How Can I Quickly Make More Money With What I Already Have?
Part 2: "Answer This Question"
The last lesson was pretty awesome, huh? There’s so many ways
you can optimize your listings to ensure you’re attracting the
highest-paying buyers and maximizing your profits. But the best news is
that we haven’t even scratched the surface! Today, we’re going to cover
a few more reports that will show you quickly and easily how to make
even more money.
5, we scrolled to the bottom of the
Findings Window to find the chart that
gave us so many ways to optimize our listings. However, on the way
down, you might have noticed this section on the Findings
Window, which poses several questions.
are reports HammerTap automatically puts together for you, and each
answers a very specific question. We’ll talk about each of these
reports throughout the rest of this course, and, today, we’re going to
cover the middle three. So, open up your saved Filtered
Earbuds report and we’ll get started!
In Which Category Should I List My Product?
back to Lesson 2. We were deciding what to
include in our search window and I mentioned that I wasn’t going to
search a specific category because I wanted to find the most profitable
one. Well, this report is going to show me how the various categories I
could list in will affect my listing’s profitability, which will make
it really easy for me to pick the best one.
I know there are some of you who are wondering how the category could
make a difference, since buyers all just use the search bar, right?
Well, the search bar certainly is the most used search method; however,
there are still buyers out there who browse through categories. And
since it only takes one buyer to make your listing successful, do you
want to take the risk that the highest-paying buyer for your item is
only using the search bar? You have to pick a category for your item to
list it on eBay, so why not pick one that will make you more
Let’s dive into this report. Click on
we’ll take a look.
My report has 2 categories that have more than 10 listings in them (remember sample size).
These charts are only
valuable if we remember that we’re trying to get our listing’s LSR and
ASP above average. Remember that the overall LSR for our Skullcandy
earbuds is 81.68% and our ASP is $12.13. We’re using these numbers as
benchmarks as we make decisions on how to optimize our
So, the first category,
Electronics > iPod & MP3 Accessories >
For iPod > Headphones & Earbuds, has a price
that is $0.77 less than our overall average of $12.13 (marked in red)
and a listing success rate that is 3.19% above our average (marked in
green). The listings in the second category, Electronics
> iPod & MP3 Accessories > For MP3 Players
> Headphones & Earbuds, on average had a
price $1.39 above the overall ASP, but had a LSR that was 5.86%
Now, what do these numbers mean? Remember
our selling strategies? Well, we’re not done with them yet! These
tables give us the information we need to make a
If I had a
LSR strategy I would want to list in the first category because my
product would have a greater chance of having a higher LSR. The second
category would be a good choice if I had an ASP strategy. But what
would you do if you wanted a middle of the road option? There’s no
clear-cut answer for that one because neither of these categories have
a really steep drop in either ASP or LSR, so it’d be a personal
decision. What would you do?
Which Day Should I End My Listing?
the last lesson, when we looked at the Findings chart, I had you look
at the End Day option. This section of the
chart is a great resource and it helps you answer this question very
quickly, but if you want to examine the information a little closer,
this is your report. Click , and
I’ll show you what I mean.
One of the most useful
features of this report is the sorting feature. You can sort by
Days of the Week, # of
Listings, Average Price, or
% Sold. Each of these views will make it
easy to make different conclusions. First, let’s figure out which day
will get us the highest price.
I sorted by Average Price and these are the top three days:
So, with no scrolling
involved and only one click, I have the ending day that will give me
the highest price! For an ASP strategy, Friday is the best
Now, if I sort the days by
% Sold, Saturday and Thursday are still in
the top three days, followed by Monday (which increases our LSR by
2.94%, but also decreases our price by $2.11). So, for a LSR strategy
Saturday is our best choice. See how easy this is?!
by # of Listings can also give you some
great information. We’ve already talked about the importance of
checking the number of listings to ensure that we have an adequate
sample size. But you can also use the number of listings to check the
level of competition for each day. If you wanted to find a day when
your listings would have to compete with fewer competitors’ listings,
you could sort by this option and find the day with the least
Which Listing Enchancements Should I Use?
fees are just one of the costs of doing business on eBay, but that
doesn’t mean you don’t want to keep them as low as possible. But how do
you keep your costs low when you’re faced with so many choices when
building your listings? Should you include Bold or Highlight? Is an
extra picture worth it? Well, this final report we’re going to look at
today helps you avoid unnecessary listing fees by showing you exactly
which listing enhancements not only pay for themselves, but also
increase your profits.
Click , and
we'll check it out.
Here are the listing enhancements my report included:
were all of the listing enhancements that sellers of our product used.
No one even used Bold or Highlight so we don’t have any information on
what they would do to our price or success rate.
If we had a little bit of room for
experimentation, using the Bold or Highlight features when selling our
earbuds could be good ways to stand out from the competition, since no
other sellers are using these enhancements.
let’s examine the information we do have. The first chart shows us that
using no enhancements might be the way to go, because these listings
had no extra fees, and had higher sales prices and success rates than
Next, we have the Buy-It-Now option.
Within this report, Buy-It-Now refers to the opportunity sellers have
to add a Buy-It-Now option to their auction-type listings. Adding this
option costs a fee, and from looking at my report, I can see that this
option definitely isn’t worth it. Regardless of how much the fee is,
the Buy-It-Now option is going to cost me money because it’s decreasing
my sales price and my success rate, making this unquestionably an
Our final table, gives
information on the profitability of using the Picture Pak option (this
enhancement allows you to add multiple pictures). Before we even look
at the ASP and LSR, check the number of listings. There were only 4
listings that used this feature. Is that a good, reliable sample size?
No. Even if the ASP and LSR had good news for us, we would want to be
wary, because this information isn’t proven.
weren’t very many listing enhancements used in the listings my search
pulled up. Did your report show more? What can you learn for your
report? If you’d like more information on using this report to avoid
unnecessary listing fees, check out this article
or this video
Putting it Into Practice
you know exactly how to use the Findings
Window to quickly increase your profits! You’re a pro at
using the Findings chart after Lesson 5, and now you know how to
quickly and easily choose the most profitable category, the best ending
day, and how to avoid unnecessary listing fees by using the HammerTap
question reports! Next time, we’ll explore the Listings
Window to find a few more quick ways we can increase our
profits. Stay tuned!
Assignment #6: What answers can you find for your own products?
bet you know what I’m going to ask you to do, huh? Well, get on it!
Check out how much more money you can make on your own products by
looking at the HammerTap question reports. You can either run a new
Product Search or you can look at the reports within a saved search for
one of your products.
finished yet another session! If you have any questions make sure you
send them on to our support
team so we can get them answered for you!
Look for Lesson 7 in your
inbox in a day or two. Or, if you can't wait, move forward to Lesson
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