Proper timing on eBay maximizes your bids

Proper timing of a listing is very important to profit from your e-bay bidding.

 

Why?

 

Sellers spend lot of time preparing their listings with correct key words and proper descriptions. Most of them do not understand that they need to consider about timing and traffic flow. EBay traffic is not continues as expected. It differs from time to time, day by day and also by season to season. If you list your items for auction, and if the auction closes before a peak visitor time, you are not going to profit as you expected.

 

Understand when to list.

 

Items listed for seven days on a Friday, will close on next Friday closing time. Your items listed on Monday for three days, will close on Thursday.

 

List your Auction to end during a peak time or in a more constructive time. You are likely to get more visitors if your listing time is lengthier. Most eBay visitors search several times a weak. They do not buy at one go, instead they bid at the last moment of the auction ending time. Most bids are placed during the last thirty minutes. Your listing will also appear under “closing soon” section so you are likely to get more bids.

 

Peak time daily, is between 8.00PM and 10.00PM.  Speaking of peak visitor time weakly is during Saturday and Sunday. Most buyers by during Sundays between the times mentioned above.

 

Listing your item on Saturday to end on Sunday between 8.00PM and 10.00PM will reduce your long listing fee.

 

Why 8.00PM and 10.00PM?

 

According to research, most visitors from Eastern Time frame, brows auction sites during 8.00PM and if considering Pacific Time, it will be during 10.00PM. So if you list geographically, this will help you to decide the ending of your auction time.

 

 

                                  

Advertisements

Catalogue interoperability

This post relates to my previous post about “why you should have a catalogue”. 

 

Supplier Hubs is a supplier managed hosted catalogue interoperability service. They aggregate mass data from supplier catalogues, clean and decode those data into standard of other catalogues. After decoding, resellers can access supplier catalogues in a standard format.

 

Some resellers have complicated procurement systems that can access supplier data. Catalogue item master file will be automatically picked up and data will be arranged according to the reseller’s system instantly.

 

As a supplier, you can host your own catalogue and let your buyers access it online. This can also be automated.

 

 

 

 

Why should you have a catalogue?

A supplier’s catalogue is the central location for numerous other business activities inside an establishment. If you are a business selling computer accessories, without a catalogue it will be impossible to operate. Data of all the accessories and stocks you have is in the catalogue. You also need a catalogue to access the list of suppliers and their prices.

 

The problem of catalogues

If your business is a small supplier, creating and selling a specific variety of products in which you have specialised and take pride of, and you have two main customers who buy from you in bulk. They are your biggest customers. Your business relies on their buying your products.

 

Your biggest customer decides to put into practice, an electronic trading system. They send a letter to all of their suppliers, telling that, within a given time frame, all of their suppliers must be system compatible with their new proven practise. That means, you must provide your catalogue data in accordance with the customers given format.

 

You are now afraid of loosing your largest customer; and you invest several thousands of your capital designing an e-catalogue that complies with the customer. You still communicate with the other customer via fax and phone.

 

Meanwhile the second customer decides to create a new e-buying plan and you will be informed that they too will be requiring you to create your e-catalogue compatible to their system. Their system is different and cannot comply with the system you have with the first one. Now you are shattered and will have to make a very difficult choice. 

   

If you say no, you will loose an important percentage of your sales. You are not able to say ‘yes’ either. Now you will have to invest a significant portion of your capital to make a catalogue matching to the second buyer.

 

Sometimes they will again require you to keep an additional list of your product records on their own systems through a hosted solution. This is not possible, with you constantly updating and re – keying your product details. It will be a nightmare and lot of errors are bound to happen.

 

So for this, comes a solution. ‘Catalogues must be able to interoperate’.

 

 

 

 

Answers to Success

In one of my previous articles, I asked three questions.

• What is the most important time?
• Who is the most important person?
• What is the most important thing to do?

I would like to thank Surjit, Andrew , Asis, Himarticles, and Mbhave who took the trouble to answer my questions. These questions play an important role in real life. And answers to them are secrets of success. Many people have answered in many different ways to these questions. You may criticize my answers or provide alternative suggestions. You are always welcome.
Let’s take the first question:

What is the most important time?

Almost everybody answered this question in the same way.
Now is the most important time. We cannot go back to our past. it is all said and done. We do not know what future will be, whether it will be there or not. The only time we have is now. Present moment. Do not delay to do the right thing what should be done now. It gives you, happiness, motivation and success.

Who is the most important person?

Almost everybody answered I am the most important person. Surjit said “you are the most important person”. Every time this question arise almost everybody answered I am the most important person. Well, in certain and most instants I am the most important person. The most important person is the person who is with you, right now. It may be your husband, wife, friend, business contact or any other person. Give your full attention and effort to that person. This is one success principle in nature.

What is the most important thing to do?

The most important thing to do is to care. Do everything with care. Care for what you are doing right now and care for the person who you are with. For an example if you are in a telephone conversation, care for the person who you are dealing with. A person who does something with extreme care always manages to succeed.

What is the most important?

Hi friends, I am a bit busy these days. I am trying to write at least two articles a week.
For the present, I would like to ask three questions. These questions will be important to you in your work and everyday life including business. Please write your answers in the comments area. This is not a challenge; I just want to know your answers. Please feel free to answer these questions

1) What is the most important time?
2) Who is the most important person?
3) What is the most important thing to do?

My good wishes will always be with you.

Tips to enhance your sales on eBay

There are certain criteria that will increase your popularity as a good seller. To get there it takes time and dedication. There are certain tips and tricks in the web to enhance your sales. If you follow these tips you will be able to win your customer loyalty. Customer loyalty is your key to success. These tips and tricks are as follows.

Take a good picture
A good quality picture can enhance your sales. Better the quality, better chance for a sale. Before uploading the image, take a look at it and ask yourself if I see this picture listed, will I be tempted to investigate? A good picture is one thing that will start earning the trust of your customers.

Clearly list the item
Describe the item in short sentences. Use bullet points. Do not make your bullet points into paragraphs. This will confuse the customer and draw attention away. Use bold and underlining only when necessary.

Be truthful and state the condition of the item clearly
Your customer will always trust you once satisfied. If you are selling an item that includes additional accessories, be sure to mention that. If you are selling software or related product, make sure you describe in what type of programmes it is compatible with. Always keep your tone positive and buyers will trust that their business with you will be positive.

Clearly state your terms and conditions
Always state your return policy. If your policy is no returns, put that in your return policy. Always win your customer by stating the truth. Do not hide anything. State the payment method. If your price includes the shipping cost, say no shipping cost. If you have not included the shipping cost, state that shipping cost will be added. And include a shipping cost calculator of some kind so that your customer will not get a shock when they see the final cost.

Include a currency calculator
A currency calculator is very helpful to calculate the actual amount a customer will be spending on his or her currency. Put yourself in the customer’s shoes and sure you will be really happy and confident to do a purchase.

Include shipping details
As described above; include the shipping cost, include the carrier that you are willing to use and describe whether you wish to insure the item or not.

Be flexible on payments
Always make sure that you provide multiple options of payments like PayPal, Cheque, Money order, Credit card and any other methods at your disposal so your customers will be at ease.

Careful packaging and shipping after payment
After making a sale, you have to maintain the customer’s faith. Developed customer faith will bring you sales many times and they will introduce others to your website also. Carefully pack the item and ship it as quickly as possible to reach the customer within the days promised. If your item is broken when it reaches your customer or you fail to deliver in time. This will be a disaster. Higher a good carrier and always take care in delivering the item.

Maintain a friendly relationship with your customer
When dealing with customers, you must always make sure that you send polite e-mails and your communication with the customer is maintained in a friendly manner. Buyers that have good buying experience will leave a positive feedback. Buyers who have had poor buying experience with you will leave a negative feedback and they will never buy from you. So be careful and always maintain a friendly relationship with your customers.

Investing your profits

As a business owner you know that it is essential to analyze your profit and loss statement for the month or year. Your accounting records will show your purchases, sales and other expenses.

Now you have to decide what you should do with your profits. First make a budget for the next month or year, you can roughly figure this out if you follow your previous accounting statements. A budget is just an indication how your expenses are going to be in future. Actual values might show a little difference, because you are preparing your budget based on assumptions.

Allocate the amount you will need to cover the budgeted expenses. It is always wise to allocate a little more than budgeted. Allocate some money to pay your bills and your personal use. The amount left is the money you should use to invest in order to improve your funds in future. It is better to make your funds grow than letting it stagnate in the bank. Why not invest in shares? When advising you to invest in shares, I am not telling that every person should do this. You must have enough funds and must be able to handle a loss in a crisis. Shares can be a risky investment some times. So please do not invest all your profits in shares. To be in the safe side deposit some in a bank.

There are several methods of investing money; usually people use bonds, securities and shares. Bonds and securities give a low return but they are safer. Shares give a quick return and easy to handle. But the risk is higher than other options. Let’s see how you can invest your profits.

You can find a broker to manage your funds. They will advice you on what stock you should invest. They are experienced and will always choose the safest options. But they can also make mistakes. Share value of a company can change due to Movement of the stock market, Political issues, Taxes and many more reasons. Some factors you cannot change.

Other method is, use your bank’s discount broker and do your investing yourself. Every bank has its discount broker. They also have their advisers if you wish to get advice. But you will have to pay them for it. You should do this only if you have a good knowledge of financial indicators and ability to assume a company’s growth. You have to be very vigilant. Read financial news every day, and keep a close look at stock movements. Before you invest in shares or other investments, be aware of the financial risk involved and make sure that you are able to accept that risk. Share prices can rise or fall rapidly.

The benefit of doing your investment yourself is, you do not have to pay a broker and your brokerage fee is saved. You only have to pay the transaction fee taken by the discount broker for doing your transaction. A discount broker is always quick to process your order while a financial broker will take a bit longer. If you hire a financial broker, you will have to pay brokerage fees and other fees that apply on investing. But, again safety must be considered first. You will have your own option of investing in this way. If you want a short term good return, you can opt for it and invest in a particular industry and if you have a long term goal, you can invest in a stable slow growing company. You always have your own choice of investment using this method.

How can you invest money yourself? I do not want to make this article longer. I will be here soon with the “How can you invest money yourself?” Meanwhile I wish you all the best.