The word “gaming” comes in various contexts among players and the business-minded. Within the casino frequenting circles, gaming means poker, roulette, blackjack, slot machines, Las Vegas, and other gambling related preoccupations. Among young (and young-minded) players, gaming means MMORPG, the Wii, Xbox 360 or PSP and various popular gaming titles. To high risk merchants however, gaming and gambling are interchangeable avenues that can potentially bring them money. Gaming and gambling are always linked, but the latter always creates more controversy, especially among the moralistic crowd. Here's a quick insight though: Both gaming and gambling businesses make a lot of profit online and still continue to grow in sales every year.
So if you'd rather get rich selling Wii consoles or Playstation 3 game titles instead of online poker then online gaming sales is perfect for you. Before I come up with instructions on how to begin, first be warned: like other high risk businesses, gaming requires that you do a lot of research on market prices so you don't over or underprice. Also, shipping costs play an important role in your profits. Are you willing to answer potential chargebacks and make refunds to dissatisfied customers? Will you provide excellent customer service? Lastly, if you intend to sell games online, consider it a no-no getting involved with selling pirated items.
Now as you soon as you have cleared the debris and finally want to set up your online gaming business, make sure your infrastructure is complete. What are the things that you need? What are the questions you need to ask yourself?
Should I build my own website or sell my items on eBay or other online marketplaces?
Tackle the advantages and disadvantages. For example, selling on eBay lets you gain instant visibility in the market without having to resort to search engine optimization, but you may not be able to customize your page as freely as you can if you build your store with a website having e-commerce capabilities.
What should I do if I thought having my own e-commerce website is better?
Spiff up your catalog with detailed descriptions of the products, add some photos and graphics, pitch in product reviews, or even create a page for blog or forums where you can discuss your experiences with the product. A blog can also help increase the sales as it is search engine friendly and encourages customers to purchase from your site using positive reviews.
How do I accept payment securely?
Consider getting a reliable credit card processor. Depending on your business' status, you may or may not be able to get a merchant account provider locally since domestic banks have strict rules when it comes to gaming businesses. You may then resort to sending an application to a high risk merchant account provider which has a greater acceptance rate than local banks.
What can I do to increase more sales?
As soon as you begin accepting payments, you should make an effort to improve your sales by robust online advertising and smart SEO techniques. But above all, make sure you gain your customer loyalty. The only way to do this is to transact sales honestly and on time. Also, do not forget to hand freebies to your customers to encourage them to make repeat purchases.