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21
Success Strategies of eBay Powersellers
by
David Espino
The online auction giant -
eBay - has exploded on the Internet scene. Currently boasting over 29
Million members, eBay is one of the most visible and far-reaching Internet
companies in existence, with a large segment of the population either using
the service, or at the very least, aware of it. Among the eBay sellers,
there is a designation given to approximately 4% of the people. These are
eBay's "Powersellers", a group of sellers that is distinguished by the
amount of volume they produce. The entry-level Powerseller, the Bronze
level, does at least $2,000 a month in eBay sales, maintains a 99% positive
feedback level and maintains their eBay account current. Higher award levels
are granted at the $10,000 level (Silver level) and at the $25,000 level.
(Gold level)
What are some of the strategies and techniques that these eBay Powersellers
use?
As someone who achieved Powerseller status a little over two years ago and
continues to study other powersellers, I've compiled a listing of the 21
Success Strategies of eBay Powersellers.
Powersellers are serious - Powersellers treat their eBay business just like
they would any other business. They are dead-serious about it. Look at any
eBay Powerseller operation and you'll find organized systems and
"assembly-line" techniques being used. While a Powerseller may not have
invested thousands of dollars into her operation, she treats it as if she
has.
Powersellers are focused - An eBay Powerseller is focused on listing,
packing and shipping, often on different days of the week. Their focus is as
intense as that of a Corporate Executive or an Olympic athlete, because they
are juggling various activities at the same time.
Powersellers are organized - The Powerseller is organized, otherwise they
wouldn't make it to the level of Powerseller. Since Powersellers do a huge
volume of listing, packing and shipping each month, they must develop
processes to ensure that the items sold are delivered within a reasonable
period of time and that customer satisfaction is always at the forefront.
Powersellers delegate - Powersellers delegate because they have to! Their
volume dictates that they hire an assistant to do some of the more
repetitive tasks that don't require the Powerseller's attention. This way
the Powerseller can focus on the important money-making tasks of product
acquisition and marketing.
Powersellers use assembly line techniques - The Powerseller has developed
smooth running systems to make sure that product fulfillment is accomplished
as quickly and efficiently as possible. This may involve setting up a large
4' by 8' table with bubblewrap and packing materials at one end, products in
the middle, and boxes, labels and packing tape at the far end.
Powersellers use Dutch auctions - Many Powersellers have graduated from
selling one-of-a-kind knick-knacks found at yard sales and are now selling a
volume of the same item through Dutch auctions. In a Dutch auction, a seller
can place a large number of the same item up for sale. The bidders can bid
on one or more of the item, but the highest bidders will be first in line to
actually get or "win" the products they bid on. So there is a possibility
that if someone bid too low, they might not get a product. A Powerseller
uses Dutch auctions often because it is a huge time-saver. This is a true
"assembly line" auction from start to finish. The packing and shipping goes
a lot faster when the same item is being packed and shipped over and over
again.
Powersellers do efficient work - Another trait of the eBay Powerseller is
that they are extremely efficient, knowing that time is money. A Dutch
auction is a great example of this efficiency. In the same period of time
that it takes to list one item, you are listing dozens, or even hundreds of
items! This time-efficiency is a powerful way to leverage your time and
profits.
Powersellers "Bulk List" their auctions - Bulk listing your auctions using a
bulk listing software or auction management service will dramatically
organize your time and allow your eBay operation to run a lot more smoothly.
There are various options in this area, from eBay's own "Mister Lister" to
Blackthorne software to Andale, and Auction Watch auction management
services, there are a lot of options for you to look into. These services
allow you to list your auctions at your leisure and then schedule them to go
live on a certain day and time. This saves you the hassle of having to list
your auctions on the particular day that you want them to go up.
Powersellers use clearly focused photos - Powersellers have acquired their
status by using clear photos or scans of the items they are selling and
making sure that the photos show all flaws. In effect, along with all of the
other skills they have acquired, they have also become semi-pro
photographers! Many have built a "mini-studio" with optimum lighting and
background, that is available at their beck and call for those quick shots
when they need to e-mail an additional photo to a bidder. The Powerseller
usually has both a Digital Camera for photographing 3-dimensional items and
large items and also has a scanner for the paper items and flat items.
Powersellers use headlines with key words and no fluff - An eBay Powerseller
resists the temptation to use "fluff" words like "L@@K", "WOW" and "MUST
SEE". Instead, the Powerseller uses descriptive words in the headline,
realizing that the headline is the "ad for the ad". A Powerseller is also
"search engine savvy", realizing that keywords in the headline are picked up
by the eBay search engine. They are sure to load the headline with
descriptive, key words that help the bidder determine if the item is what
they are looking for and keeps out the "fluff".
Powersellers write thorough and detailed item descriptions - A Powerseller
has achieved their level by maintaining a high ratio of positive feedback.
This is primarily accomplished by having clear and accurate descriptions of
the items so that the bidder can clearly "imagine" the item as if it were
sitting in front of her. The art of writing a great item description
involves an interesting mix of using "selling words" (such as "beautiful",
"fantastic", "intricately designed", "gorgeous", "spectacular", "powerful",
"colorful", etc.) along with describing the flaws in the item. A great
description should entice the bidder to bid while at the same time providing
full and complete disclosure of the item's condition. Your test of whether
you have a great description or not is if it answers the following two
questions well:
-
If I
were to compare the description to the item, while holding the item in my
hand, would it be an extremely accurate description? or would I have good
reason to return the item?
-
Does this description
entice me to place a bid on the item?
Powersellers give "Benefit
of the doubt" customer service - Customer service is such a cliched
catchphrase in American Business today. In the eBay auction world, it is
mandatory that you implement a very meticulous level of customer service.
Powersellers have a clear reflection of their level of customer service in
their feedback profile. One glance at any eBay seller's feedback profile and
you have an instant snapshot of that individual's customer service rating.
(Imagine if regular "brick and mortar" stores had a feedback rating posted
at the front door!) This public feedback rating is both your best
advertisement (if you provide great customer service) and can also be your
downfall. (if you don't) A Powerseller is constantly aware of this "sign at
the front door" and places a high priority on giving stellar customer
service. I call it "Benefit of the doubt" customer service because even in
those instances where the customer is clearly wrong, the Powerseller doesn't
argue or get into an emotional "war of words", she simply refunds the money
or reduces the shipping cost or sends an unexpected gift with the package.
The eBay Powerseller realizes that business and ego don't mix, they leave
their ego on the table - they go on to build lifetime customer
relationships.
Powersellers have their own websites - A Powerseller realizes that business
conditions change. On the Internet, business conditions can change literally
from quarter to quarter! Because of the transient and high-speed nature of
change in the Internet business, the Powerseller realizes the value of
having their own storefront on the Web. They have either built a website
themselves or have had someone build a site for them. They have developed a
following and a customer base through their eBay auctions that can help
sustain them even if dramatic changes come about on their main selling
venue. As eBay continues to evolve and change - applying restrictive and
invasive policies - this will become more of a priority for all eBay
sellers, not just Powersellers.
Powersellers make it easy for bidders to pay - By offering a variety of
payment options, Powersellers make it easy for winning bidders to pay for
their items. They offer to accept Checks, Money Orders, all types of credit
and debit cards through PayPal, Billpoint, or their own Merchant Accounts.
By offering a wide variety of payment options, they open up their market of
available bidders and end up with higher ending bids as a result.
Powersellers offer discounts on multiple items - Whether it is a discount on
shipping multiple items or a discount on the actual price of multiple items,
Powersellers realize the value of a good customer and treat that customer
special. Unexpected discounts tell the customer, "You're special" and build
a reciprocity that keeps customers coming back or searching the
Powersellers' auctions.
Powersellers are always on the lookout for great deals - The eBay
Powerseller is the consummate "deal-maker". Whether it's at an antique store
or at a swap meet, the Powerseller is always thinking about things they can
re-sell. They find that pop-culture collectible and buy it. List it the same
day and see the bid amount grow and grow. Part of the thrill of selling on
eBay is "taking a shot" and listing items that you are not familiar with.
Seeing the items shoot up in price is a fun and enjoyable hobby!
Powersellers do not mind making money! - A Powerseller has no "issues" with
making money. Many Americans have been brought up with the notion that the
only "respectable way" of making money is by working at a job for thirty
years. Sales and selling is looked down upon. The Powerseller is way beyond
that. They have a healthy attitude towards making money and it becomes like
a "hobby" to them! As new and strange as it may appear to the more
traditional types, selling on eBay is one of the easiest and most lucrative
ways to make a part-time income. The alternatives to selling on eBay are
either too time consuming or too unrealistic. This "new" way of earning an
income is powerful and realistic.
Powersellers enjoy their work-at-home lifestyle - eBay Powersellers love the
fact that they get to work from home while the rest of America sits on the
freeway, waiting for their fellow "worker-bees" to move. The freedom of
having a Home Based Business is something the Powerseller relishes and
appreciates. This enjoyment of the lifestyle has many tangible benefits -
better health, freedom of time, being able to spend more quality time with
kids, attending their school functions and field trips, better scheduling of
time (around the rush hours) and an overall feeling of well-being. There is
no doubt, working from home is the wave of the future.
Powersellers are willing to invest in their business - Whether it means
investing in a high-speed cable modem or DSL connection, high-quality
computer components, including digital cameras, monitors, keyboards, etc. or
whether it means buying a "Featured Auction" listing which will drive
further traffic to their other auctions, the Powerseller knows how to use
their money wisely. There is a difference between wasting money and
investing money in your business. An eBay Powerseller knows when to "invest"
money into their business. Basically, anything that saves you time or saves
you money is an investment in your business. As an example: A digital camera
is a huge time-saver over taking traditional 35 mm photos and then scanning
them.
If you go the scanner route, here are the steps you must take:
Buy film. (this takes
driving time and money)
Shoot the photos.
Get the film developed. (this takes driving time, waiting time and money)
Inspect the photos for clarity and re-shoot, if necessary. (this takes
additional time and additional money)
Scan the photos (additional time)
Crop and edit the images
Upload the images to your web host
The same actions using a
digital camera are much more efficient:
Shoot the photos. (film
purchase not necessary)
Inspect the photos for clarity and immediately re-shoot. (no additional
cost)
Crop and edit the images.
Upload the images to web host.
The investment in a digital
camera is one of the best ways to become a more efficient eBay seller! I
paid a little over $700 for my digital camera about two years ago, it was
the best time and money-savings investment I've made!
Powersellers stay up-to-date on auction trends and changes - Because
Powersellers take their business seriously, they constantly keep themselves
up to date on the latest industry trends and changes. They do this by buying
books about online auctions, participating in eBay Message Boards / Forums,
and staying tuned to the eBay Announcements Board. They don't want to be
caught off guard with a new change or new policy that might affect their
business.
Powersellers are always looking for better ways to do things - Whether it's
listing auctions, packing and shipping, getting organized, or expanding
their business, eBay Powersellers are always looking to improve their online
business. This is the nature of all successful business people, they want to
improve their business constantly.
As the 4% of eBay sellers known as Powersellers continue to improve their
processes, here's hoping that the above strategies will be helpful reminders
in improving yours!
About the Author:
David Espino is the Author of Beyond eBay and Life In The Dot Com Lane.
Copyright David Espino
If you have any interesting stories or tips
about buying or selling at online auctions please e-mail us at
CBHcontact@gmail.com. |
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