Creating and managing an eBay business is all fun and games until a business owner decides to take things more seriously. My Business discusses some of the things business owners should consider before taking their eBay business to the next level.
Delving into the world of online selling on eBay is a unique experience. But there will always come a point wherein business owners will have to decide whether to expand and devote more time to develop their eBay business or to keep on doing it as a hobby.
Here are some considerations to keep in mind for business owners who want to take their eBay business more seriously:
- Identify long-term goals
- Focus on a specific niche
- Expect increased site traffic
- Invest in fraud protection
- Establish solid relationships with customers
Identify long-term goals
Gearing up for a possible expansion means that, at this point, business owners already have a clear vision of what and how they want their business to look like in the long run.
Is the business aiming for maximum visibility and a strong following on eBay? Do business owners want to dominate their specific niches and thrive in it? These are some questions that business owners need to ask themselves before deciding what to do with their eBay online selling business in the future.
This is also a very ideal time for business owners to consider going beyond their online business by establishing a physical presence outside of the internet.
To start off, business owners can explore setting up shop and selling their wares in bazaars, flea markets, weekend markets and community fairs. Taking an eBay business to the next level should involve diversification of the business operations as well.
Focus on a specific niche
Starting out as an eBay seller is fun since business owners get to sell a variety of products to a variety of customers and still get optimum returns. However, if a business owner decides to take their eBay business seriously, they should start focusing on a specific category and sell products that are within that niche.
If business owners have no idea of what specific niche to focus on, it is best to go with whatever it is they like doing as a hobby. Love cooking? Consider specialising in cooking and baking equipment. Into DIY? Set up an organic handmade cosmetics shop. Categories can be anything from clothing to cosmetics to sports gear.
What’s important is that business owners must be able to find a niche they’re comfortable with and establish their business as a go-to store for their chosen category.
Expect increased site traffic
As the business starts growing, business owners should brace themselves for increased site traffic—as more customers go to the eBay business site, more customers will patronise the products.
At this point, business owners should consider setting up a separate website for the business instead of exclusively relying on eBay as their marketplace. Having a website will not only drive up sales but will also give customers more options when it comes to purchasing products.
Business owners should instead take advantage of this traffic surge by creating high-quality and engaging website content and investing in search engine optimisation (SEO) strategies to increase the visibility of the business.
If the eBay business expansion goes well, it is very likely that the business’ eBay site will earn more positive reviews from customers and cement the business’ place in the site as one of its highly recommended sellers.
Invest in fraud protection
Business expansion is always a good thing for business, but business owners also have to keep in mind that the occurrence of fraud and other malicious threats increase along with the business.
Business owners should invest in fraud protection to safeguard the business against malicious entities who may be out to cause the business harm. Luckily for business owners, eBay has fraud protection and fraud dispute features that can be used in the event of fraudulent transactions.
If a business owner thinks that a specific transaction might be fraudulent in nature, they can simply lodge a fraud complaint on eBay.
In order for a business transaction to qualify as fraudulent, eBay requires that it should be any of the following:
- The buyer attempts to transact or has paid for an item using a stolen credit card
- The buyer sends an invalid, withheld or denied credit card payment after the buyer ships the sold item
- The buyer sends a check that is void or could not be cashed by the seller
If any of these three things apply to a specific transaction, business owners may successfully file a complaint with eBay. eBay will do the necessary actions needed and, once the complaint is received, could prevent the buyer from making any more fraudulent transactions within the website.
Establish solid relationships with customers
It is definitely a good sign for any business if the customer base grows alongside with the business. Customers are the life and blood of any business, which is why it is crucial to make sure that a loyal customer following is on the horizon for the business.
This can be done by providing consistently good customer service, creating frequent promos and giveaways increasing customer involvement and by making sure that customers know that they are being appreciated by the business owner for continuing to patronise the business.
If eBay business owners decide to follow these pointers, their sales are most likely to go up and the business will surely expand healthily to allow and achieve its long-term goals.