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Finding Your Niche on eBay is More Important Than Ever
By Lisa Suttora | May 7, 2008
Many new eBay sellers think selling commodity products (things you can buy everywhere) to the widest possible market is the likeliest path to success.
A lot of people I talk to are afraid to pursue a market niche because they worry that they will not be able to reach a broad enough pool of buyers.
But for today’s online seller, the opposite is true. ESPECIALLY if you sell on eBay.
The seller who markets to a niche customer builds a much stronger business than one who
is trying to sell everything to everyone. And the one who makes more sales and more money.
Now granted, there are big sellers of commodity products on eBay. But they are either established sellers who started small, or those with a lot of funding to buy massive quantities of inventory at a discount.
Just last week, eBay inked a deal with Buy.com.
Buy.com will now be selling hundreds of thousands of mainstream items on eBay. Commodity items. Items that you can get in any mall or on any major website across America.
If you’re trying to compete against a Buy.com or a like competitor on price, you’re playing the wrong game.
As a small business owner, you need to compete with products, services and a buying experience for your customers that is unlike the big, generic, buying experience of Buy.com.
Doing otherwise is not an option. If you want to make a good living online.
Selling in a niche means, you won’t be competing with a lot of similar businesses solely on price.
Marketing becomes a lot easier too.
If you’re fighting thin profit margins on eBay, take a look at what you’re selling. If you’re selling a white polo tee-shirt that can be found in department stores worldwide or on Buy.com, etc. , it’s time to personalize that shirt with something unique to specialized market.
The time you spend upfront finding a niche to sell in is well worth the reward in both profits and long term viability for your business.
Topics: ebay |
June 1st, 2008 at 7:20 am
Hi Lisa,
For the longest time I have been dreaming of creating my own cosmetics and skincare line. I wonder if people will buy as easily as selling Bobbi Brown or example. I know that I can’t compete with this Giant Cosmetic Company but do I have a chance?
Best,
Mina
June 7th, 2008 at 4:15 pm
Hi Mina,
Yes, you do have a chance! Bobbi Brown was once just a mom who wanted a quick and easy way to put on simple makeup in the morning that would make here look good and not overly made up.
Now Bobbi Brown is owned by Estee Lauder.
What you need to do is look at the marketplace and what is out there - and then think about a product line or spin that you can use to improve or adapt something that is already out there.
Don’t worry about completely reinventing the wheel.
Take a notebook and make a list of all the cosmetic companies out there and what their ’spin’ is - then see where there are holes in the marketplace.
Start small, but keep a big vision.
Most every company started with one person and a dream.
Lisa
Lisa Suttora
Founder
WhatDoISell.com