You Can Make More Money On eBay Than Everyone Else
December 9th, 2009 by Jesse HolmesWhere 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.
You won't be in business too long if you sell stuff for less than what you buy it for. You should always have a strategy to buy low and sell high, unless you have a plan to get more from a customer later to offset your initial losses. If you're a beginner, don't worry about that... just always sell items for more than what you buy them for.
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.
If you hopped on to eBay right now looking for a specific item, you would obviously research and try and find out where to get the best price. However, it gets to a point where you don't want to necessarily pay the lowest price because as the saying goes 'you get what you pay for'.
I know many people who think that if they are the cheapest price on eBay, they'll dominate the marketplace. They cut their prices until they are no longer in business. Remember that you're in business not just to give the best price, but the best overall buying experience (and to make a profit while you're at it).
So how do you avoid going out of business in a price-competitive marketplace? How do you compete?
There are a few different ways. It's a big step for a lot of people to purchase an item they've never held from a seller they've never seen before. In order to make people choose you over your competitors even if they have a lower price, you need to first draw in the customer to your listing. Many people search by the lowest price first, so you need to overcome that by drawing a person's eye away from that price tag and towards your killer gallery picture and ultra-relevant listing title. Once you can get that click you have a better chance of closing that buyer.
Once your customer makes the jump to your listing, they're going to decide whether they can trust you. Your feedback rating factors in here, but in addition to that is also the professionalism of your listing. You need to show that you're a quality seller that will provide 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.
Have you ever tried to buy something on eBay and wondered if the seller is legitimate? Have you wondered whether or not the seller would run away with your money? Now, step back into your shoes as a seller. You don't want any doubts in the mind of your buyers. Your buyers will be able to tell by how your listing looks whether you are a reputable seller or not. Buyers do business with sellers 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 an expert eBay Powerseller, author, speaker and consultant. He is willing to take you step by step and show you with his easy to follow , but only for a limited time. Go now for exclusive free access!
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