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Now we discuss yet another way to make money online. Remember
that these "ways" of making money online can be combined
into a single venture. For example a content website might also
be using e-commerce to sell their own products/services as well
as participate in affiliate programs.
First, a few of the auctions / classifieds sites you should consider:
eBay.com
Yahoo.com
Bid.com
Msn Classifieds
Craig's List.
So.. how can you make money using auction / classifieds type
selling? Just like any other way with alot of research, work and
dertermination. Auction-type selling will require more hands-on
work and constant research as you are in a condensed and highly
competive market place (if we take ebay for example).
For the sake of this article, we will limit ourselves to usinig
drop shippers as product
sourcing strategy for your auction selling.
This will require alot of research. If you think of joining a
dropshipper like NoMinimum
look up the latest popular item that is selling like crazy, get
it a cheper price than it's selling on ebay (it's
wholesale so the price has to be cheap otherwise it's a scam right?
Yeah.. sure... if you think that.. I suggest you do alot of reasearch
or quit this business type altogheter right now) and start
selling and making money while you sleep... think again!
Chances are if this item is popular and selling like crazy, there
is also CRAZY competition and it's unlikely you'll be able to
purchase one item at a time from a dropshipping
company get the item cheaper than everyone else on ebay (including
the sellers purhasing items in extremely large quantities directly
from the suppliers) and make money with this item. If you think
that, you are dreaming in color. If it would be that simple, everyone
would be rich.
Drop shipping for auction selling
is a great idea, however, if you're not prepared to do the research
required, forget it.
What you will need to do instead is research the products available
at these wholesale drop shippers
and find product niches where there isn't too much competition
yet there is a demand.
With many drop shippers
carrying thousands of item (NoMinimum has over 12,000 at the time
of writting this article)... there are such niches and alot of
them but you have to find them, they will not magicaly come to
you or will someone tell you what they are... it takes work.
So you've done the work and research and have great products
to list. What can you do the increase your chance of selling and
maximize your profit potential. Here are a few tips to using
drop shippers in your auction and ebay selling.
First, know that price isn't everything. Presentation, communication,
customer service and reputation play a huge factor in motivating
a buyer to purchase from you instead of your competition.
-Answer emails quickly and in a professional, courteous and friendly
manner.
-Present your items well... think about creating a template for
your auctions and a logo for your ebay ID... this will project
professionalism.
-Add to the default description. Simply copying+pasting item description
that you have obtain from the dropshipper
is not enough... do some research online on the item in question,
visit the manufacturer's website and add to the description.
-Combine more than one item togheter. This is trick far too many
ignore. People want to save on shipping and best of all... want
to save time.
If you're selling a digital camera for example... why not try
and make a package... sell the camera, a compatible tripod, rechargeable
batteries, a battery charger, a memory card, etc. You can experiment
by making big and small packages and sellign the items separetely
to see which works best.
Things to watch for when using drop
shippers for ebay or other auction sites.
-Make sure the drop shipper has a good number of stock on hand
before listing the item. For example, I would list something for
7 days when the drop shippers only has 3 in stock... that's a
strategy that can lead to frustration, lost sales, unhappy customers
and negative feedback.
-Check often for changes to the item and stock item, most wholesalers
offer email updates of their inventory change, check these for
changes affecting your listings.
So there you go, yet another way to make money online. Now it's
up to you to do the proper research and put in the proper amount
of work to make your new venture profitable.
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