Seven steps to eBay selling success
There are millions of people who have made a decent living selling on eBay, and some have even become millionaires. There are also plenty of people who sell on eBay and fail to make a profit or end up losing money. In order to succeed, you need to take the time to properly research your product, learn about the market for it (what other sellers do with it), build up trust in your buyer's mind, offer excellent customer service, and more. If you want to earn huge profits from e-commerce stores like eBay rather than losing money by selling just any old thing that might sell on the platform, this is an essential read.
I have made a significant income selling on eBay using this approach; I'm not going to say I'm the best or that I'll make you a millionaire, but every penny I earn from this site helps pay for my living expenses and feed my family. As such, I really want to help you improve your chances of making money from eBay.
This article was written specifically with you in mind and takes an honest look at how to make money on eBay easily by selling the right products and giving great customer service.
I'm going to cover seven core principles to help you obtain and maintain success. You won't grow overnight, and you will need to be patient and consistent, but you can succeed if you do the right things.
I've broken them up into two parts, the first is for 'newbies' and the second is for more experienced sellers. If you have never sold anything on eBay before, I would advise reading both parts at least once. Many people who have sold a few things on eBay don't know what they are doing wrong or could be doing better by following some of the advice in this article.
The following are seven steps to eBay selling success:
1. Don't be a 'factory' seller - eBay sellers have to be comfortable with being challenged by their buyers as well as the general public, and must be willing to adapt.
2. Be willing to deal with the trolls - if you can't stand getting pushed around, you're not going to get very far. It's impossible to please everyone – that doesn't mean you shouldn't try or expect bad feedback from time-to-time. Remember that many people who give bad feedback on eBay are doing it simply because they disagree with your product or service and don't want you in their community – nothing personal.
3. Create a 'trust' profile – you don't need to tell the world every little detail about yourself, but you do want to post pictures of your products and show buyers that you are who you say you are. People like to know who they are doing business with and without being presentable, it's difficult to win their trust.
4. Give great customer service – it's both a benefit to buyers and sellers if they do business together. If you are an excellent seller with great communication, don't be afraid to get involved in the majority of a buyer's concerns. Don't try to take over the sales process and do your best to help a customer feel like they've made an informed decision and not just bought something because it was on sale or cheap.
5. Have high standards – it's common for people as rookies or 'first timers' who feel compelled to justify their profits by lowering their prices. The best sellers set high standards for their products to prevent this from happening. This is often simply because they have a more honest and ethical business, but you must make sure your ethics are not at odds with making a profit. Having high standards also protects against buyers' disappointment – if you don't feel the need to 'clear out' a product once it has sold, you are doing something right.
6. Don't overprice – if your price is too high then buyers either will ignore your listing or complain about it's value afterwards. Also make sure your item description is simple and clear to prevent buyers from getting confused about the product's value or price.
7. Have an exit strategy – if you're not making a large amount of profit then it's time to stop selling those items. You should be focused on selling high ticket items, not the other way around. This will prevent you from making any loss, and could even help you make extra income in the future.
The first principle must be followed for everything else to happen: if you are a 'factory' seller then your business will fail. A factory sells mass-produced products or services with little effort from the seller after their initial listing and are sometimes known as drop-shippers as they ship their products straight from a manufacturer to the customer without having any possession of inventory.
You can see that this approach is not going to lead you anywhere if you want to make a decent income. It does have it's place, but we're going to focus on building your own personal brand rather than taking the easy way out.
Don't expect everyone to like you or your products, but be willing to take on the challenge and learn from mistakes as well as good feedback. At times it may be difficult to keep smiling when people are attacking you or your business, but just keep reminding yourself why you are doing what you do and that if people don't like it they don't have to buy from you.
This principle should be followed instantly – if you can't handle being challenged, you're not going to get very far. Many people who feel this way give up and never try again. As an eBay seller, you will have to work on your customer service as well as your product quality. You need to be professional enough to stand behind what you are selling and give great feedback when the buyer is unhappy, but also human enough for a person to recognize that it was an honest mistake that was made by someone trying to sell something they didn't really believe in. You may even want to apologize for the inconvenience or stress caused if it's the fault of your Amazon FBA import process or communication with your buyer's bank. Don't over-apologize or you will have a harder time controlling your reputation.
Don't assume that because you are selling an item that it doesn't have value. Some people sell items for less than their purchase price, which can be frustrating to some customers who want to buy from you but can't justify the expense. Also remember that most customers are not looking for a bargain – what they want is satisfaction for their money. One way to avoid overpricing is to offer different versions of your product, which allows buyers to purchase the version they want and not just take the lowest price.
Conclusion
Most people think you need a lot of money to make money selling on eBay, but when it comes right down to it, you're better off working for yourself than hiring other people. Here's an example: the average fast food restaurant staff only makes $8.15 per hour, which is well below minimum wage in most states. That's a pretty good salary just for working at the same place for 40 hours per week. So, if you have a cool idea and want to earn some extra income without the hassle of hiring employees or getting expensive equipment set up, then Etsy is probably an option you should consider.