New eBay Research Software that Quickly Uncovers What Consumers Want to Buy
June 2nd, 2007 by Skip McGrath
What are the most wanted items on eBay? This can easily be answered by utilizing a new software tool called AuctionYen that analyzes eBay’s Want It Now.
Ever wondered what eBay buyers really want to buy? This question has challenged online marketers for years until the release of a unique brand new software tool called AuctionYen. I have been playing with this great eBay tool for the past week and it has really opened my eyes to new possibilities and new ways to make money on eBay.
AuctionYen automates a difficult research method which identifies keyword combinations that occur throughout thousands of posts in the eBay Want It Now section. This data is extremely valuable because they are requests from eBay buyers that want to buy something they didn’t find on eBay.
The the Want It Now section is where eBay consumers can post a request for a product or service they want to buy on eBay. In return, an eBay seller can respond to these posts by simply pointing the consumer to their auction listed on eBay. EBay reports that over 20,000 Want It Now requests are posted every day. This section is extremely useful for the established ebay seller that is already selling items on ebay and most likely landed a profitable niche.
On the other hand, from a marketing research point-of-view, this section provides valuable data that can be used to find a specific niche or product idea for someone starting their first eBay business. This can also be applied to someone with an established eBay business by increasing their product base.
The Want It Now section is split up into several categories similar to the main categories given for auction listings. Most Want It Now categories contain several thousand posts written by eBay consumers asking for items they want to buy.
First, this indicates extreme desire to purchase an item because most eBay consumers will simply move on to the next web site or stop searching for an item if they cannot find it. Therefore, if an eBay consumer enters a post in the Want It Now section, this means there is a strong desire to purchase that given item.
Therefore, if a certain item is requested several times throughout the Want It Now section, an eBay seller can reasonably assume that there is a high demand for that item. More importantly, if that item has little to no responses from eBay sellers, then it can be reasonably assumed there is low competition given that most eBay sellers monitor the Want It Now section.
Therefore, the ideal product or niche idea should have a high demand with no competition.
The Unique Method
In a certain category there may be several thousands posts and certain eBay keyword combinations will occur more than once. More specifically, these keyword combinations may describe a product or niche idea.
eBay sellers can spot these repeating keyword combinations by copying the post titles into a spreadsheet program such as Microsoft’s Excel or OpenOffice’s Calc. Then sort the entries alphabetically using the sort button in the menu bar.
Taking this one step further, one could also copy the titles and the number of responses associated with each title. Then sort the titles and spot the repeating keyword combinations while keeping track of the total number of responses which indicates the competition for that given keyword combination.
For example, at the time this article was written there were 22102 posts in the Everything Else category in the eBay.com Want It Now section. Using this technique, the keyword combination "pottery barn kids" appeared around 25 times with about 5 total responses.
This indicates the demand for products related to "pottery barn kids" is high and the competition is fairly low.
Also, a search for the keyword combination "pottery barn kids" in the eBay.com Want It Now section resulted in over 360 related posts throughout all categories!
Although, using a spreadsheet program can work with this unique method, it can be difficult to manually spot these repeating keywords and keep track of the total number of responses per keyword combination.
A better solution is to use a new software tool called AuctionYen that extracts, sorts and analyzes the Want It Now data into several data grids containing word combinations ranging from 1 word to 5 words. AuctionYen was specifically designed to calculate the quality of a repeating keyword combination making it extremely easy to spot those hidden niche or product ideas.
The next obvious question is, "How can someone use this valuable information to make money on eBay?"
Simply look through all the posts related to "pottery barn kids" and order these products online or buy them at one of the many Pottery Barn outlet stores. Now, return to eBay and list these items in auctions, and finally post responses to all the consumers asking to buy these items in the Want It Now section!
Another option, is to uncover niche ideas using this method and then get a writer to create a digital product related to that niche to sell on eBay. (You can hire writers cheaply at elance.com).
This is a great way to uncover hidden niche markets on eBay.
Finding what eBay consumers really want to buy can be an easy task by using the new AuctionYen eBay Research Software. This tool quickly extracts the repeating keyword combinations with few responses uncovering possible product ideas for a new or existing eBay business.
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