Making More Money On eBay Than Everyone Else
Monday, April 26th, 2010Where do I get profitable products? That’s the big question when selling on eBay, and it might seem like the hardest question to answer. Maybe you’ve been frustrated when you have found products from a ‘drop shipper’ and found that the items sell on eBay for less than the ‘wholesale price’ that you could buy them for.
It’s not the best business model to sell stuff for less than you pay for it, unless you absolutely positively know that you are going to be able to get more business from that customer to offset your losses. But that’s pretty advanced stuff if you’re just getting started selling on eBay, and in no way should you tell everyone that I gave you a reason to sell items for less than you pay for them.
Make sure that you don’t fall into the ‘drop shipping’ trap. I’ve wasted hours hoping to find a good product in a drop-shippers’ catalog without success. Yes, they have products that you can sell on eBay, but the key (as we just said) is selling them profitably. Most drop shippers just aren’t profitable for you an eBay seller.
The real way to make money on eBay is to analyze what the big sellers are doing. How are they profitably moving inventory? You’ll soon discover that selling eBay is very different than selling on most sites. Yes, people are looking for a great deal, but there’s more you need to consider.
Let’s say you are looking for something specific. You go on eBay and look around for the best price. Yet, that seller looks untrustworthy. You’ll probably buy from another seller, even if the price is a bit higher because of the “trust” factor.
Some people think that if they are the cheapest price on eBay, that will guarantee them maximum sales. While that might be true in the short-term, chances are that their profit margins will be so small that they won’t be in business for long. Remember that you’re in business to provide an experience for your customer. This includes a great product at a good price. Also, it means that you make a reasonable profit.
So how do you enter a competitive market and earn peoples business when it seems that everyone just wants the lowest price?
There are a few different ways. One of them is to make sure that your listing stands out from the crowd on more things than just price. Draw your customer’s eyes away from the price tag by taking amazing pictures. Make sure that you have the most relevant keywords in your listing title to maximize your listing traffic. However you can, get people to click on your listing. Once you do that, you’ll have a better chance of selling to that customer.
Once they land on your listing, yes your feedback has much to do with trust, but also the professionalism of your listing. You need to position yourself in a way that shows you are a trustworthy quality seller who is dedicated to providing the best customer experience.
How do you do this? Have a nice looking listing template, professional and clear policies, original pictures of your item, and a clear description that isn’t just jargon ripped off of the manufacturers website.
If you’ve bought on eBay, maybe you can remember the feeling of wondering whether the seller is legitimate or not. The gut feeling of whether you could trust them with your money. You don’t want other buyers having doubts when they come to your eBay listing. While some people are always skeptical and won’t trust anyone, most people understand what a reputable seller looks like. The bottom line is that buyers do business with someone that they trust.
The first-impression carries the most weight. If you can set yourself apart from the crowd from the first time that people see you, then you’ll have a competitive edge to selling on eBay.
Jesse Holmes is the designer of the free eBay 101 Start Up Kit. In this step by step video kit he will show you exactly how to sell on eBay quickly and easily! Get your exclusive free copy while supplies last.
