It is possible to run a successful eBay business if you have the right strategies in place
eBay is a great platform for entrepreneurs, but it’s not all plain sailing. The biggest problem with eBay is that it is heavily weighted towards the buyer, so sellers often feel as if they are being penalized for trying to run a successful ebay business. However, with the right strategies in place, it is possible to make eBay work for you. It’s also a useful learning experience for when you take your business to the next level and open an e-commerce store.
It is possible to run a successful eBay business if you have the right strategies in place.Click To TweetChoose the Right Niche
You can sell virtually anything on eBay, but some categories are more popular than others. For example, there are thousands of sellers offering cheap iPhone cases, but not so many that sell antique lamps. The best way to make money is to sell items people are searching for, but not in a category where competition is too high. Many categories are awash with Chinese sellers offloading stock at rock bottom prices, so it’s difficult to compete on price. Instead, look at niche products where there is a demand, but not so many sellers.
Pricing Goods
Pricing is critical. You need to make a profit, so it’s important to buy your stock at a price low enough to allow for a decent profit margin. As a small seller, you won’t have much buying power, but in time you should be able to forge relationships with wholesalers and suppliers. In the meantime, accept that your profit margins will be low and concentrate on providing a better customer service than your rivals.
Customer Service Matters
Customer service is very important on a platform like eBay. Buyers have the opportunity to leave feedback on their purchase, so if they are not happy, they will give you a negative rating. eBay watches buyer feedback and if you receive too much negative feedback, your account will be blocked.
Always respond to buyer questions and deal with problems quickly. Remember, customers are the foundation of your business, so if they are unhappy, you won’t have a business for much longer.
Organize Your Inventory
Once you start selling several different product lines, it becomes harder to keep track of inventory. It’s no good listing products if you don’t have the items in stock. If a customer buys an item and you can’t supply it, you will receive a defect on your seller account. The more defects you have, the more damaging it is.
Be as organized as possible. Store inventory in plastic boxes or on open shelving to make it easy to find. Use a Dymo XTL label maker to create labels for stock and run stock checks regularly. Give each item in your inventory a unique code. This makes it easier to track stock levels so you can reorder items before they run out.
Minimize Delivery Issues
Always track items above a set value when sent via post or courier, to minimize the chances of an order going missing or the customer claiming it never arrived.
eBay is a great selling platform for mompreneurs, but it’s important to treat it as a business. Use an eBay business as an opportunity to build a brand and before long, you can open your own e-commerce store!
