| Losing Money on EBAY is good? |
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No-Brainer
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| Losing Money on EBAY is good? |
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I came up with a crazy idea and wanted some opinions.
I'm a distributor for Jerky Direct, which is a multi-level product distributed only in the USA and of course I want to find others who have an interest.
The key motivation for all the ones I found so far, was the quality of the product. The problem is of course, you have to get it into their mouth before they can realize that and that's hard to do over the Internet.
Still, using the leverage the Internet sounds like a good idea, so I turned to one of the most visited sites online, Ebay.
My thinking is, if I sell a sample of the product at a highly discounted price on a regular basis, I should be able to get it in front of at least a few of the 100,000 people searching on there each month and if my price is the lowest available, I should get at least a few sales, right?
The retail price is $6 each, so I discount that 50%. I buy wholesale at $3.48 each and it costs me $1.50 to mail it, which totals $5. They pay me $3, so I get someone who has said they like jerky as a lead for $2.
If they do end up as a distributor, I make $2 a month plus a percentage of all their business and the business of anyone they sign up under them, so is that worth a $2 investment to get the lead?
I do try to qualify them by stating right in the Ebay listing that this is a home business and my motive is to get them to sample the product. I also require them to have PayPal account to make a purchase, so this indicates they are online more than those who don't have an account there. If you go on Ebay and search for Jerky Direct you should find my listing if you want to see it.
So my question to you is, what do you think about this as a strategy? Am I just going to get those who want the discount and will ignore the opportunity, or should a few of them actually be prospects?
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Thu Nov 23, 2006 2:45 pm |
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No-Brainer
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quote:
Originally posted by coaster
If you count one buyer = one prospect, what percentage of prospects turn into distributors?
Of course that will remain to be seen, but I would think after some time receiving more messages to keep it in mind, I could expect to see as many as 30% eventually try it. I'm thinking even one who did could cover the expense of getting a dozen who didn't over a years time. Getting $2 a month commission vs. the $2 a lead expense.
So far I made two sales in the last few days.
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Fri Nov 24, 2006 12:09 pm |
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No-Brainer
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quote:
Originally posted by coaster
In the life insurance biz, which I was in for a short time about 10 years ago, they say that only one in ten of the people you try to sell a product actually buy something. Can you still make money with that ratio?
PS - my own ratio was about one in twenty, which is why I'm no longer in the biz. 
I'm familiar with that statistic having been in life insurance myself for a short time.
Not as a defense, but wouldn't it make a difference because life insurance is so competitive and jerky isn't? The only discounted product I've seen on the shelves isn't fit to feed my dog.
I guess I just need to take the risk and run the numbers, which is what I'm doing. Thanks for your interest.
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Fri Nov 24, 2006 11:09 pm |
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LottomagicZ4941
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quote:
Originally posted by coaster
In the life insurance biz, which I was in for a short time about 10 years ago, they say that only one in ten of the people you try to sell a product actually buy something. Can you still make money with that ratio?
PS - my own ratio was about one in twenty, which is why I'm no longer in the biz.
I was so lousy at selling insurance my district manager said you don't have prospects you have suspects. Which is why I'm no longer in the biz.
The company I worked for said that the average person says no four times before they buy.
Often in the MLM busisness it's timeing. There are people that I have approached and they told me they didn't have time. Well, their situation changed and they ended up pitching me on a MLM.
Another thing the insurance company taught me was "the wheele(sp)" except they knew how to spell the word. Basically with this you tactic you mail 100 people each month. Then month 5 you repeat the first group. By mailing the same people over and over they get to know you. So this is also based on the they say no four times before they say yes theory.
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Sun Nov 26, 2006 12:38 pm |
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fultron
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The only way to know with any certainty is to test. I'd suspect you'd get a lot of people looking for discounted jerky and not much interest in being a distributor, but who knows.
It's worth a small scale test to see how it works out. Worst case, you're out a few bucks and wasted some time. best case, you've found yourself a nice, new revenue stream.
good luck!
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Mon Nov 27, 2006 6:31 pm |
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LottomagicZ4941
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Wal*Mart had beef jerkey for $2 a bag. Wonder if they are trying to kill Jerky Direct? A local vitamin store owner was complaing that they sold suppies cheaper then she could get them. Everyone else charges way more for jerkey. Granted the Wal*Mart bags are smaller; but, it was still fairly cheap per oz. Food has a low security factor around me. I start into a bag of Jerkey and it is gone asap. Except once when I forgot some in my coat pocket and found it later. The stuff was still good in a dried out sort of way.
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Mon Nov 27, 2006 8:28 pm |
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No-Brainer
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quote:
Originally posted by LottomagicZ4941
Wal*Mart had beef jerkey for $2 a bag. Wonder if they are trying to kill Jerky Direct? A local vitamin store owner was complaing that they sold suppies cheaper then she could get them. Everyone else charges way more for jerkey. Granted the Wal*Mart bags are smaller; but, it was still fairly cheap per oz. Food has a low security factor around me. I start into a bag of Jerkey and it is gone asap. Except once when I forgot some in my coat pocket and found it later. The stuff was still good in a dried out sort of way.
If you think about it, you paying $2 a bag for poor quality in a smaller bag and having to go to the Wal-Mart to pick it up and try to find a parking place before you hike into the store and then try to find where they put it this week seems like a rip-off when I get mine free and it's delivered to my door free too, doesn't it?
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Mon Nov 27, 2006 8:35 pm |
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LottomagicZ4941
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quote:
Originally posted by No-Brainer
quote:
Originally posted by LottomagicZ4941
Wal*Mart had beef jerkey for $2 a bag. Wonder if they are trying to kill Jerky Direct? A local vitamin store owner was complaing that they sold suppies cheaper then she could get them. Everyone else charges way more for jerkey. Granted the Wal*Mart bags are smaller; but, it was still fairly cheap per oz. Food has a low security factor around me. I start into a bag of Jerkey and it is gone asap. Except once when I forgot some in my coat pocket and found it later. The stuff was still good in a dried out sort of way.
If you think about it, you paying $2 a bag for poor quality in a smaller bag and having to go to the Wal-Mart to pick it up and try to find a parking place before you hike into the store and then try to find where they put it this week seems like a rip-off when I get mine free and it's delivered to my door free too, doesn't it?
I have put all my "bargans" back on a few ocasions. One time at the thorton Wal*Mart I was in line for over 15 mintues to get some 50cent cotten candy. The cotten candy caught my eye as I had gone in for something else. But it was becomming to much of a time cost to get the cheap candy.
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Mon Nov 27, 2006 8:47 pm |
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MidshoreMoney.com
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You might consider advertising through SnapDollars. Just an idea.
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Sun Feb 11, 2007 6:20 pm |
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lordspoon
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Interesting concept, I like your idea.
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Sat Feb 17, 2007 8:57 pm |
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M.tefa
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| wrong |
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losing money is a bad thing at all
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Sun Feb 18, 2007 12:37 am |
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No-Brainer
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| Re: wrong |
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quote:
Originally posted by M.tefa
losing money is a bad thing at all
How can you say that without any further reason than that's what you think?
There are far more important things in this life than a little money and quite often a little loss can lead to a much greater gain.
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Sun Feb 18, 2007 4:14 pm |
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james.snv
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Hi,
Well loosing money is bad tings at all,and you might consider advertising through snapdollors.
thanks!
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Thu Apr 29, 2010 7:26 am |
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