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What is Drop Shipping?

Sell what Sells, NOT what's Cool

The Wholesale Misconception

Don't Get Taken by a Fake Suppli...

Wolves in Wholesale Suppliers' C...

Working Within the Process

Is Santa's Sleigh Big Enough for...

Beware of Drop Shipping 'Agents'...

Direct From The Factory?

4 Strategies for Seasonal Sellin...

3 Tools for Product Sourcing on ...

Tradeshows the Right Way - How t...

Tradeshow Sourcing - When the Sh...

Preparing for the Holiday Season...

What a Wholesale Supplier Expect...

Product Sourcing Using Trade Pub...

Tips for Finding and Getting Goo...

Storage Units Auctions - Buying ...

Starting an Antiques and Collect...

How EBay PowerSellers Source Pro...

How to Build Your Online Consign...

Dangerous Mindsets - Changing th...

Sourcing Customer Returns - Buyi...

Product Sourcing Strategies - Ne...

6 Common Product Sourcing Questi...

Increasing Your Profits through ...

Importing Basics - What You Need...

Selecting and Changing Your Prod...

The Inside Scoop on Trade Shows ...

How to Make Product Liquidation ...

Shopping with Uncle Sam - A Brea...

One Man's Trash... Could Be Your...

Our Town - Sourcing Products Loc...

An Intro to Closeouts - A Produc...

How to Find Authentic Suppliers ...

Beyond Borders - Sourcing Overse...

Heads or Tails? - How to Find Yo...

Five Holiday Trends - What Every...

Seeing the Whole Picture - A Who...

Drop Shipping Pros and Cons - th...

Far From Home - 4 Keys to Succes...

Product Sourcing Strategies for ...

The Ins and Outs of Importing - ...

How to Choose Your Product Lineu...

The Fine Art of Product Sourcing...

Sourcing The Secondary Market - ...

Local Sourcing Techniques - Prod...

Global Sourcing - Importing for ...

A Foreign Affair - Preparing to ...

Choose Wisely - How to a Pick Pr...

Made in China - Importing Option...

The Color of Money - How Color T...

The Nuts and Bolts of Liquidatio...

How to Break Into Importing - An...

Trend or Fad? What to Ask Before...

What Your Country Can Do for You...

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Trade Shows Year-Round - What Pe...

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products to sell online - How to Build Your Online Consignment Business

by Chris Malta

Get the Word Out!
Consignment is a simple concept - taking other people's products and selling them for a percentage of the sale. According to renowned eBay PowerSeller Skip McGrath, of SkipMcGrath.com, "Consignment selling is the fastest growing phenomenon on eBay." The key to successful online consignment is marketing your services. You have to aggressively promote your business, and McGrath shares some techniques for doing just that. There are four areas you'll use: advertising, public relations, networking, and your own web site.

Advertising
The market you're in will determine your course of action here.
The Retail Market - selling products for ordinary people:

    • Door hangers
    • Classified ads in small to medium-sized market newspapers
    • Flyers
    • Posters
    • Radio spots
    • Estate executors and bankruptcy processors
The Business to Business Market - selling excess inventory for retailers and manufacturers:

    • Classified ads in business journals
    • Direct mail
    • Local charities and not-for-profits (Rather than always asking their supporters for money, they can ask them to donate products you know will sell. So you can build a relationship that's profitable for both of you.
Public Relations
• Write a press release, print out a copy and mail it to all your local newspapers - often, they'll promote your new business in hopes you'll advertise with them.

Join a community group - the Lions, the Jaycees, or your local chamber of commerce. These are especially useful for business marketing. Your chamber of commerce should have a newsletter that you can advertise in and every chamber member in town will get. If you sign up for a community group, volunteer for something. You'll make more contacts and be taken more seriously than if you just show up to the meetings to gain more contacts.

Networking
Implement the McGrath "Three Foot Rule". Explains McGrath, "I always have business cards on me, and anyone that gets within three feet of me is going to learn what I do."

Cold call on potential customers.

Walk around the business section of town (or your neighborhood for retail) and let them know that you can help them liquidate their surplus merchandise. If businesses seem reticent, offer to let them give you one or two pieces as a trial, and then make sure you do a good job selling those pieces.

Build a database of your customers. Collect business cards and stay in contact periodically. Send an email, send a Christmas card. Retaining customers is a lot easier than finding new ones.

Create a Web Site
• Try to include your city and the word "consignment" in the title - these are very popular search terms right now.

• Have a link from your site to your consignors so they can check the status of their own auctions.

• Send out emails or newsletters through your web site to your customer database.

You may find some methods work for you better than others, but the main thing is just to spread the word and let the world know you're there.

 
Archive List

ARTICLE ARCHIVE LIST

 

What is Drop Shipping?

Sell what Sells, NOT what's Cool

The Wholesale Misconception

Don't Get Taken by a Fake Suppli...

Wolves in Wholesale Suppliers' C...

Working Within the Process

Is Santa's Sleigh Big Enough for...

Beware of Drop Shipping 'Agents'...

Direct From The Factory?

4 Strategies for Seasonal Sellin...

3 Tools for Product Sourcing on ...

Tradeshows the Right Way - How t...

Tradeshow Sourcing - When the Sh...

Preparing for the Holiday Season...

What a Wholesale Supplier Expect...

Product Sourcing Using Trade Pub...

Tips for Finding and Getting Goo...

Storage Units Auctions - Buying ...

Starting an Antiques and Collect...

How EBay PowerSellers Source Pro...

How to Build Your Online Consign...

Dangerous Mindsets - Changing th...

Sourcing Customer Returns - Buyi...

Product Sourcing Strategies - Ne...

6 Common Product Sourcing Questi...

Increasing Your Profits through ...

Importing Basics - What You Need...

Selecting and Changing Your Prod...

The Inside Scoop on Trade Shows ...

How to Make Product Liquidation ...

Shopping with Uncle Sam - A Brea...

One Man's Trash... Could Be Your...

Our Town - Sourcing Products Loc...

An Intro to Closeouts - A Produc...

How to Find Authentic Suppliers ...

Beyond Borders - Sourcing Overse...

Heads or Tails? - How to Find Yo...

Five Holiday Trends - What Every...

Seeing the Whole Picture - A Who...

Drop Shipping Pros and Cons - th...

Far From Home - 4 Keys to Succes...

Product Sourcing Strategies for ...

The Ins and Outs of Importing - ...

How to Choose Your Product Lineu...

The Fine Art of Product Sourcing...

Sourcing The Secondary Market - ...

Local Sourcing Techniques - Prod...

Global Sourcing - Importing for ...

A Foreign Affair - Preparing to ...

Choose Wisely - How to a Pick Pr...

Made in China - Importing Option...

The Color of Money - How Color T...

The Nuts and Bolts of Liquidatio...

How to Break Into Importing - An...

Trend or Fad? What to Ask Before...

What Your Country Can Do for You...

Opportunities Abroad - China Sou...

Trade Shows Year-Round - What Pe...

5 Product Trends for 2008 that E...

Successfully Negotiating with Yo...

5 Strategies for Safely Sourcing...

Informed Compliance for e-Tailer...

Locate Qualified Drop Shippers f...

What is Product Sourcing? The So...

Where Do I Find Products to Sell...

Tips for Finding and Working wit...

A Beginner's Guide to Buying Dir...