The only way e-commerce still works is if you find a product to sell online and if that product is the RIGHT product. Otherwise – let’s face it – Amazon can beat small business e-commerce stores no problem.
In order to sell in 2020, your product needs to be extremely in demand AND also either:
1) unique or
2) branded well
In this article, I’ll be talking about how to find a product that is IN DEMAND and BRANDED WELL. Products that are unique are also great but that gets into inventing a product, which is beyond the scope of 1 article.
First, you need to find a niche that you’re going to brand as your own…
Find a Niche Group of Products
You’re looking for a group of products that are in demand. What better way to do that than to look to the giants:
#1: Look through the best sellers on Amazon. If it’s not selling well on Amazon, it’s not selling well anywhere else.
#2: Go to Google Trends to make sure that the demand for your product is increasing
Go to Camelcamelcamel.com
#1: Check the history of amazon sales ranking
#2: Make sure it is not seasonal
Go to Facebook.com
#1: Check whether there is 1$ Million Dollars worth of customers for your product
You can sign up for an advertising account with Facebook for free. Through this, you can find the number of people with interests related to your niche. Multiply the number of people by the average price of products in this niche. If you’re selling 25$ eyelashes, you’ll need a much higher number of interested people than if you’re selling a 150$ beard trimmer.
Ensure there is a lot of competition for your niche
Competition is a GOOD thing. It means that people are making money selling in that niche. You want to make sure there’s people willing to pay for advertising related to that product, people willing to promote that product and that the prices are decent.
#1: Check Google Keyword Planner to see whether competition is high for related keywords
#2: Google keywords and check for ads on the top of the page and the sides
#3: Check Amazon best-seller lists to see if they are getting a lot of reviews
#4: Check Facebook to see how many people are looking in that area in the create a advert section
#5: For informational products, go to Clickbank.com and make sure there are a lot of other products
#6: Google the niche and look for Shopify acounts.
Conduct research to monitor your competitors in your niche
#1: Create a new gmail account
#2: Sign up to all your competitors newsletters
This will allow you to gain a ton of ideas in that niche when it comes to email marketing tactics, different sales, seasons, promotions. It will also allow you to gain better insights and be able to see opportunities that you might not have thought of, or see some trends that are going on. Overall, you’ll be able to create more sales by looking at what your competitors are doing and then trying it out for yourself.
Find Ideas for Products to Sell in that Niche
#1: Research a bunch of common problems (at least 10) for that niche and find solutions for those problems with products
#2: Go to Omigili.com and search your niche
#3: Go to Google.com and search “pissed off + niche” or “problem + niche” or “angry + niche”
#4: Go to Clickbank.com and look in your niche
Think of products you could sell to solve these problems or how you could modify existing products to better solve these problems.
Associated Content Related to your Niche Product
#1: Write blog posts or get your outsourcer to write blog posts about these problems and their solutions
#2: Find a bunch of affiliates you can promote in addition to your own product
#3: Go to Google.com and just search affiliates for your niche
Check the Criteria for your Physical Product
Once you have a specific product in mind, check the criteria:
#1: Top 5000 sellers on Amazon (scroll down the product page until you hit product info)
#2: A lot of product reviews on Amazon but less than 1000
#3: Double check the product is NOT seasonal
#4: Go to ebay.com -> advanced -> sold listings and ensure it’s not there
#5: Verify that the product is legit by reading reviews and doing some research so that you don’t loose your credibility by promoting bad stuff
Ensure that the product is not going to be too expensive to ship and store
#1: Ensure the product is lightweight (maximum 1-2 pounds)
#2: Ensure the product is small
#3: Estimate the shipping costs for your product by going online and using a postal service or through Amazon Fulfillment
Price your product
#1: Ensure it is between 20-200$
#2: Do some research on amazon for similar products and price it within the same range
#3: Go to ebay.com -> advanced -> sold listings to get ideas on how to price
#4: Do some research on google for similar products and price it within the same range
LAST STEP: to Alibaba.com and find yourself a manufacturer for your produt and voila! You’re done.
Personally, I have tried e-commerce and find it overwhelming. Not to mention, high-maintenance. I’ve transitioned all my online business to blog-based.
Currently, I have 3 blogs that bring me passive income every month. If you’re interested in doing the same, click here to learn how.
STUFF TO SELL
- Something that is generic but you can stamp it with your own brand
- Something that has emotional meaning to it and that will have emotional meaning to the buyer
- Stuff relating to hobbies
STUFF TO STAY AWAY FROM
- Cell phone & accessories
- No moving parts
- Baby stuff
- Stuff that touches your body (medical stuff)
- Ingestible stuff
Overwhelmed? I was too. That’s why I just make money from blogging now…