Do Biz Smart Not Hard

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Thursday, March 01, 2007

How to Think Like an eBay PowerSeller.So what's

How to Think Like an eBay PowerSeller.
So what's a PowerSeller? PowerSellers are the people on eBay who've made it, recognisable by the little 'PowerSeller' badge next to their name. You've probably seen these people around - and to succeed on eBay, you want to think the way they do.

How to People Get the Right to Call Themselves PowerSellers?

eBay gets to decide who can be a PowerSeller and who can't, and they have strict requirements. To get in at the minimum PowerSeller level, you must have a feedback rating of at least 100 (minimum 98% positive) and sell at least $1,000 worth of items every month for three months in a row. There are different levels of PowerSeller membership as you sell items of greater value: $1,000 total is bronze, $3,000 is silver, $10,000 is gold, $25,000 is platinum and $125,000 is titanium.

If PowerSellers ever fail to meet the required amount of sales, or their feedback falls below 98% positive, then they lose their PowerSeller status. In short, the only people who get to be PowerSellers on eBay are the people who have been successful for a good while, and are on track to stay that way.

The Shop and the Marketplace.

This is the most important part of understanding how PowerSellers think. They don't see what they're doing as being some random bazaar, or a hobby - instead, they see themselves as a business.

Put it like this. If you run a stall in a marketplace, the chances are that you have a general area of business, but you mostly just sell whatever you can get your hands on that week. If your dodgy buddy got his hands of a job lot of something at a discount, then that's what you'll be selling. This might be fun - and when you have a good week, you'll have a really good week - but it's no way to run a real business in the long-term.

PowerSellers think far more like shops. They sell the same things again and again, every week - regular stock for regular customers. They do 'boring' business things like keep inventories and budgets. They know what they're going to be selling, how much they buy it for and how much they expect to sell for. Just like a real shop, there can be hard times sometimes, but their income is stable and their business can grow slowly.

The best advice I can give you on thinking like a PowerSeller is this: don't take long-term risks for short-term gain. Look after your reputation, manage your selling properly, provide good customer service and the rewards will come to you in due course. And you'll get a little badge next to your name that makes people trust you more!

One possibility that you might have realised so far is what eBay can do for any other businesses you might have. Remember, millions of people visit eBay every day - why keep everything separate when you're starting to tap into that kind of power? The next email will show you a few ways you can use eBay to grow your other businesses.


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Press Releases Are you in the process of

Press Releases
Are you in the process of promoting your online business? This can be an overwhelming process with so many possibilities. Are you unsure what route to take? Is the idea of marketing your business one that baffles you? Press releases are one of the best ways to get promotion for your business. They are cost-effective, and often overlooked as a means of marketing.

A lot of business owners overlook this type of marketing and promotion strategy. Often it is because they don't know how to write a press release. Don't make that mistake. It's important to use press releases to market a business, especially an online business. This is because of the media that surrounds the entire Internet.

If you think you might want to use press releases as a tool for expanding your business, but you are not sure how to write one, don't be alarmed. Here are some simple tips.

Your press release should not sound like an advertisement for your company.
Word it so that it sounds like a news brief.
Keep your press release limited to one page.
Only send your press release to the media related to the topic.
Your header needs to capture the reader's attention.
At the top of your press release, you put your header, contact information, and release date.
Use short sentences.
Double space between sentences for easy viewing of your press release.
Check, double check, and triple check your press release. Catch any grammar or spelling mistakes.

If you are not sure what to put in your press release, the possibilities are endless.
You may want to talk about upcoming events such as the opening of your new website or a seminar you are hosting. You can plug your website by talking about an award you have won. You can use a press release to talk about newsletters you are publishing or products and services you are giving away. If you've written a new e-book, this is the chance to mention it.

If you are still not sure of the best way to incorporate press releases into your marketing strategy, you may benefit from reading the press releases of other businesses. See what styles other people are using. What information are they putting in the releases?

Although writing press releases can seem at first glance to be an intimidating task, it is really a fairly simple one. This cost-effective element of marketing can be a fairly simple one to incorporate into your plan. Pretty soon you can be generating increased traffic to your website. This can lead to increased sales, which of course means increased profit for you. What do you really have to lose?


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