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Scot Wingo, President and CEO of ChannelAdvisor Corporation, has written a book for experienced eBayers who want to take their business to the next level. The book contains 9 chapters and "10 Proven Methods to Maximize Your eBay Business."
ChannelAdvisor is an auction-management service, and it's clear CEO Wingo has been hanging around eBay sellers for a long time. For example, he recognizes the challenge many sellers face when he says at the beginning of the book, "...many eBay businesspeople get so involved in the details ("Should I do BIN or fixed price?") that they don't look at the larger picture of their business." In "eBay Strategies," he aims to give sellers the tools and knowledge to give them the larger picture and successfully grow their business.
In Chapter 2, Wingo defines some key metrics, such as Gross Merchandise Sales, Conversion Rates (sell-through) and Non-Paying Bidder Rate. Strategy #1 is, "Know Your Critical eBay Vitals." By tracking your business performance, you can recognize and address possible problems or capitalize on positive trends early on.
Other chapters discuss how you can understand product life-cycle stages to leverage eBay "sweet spots"; promote your business and build your brand; and explore other channels.
I found one section particularly interesting. Wingo takes a look at eBay's featured listings and other upgrade options. Gallery, which costs an additional 25 cents per listing, is by far the most effective upgrade, according to his company's research. In fact, Wingo recommends Gallery for any item that is more than $10 and is not a commodity item. ("For example, it probably does not make sense to buy Gallery for a "Finding Nemo" DVD.")
Wingo has put together some basic concepts of business and presents them in a clear, actionable presentation that is completely geared to eBay businesses. He also shares research and tips from the real-life businesses that he works with at ChannelAdvisor. Included are five case studies featuring GlacierBayDVD, DesignerAthletic, MobilePC, CrazyApe, and JustDeals.com. This is a quick introduction to what some of the larger eBay sellers are doing.
With the permission of the publisher, we have reprinted an excerpt from the book on the AuctionBytes.com Web site:
http://www.auctionbytes.com/cab/pages/ebaystrat
The section is an excerpt from Chapter 5 on pricing, and shows readers how to research decreasing ASPs (average selling prices).
You can find Scot's book on Amazon for $19.99 plus S&H:
http://digbig.com/4bmtf
"eBay Strategies: 10 Proven Methods to Maximize Your eBay Business," by Scot Wingo is published by Prentice Hall Professional Technical Reference.
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