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You Can find out how well your competitors are doing - on EBay!
In fairness, it’s most useful to people that sell stuff online - because
you can literally see how well your competitors are selling.
But…as a business, you BUY stuff don’t you?
Well, if you can see that people selling the stuff you either want to
buy or invest in are struggling then you can expect better prices and service.
After all - it’s simple research.
How do you do it?
Simple - you checkout the lifetime feedback ratings. Even if you don’t
have a specific competitor you wish to check out, you can simply search for
the products that you are looking for and see who the key players are.
The trick is to make sure that you can see the amount of feedback being given about specific product types over a long period.
If you can see that the rate of feedback has dropped then - all things being equal, the ebay seller is simply selling LESS of that item over time.
You can of course measure this against other sellers and see if there is a pattern.
It’s a bit like looking at the growth-rings in a sawn off log - you can see the tree’s rapid growth years and years of slow growth.
Naturally, there are some items that are seasonal and need to be factored in (common sense)
but if you are selling widgets and feel as though you have been struggling recently - or indeed booming then this is a quick and dirty way to see how everyone else is getting on.
The one good thing about Ebay of course is that it’s great for makret research, price testing, consumer feedback etc - simply because it has the sheer volume of traffic.
Far too many people I speak with feel Ebay is for selling junk or that it’s ‘beneath’ them somehow. It’s a big mistake I feel as you can use Ebay a lot to develop your business
- without ever buying or selling anything necessarily.
Would you like more marketing tips and some real, practical help from a company that’s been doing this since 1998 and generated over £40 Million on behalf of it’s clients?
Register today at http://www.mklink.com/getstarted
‘Till next time,
Mike Knight - MKLINK