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Before starting an ecommerce store, it is important to have a product idea that you think will be profitable. Having the wrong products can not only lead to losses but also set up your business for failure in the future as well.
When creating and designing new products, make sure they are tested based on their profitability before building them out further or setting prices etc., as otherwise there could be significant consequences such as financial loss if these mistakes aren’t caught early enough!
So let’s dive into how to do product keyword research for ecommerce.
Understanding your product and the market opportunities
When you’re choosing what products to sell, there are two main categories—specificity and commoditization. Commoditized goods have few features that set them apart from similar items; they can be sold at lower prices because of their popularity. Niche products instead highlight one or more unique traits in order to stand out among competitors’ offerings, so the price tends to be higher for these types compared with commodities available elsewhere on the market.
If you choose to sell white t-shirts, for example, they are a commodity product. They’re not different than other t-shirts available from somewhere else—and most people will buy based on price.
If you’re going to compete on price, this isn’t a bad option. Walmart and Amazon thrive on selling these kinds of basic commodity products at discounted prices.
But for most eCommerce store owners, this isn’t a wise decision. Amazon and Walmart have the benefit of scale. Multi-billion-dollar companies can afford to make a few cents of each purchase. But for almost anyone else, this is a surefire way to end up broke.
Instead, develop a niche product.
If commodities are basically identical from one seller to the next, niche products are the opposite—different with each seller. This means they can charge a higher price. That’s the value of a niche product. Because you’re selling something unique, consumers don’t buy on price (at least, not to the same degree).
As a result, you can charge far more—and make a decent profit.
With that in mind, how can you find a great niche product? There are as many methods as eCommerce store owners, but we’ll focus on what’s been proven to work the best.
How to find great product ideas ?
SEO tools can help you analyze the market and demand of your product. They provide helpful data for products, but when starting out it’s overwhelming so here are a few tools to save you from tedious work!
The Google Trends website by Google analyzes the demand for products and top search inquiries in a given area. In order to estimate how often people use certain words, you can put that word into their search bar at google.com/trends. For instance, if you want to check which product is most popularly searched across different areas or dialects, all you have to do is type “clothes” into your local trends tab on the site’s homepage!
This free online tool is great for content writers, bloggers, and marketers. It can help them find new ideas to write about or what users are searching for in regards to a given topic.
- backlink data
- rank tracking
- site audit reports
Answer the Public is a great tool that helps uncover what people worldwide are curious about and going through. It’s also intuitive as you can simply enter your keyword on their homepage to understand precisely what people are asking. Answer The Public might be helpful too as another resource for finding keywords, which could come in handy when doing research or optimizing content online.
Identify or create products that solve a problem
Start off by thinking of the problems you experience on a regular basis. You can also ask friends, acquaintances, or complete strangers this as well!
You’ll find a mountain of products that solve common problems.
The ideal problem-solving product is usually so simple you’ll wonder why you didn’t think of it before.
That’s a great place to be because it means people with the same problem are asking why they don’t already own what you’re selling.
What about products you’re already passionate about?
Not all products solve problems. Some items are just inherently interesting to a small group of people. The more knowledge you have about a niche, the faster you can bring a product to market. You’ll shave hours, weeks—even months off your research if it’s a product you already use.
The more knowledge you have about a niche, the faster you can bring a product to market. You’ll shave hours, weeks—even months off your research if it’s a product you already use.
What about products you and friends love or hate
To start, write down products you use on a regular basis. Beside each one, write down all the problems you can think of with the product—these could be minor inconveniences or huge flaws in their design. Learning what makes a product unique is an easy way to create your own niche for yourself and provide customers with exactly what they need instead of competing against every other eCommerce store online!
Alternatively, you could also write down some things you wish the product had that it doesn’t currently have.
Finally, write down all the ways you feel that you could improve the product.
- Is it the design?
- Its packaging?
- Its functional?
Many of the best and most innovative companies were founded on the desire to either improve on existing products or to fill a gap that in the market.
Study what Google recommends
First, use Google’s search suggestions to find what’s popular now. Start by typing in a word associated with your niche. Then check the Google suggested results.
In order to find a new product, start by looking around you. Ask people about their interests and learn what they would be interested in buying! You can also look into the internet world using keyword research – understanding which searches are popular with your competitors will provide some insight on where hidden gems lie. Lastly, online trends give you an idea of current day favorites based off search queries; these may lead you down the path towards success if carefully observed!
To start, consumer and B2B marketplaces will give you the answers you need to learn what people are eager to buy. Product reviews and consumer reports can provide helpful feedback on product categories to explore, but social forums and communities may be even better for that starting point as well.