If you think only big box retailers can cash in on Black Friday & Cyber Monday, think again! Through my 18 years as an eBay seller I look forward to the craziness of these two shopping days with glee!
Because Black Friday kicks off my biggest selling season of the year. And by learning these 3 surefire eBay selling tips it can be your most profitable time of the year, too!
OK, the selling season is right around the corner so jump on board the sales sleigh and let’s go!
First stop – Profit City, baby!
eBay Selling Tip #1:
Research, research, research!
I’ve said it before (about a zillion times) and I’ll say it another zillion, “If you want to make money on eBay, if you want your eBay store to turn a profit you must research items before listing them on eBay!”
One of the #1 reasons people get discouraged and quit selling on eBay is that they are not making money. You are throwing money away if you list an item that is not likely to sell.
Why? Because time is money and there’s no reason to waste time when you have terrific eBay selling tools right at your finger tips.
Research with WorthPoint
Instead of spinning your sleigh bells and getting nowhere, use my beloved WorthPoint and research all items before you buy them at garage sales, flea markets, estate sales, thrift stores, etc.
And, above all else,if you’re an eBay consignment seller and you’ve agreed to sell someone else’s “stuff’ on eBay you must use WorthPoint.
Your clients are counting on you to help them make extra holiday money. By using WorthPoint you can help to manage their expectations by giving them solidly researched sales information.
You’ll be able to let them know if their “treasures” are likely to sell or not.
Use the WorthPoint app so you can research on the run. I believe this is the most important eBay selling tool available! As an eBay seller you’re always on the run, right?
When you’re moving from place to place in search of the next great deal, you’ll never have to wonder whether you should invest in an item or not. WorthPoint will give you all the market statistics in seconds!
If you’re ready to have success and make more money on eBay sign up for WorthPoint now!
If you have any questions about WorthPoint or want to schedule an eBay training Contact me now.
Research Sales Ads From Big Box Stores
Big box retailers have something you don’t – a gazillion dollar R&D (research & development) budget and ginormous teams of marketing brainiacs at their disposal.
BUT, YOU have the newspaper and the Internet! More importantly, the big box stores have taken the heavy lifting out of your research and made it much easier for you to make a profit in your eBay store!
By the time ads hit the newspaper, coupon sites on the Internet, and retail websites, every item has been researched by the aforementioned brainiacs.
Whatever products they’re pushing, you can bet it’s because they know in advance these items will be hot, hot, hot!
Hot products are one’s to be on the lookout for!
Why? Cabbage Patch Dolls, Tickle Me Elmo, & Beanie Babies. ‘Nuff said.
Here’s my “Big Box Ads Research Method”, step-by-step:
- Sales will start surfacing the week of Thanksgiving. If you don’t subscribe to the newspaper make sure you get copies somewhere, starting with Sunday before Black Friday and even the entire weekend of Black Friday.
- Pull out all the sales sections and carefully go through them. Use a marker to circle all of the great deals you think will be a good fit for your eBay store and will be easy enough for you to get when the stores open on Black Friday or Cyber Monday.
- Now take all those sale flyers, sit in a comfortable spot at your computer, and start researching each item. Pay attention to the trends in the last 10 days if using ‘eBay completed listings’. Take a quick look at current listings to see what the current prices are because you never know, there could be someone selling them cheaper then what you could buy them for on sale.
- Next, do a quick search on Google for the item because again, if you discover this is a HOT selling item, it can’t hurt to search the net for an even better price before you head out to fight the crowds.
- Make sure when searching Google you use “good” SEO keywords like “Cyber Monday sale”, “free shipping Cyber Monday”, “best deals Cyber Monday”.
- Also, check store websites directly, like Walmart especially! Target, Best Buy, Sears, JC Penney, Macy’s, etc. Get signed up on their mailing list ahead of time! Join the sites NOW so you will receive the pre-Black Friday and Cyber Monday emails with special discounts that are only for subscribers. Seriously. Don’t wait! Sign up as soon as you get to the site!
eBay Selling Tip #2:
Black Friday & Cyber Monday Email Marketing
Potential buyers are always impressed to see “the little guy” offer Black Friday & Cyber Monday specials.
And, with so many folks out there choosing to spend their dollars with locally & independently owned businesses, you must have at least a few items in your eBay store that are great Black Friday & Cyber Monday deals.
Once you’ve decided which items to discount, it’s time to get the word out!
This is where I see many good eBay sellers get tripped up. They either spend too much energy on social media and leave their email campaigns a little ‘dusty’ or they don’t take full advantage of all that a good email marketing strategy can offer.
Remember, emails are 45 times more likely to be seen than than anything you post on Facebook. This is because (unless you pay for advertising) approximately 2% of your Facebook followers actually see your posts. Yes. 2%.
The email marketing service I use and believe in wholeheartedly is Constant Contact. I’ve been so successful in using this service, that I’m the Constant Contact Authorized Local Expert for all of Central Florida.
Here are some email marketing strategies I use. These techniques always help my Black Friday & Cyber Monday sales grow larger every year:
- Use a Black Friday and/or Cyber Monday-specific email template. Make sure this newsletter really stands out by using a themed template or if you can create your own, go for it!
- Send out a holiday preview flash sale. Give your customers an additional % off their entire purchase when they shop early and quickly! But remember, if you are running a flash sale make the times of the sale extremely obvious.
- Offer free shipping. Most everyone knows ‘free shipping’ isn’t really free. The costs are built into the price. But the positive psychological effects of offering ‘free shipping’ have been documented over and over again in case study after case study. Bottom line? Sales go up when ‘shipping costs’ go away.
- What better time of year to thank your customers than during the holidays? Saying thanks let’s your shoppers know they’re appreciated. However, the caveat is – don’t make it a standard ‘thank you’. Make the thanks meaningful and creative. This will let customers know they are truly appreciated and you’re not just throwing some words in a newsletter because it’s the polite and professional thing to do.
- Make a video! Yes, of course, you! First of all, and without going into a whole long story about how well video converts shoppers into buyers, a video of you saying hello, talking about your products, and personally inviting people to shop at your eBay store goes a very long way in establishing a relationship with your client base. It doesn’t have to be fancy. Even an iPhone or iPad video made on the fly can be awesome if you are sincere!
Are you ready to be successful, too? If so, I’m ready to help you achieve your goals! Sign up for a FREE 60 DAY CONSTANT CONTACT TRIAL and I’ll give you a FREE 30 MINUTE CONSULTATION!
eBay Selling Tip #3:
Go With Your Gut
Yes. Confusing. I know. Tip #1 is all about research and here I am telling you to “go with your gut”.
Let me just say that I almost always err on the side of research BUT, sometimes you have to make a decision and maybe don’t have time to research or don’t have Terapeak on your phone or iPad. That would be a travesty but it could happen 😉
Let me tell you a quick story about the friend who didn’t follow her intuition…
Several years ago a friend of mine was Christmas shopping in Hobby Lobby when she noticed an entire stand of Kurt Adler Star Wars Christmas tree toppers – with a 60% off sign!
She thought, “No way! It’s only December 3!”
But she asked the store manager if the sign was correct and the manager replied, “Yup.”
Now, my friend is a part time eBay-er so she knew Kurt Adler collectibles can be extremely profitable items to sell on eBay. And she knew Star Wars collectibles can bring in big bucks, too. Annndddd her husband L.O.V.E.S Star Wars so she snatched up a “Yoda With Light-up Light Saber” tree topper.
Then she stood there for 30 minutes trying to decide out if she should buy all the tree toppers and sell them on eBay. She even went as far as to call 3 other Hobby Lobby’s within a 100 mile radius to see how many each store had in case she wanted to make a “sweep”.
She didn’t research the items but her “gut” was urging her to buy them all!
For reasons she has never been clear on, she left Hobby Lobby that day and only bought Yoda for her hubby.
Later that night, after an eggnog or two, she fired up eBay and searched “Kurt Adler Star Wars Tree Toppers”.
And what to her wondering eyes should appear but completed sales that were 4,5, & 6 times what she would have paid for the tree toppers at 60% off in Hobby Lobby!
Well, she grabbed up her phone and dialed all the Hobby Lobby’s but she was too late. Whether to savvy eBay-er’s or folks who loved Star Wars as much as her hubby, the tree toppers had all been sold. Not one was left.
Another cup of eggnog and she couldn’t stop herself. Based on completed sales she totaled up the money she could have made if she had followed her instincts earlier in the day.
If she had purchased all available Star Wars tree toppers and if they had all sold for similar prices, should have realized an $800.00 profit.
Once you get to know your way around eBay, sometimes you’ll be able to just “know” when there’s a terrific deal to be had.
Trust in hunches, trust in yourself, and you’ll have a happy eBay selling season!