If you’d like to form part of a new kind of sustainable economy, then getting involved in online resale might be a great way to do it. By buying used products rather than brand new ones, we can reduce the number of products that get tossed into landfill.
Since electronics products are expensive to recycle, and in many cases they’re in perfect working order, it’s essential that we provide customers with a change to resell their old equipment. If they have a good experience, then they might even elect to buy replacement devices through the very same website.
So, how do you establish yourself as a go-to site for used technology, in an industry that’s already crowded? Let’s look at a few worthwhile tips.
If your customers are going to keep coming back for more, then they’ll need to trust in what you’re doing. No-one wants to buy and sell if there’s a possibility that they won’t get what they thought they would. Impose stringent standards for listing items, and make sure all of the descriptions reflect what’s on sale.
Of course, since you’re relying on human beings to write the listings, there are bound to be errors and differences of opinion. What looks in good condition to one person might not be so appealing to another. It’s your job to put in place transparent, easy-to-follow rules that everyone can be expected to abide by, and that can be used to settle disputes.
Confirm Payments Before Shipping
If the money hasn’t arrived before the goods have shipped, then you’re taking a risk that it might never arrive. Even a slightly late payment can be disastrous for your reputation. This goes especially if you’re allowing the sale of high-value electronics equipment, where the sums can easily stretch up to thousands of pounds.
Use High-quality Photos
Your buyers won’t want to buy a used product if they can’t see exactly what sort of condition it’s in. Have a procedure for photographs. Make sure that everything is visible, and that defects are highlighted. Generally speaking, the more photographs you include, the more likely you are to convince a buyer that the item is in the condition you claim it’s in.
As well as persuading buyers and making your website look nicer, photos confer another advantage: they help to bolster your ranking with search engines. Make sure that, for every item, there are photos from the front, back, sides, top and bottom.
Mind Your Profit Margins
It’s important to remember at the end of the day you are running a business. If you don’t think you can turn a substantial profit, it might be worth while not selling that item. You should always ‘’buy low and sell high’’ Ensure you are tracking what is flowing in and out of your online business to keep an eye on income, costs, and budgets.
Have Goals Set Out
This is a piece of advice that’s not unique to the electronics resale industry. If you don’t have specific goals set out ahead of time, then you’ll be unable to gauge the success or failure of your business later on. This generally means putting out a business plan. You can use this to not only get your thoughts in order, but to communicate them to would-be investors and other collaborators.
You might look to settle into a particular niche, or take a more general approach. There are already several established retailers selling mobile phones online.
Make sure that you’re as specific as possible, and that you weigh the advantages and disadvantages of your business’s structure. How much money do you need to earn to stay afloat? How quickly do you tend to expand? How are you looking to promote yourself?
If your would-be customers aren’t aware that your online store exists, then they’ll be unable to come and visit you. This is where your company will live or die. You should look to identify your high-value customers as soon as possible, and target them through a combination of email and social media.
Encourage your customers to spread the word in the real world, too. If the service you provide really is great, then satisfied customers will be willing to talk about it. Through things like loyalty and reference programs, you can incentivise customers to spread the word.
You might dangle things like discounts and merchandise to those who are willing to act as unpaid evangelists for your brand – or you might appeal more directly to online influencers and YouTube reviewers in a specific tech niche.
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