The number of questions Scott gets week after week about whether or not a product idea is a good one are so numerous that it’s prompted him to record this episode. There are certain things that make for a great private label product opportunity and other things that make for a lot of trouble and very few sales. On this episode Scott highlights 3 of the main things you should look for that would serve as warning signs or red flags that the product you’re looking at is not a good idea to invest in. You can hear it all on this episode of the Amazing Seller Podcast.
Product Research Red Flag #1: Identical Products.
If you’re considering a particular product to sell on Amazon you’ve got to be aware of this one. It used to be an approach for sellers to simply grab the exact same product from a Chinese supplier that is already being sold on Amazon and put it up on Amazon. And believe it or not, they would get sales. But that approach doesn’t work anymore simply because it’s too easy for other sellers to sell the exact same thing and undercut you, steal your listing, and other problems. So if you look at a potential product on Amazon and see the identical product over and over and over, beware. Find more things to be careful of when choosing a private label product on this episode.
Product Research Red Flag #2: Pages and pages of the exact same product.
If you’ve got an idea for a private label product and find pages and pages of the exact same product on Amazon already, you should be very careful. It will be very difficult for you to get your product to make any headway on that product. Why? Because there are so many of the same thing. But there is still a possibility and it lies in whether or not you’ll be able to differentiate a product enough to make yours desireable in ways that the competition is not. You can hear Scott dive into the issue on this episode and ramp up your private label sales.
Product Research Red Flag #3: When you see the exact same product on the websites of suppliers.
The reason you don’t want to try to start selling a new private label product when the images and product description on the suppliers website is exactly what is already on Amazon is because that product is easily copied. Not only will you have tons of competition for sales on that product, you’ll also have a very high risk of your product listing being hijacked and you will lose control of the buy box and your overall ability to control your prospects for sales. You can find out exactly what all that means on this episode of The Amazing Seller podcast.
How can you sell a private label product successfully in a crowded market?
The answer is to make your product unique in some way that the buyers truly care about. How can you discover the ways you should differentiate your product? You’ve got to a little legwork by reading through the reviews about similar products that have been left on Amazon. You’ll discover things that actual buyers have complained about regarding the product which translates into improvements you can make to the product that will make yours more desireable. You can also look at related products that could be added to your product in a bundle so that your product is not only a greater value but also more unique. Scott has lots of ideas about this kind of thing and you can hear them on this episode.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:25] Scott’s introduction to this episode of the show.
- [1:57] How you can get transcripts and show notes.
- [2:16] Get in on the new Private Label Workshop.
- [3:21] Get into the TAS Facebook group.
- [4:17] Why Amazon is not too saturated for you to make it big.
- [7:30] Some promising results Scott has had recently on a new product experiment.
- [10:13] Red flag #1: Identical products.
- [11:53] Red flag #2: Pages of the identical product.
- [17:41] Red flag #3: The exact same product on supplier websites.
- [19:20] Considerations you should make about these situations.
- [31:35] Recap of these red flag issues.
TRANSCRIPT TAS 224
TAS 224 : 3 Red Flags for Bad Product Selection and How to Avoid Them!
[00:00:03] Scott: Well hey, hey what’s up everyone! Welcome back to another episode of The Amazing Seller Podcast. This is episode number 224 and today I’m going to be going over three red flags for bad product selection and I’m doing this a little different today. I am actually in the car. We’re going to call this A Car Cast and the reason why I’m recording it in the car is because…
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…I’m moving and my house is a little bit turned upside down because I’ve got my wife in there, I’ve got my daughter in there, my older daughter, my son, my other daughter is in school and there’s a lot of commotion.
I’m like, “You know what, I really need to record an episode here and I’ll just go out in the car with a hand held mic and we’ll see what happens.” It’s a beautiful day. It’s actually seventy seven degrees. A beautiful sunny day so I don’t mind being out here. This is a little bit different so let’s mix it up a little bit. I did want to cover this because I get a lot of people asking me or saying like, “You know Scott, I think I found a really good product but I think there’s just a lot of people selling the same product and I’m really not sure that I should sell this product and it just seems like it’s really saturated,” or, “The numbers look really, really good but there’s ten pages deep of everyone trying to sell the same garlic press.
That’s why I wanted me to go through my thought process on this and hopefully as you are going through this process you can start to think about some of these things that I’m going to highlight here and also those clear red flags that could be like you know what, definitely don’t just sell that type of product or that exact product. That’s what I want to do. Now before we do jump into today’s episode of The Car Cast, the TAS Car Cast, that’s got a nice ring to it, what I want to remind you guys is that we also have transcripts and we have show notes that you can find at theamazingseller.com/224 and that is the link that will bring you to the show notes page.
[00:02:11] Scott: There’s transcripts there you can download them, you can read them there. You can do it all right there from that page. The other thing that I want to remind you guys is, as I am recording this right now we are going to be not, or actually I shouldn’t say when I’m recording this, when this airs, let’s say that, my workshop that I normally do once a week or once every other week, right now I’m currently not doing them through this move. If you are listening to this on the air date which should be sometime in July, probably beginning of July. you are still going to probably want to register for an upcoming workshop because right now I’m pausing doing them because I’m so busy but I’m going to start doing them back up probably first or second week in July.
Just register at the page to be notified and that will be, and you will also see the date and stuff, theamazingseller.com/workshop and you can find out when the upcoming workshop is and that workshop really, if you guys are brand new probably don’t know what that is. It’s where I walk you through the five phases for launching your first product. If you want to have me show you how to do that and kind of what I’ve done and what other people have done, definitely check that out. We also do live Q&A and all that good stuff. The last thing I want to remind you guys is about out TAS Facebook group which is absolutely amazing. You guys know that and… If you don’t know then you have to get there and check it out but I think there’s just about 30,000 in that community now and there is some really, really bright people in there and really, really helpful people as well. Definitely go check that out at theamazingseller.com/fb. Alright, so let’s dive in, what do you say?
[00:04:00] Scott: The three red flags for bad products selection, these are… Again this is my opinion and like the things I look for when I’m looking through products. Whenever I hear someone say that, “I think that it’s either too saturated,” or, “Isn’t Amazon becoming too saturated because I see that there’s product selling but there’s a whole bunch of people selling that same exact widget, that same garlic press.” Let’s just start off by saying this. I believe that Amazon is not too saturated right now. Now, is it the same as it was two years ago? No, it’s not. Obviously, it’s like anything, the landscape changes, right? Is brick & mortar business the same as it was 5 years ago? No. Amazon has pretty much taken some of their business away. Same thing happened with Wal-Mart or Target. They came in and kind of squashed a lot of the mom and pop shops, so what do the mom and pop shops have to do? They have got to adjust, they have to pivot. How do they pivot? Probably they have to start selling some of their products online. That’s what I would do in that case.
We have to understand that yes the landscape changes but there’s always going to be buyers, there’s always going to be sellers and it’s up to us to adapt and to pivot. Just understand, I’m not sitting here saying that Amazon is the only place that you should sell. I think that right now it’s where all, not all but a lot of the buyers are so that’s where it’s going to be the easiest to get started and then from there we can start to talk about building out our product lines and our brand and our funnels. If you guys don’t know what a funnel is don’t worry about it right now just understand that it’s still a great place to test and verify products and validate them before you go all in and start building a brand and all that stuff.
I just want to be clear that I personally don’t think that Amazon, the time that am recording this right now, I do not believe that Amazon is too saturated to get started. Short little story. I recently just did a test launch with about 8 SKUs and these SKUs are all between $13.97 and $15.97 and you guys know my rule pretty much is I like to look at products that can sell between $19 and $45 somewhere in that range.
[00:06:04] Scott: I still haven’t found a product to sell at the upper end of that. I’m still kind of on the lookout for that but because I tell people and I share with people that it isn’t too saturated and you can go out there and still find a product that’s $20 and still make it work. I want to too actually try something a little bit different and that’s why I tried this with a product that sells for $13.97 to $15.97. I’m not saying go out there and do that because it isn’t as easy as… I shouldn’t even say the word easy. It’s not as good as going out there and selling something that’s $20 and above but I was able to find some SKUs that the profit margin was still there.
I’m landing these products. I’m landing them in Amazon, for just over $3 and then after Amazon FBA fees and all of that, I’m generally making $5.50 to $6 per unit and the reason why I wanted to test this, a couple different reasons, is because I wanted to validate to myself that it still can be done and that the second reason was because I seen that there was a lot of people selling similar items. They weren’t identical and I also seen that they were selling but the listings were really weak and I thought that I could do a better job. As I’m recording this right now we are right around Father’s Day and because we are right around Father’s Day, there’s a lot of people buying these types of items for gifts so because of that we have had some really good days.
I’ll just give you one of the days recently was yesterday and we had 110 units sold and all these products sell for $13.97 or less. Actually there’s one that sells for $10.97. That one only cost us $1.50 to land and then let’s see… That was yesterday, the day before that I think we had 95 unit day and the day before that I think we had a 68 unit day because as you are getting closer to Father’s day they start to ramp things up.
[00:08:02] Scott: Again these sales are going to drop after Father’s Day but I still think that we are going to level out. When I launched these products I said if we can just sell 5 a day and it’s easy to do with not hardly any pay-per-click and you are making 6 bucks a unit, like who wouldn’t do that if you can launch 8, 10, 12 different SKUs? To me personally, that’s what I’m playing around with, I’m excited about it. It’s fun and it’s really easy because I don’t have to put a ton out there. I actually talked a little bit about this in one of my past podcasts about the launch process that I use for this which was really, really basic. Which was just order 100-150 units, do a really small 20-25 a promo give away and then turn on the pay-per-click on the auto and suggested. Then let that run for a little while and see what happens and that’s exactly what I followed and here we are.
I’ve got to be honest. Yesterday with the 110 sales that we had, we only spent $30 on the entire campaign, over all of the campaigns. 30 bucks for 110 sales! Now, again that’s not going to happen every single day. We are into the pay streak for the gold rush lovers out there but… I was just looking down on my mic because I didn’t realize if it was recording or not. Sorry if I went away from the mic a little bit. I’m holding this little hand held and I used this before. Usually does it pretty well. We’ll see how this goes. It’s weird being in the car doing this, kind of feels good though, got to be honest but… I’ll get back on track here.
Like I said, I’m telling you this story because a lot of people out there, they make excuses, it’s too saturated and there still is opportunity out there and again I just proved it again and I did that to validate it to myself that yes, what I’m talking about can definitely be done if you just go out there and you look at the numbers and you look at the research and that’s what I’m going to be talk about today.
[00:10:03] Scott: This way here, we can avoid any red flags and we can be a little bit more aware of what we are looking at as far as the data goes so let’s dig into those, what do you say?
Number one, one main red flag is if you go to page one and it has all of those products are pretty much identical. I said that very, very clear tonight. Identical. I mean like all of them are the same. They are the same image, they are pretty much identical, there’s nothing really different, maybe some different pictures of how they are being displayed but really they are the exact same garlic press. That’s red flag number one. Red flag meaning that if someone is looking for this particular product and if everyone is selling the exact same thing, it’s going to be hard to compete.
Now if they are just looking for a garlic press, not a particular type of one, an exact one, if they are just looking for a garlic press and I can just come up with a garlic press that is better. That is maybe a nicer design, maybe it has better images then I’m going to stand out. If I have a better selling preposition meaning why mine is better and the way that you would do that is by looking at reviews and stuff and seeing how you can improve the product. That would be number one red flag. It’s like if everyone is selling it, that’s ok but now if I’m going to go out there and try to sell the exact same thing, how am I going to be different?
How am I going to look different? Well, we can bundle it true but I would want to look at that and say, “You know what? There’s too many people trying to sell the exact same thing by just slapping their logo on it and that’s what people are looking for and people are buying that and they are not going to really care what I come out with,” then I would probably go away from that. I wouldn’t go any further in that product. That’s red flag number one.
[00:11:54] Scott: Red flag number two is if I then go to page 2 and page 3 and page 4 and page 5 and I just keep going and there’s so many pages of the exact same product, I mean the same product within reason. It’s just the same thing, just maybe a slightly different version or maybe slightly different pictures, if I see that, that doesn’t mean that I’m saying that people on page 15 are selling because those people priority gave up a long time ago but what it does show is that there are so many people trying to take that same exact product and just sell the exact same product. That to me is a red flag because the only way that I’m going to stand out and I’m going to rise above the crowd is if I’m different and if the product doesn’t lend itself to being different then I can’t do that.
Then I would be just like, “Okay, I’m out of there. I’m out.” You have to think about this stuff and there are some different things. I will give you guys some ideas here in a minute but you just have to be aware of that because some people, they’ll look at the front page numbers and they are like, “Ok, this is cool, everyone is selling the garlic press,” and listing 1 through 10, if I tally up all those sales per day and we are getting to the 3,000 point per month and if we are going like 3,000 like we talked about with Greg Mercer on episode 56 and episode 161 and if we see that we are all excited but if everyone is competing on the exact same item or the product, that’s going to be a red flag for me. Unless, big unless here, unless I can make the product better or I can make it stand out.
There’s a few different ways that we can do that. We can have better packaging, we can have that really seem like just a more professional item. Perceive value is huge when you come to packaging. It could be a different design all together, it could be a different color but if the color doesn’t jive with the people then we have a problem there so just because we want to be different we want to make a red one instead of a black one. We don’t know that the customers are going to want red because they might not go with their kitchen.
[00:14:00] Scott: We have to be aware of that. You have to think about how you are going to make it different and one of the biggest ways is to just listen to what people are saying about it and the reviews are a great place to see that and then from there being able to make yours answer that problem or solve that problem. Not just the problem of pressing garlic but the people on they’re saying that, “I wish that it came…” Actually I'll give you an example. I was looking at… I’m actually going to be buying one of these.
It’s like a glass magnetic white board for my office, for my new office, really excited about that because I want to be able to like draw funnel maps and I want to be able to write down certain goals that I might have for that week and it just looks kind of cool too and they sell for about $150 to $350 depending on how big it is. I was looking at the reviews because obviously I’m going to buy this thing eventually and I was looking at what people were complaining about. What most people were complaining about were two things. One, that the magnets that came with it, they did good. They worked but the ones that you’d buy in the store didn’t work so good so you had to have a special magnet. They didn’t like that.
If that was the case, we either got to make our board accept the generic magnets so we should do some tests with that and figure out how we can make that happen or we need to give them more of the other magnets so this way here they have enough to satisfy them or we have to offer the magnets separately or maybe as a bundle that they can add to it since we are answers that problem.
That was one problem that I’d seen that was coming over time and time and time again. Second one was, I wish it came with a template so when you hung it we knew exactly where to drill the holes. It doesn’t come with a template. You just have to get to measure things and if you are not that handy, well that’s going to be tough. Wouldn’t it be nice to take a piece of paper that would unfold into the exact size of your board and then you can tape it on the wall, use a level and then you could just drill a pile of holes and then you could put your little tap cons in there or your little grommets for your sheetrock or whatever and then you could fasten it and then it would line up perfectly.
[00:16:09] Scott: You just solved that problem, you could put in your description, ‘easy to hang with easy instructions in template’. Now everyone else that’s reading about the other one they’re going to read yours and be like, “This comes with it, that’s awesome!” You just called out the problem or, “Comes with 12 magnets plus a bonus pack of 12.” Something like that or maybe works with standard magnets that you buy in Staples, Target, all of these name brands. That’s a different way.
Again, this just came out of the fly here as I’m sitting here in my car in the sun talking to you guys. It just came because I’m actually into that research right now and I was looking at the reviews. Do reviews work? They clearly do because I was looking at that stuff. Honestly, for me, you know what I was saying to myself through this process? I don’t really care about the magnets, I’m not buying it for that so I don’t really care, that doesn’t… See how reviews don’t… That review doesn’t necessarily affect my decision, I’m buying that.
Some people, a lot of people, they’re buying it for that purpose so that’s going to be very important to them. You can learn so much by listening to the reviews and you can make your product stand out amongst those pages, those sea of pages of people selling the exact same thing, that are just trying to do the quick and easy. I went off on a little bit of a tangent there but I think it was worth it.
Again, number two is if you see multiple pages of the same product you’re not necessarily going to run but you’re going to want to look into that further because you don’t want to just launch the same exact product.
Now number three of the red flags is if you go to Alibaba or AliExpress or any place that you’re going to be trying to find the supplier and you see the exact product that people are selling on page one, two, three, four, five and so on and you can see that they’re just using that exact same product, that’s a problem.
[00:18:03] Scott: What does that mean? It’s that much easier for someone else to knock your product off. You have to find a way, again, to be unique. The other thing that I find which I think is crazy is either the manufacturer goes over to our listing and they’ll make a copy of our image and then they’ll use it on their page. I just did this. I was researching this other product that I’m going to be working on with another brand, with a partner and we’re looking and we instantly seen that Alibaba was using the exact same picture that they were using on Amazon. That clearly told me that if someone else wants to rip me off all they got to do is go on Alibaba, look at the supplier and… Can you hear that snap? Then rip me off.
Then we started looking at another product that wasn’t easily found on Alibaba. Actually you couldn’t even find it and I said, “That’s the one we probably should go for but we can contact that place that makes that generic one and see if they will then make our product, the one that we want, that’s not being displayed on Alibaba.” That’s another way that you can piggyback off of some other company that’s selling a certain type of product.
If you go to Alibaba and you see that same exact picture that’s on but then don’t get excited, don’t think that’s awesome, actually that’s a red flag. That’s a red flag because that same image is being used on the listing on Amazon and on Alibaba and a lot of people will fall into that trap so don’t fall into that trap, that’s a big one.
Some things to consider here when you’re going through this research. Guys, I feel like I’ve gone through research stuff before but I think it can never be said enough to go through and revisit some of these things because whether you’ve launched a product and it’s successfully running right now, when you get to launch that next product you’re still going to have these types of questions and these types of things that you’re going to need to look at. You just want to take the time to do that.
[00:20:03] Scott: The things that I look at too is, is the product selling well? Of course we want to know that so we ask ourselves that question, “Is the product selling well that we’re looking at on page one?” The next thing is, is the product being driven, the sales being driven by a certain style? What I mean by that is, is there a certain pattern that people are buying? Is there a certain color that people are buying? Is there a certain shape that people are buying?
If you don’t look at that and say, “Well, I’m going to make mine different,” they may be buying it because of the style. Maybe moms like a certain style and your product is going after moms, if you have a really ugly style pattern or whatever they’re not going to probably buy it. Then you’re going to wonder, “Why isn't my thing selling? I did everything right. I see that they’re selling this thing but it’s just not selling, why?” That’s probably a reason, because it’s style driven so just be aware of that.
The other thing is, is the product brand driven? Are people looking for…? I think the garlic press is one of them too, it’s OXO, O-X-O, that’s a big brand and they sell all kinds of kitchen goods and other things too. Maybe people are searching for that particular brand, I don’t know if they are but let’s just say that someone’s typing in OXO garlic press. Well, they’re going to look for that one and it doesn’t matter if you have a private label or not, they could buy yours but if their mother had one 30 years ago of the OXO garlic press and she’s been happy with it and the thing’s lasted for 30 years, you better believe it that they’re going to try to find that same brand and buy that brand.
That’s what I mean by brand driven. Sometimes you don’t know if it’s brand driven because Amazon just has the sales. We don’t know if external sales have been coming in but there’s a couple of different things that you could do really easily.
[00:22:00] Scott: Number one, if you just do some good old Google searching and just type in like let’s just say like garlic press and you see that the top results are like ‘buy that brand’, it’s a pretty good chance they’re getting some sales from those search results so that’s number one. Number two is you can do this cool little trick and you can take the Amazon listing, click on the picture, click on the picture and then, sometimes if you click on it again it’ll enlarge it one more time. Then what you want to do is you want to control-click, control… You know you want to hit the control key and then click it with your mouse and then you’re going to see and this only works in Chrome I believe.
Then from there you’re going to see… Let me see, I wrote it down here because I wanted to make sure that I had it for you guys. You’re going to see where it says, let’s see here… I had it here and now I don’t have it. Let’s see, right click and it’s going to say, basically, I’m stalling here, I’m stalling. Here it is, control-click. Search Google image. If you’re in Chrome go to Amazon, type in your product, find or type in your keyword, find the top sellers that you’re looking at, the ones that have the most sales, click on their listing and then from there click on the image, their main image and then from there click on it one more time, that should enlarge it to its biggest form.
Then what you’re going to do is you’re going to control-click and then you’re going to see some options there and you’re going to find ‘search Google images’. What this does is any one that has used that image in a blog post or in an article or on a website, you’re going to see that it’s been used there. A lot of times, let’s say that it’s been published in The Huffington Post which is a huge, huge publication, if you do that Google search and you find that image in a post that was done by Huffington Post, you can probably bet that they’re going to be getting some sales inside of that because Huffington Post all they’re going to do is go find an image of that because they’re talking about it and they’re going to grab the first one that comes in.
[00:24:04] Scott: If it’s the one that they used in their Amazon listing, well guess what, you’re going to be able to trace that back to that post so there’s a little hack for you. Again, I’m going to go through that one more time. Again, this will be in the show notes, you guys can check it out, the transcripts, all of that stuff but you got to use Chrome. I’m sure if it works in Safari, I’m not sure if it works in Firefox but go to Chrome. Then you’re going to want to go to your Amazon.com, go ahead and search for your garlic press, whatever that may be, find the top sellers that you know that are getting your sales that you want to look at. Then from there click on the listing and then click on the image, the main image and then click on it one more time to enlarge it to its biggest form.
If it’s not enlarged all the way click on it until it’s enlarged to the max. Then from there, control-click, at least that is what it is on a Mac, it might be option click on a PC, I’m not sure but it’s control-click. Then you’re going to look for the option that says ‘search Google images’ and then you’re going to see where that image is being used all over the internet. That’s what you want to do there.
The other thing that you want to understand that when you’re doing this stuff, it doesn’t mean that if you find that one product that’s being driven by outside sales, that doesn’t mean that you still can’t do this. What it means is now you have to look at the other players that are private labeling. The other listings, you got to look at those and see if they’re getting enough sales. Let’s just say for example the top listing is getting 3,000 sales a month all by themselves but then number two gets 800 and number three gets 600 and number four gets 500 and so on and down till we get to the 10th one and maybe the 10th one’s getting 300.
Well, if you’re looking at those numbers and you feel that you can create a product that’s going to be able to slide in somewhere there that people would be wanting to purchase then to me that’s okay. Then that red flag goes away, I don’t care that the outside traffic is coming from an outside blog post, as long as they’re not being dominated by that certain brand.
[00:26:06] Scott: Sometimes you’ll find it that they’re taking up four or five or even six spots, that’s a red flag, that’s a bonus red flag. That’s the fourth red flag, I didn’t even put it in here. That’s the fourth red flag. If you see that they’re taking up four or five spots, then I’d be a little more leery that if I can go out there and make it work just because it’s going to be hard to take up any more of those spots unless I can see that the spots that are open I could compete with.
Just going over my notes here, just to make sure that I don’t miss anything. Bottom line is this though, when you get to this point, if you feel like there’s still opportunity there for you because there’re so many sellers but yet they’re selling the exact same thing, that can be an opportunity for you. If you can make the product better, make the product stand out whether that’s with packaging or whether it’s with better images… Recently we just did a hot seat with Carl and you guys may have listened to that episode but his images needed to be improved because his images stood out as not being really, really that attractive and his competitors were really good.
The other thing that we identified with Carl’s story was his was a style driven type thing. Now, I’m not saying his style couldn’t sell but you’re like guessing when you’re creating your own style, your own pattern, let’s say. You got to be careful doing that. Just another thing to be aware of but images can definitely help to make your product stand out. The bottom line is you need to stand out if you’re going up against people with the exact same product.
You need to also ask yourself, “Is this for a market? Is this product for a market or is it just a widget?” What do I mean by that? If you’re just selling something that serves the purpose to one person for one need and there’s nothing else that could be sold in a product line, I would stay away from that, that’s just me.
[00:28:02] Scott: I want to be able to… You guys have heard me say it time and time again. If you guys are brand new, you’ll hear me say it for the first time but you’re going to hear me say it a lot, it’s where you want to be able to find products that can be served to a market because the market will need products. You just need to find out their needs and wants are and then serve them products.
Amazon allows us to do this by looking at ‘frequently purchased together’, ‘frequently bought together’ and all of that fun stuff so all of the data is there. A couple other tips I want to give you guys and I mentioned these before but I’m going to mention them again. If you didn’t listen to episode 189, that’s theamazingseller.com/189, that was the product validation podcast that I did where you look at the surface, you look at the numbers in Jungle Scout and you look at them you’re like, “This looks really good, wow! Look at that, there’s a seller that’s selling 400 units a month and they only have 10 reviews. Wow, that’s awesome!”
A lot of times you’ll go back and you’ll see, by doing some of this digging, you’ll see that they just launched and they just did a promotion with 250 units or 300 units and then that skewed the numbers. What I do and again I talk about it in 189 and I share exactly how to do it but I’ll do it really quickly here for you. What you would do is you would take that listing and you would jump over to camelcamelcamel.com. Someone just told me too that there’s an extension for Chrome for CamelCamelCamel. I haven't used it yet but I think if you search for CamelCamelCamel in the Chrome extensions you’ll find it and he said it’s right there embedded inside of it so it’s pretty cool so definitely check that out.
Go to camelcamelcamel.com then enter in that listing, that URL, that web address and then you’re going to see how long they’ve been selling, you’re going to see the sales… What am I trying to say here? The pricing, you’re going to be able to see how they’ve adjusted their price over time, you’re going to see how long they’ve been selling for, you’re going to see the BSR, how it’s went up and down, you can usually tell if it goes really out of whack and then it comes back it’s usually because they ran out of stock and then they got back in stock.
[00:30:06] Scott: That’s camelcamelcamel.com to validate that the volume or the demand that you’re looking at is legit. Google Trends, you also want to look at that because we want to see if something is seasonal and if it’s seasonal that’s okay, like right now we jumped on a product that’s right now is selling well for Father’s Day but I think it’ll sell good for Mother’s Day, I think it’ll sell good birthdays, I think it’ll sell good for other occasions, appreciation stuff but with that all being said, it is seasonal in a sense. If you’re going to go down that road and you want to find other products that can be served to that can be served to that same market at different seasons, if that makes sense. That’s Google Trends.
Again, like I said, definitely check out episode 189, that’s the product validation one that I did and I actually walk you through with a video in that one too so definitely check out that, that will be in the show notes as well. Then episode 161 I did with Greg Mercer all about product research and demand and all that stuff and volume and then episode 56 again that was with Greg Mercer as well. All of that stuff is really, really still relevant and it’s useful so definitely check that out.
Like I said, all of the resources, the transcripts, the show notes, everything will be on this episode, on the show notes to this episode which is theamazingseller.com/224. That’s theamazingseller.com/224 then everything will be there.
I’m going to recap real quick the three red flags for bad product selection. That is, one, if you find that on page one every single item just about is the exact same product with the exact same or similar image that’s when you’re going to want to really make sure that you do all of your homework here. Then number two is if you see multiple pages of the same products, so the same as page one results but then if you go deep and you see wow, there’s like 300 or 400 sellers selling the exact same thing, well okay it’s good.
[00:32:11] Scott: We know that there’s volume and there’s depth maybe because the numbers support it but it’s going to be really hard to grab that because I’m just the same product.
Number three, if you look at Alibaba or AliExpress and you see that they have the same product, the exact same product and the same image there and someone else can just go ahead and just inquire about it and then start to get them shipped, that’s a red flag. Again, that’s the three, I gave you a fourth. The fourth was if you see that also something is brand driven or something is getting a lot of outside traffic by doing that little hack with the image then that would be another sign to maybe bail on that product.
Those are the three plus the bonus red flags that I gave you. Hopefully this is going to help you. I know when I go through this stuff it actually helps me that’s why I like to go through it because it does make it seem like you can foul this process. Nothing might be 100% clear. You’re not going to have something that just says, “Yep, everything’s pointing to go.” You’re going to have some grey areas and that’s where you have to trust your gut but you can do all of the background check and the research and all of that stuff that we’ve went through before that can minimize the product not doing well.
Again, hopefully this has been helpful. Again, the episode here to get all of the show notes and the resources and the links and all that stuff is over at theamazingseller.com/224. This has been fun, this has been really cool, time flies when you’re having fun. I got to get going here actually, my wife and I going to be heading out now to go and sign the papers for our new house. That’s exciting but I got to run.
[00:34:01] Scott: Hopefully when you listen to this you are able to take this stuff and use it and hopefully by then I’ll be sitting in my new office recording the future podcast episodes so that ought to be fun.
Just to remind you guys too that if you wanted to register for an upcoming workshop, as the time that this is recording not sure if there’ll be one right now in the next week or two, but go check it out if you want to attend one. That is at theamazingseller.com/workshop, so that’s theamazingseller.com/workshop. Once again guys I want to thank you guys for all of the emails, all of the support especially everyone reaching out and just saying, “Hey, good luck with the movement”, “So glad you’re living the dream man, you’re going out there and you’re moving to where you want to live because you can”. That’s what I’ve always said, it’s a lifestyle thing for me, it’s not necessarily all about the money, it’s what the money can provide for me and my family and hopefully for you and your family and that’s what I’m after.
If you are too just let me say that, take it from a guy that is nothing special, trust me. Going all the way back to when I was a construction worker, to where I was a photographer with my wife and we ran our own business to selling stuff on eBay, selling stuff on Amazon, all of that stuff and now being able to help and teach other people what I’ve done through the years. If I can do it, anyone can, trust me.
Alright guys, that’s it, that’s going to wrap it up. Remember, I’m here for you, I believe in you and I’m rooting for you but you have to, you have to… Come on say it with me, say it loud, say it proud, let my neighbor hear you, come on, “Take action!”. Have an awesome, amazing day and I’ll see you right back here on the next episode. Actually, meaning not right here because this is in the car, maybe it’ll be behind the new desk. Anyway, I’ll see you later, alright, bye.
LINKS MENTIONED IN THIS EPISODE
- www.TheAmazingSeller.com/56 and www.TheAmazingSeller.com/161
- www.TheAmazingSeller.com/222 – the episode with Carl.
- www.TheAmazingSeller.com/189 – the product validation episode
- Google Trends
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