When you start your Amazon FBA business, product research is a critical first step. If you have a great listing that is optimized and has great pictures, videos, and keywords, your product will still not sell well if you have chosen the wrong product altogether. This is why product research is so important. In this video and the text below made by the team at Nine University, there is some information about product differentiation. As well as how it is related to product research, and how it can set your business up for success.
Yes, it is important to find a product that has in high demand and has low competition, but that is only half the battle. Once you have zeroed-in on a product with good statistics, it is time to focus on differentiation.
You should think of differentiation as the factors that set your product (or things that could set your product) apart from similar products on Amazon. Basically, you know that if you try to sell a product that is identical to other sellers’ products, your potential buyers will not have much incentive to choose your product over your competitors’.
The first thing that you can do is simply to have a look at the other products available. See if there is anything that you know that your product has that others do not. You should also look to see if your product is deficient in any way at first glance.
After a quick first look, you can then start looking at the reviews of the products from the top ten sellers. This is important because you can determine what is important to your customers, what your product needs to be different, and if you know of any ways in which your product might be a disappointment.
Another thing that you should be on the lookout for is a way in which the market for your product is deficient. In other words, is there a product or a version of your product that is needed but nowhere to be found? If so, you might just have a goldmine. Having an extremely niche product can help with this, just as long as it is in demand.
Believe it or not, reviews can even teach a lot about the trends in your market. This is especially true when dealing with electronics or anything that involves changing and evolving technologies. You can spot these changes in reviews sometimes. When you do, they can help you with your differentiation by showing you new products or versions of your product that you might not have otherwise heard about.
Amazon product research can be difficult, but it is not the only important aspect of running an Amazon FBA. There is a lot of information out there, and there is unfortunately a lot of misinformation out there. If you want to learn everything that there is to know about Amazon FBA, visit Nine University. They have learned everything through experience and are excited to share it with people just like you. Be sure and learn from the people that you know you can trust.
If you are thinking about starting your own Amazon FBA business, click the link above and Project Nine University can help you with every step along the way from startup to profit.