Top Way eBay Sellers Lose Money!

One area can waste hundreds of dollars for eBay sellers monthly.

This category of spending is something that sellers of all levels make errors in. Can you guess what it is? Is it inventory? Could it storage or travel? No, it’s shipping. That’s right sellers, it is the cost of mailing your packages.

To start, eBay beginner sellers often err by not weighing their items with all the packing materials. Wrapping materials, mailers and or boxes add weight and postage costs. First class shipping in the United States is up to 16 oz. When an item is heavier than that, the costs to the shipper can rise significantly. Here are the current rates as outlined on the Stamps.com blog. So, even when just starting to sell, a shipping scale is an excellent investment. You can purchase a scale that will weigh up to 50 lbs for less than $20. This page has suggestions on two scales.

Experienced entrepreneurs know that shoppers love free shipping.

Internet shoppers love free shipping!

Shoppers love free shipping!

Marketing Land reports a consumer study where shoppers say their top consideration when buying is free shipping. Free shipping attracts shoppers and sales. With that in mind, eBay sellers need to look carefully at their return rates. So for instance, items that have no little to no returns, free shipping is a very wise choice. However, for inventory with a high return rate, sellers to need to take a close look at profits.

When an item is returned, a full refund is expected, that includes the “free shipping”. You can charge a restocking fee. Realize that when you do so, you may lose customers to sellers who do not charge such fees. Look at your competition. Sellers that get a lot of returns, can build the cost of returns into their listing price and continue with free shipping and full refunds. Top Rated sellers can get a 10% Final Value Fee discount if their items meet the criteria for Top Rated Plus. Keep that in mind when selecting how you ship.

There is an alternative that can increase vendor’s profits. Charge for shipping.

Using this practice, when the item comes back, sellers refund the product price only. For sellers that get dozens of returns a month, this is a significant increase in profits. In addition, for heavy products, a shipping calculator offers a choice where the shipping cost is adjusted to the buyer’s location. Customers save money purchasing from vendors closeby.

This video discusses when to use free shipping and when not to.

In closing, always keep an eye on your sales profits. If you get few returns, free shipping is your perfect choice. However, if you sell in categories that get a lot of returns, charging for shipping can put more cash in your pocket.

Test and see what get you the best sales results!

eBay Sellers Read This Before You List!

There is a costly error that both new and experienced eBay sellers make. They grab a pile of inventory and start listing without researching what the items currently sell for. Sellers will glance at what similar items are currently listed for. They overlook checking what the product actually sells for. To start, if a new seller lists an item that is new with tags, they will list using the price tag on the item. If the tag is $80, they list the product for the same price. So, they are thinking that since the tag is $80, the item should sell for $80. What the tag price is and how much money it will sell for are often quite different. Research is key to seller success.

To list without eBay price research costs you money.

Without research you’re guessing on the listing price. Guessing costs you sales. Research can reveal an item is in demand. Therefore, you can price it higher than what you would guess looking at it.  Correct pricing gets your listings sold as quickly as possible for maximum profits. Sellers can use eBay’s Advanced search to check what products sell for. This video explains utilizing eBay’s Advanced search for doing item price research.

Many successful sellers restock items that did well for them. In Sell It On eBay Now I explore this sales plan. Some entrepreneurs sold products six months ago, get more inventory and list without checking what the current selling price is.

Internet prices are like the stock market.

Prices go up and they go down. A few minutes using Advanced Search lets you know what the item will sell for now. If you are selling what looks to be a highly collectible or rare item, then more thorough research is advised. Terapeak is a professional eBay research tool. It has sold data going back three years. Here is my affiliate link for a free trial of Terapeak.

Price your eBay items to sell now!

To sell successfully on eBay, it’s wise to check prices on the worldwide web. FinancialMail speaks to shoppers looking on many websites for prices before they buy. Pricing competitively increases your sales. In closing, research will get your eBay items sold for the best value, in the shortest amount of time. Price research keeps your cash flowing.

A few minutes spent researching prices on eBay and the web pays big dividends. Set a price that attract shoppers wanting to buy!

A Facebook Business Page As An eBay Sales Magnet!

Yes, your Facebook Business page can be an eBay sales magnet.

Sellers make three sales killing mistakes with their Facebook Business pages.

Halt these errors. Then, watch your business page explode, attracting customers!

#1 Mistake Sellers Make On Facebook

Use A Business Page!

To start, many sellers sell from their personal profile and not their business page. A business page is free. It takes minutes to set up. Facebook want businesses to  sell from a business page,  not a personal profile. Actually, it’s against their terms of service to sell from your personal profile. Look here at number four, section four. You don’t want to lose your account. So, take the time now to set up a business page. The instructions to do it are here.

#2 Mistake Sellers Make

Don’t sell non-stop if you want to attract customers.

Sellers sell way too hard on Facebook.

Many seller’s business pages are an endless streams of for sale posts. Who likes to be sold to every minute of every day? To be effective, a Business page needs to offer lots of social content. So, thinking along these lines, food and recipes are very engaging. My popular blog post, Get Likes And Followers On Facebook Immediately shows  how to attract shoppers to your page with food posts.

#3 Mistake Sellers Make

Sellers forget to be social on social media.

It is SOCIAL media not selling media. Facebook’s CEO Mark Zuckerberg has consistently spoken of Facebook’s focus on human relationships. On Jan 11,2018 he reaffirmed this, speaking of what is prioritized in the news feed.  Mark Zuckerberg spoke to helping users find relevant and engaging content. So, translated for sellers, that means, it’s time to talk and listen to your customers. I give you killer tips on doing this in my live stream What’s Going On With Facebook And My Business Page?

In closing, use your Business page to create wonderful social and sales content.

Focus on creating and maintaining relationships and conversations.

The more your business page is social, the more followers you’ll attract. This means that when you post your items for sale, they reach more potential customers. Can you hear the cha chings?

Sell It On eBay Now!

So, it’s January 2018 and the New Year eBay sellers.

What does a seller do now to attract shoppers on eBay?

Here is what to do to make money on eBay right now. First of all, pull out a pen and paper, or your favorite device, and take notes. As outlined in 5 Steps To Move Your Online Business To the Next Level, planning is crucial to sustained success

Look at what sold for you on eBay in November and December of 2017. What were your hot sellers? According to the Washington Post here is a list of some of the most in demand items from Christmas 2017. What were your top sellers? Was it women’s clothing, kid’s toys, sports equipment, housewares or another category?  Where did you buy the products that you are sold out of right now?

Can you get more of the products that are sold out?

Can Your Buy More Of What Sold on eBay?

If the exact item is not be available for you to buy, is there something similar? For instance, the 6 inch brown teddy bears sold out for you on eBay. You cannot buy more from your source. However there are 8 inch bears in the same style available from your supplier. Also, you may have purchased items at a local big box retailer. Now that store is sold out of that hot item. Is there another of the same store within a 30 mile radius that has the item? Another place to check for your product is the big box retailer websites. Wholesale liquidators like BULQ can also be source for in demand items.

Popular items may be sold out locally, but are for sale on the internet.

Sellers often neglect the internet as a source for  purchasing hot selling inventory.

From your research, you know what was popular for you one Bay in November and December. Many of those items will stay in demand. By restocking quickly you can start 2018 off strong!
Here are some more ideas for product sourcing to start 2018 off  with strong sales!

In closing. take notes on what were your popular items from the end of 2017. Plan how to restock them quickly. Don’t overlook using big box retailers locally and online for inventory. List quickly.

Bravo eBay seller, you’re off to a great start for 2018!

5 Tips To Get More Done At The Holidays!

I recently conducted a poll in my Facebook group for eBay sellers, eBay Stores Nothing But eBay Stores. I asked the group members what they need  right now during this busy Holiday time. The number one answer was “more hours in the day” right now.

Here are my top five tips for sellers to get more done during the Holidays.

#1 Get More Done And Set Priorities.

To get more done, set your day around your daily must do tasks.

To get more done each day, look at your to do list.

Prioritize your tasks. Shipping and customer service are daily essential tasks. To get more done, the rest of your day is set around your daily must do tasks. If you have rooms of unlisted inventory, you cannot list all of it in one day. Commit to listing XX per day. List the items that will make you most money first.

For social media, note where you get the most likes and comments. Whatever your  most popular social media site is, whether it’s your Facebook Business Page, Instagram, Twitter or Pinterest, focus there. Here are some quick tips to save time and maximize your social media.

#2 Strategize your time.

 

Make choices that move your eBay business forward.

 

To get more done look at your week. Let’s say you want to list forty items this week. How will you accomplish this?

Grouping tasks works. Set aside a few hours one day a week to photograph your items. Another day, edit your pictures and take measurements for your products. Then starting day three on,  list XX items daily.

Want to post on your Facebook Business Page three times daily?  To save time, use a scheduler like Hootsuite or Buffer. With a scheduler, once or twice a week,  set up your posts for the entire week or month.

Make choices that move your business forward. Something doesn’t get finished? Check your calendar and find a place to fit it in. I have great social media tips for you during the Holidays in my Top 10 Holiday Sales Success For Social Media Tips.

#3 Life will happen.

You plan your day. You’re moving along and then, bam, life happens. A customer situation  takes hours to resolve. A family crisis arises. Your internet connection goes down etc  Quickly look at the absolute MUST DO’s in your day. Do them. Deal with your crisis. Assess what time is left.

Which of your undone tasks is the most important? View your week and see what can be juggled to fit in the undone tasks. If you are a solopreneur with young children or elder care needs, there are daily family situations that occur. Be realistic about what can be done. Ask in Facebook groups for eBay sellers like eBay Selling Basics Nothing But Selling Basics how others deal with running a business with your life situation. The New York Times has some great tips on mastering life’s distractions when they happen in the blog post How To Make The Most Of Your Workday.

#4 Do your best.

Successful sellers set realistic challenges for themselves.

 

Each of us has unique strengths. One seller is super fast at listing, another is amazing on social media. Do your personal best.

If the best you can do is to list three items a day on eBay, good for you! Want to become a faster lister? Analyze your work flow. How can you speed up? Set a timer when you product research. Can you prep your items in less time, so that photographing them goes quicker? Measure products more efficiently, entering the information on an organized spread sheet to use later. Break down each step in your business.  Five minutes saved here and there adds up to thirty minutes to an hour and more in your day.

Applaud yourself for progress you make. Successful sellers set realistic challenges for themselves. You decide where and how you want to grow your eBay business. Assess and plan. Move forward, even if it’s baby steps.  Some sellers never make progress as they over analyze and endlessly discuss every action they take, rather than taking regular steps. Baby steps count!

#5 What Can Be Delegated?

The bottom line for any business is to make money.  You are running a business. If there is no room in your budget to hire workers, use every free tool you can get your hands on. Schedule your social media with Hootsuite and Buffer. Save hours using the complimentary email digest daily of Unroll.Me.

A business can only grow so large without help. Can you enlist family members to work? Can they list, source and or ship? High school kids can be hired to photograph listings. Is there a college nearby that has an intern program you can utilize?  Look at your profit margins. Find ways to increase them. Buy items in bulk.  Stop buying certain items as the marketplace price has dropped. Change the way you package an item saving on shipping weight and postage but still wrapping securely.

With as little as $8 -$10 a hour you can hire off shore virtual assistant helpers to do social media scheduling, inventory research, graphics and more for your business. This is my affiliate link for FreeeUpFreeeUp is a marketplace where you can hire off shore and US based virtual assistants. Consider what that a few dollars a week buys you.  More free time for you means you can list, source and ship more, generating more cash!

To get more hours in the day, and get more done, it’s essential to prioritize your tasks.

Life throws you curves daily. Think through your work flow. Discover ways to streamline your essential tasks.  An improved work flow saves you precious time and money.  As you grow, utilize local help and or a marketplace like FreeeUp to hire professional workers for your business.

There are never enough hours in the day for the busy eBay seller. Adhere to the priorities you choose this Holiday season. Maximize your workflow and paycheck.

A planned selling strategy is the road for more profit and hours in the day.

What would you do with more money and time?

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