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Deciding What To Sell On Amazon

Continuing with our series covering selling on Amazon and, specifically, how to decide what to sell on Amazon, let’s dive into some of the criteria for finding products.Knowing what to use for your search criteria is step one, and within those criteria you’ll want to use parameters that deliver results.

The Quest

Before you set out to find your next hot product opportunity it helps to know:What are the best product search criteria?When you’re looking for the next product for your catalog, whether it be searching for the perfect fit for your brand image or simply looking to find the most lucrative sales opportunity, there are several basic criteria you’ll want to use to get the best possible results.The key things to review in order to get the best gauge of a product’s sales potential are:
  • Where that product ranks for a given search term.
  • The current price of that item.
  • The category in which that info is ranked.
  • Product BSR (Best Seller Rank) for that product in that category.
  • Sales (both Monthly and Daily).
  • Revenue (also Monthly and Daily).
  • How many reviews the product has.
  • The average review rating.
It starts with a search term, which is how every product search begins on Amazon.“Can opener”, for example.The shopper types in “can opener” and what do they get back? What are the products that come up and, more importantly, how do they rate for each of the key criteria?By using the keywords customers shop by, you can search and review results using your choice of parameters to find the best new product opportunities.

A Brief Note

While in-depth product searches of this nature, comparing dozens if not hundreds of results, can absolutely be done manually, it goes so much faster with a tool.An analogy, like comparing walking from one major city to another versus driving – or even flying – is not a stretch.Doing an in-depth, effective product search manually can take just as long as walking, and leave you just as exhausted when it’s done.Tools exist to help. ManageByStats offers a tool for this called Product Retriever, for example, which is basically your flying car option, but in this article we’re discussing mainly the process.How you get there will, ultimately, be up to you.

Tactics vs Strategy

Tactics are generally more specific actions, whereas strategy is the broader strokes, the bigger game – often composed of many tactics.In this game the strategy is to sell something that has a good demand and yet has low competition.Tactics involve applying that maxim to your product searches. For each new product you add to your catalog, use the following guidelines to find and select products that:
  1. Have high demand, and
  2. Low competition.

Finding That Hot Product

Parameters for the key criteria are where you’ll put your focus.What are the main keywords for the product you’d like to sell?That will begin your search.From there narrow the results to get the perfect “sales window” you’re looking for.Are you looking for results in a certain price range? Many experts recommend a price range under $100, as that tends to be the range of highest volume sales. While others may go specifically after higher priced items, as they know there is likely to be less competition. What are the monthly sales and revenue? Is it a product that can be sold year round? Is it something that you could potentially improve, or add features to in order to jump ahead of the competition?How many reviews does it have? Average star rating of 4.3 or better and between fifty and a hundred reviews is a good window to aim for.Using these key criteria will get you there. And the result will be the discovery of your next, hot product to sell.

Building Your Brand

Whether you’re just starting out or well on your way, one of the most rewarding aspects of selling on Amazon is building your brand. Finding hot, high-selling products that fit your brand is truly the icing on the cake.Your “brand” might be that of a seller who sells anything they can; whatever the hot product of the day is, with no seeming connection one product to the next – with the exception of the fact that it’s a top seller.That’s still a brand.Or you may choose to cultivate a truly memorable brand, with a unique voice and image, each product fitting nicely into that portfolio.Either way, you want to build that brand, and the way to do that is with products that sell.Deciding what to sell on Amazon is where it begins.To your selling success.