Seller Strategies Episode #5: Hidden Trick to Finding a Product to Sell
The Product Research Phase
Welcome back! Before we introduce our next Amazon seller strategy, did you know the latest installment of The Million Dollar Case Study just started? You have the opportunity to follow Jungle Scout as we launch a product on Amazon and show you every step of the process from A to Z.
The case study is still in the product research phase – which is perfect timing for our latest seller strategy! This week, Maria and Ervin are discussing their hidden trick to finding a profitable product. There really is no “right way” to go about product selection. And if you’re trying to find a unique product with low competition, you don’t want to use the same search filters as everyone else!
One of the easiest (and free!) features of Amazon is checking out frequently bought products and even the sponsored products that go along with the product you are researching. It stays under the same category umbrella, but expands your reach into potential niche products. If you want something a little more structured, Ervin recommends the tool Yasiv.
Expand Your Search and Build a Brand
Yasiv has a simple interface that allows you to enter an ASIN and select the corresponding category. Once you hit enter, sit back and wait for a list of similar related products to populate. The results generate a web of possibilities for you to visualize and consider. Think about how you might bundle a few items together, or include along with the original product idea. If you get creative, you have the potential to offer a product(s) on Amazon that no other seller has thought of!
When you think of building a brand rather than just launching a single product, you open up so many possibilities as a seller. There is the potential to grow a following of loyal customers and add a real impact to your sales velocity.
Remember when we talked about Amazon coupons and promotions? Using this seller strategy will also benefit your Amazon store when you’re able to offer special discounts across multiple products. Wherever you’re at in the product research phase, for your first or tenth product, keep in mind the benefits of building a brand.
See you next week!