same offer to any one liker once within 90 days, it’s best to come up with a plan of attack. Should you go lower, or wait the full 90 days before offering the same discount? I tend to have a general timeline for each of my listings, of when I’ll lower the price privately, as well as publicly. This kind of depends on listing to listing, but to use an example, I’ll keep my private offer the same for 105 days before going lower, and then I’ll lower the price publicly after 120 days if still unsold.
Another thing to keep in mind is the emails that likers receive when you send them a private discount. They’ll be made aware of how many other likers were sent the same offer within the same time period. You can see an example below:
This can be huge as seeing that other people are being sent a similar bid may be an incentive for likers to purchase with more haste.
Finally, think about how soon after receiving a new like is too soon to send an offer. I generally follow a few guidelines here: If your liker has also shared a few of your other listings, it’s most likely that they are simply another seller either trying to get attention for their closet, or they’re simply showing support and hoping you’ll return the favor. Someone who likes multiple items without returning at a later time to like more or add to a bundle is most likely the same type of posher.
So, the goal here is ultimately who distinguish which likers can be converted to buyers, and which ones aren’t serious. In my experience, anyone who likes along with either a comment, bundle add, or a request to style is someone who is seriously interested in your listing and potentially purchasing. From here, the timing of sending over an offer is really dependent on your gut feeling. I tend to offer it within a few hours of not hearing a response or seeing any new activity as a way of following up. Keep in mind, though, that you may be better off with a different way of following up, as they may be willing to purchase at full price.
I hope this demonstration, along with helpful posh selling tips has been helpful. I’d love to hear other posher experience with the Private discount tool! Let me know any other tips or experiences in the comments below.