Summary
"Scot Wingo is the eBay strategist. His DEPTH of insight is unparalleled in the industry. eBaytrade; Strategies is essential for those who make their living online." --Scott Samuel, Founder, Honesty.com Founder/CEO, Ethical Technologies, L.L.C. "eBaytrade; Strategies is a must-read for anyone serious about growing their eBay business. I know because the strategies discussed in this book have helped us become one of the fastest growing businesses on eBay." --Randy Smythe, President/Owner, Glacier Bay DVD (glacierbaydvd) "The advice provided in eBaytrade; Strategies will help any business achieve a fast start-up on eBay. We have used Scot Wingo's strategies to grow our business to a huge volume. His advice is top-notch." --Suzanne Hallam (pugster888), Fastest growing eBay seller in Q2 2004 "I have met hundreds of eBay scholars over the years, but very few are on a par with Scot Wingo. Scot combines an intimate knowledge of eBay and its workings with a healthy level of skepticism and clear thinking. I found his book to be both entertaining and informative." --Jay Senese, Cofounder, JayAndMari "Scot Wingo's new book is a must-read for sellers attempting to boost their eBay business to the top level!" --Bill Bogardus (biggbill), Top eBay PowerSeller "The insight, clear explanations, and selling methods in eBaytrade; Strategies are going to create hundreds, if not thousands, of new Platinum PowerSellers!" --Mike Enos, Editor, PlatinumPowerSeller.com newsletter The savvy business book for established eBay sellers who want to break through to the next profit tier! Scot Wingo, a leading AUTHORity in the online auction industry, has captured best practices from 3,000 of eBay's most successful businesses and crystallized them into 10 proven strategies for taking your eBay business to the next level. Whether you are just getting started selling on eBay or have been at it for years, the proven methods presented in eBaytrade; Strategies will take you beyond the basics, helping you maximize your business while avoiding common mistakes that cost you time and money. If you're dreaming of greater success on eBay, get ready to turn dreams into reality! bull; bull;Drive to $1 million and beyond--learn how to break through the "eBay plateau." bull;Discover winning strategies created specifically for eBay. bull;Learn to use the "Five P's"--Product, Price, Promotion, Placement, and Performance--to think strategically about your eBay business. bull;Participate in the eBaytrade; Strategies companion blog and eBay discussion group. bull;Stop making the killer mistakes that keep you small. bull;Beat your toughest competitors, whoever they are. bull;Control costs: fees, shipping, deadbeat customers, and more. bull;Sell MORE with less effort.
Author Biography
Scot Wingo is president and CEO of ChannelAdvisor, which provides auction and marketplace management software.
Table of Contents
| Preface | p. xiii |
| Why Build a Great eBay Business? | p. 1 |
| Who This Book Is For | p. 4 |
| Get Big Fast | p. 5 |
| The eBay Economy | p. 5 |
| eBay Makes Inefficient Markets Efficient | p. 12 |
| But Not All Large eBay Businesses Are Great | p. 16 |
| The Goal of This Book | p. 20 |
| How to Read This Book | p. 21 |
| Summary | p. 23 |
| Building a Foundation for Your eBay Business | p. 25 |
| eBay Listings Terminology | p. 26 |
| eBay Fees Refresher | p. 27 |
| Know Your eBay Business Critical Vital Signs | p. 29 |
| Strategy 1: Know Your Critical eBay Vitals! | p. 37 |
| Noncritical Vitals | p. 42 |
| A Tale of Two Documents | p. 48 |
| Summary | p. 53 |
| Introducing the "Five P's": The Strategic eBay Framework | p. 57 |
| The Five P's | p. 59 |
| How to Use the Five P's | p. 61 |
| Strategy 2: Set Your Strategic Goals | p. 62 |
| Summary | p. 66 |
| Product | p. 69 |
| The Product Life Cycle | p. 70 |
| Strategy 3: Understand and Leverage the eBay Sweet Spots | p. 74 |
| Product Seasons and Regionalization | p. 78 |
| Product Depth and Width | p. 79 |
| Product Mix | p. 82 |
| Product Classification | p. 84 |
| Sourcing Product | p. 85 |
| Case Study: GlacierBayDVD | p. 91 |
| Summary | p. 95 |
| Price | p. 97 |
| Strategy 4: Understand The eBay Price/Velocity Curve | p. 98 |
| Caution: Falling ASPs | p. 102 |
| $1NR: An Overused and Potentially Dangerous Strategy | p. 111 |
| Strategy 5: Use the Perception-of-Scarcity Strategy | p. 115 |
| Strategy 6: Use the Second-Chance-Offer Strategy | p. 118 |
| Price and Classifications | p. 124 |
| Case Study: DesignerAthletic | p. 126 |
| Summary | p. 132 |
| Promotion | p. 135 |
| Promotion and the Price/Velocity Curve | p. 136 |
| Strategy 7: Optimize Your eBay Search results | p. 138 |
| Browsing | p. 167 |
| Strategy 8: Build Your eBay Brand | p. 170 |
| Case Study: MobilePC | p. 178 |
| Summary | p. 181 |
| Placement | p. 183 |
| eBay Placement | p. 184 |
| Strategy 9: Explore Other Channels | p. 190 |
| Case Study: CrazyApe | p. 205 |
| Summary | p. 211 |
| Performance | p. 219 |
| Strategy 10: Use an eBay Dashboard | p. 220 |
| More Dashboard Ideas | p. 228 |
| The Product Dashboard | p. 229 |
| The Price Dashboard | p. 235 |
| The Promotion Dashboard | p. 238 |
| The Placement Dashboard | p. 242 |
| Performance Conclusions | p. 245 |
| Case Study: JustDeals.com | p. 246 |
| Summary | p. 252 |
| Putting the Five P's to Work | p. 255 |
| Product | p. 257 |
| Price | p. 260 |
| Promotion | p. 261 |
| Placement | p. 263 |
| Performance | p. 265 |
| Conclusion | p. 265 |
| Appendix: The Ten ebay Strategies | p. 267 |
| Glossary | p. 279 |
| Index | p. 285 |
| Table of Contents provided by Publisher. All Rights Reserved. |
Excerpts
More than a million people actively sell on eBay. Of those people, eBay recently reported that more than 430,000 make a full-time living from their eBay business. These numbers are increasing rapidly every month. eBay drop-off centers such as AuctionDrop are opening at an incredible pace. Late-night infomercials on TV now show successful eBay sellers jumping off their giant yachts, purchased with massive eBay profits! The number of buyers on eBay is increasing as well, with more than 105 million registered global users45 million of whom are "active, " having bid, bought, or sold in the last 12 months. Even with the growing number of buyers, sellers are finding it more competitive to sell on eBay. Average selling prices across eBay are decreasing. Why? Because each category has sellers who sell more than $50,000 a month. Those high-volume sellers capture large portions of market share, which allows them to buy their inventory at lower prices. They then pass on those savings to buyers, creating a continuing price war among other sellers. Although sellers compete primarily on price, other factors such as feedback, branding, promotion, and merchandising determine which sellers can easily be found by buyersand ultimately who makes the sale. Get Big Fast . . . Given the competitive environment on eBay, many sellers go out of business because they are simply outsold by their competitors. eBay's stated goal is to make inefficient markets efficient. Unfortunately, as marketssuch as eBay categoriesbecome more and more efficient, sellers have fewer and fewer competitive advantages. In fact, in many eBay categories, the only competitive advantage left is size, and with it the ability to source products less expensively than competitors. So, if you are selling on eBay and want to survive, you have to grow your business rapidly to stay competitive with the rest of your peer group. If you do not, you will not endure the Darwinian nature of eBay. Unfortunately, until now, there has been no guide describing what to do after you master thebasicsof selling on eBay. This book is that guide. It gives you two tools proven to generate rapidly growing eBay businesses: Ten very specific strategies you can start using now to scale your business. A framework called theFive P's, for thinking strategically about your eBay business. The Five P's areprice, product, promotion, placement, andperformance. Using both of these tools, you will be able to take your business not only to the next level, but also quite possibly grow it into a million-dollar-a-year venture. Where Do the Strategies Come From? I am the founder of a company called ChannelAdvisor. At ChannelAdvisor, for the last five years we have helped businesses of all sizes sell on eBay. We provide the software and services that power businesses of all sizes: from individuals with very small operations to large, homegrown firms such as GlacierBayDVD (the largest DVD seller on eBay) to corporate retailers such as Best Buy, IBM, and The Sharper Image. While working with more than 3,000 eBay businesses, we have developed the strategies and the Five P's framework and tested them repeatedly, improving them along the way. In fact, the strategies in this book drive most of the million-dollar-a-month sellers on eBayand a large percentage of the million-dollar-a-year eBay businesses, too. We decided that these strategies are too important to share with just a closed group of sellers; the whole community should benefit from them. So, we compiled the best, most proven strategies into this book. In fact, throughout the book, I prefer to use the pronounwerather thanI, because I cannot take credit for creating these strategies, and becausewemore