Amazon sellers need products to sell. This means time spent searching — often lots of time — and it means your approach to this critical part of expanding your Amazon business can make all the difference.
You’ll likely fall into one of three categories:
- You’re a brand owner, selling a certain type of product, and as such you may already have an idea what you want to add to your catalog next — or you most likely at least know where to start looking.
- You’re a new Amazon seller, and may have a general idea of the category you want to sell in, and maybe even an idea of the product. This helps, but with that you’ll have multiple criteria to consider in order to find something to sell.
- You don’t have a particular brand theme or image, and you just want to sell whatever hot product you can find. In that case you’re really looking at a wide-open field.
In all cases, the same principles of research and discovery apply.
It seems there are an uncountable number of products being sold on Amazon, and while the number is definitely countable, it may as well be infinite. It’s huge. In the multi-millions. The even more amazing thing to realize is that there are millions of Amazon sellers selling them.
How do you compete?
It starts by being able to find the best products to sell. As you may imagine, when you’re trying to compete with that many options and that much competition, there are many bits of data to analyze, and many criteria to consider.
To find the hottest products to sell you need to evaluate your ideas against all the competition out there, and you need to do it for things like:
- Monthly revenue
- BSR (Best Seller Rank) for the product in its category
- Where the product ranks for certain search terms
- Number of daily and monthly sales
- How many reviews that product has
- Average star rating
Even for a handful of products, the task can quickly get overwhelming. Effective research and discovery, therefore, is best achieved with effective tools.
Get A Handle On Product Discovery
Tools set us apart. Since the dawn of time we’ve crafted and used tools to give us a leg up on our environment. With the right tool we can accomplish amazing things, and often in record time. Cut a tree down by hand? Who knows how long that would take. And so we come up with ways to make it easier. Faster.
You could argue that tools are the hallmark of man.
Tying that into our subject here, finding products to sell on Amazon is one of those things where a tool can make all the difference.
ManageByStats offers two tools designed for this exact purpose. Finder, an in-app tool that runs within the MBS suite of software tools, and MBS Retriever, an app that runs in Google Chrome as an extension.
Finder, MBS Retriever and tools like them give you an easy way to validate your product ideas on Amazon, decide if a potential product is worth the investment, and accomplish the huge volume of research needed to select a product in relatively short time.
Quite honestly, searching for new products without such a tool is an incredibly exhausting, hit-or-miss proposition.
So let’s assume you’ve selected a tool to help with your research. What matters next is your approach.
Your Approach To Your Products
Are you a brand owner? Do you consider your brand a cohesive proposition, with product lines, a shared theme, brand image? Or is your brand more of an umbrella, covering products of all types and categories?
Or do you brand at all?
Brand building versus simply going after products that are hot, or something where the only criteria is that it seems likely to sell, are each different strategies, often bringing with them a different approach. With a brand you can define a catalog, which makes it easier to seek out the products that will fill your line-up.
Full disclosure, this author is an advocate of creating a brand. One with substance and meaning, a recognized, emotionally connected, influencing brand that resonates with your customers. This strategy goes a long way toward so many aspects of a successful Amazon — or any retail — enterprise.
With the right attitude, the right tools and a good research strategy, product selection becomes a straightforward, almost fun activity, which in turn leads to often spectacular results.
To Infinity And Beyond
I hope you’re at least having a little fun with your own brand, and your own adventure selling on Amazon.
Product discovery and selection is a big part of running an Amazon business. Branding makes it easier to know what products will fit your catalog, after which product R&D then becomes more focused, and, with the right tools, much faster and much easier.
To your success.