What are Good Products to Sell?
The process of researching what are good products to sell online can be intimidating, but there is a process. Thankfully, due to the public and worldwide nature of the internet, research is widely available. There are some basic guidelines to set when deciding which products you’re going to try to sell.
Step 1: Generating Ideas
Think niche. Don’t go to the first most common thing you can think of. Write down no less than 100 product ideas. It sounds like a difficult task, but here are 6 ways to get 100 ideas:
- Write down any ideas that have been lingering in your head. If you have thought about starting an ecommerce business, chances are there are some of these in your brain, get them on paper.
- Write down any niche product you can think of (especially ones that would be commonly bought online).
- Expand on broad ideas by branching them out. (Illustration below)
- Carry a notepad and write down an idea whenever it comes to you. Don’t have a note pad? Use your smart phone.
- Keep your ears open, and look for needs, and think of products that can meet those needs.
- Browse categories on sites that sell millions of different items, like eBay. Drill down to the sub categories and keep your gears spinning. Browsing through these will jog your mind to other ideas
Branch your ideas out.
Step 2: Qualifying Ideas
Now that you have ideas, you need to put them through the wringer in order to find out what are good products to sell on your website, or in your eBay or Amazon store. The 3 main aspects you need to do most of your research on are the following:
- Find Your Customers – If your goal is to earn $3,000 a month, then you need to make sure there are even $3,000 a month worth of customers in your market. You can do this by using tools like Google Keywords. Use tools like Compete and SpyFu to get a good handle on your competition and glean any info you can about your market by capitalizing on your competition.
- Source Your Products – Find the best suppliers by using services like SaleHoo, calling manufacturers, and searching trade magazines. For more info, check out How to Find Vendors.
Finding $3,000/Month in Customers
Use Google Trends to make sure your market isn’t shrinking. Use Google Traffic Estimator to find out if the searches are there for your market. When looking for what are good products to sell on your site, you’ll need to take in to account the average pricing and profit margin of your product. If your common product is $50 with a $5 profit, and you can count on a 1% conversion rate, then in order to make $3,000 a month, you need to sell 600 units a month. At 1% conversion, that means you need to reach 60,000 visitors a month.
If you can achieve Google’s #1 result for your keyword, you’ll get between 25-39% of all the traffic from that keyword. So if you take 3 keywords and work on SEO to achieve Google’s #1 result, those keywords will need a combined traffic estimate of between 154,000 – 240,000 searches a month. Now that you have found your $3,000 a month in customers, you can move to check your competition.
Utilizing these basic methods, you’ll discover that finding out what are good products to sell on your website is not only achievable, but it’s easier than you think!
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Tags: ebay, ecommerce, logistics, research, sourcing, suppliers, vendors, what are good products to sell
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