Optimized Ecommerce

The Official Build • Grow • Scale Podcast

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Optimized Ecommerce EP 080 – Ultimate Product Research Guide for Ecommerce Stores

Matt Stafford Nov 17, 2021

Welcome to Episode 080 of Optimized Ecommerce – Ultimate Product Research Guide for Ecommerce Stores. I’m your host, Tanner Larsson, CEO of BGS.

BGS means Build Grow Scale! It is a community that we founded where eCommerce entrepreneurs and physical product sellers come to learn how to take their businesses to the next level.

Here’s just a taste of what we talked about today:

The Product Doesn’t Matter!

  • You can have the best product in the world, but if you don’t have a specific plan of attack the iht won’t matter how good the product is.
  • Here’s what actually makes a “Successful Product”:
    • Branding
    • Strategic Marketing
    • Multi-Channel Advertising
    • Product Positioning
    • Mastering Your Metrics

The 6 Rules of Product Selection

  1. Sell what is already selling.
  2. Don’t compete with “name brand” products.
  3. Build a brand, not an income stream.
  4. Know your numbers before you start.
  5. Don’t be afraid of competition.
  6. Plan on “marketing” your product better.

Product Selection Requirements

  1. Can be privately labeled.
  2. Can be sourced in small and large quantities.
  3. Is in demand.
  4. Can be sold for at least $25.
  5. Has high gross [profit margins.
  6. Is of moderate to high quality.
  7. Lightweight.
  8. Durable & not prone to breakage.
  9. Not bulky or large.
  10. Consumable.
  11. Potential for you to sell other complimentary products.

We also discussed a few other fun topics, including:

  • Effective steps to making your product selection a success.
  • 4 phases to evaluate a product’s potential.

But you’ll have to watch or listen to the episode to hear about those!

How To Stay Connected With Tanner Larsson

Want to stay connected with Tanner? Please check out their social profiles below.

Resources

Also, Tanner mentioned the following items on the show. You can find that on: