What if You Could Triple Your Ebay Income Practically Overnight?
I am going to tell you about a little known method that can double your eBay profits. This strategy is so simple. However, only a handful of eBay marketers use it, in spite of the fact that it takes so little effort. So, what is this insider strategyrarely used income generating?
Backend Sales!
Allow me to give you an example of a technique I used. I noticed there were some eBay marketers that were dealing in enormous lots of greeting cards. In fact, when I first looked into it, there was a batch of 1,000 cards for sale, with only two days to go in the auction. Guess what the high bid was?
One Dollar!
Can you believe it? The winning bid ended up a bit higher, but not by much. In the end, the winning bidder was able to buy 1,000 greeting cards for less than a penny per card.
There are several eBay marketers that commonly market lots of twenty-five greeting cards for .00 and up. What kind of a profit could you make if you bought one thousand cards for .00 and then turned around and sold them all for .00 per batch of twenty-five cards? Two hundred dollars, which is a 20,000% profit! Not bad.
By the way, there are deals like that all the time on eBay. You can discover a lot of them by conducting some basic eBay market research.
But, this article is not about uncovering low priced items on eBay and reselling them for a profit. That will be a topic for a future article. So now, back to backend sales (no pun intended). 🙂
These large lots of greeting cards come up for auction on eBay regularly. So, I decided to use them as a backend sale item. Here’s my strategy.
I bought a large batch of cards for about .02 per card. I then made up an order form to market the cards for .20 a piece (you can always raise the price later). Every time I sent an item I sold on one of my auctions, I just included a sample greeting card & envelope in addition to an order form.
When my buyer (winning bidder) received purchase, they were surprised and pleased to find that I had enclosed a free greeting card that they might be able to use (nice little gift). In addition, they were able to see that they could purchase more excellent cards, for only .20 a piece, in lots of twenty-five. Since most cards usually retail for two to three dollars per card, that represented a savings of greater than 90%. That’s a pretty impressive deal.
The neat thing about this strategy is that anyone that ever purchases anything from me can become a life-time customer. They may purchase cards from me for many years. My initial “one-time” sale to them could turn into a life-time profit stream, as they reorder greeting cards over and over.
You can do the exact same thing. All you have to accomplish is source a consumable item that people purchase, use up and purchase again. Purchase it on eBay for pennies on the dollar, or from a quality discount product source. Set up an order form that you can enclose sales. Then, sit back and watch the money roll in. Very cool!
Remember, your backend products do not have to be greeting cards. That is just an illustration of something I happened to observe. You might discover other terrific consumable products that are a better fit for the kind of items you typically sell on eBay. What you want is to find products that people will buy from you over and over again.
To summarize, backend sales is nothing more than the process of selling more products to buyers who recently bought an item from you. The best time to approach a prospective life-time buyer is when they are already pleased with a purchase and they are in the “buying mood.”
Remember, the perfect backend product must be consumable. Once you get a new customer, you will want to offer him something that he will need to reorder from you whenever he runs out of his supply. This will create life-time buyers that can be the source of a perpetual revenue stream for you.
Scott Douglas is the owner and developer of Auction Autopilot, where you can receive a free eBay Insider Report that will reveal to you what sells on eBay. Get it now at: ===> http://www.AuctionAutopilot.com
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