Put your prices up…

CATEGORY: News

Too many eBay sellers are trying too hard to be the cheapest for what they sell. Generally, it’s not worth the effort: someone, somewhere, will always be able to undercut you. Duct Tape Marketing’s John Jantsch has a great take on this:

Look, competing on price is a tough strategy, there will always be someone willing to go out of business faster than you. When you raise your prices across the board you may find that some of your customers balk and even leave. Generally, as long as you give a solid reason why you are increasing your prices, the ones that leave are the ones that came to you based on price anyway. So do the math on this. Increase your prices by 25%, lose 10% of your customers. The magic formula of “do more with fewer customers” just tilted your way – and you increased the bottom line over night.

There are so many other ways to compete on eBay: excellent photographs can double your selling price, for example. Having all the necessary add-ons can bring in more customers: if you want a range of things, do you want to go to one seller or a dozen? Having terms and conditions that read like someone you might actually want to do business with is so important. And if your competitors think that all that matters is price and maybe feedback, all or any one of these things can give you the edge.

4 Responses

  1. yes i m sure this will work 😯

    i ll put all my prices up by 25% and watch in awe as everyone else sells the same items for cheaper and i m stuck with the stock

    marketing managers need to get out more

  2. When i first started Ebaying in 2002, I started selling used CD singles for between £0-99 – £1.99. I did a lot of jiffy stuffing.

    My feedback was 100% and I’d become a powerseller within 3 months.

    I decided to take a gamble & put up my prices to £3.99 and made sure that only ‘mint’ items were listed. Any below the grade were either bulk sold or binned.

    I gave full descriptions of tracklisting, mixes, producers etc in the listing & self hosted life size pictures so buyers could get a better idea of the condition.

    Sales increased and I became a full time Ebayer.

  3. Yes, this works.

    Edit: Keith posted just before me 🙂 and excellent advice there regarding item descriptions.

Comments are closed.

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