1.MARKET DEMAND – or in other words What kind of products customers are looking for? How your product can solve a problem for the buyer? The best 2 ways to get ideas and real time data about market trends and best selling products are:
SOFTWARE TOOLS services such as the powerful BLACKBOX or TRENDSTER of HELIUM 10 . super useful tools that allows you to dive immediately and get real time data about the market trends, customer behavior, find your main competitors and understand the average market price for your target products.
AMAZON BEST SELLERS webpage. This is a great and fast way to analyze the current trends and best selling products for each category.
2. ALL YEAR ROUND or SEASONAL PRODUCTS? – Strong portfolio has seasonal products (products for Summer time, Christmas, Halloween, beach accessories etc…) and all year round products. In this way you guaranty a constant sales during all year round. It is useful to identify these products in the early stages of the research. It will help you to develop your launch strategy based on priority and season trends
3. ADDED VALUE- ask yourself; What is the added value of my product? How my product is different than my competitors? or how my product makes my client life better? There is no point to launch another useless product to the market or even worse – sale the same product as my competitors only with different colors, font or packaging. If you do that, you’ll automatically be facing the pricing War game (who’s got the lower price). Trust me you don’t want to be in this corner. What we are looking for is a high profitable product with selling price between 35$ – 200$
4. CHOOSE YOUR CATEGORY– with all the good will and god grace – the chances to find your unicorn product that has high demand and low competition is super low, Instead we suggest to just be you! define your interests (sports, outdoor, beauty, house décor etc.) and choose 4-5 categories that you like and try to extract from that new product ideas. Products that you would like but you don’t find
5.NEGATIVE REVIEWS – Define your product based on negative reviews of your competitors. A great way to understand what is missing for a specific product is to read the negative reviews of the strong competitors and suggest an alternative for these necessities.
Ex: let’s say your product is Vitamins. Check the negative reviews of the top 10 competitors ( quantity of pills in each bottle, is it easy to swallow, which material is used, the right dose of the vitamin, bottle type etc.) Analyzing the negative reviews will give you a major advantage for Launch strategy and your PPC campaigns.
6. DIVERSITY, DIVERSITY DIVERSITY – Make your voice heard by creating (original) useful product that can benefits the users. Diversity is the key for success. Make your products stand out from the crowed. Make your listings pop up and shine brighter than others.
Searching for the right product can be a long process but It is super important to take your time and analyze all details.
Defining the right product can save you a lot of money and help you immediately stand out and shine.
We would love to hear from you and show you more ways we can be helpful to you and your business.
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Mail: info@bag-adv.com
