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Member Workshop: How to Generate More Money per Sale - March 02
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Last Post Mar 2, 2007 11:59 AM by: deirdre@ebay.com
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deirdre@ebay.com
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Member Workshop: How to Generate More Money per Sale - March 02

Feb 22, 2007 10:04 PM
Topic: Member Workshop: How to Generate More Money per Sale – Exploring Potential Add-ons Using Market Research

Host: terapeak
Date: Friday 03/02
Time: 11:00 am to 12:00 pm PT
Location: Workshop Board

Description: Spring is springing in some areas this month! With all that new life inspiring change and growth, why not put a little spring in your business steps and develop your eBay product line? By exploring additional markets within the general product area you are already selling, you can expand your business, rejuvenate your sales, and generate more cash! Join Sara and Denise from Terapeak Marketplace Research and review how to explore the current eBay marketplace using the market research available at Terapeak.com. Also, learn how to use the information from Terapeak to find and create add-on products within your existing category to beef up your eBay sales.

Cheers,

Deirdre
eBay Community Development
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deirdre@ebay.com
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:01 AM
Welcome and thanks for joining us today!

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Cheers,

Deirdre
eBay Community Development
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:02 AM
Slide One

Spring is springing in some areas this month! With all that new life inspiring change and growth, why not put a little spring in your business steps and develop your eBay product line? By exploring additional markets within the general product area you are already selling, you can expand your business, rejuvenate your sales, and generate more cash!
Today Sara and I are here to talk about how to generate more money per sale, exploring potential add-ons using markeg research! Thank you for joining us. We're going to post the material, so you can read it and then ask questions. We're here until 12 pm PST to answer questions on the material.

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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:02 AM
Slide Two

Up-Selling

The practice of up-selling is one you encounter all the time at a brick and mortar store. Retailers offer complimentary products to their main product line, to entice buyers to spend more money while they’re in the store. Retailers track their dollars per transaction average as a way to measure their sales, and add-on items can help to increase these numbers. As an internet seller, you don’t necessarily have a physical storefront, but whenever you have a buyer, you have the opportunity to add-on to their existing purchase and increase your sales dollars!
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:03 AM
Slide Three



Let’s look at a hypothetical store situation – say you run a women’s fashion shoe store on eBay or you list a lot of shoes on eBay. The women’s hosiery market – tights, hose, socks, etc. would be great little add-ons to your shoe sales. You could even have an email to send to auction winners directing them to your fabulous stock of tights, or time listings to end shortly after shoe listings end. A buyer will be more likely to add on to their purchase with you to save on postage and transaction time than go elsewhere for the same items. Take advantage of the fact that you’ve made a sale and generate more sales by suggesting add-ons to your customers. Why would they not want to purchase a pair of tights or hose for their new shoes?

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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:03 AM
Slide Four

If we do some research on these prospective add-ons – like tights – we can assess the market and determine the best angle into the market for our add-on business.

Here is a report from the past 30 days of auctions for women’s tights:



This shows us that there has been $53,834 worth of hosiery sold in that month!
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gonavychief
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:03 AM
I'm new to selling on ebay, and am curious about anything that can improve sales.
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:03 AM
Slide Five

From this report, we can click through to the top sellers of tights on eBay for that month…



The seller has 64% of the total listings for the top 5 sellers! The next closest seller sells only 16% of what they do! This seller is really dominating the market.
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:03 AM
Slide Six

We can review this top seller for tights – see what and how they are selling

Here are their totals for the past 30 days



Total sales - $18,540 / average sale $31.06
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:04 AM
Slide Seven

Using the Seller Search in Terapeak, I am able to look at a report of the closed auctions for this top seller. I can review their individual auctions and get an idea of what they are selling and why they are so successful. I see in this situation, the seller is offering much higher end items than the majority of other sellers of the same type of items. In fact, if I do a search in Terapeak for all listings of the specific brand of tights, our top seller lists the majority of this brand of tights! They have 72% of all listings!
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:04 AM
Slide Eight

Higher end brands in the tights category, for example, offer a higher average price ($26.33 - $27.41 approximately). Perhaps as a higher end and/or designer shoe seller, you would like to add some higher end tights to the store. You could investigate a brand that is underrepresented and promote them to the existing shoe buyers. Sellers of discount shoes might want to add some fun and unique lower priced tights that would appeal to customers looking for the latest trends at a discount.


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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:04 AM
Slide Nine

Here is a trend report for the past two years in the women’s hosiery category. You can see the slow growth upwards. This appears to be a growing category to which a seller might want to contribute! If you review the graph, sales for this time of the year are nearly equal to the sales from Christmas 2005!

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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:04 AM
Slide Ten

So what if you don’t sell shoes? Well, all it takes is a little creativity and thought to determine what items are good companions to yours…


Add-ons for other sales?
Selling…
…Jeans? Add on belts!
…Sweaters? Add on scarves!
…Kitchen Appliances? Add on utensils!
…Dog Jackets? Add on matching collars/brushes!



…Make up? Add on hair accessories!
…Ipods? Add on headphone upgrades!
…Jewelry? Add on special cleaners!
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:04 AM
Slide Eleven

There are lots of ways to increase your sales using market research – this is only an example of how to attack some of the information available at Terapeak.com.
If you have any questions about the material we’ve covered in this workshop, please start typing! We’ll be here for the next hour to work with you!
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terapeak
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Member Workshop: How to Generate More Money per Sale - March 02

Mar 2, 2007 11:05 AM
Dear gonavychief,
This is a great place to start. We will demonstrate some interesting tools and techniques to improve your sales on eBay. Please feel free to ask any questions or comments along the way. We love to hear from you.
Sara & Denise
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