pricing

All posts tagged pricing

Not Everyone Searches by Lowest Price

by trueproductions on February 11, 2015 No comments

shoppingfrenzyIt is all too easy to see things from our own view instead of thinking outside of what feels normal for us.  I myself am a frugal, penny pinching shopper!  Trust me, you don’t want me as your customer, I’m cheap!  Not that I won’t spend money if the item is something that has value, appeals to my emotions, or is an absolute must have and I don’t have time to shop around.   My point is this, of the millions of people shopping online these days,  it is important to determine who you want shopping from you.

One of my mantras is to niche.  I will continue to say this as it becomes even more important in the growth of an online business as more and more people start to sell and businesses come onto the online retail platforms.  It can be a difficult concept to get one’s mind around, especially if you come from the days where you could list just about anything on eBay and it would sell well.  With the inception of the Cassini search engine algorithm this is no longer the case.   Search engines now are designed to anticipate what the buyer is typing in and give suggestions.  eCommerce search is designed to bring the most relevant results back to the potential buyer in order to have the best chance of conversion, a sale.  With eBay, the more niched you are, the more love you will get from the search engine algorithm.

eBay search is not the only reason to have a niche.  In a sea of potential customers, the type of bait you are putting on your hook is going to be the difference between attracting and catching a marlin or a minnow.   Now I am not saying there isn’t a market out there for bargain shoppers and customers looking for low priced goods (minnows).  What I am saying is, if you don’t have the time to source, photo, list and ship those lower priced items in such a volume as to bring you the income you desire, then you have to cast your line out there for the marlins!   Selling higher priced, higher profit margin goods results in less of the “busy” work.   These customers are not interested in price shopping.   Time is precious and they want to use it wisely.  Would it surprise you to know that these types of customers sort by Highest Price First?  Hard to believe, but yes!  There are thousands and thousands of people who will look for quality and perceived value based on pricing.

This is where you need to decide who your customer is and what you want them to buy from you.   There are thousands of potential niches just waiting to be tapped into.  There are niches within niches!  Look at ladies shoes for instance.  There are $10 pairs of shoes for the minnows, but there are also $3,000 pair of shoes for the marlins!  There are shoes for professional business women, shoes for college goers, shoes for fun night out on the town…  see where I’m going?   Choose who your ideal demographic of customer is, in fact, create that ideal customer with a name and a face and a life…   market to them!

Marketing… the last point I will touch on with this.  When you define who that customer is, you will have a clearer understanding of how to market to them.  When we put out too many mixed signals it doesn’t send the right messaging to that ideal buyer.  Trust is a big factor in making online buying decisions and the more consistent your messaging, the more likely you will “reel them in”.   Just imagine you are in a sea filled with beautiful marlins and you throw out a worm on your hook.   Not going to be real effective in catching the marlin is it?

Need help finding your marlins?  Schedule time with me and we can take a look at your niche ideas together.

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trueproductionsNot Everyone Searches by Lowest Price

How Do You Price a Pair of Gucci Shoes?

by trueproductions on January 7, 2015 2 comments

guccishoes2One of my coaching clients found these awesome Gucci fur shoes in a local thrift store.   Gucci is one of those designer brands that has some skyrocketed pricing and so she asked for some pricing advice.  Here’s a quick video to demonstrate my research and pricing technique – you can use this on anything you are listing!

 

Just click here to view.

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trueproductionsHow Do You Price a Pair of Gucci Shoes?

Stop Giving Your Stuff Away!

by trueproductions on July 3, 2014 7 comments

staring cows I have to say it… sometimes even yell it from the roof tops, “stop giving your stuff away!”  I see it over and over and over again, eBay sellers who do not value their time.   Even if you acquire your inventory for free you still have an investment.  It takes time to list, photo, and ultimately package and ship the items you sell.  Are you worth minimum wage or less?  I hope you did not answer in the affirmative!

Supply and demand are a curious thing.  Even if yesterday there were 15 purple widgets for sale at $14.99 each or less, but they all sell and now you are the only one with a purple widget guess what?  You don’t have to sell yours at $14.99 you get to charge more!  Perhaps $19.99 because until someone else is able to source and list some more purple widgets you got the only one (yes I know that was bad grammar but it’s how I talk!)

The more unique, rare or hard to find the item you are selling is, the higher you can put the price.  Now I am all for staying within a reasonable expected selling price, but stop cheating yourself out of healthy profits.  If the going rate for, let’s say, True Religion jeans is $50, why on earth would you price yours at $25?  I know I know, you saw some other seller price them that low and sell.  Well guess what?  They sold for that because that’s all they asked!

Honestly, this is one of the hardest concepts I find eBay sellers struggling with…pricing.   The fear is that if you price high no one will buy it.  Guess what?  That happens!  The beauty of it is you can ALWAYS come down but once you sell it to cheap you don’t get a second chance.  There are no do overs for things sold too cheaply!   Here’s my pricing advice and the way I’ve been doing it for years:

  • Sort completed results by highest first and see what the highest realized prices are for your item or similar
  • Check active listings to see who else has your item or like item for sale and at what price
  • Price your item in the top 10 percentile – not the highest (unless you are the only one) and definitely no where near the bottom!
  • Check apples to apples – in other words are they offering similar value added services such as Free Shipping, Best Offer, 1 day handling (ps… did you know there is a new app in the eBay app center just for this?  Check out the Profit Predictor.

One of the fastest ways to increase your ASP, your profits and lighten your workload is to make sure you are pricing your items in such a way as to remain competitive but not be the cheapest seller out there for any particular item.  Nothing upsets me more than to see a “race to the bottom” mentality in pricing.  There are good customers out there who perceive value by price.  Don’t let them pass you buy and go looking for a “better” seller!

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trueproductionsStop Giving Your Stuff Away!

The Danni App Academy Gold Level Community Call – June 4, 2014

by trueproductions on June 6, 2014 Comments Off

In this call: 

  • Pricing the Danni App way
  • Pricing Help Murano Vase
  • Keyword Help Needed
  • How Does Someone Find Me?
  • Connecting with the Appsters
  • Buyer Requirements
  • Get Ready!

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[box]If you are using a standard desktop or notebook computer, use the following link to view the webinar. For other devices, see link to Flash version further down.[/box]

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trueproductionsThe Danni App Academy Gold Level Community Call – June 4, 2014

Exclusive Webinar – November 27, 2013

by trueproductions on November 28, 2013 Comments Off

Here is Danni’s webinar from 11/27/2013.

In this webinar: 

  • Why Won’t This Sell?
  • Pricing for Auction
  • Calculating Shipping on Heavies
  • Fast and Free
  • Returns and Refunds
  • What if Santa is Dirty?
  • How to Sell These Glasses
  • Men’s or Mens?
  • Tune Upp Homework

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[box]If you are using an iPhone, iPad, or other type of device that won’t allow you to view this video, try the link below![/box]

[gn_spoiler title=”Click here to view Flash Player version!” open=”0″ style=”2″]

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trueproductionsExclusive Webinar – November 27, 2013

Exclusive Webinar – July 3, 2013

by trueproductions on July 6, 2013 Comments Off

Here is Danni’s webinar from 7/3/2013.

In this webinar: 

Part 1:

  • In part 1 we cover if an eBay store makes sense or not.
  • Having more than 1 store? Good idea?
  • Displaying keywords in your Store header.
  • Listing templates

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Part 2:

  • How long to leave something listed before tweaking or changing it.
  • An items that needed some description and pricing help.
  • An Appster needs newsletter ideas.
  • VeRO – what is it, what to do about it.

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[box]If you are using an iPhone, iPad, or other type of device that won’t allow you to view this video, try the link below![/box]

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Part 1:


Part 2:

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trueproductionsExclusive Webinar – July 3, 2013

Exclusive Webinar – How to Research and Price Your Ebay Listings

by trueproductions on April 24, 2013 Comments Off

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Here is Danni’s evening webinar from December 12, 2012, “How to Research and Price Your Ebay Listings”.  This webinar is free to you as an Appster – we hope you enjoy it!

Join Danni as she shows you how to research, identify and price items on eBay. Gain confidence in being able to buy those items for bigger risk but great reward!

She shows you the tools she uses including current eBay listings both active and completed as well as services such as Worthpoint and Terapeak. Learn to find all you can to maximize your potential profits and make the big money selling on eBay!

Let Danni unlock the mystery of finding out the best way to list those crazy one of a kind items and how to set your pricing.

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trueproductionsExclusive Webinar – How to Research and Price Your Ebay Listings

Exclusive Webinar – February 27, 2013

by trueproductions on March 2, 2013 Comments Off

Here is Danni’s webinar from 2/27/2013.

In This Webinar:

Part 1:

  • We discuss accounting including why you need to keep track of income and expenses and spreadsheets for tracking inventory
  • Watch Danni create listings, how to use the sell similar and streamline your listing process
  • International shipping costs
  • Glass – EAPG is it Early American Pressed Glass or Pattern Glass?  American Brilliant and what the points mean.

 

 

Part 2:

 

 

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trueproductionsExclusive Webinar – February 27, 2013

Exclusive Webinar – February 20, 2013

by trueproductions on February 21, 2013 Comments Off

Here is Danni’s webinar from 2/20/2013.

In This Webinar:

  • In this class I show you how to grab a url through GoDaddy and point it to your eBay Store
  • A little refresher on Research and Pricing and how to find the webinar focused just on that!
  • We review Sandra’s eBay store –
    http://stores.ebay.com/Carolina-Pickers-Resale

 

 

 

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trueproductionsExclusive Webinar – February 20, 2013

Perfectionism Syndrome?

by trueproductions on January 28, 2013 Comments Off

ImageThis week in our Behind the Scenes webinar we discussed Perfectionist Syndrome.  I see so many eBay sellers getting stuck on this and actually costing themselves money!  Wanting just the right pictures, just the right price, or just the right keywords… sound familiar?

ImageDo you have the perfectionist syndrome? Just answer these questions:

1) Do you find that most things you do don’t seem to be quite good enough? Even once getting the item listed you worry about the price, the pics or the title?

2) When someone says that’s an awesome listing, do you tell him or her everything that you believe is wrong with it?

3) Do you feel defeated even before you begin listing?  Do you tell yourself secretly, “I will never be able to get the price other sellers get, so why bother?”

ImageAnswer to question #1)

If you answered yes to question # 1, you have a mild case of perfectionism. Nip it in the bud. Never think of something you listed as not good enough.  That is setting you up for failure. Good enough is ok!  Rid your mind of self-criticism. Believing in yourself increases your ability to create even better listings.  Winning begets winning!  Think of yourself as a winner. The rest will come naturally.

Answer to question #2)

Did you answer yes?  Better watch out. You are a moderate perfectionist.  Begin to change your thinking, now!  When you get a compliment try to believe it. Never put yourself down. In essence you are the one who will believe the negatives, not your admirer. They will not change their opinion, but they will wonder why you are so insecure. You will never be able to convince yourself otherwise if the critique is coming from your mouth.  Continue it this mode and you will face disappointments over and over.

ImageAnswer to question #3)

Is your answer yes?  You are a full-fledged perfectionist.  The world is not perfect.  What makes you different?  Do what ever it takes to change your negative mind set.  No one is perfect. No listing is perfect!  May I introduce you to Seymour, spelled (see more)? Open your eyes. Take a good look around you.  Where is the perfection?  The only one who will lose from the obsession to be perfect is you.  Here is a surprise.  Start by telling yourself twice a day that it is okay to be just a little under your expectations. You will be surprised at how much better you will feel about your work.

ImageHaving your listings be good enough is ok!  Have confidence in what you know.  The fact that you are reading this newsletter tells me you care about your business, want to be successful and are willing to learn.  You know that puts you miles ahead of the average seller on eBay right?
 
Make sure you celebrate your accomplishments with things you love doing.  When you do this, you’ll find you’re more relaxed, don’t focus on being perfect so much, have a lot more fun and you actually get more accomplished in less time and more profitably.
 
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trueproductionsPerfectionism Syndrome?