Let me share with you the 5 different ways to use eBay to make money.
1. Traditional Method
2. eBay cross-promotional method
3. Website upsell
4. Cross-promote website
5. Lead generation
Today we will look at the "Traditional Method"
The Traditional Method of making money on eBay is just like it sounds. It is using eBay exactly as eBay inteded. You list an item and you sell it. There is not a lot to this method.
The advantages of using this method are;
1. It is extrememly simple. If you can type you can create an auction listing.
2. It is cost effective. - Depending on the category you can list your item for sale for as little as $.25
3. You tend to get fast-results. My own personal testing shows that the closer to the auction end date the more sales you will make. So within a few days of your auction being up you can start making sales. I have actually listed items and within minutes made a sale! So your results can be almost immediate.
4. Flexible. - You can change your auction listing very easily. If you are not getting a lot of action to your auction listing you can quickly and easily change your listing around to attract more customers.
5. If you list it they will come. You do not need to do any other promotional efforts. Unlike a website where you need to make people aware of it, on eBay there are 32,000 categories and people are visiting the categories that they are most interested in. With a website you have to promote it and even optomize it so that people can find your site. On eBay people are searching, scouring, and hunting the nooks and crannies looking for a deal.
There are some disadvantages to the Traditional Method as well.
1. Unless you know a couple of secrets (that we will get into very soon) you are making a one time only sale. With the Traditional Method you sell the customer once and they are gone forever. That is fine but selling a customer that already knows, likes, and trusts you is a lot easier than going out each and every time and getting new ones!
2. There tends to be a lot of competition in some categories.
Now don't get me wrong, competition can be good but it can also mean that if you don't have the most compelling offer that you will lose sales to those competitors. -There are ways to neutralize the competition that we will talk about in a later edition.
3. People searching on eBay are looking for a deal and one of the biggest complaints is that you can't make any money. This can be true - but doesn't have to be. Again we will go over more of this later one.
4. Unlike a regular website where you create it once and just leave it alone, with eBay every few days you have to re-list your item.
5. Also if you happen to be selling and Information Product like an eBook or Audio eBook eBay does not automatically deliver your auction for you. This has to be done manually. One great solution to this problem is "Automatic Digital Delivery on eBay."
More info here: http://tinyurl.com/77k8o
If you are not currently selling on eBay get your feet wet. Open an account and start selling your product. You need to get to know how eBay works. You also need to open a Paypal account so that you can accept credit cards.
Start today by getting use to the ins and outs of just selling products in the Traditional Method. Soon enough we will get into the more advanced, but you do need to understand the basics. And there is no better way to do this than by getting your feet wet and just doing it!
Until next time! To your success!
Todd Reese
"The eBay Traffic Controller"
http://tinyurl.com/77k8o
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