Monday, July 25, 2005

Selling Pressure On eBay

No news flash here. Selling on eBay is not as easy as it used to be.

You’re getting pressure from large businesses that figured out that this is a great selling channel – that’s creating competition. You’ve got people cleaning out their garages and low-balling everything (new and used). You’ve got folks hooking up with manufacturers in China and sourcing their own products (Alibaba.com) – with really tough to beat costs.

I went to eBay Live in June, and all everybody could talk about was sourcing. As if that was some kind of magic bullet. It’s not. Someone will always undersell you. Just like someone’s always going to have a better, bigger house than yours. The key to profits is connecting with dreams, selling benefits, and offering solid promises. When someone searches on eBay, they get hundreds (if not thousands) of search results. There’s going to be someone cheaper there. How are you going to stand out?

Presentation is the key. If you have a two salesmen and a $500,000 airplane – one of those guys is going to sell it based on how he presents the product, and, of course how he listens to his customer.

That's how people are making money on eBay. Sure, they're buying product at low prices (everyone's got their secrets to sourcing). But they make the real dough by using persuasion, connecting with needs, and knowing their market. Read more about how to do this right in The 7 Essential Steps to Successful eBay Marketing.

Note: I was on the radio this weekend. Let me know if you heard it. It was a show that's syndicated across the country called Business of Success with Alan Rothman. It was my first time, so I think I was a bit overprepared (with too much that I wanted to talk about). The result was a bit scattered. I was trying to go down certain paths but often didn't have enough time to finish certain thoughts. Fun though. I was really pumped up afterwards.

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