The Turnover Principle
Download
1 / 13

The Turnover Principle Step Three: Strategic Selling! - PowerPoint PPT Presentation


  • 41 Views
  • Uploaded on

The Turnover Principle Step Three: Strategic Selling!. The Turnover Principle. Investigate to find out what sells and the profit you can make. Sell consistently and stay ahead of changes in the market. Find products from reliable suppliers with maximum profit margin.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' The Turnover Principle Step Three: Strategic Selling!' - dacey-potts


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

The Turnover Principle

Step Three:

Strategic Selling!


The turnover principle
The Turnover Principle

Investigate to find out what sells and the profit you can make

Sell consistently and stay ahead of changes in the market

Find products from reliable suppliers with maximum profit margin


Selling should start with strategy
Selling Should Start with STRATEGY!

  • High Volume: Listing Success Rate (LSR)

    Strategy: A higher volume of sales yields greater profit in the long run, even if the profit per listing is less. This strategy is great for bulk items.

  • High Profit: Average Selling Price (ASP)

    Strategy: A greater profit per sale yields greater overall profit in the long run, even if the conversion rate is lower. This strategy is great for small inventories or less common items.

  • Balanced: LSR x ASP

    Strategy: This strategy tries to strike a balance between increasing conversion rate and earning more per sale in order to get the greatest profit in the long run. This strategy is great for selling common items at non-bulk rates.


Strategic selling tips
Strategic Selling Tips

  • Expand Slowly and Cautiously

    • Some sellers on eBay readily attempt to sell anything you can imagine, however, it is often more profitable to focus in on something that you can specialize in and do better than any other seller.

  • Gauge Product Demand

    • Demand is the key to eBay business profitability.

    • Timing is extremely important.

    • Learning to pick a hot product before it becomes hot is a valuable skill that comes from knowing that market. (Research, Research, Research!)

    • High demand and low supply translate into higher prices. As demand increases, supply will eventually overtake it and prices will gradually move downward. At the end of a product’s popularity, liquidation stock in the market will cause prices to basically bottom-out. This will happen very fast, often in a matter of weeks not months or years.


More strategic selling tips
More Strategic Selling Tips

  • Gauge Product Supply

    • A careful analysis of the competitive landscape is always important before jumping into a new market. If the market is already saturated with sellers who have better pricing and access to product than you, you may want to look elsewhere for more profitable business ventures

  • Marketability

    • Clearly it won't matter what products you sell if your customers aren't buying.

  • Profit Margin

    • The best selling products won't earn a seller much if their margin is too small.

  • Some questions to keep in mind while selecting products for resale.

    • Would you buy it and use it yourself?

    • Can you see yourself getting excited about this product or service?

    • Would you sell it to someone you know?

    • Is there a real need for the product in today's market?


Selling strategy building blocks
Selling Strategy Building Blocks

Best

start time

Buy-it-now

Highlight

Keywords

Best

listing

duration

Best

ending time

Shipping

options

Bold


What is the selling strategy of my competition
What is the Selling Strategy of My Competition?

Analyze market factors and individual sellers in each category that have captured a large share of the market with fewer listings and then:

  • Imitate

    • Follow best practices that are working well

  • Innovate

    • Use research to surpass average market successes

    • Use research to anticipate market changes and react quicker than the competition.



Generate strategic selling goals
Generate Strategic Selling Goals

  • BETTER

  • BEST

Profit Margin

  • GOOD

Volume


Communication is key to long term selling success
Communication is Key to Long Term Selling Success

  • Start with accurate listings, efficient shipping, and fast response time to queries

  • Create a professional “About Me” page and direct customers there

  • Create a professional Webpage and direct customers there(links to a webpage are allowed from your “About Me” page but not from your listing)


Customer service is another key to long term selling success
Customer Service is Another Key to Long Term Selling Success

  • Answer questions in 12 hours or less

  • Use timely invoicing procedures

  • Expedite shipping & feedback

  • Establish clear, fair policies (e.g. returns, warranties guarantees)

  • Offer options whenever possible (payment/shipping)

  • Communicate, communicate, communicate!!!


Takeaways of the turnover principle
Takeaways of the Turnover Principle: Success

Correct Implementation of the Turnover Principle will allow an eBay seller to:

  • Remove the guesswork from selling successfully on eBay

  • Understand the market they compete in or hope to compete in

  • Make and implement effective strategic decisions

  • Develop on-target business plans & strategies

  • Researching, sourcing and selling is to remove the chaos of running an eBay business and replace it with sound strategies!


Please take some time to visit: Success

www.hammertap.com


ad