eBay For Your Small Business
eBay is the world’s foremost online marketplace. A place for buyers and sellers to come together and trade almost anything. It has over 200 million global customers and can offer your product and business the exposure needed to this huge marketplace.
How does eBay work?
In a nutshell, eBay works by giving a platform for a seller to list his/her products. The seller then chooses if he/she wants to accept bids only (auction-type) or to offer a “Buy It Now” (direct sale) option at a fixed price. In an auction, the bidding opens at a price the seller specifies and remains on eBay for a certain number of days. Buyers then place bids on the item. When the listing ends, the buyer with the highest bid wins. In a “Buy It Now” listing, the first buyer willing to pay the seller’s price gets the item.
As stated in the above, eBay is more than an auction site. Although it started as such, a common misconception especially among businesses is that eBay is purely an auction site mainly used for trading used goods. Hence, you won’t see that many businesses taking advantage of the eBay platform. A lot are on the sidelines, losing out to their more online savvy competitors. The fact is, according to estimate, 60% of all transactions are on “Buy It Now” items and a lot of them are also brand-new.
How can your business take advantage of eBay?
With eBay’s continued growth and its huge membership base. Smart businesses can take advantage of this sheer size, by listing their products, which would in a way indirectly promote them to eBay members. If you have a new product, offer it on eBay; include a link to your website and give additional information about it. This way, through the listed product, you can drive people to your website, make them aware of your other products and your business as a whole. In this way, eBay has become another advertising channel for your business.
Another way is to think of eBay as an online sales channel for your business. For those who don’t have a dedicated e-commerce website yet, you can test the waters by starting an eBay Store. For those who has an e-commerce site, you can offer products from time to time at eBay and think of it as an additional sales channel. eBay is the best place to sell excess inventory or end of lines.
This has been a short introductory, and to sum it up, eBay offers your business an opportunity to open up a new route to market quickly and cost effectively, increase brand awareness and grow market share.
For further INFORMATION or to Signup, visit them at Ebay for Businesses.
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