Today I
want to suggest the best way possible to virtually guarantee you'll always make
money online, both on and outside of eBay, and it's all down to keeping four
steps in mind for every product you sell.
Those
four steps are:
1. Find a market comprising people with a problem
or need. Basically the bigger the
problem, the greater the need, the more money you are likely to make.
But
there is one other important thing to consider here, namely one of finding
people with money to spend and money they are willing to spend to solve their
problem or satisfy their need. If
members of your target audience have money but they don't want to spend it on
your product, you're onto a loser right from the get go.
Similarly
if people have a big problem or a passionate need and no money to spend on
whatever product you find to benefit them.
2. Find
a product to solve the problem or satisfy the need. The more you can ask for
the product and the less you have to pay to acquire it, the more money you are
going to make. The product can be exclusive to your business or it might be
something a good number of other people are selling.
Also
important, you should look for products that not only solve the problem or
satisfy the need of many people within your target market, but which also have
repeat or back end selling potential where people return regularly to buy from you.
3. Design a contact point, called a 'landing
page', where potential customers congregate and which directs them to buy the
product right away or sign up to a mailing list. On eBay this landing page is your listing and
it can be an auction listing or a classified advertisement, a Buy It Now or
fixed price listing.
4. Drive
traffic - namely people with a problem or need - to your landing page. On eBay you do this by using keywords in
titles and descriptions that people will actually use to find your product, and
you also need to create very clear illustrations to make sure people open your
listing rather than move on to sellers with better product images.
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