Every year, more products are sold on Amazon. Which means more and more competition for sellers.
It can be very tough to compete with other businesses working around the clock to knock you off. Which is why in today’s article, we’re going to teach you the ULTIMATE way to stick out above your competitors. For the long-term.
Where Most Businesses Go Wrong
Coming up with a brand-new creative marketing angle isn’t easy. Which is why most businesses end up simply copying each other.
You can see this by searching any product on Amazon. Then click on a competitor’s product. Chances are, they have very similar product description pages. So given that they say the same thing, customers immediately look to price and reviews to make their decision.
Amazon changes every day. New competitors enter the market, or existing competitors change their price or offer. You need to stay on top of your product and react to the market as it shifts. In this article we cover the top 7 metrics you need to regularly monitor for any products you sell on Amazon.
Tip 1 Sales
Once a week, check how well your product has been selling.
Sales of even best selling products on Amazon swing up and down a lot on a daily basis, so it’s hard to check daily because of this. Looking at 7-day and 30-day sales results lets you see trends and averages more clearly.
Use software like CashCowPro.com to track by SKU in detail. It even creates a very useful report for you once a week.
In this article we are going to cover the Top 7 tips on how to find great profitable product ideas for Amazon.
You do not need an expensive tool to research ideas. If you want to check how well something is selling on Amazon – you can use the Unicorn Smasher FREE chrome extension to see product sales estimates for Amazon.
Tip 1 Go Shopping
Go to the mall, go to all your favorite shops, explore any large department stores around you, check out sports shops, hobby shops and specialist stores. Write down any products you see that sell for between $17 and $100 and are smaller than a shoebox. These are the best products to sell on Amazon.
You will be surprised how many hundreds of possible items there are that you can sell once you start looking actively every time you go out shopping.
Tip 2 Look Around Your House
Write down a list of all the items you have in your home that are small and light, and pay attention to the items you use on a daily basis.
For example, things like kitchen spatulas, chopping boards or sports equipment. You might go hiking at the weekend and use a torch.
There are hundreds of products around your home that you could potentially sell on Amazon. Remember – look for things that cost you around $17 to $100.
Tip 3 Go Shopping Online
Browse through Walmart.com, eBay and all your favorite online sites.
Make a note of potential items you could list on the Amazon marketplace. If you’re into, sports check out all the e-commerce shops selling exercise equipment.
On the ecommerce site use a filter to show products in the $17 to $100 range then drill into the options available. I made a list of 100 possible ideas just browsing Walmart.com for a couple of hours.
Tip 4 Write a List of Your Hobbies
Think about all the products you use for your hobbies, passions and interests.
People are willing to pay more for items they need to pursue their interests, and sometimes they develop an obsession so that they have to own all the kit for that hobby. Hobbies like camping and hiking, CrossFit, and photography, for example.
People spend a small fortune to make sure they have all the latest equipment, which makes this a great target market for selling on Amazon.
Start with your own hobbies and expand into a list of other hobbies you would consider selling products in. If you are into fishing – then list out all the must have items that you need. This will give you a great starting point for ideas.
Tip 5 Check Amazon’s Top 100 Best Sellers
I recommend you browse through the top 100 and also the subcategories to see which items are between $17 and $100 and look relatively small. If a product is on this list, it’s one of the top selling items on Amazon, which means it sells thousands of units a month.
Make sure to use Unicorn Smasher to check out any niche you are thinking about competing in. The tool will give you a good idea of how well things are selling.
Tip 6 Amazon’s Also Sold With Recommendations
Using the list you have built up, search for the items on Amazon, click on the products and look at the items that Amazon recommends on the listing page by scrolling down.
For example, a customer who bought a yoga mat might also have bought a yoga block or yoga DVD. Amazon is showing you which items customers buy together and what to sell on Amazon.
This is a great way to find add on items to expand your range and make your brand stronger.
Tip 7 Day-to-Day Items
For a whole day write down all the items you touch and use at home, in the office, and when you’re out. You will be surprised how many products you interact with and need on a daily basis.
You might use items in your work that people are unaware of but that many people are buying on Amazon. You’ll be surprised at the thousands of products you come across in everyday life.
Once you have your list, use a tool like Unicorn Smasher to see how competitive the market is and how many units the product sells each month. The software even recommends if it’s a good product to sell.
You do not have to have a flash of genius to find something good to sell on Amazon. Just writing down all the products you come in contact with at home, the office, shopping or while doing your hobby is enough. From the 100+ products on your list – a handful will be winners for sure. All you have to do is a little research on each to eliminate bad products & focus on the great ones.
Once you have set up a promotion in AMZ Tracker, you then want to spread the deal to as many potential customers as possible.
The best way to do this is through the VIPON platform and also by creating videos for V Show.
Another great way is to reach out to social media influencers about your Amazon business. There are hundreds of instagrammers and facebook groups with 10,000 to 100,000+ followers in every kind of niche.
Imagine how getting your product in front of a few groups could boost your sales!
Tip 1 Keep it Personal
Whichever channel you target, remember that influencers get hundreds of emails a week asking them to promote people’s products.
In this article we are going to cover how top sellers are using Tracker M to get an edge over their competition.
Strategy #1 Dashboard
Amazon is becoming more competitive. The sellers who stay on top of changes in their market are the ones who are winning. It’s hard to get all the info you need out of Amazon reports – just calculating your profits for the day or week can take hours.
That is where Tracker M steps in. The app gives your real time sales and profit data from all your products. And the best thing is – that it is all available right from your mobile in an awesome dashboard.
Sales dropping? You can see it and respond by lowering your price or running a promotion. Having real time data 24/7 wherever you are at the time let’s you manage your Amazon business like a pro. What is great is the sales data is broken down by product too. So you can see exactly how any item is doing.