This is a major problem that arises in the minds of many young entrepreneurs when they first start to decide on a trade. There are so many types of goods in the shops and most importantly there are many sellers too. So the initiative process is more complicated when it comes to starting of a more fruitful occupation in the present days.
There are many strategies as well as points to consider before deciding on an item to sell. You must be already aware of a few of them like; its type and the target customers and the product brand and etc. But you should understand that the list does not end here. No, the list goes on and on about all the key points that you have to keep in mind in order to become a pro in the business. In this article, we shall discuss about these points that you have to keep in mind before actually entering the field.
We shall first discuss about how you should get started with the process. Then we can move onto the following factors;
- Product price
- Shipping details which include the cost, destination and etc.
- Product reviews
- Product brand and quality and the other sensitive details
How should you get started with the process?
Getting started with the procedure of selecting an item to promote is actually the second step. So, what is the first step?
It is obviously the step where you have to select a niche that interests you. Before anything you should have a clear idea on the industrial sector that you will be dealing with. This involves a whole lot of thinking and planning, but to summarize it for you this is the essence;
You should understand your interests and compare them with the market requirements and prices. Your passion should certainly be one that has higher market value, but with lower competition. You should definitely do research on the area or the industrial sector that you are hoping to join.
The important factors that you should consider when selecting what to sell…
So now you have selected a niche that you wish to take ahead as your trade you are now ready for the next step. You have to consider a merchandise to promote, sell or promote.
Well obviously your industry defines only a very smaller portion of what you will be doing. You cannot take all the varieties that are there.
Given below are the most important factors and the way they affect the career you are trying to follow.
There are many things that decide this factor. The buying price and selling price margin should be kept at an optimum level so that you will have a profit while getting more orders.
If you were to set a higher price, your profit will be high but the number of purchasers will be low. But when you sell it at a lower price, your profit will be low with a larger number of shoppers. There are items that suit both of the above methods. So, when setting a price think for yourself whether it is reasonable and whether the item is worth the value.
Shipping cost, shipping time and the destinations
Let us consider each of these factors one by one.
- Shipping cost: if the cost is higher no one will buy it. This is an obvious fact given that you and I would still be looking for shipping free items when buying items.
- Shipping time: if the time you take to ship the items to the buyers is high, they will be more tempted to purchase from the local market. Trying to provide the item within a very short time period will positively increase the selling rate.
- Destination: try to cover many locations as possible. This will increase your customer base and increase the number of buyers.
Over 75% of the consumers buy items only after reading reviews. The customer experiences of the previous people affect the way that they would look at the item. Hence it is important that you yourself take time to read as many reviews as possible about the chosen item.
Hint: try to convince yourself to buy it by reading them. If you get the feeling that the clients are unhappy about the item drop it.
If you are a seller it is always better to try and receive as much positive reviews as possible. If you are an affiliate marketer you can search for items that have good reviews and proceed.
Product quality and other details
When discussing about this factor, it is definitely not limited to the quality. There are other major factors when it comes to promoting it in the market. Some of the factors that are most likely to have much attention are given below;
- Physical appearance
Think about the things that you will check when you are out there in the market trying to buy something. The exact same list applies here.
Solve a pain point among the customers
This is a well identified and much practiced step that most people try to focus in. If your item is actually something that is going to solve some most important requirements of the buyers it will unquestionably get in the souk soon enough. The completion of an essential requirement would also mean that you will be facing much less competition than others.
The tricky part here is that you should be able to identify a requirement that a major portion of the customers have. If your target market is a lesser amount, you will have to face problems in the future.