Physical Product Brainstorm Checklist
Criteria for selling a Physical Product:
- Between $10-50 (best if it's between $15-50)
- 100% Margin
- Product Ranking In Top 1% of Category:
These numbers are just a guideline.
The higher the rank of the product the best for sales
- Appliances: 2,000
- Arts/Crafts/Sewing: 9,200
- Automotive: 49,000
- Baby Products: 1,950
- Beauty: 6,500
- Computers & Accessories: 72,350
- Electronics: 106,000
- Health/Personal care: 21,000
- Home and Kitchen: 173,000
- Musical Instruments: 3,400
- Office Products: 19,750
- Patio/Lawn/Garden: 15,000
- Pet Supplies: 6,400
- Software: 1,300
- Sports and Outdoors: 70,000
- Tools/Home Improvement: 45,650
-Under 2 pounds/1 kilo each unit
-Hard to break/mess up
-No large brand competitors (preferable)
Your Product List
1.
Product Name:
Example Listing:
2.
Product Name:
Example Listing:
3.
Product name:
Example Listing:
How to Find Products to Private Label
1.Go to Amazon.com home page.
- Do a Search using a Word or Phrase related to your niche/topic
Ex. soap making
- Check the products you are seeing in the Results page and in that Category
Insight:
I always prefer to give a higher price to my product then my competitors, since I'm the one behind the marketing of it and I would rather need to make less sales to reach my daily income.
- Visit the Amazon page of each Product you find interesting:
a) What is the Ranking for that product?
b) Read the Questions and Answers
(below the product name and next to customer reviews)
How can you differentiate yourself from competitors?
What are people asking?
Are they referring to other possible uses for that product?
Insight:
I love products that are multipurpose (have several functions) since they can be sold in several niches!
How to Test Products
This Marketing Research strategy is to get an Affiliate Link for each of your product, spend $5-$15 to send Facebook traffic to those products to see if you get any sales and if you break even, closer to it or even profit, then that product is something you want to pursue and start sourcing – this way of testing reduces your risk!
1. Join Amazon Associates - Affiliate Program
You have the option to link to your buyer Amazon account and keep it all under one account.
2. After you joined, go to the main page:
and Enter the Name of the Product you want to test in the Search for a Product box.
Ex. soap mold
3.On the Results page you get a list of products and in front of each one you have a 'Get link' Buttom, click it, choose the option 'Shorten URL with Amazon.to' and copy that link.
Insight:
You can also create your own Tracking Id's
For instance you can use a Tracking Id for your Facebook Ads, so you can know the traffic that come in from a specific ad campaign; or purchases after they sign in to your list, etc.
To Create a Tracking ID:
Click Manage > Choose Add Tracking ID > Give it a Name
To Use your new Tracking ID:
Make sure you have that Tracking Id selected on the Tracking Id's Menu, before creating the Affiliate Link.
Note that Amazon only updates Affiliate Stats every 24 hours, so you will have to wait to the next day to check how you are doing with your campaigns.
The Goal:
You want to grab the Affiliate Link for someone else's product, to send Facebook traffic to it to test sales – this is not so much about doing profit with this ad campaign (affiliate Amazon commissions are low), as it is making sure if that product was yours, would you be making a profit with it?
You want to get as close to break even as possible in order to give you a go ahead to source that product yourself, but keep in mind that your conversion will be a lot higher when you own/sell that product yourself, as you will have a LOT more control over the marketing then while selling the product as an Affiliate (where you can only control the copy in your Ad, not sales copy on Amazon listing, etc).
For any questions please attend the live trainings and email: