Improve picture quality. Get a good camera, and pay attention to technique and composition when you take the photos. Don’t just throw them on your bed and take photos. If you’re not sure of yourself when it comes to photography, an empty, lightly coloured table against a white or nearly-white wall is always a good place to put things when you take photos of them. Another good way to get more people to respond to your auctions is to find the best price points, including starting prices, Buy it Now prices and shipping. The next email will give you a few pricing strategies.
eBay Auction Pricing Strategies.If your items aren’t selling, then you might have a bad pricing strategy. There as many pricing strategies in the world as there are buyers – if you look at two businesses selling the same thing, often the only difference you’ll be able to find between them is pricing.
The ‘Few Dollars More’ Strategy.Here’s something you might not have thought of. If you set your auction’s starting price to what you would usually charge for Buy it Now, while setting the Buy it Now price a few dollars above, you can make a profit by setting off an interesting psychological reaction in the buyer’s mind.
Here’s what they’ll think. They want the item, but why should they bother bidding for it? After all, they could use Buy it Now for just a few dollars more, and be sure of getting it! Doing things this way makes the value of the Buy it Now option extra clear to the buyer, and makes them more willing to pay extra for the privilege.
The ‘One Dollar Less’ Strategy.This is simple, but requires you to keep an eagle eye on your competition. As soon as they start a Buy it Now auction for an item you stock, start an auction for one of those items yourself. Match the title closely, but price your item one dollar less than theirs. This will mean that your auctions will sit together in the search results, and who’s going to see both and go for the one that’s a dollar more expensive?
The ‘Free Shipping’ Strategy.Buyers really hate paying for shipping. With Buy it Now, you might find it easier to incorporate the shipping cost into the main price of the item, and then write “free shipping” in the auction’s title. You’d be surprised how many buyers would prefer to pay one price including shipping for the auction, instead of having shipping added on at the checkout. Again, this is psychological: they pay the same at the end, but it doesn’t feel like they’ve paid an unnecessary ‘extra’ cost for Internet shopping.
The ‘Go for It’ Strategy.If you’d like a slightly more risky strategy, try this. List your item for the maximum duration (ten days), starting the listing on a Thursday so it goes across two weekends and finishes on a Sunday. Set the starting price to the minimum (one cent).
What you’re trying to do here is give bidders as long as possible to discover your auction, so that they push the price up themselves. Pay for a few upgrades like bold and highlight, to give them a helping hand. If you do this right, you can make a much bigger profit than you would have with any Buy it Now price, especially with a medium or high value item.
Since running your auction for longer means that more people see it, you should always take the longest duration of ten days, right? Not always. In the next email, we’ll talk about how long your eBay auction should run for.
How Long Should your eBay Auction Run?When it comes to durations, you have a wide range of choices: your auction can run for 10, 7, 5 or 3 days, or even only one day if you have a good enough feedback rating.
There’s a reason why you get to choose your duration, and that’s because different durations are good for different things. To decide how long you should list your items for, all you need to do is ask yourself a few questions.
Do you want to sell things quickly? If you’d rather sell now than in a few days, even if it means losing a little of your profit, then go ahead and choose the shortest duration you can get. If you’re the more patient type, on the other hand, you might as well sell slowly.
How much is your item worth? Items with a higher price are worth re-listing every 3 days or so using Buy it Now. The fees aren’t that big as a percentage of the item’s cost, and you’ll sell more when you’re constantly higher up in the search results.
Could your item benefit from competitive bidding? Not every item is going to make bidders get excited and try to outbid each other. If you have items that consistently attract more than five bidders, though, you should always list then for as long as possible, to get the best price you can. People will be quite happy to follow your auction for days, bidding the price higher and higher as they go.
What did the seller getting the best price do? Go back to that completed items display, and take a look at which durations the top seller uses the most often. The chances are that what they’re doing works.
Can you ship quickly? You might find that customers get frustrated if they have to wait for over a week for your auction to end, only to have to wait some more for the item to actually turn up. If you’re running auctions with the longest duration, try to have the thing packed and ready to go for posting the day it ends.
Is there a rush on? If it’s the holiday period, or there’s a sudden surge in demand for your particular item, then don’t list items for as long as you would usually. It’s in your interest to have a quick turnover, then you should be listing for the minimum of one day.
How visible do you want to be? You might have noticed that most of the effects caused by varying item durations are basically caused by the fact that, by default, eBay sorts search results so that items ending sooner appear first. Since it’s the default, this is the view most people use – meaning that items ending sooner get viewed much more.
If you’d like a few more tips about increasing your auction’s visibility on eBay, make sure to check out the next email. See you there!How to Increase Your Auction’s Visibility on eBay.
Once you’ve optimised your titles for search terms and your items have short durations to get them near the top of the results, there’s really only one sure-fire way to make your auction stand out from the crowd. Unfortunately, it involves paying eBay more money – but it can really pay off, especially for higher-priced items.
In this email, I’ll take you through the various ‘listing upgrades’ eBay offer, how much they cost, and whether they’re any good. Remember that if you want any of these, you can just tick their box while you’re going through the process of listing your item. The charges will be added to the other fees you’re charged for the listing.
Gallery. The most basic of upgrades, this will show your photo on the search results page as well as inside on the item’s description page. This is always worth having. Cost: 35c.Subtitle. If you add a subtitle, you get a little more space to fit in any extra information that you couldn’t squeeze into the title. Use this if you’re selling a relatively technical item that just has too many good features to fit into that 55-letter title space. Cost: 50c.
Bold. This will put your auction’s title in bold on search results pages. Not especially noticeable, but might make your auction stand out a little. Cost: $1.Border. Choose this option to put your listing inside a coloured box on results pages, making it look a bit special. Cost: $3.