How to Become an eBay PowerSeller Faster than You Ever Imagined and Start Making Extra Cash Every Month
Dear Entrepreneur:
eBay is still a great business opportunity for start-up entrepreneurs!
eBay’s 400 million daily page views and 80 million active registered users leaves even the savviest of entrepreneurs speechless!
On top of that, the cost of an eBay business is still incredibly low!
I’ve been doing business on eBay since the first year they were live in 1995. In my first year I netted about $2,000….which for most people is “chicken feed”.
But it only took a few hours to earn it! That’s the key.
I only played around with eBay in the beginning. Today, I make a heck of a lot more.
In addition, I’ve also been advising eBay Powersellers since 2004…so I understand how this thing works.
Here’s the deal……
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eBay is a Targeted Traffic Monster!
The amount of people ready to buy products flowing through eBay everyday is absolutely incredible.
Granted, recent traffic numbers indicate a slowdown in traffic probably due to the recession. But compared to other shopping and auction sites eBay is still the “big boy” in town.
And get this:
- eBay has more than 80 million registered users worldwide.
- eBay received more than 76 million visitors in January 2010
- The total GMV (gross merchandise volume) in 2009 was more than $60 billion!
- eBay users trade more than $2,400 worth of goods every second.
- There are approximately 100 million listings on eBay at any given time. About 6 million listings are added every day.
- Fixed-price formats (non-auction items) accounted for about 40 percent of total GMV in 2009.
- eBay hosts about 450,000 online stores worldwide.
- According to a June 2009 survey conducted by ACNielsen International Research, approximately 50 million sellers around the world who use eBay as their primary or secondary source of income.
- eBay members have left more than 7 billion feedback comments for one another regarding their eBay transactions.
- The most expensive item ever sold on eBay was a private business jet for $4.9 million.
- eBay had $3.6 billion in cash and cash equivalents on balance sheet at the close of Q1 2010!
Granted, eBay is best known for its auctions.
But eBay receives a boatload of non-auction traffic too.
eBay now encompasses dozens of portals, sites, and communities you’ve probably heard of such as Shopping.com, PayPal, Skype, AfterBuy, StumbleUpon, Alexa, StubHub, Half.com, Rent.com, eBay Classifieds and ProStores.com.
I’m going to show you how to start your eBay business (or jumpstart it if you already have one) and start making some extra cash each month.
What’s more, I’ll reveal some things about the new eBay PowerSeller Program.
Look…..one of the reasons eBay works for millions of people is because it’s “self-policing” community.
This isn’t some “new age geek speak” either…..self policing actually works!
If you conduct yourself like a professional, with honor and respect for others, the eBay community can lift your business to new heights (and profit). People will start posting positive things about you when you conduct yourself as a professional.
However, if you take advantage of people, refuse money back guarantees, the eBay community will eat like a swarm of bloodthirsty piranhas! eBay PowerSellers are exemplary members who maintain a 98% positive feedback rating from their buyers. That’s a very good thing.
If you have a high positive feedback rating, people are more apt to do business with you.
eBay PowerSellers also have outstanding sales performance records, which means they sell consistently every month. (It’s easy to do if you follow the rules and values of the site, and listen to me!)
But praise from satisfied customers is not the only advantage to being a PowerSeller. eBay offers other rewards to its best merchants too. PowerSellers are reimbursed for some of their advertising.
You heard right!
eBay PowerSellers also receive priority technical support and a monthly insiders e-mail newsletter, as well as access to exclusive message boards.
PowerSellers can also use the “eBay PowerSeller” logo, which gives them instant credibility with prospective customers.
It’s simple….. Credibility is a BIG DEAL when you’re selling on the Internet.
In fact, it’s the lifeblood of any Internet business.
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The most important thing you need to know about being an eBay PowerSeller is the program is designed to help you make money!
If you make money, eBay makes money. The PowerSeller program provides incredible tools to help you make money and succeed.
For example, PowerSeller Tools helps you create professional listings and automate the selling process.
I love automation when it comes to running a business!
Automation is one of the greatest features of doing business on eBay. The automation tools enable you to automatically post your best-selling products without missing a single day or customer.
eBay also recently launched a new tool called eBay Picture Manager, which helps you present your products in the best possible way.
eBay Stores is another great feature. Most PowerSellers swear by it. With this feature, you can offer your products and services on eBay to people who just want to “Buy It Now!” without putting them in an auction.
How to Become an eBay PowerSeller Fast!
To become an eBay PowerSeller you need to open an account. It takes about 20 minutes, and it’s FREE.
After signing up, you’ll be directed to the site’s Selling Overview.
This is very important information. My advice is to actually study the overview.
I’ve learned more about eBay in one week by mastering the Selling Overview than people who had been selling on eBay for years.
So study this information carefully.
If you can master the Selling Overview, you’ll be considered an eBay expert in most circles.
You could also sell your eBay expertise as a consultant! After the Selling Overview, you’ll be directed to Selling Basics and a Self-Paced Tutorial.
This probably sounds like kids stuff. But this info will help you become a major player on eBay.
Okay.
Now let’s put this information to work. Let’s say you’re into antiques (a hot area on eBay).
One of my good friends built a profitable antiques business with eBay. He uses the entire Internet, including Google to sell antiques but confesses eBay is his “24 hour workhorse”.
Let’s say you enjoy New England style furniture from the 1700’s. A quick search on eBay always shows hundreds of auctions for antique and “antique-style” New England tables and chairs. One recent auction featured a “Baker Inlaid Banded Round Cocktail Drum Table.”
Personally…..I wouldn’t know the difference between this and a fold out card table!
But if you’re into antiques – and many people are – this description tells you a lot.
Anyway, there were more than 24 people bidding on this item. Three hours before the auction was scheduled to end, the high bid on that table was $475.
If you can find antique tables like this in your community (bricks and mortar stores, garage or estate sales, or even on the side of the road in some cases) for a couple of hundred dollars (or less) then you can easily resell it on eBay for a profit.
This is just one of the ways people are getting rich on eBay.
Replicas are also a hot commodity on eBay. I found a Woodland Dining Table antique replica (modeled after a similar table built in the 1800’s) for $1,000.
If you have access to antique replicas like this Woodland Dining Table, and you’re able to negotiate deep discounted prices for them, you could sell them on eBay for big money.
Let’s say you’re able to find a source for Woodland Dining Table antique replicas for $300 and sell them on eBay for $800 – you would have $500 profit!
Just think about it. If you sold just two tables a week you would make more than $52,000 a year! Granted, you’ll need to subtract the eBay listings fees and shipping, but that’s a small cost of doing business. But at least you don’t have to wait for people to walk into your bricks and mortar antique store on Main Street.
“How Do I Find the Hottest Products Selling on eBay?”
The best way find the hottest products on eBay is by monitoring the site’s front page, as well as the discussion and community message boards.
You can also check out eBay Pulse. eBay Pulse is one of the most powerful tools for eBay PowerSellers. It’s a daily snapshot of current trends, hot products, cool stuff and popular searches. For example, this morning one of the most popular searches in the antiques area was civil war relics and furniture.
You can use eBay Pulse to build a power demand-driven business!
Insider Tips for Becoming a Top eBay PowerSeller:
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- Only handle and focus on products with a strong demand.
- Encourage feedback from your buyers. This will to boost your positive rating in hours rather than months or years.
- Promote your own online store in the top search engines with keyword advertisements and/or with organic traffic. It’s crucial to optimize your online store website so it’s “Google friendly” and so it appears prominently in the top search engine results.
- Write better copy than your competitors for your eBay products. It may sound surprising, but many sellers don’t focus a lot on sales copy. If you put some effort into this you’ll see immediate results. You can retain a freelance copywriter with eBay expertise if writing is not your “thing”.
And here are some of the red-hot products on eBay this month. These items have received tens of thousands of bids:
- Silver
- Antique linens
- Audio books
- Handbags
- Coins
- Historical memorabilia
- Vintage computer products
- Plasma TVs
- Laptop computers
- Weight-loss products
- Tax software
- iPods Nano
- Golf equipment
- Memorabilia
- Classic comic books
- Rolex watches
- Foreclosed property
- NCAA tickets
- Diamond rings
- Teeth-whitening kits
One of the best ways to “jumpstart” your eBay business is to add some of these “red-hot items” to the products in which you already specialize.
This simple “tweak” will drive traffic to your listings and eBay store, which will increase the amount of money you can make.
“Yeah…But Does eBay Advertising Really Work?”
A powerful ad campaign is hard on a limited budget. But you need to promote your products. And there’s an easy, simple, and cheap solution.
eBay now offers a service called eBay Keywords, also known as Terapeak.
eBay Keywords enables you to tie product promotions to specific keyword searches.
How to Leverage eBay Keywords Quickly and Easily
Whenever someone enters a search term in eBay’s search box, a banner advertisement, and/or text links are featured above the search results in the header of the page. These ads can be linked to specific auctions, eBay store listings, or anywhere else you want people to go.
The banner ads and/or text links are ranked according to the Seller’s bid for a particular keyword.
For example, the higher the bid for a particular keyword, the more times the ad will be displayed in rotation with other ads.
The best part of eBay keywords is you only pay for these advertisements when a user “clicks” on them. You may find some of the keywords you want to advertise have already been selected, or the maximum bid is too high.
In my opinion, 50 cents per click is a reasonable bid, but $4 per click is pricey. But it’s all relevant. If you’re selling a $2,000 product then $4 per click won’t kill you.
In other words, if you’re selling high-end items like artwork, automobiles, real estate, rare books, precious metals, gems, or boats, then higher click thru rates are fine.
The key to success with eBay keywords is selecting the right keywords.
You can select the right keywords by understanding what your customer wants and by using a descriptive keyword phrase that will motivate customers to buy from you.
I think Wordtrackeris great resource for choosing the right eBay keywords.
eBay keyword ads work. PowerSellers wouldn’t keep running them if they didn’t. I recommend if you’re going to advertise your products, don’t be cute.
Simply observe successful keyword ads (the ones you see repeated over and over) and apply the same techniques to your eBay keyword ads.
There’s plenty to learn about doing business on eBay.
But the eBay PowerSeller program is a great way for start-up entrepreneurs to make extra money each month with limited capital and expertise.
And don’t ignore the awesome power of Google, Yahoo! and Bing when it comes to promoting your eBay auctions and stores.
You can purchase inexpensive keywords on these engines, or optimize your eBay store website so it appears prominently in the search results.
You can also advertise on shopping comparison websites like NexTag, PriceGrabber and Shopping.com!
Would you like a less expensive alternative to advertising on Google, Yahoo!, Bing and the other “Big Boys”?
My favorite “under the radar” PPC networks are 7Search, ABCSearch, AdBrite, SearchFeed, LookSmart and MIVA.
Your humble host,
Marc Charles
*****Action Strategy *****
Review eBay Pulse to find the hottest products right now. Choose the most appealing products you would enjoy selling.
Check out Terapeak! They provide high-level, in-depth eBay research, information, statistics and much, much more.
Keep an eye on products you could obtain at deep discounts. There are thousands of resources on the web for locating products at deep discounts.
You can sell all kinds of high profit margin products on eBay – including digital products like ebooks!
One of the greatest sources for obtaining low-cost products for sale on eBay is Alibaba.com.
One eBay PowerSeller I’m familiar with specializes in designer and replica sunglasses.
He purchases sunglasses at a deep discount from overseas manufacturers. He offers them on eBay and in his eBay Store at 400-500% percent markups!
But the key is to only focus on high demand items only. These are the products which are already moving on eBay.
Open an eBay account today (if you don’t already have one) and post something for sale within the next 24 hours.
You’ll be hooked after the first sale!
****** Valuable Resources ******
Growth Strategies and Other Advanced Selling Services on eBay
eBay University Classroom Instruction CD
Pick Up Items at Deep Discounts!
Hot Value Add Services
Vendio (discover the secrets of successful pricing and selling – awesome service!)
blackthornePRO (top of the line eBay business too!)
Channel Advisor (helps you sell on multiple channels)
Hot New Books on eBay PowerSelling
Moonlighting on the Internet – Yanik Silver
eBay Income – Cheryl Russell
Titanium eBay – Skip McGrath
eBay for Dummies – Marsha Collier
