e-bay is one of the best ways to make money online. Here, we will cover basics to make money on eBay like thousands across the world do. There is plenty to be made in the eBay trading community if you pitch it right.
Before we dig deep into how to do it you need to make sure you have the primary ingredients to make it work.
- eBay account
- Paypal account
Your brand is everything
Selling in eBay is just like selling in any place else and the same proven methodologies of good salesmanship applies here as well. Creating your brand right from the begging is a must. Start it with your eBay account user name. Create a user ID that is memorable and at the same time professional. Randy the dynamite simply won’t do. Next comes your product portfolio and service quality. Make sure they match and project the brand you are creating.
eBay fees are charged differently for each category that ranges from real state to mobile phones. Initial insertion fee will be charged to show your listing on eBay. This will be followed with the final value fee which will be charged from the selling price. There are few supplementary and extra services to be acquired depending on your needs. Insertions fees and other supplementary services charges can depend the nature of the selling item while the final value fee is 10% of the final sales value. Follow this link to find your charges fees.ebay.com/feeweb/feecalculator.
You need a Paypal account to handle transactions in eBay. Setting up this account would be fairly easy however make sure that you can receive money from Paypal as it can vary depending of your country’s regulations.
After you set up all the necessary arrangements with Paypal and eBay comes the next big question. What do you want to sell? If you are a manufacturer of products all the better and you would not need to spend time here. But if you wandering here and there to figure out what to sell, eBay provides you with an online tool to help you out. Follow the link to check it out http://pages.ebay.com/sellerinformation/what-to-sell-online/items-in-home/
Deciding an appropriate price for your product is critical in making considerable profits for your little enterprise. Higher price will chase away potential buyers while a price too low would be insufficient to cover your cost, eBay cost and shipping cost. Doing a little research on similar products and their bids on eBay would do a world of good in benchmarking an appropriate price.
How to market your product?
Photographs of your product are more important than your product description or any other detail in the listing. Your product photo would become the primary attraction to your potential buyers. Try to get high resolution and aesthetically sound photos covering every angle of the product. Next comes your product description which should be concise yet contain all the important facts and specifications. Be professional in writing it and please no grammar mistakes and silly sentences !!!
Best way to sell
There are two ways available on eBay to sell your product. One is auctioning style selling and the other is fixed price selling. Process of traditional auction is self-explanatory. At eBay you can set a time period from three days to ten days for an auction. Longer the time period more chances of getting your product sell at an advantageous price. Auctioning can be more interesting than selling at a fixed price but cannot be recommended to the light hearted and impatient. Fixed price schemes are ideal if you have a confident selling price for your product that can attract buyers. Further, fixed price schemes also come with an option of “Best Offer” where potential buyers can suggest a price that they think is reasonable. Accepting it or clinging to your original price is at your discretion.
Offering free shipping is the ideal method to attract more buyers to your product. However it may not be financially feasible at the beginning . eBay offers calculated shipping to your listings where projected shipping costs will be shown for your products based on its weight, dimensions and buyers zip code. eBay’s shipping calculator will provide a preview of shipping costs depending on your Zip code, preferred freight service provider(UPS,FedEx…etc) and package. Be clear on your shipping arrangements and try to find out what the similar sellers offer. In some instances shipping costs can be the critical factor in a buyer’s mind in choosing between two sellers.
After you sold your product
After you receive a winning bid or one of your products gets sold you need to get in touch with the buyers. You should send your invoice using My eBay and be sure to confirm the total price, tax (if applicable), accepted forms of payment, shipping cost, shipping method, expected delivery date and a tracking or Delivery Confirmation number.
Do not send the goods before receiving money.
Although buyers , at least the ones with good rating, are good in paying early you may need to wait until it is properly done to avoid losses. If there are buyers who are late to pay try to resolve the matter through communications. And if that fails try to file an unpaid case with eBay Resolution Centre.
Shipping and completing transaction
As soon as possible send the goods after your receive the payment. Your delivery of product will anchor your success at eBay so make sure to wrap the product properly to avoid any damages in shipping. Create a shipping label in eBay to enable buyer track the package as well as confirm its receipt.
How to grow your business?
Being a trustworthy seller and a good communicator is the best way to increase your business at eBay. Let good feedback flow into your profile while not forgetting to leave positive feedback on your top buyers. It will do a world of good to your buyer’s confidence and will increase your buyer retention rate. Try to resolve issues if there are any before they go out of hand and always think from the side of the customer. Your aim should be to become an eBay Power Seller which represents the elite 4% of the eBay trading community. Power sellers sell minimum of $1000 worth of products per month (other criteria also apply) and receive the best technical support and priority from eBay. And if you follow our guidelines it won’t be that hard to become a power seller at eBay. Here’s to your success at eBay………!!!