Those who have decent eBay businesses and aren’t interested in making more money should just ignore this article. For everyone else who wants to grow their business and increase profit margins, here are a few simple tips that you can put into practice immediately.
1) Building a customer base. You’d be surprised how many of your past customers want more of what you have. It’s not spam and it’s not being annoying. They have trusted you enough to purchase from you the first time, so email them back whenever you get new inventory, whenever you’re having a sale, or whenever you have something unusual or rare in stock. Export your past customers emails from PayPal and import them into an autoresponder to send out emails.
2) eBay’s Publisher Network. Basically you make money by getting people to buy stuff on eBay after clicking your link. Combine with tip 1 for insane results, that’s what this post is all about.
3) Staying on top of pricing. Check your listing prices every week or so to stay on top of what the market is doing and raise or lower your prices accordingly. Successful businesses rely on inventory turnover and you can make more money by selling inventory faster by just lowering your prices a little bit.
4) Inventory clearouts. If you have inventory sitting around too long you can really hinder business growth. Old inventory ties up capital, takes up space on your shelf, and hinders cash flow. Clear out your old inventory and replace it with some quicker sellers.
5) Watching your pennies. With a few simple tricks we have reduced our listing fees by 60-80% because of eBay’s new policies. We can get the same amount of sales by putting many items in one listing and optimizing that listing for ‘Best Match’. We also have found that using 30 day or good till canceled listing durations help in lowering fees. With just those few changes we have lowered our eBay fee invoices from over $1500 to under $300.
Jesse Holmes is an eBay PowerSeller and Entrepreneur who has been making money on eBay for over 3 years. Before you start to sell on eBay, you need to check out his excellent free eBay Business Start Up Kit, showing you step by step how to learn to sell on eBay.
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