selling online

My 2016 Budget Challenge: Reduce Debt or Save for an Emergency?

Max Wong — Fri, 23 Dec 2016 10:30:31 +0000

[Editor's Note: This is another episode in Max Wong's journey to find an extra $31,000 this year. Read the whole series here.]

Uh oh. Mr. Spendypants' contract is up. We anticipated that he might be out of work in mid-October and have been putting money into an emergency fund all year long for just this occurrence. The situation is not completely dire, as his company has paying work until March 2017. We have a very minor reprieve.

Very minor.

As luck would have it I am also under-employed. I got furloughed this week by not one, but two jobs until a date that has yet to be named in 2017. Ugh. Really? I guess it's not just me who is strapped for cash at the end of the year.

The big conversation Mr. Spendypants and I have been having all week is this: Should we continue to put money toward the $31,000 Budget Challenge, or should we put that extra money into our emergency fund in the event that Mr. Spendypants is unemployed come March and I am still under-employed?

The Argument Against Staying the Course

Who knows what impact the new administration will have on the economy? We currently have slightly over $13,000 in our emergency fund, enough to live off of for four months. But what if the job market tanks and we can't find jobs for six months or a year? Putting all our money into the emergency fund is obviously the less risky move.

The Argument for Staying the Course

Mr. Spendypants is really good at his job in video games. He's had his choice of companies to work for in the past. Also, the video game industry is fairly recession-proof because games provide cheap entertainment for the out-of-work masses. We do trust that with his talent and his 20 years of connections in the industry that he has a 90% chance of quickly finding another paying job, perhaps even before his current job ends in March.

Naturally, the real financial wildcard in this situation is me, Mr. Spendypants' deadbeat wife. If Mr. Spendypants can't find full-time work quickly, will I be able to get a job that pays me enough to cover 100% of our bills? Probably not.

That said, if push came to shove, we could definitely cover the mortgage with my current collection of little jobs. I will just have to freelance that much harder, with no weekends or evenings off. And, even if Mr. Spendypants couldn't find a full-time gig, he could also rustle up some part-time freelance work to cover the rest. The worst case scenario: He goes on unemployment and we have to stop putting money in our retirement fund every month.

Also, if we continue to aggressively attack our $31,000 debt instead of putting all the extra money into the emergency fund for the next two months, we're potentially saving money in the long run on interest. Our debt load won't be so bad if we find ourselves in a financial pinch four months from now. It's much easier to weather a financial downturn, be it personal or global, if you have a small nut to cover.

How to Hedge Our Bet

After a lot of discussion and number crunching, we have decided to stay the course and continue to put money toward both the emergency fund and the $31,000 budget challenge.

This is the riskier choice. To hedge our bet, we've decided to sell off anything in the house we don't totally love to make some extra money. This is a win-win situation for both of us. I get the hated clutter out of my house, and Mr. Spendypants gets more peace of mind.

Initially, Mr. Spendypants wasn't sure that we could make enough money selling used housewares to keep us afloat. Unlike me, he hasn't sold a lot of stuff online. When a copy of Kuon, an old video game that I had listed on eBay for $199, was snapped up in under an hour, he was convinced.

Although I would love to systematically go through our house Mari Kondo-style, Mr. Spendypants doesn't want to have to look at a giant stack of merchandise in the middle of the living room. As a compromise, we're going to do a series of mini-purges where we only pull the things that we can sell that week into a common area for sorting and packing. Since I will be the one managing our online inventory and sales, this means a lot more hunting and packing for me, but I'm not going to argue about it. I have been trying to get Mr. Spendypants to downsize since we moved into Dinky Manor eight years ago. If a little financial panic is what it takes for him to get rid of belongings that have gone unused for years, I'll take it.

Progress So Far

I had the death flu for most of October. One of the suckiest things about the gig economy is that there are no sick days for people who work from home. If I don't do work, I don't make any money. Because I was sick in bed through the middle of the month, I only made $324 creating a database for my real estate agent and $199 selling Kuon on eBay. I am now, also, two weeks behind on all my work, which is kind of a nightmare. The only positive thing about getting the flu is that I was too sick to go shopping for anything, even food, so we didn't actually spend any money.

While I was suffering at home, Mr. Spendypants was suffering at work. His schedule was so crazy, that his bosses ordered dinners in to incentivize him to work late. Between the long hours and the catered meals, he was too busy to go shopping for anything, even food, so he managed to sock away $1,101 from his paycheck.

Goal: $31,000

Amount Raised: $25,219.17

Amount Spent: $12,853.66

Amount Left to Go: $18,634.49

This article is from Max Wong of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The 5 Best Sites to Sell Your Arts and Crafts

Ashley Marcin — Mon, 29 Jun 2015 11:00:13 +0000

Maybe you create art or make crafts as a hobby. Or perhaps you've been dreaming of starting your own business using your homemade items as stock. Whatever the case, there are plenty of places online where you can list your wares and earn some pretty decent coin in return. Here's the lowdown on a few of the most popular marketplaces for crafters and artists.

1. Etsy

Over 30 million people from across the globe use Etsy to buy and sell anything from handmade jewelry to one-of-a-kind house decor. You can even sell craft supplies and rare vintage items, if that's more your speed. Overall, this is one of the most popular arts communities online and even offers the convenience of cool features like gift cards.

Another bonus is low costs: there are no membership fees on Etsy, and it costs just $0.20 to list an item until it sells. The site does collect a 3.5% fee on the total sale price (including shipping) of each item. All sales transaction are done through Direct Checkout, PayPal, check, or money order. To learn more, check out Etsy's comprehensive Seller Handbook with details on photography, shipping, growth strategies, and more.

2. eBay

Marketplace giant eBay has been around since 1995. If you can dream it, you can likely find it somewhere on the site for a price. A few of the more prominent craft categories on eBay include woodworking, scrapbooking, ceramics and pottery, textile art, craft supplies, and even origami. One of eBay's most unique features is its different buying structures, including auctions. You can set a low auction starting price on your items and/or choose a set Buy-It-Now amount.

Whichever you choose, understand that there are various selling fees involved in all transactions. You'll likely encounter an insertion fee, final sale fee, and some upgrade fees, depending on how you choose to list. The amounts vary by item, but — for example — a $30 sewn doll with $5 shipping will cost you $3.15, according to the fee calculator. Read eBay's Crafts Selling Guide for more details on making listings, selling your stuff, and shipping.

3. Bonanza

"Find everything but the ordinary" is Bonanza's site motto, and for good reason. You can discover anything from crocheted potholders to beaded necklaces to original canvas paintings. Better yet, the site is well known as a good alternative to some of the bigger name marketplaces out there. Over 50,000 sellers have shared that they prefer the site to others like Etsy and eBay for the low fees, customer service, and profitability.

Like eBay, you'll find the craft items among many other things for sale like collectibles, women's retail fashion, makeup, and more. The difference? There are no fees unless your item sells. You'll encounter a 3.5% fee on final order values less than $500 — but that's minus a shipping fee exemption of up to $10 to keep some extra money in your pocket. Check out the Selling on Bonanza guide for more information.

4. Zibbet

How about no listing fees, no sale fees, and a free account? That's exactly what you'll get with Zibbet. The site stays true to its mission by selling only handmade items — and absolutely nothing that has been mass-produced.

If you currently sell goods on Etsy, you can use the site's handy import tool to automatically switch your listings to Zibbet. You'll also find some powerful promotional tools, like custom coupon codes and gift certificates that get buyers clicking again and again. Take advantage of your account's statistics to track your sales and progress. For more about selling with Zibbet, check out the site's selling page.

5. iCraft

If you're trying to avoid sites that are bogged down by too much unrelated merchandise, check out iCraft. The site features handmade items exclusively — nothing vintage, for resale, or food related — and is quite selective about what can go up for sale. Their guidelines may sound overly specific, but your audience will be greatly targeted by the time they reach your store to browse around.

There is a one-time registration fee of $25 to set up a store with iCraft. Instead of the standard listing fees included with other marketplaces, you choose between subscription rates ranging from $5 to $15 a month, depending on the number of items you'd like to list. That might all seem steep, but there are no commissions on sales. Plus, subscribers who pay their annual fees upfront get a 10% discount. Here's where you can learn more about iCraft's selling policies.

Have you used online marketplaces to sell your crafts? Tell us about your experiences below!

Like this article? Pin it!

This article is from Ashley Marcin of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How I Still Make Money with eBay

Kentin Waits — Mon, 06 Jun 2011 10:24:06 +0000

In the glory days of eBay, the marketplace was ripe for amazing profits. Grandma’s hand-knitted doilies sold for $10 each, vintage puzzles with two pieces missing sold for $25. Buyers were drunk on a heady concoction of new technology mixed with dot-com incomes and childhood nostalgia.

Those days are gone. Today, eBay is a larger, but more somber virtual place. Independent sellers who aren’t managing their own drop-ship businesses struggle to survive. Making the hunt, listing, packaging, shipping, and customer service worth our time is an ongoing challenge.

I’ve been antique picking and reselling on eBay since those halcyon days — 1997, to be exact. After all the bubbles and bursts, I’ve settled into a modest groove with eBay. Some days are certainly better than others, but to stay consistently profitable in the new eBay era, I’ve embraced some old concepts. (See also: Secrets of Top eBay Sellers)

Generalize

I used to focus on antiques from the early-to-mid 1900s (think Fiesta Ware, Bakelite jewelry, and the like). Today, I’ll sell anything from cowboy boots and eel skin wallets to replacement gas caps. Times have changed, and in order to consistently source goods, I have to know a little bit about a lot of stuff. Appealing to a broad range of buyers from different categories and interests also helps avoid market slumps in a single area.

Be Ruthless About Overhead

I get most of my shipping supplies from the recycling bin (thanks to a large apartment building nearby) or from generous retailers who don’t mind me rummaging through their aisles on stock day. $4 per roll for packing tape is insult enough — I cringe if I have to pay retail for bubble wrap. I stock up on boxes and supplies of all sizes and quantities regardless of what my immediate needs are. Preparation is the key in avoiding last-minute packing expenditures when I need to a get a shipment out the door.

Research

Research is vital to ensure profitability in nearly every business. eBay is no exception. Prices fluctuate, tastes change, and new trends evolve nearly every day. Understanding what my customers are after and/or what they're having a difficult time getting is the groundwork that informs every purchase I make. Thankfully, eBay has created tools that make this research much easier. Sellers can view completed sales to investigate final prices and save keyword search terms for ongoing sales research.

Stay Ahead of the Trends

Once I know what’s selling and for how much, I can’t get too complacent. The marketplace is fickle and trends are constantly changing. Staying ahead of trends helps me be “first on the scene” for potential buyers and helps avoid paying more for these items when the word has gotten out.

Understand Your Area

Once I know what’s selling online, I can see opportunities for profit around my physical location. For instance, in the Midwest most people ignore mid-century furniture or accessories. But online, there’s no category that’s hotter right now. Though the locals may chuckle, I know that finding a 1950s starburst clock or 1960s “BoHo” purse is money in the bank.

Price to Move

Other sellers may argue with me on this one, but I price my items to move them quickly. For me, sitting on an item for two months while I wait to get my ideal price is frustrating, time-consuming, and typically futile. If an item doesn’t sell at my first listing price, I lower it until it I can (still profitably) move it. Only as a last resort do I sell to break even — and that’s just to recoup my investment and move on something more profitable.

eBay will continue to evolve and selling on eBay (or sites like it) will continue to be a challenge as even more people get in the game and the sources of good used items erode. But for the moment, there’s still a bit of meat on the bone, as my grandfather would say. You just have to look harder for it.

This article is from Kentin Waits of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Craigslist vs. eBay: Where to Sell 10 Common Items

G.E. Miller — Thu, 02 Jun 2011 09:48:19 +0000

Craigslist or eBay? When you are trying to get rid of clutter around your house and make a little extra money, that question can be challenging. Particularly when you want to get the biggest return possible for what you are selling. (See also: The 9 Secrets of Highly Successful Craigslist Sellers)

With each item, you'll want to consider the following:

How much would shipping cost?
Is the extra income I'd make via eBay worth the hassle of shipping it out?
Do I want to risk auctioning the item or go with the safe-bet price?
Are there enough people in my vicinity to sell the item through Craigslist at all?
Is the risk of meeting a stranger on Craigslist worth a few extra bucks?

So why don't we take a look at 10 common items that you may sell through an online ad and see if it makes more sense to post each item on Craigslist or eBay.

1. Furniture

You may be able to fetch more for a given piece via eBay, but shipping costs can be absolutely prohibitive unless you're talking about a smaller, highly coveted piece of furniture (i.e., an antique). I was just able to sell an old bed via Craigslist for $150. The shipping would have been at least that much if I tried to sell it on eBay. Winner: Craigslist

2. Media Items

When you are selling individual books, CDs, DVDs, video games, or vinyl, demand is often a necessity in order to find a buyer. Winner: eBay

3. Vehicles, Recreational Vehicles, and Bikes

Cars on Craigslist has become a big business. I was able to sell a car for the same price I bought it (used) two years earlier. The demand is sky-high. Once again, shipping becomes a prohibitive factor here unless you have something very unique that could fetch a much higher price with the added demand you'll get via eBay. It's also tough to find buyers who are willing to shell out significant funds without first checking the condition. Winner: Craigslist

4. TVs

There will be a local supply/demand for just about any type of TV on or off the market. At the same time, they are very heavy and fragile, which poses major shipping concerns. Winner: Craigslist

5. Event Tickets

I've really struggled with this one myself. I have only bought tickets from Craigslist ads; I've found that eBay prices are too high, and I can get a better deal buying from someone locally in the last few days or hours before an event. But this post isn't about buying, it's about selling. If you have tickets for a high-demand event and have a few months or weeks to sell and ship them off, eBay is the way to go. If you have to unload a ticket a few days prior to an event or less, Craigslist may be the only option. Winner: Depends on the timeframe

6. Clothing

The fact that you can try something on in person might work out to your advantage if you list via Craigslist. But 9 times out of 10 (if you're as picky of a clothing buyer as I am) it will not. When you sell via eBay, the buyer will rarely return the item if it comes as promised. If they don't like the way it looks on them, they'll usually just re-sell it. Also, shipping is often inexpensive. Winner: eBay

7. Used Cell Phones

I've seen three-year-old outdated cell phones bid on up to over $50 on eBay. My theory on this? People fall in love with particular models, are locked in to contracts, and when their devices fail them, have to get them back. Because they can no longer easily find the older phones, they are willing to bid up to surprising levels on EBay. This is definitely a category that benefits from nationwide demand. Winner: eBay

8. Computers

Computers are such a commodity with the only big differentiators being the hardware and operating system, that they are frequently bought and sold at the local level. They can also be pricey to ship and very fragile, and a computer is an item that people may want to try out before buying used. Winner: Craigslist

9. Tools

Tools are a category where size really does matter. The smaller the tool, the more likely you'll be able to fetch a larger amount for it on eBay because of higher demand and lower shipping costs. The bigger the tool, the more likely you'll have significant local demand for it, and shipping costs become prohibitive. Bigger tools usually fetch higher prices, too, and buyers typically want to look them over. Wow, so many innuendos. Winner: Depends on tool size

10. Pet Supplies

When Fido goes to that little doggy place in the sky, he often leaves behind dozens of items. Americans are expected to spend $51 billion on pet supplies in 2011. That's a lot of crates, beds, bowls, and more. You're typically not going to be able to re-sell small used toys, but there is a lot of demand out there for the larger pet items. Dozens, maybe hundreds of people in your community are becoming first-time pet owners every day. When local demand is high and shipping costs are as well, turn to Craigslist. Winner: Craigslist

Deciding whether to sell on Craigslist or eBay varies for every product. I've provided some general guidelines here, but there will always be exceptions. Before you list a product, I'd recommend that you check existing and completed listings for that product on eBay and also search for that same product on Craigslist. Find out what items have been sold for. That, along with estimating shipping costs, should give you a great idea which option will give you the best return.

This article is from G.E. Miller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Big Changes to eBay That Will Make You Really Happy

Paul Michael — Thu, 17 Mar 2011 11:36:08 +0000

The world's biggest auction site is making some major changes, and you're gonna LOVE them. Whether you buy or sell on eBay, these are changes that will save you money and time. This is a prime example of what can happen with a company listens to its customers. The updates are scheduled to launch on April 19th. (See also: Secrets of Top eBay Sellers)

Free Listings Are Back, and They're Here to Stay

This is the biggest news for me, and it's better for everyone. Casual eBayers and sellers with eBay stores all benefit. As a casual eBayer, your listing is free, and you will only pay a tiny percentage of the final value fee. As a seller with a store, rates are reduced. Either way, when sellers pay less, buyers also pay less. Here's how it breaks down:

Free Auction-Style Listings and a Free Buy It Now Option

For casual sellers, this is a huge change. From April 19th (until further notice, it seems) you can list your auction-style items for free. You get up to 50 items per month, and you can add a free Buy It Now option to any or all of them. How does eBay make money? If the item sells, you pay a small percentage of the final value. And, starting July 6th, the fixed-price final value fees will be reduced and applied to the total amount of the sale. This includes shipping. Quite simply, from April 19th on, it's going to be a lot cheaper to sell anything on eBay!

Good News for eBay Store Owners

Although you don't get free insertions, the final value fee rates for both auction-style listings and fixed-price listings will be reduced and applied to the total amount of the sale. This starts July 6th, so you have a little longer to wait before the savings kick in.

20% Discounts for Top eBay Sellers Remain

The new rate structure will not affect your 20% incentive, and top-rated eBay sellers will continue to earn this killer discount on final-value fees. However, the 5% discount for PowerSellers who are not top-rated will end on June 1st.

Finally, the eBay Shopping Cart is Coming!

We all love getting deals on eBay. But how annoying is it to have to do separate transactions with every single vendor? Well, that's about to change. The eBay shopping cart will allow buyers to pay for items from multiple sellers, both auction and fixed price, in one easy checkout. Nice!

Plus, Even More eBay Upgrades

Improvements have been made to the whole shopping experience on eBay. There will be new ways to search for products, with even more options available to help you narrow your search or list your item. This is a much-needed improvement for clothing, shoes, and accessories, which now require mandatory item specifics. And if you buy or sell motor parts and accessories, new rules have been put in place to reduce buyer questions and build confidence.

The eBay site as a whole will be undergoing improvements to increase the confidence and trust of buyers everywhere, with particular attention on international eBay transactions. More information is available in eBay's Spring Seller Update, and you can keep on top of the many improvements coming to eBay on the blog eBay Ink.

Or, if you want a quick five-minute update, check this video out from Todd Lutwak, VP of Selling Experience for eBay.

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The 9 Secrets of Highly Successful Craigslist Sellers

Paul Michael — Mon, 07 Mar 2011 13:00:14 +0000

Most of you have no doubt used Craigslist for the usual reasons. Either you’re looking for something (a home, used stuff, a job, or maybe a partner) or you’ve got something to sell or offer. Either way, there are tips and tricks that you can utilize to make the most of the service. (See also: Craigslist Shopping 101)

In fact, just a little knowledge can make the difference between selling an item in days (or even hours) and seeing it languish in the archives for a month before reposting. Follow these guidelines, and you can get much better results the next time you post something on Craigslist.

Note: These are tips for getting sales results, not general Craigslist tips. You should of course be careful whenever agreeing to meet people, giving your personal information, and so forth. For those kind of tips, please look at Craigslist's safety and scam information, and check out the very helpful Craigslist forums on your local site.

1. Repost to Keep Your Ad on Top

Wouldn’t it be nice if you could just hit a button and your ad from last week would shoot to the top of the page today? Well, sorry, that won’t happen. Craigslist has put measures in place to stop that. Mostly it’s to stop spam posters from engulfing the site. But there are workarounds that spammers can’t be bothered with, and you should consider them if you really want to get your ad noticed. Buyers don't want to go through pages and pages of old posts, and if you wait 30 days to repost (the time is takes for your ad to expire), it could take a long time to get it sold. If you haven't had a response within a few days of posting, it's probably time to repost.

The following video will show you everything you need to know, but there’s an abbreviated step-by-step guide below.

Go to the video

Make sure you have a Craigslist account before you start posting ads. You don’t need one, but it makes life so much easier.
Post your ad in the usual manner (following the tips below).
On the following day, log in again, right click on the ad you'd like to repost and open it in a new tab.
Right click on "edit this posting," and open that in a new tab.
Right click on the "category" you have your ad posted in, and open that in a new tab. (All of these tabs enable quick back-and-forth editing.)
Click on the "post" button to the far right and select a category and location.
Go back to the tab containing your original ad and copy and paste each section into the new blank template. When done, click continue.
Fill out the annoying captcha code.
Now go back to your old ad (it should be on the second tab) and delete it.
Your ad should now be reposted at the top of the category.

2. ALWAYS Post an Image a GOOD Image

We’re visual creatures. If you are selling something, whether it’s a house, an old TV, or even yourself in a personal ad, post an image. The majority of people will click on image-based ads first. In fact, when I’m looking for something used, I filter out the ads that don’t have images. My reasoning — if the person isn't posting a picture, there may be something wrong with the item. And when you post photos of the item, make sure they are good, clear, crisp color photos. Don't take a shaky, out-of-focus photo with your cell phone and call it a day. That just irritates the buyer. They'll move on.

Photo credit: Lumachrome

3. Don’t Put a Question in Your Headline

If you’re posting a job, a personal ad, or perhaps a service, it may work to your advantage. People are drawn in by questions if they are appropriate. Questions are really effective for personals. But if you’re selling something tangible, like a home, a car, or an object you don’t want any more, I strongly suggest you keep the headline purely informational. Consider these two headlines:

Phillips 27” LCD TV, Like New, In Box, $230.

How can you resist this gorgeous new 27” Phillips LCD TV? Only $230.

They basically contain the same information. However, the first is a no-nonsense description. The second feels like salesy marketing talk, and that makes me feel like a used car salesman is trying to sell me an old junker with a new paint job. Be direct, just like any listing in a catalog for Best Buy or Target. That goes double if you’re selling a home. Say it like it is, and don’t try to be clever. It will hurt you.

4. Be as Specific as You Can Be

Remember, you’re trying to sell something that people will have to go out of their way to come and collect. Before they spend the time and the gas money to travel to your home or place of business, they want to know as much as they can about the item. I’ve seen listings that had barely one line written about them.

Bookcase. Quick sale. Cash. $25 FIRM.

Yeah, great. But an ad that has photos of the bookcase along with dimensions, type of material, condition, history, maker and location, well, that one is far more enticing. It says a lot about the seller too. One could hardly be bothered to post the ad; the other has done a good job. That may not be a true reflection of the type of person you actually are or the condition the item is that you're selling, but on Craigslist, first impressions are everything.

5. Do Your Homework

And you thought homework was all behind you. Craigslist is vast, and many millions of items are posted on it every year. So if you're selling your old sofa, how do you make sure your offer is more attractive? The best way is to spend some quality time on Craigslist. Search the ads, and see what similar sofas are going for. Do you see a sofa that has been posted over and over? What was wrong with it? Why didn't it sell? Price too high? No pictures or bad pictures? Really dig deep. Once you get the lay of the land, you should be able to write a compelling ad. But then there's the other tricky part...

Photo credit: merfam

6. Make Sure the Price Is Right

Like most negotiations in life, this one is all about compromising between what you want and what the buyer wants. Buyers want to pay as little as possible, and you want to get as much as you can. So post an item with a price that's way too high, and you'll get no bites. Post too low, and you'll lose your bargaining power. Craigslist buyers will always try and knock some money off, and you'd be wise to factor that in. Generally, I take the absolute lowest price I would be willing to accept and add 20-25% to it. That's not applicable for everything (a home or car for instance), but it's a good rule of thumb. Post your sofa for $300, and take no less than $225. Chances are you'll get $250 for it, and everyone's happy. And most important — accept CASH only, preferably in $20 bills or less.

7. Pair Up Items That Go Together

It may seem obvious, but many people will list a crib and a glider in separate posts. But chances are if someone's looking for one, they may very well need the other, too. So pair them up. Offer a discount for taking both off your hands. If you are willing to split them, you can mention that as well. Your single ad could sell two birds with one post.

8. Be an Eager Beaver

I'm not a huge fan of instantly replying to emails or calls. But as a seller on Craigslist, you increase your chances of selling your items if you email or call people as soon as you can. Most people will blast several emails out to different sellers, and the first one to respond gets the sale. Make sure you're first, and be polite and enthusiastic. If you're leaving for a business trip or vacation, post your ad when you return. And if you find yourself responding to a deluge of emails, try Texter to minimize wear and tear on your fingers.

9. Consider Trades

Bartering is alive and well, and it's on Craigslist. These days, people have a lot of stuff they don't want, and a lot of stuff they do. One man's trash is another man's treasure, so if there's something you want that's as good as cash, mention that too.

Following these nine tips should get your items moving faster than sunscreen in a heat wave. And if you have any great selling tips, let us know. Oh, but before I sign off, one final word...

Be a Good Craigslister and Remove Items That Sold!

It's happened to me countless times. I search for something, find just what I'm looking for, and blast off an email. Then I get a reply saying, "Sorry, that sold." Well, why's the ad still up? Even more annoying, as the days go by, you search for that same item, and that ad's still there! Please, littering Craigslist with your old ads is not helping this invaluable community.

Like this article? Pin it!

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The Power of Retargeting

Chris Birk — Thu, 03 Feb 2011 19:56:42 +0000

Link:

http://www.openforum.com/idea-hub/topics/technology/article/the-power-of-retarge...

For many consumers, it's rarely love at first sight when it comes advertisements and online purchases.

Only a small fraction — around 2% — of visitors who click on an ad actually wind up making a purchase. That's a chilling and sometimes deflating statistic for entrepreneurs and site owners.

Tweaking conversion strategies, site layout, and other key elements can help eliminate some of that fallout. But the reality is there's still a huge chunk of visitors who flee your site without spending a dime.

Yet all is not lost. Enter the power of retargeting.

Getting Your Ad Front and Center

This increasingly important marketing tool allows business owners and marketers to strategically display their own advertisements to consumers as they search the Internet.

Retargeting drops a cookie in visitors' browsers after they visit your site. Entrepreneurs can essentially keep track of visitors and their product preferences out in the greater world of the web. Using that data, business owners can target ads to consumers on scores of different websites. Former site visitors will see ads for your product regardless of whether they visited your site during that particular browsing session.

The cookie dropped in visitors’ browsers is anonymous, and each visitor receives a specific identity on your network. If you’re concerned that you’ll overwhelm web surfers with your ad, you can institute frequency caps. Doing so limits the number of times a former visitor sees your ad in a 24-hour period.

A slate of recent studies and surveys have championed retargeting as a crucial strategy for marketing professionals and entrepreneurs. Retargeted consumers are 70% more likely to buy something than non-retargeted shoppers according to a study from Criteo. They're also more likely to spend upward of 50% more. The same study concluded that personalized retargeted ads are six times more effective than standard banner ads, and four times more effective than basic retargeting ads. Nearly half of all specialized marketers contacted in a joint study by SEMPO and Advertise.com pointed to retargeting as the most under-utilized online marketing strategy available.

Successful and struggling online retailers alike can use retargeting. This marketing technique gives you an edge over competitors since you’ll be drawing repeat visitors. Retargeting is especially effective for big-ticket items that require research and comparison, which means more browsing sessions.

The Costs of Retargeting

Retargeting budgets can be just a couple hundred dollars a month. Business owners can certainly spend more or less depending on their needs and their marketing budgets. Entrepreneurs can connect with providers and agencies that offer retargeting services such as Collective Media, Fetchback, and White Pixel; and even some larger brands, like AOL, offer retargeting options.

This article is from Chris Birk of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Six Months as an Amazon Seller

Maggie Wells — Thu, 17 Jun 2010 12:00:16 +0000

Back in January, I looked at my contract work for the spring and realized things were going to get a little sparse for a few months. I also was cleaning house and realized my books were not only double rowed on the shelves but tripled in some places. I had to stop the madness and also be able to still pay bills. Enter Amazon.

After six months I can safely say that I've had a variety of experiences with various features and exchanges with customers and the Amazon monolith itself. Here's what you need to know.

1. Figure out your goal for selling

You aren't really going to make that much money off of Amazon unless it's your life and you have nothing else to do and you have unlimited access to books you can sell. My goal was cleaning out the garage and getting my bookcases down to single rows with no extra file boxes full of books anywhere. My financial goal was being able to buy plane tickets and paying off one credit card. So far I'm about 65% in meeting those goals. It'll take another 3 months to meet all of them.

2. Decide which books to sell

Out of 2,000 books in my private collection I listed about 1,500. In a good month, I made about $600. In a low month I cleared $150. Not too shabby, but not worth quitting the day job. What sells well? Recent edition text books, small print run collectibles on small or interesting presses, and collectibles. If you go book scouting to yard sales and library sales pay attention to presses. No one wants to buy something that Costco is pricing under $10 and is a best seller with a million copies out there. Those are going to come up worth a penny when you look them up. But a hard to find photography book might yield $50 or a recent translation or reissue of something from the 1940s on New York Review of Books Press consistently sells for ten bucks.

I have good luck selling Grove Press books, the aforementioned NYRB, and any small press or university press books. If you see a philosophy book at a library sale for fifty cents, pick it up — philosophy texts are not revamped every year and have limited press runs. Someone donated a book of philosophy text books and our local library had them in a corner destined for the dump. I picked them up and each has sold for at least $10 a piece. Steer away from any textbooks on technology or English composition if they are more than a year old — they aren't going to really be worth anything and will be too heavy to ship economically. Small run poetry books don't really lose too much of their value over time because they are hard to find and have a very steady audience. So if you are at your Friends of the Library Sale, pick up the book from the poet you never heard of but put down that copy of Eat, Pray, Love. Too many copies of that one floating around.

3. Choose your price

If you look up prices of books on Amazon enough you'll realize that there's a heck of a lot of books being sold for a penny and shipped for $3.99. Amazon is going to take about $1.99 of that. So, while you want to be competitive, don't get in the position of paying the customer to take the book of your hands. If I kind of wanted to keep the book anyway I listed it at a highly competitive price. If it is something I'm trying to get out of here I priced cheaply. I find if you can give a good description of the book and maybe not be the cheapest price you still fair well because customers like descriptions.

Take the time to browse books you like and are familiar with. You are going to have to invest at least a weekend or two in this. Don't just price by the other sellers because their goals might not be the same as yours. I have one book listed at present for $99 because it is out of print, hard to find, and that $99 is 5 dollars cheaper than my next competitor. I have at least 100 listed at $5.99. It's all about which book it is and how rare it is. I tend to price karmically. Many of the expensive books I list could sell for $20 more but if I got them for cheap I sell them at that discount. I don't want to gouge anyone. At the same time if you sell a collectible too cheap then you cause a spiral of downward pricing that will get every seller on Amazon angry at you.

4. Pick your fees

If you have only a few items you are trying to get rid of then listing single items takes a dollar an item. If you have tons you might want to take advantage of Amazon's $39.99 a month plan. Sell one good art book and you have the month covered.

5. Prepare to deal with customers

Amazon abides by the customer is always right mode of operation. It sounds like a great idea until you have customers that are less than ideal. I've had three crazy customers and one rational one that gave me negative reviews out of hundreds of sales. For the one guy with a legitimate complaint (creases on the backcover I didn't notice) I'm truly sorry. However, in case of the woman who canceled the order and then wrote a complaint that I never sent it, I'm kind of mystified. Most people do not leave feedback if they liked the transaction. People who like to complain or had a negative experience do leave negative feedback. You know how it takes thousands of A assignments to maintain your A and only one F to bring it all down when you're in school? Same thing applies here. I had two of these in one month that made my ratings go way down but thankfully that was a few months ago and now they are back up to almost 100%.

6. Manage packaging and shipping

You can invest way too much money in packing materials and tape. We didn't want to do that so being the saver I am, I had boxes of envelopes and boxes and packing material. I've yet to have to buy anything to ship anything in. I also asked the two store owners who went out of business if they had extra stuff they wanted to get rid of and got more packing materials that way. People are always wanting to get rid of packing materials. Don't buy them unless you really need to. I just buy mailing tape which is expensive enough as it is. Also keep in mind how much Amazon credits for shipping. If you have a heavy book it's going to be over the $3.99 credit they give you so make sure you can make up that difference in the price of the book itself. Make it easier on yourself and your postmaster and start a stamps.com account or something similar if you think you are going to be shipping 50+ books a month.

7. Gems of the experience

I think my best sell was a book I picked off of a free giveaway table. It was a French textbook and turned out to be worth $75 and I was able to sell it for $50. My husband found a brand new house design book for a dollar that sold for $89 (it's listing price was $125). I'm just glad I was able to buy plane tickets to bring my kids to visit my grandmother without breaking our budget, that the credit card is now under control, and that while the bookcases are still double rowed, I've at least been able to get rid of ten file boxes of books.

This article is from Maggie Wells of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: