Selling online is all the craze these days, be it dropshipping, selling through custom eCommerce store or online marketplaces like Amazon and eBay. A large number of Aussie sellers are already running successful online businesses and in this blog post we will cover up basics of selling on eBay as well as few strategies for achieving success while doing so.
eBay has very few barriers to entry, so most new sellers just jump on and start listing though having a strategy in place ensures success in building a durable income stream. To get started on eBay, follow these steps:
Above mentioned steps will get you started on eBay but actually finding success on eBay requires more than just adding listing.
While setting price for the item, sellers tends to give maximum weight to profit margins. Though a successful business needs good profit margin but setting prices too high will result in listing becoming stale and ending up without any sale. For a marketplace like eBay, competitive pricing is the key to success. While setting price of a product do research competitors prices and always take reference from what you yourself are willing to pay for the product.
Unlike physical store where a buyer can see and feel the product while assessing quality of product before deciding to buy, an online customer cannot check the product before hand so only option for her to assess the quality is through product photos. A professional, high quality photo will certainly sell better on eBay as compared to product have photos taken in poor lighting condition or which are not professionally looking. Few of points to remember are :
Auction style listings are generally used where a single or less quantity of items are to be sold. It has been traditionally used for selling used stuff and high value vintage items. Fixed price listing are generally used for new unpacked items. Business oriented sellers tend to use Fixed Price Listings. Customers can still submit offers on fixed price listings and it is up to seller to accept or decline the offers. For more info check out eBay listing formats.
For successful eBay business, a seller needs to have order-to-ship duration of 1-2 days, eBay tends to value the listings having this duration of less than 2 days. Also if shipment time is less and free shipping option is available than eBay displays “Fast-n-Free” tag with the listing. Remember:
Do not throw in towel if your listing do not sell within first couple of days. Remember for successful business, you need to go beyond simply submitting listings. Stay tuned for second part of this post with tips and strategies from power sellers.