On your journey to find the perfect dropshipping product. Now that you’ve started your dropshipping store, it’s time to develop a product idea.
You may be thinking:
“I don’t know what to sell; I have no clue where to start looking for products!”
Finding the perfect product can be difficult, but you will increase your chances of finding the best product for your store if you follow these ten steps.
1. Check out your competition
Before you start looking for new dropshipping products, it’s essential to get a feel for what other companies are doing.
Your competition is the most significant indicator of what you should be doing with your store. Understanding their strategy will help guide you towards finding a winning product.
You can check out your competition by:
- Checking out their products on Amazon and eBay
- Looking at their pricing, marketing tactics, and audience reach
- Reading customer reviews (this is especially important!)
- They are scoping out their Facebook page/Twitter account/Instagram feed/etc.
2. Use Amazon to find hot selling Dropshipping Product
3. Look at the Facebook Ads being run by your competitors
Once you have a product in mind, the next step is to see what your competitors are doing.
You can do this by checking out the Facebook ads they are running.
This will give you an idea of what’s working and what isn’t.
It will also help you understand how much money they are spending to get traffic to their store, which is invaluable information when determining how much money it will cost for your business.
- The keywords they’re targeting (are they using broad search queries like “shoes” or “sandals” or more specific ones like “red wedges”)?
- Where does their audience live (are these people from the same city your target audience lives in)?
- How many conversions (that is, sales) does each ad generate?
4. Look at low-cost items with a high markup
- Look at products that are easy to ship. This is an obvious one, but it bears repeating: if the product is heavy or bulky, shipping costs will eat away at your profit margin (and your customer’s patience).
- Look for products that are in high demand. If there’s a lot of interest in a specific item, the chances are good that customers will be willing to pay more than they would because everyone else wants what they’re selling too!
- Find items with low competition. You want something that other sellers aren’t making much money off of yet, so you can swoop right in and grab all the business before anyone else does—this means no one needs much marketing help from you! And remember: don’t go too niche; the broad appeal is critical here!
5. Consider what people buy for themselves versus what they buy for others
This is an essential step because you want to ensure that you’re selling something people will buy as a gift.
Many people are more likely to buy something for themselves than they are for others.
So it’s essential to know the difference in consumer behaviour when considering which products to sell.
If you’re curious about this, why not ask someone in your life what kind of gifts they’d like?
You can also look at recent trends and sales figures from major retailers like Amazon or Walmart.
6. Buyer’s remorse is another factor to consider when choosing a product
7. Search on social media
8. Try Google Trends to see the long term trend of any keyword phrase
Google Trends is a free tool that shows the search volume for a given keyword over time.
This can help decide which products are in demand and which are more of a fad.
For example, if you’re looking at a product called “Ski Poles” with Google Trends, you’ll see that there has been an upward trend since 2009.
That means people are searching for this product on Google—a good sign!
Also, note how many people are searching by month: according to the chart below, January is the peak month, while February through August has declining search volumes.
9. Try Google search suggestions to help your brain think outside the box
The next time you’re looking for an idea, try typing it into a search engine and looking at the autocomplete feature below your query.
This will show you what other people have been searching for about your product idea—and can provide a wealth of inspiration!
For example, if I’m thinking about marketing a fitness program, type “best workout DVDs” into Google.
The first suggestion on this list is “best workouts for beginners”,—which I could use as a basis for my dropshipping business!
10. Look around you; you are by surrounded potential products
- You are by enclosed possible effects; it’s all a matter of looking around you. Look at your daily routine and see if there is something that you could sell. Do a little research in your local area; what do people use?
- Taking this step will make it easier to find the right product to sell. It will also help find the best dropshipping suppliers and how much profit margin they have available for dropshipping products.
I hope you’ve enjoyed this article and that it has given you some valuable insight into how to find the perfect dropshipping product. I wish you all the best with your eCommerce business!