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    1. Mhallaway is offline

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      #1

      Adding Value to products to Make more Profit - How can I add Value

      It seems that my product listings for sale on ebay and other outlets look just like everybody else’s, can anyone share their ideas about making my products and listings stand out a little more? I’m looking for more value to my products.
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      Bill1357 is offline

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      #2
      In my opinion, you are definitely on the right track in this line of thought. Adding value to your products will likely lead to more interest and more profits. Now how do you do that? Let’s take a look at some basic principles, then some good examples.

      In business terminology, when a consumer buys a product that is “just right” because it is exactly what they want or customized just for them, they pay a little bit more but they feel good about it. This is called a Consumer Surplus. The value of the goods has increased because it is meeting a more specific need for the buyer.

      What you want to do then is create this added value by customizing your goods. Buy an ordinary product and modify it/change it to make it more attractive to the buyer. Here are some ideas.

      Let’s say you have a source for wholesale plain T-shirts. You can increase your margin by customizing them with silkscreen prints. The possibilities are endless here. Find a niche you enjoy or you know there is a lot of activity in and fill the niche. Your wholesale T-shirt which you used to sell for $2 with a $1 margin may now sell for $12 when you only paid an additional $1 to customize it.

      How about flash drive memory sticks. You may have a good source for them and can resell them for a slim margin, but what if you had a license for your favorite small business guru’s tips on starting a profitable business. You could load the licensed information onto the flash drive and sell it for considerably more. Just make sure you have the license to put the information on there. It may cost a couple of hundred dollars but think of the perceived value of the flash drive that has valuable information on it as opposed to the empty drive.

      Package your products on ebay. One really good way to increase the value of your ebay listing is to package or bundle products together. Are you selling beer mugs? Well what if you could find a starter kit for brewing your own beer and package the two items. This is my favorite way to add value to your ebay listing. Think of complimentary products and package them for sale together or give one away as a free bonus. Which one would you buy, of course the one that gives you something more for your dollar.

      Another way to do this is to bundle a less desirable item with a more desirable item. If they want the better item, they have to buy both. Bundling two items also increases bids because a buyer may not have wanted to pay for shipping costs on one item but they are likely to pay for two items.

      Remember that for online marketing, which is what you are doing on ebay, the money is in the list. You want to save the email addresses of all your buyers and tease them with your new offerings as often as possible. Send them information about their interests to keep them informed. If you don’t know what autoresponders are you need to look them up. Autoresponders will send out emails to your clients with a lot less effort. Once a customer buys, they are more likely to buy again from the same person or company.

      Finally, put a hand written thank you note in your package if you are in control of packaging and shipping. You would be surprised how far a simple gesture like this can go. They will not forget you.
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