Finding the perfect product to sell online can prove to be a monumental task for a new business. To help ease the pressure, here are the Top 5 Places To Find Successful Ecommerce Product Ideas.
So how do you go about finding inspiration for new product ideas?
Sometimes you may be lucky enough to have a light bulb moment straight away, but often you need to look further afield for your next golden product idea.
In this blog, we will take you through the top 5 sources for your online product inspiration.
If you haven’t already, it may be a great idea to read our other blog:
8 proven successful online store product types
Take Some Notes! It may be very worthwhile as you go through this blog to write down any potential products or opportunities that come to mind. Inspiration can strike at any time!
Top 5 Places To Find Successful Ecommerce Product Ideas
- Solve your problems
- Look Local
- Get Social
- Review the reviews
- Look at the Leaders
Top 5 places to find Successful Ecommerce Product Ideas
1. Solve your problems
Believe it or not, a terrific place to start could be right under your nose. Start interviewing yourself and finding out what problems you have and what possible solutions could you provide for them. Some of the world’s greatest products have been born out of the necessity to solve our own problems.
For example, you might ask:
• What can save me time or money?
• What can make this task easier?
• What can make me money?
• What can make me healthier or fitter?
• What can improve my life right now?
Did you know: In 1951, Bette Graham invented the first correction fluid in her kitchen? Working as a typist, she used to make many mistakes. Starting on a basis of tempera paint she mixed it with a common kitchen blender and started to provide her co-workers with small bottles.
Reference: Liquid Paper Story
2. Look Local
An idea generator worth pursuing is to simply look around you. Go for a walk or a drive and have a look at the local businesses in your area. See what products they are providing your area and how they are selling these to their customers. There very well could be a golden idea in delivering an improved offering online. Imagine if you could provide a better price and more convenience to the existing clients!
A perfect example of this is how Roses Only perfected online flower delivery. Their business has flourished in an industry that was back in its day typically storefront only.
3. Get Social
An easy way to observe what people are engaging with is by diving into Social Media. Whether it be monitoring your FaceBook feed or following your favourite celebrities or brands on Twitter or Instagram. Much can be researched and learnt from a few hours of trawling the social net.
It may be worthwhile to ask yourself:
• What are people interested in?
• What are the key trends at the moment?
• What are people complaining about?
• Are there any leading products continually being mentioned?
• Is there a gap in the market not currently being talked about?
4. Review the reviews
Product reviews are everywhere on the internet. So why not start researching possible competitors? Find out who’s doing the right things, and who is letting their customers down. Spend some time reviewing the reviews and you may find a product niche perfect for you.
Make sure you read many reviews, as there can tend to be a lot of bogus write-ups online. Ignore the top 15% and the bottom 15%. Somewhere in the middle, you will find the ‘truth’. And who knows, maybe the perfect product idea is out there calling out for you.
5. Look at the Leaders
Finally, and it may seem obvious, have a hard look at the leaders of your category. Look at what they are offering, how they are offering it and what they are achieving. Much can be learnt from the success of others. Perhaps even look outside your field. Maybe you want to be the ‘Lexus’ of Wedding Cakes or the ‘Tiffany & Co’ of handbags. Also, look at which channels they promote themselves in as this may lead to some opportunities for your potential product.
The above list should give you plenty to think about. Have fun researching and keep brainstorming until you have a solid list of products to research and analyse further.
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