How to Sell on Amazon - a podcast by Michael Veazey

On the last episode of The Amazing FBA, I talked about the realities of private label selling on Amazon. Consider this part two about how to sell on Amazon. Today I'll be talking about some more practical tips. Don't forget! If you want to sign up ETTR (Escape the Rat Race) Workshop, we'll be covering all this and much, much more!





How to sell on Amazon: Skills You'll Need To Learn: Niche, Source, and Launch

Market Research (AKA Product Research)



The first thing to do when it comes to market research is come up with some ideas. I like to split this process up into two parts. One I call PIC (Product Idea Creation), and the other I call PIF (Product Idea Filtering). With product idea creation you start with one idea and go to 100 or more; with product idea filtering you start with 100 or more ideas and filter them down to three or four excellent ones.

Product Idea Creation: Sources of Inspiration



* Hobbies

The weirder, the better. Rock climbing is obviously better than football because everyone does football.

* Home Life

Anything you touch, in the home, in the kitchen, in the bedroom, in the bathroom. Anything can be a product you sell on Amazon. Again, the weirder or more niche, the better. If you do something standard, you're going to get a standard result. That result will be competing with everyone else.

* Touch List

If you're having trouble coming up with creative ideas, make a list of everything that you touch in a day. I wouldn't go with complex electronics. They're stressful because they come with a high rate of failure. You can, however, sell related items. Don't sell phones, cell phone cases.

* Specialist Magazines

Specialist magazines are perfect for finding niche products related to specialized activities when learning how to sell on Amazon. A great example of this is the grigri. It's a belay tool for climbing. Will Tjernlund was talking recently about how he'd just gotten into climbing and that the grigri is one of the most fantastic niche products out there. Inside the rock climbing community, everyone knows about it. Outside nobody does. These are the types of products you're looking for.

* Specialty Shops

Sports shops fit into this category, but it could be anything. Music, dance, whatever you know that other people don't is a potential business advantage. Start with what you know. You don't have to be wedded to it but start there.

* Trendy Shops

Local shops can be an excellent inspiration for niche product ideas to sell on Amazon. Hipster tea shops in London come to mind as places that could be interesting to explore.

* Social Media Tribes

You can be online but be creative. Don't go to Amazon for product ideas. Find tribes online. Facebook groups, blogs, YouTube channels, RSS feeds, Instagram, Pinterest... find a group that's into some strange activity; people who spend money on products that aren't well known.



Keywords: Keep It Simple!!

Computers are good at analyzing data; people aren't. People are good at stories. Imagine a person who needs to solve a specific problem and solve it for them. Don't rely on just one keyword. Use multiple variations.

Product Idea Filtering



* Demand

Are people buying products in this niche?

* Demand Depth

If you've found a $100k market, but the top two sellers are each selling $50k, there may not be room for your product in this market.

* Price

If things are being sold at a few pounds or dollars, it may be hard to make money. Generally, I stay away from low price markets.

* Price to Revenue Relationship

Put simply,

Further episodes of Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Further podcasts by Michael Veazey

Website of Michael Veazey