TAS #108 : 5 Tips for Finding Profitable Products and Building a Strong Brand

It’s not always easy for potential Amazon sellers to choose the right products to sell. That’s because there are so many products possible and so many people already selling those products. How do you know which might be profitable? How do you know if there’s enough room in the market for your product ideas? How do you know if you should take the chance? In this episode of The Amazing Seller Scott’s going to walk you through the 5 steps he uses every time he’s trying to figure out if a product idea is worth pursuing. And as a bonus, he’s going to tell you why you should be thinking of building a brand, not just selling a product or two. It’s an amazing episode you’ll want to hear!

There is a lot of value of doing a brain dump.

Before you even start the 5 steps Scott covers in this episode he suggests you first do what he calls a “brain dump.” You want to get out a sheet of paper and a pencil and write down every single idea you have about what products you might be able to sell or be interested in selling. As you do this you need to think about your passions, your pains and problems, your hobbies, and even the things that fall into those categories that were true of you in the past. These are great ways to tease ideas out of your head and onto paper so that you can look at all the options that appeal to you. From there, you’ll have a direction to go. Hear the details of Scott’s 5 steps by listening in to this episode.

You’ve got to find the market that your products can serve.

The market your products will be sold to is simply the people who are interested in or desirous of your particular type of product. Are they baseball fans? Are they watchers of a particular television show? Are they moms who have a particular hobby on the side? You have to be able to answer what your target market is because knowing those people’s interests is what’s going to show you the wide variety of products they might be interested in, products which you could add to your product line.

So you have a product on Amazon… your next step is to begin thinking about a product line.

What’s the difference? A product is a one-time shot. You only have one opportunity to make a sale to people in your target market. But a product line is like having lots of hooks in the water. You have many more chances of getting a bite! A product line that is focused on one particular market is called a brand, and what you need to be doing is building a brand, which translates into having a legitimate business. Scott’s going to cover the specifics of what it takes to build a reputable and viable brand on this episode of The Amazing Seller.

There are at least 8 reasons you need to be thinking about building a brand rather than just a product line.

A product line is just that… a line of generic, random products that fit within the same niche market. But a brand takes on a life of its own. A brand becomes something that consumers look for, by name, and can become loyal to over time. Imagine that, people who want exactly what you’re offering who are looking for you and only you. There’s amazing power and profit in being able to position your business in that sort of a relationship with your clients. It enables your business to soar to levels you never thought possible. Take some time and listen to Scott’s 8 reasons you should focus on building a brand, on this episode of The Amazing Seller.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:05] Welcome to this episode: 5 steps for finding profitable products and building a successful brand!
  • [1:09] The TAS community is growing – www.TheAmazingSeller.com/FB and a shout out to Dale Thomas!
  • [3:07] Your invite to one of Scott’s life workshops – www.TheAmazingSeller.com/workshop
  • [3:55] The place to start: Learn to be aware and to brainstorm by doing a brain dump. Think about your passions and your pains and problems and hobbies.
  • [6:27] The benefit of going back in time to discover what was a passion for you then.
  • [8:30] Understand the difference between having a product and having a product line.
  • [10:15] Step one: Make sure there is a market for what you consider selling that is willing to buy things.
  • [15:44] Step two: Find the needs of the market by reading and listening to what the market is talking about.
  • [17:35] Step three: Go to Amazon and find the category where your potential product/market is.
  • [18:27] Step Four: Find your competitors on Amazon and elsewhere
  • [23:19] Step Five: Drill down to assess what they are selling.
  • [25:04] 8 reasons why there is power in building a brand rather than only selling individual products.
  • [31:40] Scott’s summary of these steps and advice on how to go from there.

LINKS MENTIONED IN THIS EPISODE

Scott’s free workshop  – http://www.TheAmazingSeller.com/workshop

www.TheAmazingSeller.com/FB – the TAS Facebook Community

The Greg Mercer episode about using Jungle Scout – www.TheAmazingSeller.com/56

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