Understanding their customer is one of the hardest and and also one of things you need to do if you want to have a success in marketing either online and offline. When I sit down with a client one of the first things I ask them is, have they ever sold or bought on eBay. Most say kind of. I then explain that they need understand their customer before they can really make a success of their business.
You need to get into the mind set of your customer, what they look like, where they shop, what they like to eat, drink, wear. The types of music they like to listen to, and the list goes on and on.
Do they have a credit or debit card – if not you will find it very difficult to sell to them online, yes it can be done but you will struggle to make sales, as they will need a way to pay for the items.
The more you are able to understand your customer the more you will sell. For example it is a known fact that items sold at auction have a higher selling price on eBay if you finish in an evening at the weekend. This has been proven time after time.
You but some widgets and put them to finish on a Sunday evening at around 8pm, and your heart sinks when you notice no sales. But the main issue was the item you were selling was meant for a business, and these people were only online between 8am – 8pm Monday to Friday. You find this out, change your listings to finish between those times and your sales increase, and on further testing and understand the customer better you find the best time is at 1pm to sell these items. You change them again and your sales never look back.
As you learn more about your niche and what makes the people tick you will be able to find out more and more about your customers some may surprise you and others shock you, but if you apply these simple items into your eBay business you will see sales increase and other product lines will be brought to your attention.
So please take some time out and get to your customer, what they look like and what their buying habits are. Then you will be able to sell more to them and write better sales letters.
It is very true, list more and you will sell more. I do not know if there is any scientific research behind this, but as you look at the successful sellers in sites such as eBay, Amazon and Etsy the ones who sell items on a daily basis are the ones who list items on a daily (or regular basis). But from time to time most sellers seem to drift away from the listing process, sometimes there are real reason why we have not listed, but then there are just times when we find watching TV or just being plain lazy the reason for not listing.
The challenge is the times we do not list we soon see our sales slow down and in the worst cases sales stop, and then we start to blame eBay, Amazon and Etsy, and when we have done with that it is the product, Google, now while these could be a small percentage of the problem the underlying fact is we have stopped listing on a daily basis.
Each one of us runs our online businesses in a different way. Some of us have more time to run it while others only have a few hours a day to devote to running the business. But what ever time we have, we need to schedule into our To Do List and diaries a time to List, and then we will see the sales starting to come in and money flowing into our bank accounts.
How To List More
Myself and others have written blog posts and Facebook posts with hints and tips on how to have process that enables you to list more items in a short period of time and even if you have full time staff working for you some of the processes will help you generate more sales and increase your turnover of both money and stock. (And as a side note, it is quite important to have a good turn over of stock as this will help get people coming back to your shop time after time).
A method I have found that works well and one I teach students is :
Take all your photo’s for the week in one go : This will allow you to spend time taking the photo’s for the week and once you have taken them spend some time cropping them where needed and any other work on them. But an important thing is call them something that you will remember and if possible call the photo what the item is.
Next write up the titles and descriptions : You do this for each item in either a text file or word file, spend some time doing this, and also add the weight and cost of postage of each of the items.
You are ready : Because you have done all the hard work above it can be as quick as cutting and pasting the different parts of the listing into eBay and Etsy. (Amazon is even quicker).
Please try and not do each item on it’s own, this will take you a lot longer and very soon you will become very board and will be putting off doing any listings………….listings should be fun, as they bring you the money in.
In closing set yourself some listing goals. Let’s say you want 90 new items a month in your shop or store. This may sound a massive number, but it is only 3 listings a day. Three a day is a figure most people can cope with, and once you have reached this goal there is no reason why you cannot set a higher one such as 5 a day then 7 a day and so on. Have loads of fun List More and Sell More and soon you will be smiling.
For many people selling online their dream is to have their own product that they have thought about and dreamed about for months and maybe even years, but there are things that are always stopping them take that leap of faith.
Cost
Resources
Time
What If…………………
But today I would like you to put all those thoughts to one side, get rid of them and through them out the window. I want to tell you, that you can have your own product on sale not in a few months time, but in a matter of days and if you have some resources you can have your very own product range on sale in a matter of hours, and for very little cost.
Now before I start, I want to make it clear this will not be something earth shattering, it is not complex, but at the end of the day you will something that you have designed and invented your very self.
How To Make Your Own Gift Basket Product
First out of the block is having your own gift basket product range. Let’s say you sell skin care items, why not mix and match a few that go together – add some tissue paper to the bottom of a wicker basket, display the items on the tissue paper and then wrap the whole gift basket in cellophane and add a ribbon. Straight away you have added extra value. Let’s say the four items of skin care would normally retail for £5.00 each by making them into a set, you have added extra value, but by putting them into a gift basket and making it look pretty you could retail this for say £30.00. And that extra £10.00 will cover the little extras you used.
Think out side the box – you can do baby gift baskets, men’s, sweet’s, Christmas and the list just goes on and on. Spend some time brain storming ideas and see what you can come up with and watch the money roll in.
How To Make Your Own Bundle Product
This is another take on the gift basket idea. A bit simpler, but you are still adding value to a product and something you can call your own. For example let’s say you sell children’s colouring books on their own they are quite cheap. But if you add some colouring pencils and a case, you have added extra value to all three items and this means you can sell at a higher cost.
Again thinking along the lines of a children’s colouring book, why not make your own up. This sounds hard, but all you need are some Public Domain (And they must be Public domain) line drawings, and make up packs for children and parents. Think Holiday Packs, Animal Packs, Nature Packs, the sky again is the limit. These are low cost packs to make but can bring in repeat orders time after time.
I hope the above few ideas have started to help you think outside the box and shows how quickly you can have your own product out on sale on sites such as eBay and Amazon. We will have other ideas and thoughts for you on How To Make Your Own Product another time, but for now go and have a go and see some money come into your accounts. Have Fun
A very good question I get time after time, by clients and people just asking in general is “Can You Still Make A Profit Selling On eBay”. I take a deep breathe and say yes of course. But I do go and and explain that of course it is not as simple as it was all those years ago when eBay first started out. I also tell them they need to plan and prepare and do research, but if they follow through on everything they too can be making money day in and day out on sites such as eBay. Then I ask them another question……………is eBay for them and the products that they are looking to be selling. At this point I often get funny looks and go on to explain that there are now many other sites out there, that could be better for the products and items that they are looking to sell, sites such as Etsy and Amazon could be better for them.
In today’s economic selling on platforms can be very profitable people are looking not only for bargains but they are also looking for products that are good buys and good value for money and will spend time research and looking on line and this means you do not always have to be the cheapest seller, but the seller offering the best items and the seller who gives the best customer service.
eBay still after all these years gets a massive amount of visitors each and every day. And these people have money they want to spend and eager to spend money with someone, and if you have written and worded the listing in the right way they could be spending their money with you. Over the coming weeks and months we will be going into far more detail on how to write a listing and how to design your eBay Shop so that people will come and spend their money with you and not someone else.
You will hear if you have not already heard that eBay charges fees, yes they do, and sorry I am going to be very hard here either get over it, or find another site where for very little money you can sell items 24 hours a day, 365 days a week, and I think you will find it very hard. The fees are tiny and when you are sourcing product you will need to factor them into your overall costs.
In closing eBay is a wonderful place to earn money either on a Part-Time or Full-Time basis, you can sell a few items or sell many thousand items from your eBay shop. You will have winner and you will have losers that is a fact of life and part of running a business. So in answer to the question Can you still make a profit selling on eBay ? The answer is a big yes.
Andrew Milburn Is An eBay Consultant Based In The Uk
Over the past year I have been moving my eBay listings to a free postage format within the Uk – at the moment I cannot do this for overseas, but always charge the lowest possible amount. And when I do any consulting with a client I show them all the plus side of why you should do free shipping and then how to do it on eBay. The same goes when I sign up a new Trading Assistant Client. I spend some time explaining the free shipping method and how it can help increase sales for them and how buyers love the free shipping method.
Anyway the other week, I signed up a new client and having gone through the paper work and looked at the items (The had over 400 items they want me to sell), I explained the free shipping method, and you could just feel the tension rise. They did not want this, like this and could not see the benefit to them as a seller. Anyway I took half the items and they were bringing round the rest a few days later as there was a load of boxes.
Next day I was at a conference so did not have time to start my research on Terapeak, but got home to another email from the couple saying how they had gone onto the forums and people were saying free shipping was bad, I sent a quick email back saying I will do my research and get back to them etc.
Anyway fired up eBay and Terapeak and I was shocked, everyone of the items the category I would be selling in had a shipping charge (apart from 3 that did not sell). There was hundreds of them, I flipped to the next category and the same thing happened again. It seems that buyers in the Die Cast Models and Sindy Dolls want to pay shipping charges.
Now do I make a stand and stay with the free shipping on eBay or should I go with the flow ? ……………………………………………Comments please below, but for now I think I will just go with the flow and if the buyers want the shipping as a separate item on the listing that’s what they will have.
Andrew Milburn Is An eBay Consultant Based In Lichfield Staffordshire.
Here in the UK we have a program called Dragon’s Den – and other countries have their own versions either called Dragon’s Den or Shark Tank, but the format is the same. People or groups come in and pitch a group of business people who are looking to invest in a business. The rules of the den are simple.
You come and pitch your business
The Dragon’s make you an offer – This offer can be for the full amount, and a portion of the amount, but the rules state that if it is for less than the full amount another dragon must come in with the rest of the money or the deal falls through.
And you have to give them a share of your business and very often this is for more than the person asked for. For example you would say they could have 10% of the company and a dragon would want 30%, tense times, but most of the time the business goes for it.
Is this just some fun view for an hour to see 5 multi-millionaires through their money around – maybe, but for any business person or entrepreneur there are some wonder business lessons that can be learnt. One of the things the dragons get real cross about is people not knowing their figures. OK not all their figures but the basic ones any business owner should know and should know if they are going to pitch for money.
At times you can see the look of fear, shock on their faces when people have said they have invested hundreds of thousands of pounds and not got a business plan. These rules are the rules I have seen the dragon’s look for when they want to invest.
Rule 1 - Of the den is have a business plan………………….. But, I have seen one of the Dragons invest in a business where there was no business plan, but James Cann saw the potential and the drive in the two men, and he invested in them and then helped them to develop a plan and a business.
Rule 2 – Is know those numbers, Know the difference between profit and loss, Net and gross profits, Drawings and salary, By knowing these you have the finger on the pulse. In a recent episode Peter Jones was desperate to invest in a business but the guy had all the talk and how he had all these orders but no paperwork, and it looked like the deal was not happening, all the dragons had dropped out, and Peter Jones kept saying if only you had bought that fax in. Then suddenly Peter said You are definite about the fax, the reply was yes. He said Ok you want £100,000 for x % of the business. I want 100% of the business………………………silence and shock on all the faces, and on the orders coming through we will drop down to the agreed percentage.
You could here a pin-drop, seconds later the man said you have a deal. Peter Jones saw the numbers and business potential, but through this 100% of the business out there, knowing that if the man was bluffing he would just say no thanks. So know those figures and back them up with facts.
Rule 3 - Keep the business together, In this past series I have noticed time after the time the Dragon’s asking the business “Why have you split this business ?” Why not keep them together ?” And thinking about I can see the logic behind their questions. So next time you start a new venture is their a real need to go out and spend days forming a new business when it can fit inside your original one. Ok at times you do have to form a new one due to the ranges being so different and logistics just call for it.
Rule 4 – Have a product that will roll out around the world and is in demand - Another thing you start to notice, the dragons like products or services that can be scaled up and rolled out around the world.
Rule 5 – Have a passion – This works on both sides, you will often hear the dragons say what a lovely product they have, what a great business idea they have, but as a dragon they have no knowledge of this area so for that reason they are out, and will not invest. And as a business owner we should keep this in mind when looking for products and services to invest in.
In closing I hope you watch these businesses and learn from the pitches and from the dragons interaction with them, and in the one I saw today and who got an investment from two dragons, he did not really want the money he wanted the input of two dragons who could take his business further and give him the guidance he needed.
So as you watch Dragons Den, have a note pad by you and make notes to help you in your business.
For many parents in the UK and around the world in a matter of a few days something major is about to happen. Something that has been on the horizon for 5 years. And ideas ? Yes that little baby is now all grown up and will be heading off to school. For many Mums and Dads this is a tearful day, and for some it is the start of a new life as all their children are now at school. And this means added expenses, school meals, clothing and school trips and loads of birthday parties as they get invited to all their friends parties. So where does some of this extra money come from ? Well why not see if you can sell some the toys that will now be gathering dust ?
But I can hear you say who will want to buy a second-hand bike, or second-hand toys and clothing, well believe it or not thousands of people on the eBay platform are waiting right now, with their fingers on the Buy It Now button ready, willing and eager to spend their money. And I am being serious here. As the saying goes “One man’s junk is someone else’s treasure”, and all those things that will now be gathering dust can be turned into ready cash.
How To Sell Second Hand Toys
Before you all go mad and list everything in sight there are a few things that you need to sort out before you start to list and sell your items.
That they are still usable and safe for a child to use.
They conform to the UK safety rules and regulations.
They are clean and tidy (Yes it means you will have to give them a good wash), make they look as new as possible.
If you still have the box and instructions pack them away.
Now when you list the toys be as honest and open with the buyers if their is a bit of Lego missing tell them this in the description, yes it might put some buyers off but others just want the Lego. You see if you do not tell them and they get the Lego and find a piece missing they could get cross and leave you negative feedback but if you tell them the truth they know what they are buying.
Also if the toy is marked in anyway again tell them in the description and if possible take a picture of the mark and highlight the picture where the mark is.
Always tell them the truth and list the item to the best of your ability and always think what would you like to know if you were buying the second hand toy or item?
The second-hand toy market is massive and will always be around – you have people looking for a bargain, people looking to replace a favourite toy, and you also have collectors of toys. Price the toys at a reasonable price and try and offer free shipping. Remember in all this you are clearing out the second-hand toys and any profit you make is an added bonus.
Have fun and go and make some money in the wonderful world of second-hand toys.
Andrew Milburn is an eBay Consultant based in Lichfield Staffordshire.
Unless you have been hiding in some far off place, you will have noticed and seen and felt lack of money that is going around the world. But I do not want this article to be all doom and gloom, we are in a business where we can make a profit and at the same time help these business by buying up all these items at cheap prices, and then sell them on for a profit.
When you are out and about keep your eyes and ears open for those bargain sales. Some of the places where you will find these items are :
PoundShops
Discount Shops
Wal-Mart
Shops where they have deep discounts
In fact keep those eyes open, you know those buy 2 get one free offers you can make great profits on those type of sales. One craze that is happening in stores in the UK is buy one get two free. Yes that’s right buy one item and then get two items free. If the product and price is right then you are laughing all the way to the bank.
Another tip that I have found that works, is we are at the end of the summer months now, and these discount shops have stacks of Sun Tan Lotions and After Sun Lotions in stock, and they are selling them off at silly prices. Check the sell by date and buy a few dozen. You can either put them straight up on eBay and Amazon (remember people are still going abroad and it is still hot and sunny over seas. Or if the sell by date is long enough keep them for next summer. If you buy at the right price and sell at the right price then quite often there is a profit of a a few pounds on each item.
Another thing to look out for in these shops is the discontinued items, again if you know what you are buying and the pricing is correct then massive profits can be made by buying these items at a , low price and flipping them hours later for a higher price. This is the name of the game – Buy Low, Sell High.
Andrew Milburn Is An eBay Consultant Based In Lichfield
You may be thinking what a funny title “Does Halloween Make Money”, and before you get into a debate about the rights and wrongs on the ethics on Halloween, you need to understand one thing, Halloween does make money and a lot of money at that. Halloween is mega spend for people all over the world, and if we look at figures around $5.8 Billion dollars was spent by Americans alone. Yes you did read that right $5.8 Billion, so does Halloween make money?
Other stats that came out 2 out 5 Americans will buy a new costume, and then there are the sweets, lights decorations, food, costumes for pets. People go mad at this time of year and as long as you have the marketing correct and the stock online at the right time you can make money from Halloween.
(We also need to remember this multi-billion dollar turn over is small compared with the Thanksgiving and the up and coming Holiday season after that.) And all the figures are on track to be bigger and better this year.
So How Do You Make Money From Halloween
@ To start with you need to be prepared, you need a plan or Road Map To Success. Start today if you want to be part of this crazy money making day and remember it really is just one day or a few days if it is at the weekend.
@ Talk with suppliers and either buy in stock or arrange a drop-shipping plan. But a word of warning with drop-shipping around that time period, suppliers will run out of items and this could leave you with buyers and no stock, so you will need to have back up plans if you can.
@ Also try and not and buy too much stock as again most fancy dress items sell all year only some sell at that time of year. And as long as it is not food it will last till the next year.
@ Make sure you have all the postage and packing items that you will need. At this time of year speed is what’s needed, people want an outfit or gift delivered within days for the party they are having or attending.
@ Do your research, make sure you price the items right, offer free shipping and by doing this you will find Halloween does make money.
Andrew Milburn Is An eBay Consultant Based In Lichfield
One of the popular “moans” I hear when coaching with clients is “I don’t have the time“, and then in the next breath they tell you how they go to pub every night and meet friends or how they must make sure they are home to watch the latest soap opera or reality TV. So when they say “I don’t have time” I will often smile and say but you do.
Then I will just run a few questions by them and try and find out how long they spend watch the TV or down the pub, and at times it even shocks the people I work with. So let’s look at some rough and average figures. Recently I asked a new client about something and she gave me the classic answer it is OK for you, but I don’t have the time. Now I knew Miss X loved her soaps and reality TV so I asked her how many hours a week do you watch your programs, without batting an eyelid, she said guess 24 hours a week, so I said that’s around 100 hours a month.
And to be honest she did looked shocked so i went on a bit…………..Miss X how many hours do you put into your job at the office and she said 30 hours a week. And then it hit her…………………….She said I do have time don’t I. I said well when you think you put almost as much time into watching TV as you do work then yes.
We then sat down and I showed her how to plan her day and how she could still watch some of her TV, but if she halved her TV time she could find an extra 48 hours a month to put into her business. So you see when people say “I don’t have the time” we need to look into where they do put their time.
But this also goes for us who work from home, we will often say those famous words “I don’t have the time. We need to make time. Over the next few months can I challenge us all to keep a close note of where our time goes to. If we find we are spending to many hours on Facebook or Google+ we need to turn it off. (A side note to that is if it is making you money, keep at it, but if all you are doing is looking for long lost friends and chatting to mates, then switch it off). Set aside some Social Media time each day of around 30 minutes and stick to it. But do not use it doing your hours of business.
If time is really an issue with you ask a friend to work on a time plan with you, and help you to stick to it. There are many other ways on where you can find time, and in up coming posts we will look at some of these. So please ban those words “I don’t have the time” from your life and start and make some time.
Andrew Milburn Is An eBay Consultant Based In Lichfield Staffordshire
