table of Content
- Choosing the right product
- Market Research
- Competitors Weaknesses
- Don’t compete, Create Instead
- Avoid these mistakes
- Promoting Your Product
You might have an idea of product or service but you wondering how to sell this online?
In this post, I’m going to share with you my experience as an online marketer how I test over $5,000 in less than 17 days.
So to make this post as useful as it can get, I’ve broken down into smaller chunks to make it digestible.
To make it clear, you may want to answer these simple questions:
- What do you want to sell online?
- To whom you want to sell?
- Who else is selling it?
What are you selling?
The first question will be your market, whether it’s cosmetic or electronic or whatever market you in, this is your corner. It’s where you start.
It’s important to understand and study your market, so you’ll have all the necessary information that will help you down the road.
Second, to whom you want to sell?
This is your target audience; to sell to this audience you have to understand them well. Where they live? How do they talk? Where they hang out? What are their hobbies? What do they like to read or watch?
To obtain this information early on is crucial. This can be found in forums, facebook groups, Facebook audience tools, and offline markets by asking potential clients some questions to get more information that will help you determine what your customers want.
Third, Who else is selling this product?
Before you get excited and start selling, we need to analyze the competition.
Where can I buy that product? Is Amazon selling this product? Look at the reviews and see what they like and dislike.
How much are they selling? Can you find cheaper on maybe on eBay or Aliexpress?
If the answer is yes, then how much will it cost you to buy including shipping and how long it will take to receive it?
Lets say the product on:
- Amazon : $10.99 + $10 shipping + Tax $1.5 = $22.49 shipping time (5 days)
- Aliexpress: $5 + $5 shipping + $1 Tax = $11 Shipping time (21 Days).
- eBay: $9 + $5 shipping + $1 Tax = $15 Shipping time (12 Days).
- Local Market: $12 No Tax No Shipping (No Shipping it is local shop)
What is your choice in this case?
Since it’s not dropshipping I would buy from the local market in bulk to get a discount, if it’s not available in the local market then I would buy from Aliexpress. One of the fallbacks of Aliexpress is the long shipping time but instead of waiting and doing nothing we can use that time to perfect our sales page or landing page.
What your competitor’s weaknesses?
Find out what they missing, maybe the packaging is not great, maybe they lack customer support, there is no up-selling or cross-selling.
Maybe they have a shitty website and its hard to purchase, this could be your chance to gain more opportunities.
Secret That Made me Double my average cost of selling:
Add something for free, maybe a sticker, helpful guide, Thank you letter by their name, free necklace, this will cost you around 0.5 cents or less. But it will be something to make them remember you.
Don’t compete, Create instead
What does this mean? Everybody competing for each other but you don’t have to fall in this line, instead, create something new, let me show you how:
For example, where to buy socks? Almost everywhere right?
So how can you compete in this jungle that is full of monsters? can you enter such a market?
Yes, you can! By not competing but by Creating Instead, by doing something no one else is doing. For example:
- Renew the product, make it fresher, Simply take those socks and repackage them with a unique personality to it.
- Take the product apart and see how you can make it better.
Do not remove the original packaging, because that will be a problem with copyright and stuff.
- Add something surprises and additional items to the package like a free ring, flower, anything that is relevant to what you selling, make sure to include something simple and cheap.
Now, people will come to you because you have a unique proposition that your competitors don’t.
If you got 1000 real customers you serve them well, believe me, they won’t go anywhere but to you.
Each customer you serve will bring with him/her at least 2 to 10 more customers.
This information took me years to learn even though it looks simple but it took a lot of mistakes and fallbacks to learn. What kept me going is that I knew something great will happen due to persistence.
Mistakes Cost me thousands of dollars
When I was starting I made stupid mistakes I laugh about it now. When I wanted to sell something online I did not research I trusted my guts and tried too hard to sell which makes no sense. These are my biggest mistakes in the beginning
- Not enough research
- Not passionate about whatever I was selling
- lack of focus
- never complete one thing instead I used to jump from one thing to another
- comparing myself to giant players (like running general store) which is direct competition against Amazon, Walmart and so on..
And more mistakes that slow my progress. but you don’t have to do the same mistakes I did.
for that reason I highly recommend the following:
- Spend 80% of your time researching.
- Analyze your market
- Analyze your competitors
- know your numbers
- Think about how to scale
- What your business can be in 2 years
- Focus on one thing (running one product store is a great example)
Now let’s get your hand dirty and start selling.
you’ve done answering previous questions, you know what to sell, to whom, and you understand your competitors, now what?
The first thing to ask, does this product work on Facebook ads or google ads?
How to know the answer? Simply, how much the product cost? If its high ticket meaning over $500, that will be hard to sell on facebook, I would suggest google ads instead.
The reason is that Facebook is a non-intent platform, people browse facebook to check on their friends and their niche groups. Non-intent means they don’t have to come with the intention to buy on facebook. if it happens, though, find something interesting with some good pricing, then maybe it’s going to work. This is obviously unlike eBay or amazon or even google, you can sell high tickets here.
Once you know the answer, it’s time to create your funnel.
Funnel means a way to bring your customer to buy your product, it has to be easy and simple.
For me I use facebook ads to bring visitors to my sales page, then I try to give as much value as possible if you’re selling a product you would write a clear description of the product, as well as, bullet points of the benefit of having that product.
Representation of funnel that I use
Facebook-> Ads-> Website-> Convert
It’s simple and direct, I create a website and I add the product that I want to test, two to three products.
I create a fan page with all the designs.
I test each product with a $5 ad budget
The objective of facebook ads that worked for me is video views and messager ads and sometimes PPE ads.
How to find hot products?
I assume you want to sell some kind of product that you found maybe on Aliexpress or any kind of website maybe eBay or even Amazon. That’s perfect! now let’s figure out how can this product benefit others. Can you see how this is different from trying to just get something, now you trying to provide value? by just shifting your mentality a lot of good things will happen as it happened to me as well.
so how you can help your customer with this product?
If its something obvious like a phone charger, the benefits are already known. what to do in this case? present it in a new way. You can find new ideas from searching on the below platforms.
Show your customers how this is different and can be helpful may be cheaper as well.
Heres how to present that product:
- Write down exactly how this product can help your customers.
- How this product can be differentiated from what is already in the market?
- Try to get as many good reviews as possible (social prove is important).
- Scarcity: try to make this limited offer to encourage them to take action now.
- Guaranteed: give your customer a risk-free offer with a money-back guarantee offer.
- Discount: Offer a huge discount, people love to get more than what they paid for.
Use these tactics when you selling any kind of product or service. This will give an edge over your competitors.
let us know what’s your approach to stay away from competition and come up with a product that has unique position.