Choose the product to sell on the internet
Find your profitable product
Nowadays we have a lot of digital competence. Finding a good profitable product is difficult, but we can always find some profitable product to sell. The most profitable product will appear if you are heading to the B2C market. We recommend that you follow the following steps that we expose below.
Analyze buying trends It is simply to have an initial photo and get the first clues and shorten the search period a bit, for this two simple and practical tips:
Analyze the "Bestsellers" of the main sales pages such as Amazon or Ebay: here we can discard niches on saturated in which it will be very difficult to highlight. The most profitable product appears in niches little exploited and with a good economic margin.
Go to contrasted reports in ecommerce in your country, you can get useful statistics like this chart here:
Search for the right product There is an interesting previous concept of scoring and that is that there are many entrepreneurs who fail because they want to enter a whole niche instead of starting with a specific product. You have to start by detecting a profitable product on which to build parallel products and grow. Unless you're looking to create a brand with a palette of products, this would be a different story.
How can we fix what can be an adequate (profitable) product? these premises can help you:
Small and preferably light product: think that the more you weigh and complicated to serve more cost you will have to assume
That is specific to a niche market
With a price of 10-100 €: if it is more expensive you will lose the impulsiveness of the sale
Sold all year, if it is seasonal you will be up to 6 months without recurring income
With 50% margin or more. Think you will have acquisition, shipping costs ...
At this point, you will probably already have some ideas of what the products with which you think you can go to the next level of search may be, so it is important to determine two key points:
If there is enough demand for business
How "faces" are the keywords related to your product in search engines
For all this you can use the Google AdWords keyword planning tool:
How to find suppliers for the selected product The first question that comes to mind is where to look and for that purpose you just have to follow these two tips:
- Do not do the typical search for: "Supplier of lamps for ecommerce" in Google, basically because the first ones that will go out will be intermediaries like you (therefore you are already buying expensive) or distributors of bad reputation. This is not a golden rule but having done a test on the ground is very likely to happen to you.
- Therefore, where you can search is in specialized directories such as Worldwirebrand, Alibaba or Serviciodropshipping.
The second stage in this phase is how to select a provider between 20-30 that will leave you. The answer is quite common and nothing original if you are used to trading a little:
- Better economic conditions, some ease to start, references of other ecommerce ...
Some tips to start selling Doing a quick pass through some situations in which you can find, I recommend the following:
- First buy some samples and dedicate yourself to sell them before entering large orders to lower the price per unit.
- Before doing that 1st big make sure that your first customers are satisfied since you may have received your first sales but in the long run that product gives bad results. If so, you will have a problem to survive in the business.
- Be sure to include in the business plan the rate of refunds and refunds.
- In a first stage, before setting up an online store for a product that you do not know if it will work, it is highly recommended to start with a "marketplace" on Amazon or Ebay.
When you have your product profitable to sell, you will simply have to prepare a good online marketing strategy. If you do a good job in all aspects you can get good sales results