Mon, 4 July 2016
The number of questions Scott gets week after week about whether or not a product idea is a good one are so numerous that it’s prompted him to record this episode. There are certain things that make for a great private label product opportunity and other things that make for a lot of trouble and very few sales. On this episode Scott highlights 3 of the main things you should look for that would serve as warning signs or red flags that the product you’re looking at is not a good idea to invest in. You can hear it all on this episode of the Amazing Seller Podcast.
Product Research Red Flag #1: Identical Products.
If you’re considering a particular product to sell on Amazon you’ve got to be aware of this one. It used to be an approach for sellers to simply grab the exact same product from a Chinese supplier that is already being sold on Amazon and put it up on Amazon. And believe it or not, they would get sales. But that approach doesn’t work anymore simply because it’s too easy for other sellers to sell the exact same thing and undercut you, steal your listing, and other problems. So if you look at a potential product on Amazon and see the identical product over and over and over, beware. Find more things to be careful of when choosing a private label product on this episode.
Product Research Red Flag #2: Pages and pages of the exact same product.
If you’ve got an idea for a private label product and find pages and pages of the exact same product on Amazon already, you should be very careful. It will be very difficult for you to get your product to make any headway on that product. Why? Because there are so many of the same thing. But there is still a possibility and it lies in whether or not you’ll be able to differentiate a product enough to make yours desireable in ways that the competition is not. You can hear Scott dive into the issue on this episode and ramp up your private label sales.
Product Research Red Flag #3: When you see the exact same product on the websites of suppliers.
The reason you don’t want to try to start selling a new private label product when the images and product description on the suppliers website is exactly what is already on Amazon is because that product is easily copied. Not only will you have tons of competition for sales on that product, you’ll also have a very high risk of your product listing being hijacked and you will lose control of the buy box and your overall ability to control your prospects for sales. You can find out exactly what all that means on this episode of The Amazing Seller podcast.
How can you sell a private label product successfully in a crowded market?
The answer is to make your product unique in some way that the buyers truly care about. How can you discover the ways you should differentiate your product? You’ve got to a little legwork by reading through the reviews about similar products that have been left on Amazon. You’ll discover things that actual buyers have complained about regarding the product which translates into improvements you can make to the product that will make yours more desireable. You can also look at related products that could be added to your product in a bundle so that your product is not only a greater value but also more unique. Scott has lots of ideas about this kind of thing and you can hear them on this episode.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
RESOURCES MENTIONED ON THIS EPISODE: