In this Episode of The Amazing Seller Podcast I'm going to answer a couple questions I received from listeners about product selection and competition.
I'm going to give you my opinion and how I would approach this in my own business. I personally don't want to always have to heavily promote my product. I would rather go after products that may have less daily sales, but easier to rank and market moving forward.
My plan would be to go after a more competitive product after I have built my brand and have a higher seller feedback rating. This will also allow me to cross promote using my other products using my BRAND. This is why I only want to release products that support each other. It's so much easier to sell to your existing customers than always having to find new ones.
Key Points Discussed:
1. Find one product I can easily promote using My Launch Strategy
2. Find more products that I can sell to same customer (My Finding Products Method)
Quick Competition Check List
- – Best Seller Ranking between 500 to 5,000 top 10 listings
- – Track Sales per day per ASIN (AMZ Shark or FREE Method Shared on Podcast)
- – Check BSR and Price History (CamelCamelCamel.com)
- – Number of Reviews (500 or Less for top 10 listings)
If I find a product that is close to my metrics I look at how I can make the product more valuable or better quality. I would look through my competitors 1, 2 and 3 star reviews. See what people are complaining about and fixing it or adding it to my product.
- 1. Add an Accessory
- 2. Bundling more than 1 item
- 3. Better Quality – Material – Features
- 4. Better Listing (Headline – Images – Bullets – Description)
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