How to Increase eBay Sales Fast – Even for Beginners!
Transcribe of “How to Increase eBay Sales Fast – Even for Beginners!“
Awesome, yeah, thank you. Thanks, Olivia. Thanks, Graham. Awesome. Okay, well first welcome, everybody. I hope everybody’s safe and well. We’re going to go tonight through how to increase eBay sales fast, even for beginners. And I’m going to try and do as much Q&A as possible tonight. We have got a lot of people tonight. I’ve got a lot of content, so we might not get through everyone’s questions, so apologize for that, but I’ll do my best, but we want to get through a lot of content tonight.
How to Increase eBay Sales Fast
So, let’s rock and roll straight on into it, with my reading glasses. Here we go. Find out that once you hit 50 or once you hit 40 you got to, your eyes start going downhill, so now I’m on reading glasses. Anyone’s got any questions as we go through, just type them in. And I’ll do my best to get through as many as I can. Okay, so welcome, everyone. It’s great for everyone here. I also look forward to sharing some information with you guys, Q&A. Now, for the questions that come through, we’re going to have on here. We have some newbies, and we also have people that are very experienced. Who have their own full-time businesses.
I also look forward to sharing some information with you guys, Q&A
Now, if you are a newbie, and you hear some questions that come through. And you think, “Oh, my God. “I don’t have a clue what they’re talking about,” don’t stress about it. You’ll get there. It’s all about the baby steps. And you know, even your full-time seller, we all started off knowing nothing. We’re all born with none of this information, so we all had to learn. ‘Cause one thing I hear a lot is people will say to me, “Neil, “I’ve never, ever this before,” and, hello, none of us have.
All right, so for those who don’t know much about me and my story. Basically, I started off, I’ve been in business now for over 30 years. I’ve been selling online for over 20 years. We started selling used items from home just as a bit of fun, as a hobby. And then it turned into selling new items. We started in Sydney. And then we moved up to the Mid North Coast, New South Wales, to run the whole thing these days from a farm. And we have no staff on the premises. We have no stock on the premises. Everything is done virtually.
We’ve done these businesses with eBay and Amazon in many countries
So it’s all done virtually. And we’ve done these businesses with eBay and Amazon in many countries. Including obviously Australia, U.S.A., Canada, U.K., Ireland, Spain, and you guys can do exactly the same thing. All right, so if we use any words tonight that people don’t understand, please ask. Anyone also hears something from the Q&A, people are putting in questions. And you don’t understand what on Earth those words are, please ask. We can all get caught up with what we call the curse of knowledge when you’ve been doing things long enough, and I’ve been selling, doing this for over 20 years.
I’ve been selling, doing this for over 20 years
You do tend to use words in the industry that other people don’t know. And it’s the same with everybody else, whatever industry that you’re in. It’s easy to use words where other people don’t understand. And for the newbies out there that don’t know is, I’ve never done this before. So, and like it says here from Thomas Jefferson, “If you want something you’ve never had, you must be willing to do something you’ve never done.” So it’s all about learning new things and stretching our brains a little bit. And it all comes down to this: the baby steps, the five-minute rule, the little baby steps. All right, so quick market update, what’s going on. And obviously it’s a very interesting time that we live in.
Most people would know that online sales have gone pretty much ballistic
Most people would know that online sales have gone pretty much ballistic. Basically we have a captive market. People are staying at home. A lot of bricks and mortar stores are closed. Many of them, unfortunately, will never reopen ever again, so it has been a totally captive market, and a lot of people would know this. Even a lot of suppliers have got low on stock and run out of stock of certain items because of the huge demand that there’s been.
We’ve seen some items increase in sales by over 400%
We’ve seen some items increase in sales by over 400%. And I’m hearing that back from my own coaching clients as well. So just to a little bit of an overview of what has been going on. We all know about the toilet paper issues and the hand sanitizer, that kind of stuff, and there’s been a lot of things that, but people get bored, and people start buying. Not just buying things that they have to buy, but they bored and they buy other things as well. But also this little picture is good because it shows here on the bottom other things that sales have dropped off, and things like luggage ’cause people aren’t traveling obviously, briefcases, formal wear, of course. People aren’t going out.
Dropshipping is that we can very quickly pivot them to what sells well
All sorts of stuff. So, and that’s one thing I really like about dropshipping is that we can very quickly pivot them to what sells well. What’s going on? You’ll see that gym equipment has gone ballistic. It’s bread machines, all that kind of stuff. All right, so sales since the COVID-19, online sales have obviously really taken off because of course, we have a captive market. And I expect that to stay.
Last 20 years online sales just keep growing, and growing, and growing
Like we, obviously, for the last 20 years online sales just keep growing, and growing, and growing because more and more people realize it’s a lot easier just to stay at home and just get your phone out, get on your computer, and order items. And these days we’re seeing over 70% of items being bought from smart devices. So today I really do believe it is the glory days, and COVID-19 as more people than ever are purchasing online, and some items are over 400% growth. Now tonight I’m going to be showing you all different ways of making, increasing eBay sales, and the main thing here is to focus on is there’s no guessing.
Everything I do and everything we teach is all about having virtual assistants do the work for you
Everything I do and everything we teach is all about having virtual assistants do the work for you, and if the virtual assistants are doing it for you, then they can’t guess. If a virtual assistant is allowed to guess, there’s a greater than 50% chance they’ll screw it up, so there’s no guessing. Everything has to be set numbers. Everything’s yes or no, and there’s no but box. So tonight note these days you don’t need capital anymore. When I first started, we had to do all sorts of stuff to get capital. These days you don’t have to do that. You can do things like drop shipping where can build a business using less than 100 bucks. Also don’t need to leave the comfort of your house, and thank God, with what’s been going on.
Run the whole business from home
You can run the whole business from home. You don’t have to have couriers over. Don’t have to have people picking things up. You can just simply do not need to leave the comfort of your own house. You don’t have to have staff in your house anymore. It’s very easy to outsource every task. We’ve never, ever had this ability in the history of mankind that we could do this.
You can get virtual assistants from $1 an hour
And, of course, you can get virtual assistants from $1 an hour, and you use 10% of your profits to pay for those VAs. Tools and software which we have available now literally weren’t, just literally weren’t around two years ago. And it’s so much easier today. In the past I used to continually fly to Asia, to Cebu, to train my staff, to China to purchase items, Japan, et cetera. These days you don’t have to do any of that stuff.
You can just sit at home, or you can build a team who work overseas who can do it all for you
You can just sit at home, or you can build a team that works overseas who can do it all for you. So the path’s already been laid. We don’t have to do this stuff ourselves. Now just for some people who came on, who just, I’ve noticed, we’ve got people who just more came on then, if you have any questions as we go through, please type them into the question and answer box. I’ll do my best to get through as many questions tonight as I possibly can.
Buyers are spending more than ever, they’ve ever spent, ever in their life
Buyers are spending more than ever, they’ve ever spent, ever in their life, on online sales now, which is the glory days. And of course, they’re trusting e-commerce more than ever. And it’s always been like this. Over 95% of eBay sellers, it’s the same on Amazon, they just guess everything, and if you learn how to optimize these things, which is, and you guys have made the effort to be here tonight. If you learn how to do this stuff, you’ll beat over 95% of other sellers, who are not on this call tonight. All right, so, and there’s a huge reason we do it.
The difference between most products is always a factor of what we call six and 10
The difference between most products is always a factor of what we call six and 10, and what I mean by the six 10 is the difference between being in 10th place or number one is normally a factor of six times the sales. So six to 10 times the sales. And as you see on here, for one particular item the number one seller has sold, and this is in the last 90 days of this one item, 2,089 times, giving a total sales of 278,000. The 10th seller has sold only 659, which gives them a revenue of only 56,000. And this is very, very typical of what goes on. We call it the six 10 ’cause it’s between six to 10 times more sales if you’re number one compared to number 10. And it’s all about optimizing. It all comes down to just optimizing.
So the difference between a small and a large or small eBay or Amazon business and a large one is just how many proven items we have listed.
So the difference between a small and a large or small eBay or Amazon business and a large one is just how many proven items we have listed. And by proven I mean items that are selling over, and over, and over. And for those who’ve read my book, I use this tree a lot, and it basically comes down to every leaf on this tree is a product, and I think of every leaf actually as a business ’cause each, ’cause we add in new items, each product sells over, and over, and over again. So the more leaves, the more cash comes in. The more leaves, the more products. And they flow through like the branches and into the bank.
So the more products you have, the more proven products
So the more products you have, the more proven products, is simply, that’s the size of your business. If you’ve got one item listed, 10 items, 100, 1000, 10,000 items, that’s the difference of your business. And then, of course, we only use proven items or items that have already sold a minimum of twice in the last 30 days for our drop ship businesses, and for importing, only items that have sold at least 15 times in the last 30 days. Another way of looking at it is many streams make a river, so the more products you’ve got, the more money you make.
So tonight it’s all about how to increase eBay sales fast, even for beginners
Okay, so tonight it’s all about how to increase eBay sales fast, even for beginners. So now, because we’re going to be increasing sales, I’m assuming that you already have sales that you wish to increase. I’m assuming you already have a methodology to find in-demand items on eBay and to list them, so tonight it’s about how to increase those sales. Now, if you’re brand-new, and you haven’t got a methodology in place to find in-demand items on eBay and list them, I’m not going to go into that game ’cause I’ve already done that before, but here’s a recording of it. It’s free.
How to basically find products, and it’s basically eBay 101
It’s how to basically find products, and it’s basically eBay 101. And there’s a link to it. It’s all free. So I’ll be showing several free links tonight. So tonight’s about removing any guesswork. Don’t guess; only use data. And this is so critical. Only use data. Never, ever guess. Never, ever, ever guess.
You can outsource it to local services staff from a dollar an hour now
And the reason of course is all tasks must be duplicatable, so you can outsource it to local services staff from a dollar an hour now. And if you have to guess it, you can’t ask somebody else to guess it. If you guess you methodology to find products, then you’re going to have to get a staff member who has some ability to guess. And that can cost you a lot of money, and you’re not going to get someone for one or two bucks an hour who can do that. So everything has to be duplicatable.
Your VAs, always use 10% of your profits
And for your VAs, always use 10% of your profits, so that way every month when your business grows your profits grow, you can spend more money on your VAs, your virtual assistants. I’m not going to go into virtual assistants again tonight, as I’ve done it before, but again, here’s a free course showing how to find them, where to find them, how to train them. All right, so with eBay optimization, there are 124 optimization techniques. Now you only need to know one more than your competitor to beat them, only one more. And it’s kind of like that saying about how fast you need to be to outrun a lion. And of course, the answer is you only need to be able to run faster than your friend. It’s the same with this.
You only need to know one more optimization technique than your competitor to beat them
You only need to know one more optimization technique than your competitor to beat them. And one thing a lot of people get bogged down with is they stay bogged down with trying to master everything. They have to master Microsoft Word. They’ve got to master Google. They’ve got to master this and this, and then they get so bogged down.
They stay bogged down with trying to master everything
And it’s like this: Here’s a picture of how a fuel injection system works in a car. Now you don’t need to know this to drive to Kmart. You really don’t. Now, if you really have a fascination for how a fuel injection system works, awesome. Go and sit there at night in bed, and read a book about how it works. But you don’t, do not need to know that to drive to Kmart. It’s the same with this. You do not need to know all this stuff. So, just as if you’ve got an iPad. You do not need to know and to read a one-inch book. Or if you’ve got an iPhone, you don’t need a one-inch book to be able to use your iPhone.
You’ve only got to know what we call the 95, so 5% of most things is plenty
If you can do five things, make a call, receive a call, send an SMS, receive an SMS, and take a photo, you’ve pretty much got your phone cracked. And this is the same. You’ve only got to know what we call the 95, so 5% of most things is plenty. I got taught a long time ago by one of my coaches, Dan Sutherland, the 80% rule. Just get things 80% good enough and that you can over 10X your output if you just accept 80%. So don’t get bogged down tryna master too many things. And you’re going to see a few things tonight. We call these barriers to entry. And barriers to entry is when you’re, “Oh my God, “I’ve got to learn how to do this. “That’s scary.” Well, every time you go through one of these things it’s scary.
You get to the other side normally much quicker than you think you’re going to
You get to the other side normally much quicker than you think you’re going to. It wasn’t that hard after all. And you leave so much of your competition behind. So every barrier to entry is awesome because so many of your competitors will not. They’ll just stop, and that’s as far as they will go. So the more things you learn, the more competitors you leave behind. And like I said before, you may only learn one more optimization technique than your competitor, and you’ll beat them. And more barriers to entry, every time you see a barrier to entry, go through it.
The only reason we’ve had the success that we’ve had is I just keep doing the same thing over and over
The only reason we’ve had the success that we’ve had is I just keep doing the same thing over and over. All we do is eBay, Amazon, and our websites. That’s it. Every time I see a distraction, I ignore it. So that’s what I’ve been doing for a long time. That’s all. I’ve made more mistakes than the average person. So getting more sales equals optimization, so it’s all about how to get your listings to the top of the search results.
How to get your listings to the search results
So first of all, to know how to get your listings to the search results, you first need to understand how eBay’s search engine works. And eBay’s search engine is called Cassini. Now Cassini rolled out in 2014. It was just previously called Voyager. And Cassini works on four things. They’re called the four core values. And everything I’ll be showing you tonight all comes back to these four things. First of all, it is relevant. So is your item relevant? So when people search for something, is your item relevant to what they’re searching for? And Cassini’s done a great job now of making things relevant, just like Google does.
How to get your listings to the search results
That’s how to get your listings to the search results. I remember back when before Google was big, there were things like Dogpile, and AltaVista, all sorts of search engines, and you’d invariably search for something, and you’d get something totally different. You’d search for some reading glasses and you’d get a home loan. But then Google came out and started giving really relevant results. So relevancy is a very big thing. The next is value, and now you don’t always have to be the cheapest, but you’ve got to be on the money. So eBay’s not going to show, if the average price of something’s $100, and yours is $300, it’s not going to, obviously, show very well. So it wants to provide value to the buyer.
Trust and trust come down to how long have you been on the system for?
Trust and trust come down to how long have you been on the system for? What’s your defect scores? What’s your feedback rating? We’ll go through that tonight. Convenience. So if someone’s in, say, Sydney, Australia, and they’re not going to show a result from another seller who’s in, say, Italy up as high when everything else is equal because eBay realizes, or Cassini realizes that people want things quickly. So they’re going to attempt to show other sellers who are closer to that person, to that buyer. Everything tonight we go through will be all come down to these four things.
So everything we go through will be all come down to these four things
And the last one is Cassini is shopper-orientated. I remember back in the good old days, I used to go to Chicago in the U.S. and the U.K. and was off to all the eBay events, and it was all lovey-dovey and everyone was, “Yeah, we’re on eBay,” and everyone cuddles and kisses everybody, but then eBay changed the rules, and it started feeling like eBay doesn’t really care about the sellers.
eBay cares more about the buyers than the sellers
And it created a massive upheaval, and I’m not going to go into that, but at the end of the day, yeah, eBay cares more about the buyers than the sellers. And I’ll make hay with that because if eBay doesn’t look after the buyers, then there’s nothing for us ’cause what happened was sellers, sellers can’t ever since then leave negative feedback for buyers, ’cause eBay was finding that buyers were leaving the platform, and eBay didn’t want that to happen. So, yes, eBay cares a lot more about buyers than sellers, and that’s just the way it is, so we just have to suck eggs with that, but that’s the way eBay gives us a platform to make money on, so thank you, eBay. So I’m going to go into what we call the 16 times to rule.
What are 16 times to rule
And the 16 times rule is all about how we can potentially increase the sales of any item by a factor of 16. Now don’t get me wrong. I am not saying that we are going to, or you’re going to, or any one’s going to increase your sales by a factor of 16. That is not the point. The point is just to show how this works.
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