How To Find a Product to Sell: 16 Proven Methods (2024)

1. Clear up a ache level

Many beneficial merchandise in the marketplace purpose to unravel an issue (or customer pain point). In assessing buyer demand for a product, take note of challenges folks have with the merchandise round them. Social media and buyer evaluate websites are nice locations to mine for concepts.

Fixing a ache level isn’t at all times inventing a brand new product altogether. Typically, you’ll be capable of determine a spot in your rivals’ strategy to that product’s design, or a sample of poor customer support in a selected business. 

How are you going to iterate on an present thought to unravel a standard frustration? Gloria Hwang did simply that when she constructed her model, Thousand. She discovered many cyclists who didn’t put on helmets cited fashion as certainly one of their causes. “If you can also make a helmet folks really need to put on, you possibly can assist save lives,” Gloria says. Her model targeted on fashion—and security—to reinvent an on a regular basis product.

2. Spot developments earlier than they emerge

Listed here are just a few methods to keep watch over merchandise with pattern potential so you possibly can act on the chance:

• Social media: This may be as fundamental as scanning trending hashtags and following influencers in a selected style. Most platforms have a trending tab or part. You may also use social listening instruments to determine and monitor developments over time.
• Google Developments: Right here, you possibly can see the recognition of developments over time. As with style, developments are inclined to cycle again round, and Google Trends could possibly aid you predict the subsequent wave.
• Commerce publications: Publications inside your discipline might have insights or pattern predictions based mostly on analysis and historic developments.
• Present occasions and popular culture: Worthwhile product alternatives could also be discovered by following the media about what’s occurring on this planet. Developments usually emerge from widespread TV exhibits or world occasions.
• Technological advances: New expertise can spark buyer demand for merchandise that use it. Think about the surge of “sensible” home equipment and units that come to market after each advance in AI and machine studying.

Miguel Leal recognized a pattern in a single business and repackaged it for an additional. His model Somos discovered that grocery store Mexican meals merchandise weren’t advancing alongside his favourite Mexican eating places. Miguel took developments from widespread eating places and introduced them to the grocery aisles.

3. Attraction to area of interest pursuits

When individuals are passionate a few explicit pastime or curiosity, they’re often extra inclined to speculate cash to get the precise product they need. For this reason understanding your target market is necessary. That is a better process in case you’re promoting to a bunch you belong to. Do you play pickleball or attend a weekly knitting circle? Chat with fellow fans to be taught their preferences and ache factors.

Narrowing in on a distinct segment might imply a smaller market, however it could possibly be a loyal one in case you nail the product-market match. This strategy will be much more profitable in case you discover a area of interest underserved by the present merchandise in the marketplace.

Solé Bicycles doesn’t simply promote to cyclists. The model designs merchandise for individuals who view their rides as a “cellular canvas” to signify their character and elegance. That’s why a big selection of daring colour choices are important to Solé’s providing and aspirational way of life imagery is central to its advertising. 

4. Handle an underserved market

Underserved markets aren’t restricted to hobbyists with area of interest pursuits. They will additionally embody complete demographics of individuals ignored by the present manufacturers in the marketplace. For instance, LGBTQ+ folks might uncover the marriage business doesn’t at all times cater to their wants, extra usually providing merchandise designed for hetero unions. Uncovering gaps like these may help you discover a product clients need.

Yelitsa Jean-Charles recognized a gap in the toy market for dolls for Black children that celebrated curly hair. She designed Well being Roots Dolls to create a product that she would have needed as a child—one which taught ladies to like and elegance their very own hair. “Once you’re ignored by the mainstream media, it’s a must to change into an issue solver,” says Yelitsa.

5. Comply with a private ardour

Choosing a niche based mostly by yourself pursuits is among the commonest entries into entrepreneurship. Many companies have sprung from hobbies together with makers who scale their craft to sell handmade goods on-line. 

Founder-market match issues, since you’ll be higher geared up to remain motivated and overcome hurdles of constructing a enterprise in case you’re deeply invested in what you’re promoting. And, you’re extra prone to perceive your goal market whenever you already embody your very best buyer persona.

Sarah Chisholm’s profession as a dancer ended abruptly. That’s when she turned to a ardour to create a brand new path for herself. She spun her love of meals into Wild Rye Baking Magic, a model that sells premium cake, frosting, and pancake mixes. Counting on present data and contacts, Sarah constructed her enterprise with assist. “No person goes to know your area people higher than you,” she says.

6. Think about your skilled expertise

Previous expertise can go an extended solution to serving to you achieve a future enterprise. Did you permit a profession as a coach? Strive discovering a product with an beginner athlete viewers. Have expertise in educating? Create a collection of programs to promote on-line as digital merchandise. Your expertise means you’ll perceive your viewers, have contacts within the business, and might simply acquire belief as a consequence of your experience.

RetroSupply is a model that sells vintage-inspired fonts and different design property for graphic designers and illustrators. Founder Dustin Lee pivoted from working a contract net design store to producing extra passive income via RetroSupply’s choice of digital merchandise.

7. Discover product alternatives in key phrases

Gaining natural site visitors from serps is an effective way to develop a enterprise. However with loads of competitors and Google’s ever-changing algorithm, SEO will be daunting for brand new enterprise homeowners.

Nonetheless, you need to use keyword research to seek out alternatives the place the search quantity is excessive (which means the product is one thing folks need) and competitors is low (which means it is going to be simpler to rank for the time period). There are a number of keyword research tools and browser extensions you possibly can attempt—some are even free. 

Keep in mind that Google isn’t the one place the place folks begin their search. More and more, social media platforms are the locations the place customers—particularly youthful Gen Alpha and Gen Z buyers—flip to for product discovery. Pinterest, Instagram, and TikTok search knowledge will be nice sources for product concepts for these demographics.

8. Leverage social media

Whilst you’ve discovered that social media could be a excellent spot to identify developments and conduct key phrase analysis, it’s additionally an awesome platform for testing your concepts, studying about viewers habits, and getting impressed.

Mush Studios co-founder Jacob Winter stumbled upon his enterprise thought when his rug-making TikTok movies went viral. The curiosity in his creations advised him there was a marketplace for his pastime. Since he had already constructed an viewers as a creator, he understood how you can communicate to—and promote to—them.

9. Browse on-line marketplaces

Whereas it’s doable to promote on Amazon, Etsy, and eBay alongside your standalone Shopify retailer, you may also use these marketplaces strictly for analysis. Inside every, you’ll discover lists designed for buyers that may uncover insights for product alternatives. Listed here are just a few hyperlinks to get you began:

To dig a bit deeper, think about using a device like Jungle Scout which helps you determine alternatives by analyzing knowledge that features top-selling merchandise and widespread sellers.

10. Enhance an present product

Customer reviews could be a goldmine for locating a product to promote. That’s as a result of opinions uncover buyer ache factors with present merchandise. When you’ve narrowed right down to a product, class, or business, browse opinions on present high promoting merchandise to see the place they’re missing.

This additionally goes for present companies. When you’re seeking to discover the subsequent product to promote below your model, your personal product’s opinions will uncover buyer needs. Use these as a information to developing your next product.

With dozens of generic olive oil choices on grocery cabinets, it’s onerous for the typical client to know what they’re shopping for. Brightland’s Aishwarya Iyer determined she may enhance upon a standard pantry staple with nice branding, buyer training, and thoroughly chosen manufacturing companions. “There’s received to be one thing right here the place we are able to construct a model that folks really feel actually excited by and folks need to put it out on their countertop,” Aishwarya says.

11. Analysis merchandise with greater revenue margins

Merchandise with greater margins—that’s, these with low bills and excessive potential for revenue—are an awesome place to begin, as a result of the danger is way decrease. When pricing your products, it’s worthwhile to account for the cost of goods sold (COGS) to find out your retail worth and revenue margin. COGS contains any value to create, promote, retailer, and ship a product.

Search for low-cost gadgets that may generate a excessive return on funding (ROI). Some products with high profit margins embody kids’s gadgets, specialty merchandise, candles, and personal label merchandise.

12. Meet the demand for sustainability

Consumer trends more and more level to a requirement for manufacturers that do good. This contains every part from sustainable business practices to eco-friendly products. Youthful customers are particularly drawn to manufacturers with values that match their very own. Meet buyer demand by promoting a sustainable product. 

A number of approaches to discovering a product to promote on this class embody researching different sustainable businesses to seek out widespread merchandise and designing a sustainable model of an present product.

Tsuno founder Roz Campbell noticed a chance to enhance on an on a regular basis private care merchandise. She not solely designed sustainable interval merchandise but in addition created a one-for-one program that donated merchandise to ladies in want. She invests proceeds in associate organizations that ship ladies to highschool.

13. Attend commerce exhibits and festivals

Understanding the present panorama and your potential rivals is a vital step within the product analysis course of. If you have already got an business or product class in thoughts, hunt down trade shows, markets, and different occasions to conduct aggressive evaluation and uncover good product concepts. Take note of which cubicles are producing essentially the most buzz. 

14. Think about personalization

One solution to stand out from competitors is to supply distinctive, custom-made, and one-of-a-kind merchandise. A print-on-demand mannequin lets you execute this idea for merch like t-shirts and mugs with out having to make merchandise or carry stock your self.

Pluto Pillow jumped on the sleep hygiene pattern to reinvent a product in everybody’s residence. Their pillows are customized to every individual’s specs together with sleep place and preferences. 

Be aware: Personalization can lengthen past the product itself. When you’re promoting an present product in a aggressive market, stand out by providing a personalized shopping experience round your model.

15. Analyze worldwide markets

Worldwide markets stands out as the key to the subsequent large factor in your area. Developments in different international locations might catch on past their borders. Think about the growth of Korean magnificence in North America within the early 2010s. Take a look at areas that sometimes affect the tradition the place you reside: Can you notice a pattern earlier than it catches on?

You’ll be able to create your personal merchandise within the spirit of these popularized in different areas, or you possibly can decide to change into an area distributor or reseller for an present model. That’s what Gillian Gallant did when she found Paper Shoot Camera on TikTok and knew it could be a success in North America.

16. Get impressed by social change

Along with sustainable merchandise, firms can display their values in different methods. Social impact brands can construct loyalty with clients who share these values. When you’re promoting a standard merchandise, tying it to a trigger could be a nice differentiator between your model and your competitors.

Hippy Feet is a model promoting socks and different equipment, with 50% of earnings supporting non-profit companions. Clients purchase the model’s socks not just for the artistic patterns and vast number of choices—additionally they achieve this as a result of it feels good.

Validating your product thought

Product validation actually occurs whenever you make a sale and make sure your hunch. Nonetheless, there may be loads you are able to do forward of selecting a product to find out if it can promote. 

• Conduct product analysis. Consider the market and your rivals.
• Do market research. Strive focus teams, surveys, and even social media callouts to get suggestions from potential clients.
• Run the numbers. Does the product have potential to revenue? Perceive your prices and decide the ideal retail price to seek out your margin.
• Strive a crowdfunding marketing campaign. Securing some degree of curiosity and funding from potential clients earlier than you launch your ecommerce enterprise is undeniably beneficial.
• Run a pre-sale. Just like the above, you possibly can gauge real curiosity from clients by promoting the product earlier than you manufacture.

“I’ve at all times been taught to take sensible dangers,” says Nancy Twine, founding father of Briogeo. “So I knew that if I used to be going to depart my profession in finance to begin my very own firm, I needed to really feel actually good about what I used to be going to embark on.” For her, that meant investing in market analysis and constructing the corporate slowly whereas she was nonetheless employed.

Greatest product analysis instruments

Preserving your finger on the heartbeat of product developments and preferences are important for achievement. Product analysis instruments can provide beneficial insights into market calls for, historic common worth, and rising alternatives.

Listed here are the 4 finest instruments:

1. Exploding topics: This device makes use of AI to scan the web for trending merchandise and subjects. Its product database and professional options aid you keep forward of product developments, which is ideal for creating new merchandise and outpacing rivals.
2. Helium10: Helium10 presents a collection of instruments designed for Amazon and Walmart sellers. Its Chrome extension and database may help you discover the subsequent worthwhile product to promote on these platforms.
3. TikTok Creative Center: TikTok additionally supplies free entry to high merchandise lists and insights on advert efficiency for widespread gadgets 12 months spherical. It is useful for understanding product developments amongst youthful crowds and creating a TikTok advertising technique. 
4. Jungle Scout: A preferred device for Amazon sellers, Jungle Scout presents gross sales forecasting, producer verification, and seasonal pattern monitoring. It additionally helps with post-research duties like buyer evaluate requests and itemizing optimization.