| |
Ebay pricing strategy
By William Mok
Strategy #1
If you are listing a popular item that you are confident will sell for a high price, one strategy you can use is the ten-day, one cent starting price, no reserve auction. This is the best way to start a bidding war: pull in bidders early with a low starting price and no reserve and give them ten days and two weekends to battle it out.
Depending on the profit-margin of the item and the quality and number of your competitors, you may want to consider using listing upgrades, such as bold, highlight, and feature listing options to ensure your auction sticks out of the crowd.
Please note that I do not recommend this strategy for beginners. This is extremely high risk if you do not know how to take the risk out of it - and this is not something I can teach you. You must determine this by assessing your own personal inventory with tests.
Strategy #2
Now, if you are new to Ebay or want to list an item with undetermined popularity, you can use a safer, but potentially as profitable bidding strategy for ten-day auctions.
You still wont use a reserve with this strategy. But instead of setting the start price low to encourage a bidding war, you are going to set your start price to your ideal selling price - and then couple it with a buy it now price that is slightly higher.
This will put pressure on the buyer to buy it now instead of watching. If she waits, she gains absolutely nothing--and she risks someone else bidding (and ruining the low BIN price) or just snatching it with the BIN option.
In addition, knowing that she will lose nothing anyway, she will realize that she can get the item up to ten days sooner if she uses the BIN option to order it then, rather than waiting for the auction clock to tick down.
The strategy I described above is very safe. I use it for the majority of my auctions and I always get positive results. At worst, it will take me 3-4 weeks to sell an item, but I wont ever lose money. I just adjust the price to compensate for additional fees.
Strategy #3
Another effective way to use a ten-day setting is in conjunction with dutch auctions--or auctions that sell a number of the same item. Ten-day auctions will give you the longest amount of time to move the highest amount of products.
You may also want to feature ten-day dutch auctions, depending on what items you are selling. If you're selling information products and rely on the quantity of sales for profit, this wont be effective; but if you're selling a number of expensive, high profit-margin items, featuring your auction is probably a good idea.
About the Author
William Mok is one of the internet marketing company CEO and he is a successful internet marketer.To receive more internet marketing tips and free e-book , please visit www.marketonair.com
Article Source: http://www.simplysearch4it.com/article/27075.html
| If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/27075.html" as shown above and make it hyperlinked. |
| Some other articles by William Mok | Google AdSense tips to earn money
Google AdSense Tip #1: Find your keywords
Before serving ads on a web page, check its keyword density. A free and advanced tool for finding the most prominent keywords in a page can be found here: ...
|
|
| |
|
|
|
