There are thousands of profitable products to sell online , but finding the one that is right for you is no easy task. If you are starting to sell online you must know one thing: that perfect product you are dreaming of for your online shop does not exist. There are only good and bad products. In order to differentiate one from the other, you must choose the one that is better for you. This is why, if you want to know what to sell, you should keep reading this guide in which we tell you step by step about the characteristics you must take into account. Shall we start?
1. Take advantage of your knowledge
Take a look back at your life. Do you have any experience working with any specific products? If you can base your e-commerce around your personal background , you will find it easier to become a master in your sector.
2. Follow your passion
If you don’t have any experience that you can make use of for online selling, maybe it’s time to reinvent yourself professionally. Think about that something that you have always wanted to do and build your business around it. Your online shop will demand time and effort, long term, and you can only keep yourself motivated if you enjoy the theme you have picked.
3. Solve a problem
Have a look around. Which product could make your life easier? How could you improve the products that you already use on a daily basis? People are only interested in paying for something when they have a specific need. Your role is to solve it.
4. Choose a market niche
Market niches are specific products. It is important that you analyze your potential competitors to make sure that there is a demand for your product. There are loads of tools to do so, both free and paid ones, such as SEMRush . A lack of competitors normally means lack of demand, but if you focus on a much exploited niche it will be very difficult to differentiate yourself. The best market niches are those which have some competitors, but not too many .
5. Look into your keywords
When selling online, it is essential to position yourself using the right keywords in order to get traffic from Google and to save money on ads from Adwords or Facebook Ads . The content of your website should match the words that people use in their searches. You can use Keyword Planner from Google to get some ideas. It is advisable that your keywords are searched for between 5,000 and 10,000 times a month. Alongside this, you should research and add secondary keywords and long tail keywords.
6. Consider your suppliers
You have three basic options:
- Make it yourself : this is the cheapest option since you only pay for the materials, but it also entails a lot of disadvantages regarding scalability. You will need to get yourself 100% involved and even if you do so, you have limited time. If the demand starts to increase, you will have to hire some people.
- Buy from wholesale suppliers : buying huge quantities of already made products is the most common option to sell online nowadays, and the most profitable one. The dangerous factor could be that you miscalculate your demand or that the number or orders decreases and you end up having useless products in stock.
- Dropshipping : this consists of selling other people's products and acting as an intermediary between the maker and the client through your website. The best advantage is the low risk that it implies since you don’t need an inventory of products. On the other hand, the disadvantages are the high number of competitors and the low profit margins, of around 20%. If you want to learn more about it, read this article about Dropshipping .
Analyze the product’s characteristics
There are multiple attributes that you should consider before beginning to sell:
- Price : the final product should not cost more than €100.
- Profit margin : It is useless to sell €100 products if cannot earn a 30-50% profit. Do not forget that you will have to pay for servers, marketing and other personal expenses. The larger profits you earn, the lower sales volume you will need.
- Size and weight : choose small products because shipping large and heavy products will be more expensive.
- Fragility : fragile products will raise the shipping costs and you will have more returns if they break.
- Durability : selling food, drugs, or products that expire quickly will require perfect stock management so that they don’t spoil. It is better to choose long-lasting products.
- Temporality : try to avoid fleeting products, no matter how in fashion they seem. You can use Google Trends to spot rising tendencies related to long term sustainable products.
So, what are you waiting for?
Surely now you have a clear enough mental plan to know what you are going to sell online to start getting into action. Take into account all the things we have mentioned to carry out a good analysis, and especially, don’t forget that the most profitable products to sell online will be the ones that best fit your present situation!