Mar 03 2008
19 Secret Strategies of eBay Powersellers, Part 4
19 Secret Strategies of eBay Powersellers, Part 4
19 SUCCESS STRATEGIES OF EBAY POWERSELLERS, PART 4
by Ed Brancheau
As if you haven’t already heard, millions upon millions of people of people buy and sell on eBay every single day. Some only make a few sales here and there. Others have figured out what it takes to become “Powersellers.” Powersellers are the very small minority of eBay sellers that do at least $2,000 per month in sales on eBay and maintain a 99% positive feedback rating. Powersellers are the ones that really know what they’re doing and if you really want to be successful on eBay then follow the secrets they revealed to me.
So, what are the secrets, tips and tricks that will cause you to become a Powerseller as well?
Well, I’ll be completely honest with you… I may be well on my way but I’m not a Powerseller yet. However, one thing that I know from creating several successful businesses is that if you want to become the best at something, you need to copy those that are already successful, ask them to mentor you and ask questions and take notes. And now I am going to take what they taught me and pass it on to you.
This is part four of a four part article series. You will find links to the other parts of this article series at the end of this article.
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SECRET STRATEGY #16 - OFFER DISCOUNTS
Every single Powerseller that I interviewed offers some type of discount. It could be something like buy one and receive a second at 50% off. Or it could be that you offer free shipping on another purchase. Just make sure that you offer some type of discount and also keep in mind that “free” always works much better than anything else. For example, rather than say “Buy two and receive 50% off” say “Buy one get one free”. “Free” is a trigger word that really hooks people.
Furthermore, I have found that for most items, that offering free shipping can actually make you more money than if you didn’t. For example, a few years back, I wanted to find out if this was actually true. I had two whole rows at a concert and for the front row, I had people pay for the actual shipping costs which was like $9 to send them via FedEx 2-day delivery. A set of two tickets sold for about $400. The row in the back had free shipping and they sold for about $490 a set.
I made $81 more by offering free shipping. And it had to be the shipping because everything else about the auction was the same. In fact the better tickets made me less money. Now, I am sure that there are some exceptions to this rule (like maybe you are selling bulk items for $.01 and really making your profit off the handling) but I can’t really think of many examples. In fact the only exception that I can think of is international shipping.
But my point is that “FREE Shipping” works because it is very noticeable on search pages. Remember that the word “free” is a trigger word that catches people’s attention. The only other words that catch people’s attention like “free” is “you” and “sex”. Hey, I’m scared to think of what might happen if you put all these words in the same sentence!
Finally, with regards to the word “free”, always include it in your title IN ALL CAPS by simply adding “FREE bonus”. And then give your customers something for free. You can tell them what it is or not but always be sure to put a dollar value on it. For example, when I sell my information products, my bonus is a subscription to my email newsletter which I always give away for free but I put a value on it of $9.95 per month because I really believe that it’s worth that much since I know that I always over deliver. So I always tell my buyers that they are going to get a “bonus worth almost $120 per year!”
But here’s the key: it’s doesn’t really matter what the bonus is… all you are trying to do is get eBay users to click on your auction because you can’t start selling your product to them until the open the listing! Remember this every time you create a new listing. Your first objective is to get them to click on the auction listing. Think of it this way, you can’t sell to someone unless you get them in the store!
SECRET STRATEGY #17 - KEEP YOUR EYES OPEN FOR GREAT DEALS!
Every single Powerseller that I spoke with told me several stories about one little deal or something that they found for free that made them a ton of money. One of them told me about how he goes to swap meets and watches the buyers all day looking for one item that a bunch of them seem to be buying. He then buys one for himself and tracks down the manufacturer so that he can sell the product on eBay. This is an awesome idea because really what he is doing is market research by watching the buyers at the swap meet. In addition, this same Powerseller oftentimes buys a large quantity off a swap meet seller at a really low price right before the seller is about ready to leave for the weekend because would the seller rather make a little money or haul everything back?
Another Powerseller went to Africa for his honeymoon and while he was there he found some fabulous African headdresses. He struck up a deal with the maker and bought 500 of the headdresses at $2 a piece for $1,000 total. When he and his bride returned home, he sold the headdresses on eBay for about $75 a piece, made over $36,000 and got to write off his $10,000 honeymoon as a “business expense”! He did so well selling the headdresses that he decided to “take a business trip… tax deductible of course… back to Africa” and order 2000 more. Also, to share the wealth, he “gave the maker a raise” and paid $5 each without the maker even asking for it! I bet he was pretty happy. But here’s the really funny thing… he got such ecstatic reviews for his previous buyers that the headdresses became much more in demand that his average sale increased to over $125! With these headdresses, he has made over $270,000!
So, keep your eyes open and snatch up those great deals. On thing to remember, if you see a bunch of people buying something, then you can be sure that you will be able to find others that will buy. At the county fair? Ask the popular vendors if they would like you to sell their products on eBay and split the profit. See a great deal at Wal-Mart for some killer product? Buy a bunch of them and sell them to people that don’t live near a Wal-Mart or other discount store (and always list your items internationally because international buyers will often pay you more and even pay the shipping for certain items because many times that item is much more expensive in their country… even if it’s made there!) Basically, make offers that you can profit from everywhere you go. Sure, you’ll get dozens of “no’s” but one “yes” can make you thousands of dollars.
SECRET STRATEGY #18 - INVEST IN YOUR BUSINESS
Of course, you don’t want to waste money on your business but I constantly see people that don’t want to spend money on their business to make money. eBay, in particular, has some features that can make you more money when you use them and others that may not make a difference for your product.
For example, one of the biggest mistakes that sellers make on eBay is not spending $.35 to have the product’s photo show up in the gallery. This is the biggest listing mistake! Gallery photos draw considerably more clicks and bids and yet do a search for a specific product and you will see that about 1/3 don’t have gallery photos and always have lower highest bids. Without exception, all of my auctions have a gallery photo and are listed in bold as are just about every Powerseller listing.
And don’t be afraid to invest in your business by purchasing things like auction software, a digital camera (especially now that you can get them for under $100), a postage system (I use Stamps at http://www.a-to-z-web.com/links/stamps.html) or a web authoring program like DreamWeaver. Definitely be sure to invest in a high-speed Internet connection like the ones below because they will save you an incredible amount of time and frustration.
Comcast High Speed Internet Cable - http://www.a-to-z-web.com/links/comcast.html
Earthlink High Speed Internet DSL — http://www.a-to-z-web.com/links/earthlink.html
Qwest High Speed Internet DSL — http://www.a-to-z-web.com/links/qwest.html
Verizon Online DSL — http://www.a-to-z-web.com/links/verizon.html
Time Warner High Speed Internet — http://www.a-to-z-web.com/links/tw.html
Or my personal choice:
Time Warner Digital Cable High Speed Internet — http://www.a-to-z-web.com/links/tw-dig.html
Just do some research and determine how it will make you more money before you buy anything.
SECRET STRATEGY #19 - ALWAYS BE LEARNING… ALWAYS BE UP TO DATE
As a personal coach, I recommend that people reinvest 10% of their income in their personal education so that they constant grow. And I suggest something similar for your business. Constantly read books about eBay and the Internet all of the time and you will grow year after year after year. Here are a few titles that I suggest to get started on eBay:
The Silent Sales Machine Hiding on eBay by Jim Cockrum
http://www.a-to-z-web.com/links/silent-sales.html
eBay Cash Machine by Sebastian Foss
http://www.a-to-z-web.com/links/ebay-cash.html
What to Sell on eBay and Where to Get It by Chris Malta
http://www.a-to-z-web.com/links/what-to-sell.html
eBay Powerseller Secrets: Insider Tips from eBay’s Most Successful Sellers by Debra & Peter Schepp
http://www.a-to-z-web.com/links/powerseller-secrets.html
eBay Timesaving Techniques for Dummies by Marsha Collier
http://www.a-to-z-web.com/links/ebay-timesaving.html
In addition to these titles above, the is one other great resource: EBAY!
Check out the following eBay pages:
Learning Center — http://www.a-to-z-web.com/links/ebay-learning.html
eBay University — http://www.a-to-z-web.com/links/ebay-university.html
Security & Resolution Center — http://www.a-to-z-web.com/links/ebay-security.html
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Well, that’s it! Armed with these secret eBay strategies, you too should be well on your way to making a very substantial income on eBay. However, should you wish to obtain even more information about how to make money on eBay and the rest of the Internet, please visit our eBay store for some fabulous informational products.
Unleash Life Success Coaching eBay Store
http://www.a-to-z-web.com/links/ulsc-ebay-store.html
And be sure to check out the extremely powerful A2Z Web Building & Internet Marketing Platinum Package. It’s over $1,500 worth of the best web building and Internet marketing books and programs in the world for less than $50. Check out our eBay rating and you will see that people love this package!
http://www.a-to-z-web.com/A2Z-platinum.html
Finally, if you missed any of the four parts of this article, you can read the other three at the following addresses:
http://www.a-to-z-web.com/ebays-secrets-1.html
http://www.a-to-z-web.com/ebays-secrets-2.html
http://www.a-to-z-web.com/ebays-secrets-3.html
http://www.a-to-z-web.com/ebays-secrets-4.html
Discover several extremely powerful web building and internet marketing packages that uncover all of the secrets to making money with eBay, Google AdSense, affiliate programs and much more! We offer a 180-day, no hassle, satisfaction guarantee!
Surpassing eBay s Success
The duplication of the success of a site like eBay is long yearned for by folks world wide. To duplicate such efforts takes much work beyond the time, skills, and finances of most people. Perhaps one can do better and surpass eBay s success in a different manner. To do so might be to incorporate a bunch of niche market e-Bay type sites, each on a particular subject. One might focus on art while another focuses on computer related items. This would attract people who were more targeted to those areas of interests. In addition, since the material was more unified on a particular subject then the engines like Yahoo and Google would tend to rank them higher. There s certainly time constraints to creating lots of niche market e-commerce sites. Setting the related specs for each niche market site takes time to plan. It would be great to push a button and create a site on any particular subject in little time as from a template. That way you could invest the time but not too much to see which niche market worked and which didn t. You could create a site on real estate, then one on house rentals, and another on cars with little effort. Skill and expense go hand in hand. For what skills you lack and are unable to do the work yourself, you need to invest in someone or something to do that work. Besides graphic design, each site would require database programming. I think that s out of the reach of many web folks to tackle themselves and quite a substantial expense for them. Besides if you don t know what such a database should have in it then it s quite a predicament to build it. To make it easier, you need some type of pre-built design for the database. This design would have typical database specifications for that niche market. For cars, for example, you have make, model, year, and mileage and so on. One site strives to combine e-commerce, graphic design, and database into one package,MemberDatabases.com (www.memberdatabases.com). Their aim is to remove the time, skill, and finance restraints. Once done, you have the freedom of mind to pursue what you want to. Dexter Coelho Tech writer and pro developer Emerald Designs Inc. (305) 931-2060
eBay Listing Tips
Believe it or not, the success or failure of your eBay Store comes right down to your listing practices. Listing your items for sale seems like tedious work, however you must take your time and do it correctly to maximize your sales potential. By using these strategies, you will be able to get a larger audience to your eBay Auctions and the potential to gain more sales and higher ending bids!
Consider multiple auctions for spelling variations - If you have multiple quantities of the same items for sale, consider having two or more listings with different spelling variations of the product in the title. For instance you could either be selling “tshirts” or “t-shirts”.
Include only keywords in your title - Never waste your space by including the words like “LOOK” or “WOW”. No one searches for those terms and you are just using up space instead of your valuable search phrases. Make sure you keep your title using the major searchable keyword phrases only.
Include keywords in your description - A lot of people search by description too so make sure you repeat your keyword phrases in your description as well. However make it easily readable and not just a bunch of random words lumped together.
Include lots of details in your description - People want to know exactly what it is you have for sale. Include “too much” information just to be sure, otherwise you could lose a potential bid! Even things like dimensions, wattage, color, and details like that are very important! Don’t make the seller chase you down by having to ask a question, it’s very frustrating to them.
Learn to use HTML or an HTML editor - Listers who lump all of their text into one paragraph sell 30% less than people who break their paragraphs up and make it more readable. Also avoid using all capital letters and just make it all around easy on the eye.
Talk to your potential bidders as a friend - These people are bidding on an item from a total stranger. Don’t talk to them with “business talk” in the description, talk as if you were chatting with a friend. It builds up trust.
Add color and graphics - Don’t go overboard with too many things that takes the listing too long to load, but adding some color and graphics will enhance the listing and make it more appealing.
By using these very simple techniques, you will have a better eBay Auction. You will get more bids, thus driving your sales higher and you will have a higher chance of success in your eBay Auction Business!
Jennifer Clason is the site owner and operator of MommyJobs.com. She has been running a full-time home-based Internet business for 7+ years now and owns more than 10 different Internet Sales websites. Copyright Jennifer Clason 2006.
