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Learn The Power-Selling
Secrets!
Start Selling On EBay Today! Here are some "Tips" and "Tools" for you to use to get started making money selling on Ebay today. Caution: Always remember. What sells today for a great price may be worthless tomorrow. The consumer market is fickle and consumers have a very short attention span. Today's trash is tomorrow's treasure, and today's treasure may get you a dime, if your lucky, tomorrow. Tip #1 - Selling HOT!! The key ingredient to finding something "HOT to Sell" is RESEARCH! And you need to learn how to Identify DEMAND. There are certain items that are "hot:" for a while, the "flavor of the month" items that are selling cheap and selling fast, such as the laser pointers, and alot of "As Seen on TV type items", and then there are those that always sell for a good price, which you can identify by studying the categories and making yourself a "Hot List" of items you can sell at auction. Learn what is "hot", what price it is bringing and how to maximize your profits. Research in advance saves you time and money. Browse the Featured items Category and look for the little "torch" beside the item listing. This symbol represents a bid of 30 or more giving you notice of a HOT ITEM instantly. When you see that torch, do a search for closed auctions to see how often that item has been sold and what price it usually sells for. Then you will know whether it is something you should consider selling. The best place to start is your own home. Clean out your closets, basement, attic, garage, and sell all the extra clutter/treasures everyone has hiding in the nooks and crannies of their home. Try anything and everything, old magazines, dishes, toys, knick knacks, clothes, and it will cost you nothing out of pocket for inventory to start, and your home will be a lot cleaner. HINT: Don't purchase any inventory unless you know you can get your money back selling it! Tip # 2 - Auction Listing and Title! The title is the MOST IMPORTANT part of your listing. It's what the customer sees first. It's what makes them decide to click or not click to read your listing, and it's what will make them able to find your listing when they search for something. Make sure you use "KEYWORDS" such as product and model or designer, size, style and color. DO NOT use fancy ***** or LOOK or other not essential wording. You only have 45 characters so "Use" this space wisely. HINT: Do try to compensate if you can for bad spellers, who may spell the item wrong in their search, if you can do that you may pull in those that others will miss because they spelled the words right. Be careful with this, you dont want to be accused of "keyword spamming". HINT: If you use underscore "_" and tilde "~" between words in your title you will have more character spaces to use. Try it! HINT: Spell Check your listing - COMPLETELY! EXTRA - Choose your Category Wisely. Shoppers shop in one of 3 ways - by keyword, browsing, and by CATEGORY! List your item in the best category possible. A general listing category will get you less money for your item and make it difficult to find! Tip # 3 - Honesty is the Best Policy! Know your item and describe it accurately. Always be honest with your items and with your customers. Tell them the flaws. If you make a mistake then own up to it, correct it and move on. You will always be forgiven and be rewarded with positive feedback. Tip # 4 - Easy Payment Options! Different buyers have different needs and different situations, they want to be able to pay in a variety of ways so be FLEXIBLE! It will make purchasing from you easier for the buyer and you will receive your payment fast and hassle free! Offer the following payment options: Pay Pal is the Number 1 choice for EBay sellers - PayPal has numerous options, but basically it enables people with credit cards to pay you without you having to have a merchant credit card account. Sellers who opt to accept PayPal can quickly put a PayPal logo on their auction description with a link that makes it very easy to pay right away once you have "won" an auction. Now many goods bought at auction are paid for immediately online this way, and the goods can be shipped that same day or the next (if the seller is efficient), making the whole experience much more satisfying and profitable. Some people don't like or can't use Paypal, so you should also accept: Personal Checks - Make sure you hold for 10 days Postal Money Orders - You can cash these at the Post Office Concealed Cash - Risky for the Buyer Or other online payment choices, such as C2it or BidPay. Merchant Accounts - Some people, if they sell a great deal, or sell off of Ebay also, will get their own merchant account, so they can accept credit cards directly. If you accept PayPal then you can do without this extra expense, unless you are a Power Seller and you make selling on Ebay your full-time career, in which case adding a merchant account could get you extra sales from people who won't use Paypal, for whatever reason, but want to be able to pay with a credit card. Again, this can be expensive, and is only worth it if you have a high volume of sales. EXTRA - Watch your Profit Margins Profit margins need to be healthy enough to justify time being spent doing the work. Only if you generate a decent return will you be albe to make a good living selling at on line auctions! Decide what you want your profit margin to be, and try to attain that profit margin each item. When you look over inventory, make sure you can get your money back, pay the fees and still make your profit margin. Tip # 5 - Cost and Fees! When you start selling your product you will encounter many fees. Fees pay for the right to sell at auction, use certain options and when you receive money other than cash or a money order! Common Cost and Fees Listing Fees or Insertion Fees= This is a non-refundable fee that will be charged to your account when you list your item. This fee varies by the type of listing you choose and the starting bid on your listing but will generally range between $0.30 and $3.30. Final Value Fees = The fee charges when your item sells. This fee is only charged if the listing closes successfully — that is, if there is a winning bidder declared — and it is generally a small percentage of the final value of the item. Pay Pal Fees and/or Credit Card Fees = These fee are charged for receiving money. when you complete a transaction and use an elexctronic means of receiving this money the company charges you a fee based on the amount of the transaction and generally are 30 cents per transaction PLUS 2.9%. Additional Option Fee and/or Other Fees = These fees are charged when you choose one or more of the optional seller features, such as having your listing appear as a featured listing on eBay's homepage. Tip # 6 - Price Starting Bids Start your auctions off with a low bid. This will help you create traffic to your listing and encourage opening bids. People are looking for "bargains" and will pay "actual value" only when you have competition. But REMEMBER that this is a contract and you will be required to sell your item to the highest bidder! DO NOT start too high - you will kill the spirit of an auction. If you need a certain price set a reserve. This way you are only under contract to sell your item for any amount above the reserve. Use only when necessary. The fee is up to $2.00 EXTRA - eBay allows you to set a fixed price and sell items as soon as someone is willing to match that price with "BUY IT NOW"! Tip # 7 - Shipping and Handling! Choose your shipping method! UPSP, FedX, UPS or Airborne. Pick what is best for you and add this to all your auction listings. Quote "FIXED PRICE" shipping and handling. Make sure you always charge exact shipping and then add no more than a reasonable handling fee that is based on your listing fees, supplies, time and gas. This should be no more than $3.00. And remember to combine shipping and give the approiate discount! You can also charge actual shipping charges, but then you will want to figure in the cost of shipping materials, fees, and time, etc, to the price of your item. Either way, you need to be sure to be compensated for these fees, or you will eat up your profits. International Shipping can ship by Airmail Letter Post (even tho it is a pkg. and not a letter per se) as long as the package is under 4#s and takes usually 4-7 days delivery time. Tip # 8 - Use Delivery Confirmation!! All items selling for $20.00 or more should include delivery confirmation as standard shipping policy. Include this extra charge in your "handling fee". Tip # 9 - Describe Your Item!! Write your description in a simple, clear manner. Research the item, if you're not sure of its origins, etc, if need be. Try to answer questions a buyer may have to limit the amount of communication between you and potential bidders. Be honest with your description and avoid words that try to inflate the items price. The more information you can give the better your chances at commanding a higher price. HINT: People want to see a quick description, pictures and then the price. Tip # 10 - Photos Say It All!! Adding pictures is a MUST. People like to see what they are bidding on. Like when browsing through a catalog, they want to see the item, so they can visualize it. Take several photos of your item and include all flaws. Photos give your auction crediblity. Use a picture hosting company, or if you have your own domain or website elsewhere, store your pictures there, instead of eBay's. This will save you money and time. Tip # 11 - Gallery Pictures and Buy It Now!! These are the only 2 added features I can highly recommend. The gallery cost 25 cents and the buy it now cost 5 cents. I have found that all other features are just not worth the money unless your profit margin is high and your item is a high dollar item. Also remember that "fees" do add up at the end of the month! Tip # 12 - Use Page Counters!! These are free and abundant on the internet. Use these to gather information about time of day hits, how many hits, etc. Tip # 13 - Set A Listing Schedule!! Determine the best times for your auctions to start and end. Remember the different time zones. The first 12 hours and the last 12 hours are the best viewing times so set your start and end times accordingly. Primetime is the best time to start and end no matter what day of the week. Always remember that people get off work at 5 so starting and ending 2 hours later will give you an added edge! 5 and 7 day auctions are the best as long as 5 day auctions include a full weekend. 3 days are just too short. If you choose 10 day auctions remember the added fee of 10 cents and always include 2 full weekends! Remeber that EBay takes 2-3 hours to post your item so set your schedule accordingly. Tip # 14 - Create Your About Me Page!! Create your EBay page ASAP! Utilitize this FREE space to your advantage. Include items such as shipping information, contact information, sales messages, marketing page and more. This can be a major tool in directing potential buyers to your acution listings. Keep your eBay About Me page looking professional because of the impression your business gives to buyers and potential buyers. Remember that your listings change but your ABout Me page is always there! Tip #15 - Advertise Your Auctions! Listing your auctions with an on line auction site is the best place to find customers. On line auction sites attract a huge volume of targeted customers who are actively searching for the products or services they want. So by listing at an on line auction site you will take advantage of their traffic and the "TARGETED" buyers by listing a great product at a great price. But you can't stop with that. there are other FREE ways to attract traffic to your auctions. Use signatures! These are 4 to 6 lines at the end of your email message or discussion board post. Use these to promote your listings or website. This is free and effective advertising for you! Keep lists of those that buy from you. Send an email asking if they would like being added to your "mailing list". Then send out a regualr mailing to your private list at elast once every 2 weeks alerting them to your current auctions, key news reports or other useful information. Post your "About Me" Page to all newsgroups, search engines, message boards, classified ads or anywhere that is appropriate. Tip # 16 - Have a Sales Policy!! A good policy will avoid trouble. Buyers do not read very well so keep your policy short. Include your paying terms, shipping information and return policy. If your item is bought "as is" then state this. Be sure it is displayed prominently in your auctions and on your About Me Page, so if there are any problems, you can refer your buyer to it. Be reasonable, but be firm with your established policy. Tip # 17 - Stay In Contact!! Check your email at least 3 times a day and answer all inquiries. These are potential buyers and you want to stay on top in fast replies! Email Time Lines End of Auction EMail - Give buyer all information needed to complete sale. Send as soon after auction close as possible. Reminder Notice - Send a 3 day reminder to pay Non Paying Bidder - Send a NPB notice if you have not heard from buyer within 7-10 days of auction end Acknowledge Payment - Send a notice when payment received and say "Thank You"! Confirm Shipping - Send a notice when you have shipped the item, include the shipping confirmation and ask for feedback on receipt of item NOTE: If you have a non paying bidder and you have sent the NPB notice out, wait 10 days and if you have not received the funds then file for your Final Value Fess and leave negative feedback. Tip # 18 - Ending Auctions Early!! I recommend that you DO NOT end your auctions early. You will miss out on the ending today and going, going, gone categories that buyers browse heavily. Tip # 19 - OOPS! Nothing Happened!! Your auction failed - not bids, no hits, NOTHING! What happened? Relist the item and make changes! No hits means you need to change the title and category placement. No bids means the expectation was too high. Change the description and price. NOTE: Only list your item twice. If nothing happens then you need to rethink your item. Maybe the time is wrong or there is no desire for your item. Put it back 30-60 days and try again. If nothing happens then just donate it to a local charity. Tip # 20 - Say Thank You!! At the end of the auction you will send a notice to the winning bidder. Make sure you include a simple "Thank You for bidding and winning my auction". Include your EBay user name, auction number and your contact information. Also ask for feedback upon receipt of item. You can also include a link to your auctions and remind them to bookmark your auctions. Tip # 21 - Offer Your Winner More Products! Add a line or 3 to every contact email with your buyer advertising something. It could be another like item, an information CD, an accessory or anything! Just use these email wisely to help make more profit. DO NOT SPAM!!! Tip # 22 - FEEDBACK! This is an important tool both for buyers and sellers. Make a habit of posting feedback once a week. Pick a day and stick to it. Feedback should never be left before the transaction is complete. For buyers, the transaction is not complete until the item is received and you, the customer, are satisfied. Once you are happy with your purchase, or you feel you can not work ou t the differences with the seller, leave honest feedback. For sellers, the transaction is not complete until the buyer informs you that they are happy. This is usually done with positive feedback being left for you. Once you know that your buyer is happy, leave honest feedback. If neutral or negative feedback if left before the transaction is complete then respond to this feedback and leave honest feedback. Once feedback if left it can not be changed unless you both agree. A negative feedback is not the end of the world, respond and move on! Finally, once you have both left feedback the transaction is complete. Tip # 23 - Keep Complete Records! This can be as simple or as complicated as you like. A simple way to do this is to print all end of auction emails and use that as your record. Note when you send emails, when you ship, cost of shipping for the item, and when you leave feedback at the end of the transaction. Then file away in the end of month file. Tip # 24 - Principals to Successful Auctions The secret to succeeding at any on line auction is perserverance to follow through no matter what the obstacles! 9 Simple Steps to Success:
STORE TIPS! Here are a few GREAT TIPS for running both stores and auctions at the same time. Do the following and don't deviate from it!! I have found that eBay store/auction sellers using this technique EXCLUSIVELY are out selling their competitors 50% or better. Simple Tips to "Store and Auction" Success List like or same type items in your auction with the same starting bid that you are asking for in your store. Then put a 'note' in your auctions as follows: "This item is also available "RIGHT NOW" in my store. Just click (have your store link here with proper item #) and buy it now." NEVER RUN Fixed Price or BIN auctions when you are selling both in store and at auction. Do NOT pay a BIN fee on auctions when you can just give them the link to buy it in your store and your store listing is only 5 cents + 1 cent for gallery. |