10 Steps for Successful Selling on EBay
So you want to be a successful seller with your own eBay business, do you? Here’s a simple, ten-step path to eBay enlightenment.
1. Do your market research You have to do research on the availability of the products, the demand for it.If you buy this product from the other vendor, will there be a good profit margin when you sell it?When you collect data like this, you can use it for other purposes later on.
2. Analyse your competitors. Now you have decided on the product; you have to search for the competitors and find out, how they are selling these products, how they are advertising, the pricing structure. Then how you are going to stand out among these competitors to make the profit.
3: Find a product: Get hold of a supplier for whatever it is you want to sell, and see what the best rates you can get are – don’t be afraid to ring round quite a few to get the best deal. If the eBay prices you’ve seen are higher than the supplier’s, then you’re set.
4. Move slowly Before deciding and depending entirely on the belief that this product, you need to have the test run. Therefore, you should spend an enormous amount of money and a lot of stock. Remember that it’s very cheap to try out even the craziest ideas on eBay, and who knows, they might just work!
5: Test and repeat. Keep trying different strategies until you find something that works, and then don’t be ashamed to keep doing it, again and again. The chances are that you’ve just found a good niche.
6: Work out a business plan: A business plan doesn’t need to be anything formal, just a few pages that outline the market opportunity you’ve spotted, your strategy, strengths and weaknesses of the plan and a brief budget. It is more for you than it is for anyone else.
7: Invest and expand: This is the time to throw money at the problem. Buy inventory, and start spending more time on your business. Set a goal number of sales each week, increasing it each time.
8: Make it official: Once you’ve made a few thousand dollars worth of sales, you should register yourself as a business. Don’t worry, and it’s not expensive or hard to do – a lawyer is the best person to help you through the process.
9: Automate: You’ll probably find that you’re writing the same things again and again in emails or item descriptions. It is the time to give up on the manual method and turn to automated software that can create listings for you, and respond to completed auctions and payments with whatever message you provide.
10: Never give up: Even when it looks like it’s all going wrong, don’t stop trying until you succeed. If you keep working at it, then you’ll almost always find that you make a real breakthrough just when things are starting to look desperate.
Once you get into the swing of things, you might start thinking that you should quit your job and take up eBay selling part time. But it’s not always as easy as that – there are all sorts of factors that you need to consider.
How will you write the E Bay Product Description.
Once you’ve drawn the buyers in with your title, the next thing to do is to tell them all about your item with the description. But just what should you write in your story?
At its heart, your item description is an ad. Without making it too obvious, you should be writing sales copy. You’re trying to get buyers excited about your products, and that’s usually hard – but on eBay, if you have the right thing to sell and give enough details, the buyers almost excite themselves.
Include every technical detail you know, including the item’s manufacturer, its condition, how big it is, where and when it made, its history, and anything else special about it. Don’t be too annoying, though: the best descriptions are written in friendly, conversational language, and show a real knowledge of the item. Whatever you do, make sure you tell the truth!
Remember that most of the people who’ll be buying your item will be just as knowledgeable about it as you are, if not more – this is their hobby, and they’re experts. Don’t feel like you need to explain the basics of the item: just go into as much technical detail as you can. As a rule, don’t write anything in the description if you don’t know what it means, as the chances are someone will, and if you’ve got it slightly wrong, then you’ll look like don’t know what you’re talking.
You might find that you enjoy writing a few things about how got the item, why selling it, and who you think might like it. It isn’t strictly necessary, but it gives your auctions some character and a personal touch, and can make people more likely to trust you. People might wonder what you’re doing selling 500 CDs all at once, and if you tell them the reason, then they’ll feel reassured that nothing dodgy is going on. If you’re selling them because you’re having a baby and you need the space, just say so.
Write as Much as You Can.
Leave nothing out of your description, even if that seems to you like it makes it cumbersomely long. There is no way you can be too thorough: someone somewhere will appreciate that you took the time to write the extra information.
Don’t assume that anyone who wants additional information will email you to ask a question: many buyers are shy and won’t do it. Think of questions that buyers might have and add the answers to your description, as people tend to ask the same issues over and over again.
Each time a customer does email you with a question, you should both answer their question and update your description so that it will include the answer next time. If people ask questions that replied in the report, try putting these parts of the auction on a line alone, or in bold, to make them easier to notice.