TAS 497: (HOT SEAT) Is MY Product Too Competitive? Please help!!

It’s time for another exciting Hot Seat Session with Scott and Chris! This is where you get to hear the guys break down the data and product listing from one of their Private Label Classroom students who is looking for input to get their business to the next level of growth. If you find yourself stuck and struggling to find the right piece to make your brand take off, this is an episode you want to pay attention to. What are you waiting for? Have pen and paper ready for this informative episode of The Amazing Seller!

Product research is a vital step!

If you’ve been around the TAS community for very long, you know that Scott stresses the importance of taking your time in the product research phase. On this episode of The Amazing Seller, you’ll hear from Scott and Chris as they explain how the product research step impacts your brand. It may sound complex but the guys do a great job unpacking and explaining product validation. Don’t make mistakes you can easily avoid! Take the time to learn from Scott and Chris’ expert advice including the 10x10x1 strategy so you can get your ecommerce brand up and running.

Get in the right mindset for success.

If you have any hope for long-term profitability for your ecommerce business, you’ve got to be willing to take a few hits along the way. Don’t expect to start raking in profits right of the batt, be prepared to weather the storm of getting a brand up and running. You’ll have a great chance for success if you adopt the mindset of seeing this a multistage process. To a good grasp what you should expect, listen to this episode of The Amazing Seller as Scott and Chris take their time to educate sellers like you on long-term brand success. You don’t want to miss it!

Why it’s important to pay attention to the competition.

Do you have a good idea of what your biggest competitor’s business looks like? Have you poured over their numbers and sketched out a map of their apparent strategy in the marketplace? How would you rank your product and product listing compared to theirs? Would you buy your product over theirs? On this episode of The Amazing Seller, Scott and Chris share why it’s so important to understand your competition in the product space you are hoping to make an impact in. If you’ve missed this important step, it’s not too late! Listen to this episode and get the information you need get headed in the right direction.

How product variations can make your product stand out.

As an ecommerce business leader, you want to do everything you can to make your product stand out and succeed. From featuring sharp, high-quality pictures to cleaning up the content of your product listing, chances are you’ve done a lot to attract buyers and get them to purchase your product. But have you taken it one step further by offering attractive product variations? On this episode of The Amazing Seller, Scott and Chris explain how offering the right product variations can make your product more appealing than the competitions and give you insight into what the market demands are for your product. Hear more about this important topic on this episode!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

• [0:03] Scott’s introduction to this episode of the podcast!
• [2:00] Scott and Chris jump into another Hot Seat Session.
• [5:00] Why it’s important to be thorough during the product research phase.
• [6:30] Red flags that Scott sees for this particular product listing.
• [9:00] Make sure you are in the right mindset for your product to succeed.
• [11:00] The guys break down the numbers for the product listing.
• [13:30] Taking a look at the competition.
• [18:00] Why depth in the product market is something to pay attention to.
• [22:00] Variations can make or break a product.
• [24:00] Chris shares his advice for the seller.
• [26:30] Scott talks about product discovery and his advice for the seller.
• [29:00] Why the product has good potential but not the best option for a first product.
• [34:00] Closing thoughts from the guys.

RESOURCES MENTIONED IN THIS EPISODE

• www.productdiscoverybootcamp.com
• www.theamazingseller.com/scope