How to make cash with Online Auctions

Using online auctions to make money? If you are like me, it can almost escape your mind that these auction sites are a business. I happen to know that it’s not just me. I have friends who love the Ebay community. They love selling items and shopping at home online. One press of a button and you have a UPS delivery at your door. This process of rewarding yourself with discount auction items can feel addictive & fun, but hard to see as a business. Even though this is true we can’t lose focus. Our goal as entrepreneurs is to make a profit for our time invested. 

In internet marketing, individuals come in with sites they are passionate about, but they haven’t done due diligence with their site’s topic selection and with keyword research. That’s when you have to explain to them that the second word of the industry they chose to embark into is “Marketing”.

Paying attention before hand as to what merchandise, topic, or keywords already have a buying market is very important. It’s more important than one might think. Here’s an example for you to get my point across. After reading my example you’ll see the logic behind perfect ebay product selection.

Example: Location is a Yankees baseball game. You can either open the hotdog stand and sell hotdogs to the crowd or you can open a sushi bar. If you open the sushi bar at the game you have to educate the market. You have to convince them that this new product is what they want. You’ll have to persuade them to try it. With your sushi bar “passion” business, you could very easily run out of money just trying to push free fish down their unwilling throats. And after a few moments of this you start to realize the point of my example.

My point is you should see what they are already lining up for. Then choose where you want to enter the market.

With Ebay it is easy to see what your customers are searching for. You can also see the most popular ebay items searched or bought in the past. To see this data Ebay has provided it for you at http://pulse.ebay.com

The completed auctions link on the site can also loosely be used for a peep at item popularity, but is best used as a way to see what price the customers are willing to pay. This price range can vary for reasons like condition of item, the addition of accessories, or free shipping to name a few.

 

 

Tags: auctions, Business Online, ebay, product creation, seo

This entry was posted on Wednesday, May 4th, 2011 at 1:45 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.