27/12/2023
If you do not understand your customer profile: Who, When, Where, Why and What. You don’t know who is your actual customer when they buy it (need), where they use it and what value and experience they expect. Selling will be tough for you.
Have you heard of Warren Buffett? He picks products like you should, by finding undervalued companies and investing for a long time. You need to look at finding products with low reviews (undervalued) but strong potential. You’re going to improve it to create something that will sell for years.
Here are some of the tips that may help to differentiate the product:
Lowering the Price is not the Answer:
Launching a product with a lower price is not how to win on Amazon. With decreasing the price customers will only compare your product with reviews and it will be a price war.
Product Bundling (Warning!)
Avoid pushing bundling; it won't help to succeed but may reduce conversions. Let it clear with an example, consider a travel pillow as the main product with a bundle of eye masks and earplugs it makes sense. On the hand travel pillow with the bundle of travel bottles, and passport case didn’t match up, what if the customer does not need travel bottles and passport case, why will they pay an extra $$.
Including Bonus Item:
It may be a full user manual for workouts, a recipe book of some dishes, a free pdf download, or could be a how-to do tutorial book.
Ordering your sample and Competitor Product:
Yes, competitor products, it is going to make and break your product because what can we learn from their product and implement in our product, what did they do good, what did they do bad, and why are they selling so much? You can see their quality, packaging, and thank-you cards. It also gives us insight into their external efforts e.g. barcode insert.
Thanks for Reading!
Noor Ul Hadi