It’s the #1 question facing e-commerce business owners today:
“What should I sell?”
With millions of product options out there, how can you choose one that will cut through all the noise and increase sales for your business?
For years there was no easy answer. You’d check a few reports on Amazon, or you’d ask some friends on Shopify, and you could find out what was selling. But in the end, it would come down to gut feel. Could the market support a similar product with similar pricing? Was there an opportunity to steal share with a lower price? If yes, would it still make you money? Would-be entrepreneurs simply had to guess and gamble, in some cases betting their business on little more than a wing and a prayer.
Wouldn’t it be great if there was a way to take the guesswork out of the process?
Wouldn’t it be easier to invest time and energy into your business if you could know in advance which products are ready to catch fire?
Lucky for you, now there is! Hotproducts.io will help you find the best, most engaging, and the most profitable products in the e-comm marketplace. It doesn’t matter if you’re a seasoned veteran looking for your next big hit or you’re about to choose your very first product. Our software will help you make your next move a success!
Here are three of the secret strategies we will help you employ:
Hot Secret #1 – The Wow Factor
We’re not talking about generating traffic here. There are a million ways to generate views, and you probably know a bunch of them already. But clicks aren’t what you’re after, are they? When selecting a product, you want to make sure there is something about the product that makes them want to click…and buy. And, by and large, that something is going to fall into one of two categories:
The logical buyer is, usually, already in a buying mindset. They have a problem in their lives and they have already decided that the product you offer might be (at least a part of) their solution. Sometimes the problem is that they love someone else’s product but they don’t really love the price. At the end of the day, this buyer wants to say “Wow! That purchase made sense!”
The emotional buyer is more complex. They are often here to browse more than buy, which means your first hurdle is to get them into a buying mindset. The good news is that, once you do, they are generally less sensitive to price than the logical buyer. At the end of the day, this buyer wants to say, “Wow! That purchase made me feel good!”
Your launch plan will be much more successful if you know which type of “wow” factor your brand wants to target.
If you would like to see some examples of hot products you can view the article we have on 30 hot winter products by clicking here.
Hot Secret #2 – Winning Video Advertising
You probably saw this one coming. Buyers, particularly those in e-comm marketplaces, need to see a product in action in order to see it as their solution. Action also helps to trigger that emotional response that gets them to part with hard-earned cash. Here are a handful of musts for a top-notch sales reel:
- Keep it short. You have at most five seconds to grab the viewer’s attention, so lead with your strongest material. Entertain as much as possible, especially if your product is one that targets emotional buyers. A video that doesn’t entertain is going to feel like work to the viewer…and you want your customers to feel like you’re working for them, not the other way around.
- Make the most of your ad text. You only get a handful of words, so you can’t go into a lot of details. Highlight the problem, offer a solution, and use text to enhance the rest of the video’s content. The text and the rest of the content should play complementary roles. When in doubt, have someone to read the text with the video and without, then ask them how it reads in each situation. If the answer is “about the same” then why is it in the video and not just part of the listing?
- Use high quality images. It’s hard to say how high-end you need to go, since that will naturally depend on your launch budget for each product. But if you’re snapping pictures with your smartphone, your product is going to come off as cheap, and not worth your time or your customers’. Invest in a proper camera…or at least make friends with someone who has!
If you would like to see how you can get new hot dropshipping products daily you can try the HotProducts.io platform with zero risk for 7 days!
Hot Secret #3 – Perceived Value Pricing
Wouldn’t it be wonderful if there was some formula that you could use to calculate your optimum pricing. Well, there isn’t. As the name suggests, price and value are all about customer perception. And, as any decent marketer knows, perception is, by definition, subjective. What one customer perceives as value others might see as a shake-down.
What we can say for sure is this: lower pricing doesn’t always lied to higher perceived value. In fact, it sometimes has the opposite effect; the lower price conveys a sense of cheapness and/or lack of value. Remember what the emotional buyer is looking to gain from the transaction – how does it make them feel to buy the lowest-cost option on the internet?
The only way to know how your product will react is to get in there and test it out. Start with the lowest price your cost structure can support, then increase it now and then to see how the market reacts. You can even increase the price significantly, and at the same time add a discount coupon that’s only good for a limited time. This tactic creates urgency and a sense of loss, both of which can help a customer decide to but now. One of the great things about e-commerce marketplaces is how easy it is to play with pricing, so don’t be shy!
Use these three secrets from Hotproducts.io to grow your sales. Find your Wow! factor, invest in a winning video, and zero in on a pricing structure that adds value to your customer base, and before you know it you will have a product that blazes like a torch among the competition!