I started my business on auction sites. There’s tons of reasons to try your hand at them – I was able to start a customer base with auctions, network with sellers of other products and services and most importantly, have very clear feedback about my products posted by other people that I could point to when selling elsewhere.

With that said, there’s a few things you should know about auctions.

1. Get GREAT photographs. Good photographs sell online. That’s true for all online selling, but especially true in auctions, where people may be browsing for products instead of searching out for you. So entice people with great photos – clear product shots worn by PEOPLE, not mannequins will make a difference.

2. You won’t make as much as you could selling on your own site, generally. Most folks on auction sites are browsing for a deal, so expect not to profit as much. Because of that…

3. …make sure you start the auction bids at the price of your materials first. If you’re selling online, you can underwrite the cost of your time with the cost of getting clear, publicly posted and linkable customer feedback, but you don’t want to be out the cost of the materials at the very least.

4. Because one of the biggest reasons to sell via auctions is the feedback, make sure you follow up with your customer afterwards if they haven’t immediately left feedback. That also means you should leave stellar feedback first – reciprocity and follow up sure beat the underhanded “feedback hostage” many sellers now employ. If you act in good faith, buyers will more likely give you a break if things don’t go totally perfect.

5. Broadcast your auctions – let people know that you’re selling (along with what you’re selling). Just remember to treat the channels you broadcast with online the same as the the channels you use offline (that is to say, don’t be the person everyone tunes out because they’re always self-promoting whether in real life or online – be selective in your messaging).

6. Brand your auctions. There are auction template creators everywhere and the templates they spit out can be easily personalized. If you did it to your Myspace, you can easily do it to some code. Don’t let your auction look like everyone else’s.

7. Being professional matters. From spell-checking your listing to replying promptly to all inquiries, everything matters. Because these sites are generally filled with people who are not familiar with you or your work (unlike online community sites) you need to ensure their impression of you is nothing less than stellar.

8. Communicate, communicate, communicate. Remember – customer service is also included when people are leaving feedback. Give the buyer as much information as you can – when things ship out, the tracking number, when they can expect it and when you’ve left feedback. It’s better to overcommunicate about a buyer’s purchase then to undercommunicate.

9. Time things appropriately. Depending on your demographic, you may want to ensure your buyers can be online for when the auction ends. If you’re going for a young, office-type worker with quirky style, an afternoon end time may be better. Similarly, if you’re going for a high-school/university student buyer, early evening may be best. Moreover, if you ship only on certain days, time the ending so the shipping day is a day or two away from the auction’s end, so your buy doesn’t have to wait a week if they pay right away for your item.

What do you think? Did I leave anything out? I’d love to hear your thoughts! Leave me a comment!

Next Tuesday: Business plans – what you need (or don’t need)

Tags: auctions, branding, feedback, selling, timing

This entry was posted on Friday, October 9th, 2009 at 1:09 am and is filed under selling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.