Want To Make More Money With Your eBay Business?
Some people have decent eBay businesses pulling in good weekly profits and they aren’t interested in making more money. This information is not for those people. For everyone else who wants to grow their eBay business bigger and much more profitable, here are some simple things you can put into action immediately that will fatten your wallet and increase profit margins.
1) Building a customer base. You’d be surprised how many of your past customers want more of what you have. It’s not spam and it’s not being annoying. They have trusted you enough to purchase from you the first time, so email them back whenever you get new inventory, whenever you’re having a sale, or whenever you have something unusual or rare in stock. Export your past customers emails from PayPal and import them into an autoresponder to send out emails.
2) The eBay Publisher Network. This is eBay’s affiliate program and you make money when people buy from eBay after clicking your link. If you combine this with the 1st tip, you’re going to see some crazy results.
3) Staying on top of pricing. Check your listing prices every week or so to stay on top of what the market is doing and raise or lower your prices accordingly. Successful businesses rely on inventory turnover and you can make more money by selling inventory faster by just lowering your prices a little bit.
4) Liquidating. Not willing to lower prices or clear out inventory can hurt your business. Stale inventory takes up space on your shelf, hinders cash flow, and ties up capital. Get your money back and purchase some newer inventory.
5) Watching your pennies. With a few simple tricks we have reduced our listing fees by 60-80% because of eBay’s new policies. We can get the same amount of sales by putting many items in one listing and optimizing that listing for ‘Best Match’. We also have found that using 30 day or good till canceled listing durations help in lowering fees. With just those few changes we have lowered our eBay fee invoices from over $1500 to under $300.
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