You must consider a few things to ensure your MACHINIST EXCHANGE listings will be successful. The classic marketing mix, or 4Ps of selling, asks you to consider your product, price, place, and promotion.
Popularized in the 1960s, the 4Ps still have practical applications for selling used machine tools online. Here are some tips that will allow you to sell your machine quickly and at an optimal price.
Product: Introduce the product and its qualities to the buyer
On MACHINIST EXCHANGE, title and description are what buyers will scan through. You have probably less than a second to capture their attention. Be sure to include this information so as not to dissuade interested buyers.
- Format your title using the machine's brand and model
- In the description, include the production year, the machine's condition, and any optional additions
- Consider adding the machine's location to attract serious buyers
We encourage all sellers to include high-quality photos and videos of their machines. Taking the time to curate these visual elements will set your listing above the rest.
Machine tools often require significant investments of capital. You want buyers to feel confident that you won't waste their time or money. So please, take the extra time to clean and polish the machine. A clean machine can significantly impact the buyer's perceived quality.
Present your machine from all angles, including any areas of damage. Buyers know this is a marketplace for used machinery and will trust sellers who are honest about the machine's condition. Finally, hiring a professional to collect photos and videos of your machine is a guaranteed way to increase traffic and sell faster.
Price: Balance the actual cost with the perceived value of buyers
On MACHINIST EXCHANGE, we offer several different transaction types to give sellers the best chance of attaining the equilibrium price point.
- Auctions
An auction is the best way to achieve an equilibrium price for your machines. The auction typically lasts 1-3 weeks, but you have the option to adjust the duration. You can implement a starting price to entice buyers to begin bidding on your auction. Not to be confused with the reserve price, which will remain hidden from buyers and allow you to control the minimum price you are willing to sell. We conduct all auctions on-site, eliminating any hidden costs or fees. Workflow being completed entirely on the MACHINIST EXCHANGE platform also allows us to feature your machines on our website and other marketing channels at no additional cost.
- Public price
If you want to sell your machine fast and there is already an established market, the public price transaction method will allow you to do so. Typically, a public price makes sense when the seller can afford to offer the machine at a favorable price. This transaction type indicates to buyers that the seller is looking to sell quickly. You may, of course, choose to reject any submitted offer. And the decision to accept an offer will allow for further negotiation or a sale to the interested buyer.
- No public price
Finally, you may choose the "no public price" transaction type and allow interested buyers to come to you. This will enable sellers to gauge the amount buyers are willing to pay for their machine. As always, MACHINIST EXCHANGE gives complete control to the seller. Any submitted offer can be rejected/accepted, as the seller is given the final say in the price they are willing to sell.
Promotion: Increase the visibility of your listings to consumers
MACHINIST EXCHANGE offers varying levels of a promotional package that will allow you to increase traffic to your listings. The GOLD and SILVER promotional packages will enable you to feature your listings in various marketing channels.
- GOLD
At any time, there are only nine available GOLD memberships to all users on MACHINIST EXCHANGE. Listings with a GOLD membership will highlight your machines as featured listings. Emails and newsletters will direct traffic to your listing and show them at the top of the page in relevant searches.
- SILVER
There is no limit to the availability of SILVER memberships. Silver listings allow you to reserve space on relevant searches and will always be shown below GOLD listings. It's a simple and effective way to attract interested buyers.
Beyond our available marketing packages, MACHINIST EXCHANGE has partnered with Five Axis Marketing. Five Axis is an experienced marketing agency that specializes in the machining industry. On MACHINIST EXCHANGE, Five Axis will work directly with you to offer marketing services designed to help you sell quickly.
Place: MACHINIST EXCHANGE, a marketplace unlike any other
MACHINIST EXCHANGE is a modern online marketplace designed specifically for the machining industry. We created the platform with sellers and buyers in mind and provided them with unique features to achieve their goals. We complete transactions on our website and give the option to make secure payments through our partnership with Escrow.com. In addition, every user is required to register with MACHINIST EXCHANGE so that they can enjoy an efficient and effective marketplace.
This verification philosophy carries throughout our entire platform, even down to the listings. We require sellers to fill out structured fields such as machine category, brand, and model. We ensure you can quickly identify every machine but leave enough room for the seller to include other relevant information. The goal is for buyers always to be aware of what they're looking at while not hindering your ability to sell machines.
Buyer or seller, MACHINIST EXCHANGE was designed for you. We are confident you have every tool to be successful. There's no risk; we offer a money-back guarantee (*), so get started on MACHINIST EXCHANGE today!
(*) see terms and conditions here