All About Online AuctionsPosted by Nick Niesen on November 1st, 2010 How to make Auctioning a Profitable Business It wouldn't be exaggeration to say that hundreds of thousands of people from across the world visit buy and sell myriad products on auction sites. One popular site has a market share of 76%, reports 42.7 million users recording a growth rate of 100% every year! A poll conducted by Harris Interactive on 2,196 people shows that online auctions appeal to people for the following reasons. Buying What? People visiting auction sites buy all sorts of products from different categories, but it simply doesn't mean that everything and anything sells. What is critical, in this context is Targeted Marketing, more so, since auctions, as days went by has become a serious business line. The buying on auction is no longer restricted to sales only, most of the firms are using the auction sites to generate business and traffic to their own sites with added offers. In a nutshell: It all boils down to the point that if you have what the buyer is looking for and your listing is found you get bids ad sales subsequently. The real test for the seller is figuring out what the buyer is looking for. Online Auction - Ideal Marketing Tool The buyers flock to auction sites for innumerable number of myriad items provided on them, therefore the issue of how to attract the buyers is solved. Different customers arrive at the site with different perceptions and different frame of mind. The auctions are all about enjoying the bids of different products and item available along with the pictures. Then How to Make Most of it. The advantages can be properly utilized by using the targeted strategies in line with the habits and patterns of online auction buyers with built-in categories found on the auction site. Although serious auction sellers have a website, it is not necessary to own a website and generate traffic with advertising. You can join a reputed auction site by registering with them, which is fast and easy. And for immediate returns and to generate income with little registration fee, this a much better approach to e-commerce. The fundamental formula for online selling: Provide something the buyer is looking. Having a target and product in mind is important. Take advantage of huge number of people looking for multiple products, learn and understand from other sellers. Like it? Share it!More by this author |