Making Money with an eBay Business is Not Impossible… If You Know How to Focus
Starting an eBay business is very easy. All you’ll probably need to do is register with eBay and then after that, you’re ready to go and start selling. Being successful with an eBay business, however, is an entirely different story. Just picture eBay as a very large market place. On the positive side, it gives you a lot of potential buyers. On the negative side, however, it offers your product a lot of competition.
But making money with an eBay business is not impossible. This has been proven by those who, like you, started small but are now eBay PowerSellers. Just like other eBay traders, they started with the same selling opportunities. But because they know how to make money on eBay, they became very successful.
So what are the secrets of all these PowerSellers? Many of them really don’t have one particular selling secret. In fact, many of them follow different business strategies. All of them, however, agree on certain aspects—aspects that I think are worth sharing.
As a beginner, it is ideal that you start selling a product that you are familiar with; something that you are fairly knowledgeable of. This allows you to price the product correctly and more competitively. This also saves you from a lot of trouble whenever a bidder asks details about your product. With the proper knowledge about your product, you will be able to answer all the queries of your possible buyers.
To get your product listed on eBay, you’ll have to fill up an online form which includes, among others, a text box where you can give details about the product. Now, some sellers would simply ignore this box and give out a few boring details about their products. PowerSellers, however, would tell us to give the product detail much attention.
When writing down the details about your product, make it as complete as possible. A visitor on your product page may be interested in your product, but if he can’t find any details about it (its condition, additional parts that goes with the purchase, etc.), he may end up bidding on the product of your competitor. Making the description complete also saves you from a lot of queries from bidders interested in your product.
Also add some creativity to your product description. If possible, make your description enticing, as if it is an ad for your product.
As important as your product’s description is its picture. Your bidders need to know that they will be bidding on something tangible and your best proof of that is its picture. An actual picture of your product will give potential buyers an idea of what they will be getting, and an attractively taken one can further fuel their desire for your product. So early on your eBay selling adventures, it may be worthwhile to invest on a digital camera.
The Starting Price
A very high starting price won’t attract a bidder, no matter how attractive your product is. So if you want to attract a lot of bidders to your product, you should have a starting price that is relatively low. A $1 starting price would work most of the time. But if your product is too expensive and you can’t afford risking it for a dollar, then set a price that is much lower than the actual price of your product.
Tracking Your Product
In any online auction, it is important that you track the performance of your product. If your product page is not getting enough visitors, or if there are very few bids on your product, then there must be something wrong, although not necessarily on your product but on your marketing strategy.
If your product page is not getting enough hits, it maybe because you’ve listed your product on the wrong category. But if your product page gets a lot of visitors and yet nobody is bidding, then there must be something wrong with your product’s picture or your description of it. Try making your description more creative or try taking a much clearer picture of your product, if such is the case.
Payment and Shipping
Online transactions are always risky so whenever making transactions, try to make it as safe as possible for you and your buyer. For secure payments, using PayPal’s services is much recommended. In fact, many eBay buyers would prefer paying through PayPal than through other means.
Also be knowledgeable of the process on how your products would be shipped, unless you really want to disappoint your buyer and get a negative remark in return. Along with that, also make sure that shipping costs won’t hurt your sales so much. After all, you’re selling your product on eBay because you want profits.
Customer satisfaction is the last on my list but it should be first on yours as it is in any other type of business. Make sure that your buyers would get what they paid for on the time that has been agreed upon. Again, you don’t want to disappoint your buyers, unless you want a negative feedback.
If your buyers have any complaint about your product, make sure that you resolve his complaint at once. You don’t want such complaints to reach eBay because again, such complaints may hamper your dream of becoming a PowerSeller.
Starting with an eBay business is easy. If you focus on the points mentioned in this article, being successful with that eBay business should also be easy.