Archive for June, 2008

Why?

Monday, June 30th, 2008

As a kid I’m sure I used to annoy the heck out of my parents and teachers by continually asking ‘why’? I was always deeply inquisitive, and would never take no for an answer. I HAD to have a reason for things.

Studies have shown that giving a reason makes a huge difference in all kinds of situations.

You may have heard of the famous photocopier study by a Harvard psychologist. Forgive me if I mess up the exact details, but the gist of it goes like this… the study was setup so that a person who was waiting to use a photocopier went to the front of the line and said “May I use the copy machine?” About 60% of the time they were allowed to do so. However, when the same person approached and said, “Can I use the photocopier because I’m in a rush” they were allowed to do so 95% of the time. The other individuals standing in line apparently had no problem with the request because a reason was given.

The really interesting thing about the study came about when the person tried the same test a third time. This time, instead of giving a reason that made sense, they simply said, “Can I use the photocopier because I need to make some copies?” In other words, no real reason of any substance was given, BUT the word ‘because’ was included in the sentence. Guess what? The result was the same. The person using the copier still happily gave up their place - simply because it sounded like a ‘reason’ had been given.

A fascinating study in human behavior I’m sure you’ll agree. What’s the implication for our eBay business? Simply, you MUST give a reason for every item you sell. Why? Because it makes a huge difference in the mind of the prospective buyer.

In creating listing descriptions we naturally tend to ‘hype’ the item and make it sound very desirable. That’s fine, but one of the results of doing that is that there’s a psychology that goes on in the buyers mind – they say to themselves ‘why is this person selling this item if it’s so good?’ Valid question isn’t it? Can you see why it’s so important to give a reason why? And as you’ve seen, it doesn’t really matter what the reason is, as long as it’s believable. I’m not suggesting that you lie, but simply that you choose your reason carefully.

You MUST use ‘Reason Why’ in your eBay Listings”

As an example, I recently sold a camera on eBay for a friend of mine. The truth was that he wanted to upgrade to a newer model when that came out, but rather than alerting buyers to the fact that this model was soon to be superseded, he told buyers that he was selling the camera because he hadn’t had time to use it, which was also true. I’m confident in saying that that latter ‘reason why’ was much better received. Is all this somewhat manipulative? Yes, it is. Selling is manipulative. It’s all about persuading people to take an action you want them to take rather than leaving things to chance or letting others have more influence over your prospective customers. As long as you’re being honest and up front you have nothing to worry about. What we’re doing is mastering the art of using words that sell. In this example, the word ‘because’ makes a tremendous difference. Fortunately we don’t have to go through the trial and error of guesswork, or invest thousands in controlled studies – that’s already been done for us. All we have to do is apply the results.

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The Monkey Trap

Friday, June 27th, 2008


In Africa they have a ridiculously simple method for catching spider monkeys. Have you heard about it?

The hunters carve a hole in the top of a heavy box, just large enough for a small monkey’s hand to go through. On the bottom of the box is a larger hole into which the hunter places a large nut, larger than will fit through the top hole. Can you see where this is going?

When the monkey comes along, smells the nut and sees it inside the box, they instantly squeeze their hand into the hole and grab the nut. However, since the nut is larger than the hole, there’s no way that it will ever come out. The monkey is not intelligent enough to realize this and they always stubbornly hold onto the nut, never letting go. This means the hunter can walk right up to the monkey and capture it.

Let me ask you, are you like that monkey? Are you desperately holding onto a nut that you’ll never be able to get? In eBay terms the nut is the traditional way of using eBay. You MUST learn to give up that nut, or you ARE nuts! Remember, just a few steps away from where you are now is a huge pile of nuts, yours for the taking, but it might be that you are so focused on (distracted by) the one nut in the container that you haven’t yet seen the bigger pile…

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Beware of Spoof e-mails

Tuesday, June 24th, 2008

I’m sure you’re alert to emails that claim to be from eBay or PayPal, but that are in fact maliciously phishing for your login details.

I am too, but I still got caught out the other day. The criminals behind these scams are constantly thinking up new ways to deceive people, and in my haste I almost got caught out. Let me tell you what happened…

I received the email shown in EXHIBIT A, claiming to be from eBay, about an item dispute. Well of course no one likes to hear about a dispute, so in my rush to see what it was all about, I clicked on the link in the email.

Fortunately, I have the eBay toolbar installed, which quickly notified me that the link was fake. It took me to a page that looked like an eBay login page, but was in fact a site setup to capture login details.

So the lesson is, NEVER assume that an email is from eBay even when it says it is. If you login to your account you can see at anytime whether there is any action required, or messages to answer. That’s why eBay has an internal mail system. I’m usually very vigilant about this, so if I can get caught, I know that you can too.

My recommendation is to install the eBay toolbar in Internet Explorer or Firefox if you haven’t already done so. It’s free, and it’ll provide you with much better protection against these kinds of crafty emails. Do it today!


http://pages.ebay.com/ebay_toolbar/

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A.L.O. Technique - ‘PayPal Verified’ Logo in Listings

Saturday, June 21st, 2008

ALO is a term I coined (deliberately similar in style to SEO) which stands for ‘Auction Listing Optimization’. It can be defined as ANYTHING you can do within the eBay environment that increases the number of buyers, or that prompts buyers to go directly to your website. Each month I discuss an ALO technique that you can implement in your eBay business…

If you accept credit cards or PayPal, you MUST include the respective logos of these companies within your listings. Why? Buyer psychology. Buyers are subtly influenced by established, familiar trademarks, brands and logos. Merely having those companies included in your listing provides substantial ‘unspoken’ credibility for you as a seller. It makes you seem more trustworthy. In other words, you are seen to be a respectable seller, purely by your association with those companies.

Obviously these days on eBay, almost everyone has a PayPal account, but not everyone includes the ‘PayPal Verified’ logo in their listings, and they should, for the reasons just stated.

Continuing along the same line of thought, you should also include the logos or trademarks from any relevant trade association that you belong to, as well as any consumer awareness organizations like Better Business Bureau or Online Business Bureau. Personally, I’m not a fan of the BBB, I recommend the Online Business Bureau to you, but understand the principle, that’s the main thing. Obviously seek approval for any logos or trademarks that you are unsure about. You want to stay approved by the company, after all! Another company that adds instant credibility is BuySafe. It’s inexpensive and definitely worthwhile as a tool to reassure buyers and for the trustworthiness that you gain.

This ALO technique is incredibly simple, but subtle enough that most sellers completely overlook it. Even if they see these logos in others listings when they browse eBay, they would never think of including details like this in their own listings.

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3 ListingS You MUST Always Be Running on eBay

Wednesday, June 18th, 2008

A huge mistake I see over and over is where sellers sell like they buy. In other words, they offer a product in a way that would appeal to themselves if they were the prospective buyer. BIG mistake. You are not your customer. You see, most sellers forget that everyone is different. There are many different ways that people go through the buying process.

Some people like to browse and compare, others enjoy the thrill of the auction process, and still others with little time or patience like to buy items instantly. Can you identify yourself in any of these examples?

eBay presents us with a unique opportunity to give people what they want. Think about that. There are websites that offer just auctions, there are websites that offer quick and easy ecommerce transactions, and there are sites that allow you to browse and compare prices. eBay has it all. That’s a very important distinction to be aware of, because it gives us a competitive advantage.

The irony is that most people are completely oblivious to everything we’ve stated so far – they don’t realize that there are numerous buying styles and habits across the population, and they also don’t realize that eBay allows us to offer our wares to appeal to these different groups.

The term ‘insider secret’ is overused these days, but I really believe it to be true in this case. So listen up, you can make a LOT more sales by applying this information. Don’t read it, nod your head, and promptly forget about it! It’s simple to apply, you just need to do it.

Right, let’s get down to the nitty gritty. For the purposes of this article, we’re going to apply the principles to the H3 lead generation system for eBay. In other words, this applies to selling inexpensive reports or other information based products on eBay. If you’re currently selling something else, you’ll still see how the same principles can be applied.

Auctions are the bread and butter core business of eBay.”

Firstly, you should always have a 7 day auction listing active at all times. Why? Auctions are the bread and butter core business of eBay. It’s what eBay was founded on, and it’s always been by far the most popular type of listing, by a long shot. That hasn’t changed in over 10 years, and I doubt it will ever change.

There are lots of reasons why this is the case. The key reason however, is that fundamentally, auctions are exciting. Adrenaline is involved, and the final hours and minutes are really exciting.

My wife, Luci, will usually ‘play the auction game’ even when there’s an option to buy the item immediately. I’ve asked her to explain why on numerous occasions, and she can’t fully explain it, but I suspect it comes down to the enjoyment of the auction process – even if she subsequently doesn’t end up winning an item. Similarly, she’ll never use a sniping tool to guarantee winning an item. She views that as cheating. Seems crazy to me, but it illustrates how different buyers can be.

I’m a ‘want it now’ type of person, and if an item is only available as an auction, I’ll nearly always use a sniping tool to enter my bid at the last moment (I use www.bidnapper.com which has two fee structures – both are amazingly good value in my opinion).

So the point is, even if you don’t much care for the auction format yourself, that’s irrelevant. It’s an extremely popular format across the whole of eBay, which is why you must offer your items in that format.

The next type of listing format you must have active is the 7 day fixed price. Now, I should probably make a clarification here, because I often see sellers getting confused between a buy it now, and a fixed price listing. They are not the same thing. ‘Buy it Now’ is not a listing type, it’s an add-on option for auction listings. Here’s how it works. Let’s say you create an auction listing starting at 0.99, with a buy it now option of 9.99. When the first person places a bid on that item, the ‘buy it now’ option immediately disappears, and it won’t be seen for the remainder of the auction duration. So you can see that it has limited value.

The ‘fixed price’ listing on the other hand is, as the name suggests, one price for the duration of the listing. This satisfies anyone that wants to purchase the item immediately.

The third type of listing that we must have active is the classified ad format. The reason for this one is actually selfish. The classified ad format stays live for at least 30 days, and up to 90 days, depending on what we choose. The major benefit with that length of time is that the search engines pick up on keywords and rank the listing within search results, which is obviously extremely valuable. The other main reason for using the ad format is because we can include a direct link to our website. Since there is nothing to buy within eBay with this format, we HAVE to link to where the item can be purchased, and it’s ideal to have people go directly to our website.

Of course, these 3 listing types are not the be all and end all. Other formats can and should be used. However, these 3 cover the essentials, so always keep that in mind.

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Psst Buddy…Let’s Blow This Joint!

Sunday, June 15th, 2008

I just have to say that I love eBay. As much as I love what eBay is, I still understand one thing… eBay is a fantastic traffic tool, but let’s remember that as great as it is, our goal is still to get the customers OFF eBay any time we can. With that in mind, I wanted to keep in the same vein of what I talked about last month and show how to use every opportunity to get prospects to go to your website even BEFORE an eBay sale.

As always, we want to stay within eBay rules. At this time, eBay says that direct links (URLs) to your own website are not allowed within the auction description. This rule applies to regular auctions, fixed price and store inventory listing formats, but both Andrew and I use direct links in eBay’s Classified Ads format, more on that another time… For now we are going to talk about the regular auctions, fixed price and store inventory listing formats.

eBay User ID

Your eBay User ID is a fantastic place to start letting any casual browser know you have a website. Your User ID will be on all your correspondence with potential customers and is automatically one of the first things people see when they come to your listings.

eBay has a double standard when it comes to User Ids as they let users that had URLs in their User ID’s before a certain date, continue to have a blatant website address like; mysite.com. For those of us who registered after the policy changed, we are no longer allowed to have a URL or email address as our User ID!

Fair, no, but welcome to life on eBay. There are a couple ways around this though and I highly suggest them. Use either; yoursitedotcom or yoursite-dot-com. If you are really gutsy you could get crazy and pull one of these; **yoursite.com**.

eMail Address

Another trick is to have a link to your email
you can have something that says, “If you have any questions please email me anytime at: you@YOURSITE.COM.” When I use this technique I actually make the YOURSITE.COM section of the email address bold and possibly a font size or to bigger, just to make the URL part prominent. When I am looking to buy an item on eBay and I see an email address within the listing I always go check out the website. It never fails, I just want to see what they offer outside of ebay and other will too!

For More Info
I always have a link within my auctions that offer more info on the product or on me as a seller. The link might say, “For more info about this product, Click Here” or “Please view our Frequently Asked Questions”. When they click the link they are directed to a page on my website. They key to this is that eBay doesn’t allow you to sell them something from the page you directly brought them too, but I always add a “Check out my other items” or a “HOME” link on the page I directed them too.

Just the fact that you directed them to your website, even if it was just to give them more info, will make most people curious about your site and want to look around. eBay allows it so there is no reason not to use it!

There you go, a couple simple ways to ‘hide’ potential customers away from eBay BEFORE you get the sale. Now that you know that is a possibility you can start coming up with other ways to do it. A couple other ideas could be within a video or audio that you play within your auction listing, certainly lots of other possibilities!

Article by Jeremy Frandsen
www.Renegade-eBay-Sellers.com
www.Internet-Business-Mastery.com

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Bids and Pieces - July

Thursday, June 12th, 2008

Nothing to do with eBay, but I think you’ll relate to this rant. Have you ever been on vacation, out of town, visiting friends, on a business trip etc, and you need to find out where the nearest branch of your favorite store is? What do you do? I go online to find out. The frustrating thing is, it seems like almost every website asks you to enter the zipcode of where you are, in order to find the nearest store. Utter stupidity. Who’s gonna’ know the zipcode of the unfamiliar area where they’re staying? How difficult would it be for them to just ask you for the name of the town and state? Okay, getting down off soap box now.

________________________ _______

Have you downloaded the free eBay toolbar yet? If not, go and do it right away. There’s plenty of features that make it useful. For example, a one click button to whisk you straight to eBay, a search box that searches all of eBay, a phishing / spoof protector, to warn you of unscrupulous sites that look like eBay to try and grab your user ID and password, and desktop alerts to notify you instantly if you win, lose or get outbid. To access it, just type ‘eBay toolbar’ in Google and it’ll appear at the top of the results. Windows operating system only, sorry.

________________________ _______

From time to time, eBay adds categories to the site, so look out for these. It’s important to know this, because if there’s not a good fit for what you currently sell, you can appeal to eBay to add a new category. Also, you can profit by being quick to list in the new categories – it takes awhile for word to spread, and any category with just a few items will get more exposure when people browse those categories. For example, eBay recently added new categories for cookbooks, Apple iPhones and accessories, eBay stores designers (within services), and plus sizes for boys and girls clothes! Taking just one of these, if you know how to design an eBay store, there’s a golden opportunity to market your services in that new category right now.

To suggest a new category, visit:

http://pages.ebay.com/help/newtoebay/suggest.html

HaveHaveH

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“But I Don’t Know What To Sell”

Monday, June 9th, 2008

I hear that phrase more than you could ever imagine. My email box chimes numerous times every day with messages from individuals who’ve heard from their cousins uncles boyfriends mailman’s sister about what I do on eBay, and they want a piece of the action, but they “don’t know what to sell.”

Turns out in most cases they already tried to find a supplier of iPods or Sony Playstations – because that’s what someone told them is the top selling product on eBay. I applaud the fact that they actually did something, but what they didn’t realize of course is that 389,000 other people had the exact same ‘genius’ idea - and they couldn’t make it work either. (In case you were wondering, not only are these products difficult to source, but the inexperience of the sellers’ drives prices down until there’s virtually zero profit margin).

If you’re still in the phase of ‘what do I sell’ let me share something with you that I think will change your mindset…

The other day I read about a new type of digital jukebox that had 10,000 songs in its ‘memory’, compared to about 40 or so in a traditional jukebox. For the first time, customers in a bar or restaurant can choose from a whopping 10,000 songs. Now here’s the fascinating thing – in a test, how many of those 10,000 songs do you think were played within a 3 month period? Like me, you probably guessed between 10% and 50%, right? The answer astounded even the manufacturer of this jukebox. When they downloaded the stats, they discovered that 90% of the songs were played within a 3 month period! 90%! And here’s the real kicker. Of those 90% that were selected, the vast majority weren’t played just once or twice, they were all played numerous times. Only a tiny percentage of tracks were played once or twice.

Can you see the lesson here?

When given free choice, consumers demonstrate how remarkably different interests they have. They are astonishingly diverse.

This means that eBay is a near perfect marketplace. There is simply no other e-commerce site that offers such a wide array of unique products and services in one place at one time.

Can you start to see why it’s not necessary, heck it’s actually foolish to offer iPods and PlayStations?

Instead of banging your head against a brick wall in frustration, go after a market where there’s plenty of customers and little or no competition. There’s plenty of ‘em by the way. Don’t get me wrong. Some competition is good, but there’s definitely a balance to be had. If there’s so much competition that there’s no profit in it, what’s the point in gong after that market?

At the risk of sounding like a stuck record, here’s my advice in a nutshell: (1) realize that there are an unlimited number of products or services that people are willing to buy on eBay, (2) create a unique information based product (CD / DVD / Software / eBook / Printed manual etc) in a subject that you’re interested in and/or know something about. Finally, (3) apply the tips, advice, techniques and strategies in this newsletter to get on the fast track to consistent profits.

If you want the fastest shortcut to success, you need to invest in my H3 training workshop DVD’s (see the enclosed offer). Newsletter subscribers get the best deal by the way, a substantial discount that will more than pay for your annual subscription.

It’s one way I like to say thanks for your loyalty.

If you’re still stumped about exactly what you should sell, the course holds your hand through the decision process, and gives you plenty of pointers about how to make the right decisions.

Don’t worry if you don’t like writing, don’t worry if you don’t think you’re an expert in something, don’t worry about anything. That’s why I devised the course. Going back a few years, I had all the same concerns, and I show you how to overcome them.

So why don’t I include the course in this newsletter? It’s FAR too much content; we could only scratch the surface. So, this newsletter gives you the pointers, reminders, latest updates, and most of all the encouragement and support to make it happen!

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Renegade eBay Strategy - Learning From Your Competitors

Friday, June 6th, 2008

Competition exists in almost all businesses. If not direct product competition where you’re selling the same item as someone else, then it’ll be someone selling similar products in the same niche. If you can truly say you don’t have any competition, trust me that it won’t last, so this column applies to you too!

I’ve always found it odd that most business owners I talk to have a pattern of ignoring their competitors. However, the renegade approach is to do the opposite of the majority, and there are MANY benefits to be had by studying the competition.

RENEGADE STRATEGY 1:

Learn from what they’re doing WRONG

I truly believe that you can often learn more from what a competing business is doing wrong, than the things they’re doing right. If you watch Donald Trump’s TV show, ‘The Apprentice’, (a must on your Tivo/DVR schedule) you’ll notice this principle to be true – you can learn a great deal from the mistakes made by contestants. So I hereby give you permission to study the WORST aspects of a similar business in your niche. What then? Simple. Go overboard with counteracting those weaknesses in your own business, and that strategy alone will immediately and dramatically make you stand out from the crowd.

RENEGADE STRATEGY 2:

Learn from what they’re doing RIGHT

Every so often you’ll come across a business that has either accidentally or deliberately created a marketing piece, a system, or some other innovation that is obviously driving a large number of sales for their product or service. Usually there’s little value in copying the innovation outright, but you could seek to improve it with some creative thinking. Really, the key point is, unless you were in touch with the marketplace, how would you know this situation even existed?

RENEGADE STRATEGY 3:

Learn by being their customer

My guess is that you’re not doing this right now, but why wouldn’t you? When I say, “be their customer”, I mean just that. Order something from them and carefully evaluate every detail of the transaction. What correspondence did you receive, and was it via email or mail, or both? What did it say? What was the tone – friendly, sincere, matter of fact? Were you sent any follow-up offers or up-sells? It’s remarkable how much ‘inside’ information can be gained from this simple act. Think about how much more power you have when you know competitors processes inside out.

How can you apply these techniques to eBay? Actually, there’s a really easy way to keep a close eye on your competition. It’s called ‘favorite seller’s’. Within any listing, there’s a clickable link that reads ‘add this seller to my favorites’ (the exact wording might vary). Simply click the link to be kept notified via email about the sellers’ latest items for sale! You’ll be able to see when they change pricing, when they add new items, and so on. As an added bonus, I’ve included a list of eBay’s current top sellers, for you to analyze what they’re doing. Feel free to share your discoveries - the good, bad and the ugly.

Knowledge is most definitely power when the knowledge is applied in a smart way. Gain accurate knowledge of your competitors and use that information to dominate them by making your products and services superior.

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Starbucks Screws Up

Tuesday, June 3rd, 2008

My wife Luci had a service experience the other day that took us both by surprise because it happened with a company that usually has excellent service standards: Starbucks.

Luci relates what happened: “Andrew was conducting an eBay training workshop locally so I went into our local Starbucks to buy a ‘coffee traveler’ – one of those boxes of fresh drip coffee designed for long drives. I also wanted 8 muffins. They didn’t have any on the display stand, but I did spot some unopened boxes of muffins, scones, etc waiting to be unpacked. Picking up two boxes of muffins I was abruptly stopped by the shift supervisor. She told me I couldn’t have them because that was their stock for the week.

This response took me by surprise – “isn’t the point to sell them?” I asked. In my mind, I was thinking, ‘wouldn’t you rather sell them now than wait and HOPE you can sell them all later?’ The response to my reasoning? She grunted and rolled her eyes at me. I did a double-take at this reaction – this was the supervisor! Isn’t she supposed to be the model of friendliness and service to the other staff?! Anyway, clutching my ‘hard-earned’ (and still frozen, I might add) muffins, I went to pay for them. Seeing as they were still frozen and there quite a few of them, I asked for another box of hot water to defrost them quickly. The supervisor (whose pride had obviously been wounded by my logical reasoning on the muffin front) instantly lost any remaining fragments of service ability. She said she’d never been asked that before and would have to charge me for the box!

She went out the back to find out how much to charge me. By this time I had already been waiting for five minutes. Two people behind me were served while I waited – both of them received a warm smile as they were each given their $3 cups of coffee. TEN MINUTES LATER – no kidding – the sour-faced supervisor came back and informed me they would charge me $5 for the box if I wanted the hot water.

By this point, I was fed up and just wanted to leave – I’d had plenty of time to work out that with the traveler box of coffee, the box was in fact free (it was the same price as the equivalent amount of coffee sold in cups). I dropped the issue of the extra box and instead asked for two Venti cups (the largest size) full of hot water.

Apparently that was an acceptable request, and I was granted 4 cups. She gave me the hot water, each cup doubled up, in a four-cup tray, obviously not even considering that the cost of that amount of cups plus the tray probably amounted to more than the box would have been! I paid $45 for all these items, waited fifteen minutes, and the only smile or ‘thank you’ I received was from the trainee who I discovered had been there just three days! Correct me if I’m wrong but, seeing as I’d spent $45 in the store, shouldn’t I have been treated at LEAST as good as (if not better than) the people behind me who spent $3 apiece?”

The lesson from this should be obvious. The experience left a bitter taste in Luci’s mouth (pardon the pun) and resulted in negative publicity for Starbucks because we told our family and friends (and now you) how she was treated there. The actions of that one employee colored our view of the company and we’ll think twice before using that store again (bad news for them with what we spend!).

Treat them like royalty, and they’ll respond with loyalty”

Customers are the lifeblood of your business. Treat (and view) each customer like they are your ONLY customer and they will respond in kind. They are giving you their hard-earned money - treat them like royalty and they will respond with loyalty and great referrals. Treat them like a ‘necessary nuisance’ or a disturbance (as Luci was treated) and you will watch your business’s lifeblood slowly ebb away, one customer at a time.

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