5 Steps to Finding Profitable Products to Sell on Amazon

  • The Value of Testing Your Prices on Amazon

If you’ve ever wanted a step-by-step guide on the best way to find products to sell on Amazon that’ll actually bring you in a decent profit, the search is over. FeedbackExpress has put that guide together so you can get started selling and increasing your bottom line right away.

 

Step 1: Check Out the Best Sellers Lists in Specific Categories

You know the saying, ‘Where there’s smoke, there’s fire’? It’s a good practice to use when finding products. But don’t check out the highest selling items because that can sometimes mean stiff competition. Instead, narrow down your filters to include hot items and fairly low competition. This way, you’ll stay ahead of the curve by selling items that the top sellers aren’t.

These lists are updated every hour, which can be a little overwhelming when first starting your search. But this is one of those things that you just have to spend the time on, so make a chart of how the items that interest you most rank each day for a week.

 

Step 2: Go Into a Product’s Background in More Detail

Make a long list of a dozen or so items that you’re curious about (the number of items depends on how you want to start out — it’s usually better to start small and expand as you find success). From there, open a new tab on your computer and search for that item on Amazon, making sure to include both new and used options so you can see all sellers. Here’s the checklist to know if the item is worth adding to a shortlist:

  • It’s not currently being sold by Amazon (it’s just too much competition and almost impossible to win at)
  • About a half dozen sellers selling that item. Immediately scratch the product if there are more than 10 sellers.
  • There are few, if any, FBA sellers for that product. Above 5 is the threshold here.
  • Of the sellers left, look for small-name manufacturers. The bigger the name, the harder it’ll be to sell the item.

Once you’ve done this, you’re left with your shortlist.

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Step 3: Vetting the Suppliers/Manufacturers

You’re almost there, but it’s time to research the suppliers and manufacturers to make sure you’re setting yourself up for actually selling the products. When you search for each brand on Amazon, open a Google tab so you can find out who the supplier or manufacturer is behind the product. You might not find that information easily, so another option is to look for the item being sold on other sites to find out who the supplier/manufacturer is. What you’re trying to do here is get their contact information so you can start a relationship with them.

 

Step 4: Getting in Touch With the Supplier/Manufacturer

All you have to do in this step is craft a quick email where you introduce yourself and explaining that you want to sell a product of theirs. Keep it short and sweet because chances are, you’re not going to get the right person immediately. But they’ll be able to forward your email to the proper department and set you up.

Once you’re with the right person (ideally wholesale), get their phone number so you can talk in real time. This gives you the chance to go into greater detail than you would be able to via email. But also send them a follow-up email where you bullet-point the conversation so anything you agreed on (i.e. price, payment terms, selling terms, etc.) is there in black-and-white. This helps protect both sides and keeps things clear and free from confusion.

Once you have all the details sorted out, the last thing to go over with the supplier/manufacturer is a distribution agreement so you have the legal rights to market and sell the products.

 

Step 5: Create Product Descriptions on Amazon

You’ve done your research, but there’s still no quite telling how the product will actually sell on Amazon. Give yourself a timeframe of 60 days to monitor its performance so you can test out which changes work best.

 

If all goes according to plan, the next step you’ll be taking is gathering reviews for your product and performance. But unlike the steps in this article, review-gathering is fiddly and takes a lot of time — time you could be spending finding other profitable products to sell on Amazon. Instead of loading yourself down with that, have FeedbackExpress handle it for you. When you sign up now, you start things off with a 30-day free trial.

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2017-12-01T16:31:30+00:00

About the Author:

Marketing Executive with FeedbackExpress.