As I sit here this morning going over my April sales numbers, I can't help but notice how well I have done since getting back into ebay. When Cassini hit, I moved away from ebay due to the huge drop in sales. I instead went over to amazon and starting ramping up my business over there. As you probably know by now, the profit margins at amazon using FBA were half of what they were with ebay. But I stuck with it for 1 1/2 years before finally throwing in the towel. It wasn't until the end of March of this year that I finally decided to head back over to ebay and give it another try. I'm glad I did.
Prior to Cassini I was selling probably 80 items per month. After Cassini, my sales dropped to about twenty or thirty. Knowing this made me a little gun shy heading back into the ebay world. But I knew other sellers who were able to adapt to Cassini and bring their sales back up. So I wondered what they had done to accomplish this. In addition to talking to them, I also did my homework. I researched what others were saying about Cassini and how to work in conjunction with it to increase their sales. The answer to this was simple. It was all in the details. Let me explain.
Ebay is having to compete with amazon, and to some extent the other online platforms. But what ebay has over them is the ability for sellers to sell used items that are not permitted on these other platforms. If you are looking for something specific and want it used, most likely ebay is the only platform where you are going to find it. In addition, ebay recognized that the buyer experience was what was going to keep them relevant. They had to change in order to meet the requirements of their buyers.
Enter Cassini. Cassini took the search to another level. The primary role of Cassini is to match a buyer with the best seller for them. It factors in things like feedback, price, customer service and yes, item details. No longer can you just cram keywords into your title and descriptions and get a high placement. You have to bring value to the buyer. Cassini's algorithm is designed in such a way as to minimize the effects of keyword spamming. But it's not just these items that factor into where you show up in search results. You also have to have a decent sell through rate. For Cassini, if you are selling a high percentage of your listings, then you must have items that are in demand and therefor you will rank higher. Cassini also rewards you for having as much information in your listings as possible.
So what makes a great listing? To begin with, you want as much detail in your title as possible. Things like brand, color, style, size etc. You cannot just say "Women's blouse blue with flowers size 8". Now your title should be "Chico's Petite Blue Flowered 100% Non-iron Cotton Blouse Size 8". See the difference? All the specifics about that blouse are now in the title. But it doesn't end there. Below your pictures is an area for item specifics. This is where you input specific details about your item. Every single entry should be filled out. Even if one of them is unknown, put that in the field. Cassini wants all the details. The more you fill in the better off you are going to be.
Once you get to your description, your first line should be your title once again. Below that should be a bullet list of details about the item. Things such as 100% Non-iron Cotton keeps your blouse crisp and clean, Beautiful floral pattern, Long Sleeves, Machine washable, etc. When filling in your item condition, make sure you are honest. Note any defects or markings that may be of significant importance to the buyer. Don't try to sugar coat anything. That's a sure way to get a return and negative feedback. Lastly, make sure to do your homework on pricing. Look at similar items in similar condition that have already sold. For me, I try to be in the middle between the low and high priced sales. Don't under or over price yourself. You'll either have a low margin, or be sitting on an item for a while.
Follow these best practices and watch your sales increase. Cassini loves data. Make sure you are feeding it what it wants.
Tuesday, May 2, 2017
Thursday, April 27, 2017
So You Want To Be A Millionaire Seller?
Ah the dreams of the new ebay seller. They see story after story of an ebay seller who made a million dollars selling stuff on ebay, and they want to be the next success story. So how does one accomplish this lofty goal? What does it really take to make a million dollars selling on ebay? Well, I'm glad you stopped in for this little chat because I am going to explain it to you.
There is no real secret to selling a million dollars on ebay. Of course people are tempted by all of these courses that promise to reveal insider 'secrets' to accomplishing this goal. And of course that information comes at a price, and usually a hefty one at that. It's all smoke and mirrors. A lot of reading and regurgitating information that is already freely available if one has the patience to look for it. I'll give you the real secret. The real 'insider' information that will transform your life forever. you have but to read on!
First, you must know how to sell on ebay. You have to understand how to get people to buy your item instead of from the hundreds or thousands of competitors out there. For me, I am not the cheapest seller in my niche. I sell at higher prices than my competitors. So why do people buy from me vs. the other guys I am competing with? It comes down to a couple of points. First, I follow all of the ebay rules. Ebay will tell you exactly how to get sales. The problem is most people don't have the time or inclination to follow the guidelines ebay has set up to help sellers. This is the first step in being a successful seller. Follow what ebay wants you to do to the letter.
Next, you have to have exceptional customer service. The phrase 'The customer is always right' is something ebay lives and breathes, so you had better do the same. Yes it sucks when we get returns, but it is no different that what retail stores go through. Accept it and move on. It's nothing personal, it's just a part of doing business. Get the item back and resell it. It sold once, it will sell again. Feedback is your lifeline. While most buyers pay little attention to it, ebay pays very close attention to it. Their search engine, Cassini, uses it to weigh what sellers go to the front of the search line. Get bad feedback and you move to the back of the bus until you redeem yourself.
While those two points are a simplification, they are the two top items to keep track of. Do your research and learn the other factors ebay uses to score your listings against other sellers. Trust me, you'll be glad you did! Follow the guidelines and watch your sales take off.
Now for the meat. How do you sell a million dollars on ebay? It really is a simple formula. Ready for it? If you sell an item for $1, then all you have to do is sell one million of that item. See? Simple. Now no one is going to do that, but you get the idea. If your item sells for $10, sell 100,000. If it sells for $50, sell 20,000 and so on. It's that simple. It's a volume game. The higher your sale price, the less you need to sell to get that million dollars. So what's stopping you? As you sell you gain confidence and begin to grow. Follow your instincts and get those sales! Quit waiting for the lottery or a rich relative to kick the bucket. There is plenty of cash out there for the taking. You just have to figure out how to get it!
Have fun and let me know when you make it big!
There is no real secret to selling a million dollars on ebay. Of course people are tempted by all of these courses that promise to reveal insider 'secrets' to accomplishing this goal. And of course that information comes at a price, and usually a hefty one at that. It's all smoke and mirrors. A lot of reading and regurgitating information that is already freely available if one has the patience to look for it. I'll give you the real secret. The real 'insider' information that will transform your life forever. you have but to read on!
First, you must know how to sell on ebay. You have to understand how to get people to buy your item instead of from the hundreds or thousands of competitors out there. For me, I am not the cheapest seller in my niche. I sell at higher prices than my competitors. So why do people buy from me vs. the other guys I am competing with? It comes down to a couple of points. First, I follow all of the ebay rules. Ebay will tell you exactly how to get sales. The problem is most people don't have the time or inclination to follow the guidelines ebay has set up to help sellers. This is the first step in being a successful seller. Follow what ebay wants you to do to the letter.
Next, you have to have exceptional customer service. The phrase 'The customer is always right' is something ebay lives and breathes, so you had better do the same. Yes it sucks when we get returns, but it is no different that what retail stores go through. Accept it and move on. It's nothing personal, it's just a part of doing business. Get the item back and resell it. It sold once, it will sell again. Feedback is your lifeline. While most buyers pay little attention to it, ebay pays very close attention to it. Their search engine, Cassini, uses it to weigh what sellers go to the front of the search line. Get bad feedback and you move to the back of the bus until you redeem yourself.
While those two points are a simplification, they are the two top items to keep track of. Do your research and learn the other factors ebay uses to score your listings against other sellers. Trust me, you'll be glad you did! Follow the guidelines and watch your sales take off.
Now for the meat. How do you sell a million dollars on ebay? It really is a simple formula. Ready for it? If you sell an item for $1, then all you have to do is sell one million of that item. See? Simple. Now no one is going to do that, but you get the idea. If your item sells for $10, sell 100,000. If it sells for $50, sell 20,000 and so on. It's that simple. It's a volume game. The higher your sale price, the less you need to sell to get that million dollars. So what's stopping you? As you sell you gain confidence and begin to grow. Follow your instincts and get those sales! Quit waiting for the lottery or a rich relative to kick the bucket. There is plenty of cash out there for the taking. You just have to figure out how to get it!
Have fun and let me know when you make it big!
Wednesday, April 26, 2017
What Kind Of Seller Are You?
When selling on ebay, most new sellers take the shotgun approach. They find items they have and start trying to sell them. When something sells, they try to find another item like it and try to sell that one. Lather, rinse, repeat. That's the typical cycle. The problem is that sometimes that one sale on that one item is all you will ever get. You just happened to list it at the right time when that one seller was looking for it. It may take another year or even longer for someone else to come searching for that item. If you do that enough times you wind up with a bunch of stale inventory. So what is the best approach in selling?
There are typically two types of sellers. I liken these to two types of retail stores. You have Walmart that sells a wide range of products. They try to be all things to all people. There are also ebay sellers who do the same thing. The down side to this is that you need a ton of space to be able to offer a wide enough range of products in order to keep a consistent flow of income coming in.
The second type of seller is specialized. Kind of like Victoria's Secret. They sell one type of item. They found a 'niche' of products that sell very well. They have a ready set of customers who look for their product. They can turn inventory quickly and therefore do not need a huge storage area to accommodate their business. You see a lot of that in the mobile phone and accessories categories. Some people sell cases while others sell power adapters. They typically sell a product they are familiar with and knowledgeable about.
Neither approach is better than the other. It can work for any seller. The difference comes in with how you prefer to run your business. If you are new and not sure what to sell, then the Walmart approach may be the best way to start. It allows you to test several types of products before settling on a niche item. Of course there are those sellers who love the treasure hunt and will never be a niche seller. I was this type of seller for many years. I was always on the hunt for the next treasure. I would find a hot seller and ride it until it cooled down, then pick another. All the while I just listed other stuff I thought might sell.
The point of all of this is to help you figure out what type of seller you want to be. Know the pros and cons of each type and jump feet first into selling. Don't sit back and wait for the perfect product to land in your lap. You may wind up waiting your life away. Start listing items and you may just end up finding a real gem hiding in the array of products you are listing!
There are typically two types of sellers. I liken these to two types of retail stores. You have Walmart that sells a wide range of products. They try to be all things to all people. There are also ebay sellers who do the same thing. The down side to this is that you need a ton of space to be able to offer a wide enough range of products in order to keep a consistent flow of income coming in.
The second type of seller is specialized. Kind of like Victoria's Secret. They sell one type of item. They found a 'niche' of products that sell very well. They have a ready set of customers who look for their product. They can turn inventory quickly and therefore do not need a huge storage area to accommodate their business. You see a lot of that in the mobile phone and accessories categories. Some people sell cases while others sell power adapters. They typically sell a product they are familiar with and knowledgeable about.
Neither approach is better than the other. It can work for any seller. The difference comes in with how you prefer to run your business. If you are new and not sure what to sell, then the Walmart approach may be the best way to start. It allows you to test several types of products before settling on a niche item. Of course there are those sellers who love the treasure hunt and will never be a niche seller. I was this type of seller for many years. I was always on the hunt for the next treasure. I would find a hot seller and ride it until it cooled down, then pick another. All the while I just listed other stuff I thought might sell.
The point of all of this is to help you figure out what type of seller you want to be. Know the pros and cons of each type and jump feet first into selling. Don't sit back and wait for the perfect product to land in your lap. You may wind up waiting your life away. Start listing items and you may just end up finding a real gem hiding in the array of products you are listing!
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