TIPS ON HOW TO FIND AND SELL PRODUCTS ONLINE

If you dream of opening an online store, chances are youve envisioned what youll sell. But even if youve always wanted to run a widget shop, you need to think long and hard about whether or not widgets will sell! If buyers dont want what youre offering, no amount of marketing, online buzz or discounts will make it fly off your shelves. So before you invest time, resources and effort into getting your website sales up and running, take some time to think about how to find and sell products online.

Step 1: Finding the Right Product

As you consider the pros and cons of different products to sell, here are some questions to ask yourself.

• Is there demand for my product? If youre a savvy shopper yourself, you already have an idea of whats hot or up-and-coming. Regardless, take yourself on a virtual shopping spree to get all the facts. A few quick searches on will display the market price for a specific product. Online tools like Google Trends can also provide valuable insight into hot selling products and the number of people searching for related product keywords. Find out if shoppers truly want this product, what the market size is and whether or not it makes sense to sell it online at all. Seasonality counts, too; keep in mind that certain products will sell well only during certain times of the year (like beach toys in summer). Another important point to think about: Does this product offer the potential for repeat shoppers, or is it a once-in-a-lifetime investment? These factors will drive your marketing, inventory and price.

• Is my product legal to sell? You may know youre not dealing in anything illegal but if youre planning to sell internationally, your targeted countries may not always see it that way. For instance, those vintage playing cards in your store may seem innocuous, but business wont boom in Brazil, which prohibits their sale! As an international seller, it is your responsibility to make sure that your product is compliant with the laws of the country you are selling to. Before you set up your online store to sell overseas, make sure you take the time to familiarize yourself with the regulations of all the countries you are planning to sell to. For an overview, visit eCommerceWeeklys

• Whos my competition? In a healthy economy, theres room for multiple sellers of the same product - but you dont want to enter a saturated market. Visit websites of online and brick-and-mortar stores to get an idea of how popular your chosen item is, how your competition attracts and interacts with customers, and any promotions they use to drive sales. Sign up for their newsletters and social media alerts, too, and try Googles Keyword Planner Tool to take a look at SEO competition - your online stores eventual position on Search Engine Results Pages will have a direct impact on your ability to attract customers. Finally, search for your product on , Amazon and other major marketplaces in e-commerce, because thats often where shoppers go first.

• What will my costs be? Once youve gotten an idea of what your competitors charge for their products, you can hone in on the price you should charge. But make sure youre taking all costs into account! What are you paying for your e-commerce site, packaging, shipping and publicity? Will your product markup adequately cover your costs, plus provide enough of a profit margin for you?

Step 2: Selling Your Product Online

Now that youve determined that your product has potential, lets start thinking about getting it sold. Once again, ask yourself the following questions:

• How can I effectively market my product? Youve paid attention to the competition - now figure out what these online merchants are doing right and wrong in getting their merchandise noticed. Devising an effective marketing strategy is fairly straightforward (look online for samples and tutorials) and will give you the framework to ensure youre hitting all the marks in terms of publicity, advertising, social media (eCommerceWeekly gives a good rundown of social media and selling at), promos and loyalty programs. Remember, buzz is what its all about with e-commerce. Grab customers attention in a unique and professional way, and watch your sales spike!

• How will I ship my items to buyers? When you were weighing the pros and cons of your product, with any luck you considered whether it will survive the shipping process. A pottery shop, for instance, wont stay in business long until youve figured out exactly how to protect your pieces from origin to destination, and if what youre selling is perishable, timely delivery is of the utmost importance. In all cases, making sure youve invested in the best shipping materials and procedures possible will protect you from unhappy customers and the cost of having to replace damaged items.