Getting a great product on Shopify is more or less a task; this is why it is essential to follow some due Process that will make the job easy and effective. This article will expose us to practical steps and guides on how to conduct Shopify product research, helping you to define and identify a great product. A great product is simply an available, accessible, valuable product that can be shipped and sellable. Above all, it is a product that will improve your success as an online retailer.
Doing great product research helps save you of unnecessary stress and havoc that may occur later in the future; you can tell if a product is excellent or not when you go through the existing data thoroughly. Now, how do we get to judge if a product is ideal or not? The steps below will guide you to conduct Shopify product research!
The first thing you should look out for is the accessibility of the product; you should evaluate this from the previously existing data. Once a product takes a long period to be supplied, please mind your next line of action.
- The next thing is to evaluate how demanding the product is. Is it going to be demanded later in the future or just for the main time?
- Check out how competitive the product is. Are you the first person to market it, or other companies are competing with you?
- Also, take note if the product is shippable and how much it will cost to ship it to your location.
- The last thing is to find out the importance of the product, that is, the product’s long-term potential.
Using the right product research method helps decrease the chances of failure and increase the chances of success. The following steps will guide how to conduct successful product research.
- Specify Your Product Distinctively
Clearly define your product will help you in so many ways; for example, people who shop for cars usually state out what they want in a car ranging from its status to reliability, safety, affordability, and beauty.
Someone who sells a machine shouldn’t just tag it as a machine; the information about the product should be in detail. Is it a machine meant for washing, cooking, or drying? In addition to listing all information about your product, you should not hesitate to write down its benefits and the functions it performs. This will now lead you to find your potential product.
The following are steps that guide you in finding your potential product.
- Use various online stores like google, Amazon, and other trending sites to find out their current selling products.
- Check out online sellers with positive customer reviews. From research and experience, online sellers with poor shipping problems and overpriced products usually have poor reviews.
- Rate market demand
After you’ve clearly defined and found your target product, the next line of action is to rate the market demand. Doing this evaluation will help you to know if there is a customer need for a particular product.
The first thing you can do is type the product on google to know how popular they are now and predict how they will be in the future. If a product has been consistent for a long period, it means it can also continue to be relevant.
Also, you can evaluate market demand for a product by using social media to research the product. Social media like Facebook and Instagram. See a few tips on social media research below:
- Facebook: Searching on Facebook can be in two ways, you can either search by the product category or use keywords related to the product.
- Instagram: You can search for products on Instagram by following multiple pages in the same niche or category with the product. Make sure you turn on post notifications on those pages. Also, you can make use of a hashtag search.
- Using Google: You can also use the Google search engine to search for the product to know about the related forums and communities of the product.
- Getting to know about your competitors
When you have solid knowledge about your intended product and the competition surrounding it, it helps you verify your market demand research. However, completing research relating to competition can be handled using tools like Zon Hack, a specialized Amazon Product Research Tool.
Online marketplaces like Amazon, eBay, and Walmart helps to show the statistics of the seller and the number of sales a product has. With these sites, you can strategize how to stand out among other sellers by evaluating their customer reviews and additional related information about them. Making Use of Google is also a suitable method; just type in the product on Google to see who or those are currently selling the product.
- Create a Product Show
After you have researched your competitors, the next thing is to create product demos. You can do this by testing your product in limited areas Making use of different prices, distribution methods, and marketing texts. Test all these methods and note out the one with the best turnout
- Choose a method to acquire your product
There are three different methods of acquiring a product on Shopify. They are Wholesale, Manufacturing, and Dropshipping. However, what matters in any of the methods you choose is how low your price is enough for you to make a profit, how quickly you can receive products, the minimum you need to order, and how much it costs to deliver the products to you.
The steps and methods listed above are essential. Don’t ever skip any. Lastly, you can set up an Ad to test your market, always inform your customers whenever you have a problem with shipping or whenever a product isn’t ready. Engage your audience with exceptional marketing messages which will help boost your sales.