Archive for May, 2011

Honesty, Your Best Policy

May 20th, 2011

There is nothing worse than ordering something online and then receiving it and it’s not at all what you expected.As a seller, a customer that is disappointing in their purchase can cost you more  than just poor eBay feedback. In a world more closely connected than ever before thanks to social media, it could mean your reputation.

Take a look at this United Airlines Example: This recording artist, if not obvious in the video had his expensive Taylor Guitar broken by united airlines. He then filed a claim and repeatedly confronted several indifferent United Airlines employees. In his anger and after being told they would not compensate him for his loss he published this video on YouTube.

According to Wikepedia, “It amassed 150,000 views within one day, prompting United to contact Carroll saying it hoped to right the wrong.[5] The video garnered over half a million hits by July 9,[7] 5 million by mid-August 2009,[4] and 10 million by February 2011. The Times newspaper reported[14] that within 4 days of the video being posted online, United Airline’s stock price fell 10%, costing stockholders about $180 million in value.”

You never know the impact or influence of one customer these days. So, being honest and owning up to mistakes is your best policy.

In fact, “People are finding honest companies veritably refreshing and therefor are becoming more expectant of the truth and truthful behavior.Society is actually enjoy the gaiety of honest communication – Brutally honest people are now being celebrated instead of shunned and this is in turn changing everything.”

 

You’ll see the change in advertising. A good example of this is the Miracle Whip. Instead of puffing up a claim that miracle whip is better than mayonnaise, which is purely a matter of opinion, they embraced the “polarizing affect” it has on customers and turned it into a successful ad campaign.                          Get an idea of what the miracle whip campaign is about.

Ask any online entrepreneur or long-time eBay seller. If there is a problem with an item, you’re way better off to be honest about it from the beginning. Or if you mess up and ship something late, inform the customer and they’re more likely to be understanding than if you keep them waiting without information.

 

Selling Online Misconceptions

May 13th, 2011

monkeys around a computer

True or False, the more experience you have buying online the better you’ll understand the buying process and what you as a customer expect.

False. You are not the customer, so there are customer expectations you can’t understand.  Several markers warn that assuming you know what your customers want is dangerous. Having a little research behind you is always a good thing. Now, going through the buying process can count as some research, but realize that not everyone shares your dislikes or likes, or even the same expectations.

True or False, convenience is the only reason people shop online.

False.Market research about online shoppers teaches us the Three C’s of Online Shopping.

  • Choice
  • Cost
  • Convenience

Almost any reason a shopper shops online will center around these three reasons. So are these options your business can make a priority to your customers? If you can’t offer a lot of choices, you should make up for it with cost, convenience, or I would even add exclusivity. If they can’t get the product anywhere else, that will help make up for their lack of choices–especially if your brand has enough value.

True or False, you can sell anything online.

True. Pretty much. What you can profit on however, that’s a whole different story entirely. Practial E-commerce reccomends writing down good ideas you see around you. They suggest, “. . . carrying a product sourcing notebook, be it a PDA or hand-held notebook, to keep track of your ideas as they come. She warns, “Ninety percent of ideas that you don’t write down will get lost. When you’re at these idea hotspots, if you see a hundred ideas for products to sell, you won’t be able to remember those. You’ve got to write them down in your product sourcing notebook and then go back and start researching them.”

True or False, anyone can be successful selling online.

False. I’ve done a lot of research on selling online. I’ve read success stories and failures and had a few failures myself. Anyone can attempt to sell online, but not anyone can be successful. It takes hard work, a good product, marketing strategy, and determination to succeed.While, I have not yet had a lot of success selling online, I’m still just beginning to learn how to do so, and I don’t think it’s time to give up yet. Consider taking the self-test below before you decide to sell online.

  1. Am I willing to invest the time and money needed?
    If you think you can just put up a site, submit to the search engines and the money will start rolling in, think again. You need to examine what your needs are, and how you will attract new customers. Find out how others have done it, seek advice, and learn from the mistakes others have made. Also, be sure and read everything you can find about e-commerce because its methods change and improve constantly. Some advice from a pro: “Unless you are a very good do-it-yourselfer, you may want to consider outsourcing. Creating a professional site is much harder than it was two to three years ago,” said Dr. Ralph F. Wilson, founder of Wilson Internet Services, a Web site design and consulting company. Building and maintaining a web site is not just a one-shot deal. You have to keep updating the site and refreshing the content regularly—outsourcing can help here. But, if you choose to outsource, keep in mind it can be costly.
  2. Am I organized?
    Do you have the time to run your site or do you need help? Who will take the orders and update it? And, are you equipped to handle large-volume sales? Advice: “Make sure it [your company's site] is organized to handle your capacity and that it’s streamlined,” recommends John Masiz, president of MediVet Pharmaceuticals, a company which sells pet healthcare products.
  3. Do I have compelling and relevant content?
    Even if you are able to attract potential customers to your site initially, how do you get them to come back? One way to do it is to keep your site fresh and offer a little more perspective on your product or a related topic than your competitors. For example: The “hook” for MediVet is getting customers actively involved in the healthcare of their pets. Pet owners can actually identify simple medical problems and find solutions by using the site. “We have probably the most complete source of emergency medical information for dogs and cats—in one area—on the Web,” said Masiz.
  4. Do I have a means of distribution and customer service?
    How are you going to get your products to the potential national or international customer quickly? “With e-commerce, you will get inquiries and make sales all over the United States,” said Clark. “So, it is best if your business sells a product that can be easily shipped.” And, don’t forget about customer service, it is as important or more important to have strong customer service support on the Web customer issues.
  5. Getting a virtual URL
    Be sure you get your own identity. It is much easier for customers to remember yourcompany.com versus hosting company/directory/anyname.com. And, you’ll have more control over your site. “If an ISP goes out of business or changes rates, you’re stuck . . . you’re at their mercy,” said Wilson, who added that if you have your own identity “you are free to move around without disruption.”
  6. Get an email account
    E-mail is a good way for you to build relationships with your customers. Not only is it a means for them to contact you, but you can let them know about specials and sales on your site. “Prospective customers will inquire about your product via email,” said Clark. “A response to each inquiry within 24 hours is recommended.”
  7. Are you able to offer payment options?
    One of “selling points” for the Internet is immediacy. People want to be able to order and get your product quickly. That means you may want to think about a secure way of accepting credit cards, or perhaps offering a toll-free telephone number.

This quiz is from score.org.

How to Sell on eBay:Listing Tips

May 11th, 2011

ebay street sign

A listing is a chance to get your eBay item noticed. You’re listing is what will get your product found on eBay, so make sure it is descriptive, complete, and uses keywords that people would type in to find your product.

EBay allows up to 55 characters in the title. Try and use every character. You will want to make sure you use broad enough terms that people can find your product. You may even want to put it under an even broader term if you think it will help someone to stumble across it while looking for something else.

Include in your listings the item name, color, size, style or model number,  and a good keyword in your listing. The more descriptive the better. I know I as a customer on eBay I’m often looking for something specific I’ve had a hard time finding elsewhere. So I love it when I can find the exact product or size I need on Ebay. Help me find your product by including a great product description.

One of  the best ways to check to see if your listing is descriptive enough is to look at other product descriptions within your category. What descriptive words did others use? You can compare what descriptions and titles helped an item to sell by typing in a product, selecting the “show only” option and then the “completed” listing option. This will give you an idea about what helps an item sell.

Happy Selling!

EBay Scams

May 9th, 2011

It makes me sick to hear about so many scams happening throughout PayPal and eBay. I found a great blog in which several commenters talked about their scam experiences. I would highly recommend reading a few. But I’d also like  to reiterate and add to the ways this blog said that you can identify  a scam.

1.Look at the e-mail or website the mail is coming from, does it end in paypal.com or is it hosted on a free e-mail provider?A legitimate business usually has it’s own domain, meaning an address that ends in eBay.com or PayPal.com

2. Christopher also mentioned that PayPal generally addresses your e-mails with your first and last name or business name. Though this is not guarantee it’s PayPal.

3. Paypal will never direct you to a random site to fix your login information. The site should be an official PayPal page. Look to see if the page is copyrighted at the bottom and is a fully operational site before you put in any information.

Shelley, a customer who was scammed provided more steps, adding:

4.Take care with buyers that use a stock photo for the product they’re selling.This may mean they don’t really have the item.

5.Beware of high shipping prices. Dealing with someone from over-seas can be challenging.

6.Beware if they only provide an e-mail as their sole form of contact.

7.Watch out if  they threaten you early on to pay quickly or they’ll report you to eBay.

Top help further protect yourself,

Use a separate bank account for all of your eBay transactions.

Familiarize yourself with Paypal’s rules and protection policies.

Collect the entire payment of your sale before you ship the product.

Don’t depend solely on customer feedback, it can be manipulated.

Avoid instant money transfers by paying with a credit card.

Don’t let shipping costs turn a good deal into a rip off.

Trust you instincts. You can’t be too careful, if a site asks for personal information and you don’t feel good about it, either don’t enter your info or contact PayPal and make sure an offer is legitimate before you pay.

For a few more fraud tips check out this eBay fraud tips page.

 

How to Sell on eBay:Should I use the reserve price option?

May 6th, 2011

an auctioneer While everyone has their opinion on this subject, I really liked what seller h3caboose said about the reserve price option.

” Pros

  • Setting a reserve on a auction gives you the option to not sell your item unless it meets your reserve price.
  • Reserve price can be altered even after you have received bids.
  • Even if your reserve price is not met you can still send a second chance offer.
  • If your item sells your reserve fee is refunded.

Cons

  • Setting a reserve requires an additional fee which is refunded only if your item sells.
  • It discourages bidders many buyers will not even bid on a auction that has a reserve.

Reserves are generally not a good idea because people will not bid on your item especially when other options are available.  The only time I recommend setting a reserve on an auction is if your item is unique or one of a kind.  If a buyer wants it they will have no other option but your auction therefore the reserve price can protect your investment in case bidding does not go high enough.”

I agree. Although you as the buyer know what something is worth to you. If you can’t part with an item for under a certain amount, consider starting the bid at that price. It’s always a good idea to make sure your costs are covered, but just be aware it may inhibit some deal seekers that like to start with low offers. Decide what your product is worth to you and go from there. If it is a one of a kind item that you know will go for more, start higher, if not start low to encourage bidders.

 

 

Small Changes

May 4th, 2011

a small sproutIf you’ve done what you’ve always done, you’ll get the results you’ve always gotten. Could small changes be just what your online business needs to grow? Maybe.

Well, most business owners already have an idea of what they should change within their company or online store. But, I’d like to put in my two cents in about experiments. I recently read an article about how a lot of good advice actually brought down the ROI of a man’s company. It’s not that the advice that was given was ill-intended or bad, it’s just it came from a vast array of opinions. It also came from people working outside this man’s market.

So who knows best ultimately? You or your boss. Only you know the details of your situation and/or company. Friends and colleges  can suggest improvements. However  you must ultimately decide which advice to put into practice.

Even better than trying out advice is putting something into practice and testing it. Let’s take e-mailers for example. If you send out hundreds of e-mails, why not test two different sign up buttons or a template? Then keep track of which e-mail gets opened, clicked, and subscribed to the the most.

Use this experimental progress with as many small changes as you can test, and then you’ll really know what kind of an return on investment you’re getting for a small change. It may be something as simple as changing the wording of your text or the color of a button that will increase your profit.