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| eBay & Research - The Most Important Skill Of All ! |
By:
Lawrence Stainbank |
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The Silent Sales Machine Hiding On EBay
So many people are trying to build a web-site and then trying desperately to get traffic to their web-site. Why not simply go to where the traffic is? Go to sites like eBay, craigslist and youtube and tap into the GOLD MINE of traffic there! You don't even need a web-site!
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It's a common myth that trading on the internet is some how different from dealing in the 'bricks and mortar' world. Dealing on eBay is a lot cheaper than having a corner shop but the fundamentals, as far as buying and selling is concerned, haven't changed in thousands of years.
Research has always been and will always be essential. No spice trader ever loaded up his camel and trekked hundreds of miles on the off-chance that when he arrived at his destination someone might be interested in the odd kilo of saffron !
He knew precisely what his customer wanted, how much they wanted and probably what they were willing to pay, before setting off.
Beyond all doubt, the question I am most commonly asked is, 'What shall I sell ?'
Selling is about giving people what they want - not what they need. Many people 'need' a book telling them how to improve their mental arithmetic, what they 'want' is some way to download music more cheaply. If you go the route of advising people what they 'need' then telling them that you have the perfect product, or service, to satisfy that 'need', you will fail.
Never start with the product, start by finding out what people want then find a product that fits the bill. Lots of people want whiter teeth - on eBay you will have no problem finding products that will give you a 'Hollywood' smile.
Apart from just keeping your eyes and ears open these are great ways to find out what's in demand:
TV, radio, newspapers, magazines ( especially the ads ), school kids, students and , of course, the greatest research tool of all time, the internet and particularly eBay. The eBay sites of other countries can be a gold mine when it comes to finding products that
may sell on your home site. I've found that the best situation is to find something that is 'similar' to an item on your home site but different enough to spark a lot of interest. The prices that the 'existing' items are selling for will give you an indication of
what you might expect to get for your 'new' product.
There are at least ten sites that use English - some might surprise you - here they are:
They all begin with www.ebay, then
USA .com
Australia .au
Canada .ca
India .in
Ireland .ie
Malaysia .my
New Zealand .nz
Philippines .ph
Singapore .sg
United Kingdom .co.uk
So what are you looking for ?
Items that are listed again and again, especially in the 'featured' section ( above the grey line ) and 'buy it now' items. You find a seller offering the kind of stuff that you are interested in, possibly a powerseller with a good feedback score ( above 95% ) and find out exactly what they are up to .
HOW ? - this is the best bit,
Go into one of their listings and copy their ID, click on 'advanced search' at the top of the page, click on 'items by seller' at the left, paste the ID into the space provided, tick the box 'include completed listings' and click 'search'. On this page click on 'View Sellers Items' on the right of the screen.
Now you know what they have sold over a given period of time, how many of them they have sold and what they got for them ! If you click on the item number to the left it will take you to the original listing.
Has this level of free global information about any market ever been available before ?
Astonishing, isn't it ?
Armed with this knowledge you can now go about buying a small number of the item you have decide to sell from either a wholesaler or even approach the seller ( if it's not on your own countries site ) to test if it will work.
I will never, usually, buy anything for more than half what I know I can sell it for, with the possible exception of when I am in the research stage. Better to make no money or even loose a little trying out a new line than buy a large quantity only to find that it just isn't a viable product.
More than 50% of items listed on eBay DO NOT SELL - don't let yours join the list, research isn't an option, it is a necessity if you want to make money online.
About the author:
Please click through to http://www.banswithbonus.com/new to find out more about the amazing 'BANS' program and should you decide to make money online from your home by using this proven system, I will give you a copy of my book 'Ebay My Way' with my compliments as well as my free weekly newsletter.Lawrence Stainbank is the C.E.O. of Riverbank Direct Ltd |
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