So, you’ve joined Poshmark to become a seller, you’ve created your first few listings, and now you anxiously await a sale! But, then what? Have you thought about what comes next? The long term. What exactly are your visions and expectations from your new immersion into the Poshmark community?
I honestly didn’t think about it too deeply when I began. I was raising four kids, 3 of them teenage daughters who change their minds about style quicker than supermarkets change their displays after a holiday. I was in it to recycle styles they had outgrown in into something useful they would wear. My initial inventory came from their closet cast-offs and I had no future plan.
But then the Poshmark bug bit me. And I thought what if. What if I could actually make a substantial enough profit to make a living. Or part of a living. Enough of a living to not have to struggle as much as I was after becoming a newly-divorced mom of four.
So, that’s when I hit the shelves. Not the shopping shelves, that would come later, but the bookshelves at my library. I, after all, am a librarian and whenever I need to learn how to do anything, I know there’s a book for that.
I started with a selection of goal-setting tomes and small business start-up guides, since Poshmark would essentially become my own small business. I dissected the information, skipped over the stuff that didn’t pertain to me, and absorbed the information I found useful.
That, and my own personal experiences continue to pave the way for my business and my goals. Here are some questions to consider when you are developing and growing your own Poshmark closet and sales business plan.
- How will I brand and market myself as a seller?
- What will I do to increase my following in the Poshmark community?
- How can I create a buyer experience that will have a lasting effect?
You may not considering branding when you are first starting out, but creating an image as simple as a profile picture that is unique is a great way to stand out from the crowd. Following others on Poshmark helps to increase your own number of followers even if not all of them follow back, and ‘sharing is caring’. Sharing other seller’s listings is a positive way to increase the own visibility of your items when your shares are reciprocated. Joining in on Posh parties and applying to be a Posh Party Host gives you an instant boost of followers and likes on the days before and after your assigned party. Learn how to be a Posh Party host and other great Poshmark tips through Poshmark’s FAQ page.
- How many active items do you want (and have the storage space at home) to list in your closet?
- What types of items/clothing will be the focus of your closet?
- What size/s will you try to market to?
- What brands of clothing will you allow for sale in your closet?
- What condition of clothing (gently-worn, new with tags, etc) will you sell?
Once you have a clear vision of what you are going to sell as the focus of your closet collection, you can move on to goals specifically related to selling your items.
- How many items do you hope to sell each day, week, etc.?
- How often will you add new items to your closet?
- What tools will you use to determine your asking price?
- What percentage off your asking price are you willing to accept as an offer?
- How will you evaluate what is working for you and what isn’t?
The Poshmark app collects all your data for you and formats it into a handy Microsoft Excel spreadsheet under “my seller tools”. Here you can download a sales report tailored to any date range you choose, and you can also find an inventory report that organizes your available listings. This is a great tool to see what areas you need to beef up, how long an item has been listed for, and other useful information that can help you make decisions about your existing closet.
Other fun features within the “my seller tools” section of the app is your seller discount where you can set a discount percentage for bundled items. This feature takes the guesswork out of you having to do math and allows potential buyers a chance at savings and reduced shipping, both being a major plus.
Everyone will have their own individual goals. Consider your goals carefully and set clear outlines for yourself and your practices. There is no one-size-fits-all plan for Poshmarking. Which, is part of what makes this app so great. You get to be the CEO decision-maker for your closet including everything from your item selections, your presentation of your items, your asking prices, and your interactions with the Poshmark community. So, make it all shine!