Using Ebay Buy it Now - Fixed Price Listings
Boost Sales and Start Selling More on Ebay with the Fixed Price Buy it Now Format
The buy it now feature has been around on Ebay for some time, but used correctly, can tremendously increase your sales from your store. Many customers don't want to wait for the auction to end! Advertise the fact and get buyers to visit your store, promise quick delivery, and you'll gain buyers. Also effective is the fixed price format, which is buy it now only, common in Ebay stores. Read on for suggestions on what you can do to properly utilize this format to move inventory quicker and profit more.
Utilize Buy it Now and Fixed Price Format Auctions to Move Inventory Fast
Increase turn around time and give buyers the convenience of a fast purchase
Using Buy it Now
The argument often brought up is that you can sell yourself short with the BIN option. If the auction is cut short, you may lose extra potential bidders and higher end prices. On the other hand, you may be able to relist the same item if you have duplicates right away instead of waiting for the auction to end.
Auctions are an effective and necessary way for eBay store owners to advertise their eBay stores. Store listings do not show up with the "core" listings. "Core" listings are fixed-price and auction listings. In exchange for paying much less for store insertion fees, store listings' visibility are very low.
It's up to you, the store owner, to really generate traffic to your Ebay store.
This is where your auctions and fixed-price items come in. Place several well-placed links in all of your eBay auctions directing them to your eBay store, with messages indicating why they should visit. Unfortunately, you cannot place keywords of other brand names that you carry in your eBay search description. This is not allowed and your listing will be removed for "keyword spamming." Don't even try it, eBay means business and will have no problem removing your listing!
How much is it worth?
Ultimately, it depends on the individual item whether it applies that you should use the buy it now option.
If you are very uncertain what your item is worth, don't include a buy it now price.
If you are very confident in the approximate end price, price the buy it now reasonably high. This creates a perceived value for your item and sets the precedent for bidding. For multiple items, you can try using the "fixed price" format, which is buy it now only, no bidding. Space these listings apart in time to have greater visibility on eBay, and of course, add links to your store and other items.
Time your listings to when your core audience is by their computer
Think of when your typical buyer is by their computer and base the auction around that to start.
Tell Customers How They Can Buy it Now in your Store
Build traffic to your store by utilizing subtitles and driving customers in
Think of the auction format as the classic, traditional way for buyers to get a deal on Ebay. It's always going to be around, and customers love to find a great deal. Many people don't want to wait for these auctions to end, and want to get on with their lives. That's where buy it now comes in.
An effective method to drive traffic to your store is to entice them by linking to your store (or store section/item, if you can) item. Tell them that the item can be purchased right now with free shipping in your Ebay store. Price the buy it now price higher substantially, and again, think of the auction format as an advertisement for your store. If the item is in high demand, you'll get plenty of customers using the buy it now option/fixed price format from your store, which will save you money on fees. AND, another benefit of having buyers buy the item at a fixed price is that the high price will be in the completed listings. Higher sales prices on completed listings will definitely drive up the ending price of that auction item that's still up and running. I suggest to start the item cheap. Don't worry, if you have enough of the same item, you'll make the money back in all of the profits from the other buy it now sales.
Link to your store, again and again!
In every auction, link to your store. If you can link to a specific product or section, even better. Using offers like free shipping and "2nd ships free" will entice more buyers.
The Little Red Book of Selling - Learn the art of selling and the mindset of the buyer
"This isn't just a red book; it's a Red Bull of high-energy sales tips & counsel. " -- David Dorsey, The Wall Street Journal. No matter what you sell, there's a piece of the marketplace waiting for you out there... you just need to find it, and then you need to get into the buyer's head. That's just what author Jeffrey Gitomer does in this book, the Little Red Book of Selling. No more excuses, no more lost customers, just sales.