The Top 5 Ways to Make More Money With Your eBay Business
Some people have decent eBay businesses pulling in good weekly profits and they aren’t interested in making more money. This information is not for those people. For everyone else wants to grow their eBay business bigger and much more profitable, here are some simple things you can put into action immediately that will fatten your wallet and increase profit margins.
1) Building a customer base. You’d be surprised how many of your past customers want more of what you have. It’s not spam and it’s not being annoying. They have trusted you enough to purchase from you the first time, so email them back whenever you get new inventory, whenever you’re having a sale, or whenever you have something unusual or rare in stock. Export your past customers emails from PayPal and import them into an autoresponder to send out emails.
2) eBay’s Publisher Network. Basically you make money by getting people to buy stuff on eBay after clicking your link. Combine with tip 1 for insane results, that’s what this post is all about.
3) Staying on top of pricing. Check your listing prices every week or so to stay on top of what the market is doing and raise or lower your prices accordingly. Successful businesses rely on inventory turnover and you can make more money by selling inventory faster by just lowering your prices a little bit.
4) Clearing out old inventory. Sometimes I hold on to inventory for too long by not budging on my profit margins or lowering pricing. This inventory takes up shelf space, ties up capital, and hinders cash flow. Get it out, get your cash back, and get some new stock.
5) Saving money is just as important as making money. With eBay policies these days, we’ve found ways to cut our listing fees by 60-80% with just a few simple strategies. We used to have multiple listings of the same item for more listing exposure. Now, we get the same sales and exposure by optimizing our listings for eBay’s new ‘Best Match’ search and putting any multiple items in the same listing. We also use the 30 day or good till canceled listing duration. Just by making those few adjustments, in some months we have seen our eBay fee invoices go from over $1500 a month to under $300.