Ahhh...dropshipping product research.
It's exciting - but if you don't have the right expertise, then it's easy to waste hours searching for the wrong things.
Unfortunately with dropshipping it is not always possible to follow your passions when searching for a product to sell.
While you may well be a Pokemon enthusiast willing to purchase anything Pokemon releases, this is not a viable and profitable way of selling.
It's important to choose a product that is in demand - a product that people love.
Here's our ultimate guide to dropshipping product research in 2019...
How To Choose A Profitable Niche
When it comes to dropshipping product research, it's important to choose your niche carefully and put some thought into which areas would work best.
A niche, put simply, is a specific area in the market that is specialised in a certain field.
For example, you may choose home-studios as your niche and sell recording equipment on your online store.
It’s up to you which niche you choose but do so wisely as some areas may attract far more sales than others.
Choosing a niche to which you can add value is a great place to start.
It’s likely that whatever product you are selling can be bought at tons of other stores therefore you’ll need to make your store stand out:
You’ll need to give people a reason to choose to buy from you over any other retailer.
You cannot compete with other stores based on price as this is likely to set you up for failure - top websites such as Amazon and eBay already have price as their upper hand and so you’ll need to give customers something else.
It’s a good idea to start by looking for a niche that you can charge a premium for:
Something extra that other retailers do not have to offer that you can charge for.
As you’re likely to lose against other competitors on price, you can justify your higher costs by offering something else of value.
One way of doing this is to solve the customer’s pre-sale problems by educating them with informative content.
Pro Tip: People will be far more willing to pay higher prices for your products if you can give them top quality information.
Dropshipping Product Research Criteria
Your best bet is to look for niches that:
- Are confusing and tricky to understand. This will give you the opportunity to offer information and thus charge more for your products.
- Require several parts to function.
- If you can educate a customer on exactly what they’ll need to get their product working, they’ll be far more likely to buy from you as opposed to searching elsewhere for any extra bits they’ll need.
- Also, this gives you the opportunity to make multiple sales in one as you’ll be selling all parts needed to the customer.
- Have products that are difficult to install. That way, you can offer extra information to the customer and perhaps even charge extra for assistance with product installation.
You can, of course, still follow your passions when it comes to dropshipping product research for your store.
It is important though to bare in mind the previously mentioned aspects of a niche that make it sell and so long as these fit your passion, you’ll be just fine.
In most cases a hobby will require people to purchase complicated items that have multiple parts so following your own hobbies may be a great place to begin.
Passions & Problems
Another good angle to work from is problems.
People will be willing to pay to solve problems so it’s a good idea to picture problems you’ve had of your own and things you could’ve used to solve them.
These may be simple things like repair kits or even TV equipment, just small things that people are likely to need and want to buy to solve their problems.
Take a look in the news, in the trending sections of social media, along the streets of your local shopping city.
Whatever is currently popular will also be in great demand.
Yes, I understand modern trends are fleeting and do not stick around for much time, but neither does your store need to stay the same for a long time.
You can, with a little work, follow pop culture to decide what will sell to customers most effectively.
Make the most of trends:
A good way to gauge what sort of things are popular at a particular time is using Google Trends.
Google Trends will give you an accurate idea of which products are currently trending or becoming less popular in terms of the internet.
Have a play around with it to become familiar with how it works and use Google to assist you in finding the best niche to work with.
Your demographic is simply the types of people you’re looking to sell to.
It’s important to consider this when setting up your online store as you’ll need to make sure your target audience not only want your product but know how to find it.
Dropshipping Product Research Tools
A great place to investigate a product’s marketing potential is through Google.
Just think, when you need to find out virtually anything that the people around you don’t have the answer to, where do you turn?
That’s where the next step comes in:
You’re going to want to make sure you’re getting a lot of traffic from Google as it’s a goldmine for attracting customers.
To check how much attention a particular keyword is attracting, simply type it into Google’s Keyword Planner and see how many searches it gets per month. Anywhere between 1,000 and 8,000 is great.
It’s important to remember that not all of your traffic will come from a single keyword and you should experiment with different words that relate to your product to get a solid idea of how much attention it’ll get.
Don’t fret if you find that your niche has competition.
Competition is a good thing.
If your niche has no competitors then it clearly is not a profitable area of the market.
If there are people selling the same product as you it’s because that product is sellable and is in demand, so don’t feel put off by other businesses advertising the same products as you.