If all you do on eBay is sell one product over and over again to new customers all the time, you are likely to have to work very hard to make any real money. But there is an easier way …
It’s a marketing fact that it’s easier to sell more products to your existing customers, who you have a relationship with, than it is to sell your product to new customers who you have no relationship with. So, to maximize your income while minimizing your effort on eBay, you should concentrate on a niche market and sell a range of products that are all relevant to that niche market. Here’s how it works …
1. First, find a niche market – a voraciously hungry crowd of highly targeted buyers who desperately WANT (not need) a product. You need a market with relatively high disposable income (don’t waste your time trying to sell products to people who can’t afford them.)
2. Next, locate a line of connected products to fulfil the niche’s wants, ideally with massive profit margins. You need a product LINE. If you only have one product, you won’t have any back-end products to sell (the real profits are in the back-end products).
3. Then offer a very tempting LOW-COST, QUALITY product on eBay that members of the niche will buy to develop customer confidence in your business and your products. Never offer a poor quality product. If you do, no one will buy from you again. The aim of the front-end product is just to get as many customers on to your list as possible. You don’t necessarily need to make a profit on the front-end product if you are confident that you will make high profits on your back-end products.
4. Then offer your first back-end product direct to your customers (not through eBay) within a week of them buying your front-end product on eBay. The back-end product must be closely connected to the front-end product, must represent good quality and value for money, but should be higher priced and so generate higher profit. This is where your real profits are made.
5. Continue to offer higher and higher priced QUALITY products to your growing list of happy, loyal customers. As long as the back-end products continue to offer good value, and you offer good service, they will be happy to continue buying from you. Of course, they won’t all buy every back-end product that you offer.
I cannot over-emphasise the importance of building a RELATIONSHIP with your customers to get a “customer for life”. So NEVER offer a poor quality product or give poor service. Only ever offer HIGH QUALITY products, provide EXCEPTIONAL VALUE FOR MONEY and EXCELLENT SERVICE.
By growing a list of happy customers, you will have a SUSTAINABLE business that is NOT dependent on continually selling new products to new customers on eBay. Your database of customers will acquire a value which can enable you to sell your business eventually should you wish to.
Martyn Boaden is the Author of “The Lazy Way To Wealth On eBay” and Founder of The Online Auction Resource Centre. You will find all the resources that you will ever need to set up and run your SUCCESSFUL and PROFITABLE eBay business, including his very popular FREE 53 Part Course, at =>
http://www.TheOnlineAuctionResourceCentre.com
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