Is Your Online Store Serving The Right E-Commerce Niche? Are you selling the right products?
For most Entrepreneurs just starting out… the answer is….
A resounding *nope*.
There are two types of e-commerce entrepreneurs:
#1: The Passionate One. These are the ladies and gentlemen who are getting into e-commerce because they’re passionate about their product. They love it, they’re heavily vested in it, they east/sleep/breath whatever item this may be. And they want to share their passion/product with the world…. While making a decent living from doing so.
#2: The Hungry One. These folks are like me… I won’t lie to you or pretend otherwise… I got into ecom for one simple reason… To make a ton of money and live the life that I want: No more boss, no more commute, making my own hours, and having the money and time to do whatever I want.
So first, let me say that this article/training tutorial is NOT for “The Passionate One”. You’re passionate, you’ve got your product and niche!
Now… onward for my fellow hungry entrepreneurs!
Today with this article I’m going to teach you two things that will mean the difference between no sales and unstoppable sales. Two things that will mean the difference between having a $20 a day store, and a $2,000 a day store. Two things… that will change the game for you.
Take two steps back and close yours eyes… I want you to imagine this… which of these people do you think would be solid “buyers”?
A- Picture a college student, someone scraping change together for Ramen Noodles, beers, pizzas, and maybe some sticky green herbals. Do you think this person is a “buyer”?
B- What about A businessman who makes $70k, $80k, or more per year
C- How about a lonely woman who goes to work, then goes home and watches TV all night.
D- Or maybe an overweight, depressed guy who is desperately trying to change something about themselves.
The answer is that any of these could be buyers, but only C & D would be “easy” wins. A is obviously broke and most likely always looking for ways to cut and avoid costs. B is decently to very well educated and does their shopping ONLY at name brand stores, they also expect free 2-day shipping (thanks alot amazon…) and will not be a good customer for you.
C is home and probably does a lot of online shopping, and the same goes for D PLUS they both have a pain that needs to be solved… can your product help them in some way? If so you could be sitting on a gold mine.
So the point of this exercise was simple, just think about your target audience. Just use your best judgement when picking an e-commerce niche, you don’t want to be trying to sell something to someone who doesn’t want it or has no money for it.
The next thing you want to do is locate a sub-niche. If you start right out of the gate trying to target every cat lover in the world you’re going to burn a lot of money with very few sales. The reason is simple: many people like cats including people who could care less about cat shirts/jewelry/etc.
Facebook records everything… If you target “cats” your ad can and will be shown to people who have interacted with everything cat related at some point in their Facebook lives. Including people who hate cats but had a cat post shared to their wall, maybe someone who doesn’t necessarily care about cats but hit “like” on a cat joke image or funny cat video, or someone male or female who liked a picture involving cats that also had someone sexy in the image (and they really only interacted with the post due to they sexy).
If you were to instead target a sub-niche, let’s say Siamese Cats… You will find a smaller, but much more passionate group of people. Of course with al of your Facebook ads you want to intersect, but the main takeaway here is that going after a broad e-commerce niche like cats/dogs/fishing/etc will not work very well on its own.
Look for smaller segments of these niches and that’s where you’ll begin to find your Goldilocks zone.
Another tip that I can offer you is that finding a sub-niche that you have some connection to, or intimate knowledge of will help tremendously. If you’re your own customer, you will know have a good idea of what products you’re interested in, and where you hang out on Facebook (for your ad targeting)
An example will be a Nurse would be great at selling Nurse and medical field related jeweler and clothing. She would know what phrases they use at work, what they respect, how they feel, and what can make their day a little brighter.
Alright! Now that we have some ground rules out of the way for your e-commerce niche, it’s time to find products for that niche which are actually going to SELL and sell really well. I should note that you can of course go find a product first and then consider the niche, and as long as it meets the guidelines above, rock and roll.
So… what’s my super secret CIA classified method of finding products that rock my bank account?
A little bit of research… in the RIGHT places.
Every Sunday evening I grab a pen and paper and sit down at my desk in front of my computer, maybe with some coffee, maybe with some pistachios, whatever I need to help me relax and get into a good flow.
I’ll search for the following:
I write down all of the hottest selling items that I find along with how much they’re selling for… we want the total here, price + shipping
For Etsy & Pinterest I use the same guidlines as above “niche + xxxx”
This one is a bit different, while on Facebook I’m looking for popular items that are already selling!! Simply search Facebook’s search box for:
In all seriousness guys this Facebook tip alone right here can change your business.
Look for posts with at least 3k+ likes and write down the product, click the link to see the store and write down the price + shipping.
Take your list of 20-30 products and search the following sites to see if you can find a match for them:
or any of the others….
Find the products from your list on these websites and see if they’re profitable. Basically compare the price your competitors are selling them for to the price + shipping (epacket only if you’re dropping from China… DO NOT use anything less, unless you’re doing free + ship).
If you can squeeze a 30% or better profit margin then you have yourself a winner.
Now it’s time to test!
One word of caution: if you find a winning product but have no idea of your angle or audience that you’d target for it, hold off on testing ads until you’re more experienced or have done a boat load of market research.
A lot of times you can look at a product and be like “wow, that watch looks like some steampunk thing” or “damn that has biker written all over it!” – these are easy wins if you can clearly see your target market in a product that you found using this method.
And there you have it guys! This is how you quickly, and easily find winning products that will make you a ton of money.
Now if you’d like to watch over my shoulder and be able to follow along step-by-step as I make all this magic happen, be sure to sign up for our upcoming 5 Day Challenge Below! Through this mini video training series I’m going to teach you step-by-step how to go from $0 to $200 per day in profit in just 5 days.
So if you’re trying to get into e-commerce, or if you’ve been tinkering with it but haven’t really made much or any money at all yet, this is perfect for you!
Keep an eye out for the announcement banner or join our newsletter by clicking here to get alerted when it’s go time!
Matt Gartner is the owner of 3 very successful e-commerce stores that focus heavily on dropshipping, automation, and profit ;)