Renegade eBay Strategy - Feedback
Some people rely on their instinct to buy things but others more often trust eBay's feedback system. This strategy, which involves buying from someone who has a high number of positive ratings and then leaving a low-rated seller feedback in return, can result in surprisingly high profits for the buyer.
However, there are some drawbacks to this strategy that you should be aware of before you adopt it as your own.
If you have any questions about the risks and rewards of this practice, don't hesitate to ask because we're happy to answer them!
To read the full article go here: http://www.thegrowthbuilder.com/info-center/marketplace-strategy/feedback.html [ARTICLE END]
Case Study: How I made £43,000 from eBay using the 'revenge buyer' strategy - and you can to.
Here is a great example of how the revenge buyer strategy works well. User 'leicesterfos' put up a listing on eBay selling PS3 games. He states in the listing: "I will leave negative feedback for anyone that leaves me bad feedback. This is my PS3. I know it's massive lol but I want to make some money."
The listing attracted four negative feedbacks but the majority of users left positives. However, one person left a few negative comments and one positive feedback for 'leicesterfos'. The listing ended up being a winner: He sold his PS3 for more than the initial asking price!
We can see that this strategy is effective in eBay, as you can see from the buyer's behaviour.
Here is the full article: http://www.thegrowthbuilder.com/info-center/marketplace-strategy/revenge.html [ARTICLE END]
I'm not sure I would recommend this strategy, as it's quite a risky one at that...Although it does work well sometimes.
It's just a matter of seeing who you think is a 'loser' and going after them. If you have any questions about whether this strategy works or not, please feel free to ask here.
The reason I am not recommending this strategy is because people will always be looking to leave some kind of feedback, so if you go after those people who have left feedback that isn't as good as others and leave them bad feedback then you are essentially harming the reputation of the seller (and not their business).
I think, in all honesty, this strategy only benefits the buyer, but of course that is down to what you feel.
The strategy works well because those with bad feedback are often selling things that are not nearly as good as others and therefore have little-to-no chance of selling it for the price they put on it. This means that if someone does launch a negative feedback campaign against them…their items will sell for a lot less than they were expecting.
I don't think this is something you should be actively doing. If you see a seller with bad feedback, then by all means leave a negative for them, but I wouldn't go out of your way to do so, that's just me…
Got any questions? Leave them below :)
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Conclusion
Pick a market for your online store that has significant numbers of people who will be buying and then set up your online store. Make sure people can find you easily and that you are not in the best position to compete. The bigger the market, the more profits you will get, although it is important to be able to handle greater demand than this. An example would be selling 'gaming' items such as games consoles and games on eBay; this is a huge market with many sellers competing against each other; however it is worth mentioning that the eBay marketplace itself controls almost 70% of all auctions sold through the site.