Selling products online successfully depends largely on how aggressively you promote your website, but even more important is the product that you choose to sell. In the early stages of planning your new website, take plenty of time to brainstorm a list of products that you might want to sell in your online store, then ask yourself a few questions that will help you make a final decision in the matter.
How Many Competitors?
You do not want to set up the millionth website selling bedazzled cellphone cases. Yes, phone cases may sell, but you will be getting a very thin slice of the pie—if anyone happens to find your website. So before you decide to select a product, find out more about the competing online sellers, if any exist. If you do find a number of competing sites selling the same items, explore whether the site is doing a good job of presenting their products. Do they have high ranking on search engines? Would you have some sort of strong competitive advantage compared to these other sites such as a much better price or better quality?
Where Will You Source It?
You have two main options for supplying an online store: you can either manufacture the product yourself or order from a distributor. So before you choose a product to sell online, figure out how you will source it and how quickly you will be able to either manufacture or receive it from your distributor.
Do You Have Knowledge of the Product?
Another question to ask yourself: do you have any expert knowledge of the product that you plan to sell? While it isn’t necessary, it is a competitive advantage. For example, if you have intimate knowledge of automotive parts, knowing the ins and outs of each type of part is very important to potential buyers. They may ask you questions via email or phone and if you can answer as an authority the chances of a sale increase. Also, when you know plenty about the product that you’re selling online, it is easier to write informative product descriptions that entice sales.
Does It Ship Easily?
The next question to ask yourself is how easily you’ll be able to ship the product to buyers. The shipping process should be as simple, straightforward and affordable as possible if you want to maintain a profitable online business. If you plan to sell large, fragile, perishable or odd-shaped objects just keep in mind the complications that may arise, as well as the additional costs.
When you’re done answering these questions for all of the products on your list, evaluate them all side by side. Make your final decision based on how well you believe you can profitably market, ship, source and sell the products in your online store.
