If you’ve decided that you want to start selling online but you still have no idea what to start selling, you’re not alone. Finding a product that sells is the hardest part of your e-commerce journey and one that takes very careful planning before you go all-in.
Picking a product should be at the very forefront of your new e-commerce product because at the end of the day, this is the element that’s going to impact your bottom line. However, it’s not as easy as picking a product, putting it on your store and expecting the cash to roll in. If you look online, there’s hundreds of blogs posts out there telling you ‘how to make a fortune’ and ‘choose these niche products to boost your business’. Let me tell you, it’s hard work and something you really do need to spend some time on before going gung-ho on your marketing.
Hopefully, this post can give you the advice you need to find that profitable niche and that product that will boost your success online.
At this stage, there’s no right or wrong product. Naturally, you’ll go on a process of elimination as you start to filter out products that won’t work for whatever reason. Grab a large piece of paper, a pen and a large coffee and then go about your work. As a starting point, think about products that you like as an individual and that fit in with your demographic and personality. For example, if I was summarise my own demographic I’d come up with the following:
- Between 24-35
- Interested in; Sports, Travelling, Technology, Fine Dining, E-Commerce, Nights Out, Education
- Educated to degree level
- Middle Class
From here, I’m now able to list a series of niches and products that coincide with my own interests:
- Sports Clothing, Travel Mugs, Hangover Cures, How-to-guides, DIY products
If you take yourself as the target demographic, it’s much easier to find a product that would appeal to a bigger market. It’s also easier to relate to people who match your own demographic as you’re already speaking the lingo and know which copy works, which ads look best and which price point is right for your customers.
Is there demand?
After you’ve got a shortlist of products, it’s then time to work out if they have any demand attached to them. Although basic common sense prevails, there’s a number of free tools you can check to see if your product idea has the legs to do well.
Keyword research – You’ll need to know how many people are searching for your chosen product to see if it’s actually a viable business opportunity. If you find that there’s only a very small number of people searching for your product idea, then you’ll know that this product is either; not popular, too specific or is in the decline stage in its product life cycle. You can use tools such as ‘Google Keyword Planner’ that will allow you to see how many people are searching for your product idea per month.