How To Make Money On eBay
For the past twenty years, we have been living in an era where online sale has become an option, but for the past ten, many found online selling to be their way of earning money without seeking any additional job.
By Pavel Kuharik
However, most people rely on selling online to be their secondary income.eBay is one such platform, long established back in the 90’s when the internet was limited, it has become somewhat of a symbol of making money along with Amazon. With these two largest platforms becoming the two giants that they are, shoulder to shoulder for decades, there are differences between when them when it comes to selling and purchasing.
“Anything that comes to your mind can be found on eBay whereas Amazon has a more strict item categorization.”
Why Use eBay
Unlike Amazon which is serves to sell retail or branded products, eBay is more like an auction used to sell new or used items to the third party. A lot of merchandise is marked as unbranded, especially clothes and various gadgets.
That still doesn’t discourage buyers to visit the website and make their purchases. Unbranded or not, one can ruin his reputation as each seller has a profile that can be reviewed by the customers. So, no matter what you intend to sell, it has to be usable and in working order, otherwise your reputation will not give you any new customers as their reviews are impossible to delete and making a new profile is tiresome and impossible under the same name.
The benefits of eBay is that the shipping can be free or very low cost, depending on what you’re selling as well as the fact that many more countries can send and receive shipments when buying on eBay. Some third world countries are also able to sell and purchase via eBay. When it comes to differences between Amazon and eBay, apart from retail/brand sale, vs branded/unbranded auction sale, we can say that both of them are pretty similar. One advantage that eBay has is the shear amount of items that you can find when browsing through.
Select the Perfect Products
With the introduction of e-commerce learning platforms, it is an excellent way to learn more on how to become a successful seller on eBay. There are plenty of guides out there, but the point of reading them is to educate yourself on how the online economy work and what it takes to become successful. Selecting the perfect products isn’t easy, but the internet is here to help in this regard.
The most important factor to take into consideration is researching the trends. So, if you can procure items that are in high demand then this is your opportunity. There are items on eBay that can disappear within a day. One thousand pieces of a single item can be sold in a matter of hours just because they are in demand.
Even the website itself lets you see the most popular categories, though the item variety within those categories is large, it can still be a good indicator to start from any item from at least one of those categories and see how your selling would fare.
Offer Great Prices
As a seller, you want to be sure you won’t be going without any successful sale for longer periods. Even as a beginner, it should be clear to you that whatever you can sell is more of an experience gain, rather than pure profit as you’re learning to move towards financial freedom.
There are two ways to sell items on eBay. You can set items on “buy now” type, which will be sold at a specific price, no more no less. The other way is to set an auction type of an item with bidding system. As a seller, you will be notified whenever an offer has been made to your item(s) and you can even use automated commands, such as automatically declining offers below your desired minimal offer requirement. Again, high emphasis here is on market and trend research. There is no need to go way below the average price for an item just to sell it, but keeping it within the price range of everyone else who are selling the same item, assuming they are. And why would you want to sell an item at a below average price. That won’t sit well even with the buyers. If a buyer knows what the price is, he will pay a dollar less or so, but slapping a quite low price ticket on an item will give the buyers a message that the item may not be reliable in terms of quality.
A tip for sellers: There are many folks out there who are sort of collectors. People tend to complete their collections of stamps, bottles, coins, action figures, and various other items for which you can do research, see what’s in demand. To complete their collections, people are ready to pay hundreds if not thousands of dollars. And who knows, maybe you have something that they need and it’s picking up dust in your attic while you’re totally unaware.
Climb the Ladder
Previously, we mentioned that your seller profile will be viewed as an indicator of trust and reliability. Once you’ve found the items that you want to sell, succeeding in doing so will require an extra effort to keep up with the competition and retain your reputation. The first thing you want to do is get the title of “top seller” , which will appear after you’ve successfully sold at least a thousand dollar worth of merchandise. But in order to sell that amount, you will need to keep up your end of the promise.
You need to ship the item on time and make sure it includes everything that the customer bought. If the item is in a package, make sure to protect it (especially if the item is something fragile) well against any fall or accident that may damage the item. If a customer paid for the item shown in the pictures, that item should be the exact thing when the order arrives to customer’s address.
The success of being a good seller comes from your customers and their reviews and recommendations to all others. Keep your promises.
Make a Perfect Seller Profile
Apart from getting positive reviews from your customers, there are other things that depend on you alone to establish a perfect profile. You need to present your profile to your buyers as a place that they can enjoy browsing and buying. Add pictures to all your merchandise and make sure the photos are a high quality.
Customers love to know whom they are dealing with and as such it would be good to fill out all information on your profile to give the customers an idea on who you and your store are. Also, one more important aspect of keeping your profile user friendly is feedback. You need to be ready to talk to your customers.
They will ask questions, send public comments on your profile and if some them are criticizing you as a seller, make sure to correct the outlined issues you were criticized for. If you are too busy with selling, packaging, and sending the merchandise, hire someone to deal with the customers. What is important is to reply to customers’ messages on time and do not keep them waiting.
Include Free Shipping
It is really interesting how our minds work when buying something online. We tend to buy items at the recommended price or even a higher price, as long as the shipping is free.
Customers on eBay are mostly opting for free shipping. If you are unable to provide free shipping, simply increase the price to cover your shipping costs and tag your merchandise as shipping free. As buyers, the additional shipping costs usually make people think twice before buying your item. That extra charge seems like a nuisance.
At the end of the day, you can always experiment with this, see how you much you can earn. In truth, not only will you gain experience as as a seller, but you’ll also gain a good insight into human consumer psychology that will help you to better understand the buyer’s mind.
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