Got an amazing product in mind and excited to place your very first order ASAP? Well, not so fast. Not because you THINK your product idea is great means it really is. So how do you ensure that your product idea is something you should pursue?
ANSWER: Through meticulous product research and proper product launch.
To help you get a good start with your new product, below are a few of the best tips and strategies for a successful product launch.
Product Opportunity Research and Assessment
As a rule of thumb – a good product launch starts with a good product. Much like building a house where a strong and reliable foundation is a must. And when we say good products, it’s not only about its quality but its viability as well.
First things first.
Find a product that has a good EXISTING demand and identify your unique selling point (USP).
- List at least 5 potential products on your niche. The more products you can find, the better. This is because as you go along the process of research and assessment, you may find yourself being left with a few choices until you find the best one.
- We suggest going for products with medium to high demand. To give you a concrete idea, find products that sell about 1000 or more sets per month.
- During product selection, another thing we would recommend is to choose products that have ratings for 3 to 4.5 stars. Why? It’s actually pretty simple. Products within these star rating range implies that there is room for improvement and that the current offerings are not being able to completely satisfy the buyer’s needs for them. Therefore, it would be a bit easier to identify your USP.
- We don’t really suggest that you go for products with a higher star rating. The reason is exactly the opposite of the first one. If buyers are already happy with the existing offers, it would be hard to enter and most importantly, beat the competition as well as identify your USP.
Once you are able to choose a viable product, you may start contacting potential suppliers. Discuss with them what you want the product to be and why. This will help them get a better understanding of why you wanted your product to be different from the existing offerings, if it is, and then provide you with possible solutions or modifications to the product.
We strongly suggest you reach out to a handful of suppliers and pick out the best 3 or 5 to whom you will request a product sample. This way, you will be able to choose the BEST AMONG THE REST.
After you are able to identify the product you want to launch, the next step is to conduct keyword research. Keep in mind that Amazon is a giant search engine just like Google. Not fully understanding this aspect can be damaging to your product launch.
Essentially, you need to know what keywords or search terms are being used by Amazon customers to search for your product. After this, the next step would be to identify ways on how you can put your product listing on the first page of the search results for those keywords and ultimately, be able to convert impressions to sales.
Images on your Amazon listing can make or break a sale. So it’s very important that you spend some time on creating high-quality and high-definition images for your Amazon listing.
Though some people will go over your ad copy like your product description or bullet points, the majority of buyers are too busy (and lazy) to read through those lengthy sentences. This is why it’s very important that you are able to deliver what you want them to know through your product images and infographics. You need to especially pay attention to your main image as it is the very first thing that the customer will see before they even visit your listing. The buyer will decide whether your product is worth taking a closer-look mainly based on your main image.
Aside from your product images and infographics, you also need to ensure that your entire listing is fully-optimized. From your product description to your bullet points, up to your backend search terms.
Don’t simply describe your product. CONVINCE visitors that yours is what they need.
Actual Product Launch
Launching a product is not merely setting your listing to go live on Amazon. All new products, even the best ones are likely to start out at the bottom of each search results. And without doing the work, those products can stay there, well, forever.
The most common and among the most effective way of launching a product is by driving external traffic to Amazon (i.e. Facebook and Google ads). But when driving external traffic to your Amazon listing, it’s is important that you do not send them directly to your listing. Why? Not all site visitors will end up buying your product. Keep in mind, that receiving tons of impressions with minimal conversion can actually do more harm than good to your listing. This is why we recommend the use of landing pages where you are able to “warm” cold traffic by being able to showcase your product even before they visit your actual Amazon listing.
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