Expect Cost Increases
Sellers always seem to be caught unaware when eBay
or PayPal changes a policy or when they (dare I even
breathe the thought?) raise their fees. Like the changing
of the weather, increased fees, in some form or another,
should always be expected. Realize that it’s not because
eBay's a big bad company that wants to pilfer from
our pockets, but they're constantly attempting to improve
the site to make it the ultimate marketplace for online
shoppers, and they need to cover their costs.
UPS, FedEx and the U.S. Postal Service also tend to raise their fees each year, plan to add that cost to your shipping fees. Last year the Postal Service increased the flat rate and one-pound priority rate to $4.05, bringing the amount we charge buyers for small-item shipping close to $5. Next year, you may have to exceed the $5 price point.
Market With Charity Listings
eBay Giving Works (through MissionFish) has raised
more than $34 million for nonprofits to date. Many
sellers have found that by participating in this program
and contributing a portion of their sales to a charity,
they've increased their bids and final sale prices.
This marketing model makes a lot of sense based on
my customer service theory: By donating to a charity,
you build an image of being a caring business on eBay
rather than just another seller. Remember these facts:
- Listings stand out with a Giving Works ribbon icon.
- Your chosen nonprofit’s mission statement is on every listing that benefits them.
- Each donation is tax-deductible (MissionFish provides the receipt for you).
- The eBay fee credit policy rewards your generosity.
Increase Seller-Buyer Communication
If you’ve been listing items lately,
you might notice a new option on the sell-your-item
form: You have the opportunity to include a Skype link
in your listings. Skype is eBay’s web communication
arm. By using it, your buyers can either call you by
using a microphone and their computer speakers or open
a chat window to ask you questions. Although many sellers
feel that communication with customers is a bother,
by answering questions quickly, your sales will go
up. Again, here's the theme of increased customer satisfaction
in 2007.
Be a Savvy Merchandiser
I hear it all the time: “Oh woe is me! None of
my items are selling anymore. eBay has ruined the market," or “The
economy's down so no one's buying.” Yep, it's the American
way--blame everyone else for the downturn. Why not
look to yourself?
Just recently, I was looking for a cowboy-style Christmas stocking on the site, and I found close to 100 different listings for the very same item. The pricing wasn’t very different (but the shipping charges were), and the sellers were all clearly buying from the same source. Is this a vibrant marketplace? Did the sellers do their homework before buying this item to sell?
Before buying deep into an inventory item, do a little research. Check out the eBay site and see if the item is already listed. In a couple of days, check it again. Has the number of listings increased? Did anyone buy the item? Choose your items selectively. It’s a very competitive market.
Reconsider Collectibles
Many eBay sellers pooh-pooh the collectible arena
and have stopped selling these one-of-a-kind items.
But collectibles are the heart and soul of eBay--it's
the primary online marketplace where shoppers can look
to find a plethora of unique and vintage items. No
local antiques or collectibles store can possibly carry
the wide variety of items that buyers can find on eBay.
If you can find unique items, this is the place
to sell them.
Expand Business Overseas
Are you selling your products worldwide? You might
consider it if you knew that eBay has more than 212
million registered users across the globe. Considering
that there's a huge audience for Americana worldwide,
you can easily find desirable items to build your sales.
Visit outlet malls for current fashion, toys and home
décor items. Just think: If you’re a U.S. expatriate
living in Germany, the only way you’ll be able to buy
your favorite products at a reasonable price is from
an eBay seller. And foreign nationals also crave many
of the items we take for granted.
Sell (or at Least Link) From Your Own Website
Do you have enough time and know-how to start your
own e-commerce site? The most successful eBay sellers
sell merchandise from independent websites. Your business
can grow a good 30 to 40 percent by the simple addition
of a website.
If a full-blown e-commerce site seems too much for you just now, install an eBay editor kit on your free ISP page. When people click on your store items and follow through with a purchase, you'll get a 75 percent store referral discount on your final value fees for bringing a buyer to eBay. Learn more about the tools eBay offers to promote your listings here.
