Starting a new business and deciding what to sell online is an exciting challenge by itself. Possibly it is an unknown territory for you and we would like to help you arrive at this decision in the most scientific way to increase your probability of zeroing in on the right products to sell.
Firstly, let us consider the product opportunities that exist. Unless you have a brilliant product idea which itself is your motivation to start selling online, it is a baffling task to choose from the thousands of product ideas available. Let’s explore the opportunity areas which would help you to narrow down on a product:
1. Build a brand that resonates with the consumer:
A better understanding of your potential customers’ will help you develop your brand in a manner that will help create a loyal customer base. Craft an unique brand identity with products that find a place in your customers’mind frame, helping him/her to differentiate your products from that of competition.
2. Sniff out the opportunity gaps:
One of the best ways to decide on a product to sell is to identify and solve customer pain points. Products that identify areas of dissatisfaction among consumers and help solve them do very well in the marketplace. An opportunity may exist in the form of an improved product or an additional feature.
3. Cash in on trends early
Keep a keen eye out for trends that are just starting. Hopping on to the band wagon early may lead to spectacular success.Making an early impression on the customers’ mind and establishing yourself as a leader in the category helps you climb the search rankings aswell.
4. Discover Opportunities in Keywords
As paid advertising is getting more expensive by the day, organic searches can help you generate huge volumes of targeted and consistent traffic. You have to look for keyword opportunities in what customers are searching for and then pinpoint a niche or product that is high in volume yet low on competition.
5. Stoke the fires of consumer passion
Research shows that consumers tend to spend significantly more when it comes to their passions. Photographers, golfers, adventure lovers and many more people like them who follow their passions vigorously, spend heavily on their passions. Online products targeting such niches do very well.
Apart from exploring these opportunity areas, there are several other things you need to do to give your products a chance to do well in the marketplace. Evaluating your shortlisted products and their markets to understand their economic viability, logistics, identification of suppliers and an assessment of the competition you are going to face are all important steps that you have to take.
As you must be aware, Amazon is the most popular online marketplace in the country with years of experience in the online retail business. Amazon would like to help you select and decide upon a product to sell online. Please register yourself as a seller on Amazon here to explore the immense potential of online sales.