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I have just held a 3 day firesale on eBay and the results have been fantastic with just under $9000 in sales generated, and this was with no affiliates on board. For me holding a firesale on eBay is a fantastic way to generate extra revenue and here’s why.
Side note! If you don’t know what a firesale is in the Internet Marketing world it is basically a sale where you compile a collection of your existing products or resale rights/PLR products and sell them as a package at a reduced price offering incredible value.
Firstly, when you list anything on eBay the scarcity isn’t false so it works really well. I’m sure you have seen countless times sales pages that say the price is about to rise or the product will no longer be available only to find that after the deadline ends nothing happens. Using false scarcity or urgency tactics leaves a very bitter taste with any customer and it’s unlikely they will buy from you again. It also makes this tactic less effective as most people see it as false marketing or simply ignore the urgency claims.
However, when you use this tactic on eBay it can have an incredible effect as the countdown timer on eBay can’t be tampered with. This can have an incredible affect on sales as the auction ends. Especially if you have a limited amount of items for sale.
E.G. If you have 50 items for sale people can see this isn’t false and are more likely to buy, especially if you are selling a popular item that sells well. Once you get a few sales under your belt sales will pick up as people see time is running out.
The ‘me too’ effect also works brilliantly on eBay. When you start to make sales others see this and they feel they are missing out if they don’t buy. The beauty of eBay is all sales are recorded and are there for all to see. The more you sell the more people want to buy to be part of the in crowd.
One successful firesale can get you top rated seller status. That’s right, one firesale is all it takes to achieve eBay top rated seller status, if you sell other items on eBay this is an excellent way to boost your eBay credibility. Top rated sellers pay less in listing fees and are rated higher in searches and have the credibility that comes with having the top rated seller logo shown on their listings.
You can take advantage of eBay’s huge buyer traffic. Most people browsing eBay have their credit card in hand and are ready to spend. This is the best type of traffic you can have look at your offer.
You can easily upsell more products. When your product is delivered you can include even more items such as bonus CD’s or printed material that can promote more of your products or affiliate related offers.
So what’s the best way to hold a firesale for maximum effect?
First make the offer the best you can, compile your products and make the offer irresistible. Be sure to state the individual price of each product to paint a mental picture of the price in your prospects head. If you can mentally have your prospect add up thousands of dollars worth of products they will be ready to buy when they see your final price that shows massive savings.
After you have compiled your products add even more value. This could be additional services such as consultations, telephone support, additional training, interviews, etc. Again give each item a value so the prospect paints a mental value in their head.
Once you have your listing compiled you can run 2 types of auction. A timed auction that will expire after a certain amount of time, or you can set a certain amount of items for sale and let the auction run on a ‘good till cancelled’ basis till it sells out.
Good till cancelled auctions are better if you don’t have a way of driving additional traffic to the auctions, where timed auctions are more geared towards people who can drive traffic to get things rolling and tend to suit sellers who have a mailing list or have ways to drive traffic of their own to the auction, so if you don’t have a mailing list (BTW, you should have) go for the good till cancelled listing as the costs are low and you can set it and forget it. Just set your amount and let it run till you sell out.
Always offer free shipping and ship worldwide. Offering free shipping gets you a better seller rating and instills trust in any potential customer, shipping worldwide opens your auction to a worldwide audience. Also be sure to ship any sold items promptly and always within 48 hours.
Holding a firesale on eBay isn’t hard to do and if done right can bring in fantastic results while at the same time enhance your eBay reputation, so if holding a firesale on eBay isn’t something you have thought about in the past why not give it a try. If you do I’d love you to share your results and let me know how you get on.
As always your comments and questions are welcome. Also, if you would like me to put together a series of training videos showing you exactly how to set up and run a firesale let me know by replying to this post and if enough people request it I’ll consider putting something together.