We all want to sell products that are trending and profitable. That’s how you get the ball (and the money) rolling, after all! However, it’s not easy coming up with the right products to sell—especially now that everyone’s practically doing the same thing.
You’ll see tons and tons of articles on finding a winning product to sell on Amazon, Instagram, TikTok, and other e-commerce and social commerce sites. The internet is chock-full of them! While all this information can give you a boost of motivation once in a while, it could still feel like everything you could possibly sell is already being sold somewhere.
Fortunately, there are still many untapped wants and needs of customers that you can capitalize on. There are tons of ideas and opportunities out there, you just have to know where to look. To help you get started on finding products to sell in your online store, we’ve compiled a list of simple strategies that will set you in motion. Read on below!
1. Look For A Problem That Needs A Solution
Customers will always have pain points, no matter how advanced the products we develop and manufacture become. So if you’re looking to develop something that people want, this is the way to go.
Of course, your product or service doesn’t have to be this massive, complicated endeavor to be effective. It can even be the simplest thing that people have missed over the years.
Several product opportunities exist in areas such as:
● Enhancement of product features
● A new market that your competitors have not explored yet
● A creative and unique marketing and product positioning strategy
When figuring out what products you should sell, it’s important to pay close attention whenever you notice typical problems and frustrations with an existing product line. Being keenly aware of the pain points and problems you might encounter in everyday life could just be what you need to give you the inspiration for your next profitable product.
2. Figure Out What People Are Passionate About
Trends can come from people influencing each other’s opinions about certain trades or hobbies. What’s great about this kind of passion is that these people are more willing to spend money to get the exact product they want. That willingness to pay already allows you to come up with products or lines of products that they will appreciate.
Furthermore, you’ll also be enjoying higher levels of engagement and brand loyalty due to a very passionate customer base. You can see this in cyclists who love personalizing their bicycles or golfers who invest hundreds of dollars in equipment that will lower their score by a few strokes.
3. Go With What YOU Are Passionate About
While tapping into other people’s hobbies and interests is always a good idea, there’s nothing quite like selling products and centering your business on something you’re particularly passionate about. While it’s not going to be smooth sailing if you ever choose this route, it’s still worth a try.
Using your expertise to develop and market a unique product might be extremely profitable. Just think about this: being passionate about what you do will not only help you get through difficult times, but it will also help you create a brand message that resonates with customers in a meaningful, genuine, and compelling way.
Let's face it, what else would motivate you to run your online business other than your passion?
By having an emotional investment in your product, you can more effectively communicate its vision and mission to the market. Furthermore, your unique, emotional story will help you stand out among competitors.
4. Read The Testimonials and Customer Reviews of Other Products
When in doubt, customer reviews offer a wealth of information! If you already have an established online business with some traction, it’ll be worth your while to check what customers are saying about your existing products.
Are there any patterns or intriguing customer comments that you can draw upon to create your future product? Pay close attention to any flaws or issues that are mentioned.
On the other hand, if you don’t have a store yet, check out customer testimonials for other brands and their products in the market you want to explore. What do customers wish their products had? What extras or additional products do they frequently mention?
If you're unsure of the business or product category to look into, think about a particular demographic and concentrate on the brands and products that appeal to that group.
5. Take Advantage Of Trends Early
A new business can benefit significantly from early trend detection. By doing this, you can even establish yourself as a market leader and carve out a niche for yourself before competitors can. Additionally, because of the nature of digital marketing, you will have more opportunities to increase long-term SEO traffic and lower your spending on paid ads.
The secret here is to not confuse a fad with a trend. A fad is something that has gained popularity based only on novelty or a gimmick. Fads have endless marketing opportunities, but they eventually die out.
Trends, on the other hand, enjoy a considerably longer demand than fads because they serve an existing need in a new and creative way.
Here are some methods for keeping tabs on trends so you can act quickly as they arise:
● Social Listening. This ranges from something as simple as checking out the top hashtags on Twitter or Facebook to more complex strategies such as employing social listening tools to spot and track trends over time.
● Reddit. It calls itself the front page of the internet for a reason. Reddit features communities covering virtually every subject imaginable. Check out the popular page to find out what the digital world is currently buzzing about.
● Google Trends. This Google tool is a great way to discover what topics are experiencing an increase in popularity over time.
Ideate, Create, And Sell!
A business that started carefully and thoughtfully will always flourish. Once you’ve mulled over the right products, develop them to the best of your ability and finalize your plans. Then, act on the goals you have laid out for your business.
Finding the right product to sell isn’t always easy—but, trust us, all the time and effort you’ve allocated for research and development will never go to waste.
For everything, you need to know about product design, branding, and marketing, follow Lien Design’s blog today!