Do you sell on Poshmark, eBay, Mercari, and others? If you’re an online reseller looking to make extra money reselling online, this article is for you!
Of course, the best way to make more money selling online is to sell more items. As there are only so many hours in a day, try these steps to make more money as a reseller:
1. List More Items
This is a given. But really, analyze your numbers; calculate how many items you have to list, how often, and at what minimum price to maximize your chance of yielding a desirable profit. One of the best things you can do is list items consistently to optimize exposure and stimulate the reselling platforms. Delisting and relisting accomplishes this, too! I use Vendoo’s bulk delist/relist tool to have hundreds of brand new listings every single day.
You only have 24 hours in a day and two hands. If you’re at capacity, consider outsourcing work and hiring help! It takes money to make money.
2. Raise your Prices
Seriously- raise them! If you have excellent photos, through descriptions with adequate keywording to maximize search engine optimization (SEO), boost your prices. The thing is, you can’t sell high if you don’t list high. You can always sell low by making offers, entertaining offers, and price-dropping… but you won’t make an outright sale for a price above your current asking. Raising your prices a tad can make a big difference overall.
I also highly recommend raising your prices enough to allow for free shipping. In Amazon Prime days, no one wants to pay for shipping. Make your buyers feel like they’re getting a steal by incorporating the shipping cost right into the price!
3. Promote Your Listings
Promoting your items is a great way to receive extra exposure and sales! Promotion works differently on different platforms: on Poshmark-sharing, on Depop-refreshing on Mercari- promoting, etc. eBay and Etsy provide various promotional tools and ways to create ads to yield exposure. Whatever “promoting” means based upon where you sell, consider participating in activities that enhance your exposure, audience, and the likelihood of making sales.
Remember, you can always promote your items on social media, too! Social media is arguably the best marketing tool, especially as you acquire a following.
4. Look for ISO Posts
Responding to “ISO Posts” is a great way to target customers and yield extra revenue. ISO or “In Search Of” posts and groups are where buyers post particular items they are looking for, seeking links in response. To find these posts, type “ISO” or “In Search Of” on any reselling marketplace and also on local and themed Facebook groups and pages. Respond with links to listings to your relevant items. You might have precisely what people are looking for!
5. Start Cross-listing to New Platforms with Vendoo
Consider adding a new reselling platform(s). If you’re not selling on eBay, remember that it has a larger audience than pretty much all of the others combined. Consider listing a few vintage items on eBay or Etsy or some mall brand pieces on Poshmark or Mercari. Not only is Facebook Marketplace booming, but there are hundreds of thousands of Facebook groups where you can share your listings, no matter what you’re selling. There are so many different marketplaces that you can list your items in just seconds with Vendoo. Click here to learn about the audience and best-selling items on the major reselling marketplaces.
6. Affiliate Programs and Social Media Marketing
Affiliate programs are a great way to earn cash to recommend products and services that you love. If you are active on social media, turn your tips into cash by joining referral and affiliate programs. Poshmark, Mercari, PosherVA, SellerAider, Jomar, Rakuten, and many other reselling tools and products offer affiliate programs that pay you when someone signs up or makes a purchase using your link or code. Vendoo’s Refer-A-Friend affiliate program has a fantastic payout when new users sign up with your custom link. There are likely programs available for your favorite brands and products outside of reselling, too!
Affiliate programs can be very lucrative, especially if you are passionate about the product or service, and you would recommend it anyway!
7. Enhance Your SEO
SEO is so under-rated. Most sales do not happen by chance or by frivolous newsfeed scrolling; instead, they occur as a direct result of a search performed by the buyer. Maximizing your listing descriptions and information will help your item to yield and rank higher in search engines- both on the reselling platforms and Google. Enhancing your descriptions with details, keywords, executing all fields, and selecting all drop-downs will maximize your exposure and profit.
For more information about reseller SEO and how to make more sales, check out the article: A Reseller's Guide to Keywords and SEO
8. Social Media Marketing and Live Sales
If you do not have social media pages specifically for your reselling business, create those accounts yesterday. Social media is an incredible tool for networking and advertising your business and inventory. You might even consider live sales! Live sales are a super fast way to yield profit while avoiding the fees associated with websites. Skip the steaming, photographing, describing, and listing- and sell live to your buyers online!
9. Raid Your Home and Sell Things Online
Chances are, you have tons of stuff lying around the home that you don’t use, including clothing, books, movies, decor, electronics, toys, and more! There is probably thousands of dollars of stuff that you haven’t touched in years, collecting dust! Time to get listing! You can sell anything on eBay, Facebook Marketplace, and Mercari.
Make it a game- see how much money you can make in two months with stuff that was lying around!
10. Review Your Budget- Cut Expenses & Pinch Pennies
Analyze your budget; where are you spending (or wasting) the most money? What can be done to save more money each week?
Here are some things to consider cutting or adjusting from your reselling business budget:
- Packaging: pretty packing, fancy poly mailers, thank you cards, etc. Consider using free and recycled supplies and electronic thank you notes. They’re sustainable and cost-effective.
- Gas: Consider scheduling package pick-ups or shipping less frequently, sourcing less often, or even sourcing online more! Again, mother earth will thank you!
- Find better deals on everything that you are using. From detergent to cleaning supplies, be sure that you scope the web for the best discount on the items you are using. Or, consider switching to similar but more affordable options.
- Cancel subscriptions, apps, or programs you don’t use.
Pennies add up; every penny you can save or earn makes long-term differences and healthy financial habits.
Here are some things you can do to save money as a reseller:
- Source on discount days and during sales only
- Join reward programs
- Consider an Amazon Business Account for lower prices and earning rewards
- Consider a credit card with cashback rewards
- Consider obtaining a resale certificate to avoid paying taxes while sourcing
- Scan your receipts for Fetch rewards.
You might also be interested in How to Source Inventory for Free or with a Low Budget
What are your favorite ways to earn extra money reselling online? Share with us below!
