Online business opportunities are constantly expanding. With commerce making big moves online, many people are finding mounts of untapped potential to sell & market goods in the cyber sphere. Depending on the available time and resources that you have, selling and distributing online can become a nice source for extra cash or even a lucrative venture.
Simply put, the eCommerce field can be divided into two categories: people who sell goods that they themselves produce and manufacture, and people who purchase goods from manufacturers and sell them to the end-consumer. This latter category of online retailers has the difficult task of finding the next big thing that’ll sell like hot cakes!
This post is dedicated to the challenges of finding the “goose that lays golden eggs.” As you start setting up an online store or an eCommerce website, we offer the following advice on how to discover the right products to sell.
1. Find a Solution to a Problem
When you’re searching for a great product to market online, what you’re actually seeking is a solution to a common problem. Closing deals is much easier if your product provides an answer to a real need that online consumers have. When you’re considering products to sell online, ask yourself the following questions:
- Which problem does this product solve?
- How does it solve the problem?
- Who is the typical target audience that requires this solution?
- How would you market the solution to that audience?
2. Choose a Product that You Love
If you believe in the product that you’re selling you will by default be more persuasive and reliable when you market it to others. Experienced consumers are quite capable of distinguishing between the used car salesman type that will tell them anything in order to seal the deal, and someone who genuinely believes they have something valuable to offer.
When you truly love the product that you sell, you don’t have to be the best salesperson in the world to be able to convince people to purchase. You can simply be yourself and tell the truth about the advantages of that product. Enthusiasm sells.
3. Research Market Trends
The last thing you want to do is to order huge quantities of products to sell, only to discover that they are totally obsolete or old-fashioned. It’s important that you conduct some market research, focusing on fields and categories that are relevant to you, and see which products are selling fast and which are getting slammed in reviews.
Large eCommerce sites like Amazon, eBay or Target will be able to give you an idea about the popularity of all types of products, but you should also check out niche sites like Etsy, ThinkGeek, Back Country and other specialty retailer that caters to the same audience as you do.
In choosing a product that you want to sell, find the one that can serve as tough competition to the popular products on your research sites, or one that can serve as a great alternative for the least popular products.
4. Stay in Your Element
Imagine a situation in which you’re selling a line of products at a brick-and-mortar location. A customer comes in and asks you questions about product X, or needs your advice in deciding what to purchase. To be able to provide excellent service you have to understand the customer’s requirements, offer useful input on the available selection, and help them make a smart choice.
In an online store the interaction is not as personal, but you still have the duty of providing the same quality of service. It doesn’t make much sense for you to start selling photography gear and accessories if you have absolutely no background in photography, right? Best stick to a line of products that you can relate to and develop a true sense of familiarity with.
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