As if you haven’t already heard, millions upon millions of people of people buy and sell on eBay every single day. Some only make a few sales here and there. Others have figured out what it takes to become “Powersellers.” Powersellers are the very small minority of eBay sellers that do at least $2,000 per month in sales on eBay and maintain a 99% positive feedback rating. Powersellers are the ones that really know what they’re doing and if you really want to be successful on eBay then follow the secrets they revealed to me.
So, what are the secrets, tips and tricks that will cause you to become a Powerseller as well?
Well, I’ll be completely honest with you… I may be well on my way but I’m not a Powerseller yet. However, one thing that I know from creating several successful businesses is that if you want to become the best at something, you need to copy those that are already successful, ask them to mentor you and ask questions and take notes. And now I am going to take what they taught me and pass it on to you.
This is part four of a four part article series. You will find links to the other parts of this article series at the end of this article.
SECRET STRATEGY #16 – OFFER DISCOUNTS
Every single Powerseller that I interviewed offers some type of discount. It could be something like buy one and receive a second at 50% off. Or it could be that you offer free shipping on another purchase. Just make sure that you offer some type of discount and also keep in mind that “free” always works much better than anything else. For example, rather than say “Buy two and receive 50% off” say “Buy one get one free”. “Free” is a trigger word that really hooks people.
Furthermore, I have found that for most items, that offering free shipping can actually make you more money than if you didn’t. For example, a few years back, I wanted to find out if this was actually true. I had two whole rows at a concert and for the front row, I had people pay for the actual shipping costs which was like $9 to send them via FedEx 2-day delivery. A set of two tickets sold for about $400. The row in the back had free shipping and they sold for about $490 a set.
I made $81 more by offering free shipping. And it had to be the shipping because everything else about the auction was the same. In fact the better tickets made me less money. Now, I am sure that there are some exceptions to this rule (like maybe you are selling bulk items for $.01 and really making your profit off the handling) but I can’t really think of many examples. In fact the only exception that I can think of is international shipping.
But my point is that “FREE Shipping” works because it is very noticeable on search pages. Remember that the word “free” is a trigger word that catches people’s attention. The only other words that catch people’s attention like “free” is “you” and “sex”. Hey, I’m scared to think of what might happen if you put all these words in the same sentence!
Finally, with regards to the word “free”, always include it in your title IN ALL CAPS by simply adding “FREE bonus”. And then give your customers something for free. You can tell them what it is or not but always be sure to put a dollar value on it. For example, when I sell my information products, my bonus is a subscription to my email newsletter which I always give away for free but I put a value on it of $9.95 per month because I really believe that it’s worth that much since I know that I always over deliver. So I always tell my buyers that they are going to get a “bonus worth almost $120 per year!”
But here’s the key: it’s doesn’t really matter what the bonus is… all you are trying to do is get eBay users to click on your auction because you can’t start selling your product to them until the open the listing! Remember this every time you create a new listing. Your first objective is to get them to click on the auction listing. Think of it this way, you can’t sell to someone unless you get them in the store!
SECRET STRATEGY #17 – KEEP YOUR EYES OPEN FOR GREAT DEALS!
Every single Powerseller that I spoke with told me several stories about one little deal or something that they found for free that made them a ton of money. One of them told me about how he goes to swap meets and watches the buyers all day looking for one item that a bunch of them seem to be buying. He then buys one for himself and tracks down the manufacturer so that he can sell the product on eBay. This is an awesome idea because really what he is doing is market research by watching the buyers at the swap meet. In addition, this same Powerseller oftentimes buys a large quantity off a swap meet seller at a really low price right before the seller is about ready to leave for the weekend because would the seller rather make a little money or haul everything back?
Another Powerseller went to Africa for his honeymoon and while he was there he found some fabulous African headdresses. He struck up a deal with the maker and bought 500 of the headdresses at $2 a piece for $1,000 total. When he and his bride returned home, he sold the headdresses on eBay for about $75 a piece, made over $36,000 and got to write off his $10,000 honeymoon as a “business expense”! He did so well selling the headdresses that he decided to “take a business trip… tax deductible of course… back to Africa” and order 2000 more. Also, to share the wealth, he “gave the maker a raise” and paid $5 each without the maker even asking for it! I bet he was pretty happy. But here’s the really funny thing… he got such ecstatic reviews for his previous buyers that the headdresses became much more in demand that his average sale increased to over $125! With these headdresses, he has made over $270,000!
So, keep your eyes open and snatch up those great deals. On thing to remember, if you see a bunch of people buying something, then you can be sure that you will be able to find others that will buy. At the county fair? Ask the popular vendors if they would like you to sell their products on eBay and split the profit. See a great deal at Wal-Mart for some killer product? Buy a bunch of them and sell them to people that don’t live near a Wal-Mart or other discount store (and always list your items internationally because international buyers will often pay you more and even pay the shipping for certain items because many times that item is much more expensive in their country… even if it’s made there!) Basically, make offers that you can profit from everywhere you go. Sure, you’ll get dozens of “no’s” but one “yes” can make you thousands of dollars.
SECRET STRATEGY #18 – INVEST IN YOUR BUSINESS
Of course, you don’t want to waste money on your business but I constantly see people that don’t want to spend money on their business to make money. eBay, in particular, has some features that can make you more money when you use them and others that may not make a difference for your product.
For example, one of the biggest mistakes that sellers make on eBay is not spending $.35 to have the product’s photo show up in the gallery. This is the biggest listing mistake! Gallery photos draw considerably more clicks and bids and yet do a search for a specific product and you will see that about 1/3 don’t have gallery photos and always have lower highest bids. Without exception, all of my auctions have a gallery photo and are listed in bold as are just about every Powerseller listing.
And don’t be afraid to invest in your business by purchasing things like auction software, a digital camera (especially now that you can get them for under $100), a postage system (I use Stamps at http://www.a-to-z-web.com/links/stamps.html) or a web authoring program like DreamWeaver. Definitely be sure to invest in a high-speed Internet connection like the ones below because they will save you an incredible amount of time and frustration.
Comcast High Speed Internet Cable – http://www.a-to-z-web.com/links/comcast.html
Earthlink High Speed Internet DSL — http://www.a-to-z-web.com/links/earthlink.html
Qwest High Speed Internet DSL — http://www.a-to-z-web.com/links/qwest.html
Verizon Online DSL — http://www.a-to-z-web.com/links/verizon.html
Time Warner High Speed Internet — http://www.a-to-z-web.com/links/tw.html
Or my personal choice:
Time Warner Digital Cable High Speed Internet — http://www.a-to-z-web.com/links/tw-dig.html
Just do some research and determine how it will make you more money before you buy anything.
SECRET STRATEGY #19 – ALWAYS BE LEARNING… ALWAYS BE UP TO DATE
As a personal coach, I recommend that people reinvest 10% of their income in their personal education so that they constant grow. And I suggest something similar for your business. Constantly read books about eBay and the Internet all of the time and you will grow year after year after year. Here are a few titles that I suggest to get started on eBay:
The Silent Sales Machine Hiding on eBay by Jim Cockrum
eBay Cash Machine by Sebastian Foss
What to Sell on eBay and Where to Get It by Chris Malta
eBay Powerseller Secrets: Insider Tips from eBay’s Most Successful Sellers by Debra & Peter Schepp
eBay Timesaving Techniques for Dummies by Marsha Collier
In addition to these titles above, the is one other great resource: EBAY!
Check out the following eBay pages:
Learning Center — http://www.a-to-z-web.com/links/ebay-learning.html
eBay University — http://www.a-to-z-web.com/links/ebay-university.html
Security & Resolution Center — http://www.a-to-z-web.com/links/ebay-security.html
Well, that’s it! Armed with these secret eBay strategies, you too should be well on your way to making a very substantial income on eBay. However, should you wish to obtain even more information about how to make money on eBay and the rest of the Internet, please visit our eBay store for some fabulous informational products.
Unleash Life Success Coaching eBay Store
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Finally, if you missed any of the four parts of this article, you can read the other three at the following addresses:
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