When it comes to earning a living online, those who have discovered eBay are among the most successful. With no monthly rent, utilities and other expenses that are often associated with a physical storefront, eBay offers entrepreneurs a way to reach millions of buyers with very little overhead. Below are five ways to maximize your online presence, along with your profits.
Know your market. Before you begin any business venture, do your homework. Research products, compare recent selling prices and assess your competition. You will often find that the most successful businesses, both online and otherwise, are those that offer unique products at a reasonable price.
Start low. By starting your auction at a low opening bid, you may attract the attention of more bidders. The reason is because everyone loves a bargain, and they stand a better chance of getting one with a low starting price. The idea is to get as much involvement in your auction as possible and hope for a last-minute bidding bout between those whose interest you have snagged.
Think like a buyer. If you were looking for a specific item, what phrase would you type into a search box? This is important to think about because, as a seller, you will want your product to be found if a buyer is searching for it. If you are selling a genuine diamond ring, for instance, make sure that you include the metal, such as 10kt, 14kt or 18kt in the title, along with the size. Buyers not only look for a product, but they also often search for the size they need. This applies to bedding, apparel, jewelry and other wearables. When you think like a buyer, you will be more likely to attract the same.
Be flexible. The more options you offer, the better your chances of attracting customers. For instance, you may choose to offer standard shipping, but what about a buyer who is shopping for a last-minute gift and needs their purchase in a hurry? It will be beneficial for you, as a seller, to provide a choice of shipping options to accommodate the need of your buyers. Be sure to note your offerings in the auction description for added attention.
Define your terms. As an eBay seller, you will need to provide clear payment instructions and shipping times. Buyers will appreciate knowing which forms of payment that you accept, along with those that you refuse. For instance, some sellers prefer not to accept personal checks. This may limit the number of buyers, especially those that do not have a credit card or PayPal account. A fair compromise may be the acceptance of personal checks, but making sure to hold them until your bank confirms that they have cleared. If this is your preference, note the holding time in your auction listing for all personal checks. If you ship every day, several times each week or only on weekends, let your buyers know. This will eliminate any misunderstandings about delivery time.
With these ideas in mind, building a presence online takes some time, a few happy customers and some favorable ratings. As a seller, it's a combination of the product and service that will keep buyers coming back for more.
Written by Mark Kenny. Join http://www.AuctionCUT.com - the online auctions and ebay forum. Come and discuss your eBay or online auction goals, with Mark and other members. AuctionCUT offers adrevenue sharing for members and an exclusive dropshipping report.