Techniques The Pros Use To Find Winning Products To Sell Online

have you ever wondered where successful ecommerce entrepreneurs find their products well in this video you'll learn how to find profitable products to sell online if you enjoyed this video don't forget to hit the subscribe button and be sure to hit the bell button to be notified when new videos come out now more than half of the battle of starting a successful online store involves finding the right products online and as a result i receive between four and five emails per day from readers asking me for niche ideas steve i'm so ready to start my online business but i have no idea what to sell can you just give me two or three good niches and i'll do all the work from there steve i enjoyed reading your six step program and i was wondering if you had some good ideas that you would like to pursue but don't have the time now the funny thing about finding the right niche is that it's really difficult to just sit down brainstorm mindlessly and hope to find the right product to sell sure you might get lucky and come up with a great product idea this way but if you're anything like me creative ideas don't just fall from the sky very often if ever at all in fact when i try to think of niches on my own i often end up wasting my time on commonplace goods that are way too saturated or brilliant ideas that have zero demand so here's the thing you can't take a completely random approach to the niche finding process or else you'll end up brainstorming forever so today i'm going to teach you a methodical approach to finding the best most profitable products to sell online and these are real methods that i use every single day that are based on real life sales data and a specialized set of tools to help me out and as i show you my process the important thing to realize is that you can't let your experiences or your personal preferences bias your thinking otherwise you'll get stuck on a dead end business idea in my experience the best way to break out of a creative funk is by relying on computers and data because they are 100 impartial also if you're curious about what i saw online you can click here to check out my little online shop now when it comes to selling physical goods online i always like to start with a certain set of guidelines during the product selection process now because selling online is completely different than selling in a brick and mortar store you want to choose products to sell that are conducive to online purchases and appeal to the typical online buyer so here are some of my must have product guidelines when choosing what to sell now the product should not be fragile and easy to ship now because we're going to be shipping products to the mail you can avoid most headaches if you choose a practice cell that will not break during shipment the product should not take up that much physical space certain ecommerce business models require caring inventory so it's in your best interest to choose something small to sell and preferably an item that fits in a shoebox the products inherent value should be ambiguous so for example i would never sell electronics because there is a set value for your goods that everyone is aware of on the contrary keepsakes and informational goods are much harder to place a price tag on the product should be timeless once again i would never sell electronics because they lose value the longer they stay on the shelf avoid seasonal goods in general you don't want to choose products that are only purchased during a specific time of year so for example i would tend to avoid selling halloween costumes sell goods that sell from 20 to 200 this is the sweet spot for pricing for online purchases now the following product guidelines are nice to have when choosing what to sell so you might want to ask yourself the following questions have you chosen a niche with related products you can expand into now while we primarily sell handkerchiefs in our store we branded our shop as a linen store so we can easily expand to other markets do your products lend to customers ordering more than one now when we sell handkerchiefs to a bride we rarely sell one instead a typical bride will buy at least four and sometimes as many as ten can your products be personalized now the margins for personalized products are always going to be higher than regular products so if you can offer customized goods you can charge more for them are your products consumable now what's nice about consumables is that your repeat customer rate will be high as a result your sales will tend to be more stable does your niche have a fan base i like to choose products that have dedicated blogs or fan pages because you have an instant set of customers to market to do your products lend itself to content creation now when you own your own shop search engine optimization will be an excellent source of traffic to your store and as a result the more content you can put out the more likely you will rank do your products have a lot of accessories many online stores make most of their margins on the accessories that they sell so it's in your best interest to offer goods that are conducive to upsells and cross-sells now here are the three types of products you can sell online now because there are so many different types of products that you can sell you also need to think about what purpose your product serves is your product like a candy a candy like product is a product that doesn't really solve any problems or offer any inherent benefits but it's a nice to have people enjoy buying them because they bring immediate pleasure and they can be super profitable if they become trendy or become a fad so for example fidget spinners were a popular candy and they sold hundreds of millions of units worldwide in a short period of time but sales eventually fell off of a cliff now the problem with candy products is that when they go out of style sales plummet now you want to ride the wave while it lasts but you can't expect long-term gains is your product like a vitamin a vitamin-like product is a product that has long-term positives and solves an emotional need but it's very difficult to quantify the benefits so for example i take airborne when i'm sick but i have absolutely no idea whether it actually does anything but it does make me believe that i'm fighting my illness so i continue to buy it now the most successful vitamin like products become a habit like airborne and create a psychological need now is your product a painkiller will pain killers solve an immediate need and are the best types of products to sell online now one of the students in my creative profitable online store course abby makes millions every year selling special insoles for women's high-heeled shoes now i'm a guy so i have no idea what it's like to wear high heels but apparently it's extremely uncomfortable to wear all day because her products sell like hotcakes now women all over the world have foot pain and her insoles solve an immediate need i also have a friend kevin who sells a laser hair growth product for men and he makes tens of millions of dollars every year now this product i can relate to because if i was losing my hair i would spend gobs and gobs of money on products to get it back so bottom line the holy grail of e-commerce is to sell a product that solves an immediate problem but most likely you'll find a product that lies somewhere in between a vitamin and a painkiller and that's perfectly fine you can actually make money no matter what type of product you choose if you execute properly in any case once you've reviewed these guidelines it's time to start the brainstorming process from here i'm going to go over the tools and the platforms that i use to find profitable products to sell that meet these criteria so here's how to find products to sell using amazon sales data now amazon is slowly becoming the de facto standard for online shopping in the us with the greatest e-commerce market share of any individual company so as a result sales data derived from amazon is a great representation of overall demand in fact more and more people are going straight to amazon for all their online shopping needs while bypassing google and smaller online boutiques now at first glance it's not obvious that you can derive actual sales numbers from amazon but i'll show you how did you know that every item sold on amazon is assigned a bsr or bestseller's ring now this number is used by amazon to rank how well a product is selling compared to others within the same category so for example here is the bsr rating for silicon baking mats on amazon so what does a bsr tell you about a particular product well based on the bsr you can make an educated guess on how many units are sold per day so here's a bsr to sales chart provided by my buddy greg mercer if you want to do your own amazon sales analysis now using the silicone baking mat example a corresponds to about 10 sales per day so in a nutshell you can browse amazon for product ideas and know roughly how well a product is selling by looking at the bsr and through some persistence and hard work you can probably find a profitable niche to pursue or you can use the amazon product research tool jungle scout now using the method that i just described to gauge demand works great but it's extremely tedious which is why i like to use a tool called jungle scout to help with the research jungle scout greatly speeds up the process by nicely collating all the products on amazon into a nice table for consumption in addition it can also point out specific products on amazon that match your criteria so for example i can have jungle scout return me all the products under the kitchen and dining category that make at least 5 000 a month with less than 100 reviews this is extremely powerful now in addition to jungle scout i can also use an amazon keyword research tool made by viral launch to help me find keywords for products that people are searching for in amazon after all if people aren't looking for the product that you want to sell on amazon then you won't make any sales now what's powerful about the viral launch keyword tool is that it finds and collates keywords for you that have high search volume and low competition and by assigning a star rating for every keyword you can instantly know which keywords and products have high demand and low competition alright so here are just some additional guidelines for a great product to sell on amazon now as you scan through all the products on amazon using jungle scout here's what you need to keep in mind does the overall market have sufficient demand so even if you can find a single product on amazon that sells reasonably well it's important to gauge the size of the overall market for demand and the best way to verify demand is to look at the monthly sales estimates for similar products on the front page for your product keywords so personally i like to see at least 1500 sales per month across all the sellers on the front page after eliminating the unrelated products now you also have to gauge the competition on amazon the overall strength of a product listing can be approximated by the number of reviews that has amassed and in general i'd like to see the average review count for the listings on the front page for your product keywords to be under 100 reviews and most importantly can you add value years ago you could just throw up any product on amazon it would sell but today you need to think about how you can add value to the existing market by making a better mousetrap as a result i always take a deeper dive into the competition to see if i can sell a product that has superior benefits to what is already out there so for example let's say i want to sell yoga mats online well because yoga mats is an extremely competitive market i might want to differentiate my product by offering a special six inch mat that no one else is selling now as i'm looking at the competitors on amazon using jungle scott what i don't want to see are one or two sellers completely dominating the market a dominant seller usually means that the product has a strong brand that is driving sales which makes it much more difficult for you to break into the market and then finally are your margins high enough ultimately the goal is selling products online is to make a profit so you need to look at the average selling price and make sure that you can source the product at a sufficient margin and in general i shy away from any product that does not sell for at least 20 bucks and the cheapest place to source products online is generally from asia now is your product niche enough now the best products sell online cannot be readily purchased at brick and mortar stores and as a result try to pick a product that is more obscure and not mainstream so for example my online store sells handkerchiefs online which generally cannot be found in more stores now you can also use ebay sales data to find products to sell now similar to amazon ebay is also a great place to look for potential products in your store and even though amazon is a much larger marketplace ebay is actually a great place to do research because you have access to sales data in real time a lot of sellers on ebay bulk import goods from asia at a very low price and just simply list them on ebay for a profit however because ebay selling fees are quite high it's hard to make a good profit on auctions so if you can find high demand goods on ebay and create your own online store around these items you can potentially make a lot of sales and not have to pay ebase high final value fees in fact my wife and i started on ebay for our listing by listing our goods with auctions in order to gauge demand before we launched our full-blown online store now to brainstorm practice on ebay simply type a product on ebay search bar and then look for the sold listings link in the sidebar and click on the check box voila ebay will now display a listing of products that have sold in the product category of your choice along with the final selling price and with this info you should be able to get a good idea of the demand and the selling price of a wide variety of products now you can also use google search to find products to sell now while some people like to shop on amazon or ebay others go straight to the search engines to do all their online shopping and since google is the largest search engine in the world it makes sense to look at what people are searching for to find good products to sell now the easiest way to obtain search data is by using the google keyword planner which is a free tool from google and by looking at the exact keywords that people are typing in you can get a good idea of what products are in demand and how much revenue you can generate however interpreting the search results can be a little tricky for one thing you need to only look at keywords that are product focus so for example the keyword outdoor gardening tips would not be a good keyword to focus on because people are likely looking for information a much better keyword to target would be something much more specific like plastic compost bin the other thing you must consider is the competition for that keyword and how hard it is to rank and search which is information that is not provided by google's keyword planner now to analyze product demand and competition in search i like to use a tool called long tail pro now like the other tools i mentioned in this post long tail pro is a tool that nicely collates the google search results and tells you how much competition a keyword has in search now the key thing to realize when finding products to sell using google is that not everyone who performs a search is looking to buy in fact most of the searches conducted on google are for information as a result when i do keyword research i also perform these additional checks first off i make sure that most of the listings that come up for a given keyword are for commercial use if i see a bunch of blogs and information sites on the front page then that's generally a bad sign i also take a deep dive into the other websites on the front page to see if i can build a better looking and more usable website because remember the success of your business not only depends on whether you can get traffic but whether you can stand out among the competition as well alright so finding and sourcing products to sell does not have to be a haphazard experience and as i've demonstrated there is a wealth of data out there that can help you narrow down what you want to sell online and once you have a few product ideas in mind you can then further narrow things down by performing a supply demand and competitive analysis on your niche now if you find that you can make a good profit on your goods and you can do a better job than your competition then i say go for it hope you enjoyed this video now if you like what you saw there's actually a lot more where that came from if you subscribe to my channel below and if you are interested in learning how to sell physical products online then click over here and take my free six day mini course where i'll walk you through everything that you need to know to get started in ecommerce thanks for watching

Channel: MyWifeQuitHerJob Ecommerce Channel

Views: 15,751

Keywords: products to sell, shopify winning products, winning products, best products to sell on amazon, products to sell online, how to make money online, product research, shopify store, trending products, ecommerce, dropshipping products, product brainstorming, shopify trending products, winning products shopify, dropshipping product research, shopify product research, amazon product research, jungle scout, selling on amazon, how to sell on amazon, amazon products for sale

Id: hzCcG2i0jmE

Length: 15min 13sec (913 seconds)

Published: Tue Sep 21 2021