Dropshipping starts with product research and product research is one of the most important skills to have. We have found that the success of a dropshipping depends all on choosing the right product to sell.
We would like to share the exact product research strategy, so you can find Winning products every time.
What exactly does Product Research strategy look like?
Factors to ensure your winning product has the best chance of success:
Selling Price to Customer - at least 3x of the purchase price.
Max Selling price - 30-45$
Sell Products that are small in size and lightweight.
Sell products not available in local markets.
Large Audience Size - Search for an audience size of product niche using Facebook ads manager. The interest section in the FB ads manager shows the audience size. Selling a product to an audience with a large size confirms the scalability of the product.
Wow-factor, unique, solves a problem is an emotional and psychological factor to look for in a product that influences the customer to make a purchase.
1. Finding Product
Start researching a product on Facebook or TikTok. Engage with similar ads… eventually, your feed will be filled up with such products. Also, use search for related keywords like amazon finds, buy today, free shipping, etc. You can also use TikTok creative center for searching products.
Products with good engagement which fulfill our above requirements is a winning one. Shortlist at least 10-20 products or more and make a list of the products in an excel sheet.
2. Product Saturation and Competition
Product validation is the most important step for the product to be a winning one.
The most important aspect of validation is whether the product is saturated, competitive, or untapped.
Use Saturation Scout chrome extension to check the saturation level of the product. It is a free chrome extension. You can add it to your chrome browser for the chrome web store. Search for saturation Scout on google or on the chrome web store to get started.
It shows whether the product is competitive, saturated, or untapped. Products with good engagement and if fewer people are selling the product or are untapped, this assures that the product has to be a winning one, as the product is already selling well and there is almost no competition while marketing the product.
On the other hand, if the product is competitive, it can also make you money but it requires more investment and margins becomes low.
A saturated product becomes almost impossible to make a profit out of as there are too many stores selling it, which will further require you a brand-building process that requires, time, a lot of investment, and some extraordinary marketing skills.
Also, Saturation Scout Chrome Extension gives the list of competitive stores selling the product which further also helps you to find what other products potential competitors are selling which also helps you find products that you can upsell.
3. Product Trend
Use Google Trends to check the product or niche trends for recent times. Search for product or niche of the product, if the chart goes upward or is constant for a couple of years, it validates positive trend of the product.
All these steps confirm the profitability of the product and you have winning products now.
And you are good to go...
Now that the product research is complete, Create a good-looking store and make good creative of the product. You can copy the creative of the product from stores that are already selling the product and try to improvise with the creative. Start with marketing it on Facebook or Tiktok so you can start selling the product.
Comment below if you have any questions.
Good Luck!
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