How to find the "perfect" product: 7 tried and tested ways
Is there a proven product search method? How is it guaranteed to find a cool product? Are you familiar with these questions? These are the questions most often heard from people planning their business on Amazon. IO Scout product trends for Amazon will give ideas for new products is no easy task: 99% of existing salespeople have been through the throes of choice. The rest, they say, were simply turned on by the light from above and they saw their product in a shining cloud. If your immediate plans don't include one or two insights, let's see how we can find our 'perfect' product for sale on Amazon.
The "Look around" method.
Every day we come into contact with a mass of different products: from a toothbrush in the morning to... a toothbrush in the evening. Try living a few days with your notebook and pen in your hand, imagining what you could sell on Amazon. Write down everything that comes to your mind, even the little things - then sort them out and sort them out.
You might get an enlightenment, it usually starts with, "Well, that would be better done like this...". As a result, you will not only find the product, but you will be ready to modify it. All you have to do is look at the products on Amazon and make sure that the product (or its close variations) isn't yet sold.
The method of "magic" utilities
The solution to the problem of finding a product to sell on Amazon has become so popular that several companies have already started developing software designed to ease the search torment. Most of these programs and utilities are paid for, but there are also some free ones. Let's look at them.
Happy IO Scout
IO Scout product research for Amazon is one of the most useful and well-known plugins for Chrome browser (don't try to screw it on Opera, Safari or Firefox). It makes life on Amazon a lot easier for salesmen.
The plugin works very simply, but is able to get a lot of useful information from the Amazon page. The order of action is as follows:
- In the Amazon search box, type your request;
- When you get the result, click on the plugin icon. That's all!
Here's what's going to happen:
An example of how the IO Scout utility works.
The products in the plugin window are presented in the same order as you see them on the page. The advertised products are marked (Sponsored) and information is also collected on them. For each product the plugin displays:
- Product - you can estimate the quality of the Title by pointing at the product name. To find their products can be useful "poor" taitlas - it is easier to compete with them;
- Brand - the brand under which the product is produced;
- Sellers - number of sellers of this product;
- Variations - number of product variations (color, size, kits);
- Price - the price;
- Category - the basic category in which the given goods act;
- Rank - BSR-rating (Best Sellers Rank) of the goods in the category specified in point 6..;
- Est. Sales - average amount of sales per month calculated on the basis of the current rating;
- Est. Revenue - average monthly turnover calculated on the basis of point 8.
- Reviews - number of reviews about the product;
- Rating - the average score based on the results of consumer reviews;
- FBA - source of delivery of the goods to the buyer: from the FBA warehouse, from the seller's warehouse or from Amazon itself.
The last point, allows you to find goods that are not yet involved in the FBA program, so there is a chance to get an advantage in terms of speed and shipping costs. There is a very important caveat in the plugin:
It is necessary to understand that the average sales volume and the amount of turnover are approximate and calculated values obtained from the BSR indicator. It is not necessary to focus on them as actual.
The data received from the plug-in can be exported to a CSV-file and then opened in Excel. This will significantly simplify further work with the data.
- IO Scout data in Excel
- Fast analysis with DS Amazon Quick View
- DS Amazon Quick View may be another useful plugin for your product. You can install it from Google Play.
The plugin allows you to get additional information about the BSR rating of your product right in the search results. As with IO Scout, this plugin also needs a query, without which you will not receive any information. The results of DS Amazon Quick View are as follows:
If you move the cursor over the product image during the activation of the plug-in, you will get even more information in the window that appears:
- Information about the weight of the product;
- Information about international delivery options;
- ASIN encoding;
- Number of reviews and average customer rating;
- Product warranty information.
This window looks like the following:
- Additional DS Quick View window
Method of list creation
Compiling and analyzing a list of potential products for sale on Amazon is one of the most widely known methods of product selection. The essence of it in the selection of product options for certain parameters: the price range from $ 12 - 40, the number of reviews less than 300, a large number of sales of this product, the BSR rating is below 7000, etc. Whatever parameters you choose, everything will eventually be reduced to a large table in Excel, but the meaning of this is definitely there.
This approach allows you to systematize the data, "comb" them into one system. Each category on Amazon has its own features, you may need to "relax" or tighten the selection parameters. The same IO Scout can supply the input data for such tables.
By analyzing several product groups in a tabular manner, you can see the general trend and select a couple more potentially interesting ones for the future in addition to the main product. It's important to make notes "in the margins":
- Which competitor has a well-designed listing, so that when you get to the design of your product page, you know what you can get;
- List of keywords that can be used in the cover page;
- Bonuses offered by competitors;
- Description of warranty claims.
- Your attention now - will save you a lot of time later, when creating a listing for your own product.
Ask the supplier" method
Dialog with the supplier is another method to search for "your" product. It is more suitable for those who have already brought 1-2 products to the sales level and are looking for a way to expand further.
For example, you have found a good supplier. He delivers goods of high quality, on time and does not strive to raise prices at the first opportunity. Ask him for information about what else he produces or supplies in this product niche. Ask to send you a catalog or just list in a letter 10-15 products that he sells well. Analyze the information you receive as it may be a source of ideas for new products.
The "Spy on the Seller" method.
The other situation is that you found a seller with a successful product: a large volume of sales, a lot of positive reviews or even a bestseller in its category. It is clear that such a product is not worth to compete with. The essence of "spying on the seller" is to "see" what other products are represented by this person or company on Amazon.
Many people use one account to sell different products in different niches and categories. Chasing after the success of a lucrative product that has become a bestseller may result in the seller missing something for other products to oppose. But be careful - analyze such ideas well. It is possible that this product is just garbage without potential and was abandoned for good reason.
The method of "Spy on a group of reviewers."
The essence of the following method of "espionage" is to be as close as possible to the place where new goods are launched. This is quite real, if you join the group of reviewers on Facebook. The ideas of new products will literally "swim under your nose".
If English is very bad and you see that it will be difficult to get off as an American and get into a party of reviewers, that is another option. You can monitor sites where new products are presented to get feedback. One such example is Tomoson.com.
The site is easy to navigate and search - products are sorted by category. Here you may not find a detailed description of the product (weight, planned retail price and BSR-rating), but it is important the idea itself, the spark that will point you to an interesting product.
Full immersion method in Amazon
The method of full immersion in the environment is useful not only when learning languages, it can also help in finding product ideas. Get lost on Amazon, dissolve completely in it. Walk from category to category, product to product, go into reviews, product descriptions, and online advertising. After a while, you will make 2 very important discoveries:
1) Amazon presents endless opportunities for successful sales;
- There are many things in the world that you haven't heard of yet, and they are already being mass produced and sold on Amazon.
What a cat bathing cage is worth:
A cat bathing cage.
And here's the magnetic anomaly detector, which no alien search enthusiast can do without:
Magnetic anomaly detector.
Please note the keywords
As you wander around Amazon, pay attention to the keywords. As you move from one keyword phrase to another, you can also find ideas for new products or at least delve deeper into your chosen topics and see the picture more fully.
For example, by going from a fitness ball query to a proposed phrase, you can find an idea for a fitness ball stand (not our product - very bulky and expensive in delivery) or the idea of a compact ball stand that already better fits the requirements of the new product (weight, price):
Searching for new product ideas
Searching for new product ideas is a constant
If you managed to find your first product quite quickly - it's too early to relax and that's why. Searching for new products and then working with them can be reduced to two basic strategies:
- Find 1-2 products in a competitive market, throw a lot of money to improve and promote them, and then earn on a wave of popularity of the product $10-15 thousand a month (until the wave falls);
- Find a few medium-sized products (10-20 species) in a niche with average competition, but steady demand, consistently run them and earn $1 thousand per month on each.
You can choose what is closer to you, but the second option is clearly preferable, less risky and requires less investment at the start. As you already understand, this strategy forces you to make the search for new products a permanent background task.
The most important thing in product search
- Too many salesmen;
- Too much competition;
- Too expensive product to start;
- And this one is too seasonal;
- And this one's too seasonal; And this one's too hard to change the packaging;
- The competition has bonuses, and I have nothing to offer;
- It's impossible to find a normal supplier for this product;
- What if, while I'm texting the supplier, somebody else starts the same product;
This list of doubts can go on forever and ever. The most important thing to know when selecting your product to start selling sounds like this:
There is no 100% perfect product to sell on Amazon, nor is there a method that gives a 100% guarantee of finding it. The less time is spent on doubts, the sooner a product is found and the sooner sales are started, the better the chances of a successful result.
It is difficult to achieve a good result by theorizing, building complex formulas of dependence of BSR rating on your future potential profit, analyzing competitors for months and conducting complex negotiations with suppliers to get additional $0.05 discount for $100. Search, find, launch and learn as you work. This is the only way you will achieve your desired success.