10 Ways to Find the Right Niche and Start Selling Online
Before starting your first online store selling niche products, you need to understand what the right niche is and the best ways to start selling online.
“You can have any color as long as it’s black.” This famous quote by Henry Ford reveals his strategy for mass production of the T-model and for starting the great revolution of the last century.
For nearly 100 years, this sales idea has defined the underlying strategy of most business organizations. The customers can have any product or service they want as long as we tell them what they can have. That was the business philosophy of how to offer a product approximately 100 years ago. Considering the technological leap of the last 20 years, the time when the culture of selling more has been totally transformed by the internet, a lot has changed. Now the customer is taking control of the situation.
The problem for online retailers…
You need some profitable product to sell online, creative ideas to sell more and know how to close deals.
Fortunately, after reading this article, you will be able to put these tips to work for you to identify a profitable niche and start selling online effectively.
Where most online retailers fail…
Many people want to launch the new Amazon in one day.
They try to sell a wide range of products online in various categories to different types of customers, each with the specific purchasing requirements and habits. While this may work in some isolated cases, it is almost impossible to conquer most of the time.
High costs, low margins, difficulties in offering a specific value proposition make it hard to build any business that is not concentrated on one thing.
For example, the Amazon that we know today is very different from what it used to be. Its founder, Jeff Bezos, has always wanted an online store that sells “all the products in the world”. He knew it was impossible to build that kind of business from the start, so he needed a niche — a starting point for solving a specific problem for a clearly defined audience. So, he started selling books online, and the rest is history.
How to Find a Product Niche and What You Should Know
Before you start selling online, you need to define a starting point. This is how the general process can be described:
- Researching ideas in Google Trends is highly recommended.
- To see if the industry sales are growing, you need to find the market data.
- Google search volume will help you pick product categories.
- Before starting your first online store, do some research on influencers and their blogs to find interesting topics.
- Use specific apps to get product sales data.
- Analyze wisely your competitors and suppliers before you start spending any money. Check their level and prices time after time.
The Best-Selling Niche Products in 2019 so Far
- LED Lighting
It speaks for itself — you know how much in consumers demands this category is. For sure, you use it at home, or someone of your friends/relatives does.
If you mix great technology and passionate community, here you have it — a promising niche. If you want to bring something new to the market, you can, for example, add some educational element to it.
These days hand-made materials and accessories attract a lot of new customers who want to find something unique. The niche is expected to grow up to 23,9 million by 2021.
- Vape/ E-Cigarettes
It has been a trend in recent years, and it gained $61B in 2015.
- Subscription Boxes
Who wouldn’t be happy to get new things every month? Especially after hundreds of vlogs of famous influencers.
- Online Food Delivery
It definitely makes your life easier. And by the way, if you combine online food delivery with, let’s say, subscription boxes you will hit two great markets at once.
To start a successful business, you need to follow all these steps:
- Planning. You should think and analyze a lot if you want to create a successful strategy and to find a product niche. And of course, don’t forget about studying your audience.
- Script. Write down all the possibilities and ideas that come to mind; try to catch as many questions as possible.
- Test. Make a few tests before putting the script into practice. For example, you may check reviews from real users available on different blogs and websites like my kitchen advisor.
- Training. We all understand that the sales process should be explained, and your workers must have some practice to know how to deal with critical situations.
- Action. Forget about fear, concentrate, and try various approaches while taking action so that you could figure out what really works for you when you’re selling niche products.
TOP 10 Selling Niche Products Techniques
- Help the Customer Understand What He/She Needs
In the future, the customer will remember the success he or she gained with the help of a salesperson’s advice. Most likely, a consumer will return to do business where he or she felt well understood. In this case, an in-depth study of the customer universe and how their needs can be met through the available offerings is required. This is a rule that should be present in every retail sales manual, for example.
- Establish a Good Relationship with the Customer
If you can understand the customer’s needs and meet them perfectly, they will keep on buying, and your first sale will be completed successfully. A sale is only
successful when the customer comes back, and if this happens, it is because the process has created a relationship full of trust between you and him.
- Be Flexible
A good seller is the one who adapts to the most diverse situations. If you can shape your attitude according to the personality of the customer you are dealing with, everything will become easier in negotiations and will undoubtedly result in a purchase. Implement different tactics for each situation.
- Never Underestimate the Customer
You should always keep on working on improving your services and try to get regular feedback. The customer will not forgive any mistake or low-quality products.
- Be Resilient
Sometimes it may seem that things have gone the wrong way, but you should remember we all have our ups and downs, and the most important is to keep on.
- Show That You Have a Sense of Organization
If you are going to make a new plan every day and change the schedule requirements too often, it won’t help your business grow. You need to understand that success depends solely on your managing skills.
- Create a Strategy.
To elaborate a sales plan is to understand the negotiation scenario. It means to know the buyer and his/her needs, your competitors, and how your product differs from similar ones.
- Be Creative.
Always search for some new tactics, don’t be afraid to experiment; maybe your unique approach is what is going to attract new customers.
- Believe in What You Do and Defend It.
Many people love to criticize others and what they do, but you need to learn to resist. It shouldn’t matter what someone says, stay concentrated on achieving your goals.
- Don’t Forget That Selling Is Also Marketing
With the invention of the Internet, we have many options. You can Google anything and find suitable info. If you want to sell more, but you don’t have that much marketing experience, search for some trustworthy sources and get precious advice.
Unfortunately, you cannot launch any business just having a great idea. There’s always some hard work behind any success and quite a detailed plan. Be sure, if you’re going to follow these recommendations above, your chances to find the best niche and way to sell online will increase rapidly.