What If You Could Quadruple Your eBay Revenue Practically Overnight?
by Scott Memmott
I am going to explain a little known method that can skyrocket your eBay sales. This approach is so simple. But, only a few eBay marketers employ it, in spite of the fact that it takes so little effort. So, what is this insider strategy?
Backend Sales!
Let me share with you an example of a tactic I came up with. I found out there were several eBay marketers who were dealing in enormous lots of greeting cards. Unbelievably, when I first looked into it, there was a lot of 1,000 greeting cards available, with just 2 days to go in the auction. Guess what the highest bid was?
$1.00!
Can you believe it? The winning bid went a bit higher, but not by much. When the auction closed, the winning bidder ended up with 1,000 greeting cards for under a penny each.
There are several eBay marketers that routinely market lots of twenty-five greeting cards at five dollars or more. What kind of a profit could you generate if you acquired 1,000 greeting cards for $1.00 and then went back and sold them for five dollars per batch of twenty-five greeting cards? Two hundred dollars, which is a 20,000% return on your money! Pretty darn good.
By the way, there are bargains comparable to that all the time on eBay. You can discover many of them by performing some basic eBay market research.
But, this article is not about uncovering low priced items on eBay and reselling them at a profit. That will be the subject of a future article. So now, back to backend sales (no pun intended).
These huge lots of greeting cards become available for sale on eBay all the time. So, I decided to use them as a backend sale product. Here’s what I did.
I bought an enormous lot of greeting cards at around $0.02 each. I then put together an order form to market the greeting cards for $0.20 each (you can always increase the price later). Every time I shipped something I sold on one of my online auctions, I simply tucked in a sample greeting card & envelope in addition to an order form.
When my buyer (winning bidder) got their purchase, they were surprised and happy to discover that I had enclosed a complimentary greeting card that they might be able to use (nice little bonus). And, they saw that they could purchase more high-quality greeting cards, at just $0.20 each, in batches of twenty-five. Since most greeting cards usually go for two to three dollars each, that represented a discount of greater than 90%. That’s a pretty impressive deal.
The beauty of this method is that anybody that ever buys something from me can become a life-time customer. They might buy greeting cards from me for a long time to come. My initial “one-time” sale to my customer could become a life-time profit stream, as they reorder greeting cards over and over.
You can use the same strategy. The only thing you have to accomplish is source a consumable product that people buy, use up and buy again. Buy the item on eBay for cents on the dollar, or through a reliable wholesale source. Make up an order form that you can enclose sales. Then, kick back and let the money roll in. Very cool!
Don’t forget, your backend products don’t have to be greeting cards. That is just an instance of something I happened to observe. You may discover other great consumable products that are a more relevant fit for the kind of items you usually auction on eBay. What you really want is to find products that people will purchase again and again.
To summarize, backend sales is just the act of selling more items to customers who recently bought something from you. The best time to follow up with a potential life-time buyer is when they are already pleased with a recent purchase and they are in the “buying mood.”
Don’t forget, the perfect backend product must be consumable. When you get a new customer, you want to offer him another product that he will need to reorder from you whenever he uses up his supply. This will create lifetime customers that can be the basis for a never ending revenue stream for you.
Scott Douglas is the developer of Auction Autopilot, where you can pick up a Free eBay Secrets Insider Report that will reveal to you how to sell on eBay and make more profit, with less effort. Get it now at: ===> http://www.AuctionAutopilot.com
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