The Secret Of 1 Penny Ebay Auctions And How To Earn Money From It
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I'm sure you've seen 1 penny auctions on Ebay and later saw them sell for hundreds of dollars. What could be its secret? Well my friend in this article, I'm going to show you how these 1 cent auctions work, and how you can make them work for you too in your Ebay business.
If you've ever tried to make money with 1 penny auctions and have failed time and time again, then there's probably 1 thing that you're doing wrong:
You're not following up on your customers.
You see, even though you may get alot of attention and bids from your cent auction, your true profits from that auction doesn't lie within the auction itself - it lies in the backend marketing that you doing to each customer.
80% of all business profits come from the backend, so if you're not marketing again to the customer you just got from your 1 penny auction, then you're missing out on alot of money - regardless of the final bid price of your auction.
1 cent auctions are great for getting attention. When someone see's a hot item for only 1 penny, who wouldn't bid on it? Therefore, the bids for the auction will rise rapidly, and it will more than likely sell quickly. And hopefully it will sell at a price where you make profit.
But even if you don't make a profit, you still shouldn't get your hopes down. You see, the free advertising that you get from your backend customer will allow you to recoup your investment, and eventually turn a profit on that 1 cent auction.
When you market to a repeat customer, there's no persuading or arm-twisting. Your customer has already dealt with you before and knows who you are as a merchant. So therefore, if you lead that very same customer to another auction where they can buy another product from you, the barrier to that sale is very low, since there is low resistance.
Your customer has already bought from you before, so it will be very easy for them to buy from you again.
So what if you got a customer for 1 cent, and the over the course of the next 6 months that very same customer bought from you 3 more times for $25 each. That's $75 dollars all from a 1 penny auction.
Now all of your customers won't buy like this - but most will. Can you see where you're true profits lie in your business? It's all in the backend. You can use a simple autoresponder service such as Aweber.com to automate your backend selling process.
And it doesn't have to stop at 6 months. What if that very same customer continues to buy from you for years to come. You will have amassed a ton of profits from that 1 cent auction. Do you understand now the magic of 1 penny auctions?
It's very easy to forget this kind of information so be sure to review this article time and time again. Whenever you see a 1 cent auction on Ebay, know that the true profits lie in the backend. Good luck on your Ebay selling efforts.
ABOUT THE AUTHOR: Randall Magwood is one of the most respected and highly-regarded online marketing experts on the internet. He has a website about internet marketing that helps small business owners learn how to market their business online simply and easily. To learn more, visit his website here: http://www.internetmarketing-rules.com
If you've ever tried to make money with 1 penny auctions and have failed time and time again, then there's probably 1 thing that you're doing wrong:
You're not following up on your customers.
You see, even though you may get alot of attention and bids from your cent auction, your true profits from that auction doesn't lie within the auction itself - it lies in the backend marketing that you doing to each customer.
80% of all business profits come from the backend, so if you're not marketing again to the customer you just got from your 1 penny auction, then you're missing out on alot of money - regardless of the final bid price of your auction.
1 cent auctions are great for getting attention. When someone see's a hot item for only 1 penny, who wouldn't bid on it? Therefore, the bids for the auction will rise rapidly, and it will more than likely sell quickly. And hopefully it will sell at a price where you make profit.
But even if you don't make a profit, you still shouldn't get your hopes down. You see, the free advertising that you get from your backend customer will allow you to recoup your investment, and eventually turn a profit on that 1 cent auction.
When you market to a repeat customer, there's no persuading or arm-twisting. Your customer has already dealt with you before and knows who you are as a merchant. So therefore, if you lead that very same customer to another auction where they can buy another product from you, the barrier to that sale is very low, since there is low resistance.
Your customer has already bought from you before, so it will be very easy for them to buy from you again.
So what if you got a customer for 1 cent, and the over the course of the next 6 months that very same customer bought from you 3 more times for $25 each. That's $75 dollars all from a 1 penny auction.
Now all of your customers won't buy like this - but most will. Can you see where you're true profits lie in your business? It's all in the backend. You can use a simple autoresponder service such as Aweber.com to automate your backend selling process.
And it doesn't have to stop at 6 months. What if that very same customer continues to buy from you for years to come. You will have amassed a ton of profits from that 1 cent auction. Do you understand now the magic of 1 penny auctions?
It's very easy to forget this kind of information so be sure to review this article time and time again. Whenever you see a 1 cent auction on Ebay, know that the true profits lie in the backend. Good luck on your Ebay selling efforts.
ABOUT THE AUTHOR: Randall Magwood is one of the most respected and highly-regarded online marketing experts on the internet. He has a website about internet marketing that helps small business owners learn how to market their business online simply and easily. To learn more, visit his website here: http://www.internetmarketing-rules.com