Day 1: March 11, 2018
The first day of the March 2018 ASD Trade Show opened today and was in full swing. Here are the Day 1 highlights from ASD if you missed your chance to attend this year’s spring show:
Amazon 101 with Travis Ross
As one of the founders of the Rocky Mountain Reseller Conference, Travis Ross is a well-respected Amazon selling coach as he helps new sellers grow and scale their e-commerce business. Today at ASD Travis walked us through the pros and cons of the different ways in which new sellers can fulfill orders through the Amazon marketplace.
|Immediate product availability||Potentially receive poor seller ratings
|Fewer Amazon fees||Rotation of the "Buy Box"
|More control over your inventory||Lost sales during closed days and vacations
|Merchant Fulfilled Prime ||Lower ASP|
|Access to Prime||Higher fulfillment costs
|Millions of subscribers||Inventory limitations (e.g. date sensitivity, Haz-Mat)
|Amazon fulfills shipping, returns, and customer service||Competition with Amazon
|Higher ASP (usually)||Inbound check-in times
|"Buy Box" privileges|
|Ability to scale|
3rd Party Amazon Prep Facility
|Great for sellers with time and space limitations||Less control over inventory
|Scalability-prep can handle higher volume||Variation in product quality
|Tax free (based on location)||High volume seasons can slow down sales
|Pallet receiving options||Costs of prep materials, shipping materials, and labor
|Long term storage options||Volume restraints
Optimizing eBay Listings with Tyler Thomas
Ebay’s Promoted Listings ad option is the smart way for eBay sellers to get guaranteed views on their product listings. Today at ASD, Travis talked to us about what makes a good listing and what you need to know about using the Promoted Listings feature.
So what makes a great ad? According to Travis a good ad goes hand-in-hand with a good listing. For optimal success, Travis recommends to:
- Promote the new recommended items
- Confirm all items are in the correct listing category
- Ensure proper keywords are used within the listing
- Only use high-quality photos with clear backgrounds
- Include product identifier information (such as UPC numbers)
ASD Treasure Hunters with Katharyn Shelton
Katharyn Shelton is a self-made entrepreneur with a knack for identifying holes in niche e-commerce markets (aka finding treasure) and the star of the successful YouTube channel Treasure Hunting with Katharyn Shelton. Katharyn also shares a passion for helping fellow entrepreneurs navigate their own success. Today at ASD, Katharyn walked us through what she calls the “Monetizing and Marketing Loop” of selling.
Katharyn’s Monetizing and Marketing Loop explores the idea that audience building platforms (such as YouTube, Facebook, and Instagram) and selling platforms (such as Amazon, eBay, and Tradeshows) exist in an overlapping loop that reinforce and support one another. You can view Katharyn’s loop diagram below:
Day 2: March 11, 2018
Day 2 of ASD was a huge day for BULQ. This morning, we announced the newest feature to sourcing on BULQ with BULQ Auctions.
What are BULQ Auctions?
BULQ auctions are the newest sourcing option from BULQ.com. New auctions go live every Monday, Wednesday, and Friday lasting 48 hrs each. BULQ auctions gives you the opportunity to name your own price on seriously discounted liquidation lots.
Who can bid on auction lots?
Auctions are available for any customer with a BULQ login. No application or fee required. If you’re a new customer, you can create an account in under a minute and start your bidding.
What are the benefits of auctions?
Besides the opportunity to name your own price, auctions offer discounted shipping options – with just $20 case shipping and $170 pallet shipping. You also get to enjoy the same 98% accuracy guarantee from your BULQ auction purchase.
You can read more about BULQ Auctions here and make sure to check out our Facebook Live video straight from the ASD showroom floor below:
Day 3: March 13, 2018
Day 3 at ASD Market Week came and went in the blink of an eye! We got the chance to attend some great sessions from some of the most notable eBay Power Sellers. Here’s what we learned:
Killing it on eBay in 2018 Jason Smith
Jason is a big deal in the eBay world. Not only is he killing it with his eBay business, but he’s also seriously dedicated to helping new-to-eBay sellers find success. Here are the top tips for selling on eBay we learned from Jason this afternoon at ASD:
- Write specific, to the point titles: Use all the characters available in your product titles and make sure your title has a good flow.
- Product descriptions – only the facts: When writing your product descriptions, leave out the story of how you found the product and only provide the details of the items. Customers care more about what color, model, and fit their purchasing and not so much about how you discovered it.
- Take well lit, clear photos: Consumers are more likely to purchase an item if they can clearly identify it. Good photos also make your store look more professional, which gives buyers confidence in purchasing from you.
- Streamline shipping: Make shipping easy. Offer free shipping when you can and bake the cost of shipping in your price. Pro tip – don’t think you need to have all your items priced bottom line. Ebay buyers will purchase at any price point.
- Offer free or easy returns: Returns are a necessary evil. There will always be some customers that want to just rent your items, but customers want to feel protected in the purchases they’re making. In fact, eBay is even making it mandatory for sellers to offer free shipping in order to be rated as a top seller.
Day 4: March 14, 2018
On our last day of ASD, we got the chance to see eBay super seller Theresa Cox, aka Club Red 97 on eBay. Theresa has been selling on eBay for 21 years and spoke at ASD to talk about transitioning from a 9-5 job to becoming a full-time seller. Here’s are the 5 areas Theresa recommends to focus on when looking to make this career changing transition:
First things first – don’t under estimate the difficulty of starting your own business. You only hear about the fun parts about the freedom from working from home and being your own boss, but you never hear about the late hours spent listing item.
That being said, Theresa emphasizes that you should definitely not up and quit your current job and then start selling. She advises that you should be earning what you strive to earn selling prior to leaving your current role. You’ll also want to be completely on top your numbers. For example, if you need to be bringing in $2,000 a month, you need to be selling perhaps $4,000 a month (taking into account shipping and general seller fees). This means you need to be saving money now and be keeping track of all expenses from the beginning.
Get on social media and find your tribe. There are tons of community groups out there that are dedicated to helping you sell better and learn the secrets of the selling market. And there’s no lack of groups to join. Some popular ones to join include Product Sourcing 101 and The Thrifting Board. Groups like these will not only provide you with answers to pretty much any selling question you may have, but they’re also a great way to network with other small businesses.
Speaking of networking, Theresa recommends trying to attend at least 1 conference a year – ASD holds shows in both March and July for year-round sourcing.
While the idea of being your own boss may have you fantasizing about never having to answer to anyone else again, your still going to want to find someone to hold you accountable – whether that’s another seller, your family, or someone else. You will need help to stay motivated and grow. It never hurts to have people in your life cheering you on during your journey to success.
Be prepared to grow and for growth. You’re going to need to find an inventory management system that works for you.
Try and remove all obstacles that might hold back your business from growing. For example, instead of charging shipping on an item, offer free shipping and add cost of shipping to your item prices. Also make sure to offer free returns, especially if you sell clothes or shoes. These kind of items basically require that you have a return policy or else they just won’t sell.
Everyone measures success differently, so define what success looks like to you before you start selling as a full time gig. And don’t be afraid to fail! Failing is inevitable sometimes, so make sure you are evaluating yourself based on your situation and don’t compare yourself to everyone else. And always remember to keep learning, asking questions, and trying new ways to sell. You’ll find success if you keep at it!
So there you have it! The BULQ team had a stellar time at ASD and we hope to see you all back here in July!