So, you want to know “How to be Successful on eBay”. Well, it’s really no secret. To be Successful on eBay, it only requires that you stay consistent with everything that you do. In this Post, I will be giving some Seller Advice.
Learning from good Seller Advice is crucial if you want to be successful on eBay. Of course, in the beginning, there will be a learning curve, and this is the reason as to why I decided to write this Post for you.
The following information will be based on my many years as an eBay Power Seller/Top Rated Seller, the experiences from other Power Sellers, General successful eBay Sellers and the “All Mighty” eBay themselves.
Sure, there could be a Thousand things that you could do as an eBay Seller. Some of these things just may not be suitable for you or you’ll just never, ever get to use them. In my opinion, there are only a hand full of things that I believe you would need to do to be successful on eBay.
I will be releasing a series of Posts relating to this Topic. I know what I’m talking about, so I’m putting this information “Out There” for the world to use, judge and improve upon.
JUST ONE THING TO DO TO BE SUCCESSFUL ON EBAY….. AND STAY THAT WAY!
The following is part of my “eBay Success Series“. I will be Posting this information in no particular order because I didn’t want it to seem like a Step-by-Step List. Just refer to the list when you get to a certain point in your eBay Selling Journey. It is only an opinionated list, also based on 10’s of thousands of successful eBay Auctions/Listings as well.
- Low Starting Price – Before you list your Auction, ask yourself what’s the lowest amount you’d be prepared to accept for your item. A low starting price will attract more bids and at a quicker pace – usually within the first day of the listings. Research shows that a 0.99 starting price will get you bidders within a few hours. Many vehicles and high value items are sold with a low starting price especially by established Power Sellers – because unless it’s an extremely poor week the item will normally end up with hundreds of bids and at a cost that’s acceptable to the seller. Additionally users are more likely to view Auctions which already have a successful bid as it generates interest in your item. It’s like if you see a Market Stall with hundreds of people standing around it – your curiosity would tell you to stop and see what’s generating interest. Use curiosity to your advantage.
- No Reserve – Many sellers still place reserve prices on their item. A reserve price is one which unless it is met by your sellers you are not obliged to sell the item. An example would be if you have an reserve of $10, and your item sells for $9.00 you do not have to complete the sale & release the item. Reserve items, although very occasionally may be necessary in the case of extremely high value items or businesses for sale are off putting to bidders. Why would you bid on an item with a reserve price on, unless you already knew were aware of what the reserve was. Personally I’d look for alternative items without a reserve price. eBay has already removed the Reserve Price option from some of it’s site in a move that is largely welcome by the majority of users. It could be a sign that this policy change will be extended to all of it’s sites.
- Cross-Promotion – You’ve worked hard to get users to view your listing, so while their viewing it also include a link to any other items you’ve available. This is allowed in addition to the already provided link to “View other sellers’ items”. You can use Commercial Services (such as Anadale) to include images and descriptions of your other items.
- Become an Expert in your Field – Become an authority on what you do in your online auction business. It doesn’t matter if you sell fishing lures, ink cartridges or collectible glass — you want to be thought of before anyone else. Lynn Dralle sells flatware and dinnerware that she sources from garage sales and thrift shops. She has over 2000 listings in her eBay store. When someone wants to replace a missing fork or plate from their set, they go to Lynn first and because she has so many listings. When you search for something she is selling, her listings always come up at the top of the search. When you become an authority in your field, a whole new universe of business and opportunity is opened up to you. I buy certain types of things on eBay from the same sellers over and over. I wouldn’t dare do business with anyone else, not when they have proven themselves and their product. You want to earn that same type of position in the minds of eBayer’s for your niche. Also continue your auction education. Read books and training manuals, visit the chat and message boards, attend an eBay University when it comes to your town, go to eBay On Location, and keep learning all the time.
- About Me Page – Sell yourself on your About Me Page. This is your chance to establish some credibility for yourself. The biggest reason people will not buy from you online is because you have failed to establish any credibility for yourself. So include details about you and your business. Where are you situated?, how long have you been registered on eBay?, What do you specialize in? If you’re a high volume seller you may also want to include a photo of yourself. Have a look at other About Me pages to see what works and what doesn’t.
- Build Credibility – Be trustworthy. Remove every doubt about your credibility. You can do this through presenting yourself positively through your feedback, being passionately devoted to your business and by being an expert. See the section above on creating an About Me Page. A photo of yourself will humanize the online experience and can bring amazing results. One with your dog or cat in the picture is even better.
- Shipping – Don’t be tempted to over price your shipping costs and try to make a small profit on this. Firstly you can be found out to easily, and it’s one of the most unforgiving things for a seller to do. More importantly over pricing your shipping costs is against eBay policy. If you’re offering digital goods such as an eBook or special report, you may consider a small handling fee to cover your time and administration costs. If you do make sure it’s fair and clearly highlighted within the item listing. The last thing a bidder wants to do is find out there are unexpected costs associated with a purchase they’ve made.
- Instant Attention – Give immediate attention to your bidders and prospective bidders. Don’t leave a delay of days before responding to any emails or phone calls. And following a successful transaction you may want to email your bidder to tell them when the item has been shipped and when it will be expected to arrive. I know many sellers, some of them Power Sellers who takes days to respond to a simple email. If you don’t have time to respond immediately consider delegating the responsibility to someone else who can respond on your behalf. Never give any bidder reason to doubt whether you’re a genuine seller or not.
- eBay Store – Opening an eBay Store is a necessary step for anyone medium sized seller. Not only do you benefit from cheaper and longer listings within your shop, but you can also cross-promote your products easily, send out newsletters and establish a trusted brand for your listings easier. Also you’ll gain more coverage (and hopefully bids) for your listings by appearing in the eBay store directory.
- Feedback – Leave feedback for the winning bidder as soon as the item is paid for. Some sellers like to protect themselves by only returning feedback when it is left for you. I consider this unprofessional and your bidders will most likely think the same too. Don’t be scared of getting a negative or neutral comment on your feedback record. The majority of users will consider all of you feedback before bidding, not just looking at one or two comments. Additionally if you deserve any feedback left for you such as if you were late shipping, accept it was you fault. Don’t be too worried about admitting it with an apology in response to your feedback. You may also want to compensate your winning bidder with reduced postage or a bonus item to show it was a genuine error on your part. If you know the there is going to be a delay in completing any transaction, email the bidder and inform them. Apologize with a comment such as “This is a rare incident that’s completely out of my control. I hope by looking at my feedback record you will see this is an completely isolated incident”. Always try to keep on good terms with all your buyers. Your sincere words will be the best tool to win customer satisfaction and repeated business. Good Luck!
Additional eBay Advice
- If you aren’t tech savvy, make long-term agreements with local repair technicians to fix any broken items like TVs, vacuums, microwaves and other items. You can also barter such services against merchandise—for instance, give the guy a TV for every 10 items he fixes for you.
- Offer merchandise instead of discounts wherever possible. You can use items you receive in large quantities that are slow moving as promotional tools to sell other goods you own. For example, you can do a “free lipstick with every $10 purchase” promotion. Or “Get a free T-shirt when you buy any 2 items over $5 each!”
- Spend time researching items prior to pricing them in order to make sure you are not significantly over or underpricing items.
- Maximize your sales channels. If you are only planning to sell at one venue, keep your options open. Whatever does not sell using that method could very well sell using another method. If you sell items on eBay and at a flea market, you can cherry pick the higher value items and sell them for a bigger profit on eBay, and sell the lower-value items at the flea market to maximize your returns on each item.
- If you operate a discount outlet or a flea market stand, you can always use eBay and other online selling sites as additional revenue makers to resell your merchandise and generate new customers who might otherwise not have known about you.
- If you’re overstocked on product, consider selling it as one take-all lot on eBay Wholesale, consigning them to a consignment shop or selling them to a Daily Deal site. Many Daily Deal sites look for larger quantities of similar product to use in their daily email promotions. In some cases they pay you for the goods after they sell, and in orders they take them off your hands up-front. Such companies include No More Rack, Groupon Goods and Daily
- Value your customers and your reputation. Remember– very few people get rich overnight! It takes dedication, consistency, creativity and a long-term approach to the way you do business.
- If you sell higher value electronic items, for example, you should consider purchasing warranties from third party companies and selling them on to your customers or providing them free of charge as a service. Since liquidation products typically come without warranties, this addition to your product offerings can be very enticing to your customers. A high-demand product at a low price, WITH added warranty? Yes please!
- If you have the money and space, take advantage of purchasing off-season goods at a great price. Winter clothing, for example, can be much cheaper during the summer than it is during the winter. Purchase items during their cheap, off-season, and sit on them for a few months. You’ll then be able to sell them at a higher profit margin once the season comes back around.
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