6 steps to revitalise your eBay business in 2011
Happy New Year…. and back to work. This is the time of year many people will set personal goals and New Years resolutions which will shape their lives over the coming months. It’s also a good time to step back and evaluate your business and set your goals and plan for where you want to be in another year’s time.
Do a business health check
Find where you could save money. Could you get a better deal from your courier or by switching to another? Does your packaging supplier still offer the best prices? Could you save money by buying in bulk? Can you reduce your storage costs by eliminating slow selling lines? Don’t forget the more times your turn your stock over the harder you money works for you.
Evaluate your software requirements
Are their solutions which could save you time, money or both? Are the basic tools like TurboLister and eBay Selling Manager good enough for your business or are there others which are more efficient. Your business has grown since you first started selling online so if you’re still using the same software tools to run it there are almost certainly solutions you should consider to streamline your operation.
Check your eBay listings to make sure they’re up to date
Are you selling and returns policies up to date? When was the last time you updated item specifics on your old templates? If it’s more than a couple of months ago then they’re probably out of date and not working for you. Make sure all your listings still have their images and that the pricing is correct for the current market conditions.
eBay is not enough to run a mature business, get your own website if you don’t have one and if you do get another in a different niche. Get onto Amazon, Pixmania, Play, Etsy and whichever other sites fit your product set. Don’t forget to list on overseas eBay sites – eBay.com UK and Germany are the biggest, but Australia and Ireland are also English speaking. Amazon France and Germany are worth considering adding to your portfolio of marketplaces.
Use all the marketing available to you
Consider branching out into shopping comparison, paid advertising and coupon sites. Make use of all the marketing available to you for previous customers. Use your eBay shop email marketing and if you have built your own marketing list for website customers start sending offers to turn them into repeat customers. Don’t forget to use social media sites such as Twitter and Facebook to advertise your business and attract customers.
Finally if it’s not broke don’t fix it
Evaluate what is working well for you, which products lines are best performing. What pricing and listing formats are working well for your categories and are there tips and tricks you can learn by researching your competitors.
Doubtless eBay will have some changes to make in the first Seller Release of 2011 that will affect how your run your business but don’t wait for eBay to force you to review your business. There are plenty of things you can be doing now to streamline operations and increase profitability for 2011.