Published on 10th Sep, 2007 in Online Marketing
5 Steps to Doing Smart Business on eBay
The most obvious way to use eBay in your own business is to become a merchant and sell your products online. But what if you sell services? Well, then you can just use eBay to generate quick cash for the business by selling the things you no longer need or want. No matter what type of entrepreneur you are, you can still use eBay to generate quick cash.
1) Check out the Competition- Who else is selling what you have on eBay? If there are lots of sellers, you will have to make sure your product really stands out. For example, you want to sell a pair of baby shoes but there are already hundreds of sellers selling the same type of shoes. Now let’s say instead of selling baby shoes you sell "A Pair of Baby Shoes that Look Just like the Ones Shirley Temple Wore in Her First Movie." All of a sudden your shoes are more special. I am not encouraging you to lie or misrepresent your products by any means but words do make a difference. You can sell a red lipstick and label it a red lipstick or you can call it "The Scarlet O’Harra Red Lipstick." Ah, the power of advertising.
2) Look for Niche Markets- Never underestimate the power of a small group of people. Such "small groups of people" have made many ebay sellers into millionaires. There IS someone out there who wants to buy your collection of chipped Elvis mugs or your mother’s hand made tablecloths. Seek out for those niche markets.
3) Build up a Solid Reputation- In the online marketplace, everyone gets to see what your customers think. I personally find this is a fantastic thing and you can use it to your advantage. The higher your customer satisfaction, the more people will be willing to buy from you. Here is the simple formula to building up a strong reputation: Provide fair descriptions of your products, answer email queries in a timely manner, and only promise what you KNOW you can deliver.
4) Use Pictures- Yes, eBay charges you a few more cents for adding the picture but it is money well spent. Your product is a lot more likely to sell or get bid on when people can see it in the listings. Human beings are very visual creatures!
5) Keep it Simple and Clear– Keep your auction page simple and clear. Too many colors or "glitter" objects can take away from your main listing. On your auction page be sure to list out all your policies in a very clear and coherent manner. Not only will this reduce the number of email questions you get but it also safeguards you from being accused of misrepresenting yourself or your policies.