This is a guest post by one of ImportDojo Master Class members’ (Thomas Albiez) and his partner (Gil Francis Lang)
I have been working with Thomas from the beginning of his FBA venture and he just listed his first product boasting incredible numbers in the first few days. He has started his own blog focusing on FBA for the German speaking market and has been documenting his journey along the way (www.privatelabeljourney.de).
The blog is in German, so if you are German speaking or if you use Google translate plug-ins you can get the site translated. I definitely recommend you to check it out. He was kind enough to translate one of his latest blog posts about “finding the perfect product” into English for you guys. So without further ado here is his guest post:
About the Author: We (Gil and Thomas) are active entrepreneurs in the German speaking FBA market. We run a Mastermind Group as well as a Blog (PrivateLabelJourney.de), a Faceboook Group and a Youtube Channel. If you speak any German or like Google translated content, please feel free to check us out.
Our background to start things off:
We started with the good old dream of living a financially free live and being our own boss, whenever and wherever! Through a lot of trial & error and with plenty of help from amazing people we discovered how to quickly build highly profitable brands on Amazon. Everything we teach, comes from two guys that were starting the same way that you did as entrepreneurs with a dream!
Proven methods to quickly find the perfect product to improve upon, to bundle or to just market better.
Especially in the early stages of creating a successful AMZ business, we get asked the same question a lot: „How do I find the perfect product to source from overseas.“
People are looking for guidelines and specific help on finding their first product. They are typically not sure what to look for or they simply cannot decide what product might work for them.
Next to the knitty gritty knowhow that people naturally lack in the beginning… there often is that missing spark, that will lead to things starting to roll.
How to create that spark is what we are going to discuss in the upcoming blogpost. So sit tight!
Start with this!
“The be aware of products around you method”
It’s all about awareness. If sourcing & AMZ is always in the back of your mind, every little thing you see or do might remind you of a product that you could create and source… to solve a problem or meet a need in the market.
Try to take a pen and paper with you for several days. Write down, what you have bought, what you saw others buying and every little thing that comes to mind during that period of time. Golden moments are when you think “hmm this would be much better if…”
You can check your notes later and compare with products that are sold on Amazon.
“The Junglescout method”
I am sure you are familiar with Junglescout.
If not, here is what it does: Junglescout it is a Google Chrome extension that will pull out data from Amazon listings that you are currently on.
This amazing piece of software will then enrich this data with revenue information. Basically telling you, how much people are selling for a certain list of products. Also it will tell you how hard competition might be.
We use Junglescout a lot just to brainstorm for new ideas.
Because here and there, if you search for a „keyword“ there is no single type of product that will show in results but rather a list of products that will solve your problem. Say you search for „car wash“, amazon results will show wax but also sponges, sprays and similar products used to wash cars.
With Junglescout we can compare revenue data real fast to find possible products to source.
“The list method“
What you do here is search for products with less than „300“ reviews, costing between $12 and $35 and are sold a lot (US Market).
The results will give you a good idea of what types of products might work very well.
We are not saying you should source all of those products, but it will be a good starting point to look for more products.
The same thing applies to these large excel sheets a few people are selling. Just choose lightweight products in a good price range that sell a lot and you are ready to find your next best product.
“The supplier search method”
A method that we use extensively. If you find a good supplier and are very happy about how everything is going you should not forget to ask them what else they are selling. Also ask them what is selling really well to your market. Have them send you a catalogue or an offer sheet with their 15 best selling products.
Often,a supplier will sell 20 to a 100 products pretty well and since you have other items from him/her, it might fit with your other products. So just go ahead and ask 🙂 .
“The Spy on Sellers Account method”
Thats probably a common method most of you already use.
Oftentimes when we find a very promising product, it tells us the seller did something right. Might be he did other good products as well and since many sellers use their account to sell all sorts of products, it can be quite the treasure cove!
Be aware that some seller only sell garbage, you don’t want to spy on them… Use Junglescout to confirm profitable products they are selling.
“The review group method”
This method is a little more advanced.
It uses a reversed engineering approach to find new awesome product ideas. On different platforms such as tomoson.com or all those facebook-review groups where a lot of private label sellers are putting up their review deals.
So these products are FBA products from sellers that were researching and some of them might be exactly the necessary push you needed to get your brain juices flowing!
Look at these products that people are offering on these platforms and get inspired but don´t just copy stuff, think about what you can improve or change on those existing items, think about your target group…what will they appreciate?
“The get lost on Amazon method”
A lot of great ideas start to develop the old-school way!
Looking around on AMZ, browsing from category to category and from one product to another. (Careful you can spend hours doing this….without even noticing)
Dive in deep and just let yourself flow…get lost…get crazy 🙂
You will soon realize that there are endless possibilities to sell successfully on Amazon. You will find products you have never heard of and discover items that you thought no one would buy. Use Junglescount on the items that you think might have potential.
“The PPC Research Method”
If you already have a product on Amazon, I am sure you are running PPC Ads. If not, you definitely should!
I suggest you take an approach and use a lot of keywords to test the waters. And by a lot we usually mean 500 to 2000. To get those keywords use Google Keyword Planner, AMZShark and SeCockpit.
While you improve your campaign and constantly delete underperforming keywords, you see what kind of keywords stick and drive sales to your listing. Those keywords might also be some related product name, not even a direct keyword for your product…
And that´s exactly where you can get ideas of products to source!
“The sponsored products method”
Don’t forget to take a close look at sponsored products while you browse for some keywords.
If you are getting lost deep in Amazons listings, you will constantly see somehow relevant sponsored products.
They are there for a reason. They get advertised because they are selling well!! So you can find a very good product just looking ad sponsored ads.
Why should you search for new products on a regular basis?
After launching your first product you should keep on searching for new great stuff! Why is that you ask?
Per our understanding, there are mainly two methods to successfully run an FBA business these days.
1. You either have a few products in more competitive markets and put a ton of cash and energy into improving and promoting those products.
2. You have a series (lets say 10 or 20) of products in a less volume less competitive niche. While you have very little competition, you might still make 1k per month profit off of each product. So it is really not that irrelevant.
If you are just starting as a side business, the second method is the way to go!
In regards to your private label… you just don’t have enough knowledge, money and feedback to really play with the big boys but you should create it none the less and grow it along the way as private labelling is the only real profitable way to go.
The perfect product
Enough with all those methods, what should your first product be? Are there important criteria?
Everyone is looking for the perfect product BUT not everyone knows what the perfect product should be!
Common doubts about a product are:
• There might be too many sellers already
• Competition is large
• The product is seasonal
• The product cost is too high to start
• You have a rough time finding a good supplier
• The packaging might be difficult
The list goes on and on.
BUT at one point you have to pull the trigger.
Just realise that the sooner you start the better. You will learn a ton and improve over time. You most likely won’t make a killing with your first product, but you will get there step by step!
There is no “100% perfect product”… that we promise.
But that shouldn‘t stop you from taking action and getting things going with sourcing from overseas. If you have done your homework, it is time to start now!
Launch and learn. Everything is progress.