Member Workshop: How to Create a Selling Strategy - Jan 05 in Community Help Boards in Community

Last Post Jan 5, 2007 12:12 PM by: deirdre@ebay.com

Replies: 144

Member Workshop: How to Create a Selling Strategy - Jan 05

Dec 28, 2006 9:25 PM

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Topic: Member Workshop: How to Create a Selling Strategy, and Why it’s Important for your eBay Business

Host: terapeak
Date: Friday 01/05
Time: 11:00 am to 12:00 pm PT
Location: Workshop Board

Description: Transitioning from a hobby seller to a business seller takes a lot of dedication and the ability to learn more about your intended market. Developing a selling strategy will define your business and help you find and maintain eBay buyers. Join Dave, Sara and Denise from the Terapeak team to explore how market research can develop your selling strategy and give you the leading edge on the competition. Learn about the three T’s –Trending, Timing, and Titling - and how these three concepts can help your auctions fetch top dollars.

Cheers,

Deirdre
eBay Community Development

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Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 10:53 AM

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Welcome and thanks for joining us today!

We love workshops to be interactive, so please feel free to ask your questions that directly relate to this topic.

Added note: If you click on the "Watch this discussion" link, you will receive an email each time someone posts to the workshop.

Stop Watching: If at any time you no longer want to receive updates on a thread you are watching, just click on the link titled "Stop Watching Thread" found in the specific thread being watched. Also you can remove any watched thread by clicking on the "Watched Discussions" link located in the log in bar and deleting the watched thread.

If you're new to the discussion boards, please be sure to check out the board tutorial:

Link

A from our Legal Department: The statements and opinions made in this discussion board are those of the workshop host only and do not reflect eBay policy or eBay's opinion with respect to such statements.

Cheers,

Deirdre
eBay Community Developmen

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 10:56 AM

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Hello, I want to listen to the workshop, but not sure how to get onto the site, how do I do it? Thanks

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:00 AM

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Hello - I have just started selling on ebay Nov 06. I intend to make this my full time occupation - as a matter of fact, this is my job full time...scary. so I need to start right away in making this thing work! I was glad to see this subject come up. I am also new to forums so if i am speaking out of term... oops - sorry!

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Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:00 AM

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Hi monte5380:

FYI: There is no audio with the workshop. We'll begin posting the workshop material here momentarily.

If you have a question or comment for the workshop host, post just as you did your previous post.

Thanks for joining us,

Deirdre
eBay Community Development

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:00 AM

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Slide #1

Greetings Everyone!

Welcome to our workshop:

“How to Create a Selling Strategy, and Why it’s Important for your Ebay Business”

The Terapeak marketing team, Sara and Denise, are here to answer any questions you may have. We like our workshops to be very interactive so feel free
to jump into the discussion at any time. If you are unsure how a workshop is done, feel free to ask for help.

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:01 AM

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Slide #2

Introduction

What we’re looking at today is a transition a lot of people consider making. You’ve been a successful hobby seller,
and now you’re thinking of stepping up your income by dedicating more time to your eBay presence. Whether you are thinking
of expanding your auction base or opening a store, it’s important that you to consider what your selling strategy is going to be.
Just like a bricks-and-mortar retailer has to create a business plan, you need to develop a concept of what your business is going
to look like – if you want to make those dollars grow!

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:01 AM

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Slide #3

Starting Out

For today, let’s pretend that I want to start a business on eBay. We’ll use this as a fictional business model and experiment
with how I would develop my business selling strategy using research and my existing experience as a hobby seller on eBay.
I’m going to use the Terapeak.com research site to get information.

We’ll pretend that I’ve sold some beauty supplies for fun on eBay. I’ve made a bit of profit and have made a connection with a local
spa owner who has agreed to share her supplier with me. This means that I can access beauty products at a good wholesale price to sell
on eBay! (To find great product sourcing specialists, like Worldwide Brands and Doba, check out www.terapeak.com/resources.
I would like to create my own business through eBay to develop a secondary income and sell products that will be in high demand. So
where do I start? Which product should I sell?

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:01 AM

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Slide #4

Trending

Since I have a small amount of investment money, I want a product that will sell consistently and allow me a decent profit.
Lately I’ve been obsessing a little bit about some new wrinkles on my face, so I do a search on anti aging products. I use
Terapeak.com’s 2-year trending search to get a feel for the market in anti aging products. Here’s the result when I type in
my search :

Selecting the top category brings me to this report:

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:02 AM

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Slide #5

Hey! I think I’ve got something here! It looks like this category is experiencing a steady, gradual growth! And, if I break down
my search, I see the top brands represented within the category! Could I enter this market with a comparable or better product that
is underrepresented on eBay? And with sales growing steadily over the past 2 years, this looks like a market that will continue to
grow! Being a relatively cautious risk-taker, I like the looks of the steady sales in this category – it doesn’t seem to be a seasonal
item where I’ll have big highs and lows in sales.

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:02 AM

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Slide #6

I select a line of anti aging products. They are great, it’s a quality product, and reviewing my trending research, I think it will
sell like hotcakes! Now I need to decide what titles I can use to get to the existing anti aging product shoppers and enter the market.

Doing a quick category search, I can see that the vast majority of the items are in the Health & Beauty > Skin Care > Anti-Aging
Products category.

I can even see some individual brands in the sub category menu.

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:02 AM

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Slide #7

Titling

This helps me decide where I want to put my auctions. There aren’t a lot of listings under Makeup>Anti-Aging so I may want
to consider listing there as well. The sell through rate looks good.

Now, I look at finding optimal words for my title. Moving to my Closed Listings Research option and entering “anti aging” into
my search field returns a list of what categories the listings are located. I choose to only look at the Health & Beauty
category listings. From here I get a report, including the top keywords in the category. I can see here that “moisturizer” and “set”
have a good sell-through rate, so I’ll make sure to consider those when I name my listings.

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:02 AM

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Dear theturnaboutshop,
Welcome to our workshop and we hope you take home with you some valuable insight for your eBay business. Stay tune as we have some amazing examples.
Sara

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:02 AM

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Slide #8

There are lots of interesting sites online to help you build a good auction title. I like to check out free sites like pulse.ebay.com
and google suggest (at the google labs) for some indications as to what is being searched for, and what words are coming up most frequently.
It’s a good idea to keep titles consistent, and keeping the title clear and reflective of your item is important. Though “spamming” with popular
unrelated keywords seems like a good idea to get more hits, it may have an adverse effect as your auction gets buried under thousands of other
auctions doing the same thing.

Use keywords that come up in people’s searches. Evaluate keywords based on sell- through rate, because that means they are actually driving
customers to purchase.

In the example, “set” has the best sell-through rate, at 70.36% and the highest average price of $94.09.

Member Workshop: How to Create a Selling Strategy - Jan 05

Jan 5, 2007 11:03 AM

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Hello - I too just recently starting selling merchandise on eBay and am interested in finding out the following:

(1) what is the best time to have an auction end? (time of day, day of week)

(2) is time of day and day of the week more important than whether your listing is a 5 or 7 day listing?

Thanks!

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Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05

Member Workshop: How to Create a Selling Strategy - Jan 05