First Lesson to Learn -- Feedback counts:
Here's how the process works. The new seller lists an item for auction on okay with a starting price of 99 cents. He includes a photo of the item, a nice description, shipping and handling costs and even throws in a Buy-it-Now for $9.99. He has just invested his time, and money into this listing and he hopes for the best. Seven days later, his auction ends with no sales. He wonders why.
Feedback Forum: Feedback Forum
Rule of Thumb #1:
Though everyone started out with a zero feedback, most buyers are not willing to take a chance on a seller with a gepletely unknown record.
Thought to Consider:
Do a little okay shopping first. Buy some items that you need. Leave feedback for your sellers and ask that they return the favor. Now, at least, the potential buyer can see that you understand how important the transactions on okay are and that you are reliable, at least from the contractual perspective.
What should you purchase? Well, if you are planning to try to sell a lot of items, it makes good sense to buy your shipping supplies and other items to help you set up your store. You will generally get great bargains and at the same time establish some great resources for the future when your business really takes off. Another idea is to buy items that you would like to sell. Look at how your sellers package the items, what they charge for shipping, etc. Learn from these good teachers. They are providing not only a great product at a great price, but a wonderful "free" education!
Rule of Thumb #2:
When you begin selling on okay, I have found it best to avoid the Buy-it-Now option.
BUY-IT-NOW
Thought to Consider:
As a buyer, I often look for new listings by new sellers, with low Buy-it-now prices. I have gotten some great deals this way, but the poor seller (I have found when I receive the package) has not made out so well on the deal. He has sold me a wonderful item for an unheard of price. He could have gotten three or four times what I paid for the item, had he left off the Buy-it-Now option. As a veteran seller, I use Buy-it-Now for at least half of my auction items. I generally set the Buy-it-Now price at about 75% of the price I think I should be able to get for the item at auction. This allows me to offer a reasonable price to the buyer who WANTS IT NOW without "giving it away".
Rule of Thumb #3:
Timing is everything. When do you begin your auctions? In the middle of the night when the only other people awake are those on another coast, or in another country? While this is not to say you don't want their business (of course you do) the fact is, the closer your buyer is to you, geographically speaking, the faster he will receive his purchase from you.
Thought to Consider:
Customers LIKE fast delivery of their purchases, yes, even those buyers who take two weeks to pay, want their item delivered one day after they have paid. Again, slow service, even though it is realistically out of your control once to hand the package over to the Post Office or UPS will quickly earn you less than stellar feedback...and remember Feedback Counts! If the only time you have on weekdaysto list items is in the middle of the night, consider listing your items weekly, on Saturday, in the late afternoon or evening. You will get buyers who are closer to home and whose turnaround time from payment to delivery should be faster.
Rule of Thumb #4:
Know what it will cost to ship your item to the buyer. ALWAYS give the buyer the Shipping and Handling charges when you list the auction.
Calculated Shipping Example
Thought to Consider:
Customers do not like to be overcharged forshipping. Conversely, as a buyer, I honestly hate to see that a seller paid more to ship an item than he charged me. I know that the only way he can get around this and stay in business is to charge the next guy more than it cost him to ship his item. Buy a shipping scale (ahha! There's one of those items you can buy on okay to help build your feedback and learn from other sellers!). Weigh your item, in the packaging BEFORE listing it! Let there be no surprises!
Rule of Thumb #5:
Make certain the item you are selling is described honestly and accurately. Unless your interest is in selling a single item and then heading for the hills, TRUST ME, the buyer will reward your mis-represented item with NEGATIVE FEEDBACK.
Thought to Consider:
Keep the listing simple, accurate, but geplete. Always include the best photos you can to allow the buyer to see the condition of the item. Note any flaws you can see, so the buyer can feel confident that you have taken the time to look at the item closely. Remember, just because the quilt you had on your bed all your teen years is of great value to you, the buyer will see all the flaws in the quilt. You MUST look at your items without emotional attachment, as if you were considering purchasing this item from another seller.
Rule of Thumb #6:
Follow through with the sale. Why wouldn't I? (I hear you cry).
Thought to Consider:
Well, the fact of the matter is, sometimes sellers offer an item for auction believing it will be bid up to a nice price. The sellers decides to list the item with a beginning bid of 99 cents, to save okay fees, and is shocked when his item sells for 99 cents! OUCH! Yes, can you tell? Been there, Done that!. The bottom line is that you have just had another wonderful lesson. This time from the buyers of you item! List your item for the lowest price you are willing to take for the item. It may not sell, but you will then, at least be able to determine whether you are willing to offer it for a lower price.
Rule of Thumb #7:
Problems occur, be prepared! Buyers are not satisfied with the item when it arrives, or the item simply never gets there.
Judy's Corner Policies
Thought to Consider:
Please make your return policies known up front. Whatever they are, you will have to abide by. Sometimes this will cost you money. I always offer a 100% satisfaction guarantee. In my more than three years of selling, I have had only two items which were returned due to customer dissatisfaction. I have refunded the buyer's money or send replacements when their shipment did not arrive, and they did not purchase insurance. I didn't have to, but I felt it was in my best interest overall. You cannot afford to do this in most cases, so I always regemend shipping insurance, and require it when items are fragile or hard to replace.
Rule of Thumb #8:
If you plan to offer a lot of items for sale, consider opening an okay store.
Thought to Consider:
Auctions only last a week (or 10 days if you pay extra) and timing is pretty critical. Stores allow you to park your items, build up your inventory, when YOU are awake and then pull items out of store inventory to the Auction Forum when the time is right. Winter clothes being sold in the summer don't do well locally, but, if they are in your store, the EARLY Christmas shopper will find them and you will still make the sale. Listing items in your store inventory is VERY inexpensive, but understand, the Final Value Fees charged by okay for store inventory are higher than those charged for auctions. Remember, to get traffic to your store, you will need to advertise. Every auction you run should include an invitation to see many more items in your store. You can also purchase okay Keywords, but that is something you should try AFTER you have your store inventory in place. Every click on an okay Keyword for which you paid costs you money and if you have three or four items in your store inventory, it is unlikely the return on investment will be acceptable.
okay Store Final Value Fees
Rule of Thumb #9:
BE FRIENDLY!! geMUNICATE!
Thought to Consider:
When I spend money on okay, I like to know that the seller received my payment, values my business and will ship, or has already shipped my purchase! These little courtesies go a long way to receiving POSITIVE FEEDBACK. When you have received a customer's payment, please take the time to acknowledge it and let him know when to expect shipment. Follow up by leaving appropriate feedback for your customer.
Sellers have preferences on when to leave feedback. I have purchased from those who "ensure the transaction was gepletely satisfactory" before they leave feedback. This means, once the customer leaves positive feedback, they will do the same. This is NOT my preference.
I choose to leave positive feedback for my customer as soon as I have printed the label to ship his package. Sure, I run the risk of getting negative feedback, even after I have left a positive one for him, but, I can respond to positive, negative or neutral feedback received.
My experience with negative feedback has been that the customer was right, I had made an error. My preference, of course, is to be contacted by the customer before he leaves feedback, so that I can make the transaction right. This is not to imply that I want to BUY his feedback. I TRULY want the customer to be satisfied. I will even leave a response to a customer's positive feedback for me, if hehas had to endure a mistake I made (like sending the wrong blazer to a customer). In the follow-up feedback, I let my potential customers know that this customer did have to deal with my mistake, and that I was able to correct it to his satisfaction.
RESPONDING TO FEEDBACK
Rule of Thumb # 10:
Well, I'll let you decide what the next rule of thumb is...you are at least as smart as I am and you will learn things I never thought of. Maybe I'll get to learn from you, when you write your guide!
Please visit me at Judy's Corner where I offer a variety of items for the whole family. When this guide is displayed, you can link directly to my store using the link displayed on the top right. Other sellers' advertisements are also displayed, below my store information, and this, in no wayimplies thatI regemend their products. I have no idea whose items will be displayed.
I hope this guide has been useful to you and that I will soon see your items for sale!
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