Sell on eBay and increase your income
If you are looking for ways to increase your income, eBay is the land of opportunity. Have a look at our tips.
Thinking of ways to increase your income? eBay might be just what you are looking for
Everybody loves eBay. Just in the first quarter of 2021, there were almost 175 million active buyers using the website around the world. As you can see, eBay is a successful company where you can sell your products and increase your income.
The company has been a top e-commerce player since 1995, and it features roughly 1.3 billion products listed every day.
The platform is most famously known for making it possible for individuals to sell second-hand stuff.
But it is also an outstanding marketplace for sellers who want to make some extra cash or even build a full-fledged online business.
On average, eBay sellers make between $35,000 and $70,000 a year. Many sellers make just a few thousand dollars a year, but it all depends on how you manage your processes.
Can you sell a big inventory? What’s the price of your items? How do you manage shipping? These are some of the components of your sales process which deserve close attention if you want to succeed.
In this article, you will find tips on how to sell on eBay and increase your income. So roll up your sleeves, and let’s get to work.
1. Know thy product
There are two many things you can sell on eBay, but if your store is all over the place, people will tend to distrust it. Instead, pick a niche. A niche is a specialized segment of the market.
For example, your store may specialize in pet products. That way, pet owners know exactly where to go if they are looking for dog toys.
That is a much more guaranteed way of finding what they are looking for than a store that sells from dog toys to cell phone covers.
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2. Find profitable products
Profit is the difference between how much you pay for a product plus taxes and how much you manage to sell it for.
A few good places you can find profitable inventory to purchase are garage sales, thrift stores, flea markets, and Craigslist.
Search around for other places like these and make sure you can get a good profit margin for the products you purchase.
3. Get rid of shipping costs
Shipping plays a major role in the outcome of online consumer decision-making. As a rule, you want to eliminate shipping costs.
You can do that either by negotiating with suppliers or by including the shipping price in the price of the product.
4. Consider Dropshipping
Speaking of shipping, this is an intelligent inventory and shipping strategy that has been used over and over by very successful internet entrepreneurs.
In this model, suppliers take care of shipping and inventory. This way, you can stay focused on listing and marketing products in your store.
Dropshipping allows you to sell on eBay and increase your income at a very low cost.
5. Create an eBay Business Account for your store
Instead of creating a Personal eBay Account, go for the Business one. There are many advantages if you are planning to sell on eBay and increase your income.
With a Business Account, you can sell larger volumes. You can also input your business information, such as your company name and branding.
6. Keep an eye on the competition
Competitors are a great source of information if you want to sell on eBay and increase your income. We call this market research, and it is part of starting any business, including if you are selling on eBay.
One quick way to do it is to look into search results in the categories you intend to sell. With that, you will find out the top sellers in your niche.
These are the stores you want to keep an eye on. They will give you insights into what is trending.
7. Work on your visuals
In the world of online sales, looks mean everything. Poor quality photos are not going to cut it if you want to sell on eBay and increase your income.
People buy what they find attractive, and the image is a huge part of the attraction process.
Make sure you have clear images with a plain background, and do not neglect the details. Imagine it as if you were the buyer.
Which details would be important for you to see if you were looking to buy that product?
8. Honor thy consumer
eBay does not let customers leave a review just because. People buying on the platform routinely look into other customer reviews to make sure the seller is trustworthy.
So getting bad reviews for bad service is a bad idea. Make sure you only sell quality products, deliver them quickly, and provide a service that is both honest and responsive.
Learn how to communicate effectively with consumers through the platform, how to make refunds, and keep track of their correspondence.
9. Make intelligent use of keywords
When coming up with a title for your products, make sure to use Google’s Keyword Plan and Google Trends to find out the most used terms.
This is one of the most effective ways to increase the chances of potential buyers finding your product. Descriptions are also important.
Make sure they are clearly written, contain all the necessary information, and use keywords.
10. Rotate your product selection
Unless you specialize in one product (which is also a good strategy), you should always be updating your listings. Not only that shows customers your store is active, but it also shows eBay your store is active.
When eBay notices your store like this, they tend to show your products more often than those from stores that are less active.
Always be working on your listing so that you increase your chances of closing a sale.
Grow your income with our tips
Now it is your turn to put these tips into practice. eBay is an extremely powerful platform for internet entrepreneurs seeking to create and scale their businesses.
Whether you are a small business owner or just want to make some extra cash, learn more about this platform and increase your income.
And if you’re looking for some others ways to make even more extra income, check this list on the following content with 5 excellent and viable options.
If you want to make some extra money online, this article is going to give you 5 tested and proven ways to do just that.
About the author / Danilo Pereira
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