Where do I get profitable products? That's the big question when selling on eBay, and it might seem like the hardest question to answer. Maybe you've been frustrated when you have found products from a 'drop shipper' and found that the items sell on eBay for less than the 'wholesale price' that you could buy them for.
It's not the best business model to sell stuff for less than you pay for it, unless you absolutely positively know that you are going to be able to get more business from that customer to offset your losses. But that's pretty advanced stuff if you're just getting started selling on eBay, and in no way should you tell everyone that I gave you a reason to sell items for less than you pay for them.
Also, I don't want you to get stuck in the 'dropshipping' trap. I've wasted hours and hours literally going through every single product in a dropshipping company's catalog only to find out that none of them are profitable to sell on eBay.
To make serious money on eBay you need to analyze what the big guys are doing and see how they are profitably moving inventory. eBay is different then a lot of places due to the nature of the site. People are going there to find a great deal, but there's much more to it than that.
If you hopped on to eBay right now looking for a specific item, you would obviously research and try and find out where to get the best price. However, it gets to a point where you don't want to necessarily pay the lowest price because as the saying goes 'you get what you pay for'.
Some people think that if they are the cheapest price on eBay, that will guarantee them maximum sales. While that might be true in the short-term, chances are that their profit margins will be so small that they won't be in business for long. Remember that you're in business to provide an experience for your customer. This includes a great product at a good price. Also, it means that you make a reasonable profit.
So how do you avoid going out of business in a price-competitive marketplace? How do you compete?
There are a few different ways. One of them is to make sure that your listing stands out from the crowd on more things than just price. Draw your customer's eyes away from the price tag by taking amazing pictures. Make sure that you have the most relevant keywords in your listing title to maximize your listing traffic. However you can, get people to click on your listing. Once you do that, you'll have a better chance of selling to that customer.
Once your customer makes the jump to your listing, they're going to decide whether they can trust you. Your feedback rating factors in here, but in addition to that is also the professionalism of your listing. You need to show that you're a quality seller that will provide the best customer experience.
How do you show that you are a professional seller? Make sure your listing looks good (with a professional template), have clearly defined policies, clear pictures, and a good description that you've taken the time to create. Don't just copy and paste it from somewhere else.
Think of the times you've gone looking for an item and wondering if the seller was legitimate and if you could trust them with your money. You don't want other buyers doing the same thing once they land on your listing or eBay store. Some people are just skeptics and you can't change their mind, but many people are savvy buyers who want to do business with someone they can trust.
The first-impression carries the most weight. If you can set yourself apart from the crowd from the first time that people see you, then you'll have a competitive edge to selling on eBay.
It's not the best business model to sell stuff for less than you pay for it, unless you absolutely positively know that you are going to be able to get more business from that customer to offset your losses. But that's pretty advanced stuff if you're just getting started selling on eBay, and in no way should you tell everyone that I gave you a reason to sell items for less than you pay for them.
Also, I don't want you to get stuck in the 'dropshipping' trap. I've wasted hours and hours literally going through every single product in a dropshipping company's catalog only to find out that none of them are profitable to sell on eBay.
To make serious money on eBay you need to analyze what the big guys are doing and see how they are profitably moving inventory. eBay is different then a lot of places due to the nature of the site. People are going there to find a great deal, but there's much more to it than that.
If you hopped on to eBay right now looking for a specific item, you would obviously research and try and find out where to get the best price. However, it gets to a point where you don't want to necessarily pay the lowest price because as the saying goes 'you get what you pay for'.
Some people think that if they are the cheapest price on eBay, that will guarantee them maximum sales. While that might be true in the short-term, chances are that their profit margins will be so small that they won't be in business for long. Remember that you're in business to provide an experience for your customer. This includes a great product at a good price. Also, it means that you make a reasonable profit.
So how do you avoid going out of business in a price-competitive marketplace? How do you compete?
There are a few different ways. One of them is to make sure that your listing stands out from the crowd on more things than just price. Draw your customer's eyes away from the price tag by taking amazing pictures. Make sure that you have the most relevant keywords in your listing title to maximize your listing traffic. However you can, get people to click on your listing. Once you do that, you'll have a better chance of selling to that customer.
Once your customer makes the jump to your listing, they're going to decide whether they can trust you. Your feedback rating factors in here, but in addition to that is also the professionalism of your listing. You need to show that you're a quality seller that will provide the best customer experience.
How do you show that you are a professional seller? Make sure your listing looks good (with a professional template), have clearly defined policies, clear pictures, and a good description that you've taken the time to create. Don't just copy and paste it from somewhere else.
Think of the times you've gone looking for an item and wondering if the seller was legitimate and if you could trust them with your money. You don't want other buyers doing the same thing once they land on your listing or eBay store. Some people are just skeptics and you can't change their mind, but many people are savvy buyers who want to do business with someone they can trust.
The first-impression carries the most weight. If you can set yourself apart from the crowd from the first time that people see you, then you'll have a competitive edge to selling on eBay.
About the Author:
Jesse Holmes is a skilled eBay Powerseller, author, speaker and consultant. He is willing to show you how to sell on eBay with his easy to follow eBay 101 Start Up Kit, but only for a limited time. Go now for exclusive free access!
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