NOTE: This blog has moved to: http://www.HonestOnlineSelling.com
I get this question all the time. Sellers who don't like's eBay and Amazon's selling fees are always looking for other web sites to post their items.
But Amazon.com and eBay each have a tremendous amount of exposure to millions of buyers - and that makes their selling fees very much worth it, in my opinion. Other than Amazon, eBay, Overstock.com, and a couple others - there aren't many online marketplaces that a.) allow you to sell goods AND b.) have a huge volume of buyers
That's starting to change with at least three smaller marketplaces - which charge sellers up to 90% LESS than eBay and Amazon (and some let you sell stuff for free): eCrater, iOffer, and Bonanza (formerly Bonanzle).
I have used each of these marketplaces with some decent success, although Bonanza booted me - and some other sellers - off for reasons they're not disclosing. However, all of them are 100% legit and with plenty of buyers.
The cool thing about these smaller marketplaces is that they're Google-friendly. That means that if your item is posted to them properly, you should get some visitors/buyers directly from people searching for the item on Google. (Your success will vary of course, based on the # of people searching for your item, and the # of competitors also selling the item on the same marketplace, etc.)
For more on these marketplaces, you can view AuctionBytes; results of its second annual Seller's Choice ratings in the January 23rd issue of its AuctionBytes Update email newsletter.
One final note about these online marketplaces - sell some goods on at least one of them. I am a proponent of 'diversification': Diversify your product types AND diversify your selling venues. If you are only selling toys on eBay and someday eBay shuts down our account for whatever reason (it's happened), you will be able to jump to at least one other marketplace. This will keep some revenue coming in until you remedy the eBay situation.
Until next time,
-Do Great Stuff!
J.B. Malik, Founder
HonestOnlineSelling.com
Remarkable & Proven Ways to Make a Living with Amazon & eBay
Wednesday
The 3 C's You Should NEVER Do.
NOTE: This blog has moved to: http://www.HonestOnlineSelling.com
You've heard of the 3 C's of marketing, right? Contact, Connect, Communicate?
How about the 3 C's you should AVOID? I call it: Confuse the Crap out of the Customer. Your company or current employer is likely guilty of the 3C's.
Example: My previous employer (we'll call them RBA - Really Big Agency) shows this diagram (above/right) during client negotiations.
The diagram even has the uber-friendly name 'QueryMatrix'. Sounds like a game in the new TRON Movie.
If that wasn't enough, here's what accompanies the diagram:
"RBA provides innovative solutions within the areas of Digital Content Optimization and Consumer-Initiated Advertising. Our holistic Search Marketing methodology leverages four key strategies to connect your brand to your audience through queries. Each of these strategies corresponds with the intersection of Advertising and Content at the Point-of-Search and Post-Search. The RBA QueryMatrix helps marketers drive more profit from each Search Query by closing the loop from awareness to consideration to engagement to conversion. Click on each arrow to learn more about our Query Marketing Solutions.
Congratulations, You’ve Found RBA."
No: Congratulations, You've Confused the Crap Out of me.
What's wrong here?
Any agency - any company - must communicate the value of their service to their customer clearly and concisely.
Since I've left the agency world (last February), I've seen how ridiculous companies like RBA must look. They try too hard to be 'classy' (there's another 'C' word) when describing what they do. Their executives spend weeks huddled in their conference rooms, pontificating and blowing a lot of hot air around deciding what THEY THINK their customer thinks about them.
The end result? Lots of gobbledy-gook and 4-color diagrams. And a Customer Confused as Crap. Do customers REALLY want to "close the loop from awareness to consideration to engagment." Or do they just need to, um, I dunno, MAKE MORE MONEY?
So what can YOU do that's different?
Whether you sell widgets or marketing programs, DO THE OPPOSITE to your clients: Express your value to customers in 1 sentence, 2 maximum.
Here's an example:
"Tell me what you want to do. I'll automate it so you can make more money." - Mike Koenigs' Social Media Marketing Machines (Not an agency per se, but Mike provides marketing services to people like Tony Robbins and Paula Abdul).
Clear? Yes. Concise? Yes. Confusing crap? No.
Here's another one:
"Skills to the Pay The Bills." Jeremy Schoemaker's Shoemoney.com. Schoemaker is one of the most sought-after and revered Internet marketers today. His company trains people to earn a living by building robust websites and blogs and monetizing them, honestly and effectively.
Clear? Yes. Concise? Yes. Confusing crap? No.
So what about you? Can you say what your company does in 1-2 sentences? Tell me, maybe I can help you refine it.
Stay Classy, Internet.
-J.B. Malik, Founder
http://www.HonestOnlineSelling.com
How about the 3 C's you should AVOID? I call it: Confuse the Crap out of the Customer. Your company or current employer is likely guilty of the 3C's.
Example: My previous employer (we'll call them RBA - Really Big Agency) shows this diagram (above/right) during client negotiations.
The diagram even has the uber-friendly name 'QueryMatrix'. Sounds like a game in the new TRON Movie.
If that wasn't enough, here's what accompanies the diagram:
"RBA provides innovative solutions within the areas of Digital Content Optimization and Consumer-Initiated Advertising. Our holistic Search Marketing methodology leverages four key strategies to connect your brand to your audience through queries. Each of these strategies corresponds with the intersection of Advertising and Content at the Point-of-Search and Post-Search. The RBA QueryMatrix helps marketers drive more profit from each Search Query by closing the loop from awareness to consideration to engagement to conversion. Click on each arrow to learn more about our Query Marketing Solutions.
Congratulations, You’ve Found RBA."
No: Congratulations, You've Confused the Crap Out of me.
What's wrong here?
Any agency - any company - must communicate the value of their service to their customer clearly and concisely.
Since I've left the agency world (last February), I've seen how ridiculous companies like RBA must look. They try too hard to be 'classy' (there's another 'C' word) when describing what they do. Their executives spend weeks huddled in their conference rooms, pontificating and blowing a lot of hot air around deciding what THEY THINK their customer thinks about them.
The end result? Lots of gobbledy-gook and 4-color diagrams. And a Customer Confused as Crap. Do customers REALLY want to "close the loop from awareness to consideration to engagment." Or do they just need to, um, I dunno, MAKE MORE MONEY?
So what can YOU do that's different?
Whether you sell widgets or marketing programs, DO THE OPPOSITE to your clients: Express your value to customers in 1 sentence, 2 maximum.
Here's an example:
"Tell me what you want to do. I'll automate it so you can make more money." - Mike Koenigs' Social Media Marketing Machines (Not an agency per se, but Mike provides marketing services to people like Tony Robbins and Paula Abdul).
Clear? Yes. Concise? Yes. Confusing crap? No.
Here's another one:
"Skills to the Pay The Bills." Jeremy Schoemaker's Shoemoney.com. Schoemaker is one of the most sought-after and revered Internet marketers today. His company trains people to earn a living by building robust websites and blogs and monetizing them, honestly and effectively.
Clear? Yes. Concise? Yes. Confusing crap? No.
So what about you? Can you say what your company does in 1-2 sentences? Tell me, maybe I can help you refine it.
Stay Classy, Internet.
-J.B. Malik, Founder
http://www.HonestOnlineSelling.com
Tuesday
Hot Sellers This Xmas, and Some Duds
NOTE: This blog has moved to: http://www.HonestOnlineSelling.com
Hello, online sellers.
I hope you're wrapping up (literally) your Xmas shipments to customers and getting ready for at least one day off.
Today, I'd like to share my online retail hits and misses of the season/year with you. What was hotter than the camera flashes behind Rachel Uchitel? What fizzled out like Michael Vick's season performance?
(Keep in mind that these are from the view of a reseller (like us folks). What was a dud for us to resell still may have been hot in the retail-to-consumer market)
1. DUD: Sing-a-ma-Jigs. Remember the press was ALL OVER this product and it was predicted to be a hit? As of press time, some of these were being sold on Amazon for as little as $6. Nothing like the Zhu-Zhu sensation of 2009 (I remember my Amazon merchant price point of the brown Zhu Zhu's peaking at $60 each last year).
2. HOT (Every Year!). Talking Buzz Lightyear. Every year around Thanksgiving, Disneystore.com hocks their talking Buzz Lightyears for a super-cheap sale price of $14.99 to $19.99. I always pick up about 20 of the Ultimate Buzz Lightyears. Little boys DRIVE THEIR PARENTS CRAZY for the talking Buzz Lightyear and It's a hit every year. I sold all 20 for between $45 and $50 each (via Amazon FBA) and I just sold out (This is about a 100% profit margin after all expenses). MAKE SURE (next year) you buy the Talking Buzz Lightyear WITH the pop-out wings that light up on both tips (this seems to be a prerequisite for the die-hard boy fans of the doll).
3. HOT (Every Year Since 2008): The Dark Knight Stealth Launch Batmobile. This was released in 2008 only and it's a hard find. I buy these (new and used) throughout the year on eBay (via my arbitrage method) for $20 to $50 each. Every Xmas, mine sell for $50 to $150 each via Amazon FBA. Profit margin of 100 to 200% after expenses.
4. HOT: Used and/or New, Out-of-Production Board Games. Make sure these are 100% complete before you ship them to Amazon FBA and/or your customer. Yes, USED games can be hot sellers. I pay $3 to $10 for each of these at thrift stores, yard sales, and/or via online arbitrage, throughout the year. They're actually hot sellers regardless of the time of year. Examples:
Mall Madness: Used prices via FBA peaked for me at $80.
Acquire (very HTF) sold by me via Amazon FBA for $177.95 (it was new and sealed)
Cranium Cariboo (and other various used out-of-print games by Cranium) peak at about $40 to $90 used.
...Remember, these were picked up by me for $3 to $10 each!
5. HOT: Wisecracking (talking) Spiderman. I bought an armload of these from ToysRUs.com about a month ago for $14.99 each. They've been selling via Amazon FBA for $34.99 to $49.99 (profit margin of 100%-200% after all expenses/commissions). With the NYC Broadway Show of Spiderman in, ahem, full swing, some Spiderman toys will continue to be hot and I suspect this will be one of them, as it's sold out practically everywhere.
6. DUD: Wow Wee Paper Jamz. I REALLY expected this to take off, but it didn't (I'm lucky I didn't buy any for reselling). Brilliant product, but trying to compete with Guitar Hero, et. al. is difficult. Great execution, but tepid buyer's market.
7. DUD: Squinkies. Another one the press was all over in Oct./Nov. You can still find these on Amazon for $3.99 a pack and up. Not sure why this didn't explode either, but much like the Sing-a-ma-jigs there was a ton of hype and just not explosive demand.
Do you see a pattern above? My hottest sellers were from time-honored brands with a lot of heritage: Disney (Buzz), Batman/DC (Batmobile) and Marvel/Spiderman (Wisecracking). I call these toys 'evergreens' because I can count on them yearly to bring me in a profit.
What were your HOT Sellers? Duds? Post away (below)!
Stay Classy, Internet.
-J.B. Malik
Founder, HonestOnlineSelling.com
Hello, online sellers.
I hope you're wrapping up (literally) your Xmas shipments to customers and getting ready for at least one day off.
Today, I'd like to share my online retail hits and misses of the season/year with you. What was hotter than the camera flashes behind Rachel Uchitel? What fizzled out like Michael Vick's season performance?
(Keep in mind that these are from the view of a reseller (like us folks). What was a dud for us to resell still may have been hot in the retail-to-consumer market)
1. DUD: Sing-a-ma-Jigs. Remember the press was ALL OVER this product and it was predicted to be a hit? As of press time, some of these were being sold on Amazon for as little as $6. Nothing like the Zhu-Zhu sensation of 2009 (I remember my Amazon merchant price point of the brown Zhu Zhu's peaking at $60 each last year).
4. HOT: Used and/or New, Out-of-Production Board Games. Make sure these are 100% complete before you ship them to Amazon FBA and/or your customer. Yes, USED games can be hot sellers. I pay $3 to $10 for each of these at thrift stores, yard sales, and/or via online arbitrage, throughout the year. They're actually hot sellers regardless of the time of year. Examples:
Mall Madness: Used prices via FBA peaked for me at $80.
Acquire (very HTF) sold by me via Amazon FBA for $177.95 (it was new and sealed)
Cranium Cariboo (and other various used out-of-print games by Cranium) peak at about $40 to $90 used.
...Remember, these were picked up by me for $3 to $10 each!
6. DUD: Wow Wee Paper Jamz. I REALLY expected this to take off, but it didn't (I'm lucky I didn't buy any for reselling). Brilliant product, but trying to compete with Guitar Hero, et. al. is difficult. Great execution, but tepid buyer's market.
Do you see a pattern above? My hottest sellers were from time-honored brands with a lot of heritage: Disney (Buzz), Batman/DC (Batmobile) and Marvel/Spiderman (Wisecracking). I call these toys 'evergreens' because I can count on them yearly to bring me in a profit.
What were your HOT Sellers? Duds? Post away (below)!
Stay Classy, Internet.
-J.B. Malik
Founder, HonestOnlineSelling.com
Thursday
Deals that Suck, and Going 'Crazy.'
NOTE: This blog has moved to: http://www.HonestOnlineSelling.com
Hi, online sellers.
Some retail giants have warped ideas about providing value these days. There's a lesson for us Internet marketers here, so bear with me:
- Borders.com offers $10 off their e-readers (priced $119 and up).
- HomeDepot.com offers Free Shipping on 'Most Orders Over $249'.
- BestBuy.com offers a free BestBuy $50 gift card when you buy a Denon Receiver (which are priced $800 and up).
These 'deals' are underwhelming. They suck. There's VERY little/no value to the consumer. I call them 'Nomotions': Promotions worth nothing.
Rarely do these companies - and thousands others - 'wow' customers into making a purchase.
This is precisely one of the reasons I left the 'real' working world earlier this year: most of the companies I worked for just don't get it.
What does this mean to you?
It means this: If you want to stand out from other sellers, you've got to 'get crazy'.
Last Halloween, I offered all buyers a promise that I'd deliver their item by Halloween or their item would be FREE. And I meant it. I had an almost 100% sell through rate on all my items.
Am I crazy? No. Why?
-I actually did deliver all orders by Halloween. It costs only a few pennnies more for U.S. Postal service delivery confirmation, so I had proof.
-I 'padded' by eBay/Amazon listing schedules with enough days in advance of Halloween so I could ensure orders were indeed delivered on time.
-The risk for me was pretty low. Most of my costume items were $20, not $1000. So if I did miss my "Get it or its Free" deadline, I didn't have to sell a kidney to make up for it.
Oh, I also offer (on most items) a 'NO QUESTIONS ASKED' 30-day return policy. Other sellers offer 7 days, or deduct a restocking fee from the refund. But , I RARELY get a return. Most retailers' return percentages are very, very low - so the risk to them - and us - is incredibly small (provided they're selling quality, reliable goods).
But last Halloween, I didn't see ANY OTHER COMPANY offering the same deal.
Why?
They're uncomfortable with taking a risk. They stick to the 'plain vanilla' approach: Don't rock the boat. Don't do anything out of the ordinary. Sellers, that's not good business sense - it's just bad, novice-level marketing.
Still skeptical? The companies below go to great lengths to WOW their customers with "CRAZINESS". Check it:
Zappos.com:
-Free shipping for shoes, free shipping for returns if you don't like the shoes. And a 365-day return policy. That's ONE YEAR. IS ZAPPOS CRAZY? Yes, and it works: Amazon bought the company last year for $850 Million. Oh, and Zappos has a cult-like HUGE following of dedicated customers because of their craziness.
Hyundai:
A few years ago, Hyundai introduced the first-of-its-kind TEN YEAR, 100,000 Mile Warranty when their competition offered 3-year/36,000 miles. And when the economy tanked, Hyundai said if you lease or finance their cars and you lose your job, return the car and owe nothing. IS HYUNDAI CRAZY? Yes, and their cars are now renowned for oustanding quality, style and value.
So how can YOU get a little 'crazy' and stand out from the competition?
-Offer free shipping, regardless of how much the customer spends.
-Guarantee delivery in time for the holidays.
-Provide 'nutty' return policies on goods you know are extra-durable. I have a TWO YEAR exchange policy on one of the $30 toys I sell because I know it never breaks, and if it does, I can send one to the customer because it costs me under $6.
Your competitors will call you crazy. But your customers will be crazy in love with you.
Stay classy, Internet.
-J.B. Malik, Founder, http://www.HonestOnlineSelling.com
Hi, online sellers.
Some retail giants have warped ideas about providing value these days. There's a lesson for us Internet marketers here, so bear with me:
- Borders.com offers $10 off their e-readers (priced $119 and up).
- HomeDepot.com offers Free Shipping on 'Most Orders Over $249'.
- BestBuy.com offers a free BestBuy $50 gift card when you buy a Denon Receiver (which are priced $800 and up).
These 'deals' are underwhelming. They suck. There's VERY little/no value to the consumer. I call them 'Nomotions': Promotions worth nothing.
Rarely do these companies - and thousands others - 'wow' customers into making a purchase.
This is precisely one of the reasons I left the 'real' working world earlier this year: most of the companies I worked for just don't get it.
What does this mean to you?
It means this: If you want to stand out from other sellers, you've got to 'get crazy'.
Last Halloween, I offered all buyers a promise that I'd deliver their item by Halloween or their item would be FREE. And I meant it. I had an almost 100% sell through rate on all my items.
Am I crazy? No. Why?
-I actually did deliver all orders by Halloween. It costs only a few pennnies more for U.S. Postal service delivery confirmation, so I had proof.
-I 'padded' by eBay/Amazon listing schedules with enough days in advance of Halloween so I could ensure orders were indeed delivered on time.
-The risk for me was pretty low. Most of my costume items were $20, not $1000. So if I did miss my "Get it or its Free" deadline, I didn't have to sell a kidney to make up for it.
Oh, I also offer (on most items) a 'NO QUESTIONS ASKED' 30-day return policy. Other sellers offer 7 days, or deduct a restocking fee from the refund. But , I RARELY get a return. Most retailers' return percentages are very, very low - so the risk to them - and us - is incredibly small (provided they're selling quality, reliable goods).
But last Halloween, I didn't see ANY OTHER COMPANY offering the same deal.
Why?
They're uncomfortable with taking a risk. They stick to the 'plain vanilla' approach: Don't rock the boat. Don't do anything out of the ordinary. Sellers, that's not good business sense - it's just bad, novice-level marketing.
Still skeptical? The companies below go to great lengths to WOW their customers with "CRAZINESS". Check it:
Zappos.com:
-Free shipping for shoes, free shipping for returns if you don't like the shoes. And a 365-day return policy. That's ONE YEAR. IS ZAPPOS CRAZY? Yes, and it works: Amazon bought the company last year for $850 Million. Oh, and Zappos has a cult-like HUGE following of dedicated customers because of their craziness.
Hyundai:
A few years ago, Hyundai introduced the first-of-its-kind TEN YEAR, 100,000 Mile Warranty when their competition offered 3-year/36,000 miles. And when the economy tanked, Hyundai said if you lease or finance their cars and you lose your job, return the car and owe nothing. IS HYUNDAI CRAZY? Yes, and their cars are now renowned for oustanding quality, style and value.
So how can YOU get a little 'crazy' and stand out from the competition?
-Offer free shipping, regardless of how much the customer spends.
-Guarantee delivery in time for the holidays.
-Provide 'nutty' return policies on goods you know are extra-durable. I have a TWO YEAR exchange policy on one of the $30 toys I sell because I know it never breaks, and if it does, I can send one to the customer because it costs me under $6.
Your competitors will call you crazy. But your customers will be crazy in love with you.
Stay classy, Internet.
-J.B. Malik, Founder, http://www.HonestOnlineSelling.com
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