You can also use the Buy It Now (BIN) feature to sell your products. Just like the
name suggests, this feature lets people skip the bidding process and buy your
items at a fixed price. The BIN feature is very convenient, because not everyone
that buys things on eBay wants to wait for the auction to end.
If you are going to use BIN remember that whatever the BIN price is, that is what
the customer will have to pay you (plus shipping). I know that is obvious, but I
have heard of people setting the BIN prices at $1 thinking that BIN works like a
regular auction. You should set the BIN price exactly at what you want your item
to sell at. Again, don't get too greedy.
$1 No Reserve auctions are one of the best ways to generate bidding and excitement.
Best Time To List
The time you list your auctions can have a big effect on the number of bids your
auction receives and the closing price of your auctions.
The time when your auction usually gets the most bids is near the end. If you
have listed an auction for 7 days, the whole seven days have been building up to
the end of the auction.
The end is when the last minute bidding begins, bidders desperately try to out bid
one another to win the auction. The end of your auction is also when it gets the
most traffic because the less time your auction has left the higher it places in the
search results of someone that is looking for items similar to yours.
So what is the best time to list? A better question would be, when is the best time
for an auction to close? In general, the best time for an auction to close is in the
evenings and on weekends.
Why? Because that is when most people are home! You want to make sure that
when your auction is closing, everyone that is bidding on it or is interested in
bidding on it is free to do so. What would happen if your auction closes at 9 am
on a Monday morning? Everyone would be either sleeping or going to work and
no one would have the time or energy to place any bids.
The mornings are also the times that the eBay website gets the least visitors
(they are sleeping or working). So even though your auction would be ending and
showing up high on search results; barely anyone would come across it.
You need to make your auction end at the bidder's convenience, in other words
when the bidder is home and surfing the internet...in the evening or weekend.
How important is it to end your auctions when everyone is home and on their
computer? Studies have shown that a listing that ends at peak hours can attract
up to 25% more bids than one that has a poorly timed ending.
This is something you should definitely look into because simply listing your
auctions at certain times is probably the easiest and most effortless ways to
attract more bids and make hire profits.
So if you want to increase your profits, you should have your auctions end at
anywhere from 8 pm 11 pm in the evening or on weekends. In other words:
your auctions should end when everyone is home and has a chance to
place a bid.
There are a few exceptions. For example, some business products sell best
during weekdays and during work hours. This because people are ordering those
type of products from their computers at work.
I highly recommend checking out Andaleâ€™s research tools (www.andale.com).
There is a small monthly fee to use their research utilities, but you wonâ€™t need to
subscribe for more than a month (although it would probably still be worth it).
Thatâ€™s because you can research your products one time before you start selling
them and then youâ€™ll be well informed going into the game. You will be able to
see exactly what the best strategies are for listing time, titles, prices, and other
details for your particular product.
Andaleâ€™s research tools are a valuable resource for getting information.
There is a gold mine on eBay that is often neglected and overlooked, and that
gold mine is repeat customers. A repeat customer is someone that buys from you
more than once and sometimes on a regular basis. Repeat customers can
become true assets to your business and be responsible for a large chunk of
your monthly sales.
A fact is that it is much easier and less expensive to keep an existing customer
than attract a new customer.
If someone that buys from you is extremely happy with the product and the
transaction as a whole they are likely to buy from you again. That is the obvious
way to attract repeat customers, make them happy. This is why good service is
so important (in any business) and making people happy is a major part in
becoming a successful seller on eBay.
You need to make your customers happy, if you don't you will get a ton of
negative feedback and will soon be out of business.
And just by providing people with good service and making them happy you will
earn their trust and respect, some of these people will come back and become
repeat customers. But where will they come back to?
You need to be easy to find, you need a place where your customers can come
back to. That is why you need an eBay store with a .com or .net domain name.
An eBay store gives you a location where your best customers can come visit
you, it makes it easy to find you. All they have to do is type your web address into
their web browser.
But even if you provide great service and make all of your customers happy you
are still missing out on a gold mine. Great service is not always enough to get
customers to come back and buy from you again. If you want to uncover the
goldmine you will need to try a little harder than that.
The reason most sellers miss out on the gold mine of repeat customers is
because they either don't know what a repeat customer is or they rely on their
good service to attract repeat customers. Good service is definitely important in
getting people to come back and buy from you again but it isn't enough. You
can't just let people go and expect them to come back; you need to give them
reasons to come back.
Let me explain why you absolutely need a system to attract repeat customers...
First let's talk about potential customers. Potential customers are people that visit
your listings, eBay store and website. Whoever they are there is the potential for
them to become one of your customers.
That is why your listings, eBay store and website should be designed to draw
them in by gaining their trust, making them comfortable, growing their desire,
giving them a 100% money back guarantee and making it easy for them to pay
for the product they want. That's what all those graphics, photos, clear
descriptions and super listings are for...to make people buy.
Once a person buys and you satisfy them with your superior service, they
become your customer. And that is where the gold mine is located, your
customers. Your customers are more likely to buy from you than any other group
of people out there, your customers have no doubts about buying from you, they
are comfortable with you and they trust you. You don't need to impress them with
flashy graphics or try to gain their trust. They are already impressed and already
Your customers are the most likely people to buy from you, why would you let
them get away!? It is so much easier to sell a product to someone that already
knows you and trusts you than it is to sell a product to a complete stranger. In
your customers you have a group of people that trusts you and has nothing but
memories of pleasant experiences when they hear from you, what group of
people could be better to sell to?
First of all you will need to capture the contact information (eBay ID, email, mail
address, phone # etc.) of every single one of your customers. This will be easy to
do since you will be given that information every time someone buys from you.
Once you get peoples contact information you should store it on your computer.
To actually take advantage of this gold mine and turn you customers into repeat
customers you can't just sit around and expect them to make the choice to
come back themselves. You have to go after them, you have to give them
reasons to come back! That is why you need to store all of your customer's
You need to give all of your customers' reasons to come back! What
kind of reasons? The reasons you give them can be in the form of gifts,
discounts, coupons, free shipping or you can even make them feel like they owe
you another sale!
Reason # 1: after you receive payment from one of your first time buyers, send
them a coupon that will save them money on their next purchase. The coupon
can be sent by email, it doesn't have to be an actual paper coupon. It can be in
the form of a small digital coupon or simply a number that the customer can type
in the next time they buy.
Coupons that will save the customer money with their next purchase are a good
reason to come back and buy from you again. It also gives a good reason for
customer's next purchase to buy from you and not your competition.
Reason # 2: free shipping is also a good reason you can give for your customers
to come back to you. Some people never use coupons, they might think it's
cheap of embarrassing to take out a coupon in from of everyone. So even though
your coupon may be digital they still might not use it.
Free shipping is not a coupon, it's free shipping. Shipping charges are a big pain
in the butt for eBay buyers and it's almost like paying taxes. If you offer free
shipping with the customer's next purchase, it can be a great bonus that the
customer will want to take advantage of.
You don't have to give the customer free express shipping or overnight shipping
which can be extremely expensive. You just have to offer free shipping, it's up to
you if it's fast or slow.
Reason # 3: you are having a special promotion for people that have bought
products from you. The promotion can give discounts, gifts, or special prize if the
customer decides to come back and buy again.
As you can see all you are really offering the customer is savings, savings in
different categories, savings in different ways.
The most important part is not always the reason you give, but how you give it.
Some ways are just more effective than others when trying to persuade the
customer to come back and buy from you again. There are also tricks that make
the customer more open to your offers.
So how is it that you present the reasons for coming back? First of all, letâ€™s look
at what happens when you try and sell something to someone. You are on
offense the prospect is on defense. If you think about it, it's almost like an
You are trying to prove to your prospect that they need what you are selling, and
your prospect is defending them selves from your attacks. It can go on like this
for a long time and the sales person (you) usually loses.
Can you see what's wrong with that? It's almost like a fight, you are on
opposite sides. What happens when a salesman comes to your door? You are
probably against him right from the start, because he isn't envied and all he
wants is your money. That is why it can be hard to sell stuff to people. You go on
offense and the prospect goes on defense, automatically.
There is a simple way to disarm your customers of their defenses, you have
already done part of the disarming when you made them happy with their
product and provided them with excellent service. Now its time to disarm them
completely! Now you must go in for the killâ€¦
Disarming your customers: The key to disarming your customers is to be on
their side, not against them. If you simply send them an email that says "buy
this!" they will automatically play defense. What you need to do is get them to let
their guard down, so you can go in for the sneak attack.
Here are some examples of how you can do this:
1) Send a coupon in a couple of days after the customer receives their product.
Send them a nice email that thanks them for their purchase and asks them how
the like the product. Make sure you ask the something like "are there any
problems with the product?" and "is there anything else we can do to make you
Do NOT offer anything for sale in this email, the only thing you can include that
is related to selling is a discount coupon. Make sure your email is sincere and
you don't try and sell anything in it. You want to sound like a friend or at least a
person who really cares about their customers. Make sure you sign your name
at the bottom, not the company name. People befriend other people, not
2) As a week or two passes after you have sent your customer the first email,
send them another email. This email, this one should say that you have just sent
the customer a small gift that they should receive shortly by mail. Don't say what
the gift is; say it is a surprise and you are sure they will love it.
What is the gift? Something small but thoughtful, something you can buy bulk
from eBay for $0.10 per item. What could that something be? I have seen a box
of small outdoors knives go for about $0.07 per knife, they were in boxes of 100
Can you imagine what a great gift those knives would be if you were selling
outdoors equipment!? All you have to do is do a search on eBay for "wholesale
lot" and you will most probably be able to find the gift you will be sending all of