How to Make Money on eBay

by Josh Biggs in Business, Finance, Tips on 29th October 2019

eBay has over 171 million active users since the end of 2018, and it continues to be one of the top online platforms for selling products. Although it’s behind Walmart and Amazon in terms of visits per month, eBay should be one of your top options for moving product.

Dropshipping is a great way to make cash quick (within the week) and with eBays new app which brings in an audience of 31.7 per cent in the US alone you’ll have endless customers. Use these steps to start dropshipping on eBay today.

1. Sign up with an e-wallet

E-wallets are an easy way to transfer funds from your bank account to an online wallet. PayPal is the most popular one out of any other option, and eBay buyers prefer using this method. You can filter buyers who will accept PayPal as payment.

2. Competitive pricing

Have a bottom line with your products, but also make sure to price competitively by checking what other sellers sell their products for. On eBay, there is a “lowest price” and “highest price” tag, with the top results getting the most attention.

3. Free shipping

Everyone likes free things, and free shipping is no different. Offering free shipping on all of your products will make them more attractive to buyers. eBay encourages this by having a “free shipping” button on their website as a filter. If you’re worried about your profit margin, bundle in the shipping cost with the price of the item.

4. Great descriptions and titles

Take your time with this, because you want your item to be searchable not just on eBay, but on Google as well. Add as many relevant words as possible to your search, and avoid fluff that wouldn’t be searched for. Use websites like Google AdWords to see what related keywords match your product. This is often overlooked when people think about how to sell on eBay, but it’s important for the look of your store. 

5. Top-rated sellers make more

Being a top-rated seller will allow you to stand out among your competitors, as they are recognized as being consistent with customer service and returns. Trusting sellers one eBay is tricky because of the anonymous nature, but with this seal of approval, more customers will buy your products.

6. Start small

Growing your business over time means low returns, but it also means more time to increase your knowledge of how eBay works. You can start by selling items in your homes, by purchasing items at yard sales, or even Craigslist. Look for freebies that will sell quick.

7. Have a great profile before selling

Silly usernames won’t make customers trust you. It’s best to have something that fits your brand, or something more generic. Start as a buyer first so you can get positive reviews from other sellers as well as a history.

8. High-Quality Photos

You’ll want your customers to see your product before selling, and the more angles your item has the more trust your customers will have for you. It will also lead to fewer disappointments and fewer returns, which will make your products more likely to be featured.

9. Proof of Postage

Scammers exist on every platform, so avoiding problems before they occur will keep you and your rating safe. Get proof of postage for every sale that you make and keep them on hand. This could save your store against closure if you need to challenge the dispute.

10. Manage your expectations

Don’t expect your business to take off from the get-go, even if you’re sure it will work out for you. There is still a lot of commitment to dropshipping, and every step requires careful planning to stay in the game.

Categories: Business Finance Tips