For new entrepreneurs, deciding to start an online business is
exciting but it’s also new terrain that can be intimidating and difficult to
navigate. One of the biggest challenges aspiring ecommerce entrepreneurs face
is figuring out what to sell online - whether it’s a single product or multiple
products that occupy a niche in a market.
Coming up with product
ideas can be tough and it often feels like everything has already been done.
Not to mention there's a lot of competition online these days. Consumers are
just a click away from online giants like Amazon, Walmart, Zappos and Best Buy,
who also happen to be extremely difficult to outrank in the search
engines.
But, there are still golden opportunities out there and new,
successful products are being launched all the time.
So, how can you get in on the action? We’ve put together a list
of eight strategies and opportunities that you can use to help you start
generating product ideas.
Product and Niche Opportunity Types
Below is our list of eight potential opportunities to help you
find your own product or niche. Each involves a different mindset and approach.
Find Opportunities in Keywords
Build an Interesting/Captivating Brand
Identify a Customer Pain Point
Identify Customer Passions
Go With Your Passion
Look for an Opportunity Gap
Consider Your Experience
Capitalize on Trends Early
Let’s take a look at each opportunity in more detail:
1. Find Opportunities in Keywords
It’s no secret that organic search traffic is a massive
marketing channel. Looking for keyword opportunities involves strategically
looking for a product or niche online based on the search queries people are
using, volume and competition for those searches. This approach is fairly
technical and involves a strong understanding of keyword research as well as SEO. Finding
opportunities in keyword searches can
be an effective strategy for capturing consistent organic traffic from Google.
This strategy is particularly useful if you plan to dropship
products, as margins on drop shipped goods are thin making it
difficult to use paid advertising channels effectively.
Example: When Andrew
Youderian first got
into ecommerce, his goal was to build a business that would generate income and
provide him with flexibility. Because of this, the viability of the business
was more important to him than being passionate about the product he sold.
Because of this he took a technical approach in picking a niche that he felt
had the highest chances of success, basing his niche selection on careful
keyword research. Andrew Youderian found an opportunity to rank for keywords in
the fishing equipment industry as well as CB Radios.
Culled from http://www.shopify.com/blog
Post a Comment