Four steps to Internet Marketing wealth
PLUS: How to make a full-time living selling the same product as hundreds of other people on eBay
Today I want to suggest the best way possible to virtually guarantee you’ll always make money online, both on and outside of eBay…
It’s all down to keeping four steps in mind for every product you sell…
Four steps to Internet Marketing wealth
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: find 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, you’re onto another loser.
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 ensuring people return regularly to buy from you.
3. Design a contact point – or ‘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.
How to make a full-time living selling the same product as hundreds of other people on eBay
‘Sell the same product as hundreds of other people on eBay’? Have I gone insane? Isn’t that just a little bit like flooding your own market? And doesn’t it also mean sharing sales and profits with longer-established traders with more money to spend and more experience of selling specific high-demand products on eBay?
Well, yes, it could mean that; or not as the case might be, depending on what you do next, and how hard you work to differentiate your offers from people selling similar items on eBay.
The following tips explain how you might achieve this objective if you were selling wigs and hair extensions…
- Sell the same product in much the same way as your (currently more experienced) counterpart. This can be a good idea, sometimes, because too much variation between listings might mean yours lacks some essential feature that generated another seller’s high profits.
But you should avoid copying other people’s listings too closely or you risk being charged with breach of copyright, or even finding yourself expelled from eBay.
However, there’s no copyright on ideas, such as what to charge for a product or how many illustrations to use in one listing – although using the exact same illustration or more than a few words of similar text from another person’s listing, except as provided by manufacturers for resellers, is definitely wrong.
So you could adopt much the same ideas, but use different illustrations and words to convey a similar message in your own listings.
You never know, you might even improve on other people’s listings and could grab a huge chunk of those other sellers’ markets for yourself.
- Make your presentation different, but not so different that your listing bears no resemblance at all to other people’s successful listings for similar products. The best way to differentiate your own from other people’s listings is to emulate other people’s listings as closely as possible without breaking the law, and to incorporate some reason for people to buy from you in preference to purchasing from those other people.
There are several ways to do this, such as:
- Offer a free bonus to accompany your wigs and extensions; preferably a unique item with high perceived value, such as a hair ornament made to your own exclusive design, or a pocket mirror decorated with the buyer’s initials.
- Offer faster delivery than other sellers, some of whom might ship from China and other low-cost manufacturing countries, meaning delivery can take several weeks. So you could import products or source them from domestic markets, store them in your attic or spare bedroom, and post within 24 hours of being paid.
Moving on with are main list…
- Keep a close eye on average number of sales each week, product cost and other overheads, then look for ways to cut costs, such as by purchasing product and packaging materials cheaper in bulk and passing savings to buyers. This ultimately means undercutting rivals and increasing your own customer base.
Now you can see why this whole exercise is actually quite easy: wigs and hair extensions are just two of millions of products you can research and turn into regular, best-selling, high-profit products for your eBay business.