We all want to make more money and increase our eBay profits, and you need to be aware of not only what can generate more revenue, but what can save money; as I like to say, money saved is money earned.
Here are some useful ideas for you:
#1 – Upsell ‘Extras’
Charge for anything you can think of. Give buyers the option of paying extra for gift wrapping, or cross-sell related or compatible items in a bundle.
#2 – Use a Cheaper Courier
Find a cheap courier that saves you money and time. In the UK, I used Parcel2Go, which meant much lower costs for posting items, and I didn’t have to wait in a queue to post them. Had I known about this earlier, this could have saved me thousands.
#3 – Reduce the Volume/Weight
Is there a way you could make your packages smaller or lighter? They’ll be cheaper to post. If you import FCL & LCL shipments like I have, volume affects the cost of sea freight more than the weight.
#4 – Close Auctions at a Profitable Time
I closed my auctions on Sunday evenings as this was when most people were active on eBay and gave them enough time to bid.
#5 – Offer Discounts
Incentivise your audience to buy more by offering quantity discounts. You will sell more products and make more money on aggregate. Prospects often asked me for discounts if they bought a few items, and I was more than happy to oblige.
#6 – Sell Internationally
I mentioned in a previous email that listing internationally will generate more traffic, but it will obviously generate more sales. It’s worth the extra fee.
#7 – Build an Email List
There’s more money than you think in an email list. Put your customers’ email addresses in a list, and send them pre-written, automated emails that deliver value and upsells.
#8 – Create more Value!
Can you enhance your product with something that will deliver more value? You could choose to charge extra for these. As I sold game consoles, I included media on them, like games, cartoons and music from the public domain. Sales skyrocketed, customers were satisfied and this is what made my eBay business most profitable.
Additionally, a critical success factor is making your listings as efficient as possible, otherwise it’s costing you in lost sales. See my previous email or read my free cheat sheet for details.
Thanks for Reading
I hope this gives you some good ideas! Stay ahead of your competitors and get those eBay listings more profitable.
As an eBay seller, you might want to get a copy of the Free Listing Template or Free eBay Cheat Sheet to discover other tips to improve your eBay store.
If you’ve found these ideas helpful, consider sharing them so that others can benefit from them too.
Cheers! Good Luck!
Nick
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