Planning for success…seven tips to ensure that you are making the most out of Q4
While others will be missing the summer, the winter months prove to be the most profitable for online sellers. Figures from eBay and Amazon’s past reports show that the fourth quarter of the year turns out to be the most money-making quarter for this group.
On top of the general growth encountered by sellers trading on Amazon and eBay, this season could get so exciting that sellers will have a good reason to do a little victory-lap around their laptop.
However, as with everything else, staying on top takes a lot of work and preparation. iwoca has gathered a few tips on how to get ahead.
1. Be best friends with your suppliers. Staying on good terms with your supplier is always a good idea, especially when you’re moving towards a busy season. When you’re busy, that usually means that your supplier is busy as well and what that means is that it’s good to be on top of your supplier’s list of favourite people.
2. As they say, pictures are worth a thousand words. Make sure that your listings look professional, by taking some strong pictures of your products.
3. Describe your products well. Top the pictures off with a great written copy that will entice your customers.
4. Stick to your delivery times. When you provide your delivery estimates make sure they’re actually accurate. Especially around the holidays your customers will want to know that they can trust that your deliveries arrive on time. Please don’t wait until the holidays to prove this!
5. Top up on your stock levels. There’s no worse feeling that running out of stock when you know you could have sold more. If you have a feeling this might happen it’s probably a good idea to start exploring what options you have to gain external funding for your business.
6. Keep your customers happy. Although this one is an oldie, it will always be goodie. Remember to maintain your high feedback score. Just remember that this is what customers actually look at and if it’s low you may risk losing out on business.
7. Social is the way forward. Many successful eBay sellers have started investing a lot of their time in social media. If you’re not on board yet we advise you to get started. The social media platforms are great ways to engage with your customers and increase your presence in the online space.
iwoca is the first company in the UK to provide small business loans to eBay and Amazon sellers.