How To Pick Your First Product For Amazon FBA | Top Tips

I’m gonna share with you how to pick your first product on Amazon so this is going to be an overview of the steps to actually do a product selection process will take like a step-by-step video tutorial on the computer screen I can’t tell you verbally how to do all of these things but I’m going to give you the idea of what happens so number one is you want to open your browser and open a new incognito window you don’t want to be logged into your Amazon account because you don’t want Amazon to

recognize your search results and link things together you want to have a blank canvas so that anything you search is naturally popping up so you go there and then you know you might already have an idea of what category you want to sell in maybe you want to sell in beauty in baby and dogs in home whatever it might be kitchen so select a category that interests you and then what you’ll do is you go to the bestsellers there’s a button for that go to the bestsellers and then browse that area and just look at the products get some ideas any product that kind of spikes your

attention piques your attention then put that into a spreadsheet I would

recommend starting in Google Docs spreadsheets it’s very accessible put the products there with the link to the Amazon product and and just leave it there for now so we’re just coming up with a list of product ideas and then you know if you have some ideas in your own mind that you think could be great Amazon sellers you can actually type those in on Amazon and see what comes up and then you click on the the product and look scroll down to the best sellers rank

so the BSR stands for best sellers ranking and basically it’s indicates to you how well this product is selling on Amazon so a product with a lower BSR self better a product with a higher BSR sells worse I know it’s a little bit counterintuitive but that’s how it works so if the BSR is one it is selling like crazy on Amazon if the BSR is five hundred thousand not as much and

remember that the BSR is going to be different for each

category on Amazon so you’re gonna have to know what the bs are you know ranks are or what you could do is download this thing called jungle scout jungle suck out honestly I can’t believe I didn’t have this when I first start on Amazon because it saves you so much time it’s basically an extension a Chrome extension that you can get it goes onto your Chrome browser and whenever you click on a product you can basically click on the jungle Scout chrome thing it’s gonna spin it it’s gonna like take a couple seconds to do the research it’s gonna make a list of the products using that keyword what the average selling price is what the profits are how much they’re making every month and it’s gonna tell you whether it has low medium or high competition and low medium or high demand and it’s it’s just honestly such an amazing plugin I’m linking it down below for you guys if you want to try it out I honestly think that at this point this this jungle Scout is a necessity for a new seller at one point I thought maybe it was just an accessory you know like something as a luxury item but really I think it’s a necessity now because it’s gonna save you so much time and it’s gonna make sure that you don’t get your calculations wrong with human error it’s a it’s a computer so it’s not really it’s pretty much right most of the time so you can do that so bs are basically though the lower it is the better is selling the higher it is the worst it’s selling okay so can you basically say for example you decide that you like you want to sell an iPhone case so what you’ll do is you’re gonna find the best selling iPhone case on Amazon and you can you know how to do that because Amazon has a best sellers rank and you find the best selling and then you also find the two competing products so though two that are like the runner-ups the ones who are almost the best-selling but not quite and so you plug those into your spreadsheet and basically what you want to do with those is you want to evaluate them how

identical are they to the best-selling are they very different do they have more reviews less reviews reviews is a huge thing to take into consideration because believe me it is hard to get reviews

Amazon nowadays so some you know sellers might have five thousand reviews

honestly I would never compete with that that’s just way too hard I know I’m never gonna have five thousand reviews it’s not a limiting belief it’s just the fact I’m not it’s not gonna happen so um I wouldn’t I would shy away from that probably but you know products that you can find these like little nugget products where they have really high demand on Amazon but a low number of reviews and that’s probably my favorite way to find a product because when they have high demand but low reviews it just kind of opens the door for you it’s almost like they’re saying come in sell here and become a best seller

immediately because we want you here it’s really it’s really an awesome thing it’s almost like they’re giving you a gift

so I find I call them little nuggets they’re the little golden nugget product say for example it’s this gold-plated journal and this thing is selling like crazy that BSR is very low for its category but there’s only a hundred and fifty reviews for the number one sign item the second runner-up has 200 and views maybe the third runner-up has 50 reviews I in my opinion would say wow this is a very this product has a lot of potential and then I would put it on my list to look in-depth look further in depth do more research on it figure out you know why isn’t anybody else you know figuring this out why didn’t anybody else find this product why am I the only one who has seen this opportunity potentially okay next you’re gonna look at price so price is very important I would recommend that you don’t find a product under $10 because anything on Amazon under $10 can be considered an add-on item add-on item basically means that if someone wants to buy that product they actually have to have $35 worth of merchandise in their shopping cart before they can check that out so if your product is $9 somebody won’t be able to buy it right then

they’d actually have to spend more money on other products just so that they can buy your product so that’s really inconvenient for you and that’s gonna probably decrease sales plus profit margins aren’t that great under $10 anyways unless you sell a killer amount of inventory but we won’t bet on that so I would recommend anything from $19 up to you know $80 is a good selling price you do want to make sure that you’re branding yourself as the premium product because you want to be the premium product you want to make sure that the products that you get are the top quality products because they’re gonna lead you to the most positive reviews good feedback they’re gonna lead to repeat buyers

you don’t want to be that scumbag that just gets a shitty product that breaks a month after the person uses it you don’t want to be that person and you don’t want to be that brand so brand yourself is the premium product and because your premium you can press it as premium you have the right to do that you know if you have the quality why not

you know so um you know maybe your products $30 I find that’s a good price range on Amazon you also don’t want to go too high so I wouldn’t say above $80 because you know when people go to Amazon they do expect to find a better deal so if your product is it’s more expensive than what they can find in retail stores they’re not gonna buy it so you have to have a little bit of common sense with your pricing but in general look for products that around 19 to 80 bucks so the next thing I would look for is the potential for

differentiation so for example when it comes to private labeling a lot of people will just you know they find a product and they literally replicate that product they find the manufacturer that creates the exact same product they put their brand on it they sell it on Amazon and when somebody comes a

customer comes to buy they might see you know this product and this product look exactly the same but they’re just different brand names and so you know if they had to choose between this product in this product well if this product has been established for a while on Amazon and it has you know 300 reviews versus this product which could be yours and it only has

ten reviews you know then the Protestant persons probably gonna pick this product because it’s gonna see that you know they’re basically the same products the price is same and this one has more reviews so I’m just gonna go with this one so you want to find ways to

differentiate yourself you know you want to make sure that you can stand out some products are very limited with what you can do to change the product or enhance the product good way to figure out how you can differentiate yourself is if you find your product you go to your you know top competitor you click on their reviews and you click on the one in two star reviews you see the things that people are complaining about so if they’re complaining that the product breaks or chips or that the product doesn’t work or that the plastic isn’t sturdy or whatever it may be you take those things into consideration and you find out okay is this something that I can enhance and fix with my product you consult with your manufacturer you ask them hey this is what I want to do the product can you do this and how much would it cost me so I like to do that I like to kind of think about ahead of time because people a lot of times don’t think about that until they’re with a manufacturer and until they’ve decided our product I like to think about that before I even decide on the product because it’s gonna help you in the long runs so if I have five product options probably the first thing I would

consider is profit margins second thing I would consider is review competition third thing I would consider is branding potential which I haven’t even dived into but basically a potential to build a brand around the product I like to imagine myself seeing the product on a Facebook ad so a facebook video ad or a Facebook static ad I would like to imagine myself seeing that what people scroll past it or would they pause to stop and watch it or maybe on Instagram I like to think about what an influencer be interested in doing a review about my product so I really like to consider that because that’s where things are heading it’s all about the influencers these days and if your product is a spoon nobody’s going to be in

said in marketing that to their

followers they don’t want to show that if your product is a hair curler well a beauty guru might be more interested and then the first thing I would consider is how to differentiate your product so figuring out ways that your product can be enhanced optimized better material composition or just like adding bonuses you know just different ways to

differentiate yourself and of course profit margin is important as well I would say you do not want to go below 30% profit margin the reason for this is because on promotions on you know Black Friday Cyber Monday

you’re probably gonna do 20% give a 20% off coupons and at least then you still have a 10% profit margin if you go at 20 percent profit margin then you’re you’re kind of breaking even or at a loss with your product so I would recommend 30% profit margin is it’s good it’s gonna make you money and it’s gonna also give you a little wiggle room for promotions and returns and stuff like that so these are my top tips for selecting your first Amazon product if you want to know things to avoid with your first Hamazon product click on the next video because that’s gonna be dedicated to what not to do and if you want a step-by-step guide on how to source a product from China click on the link down below in the description because I’ve done a tutorial for you where it teaches you that in video format and if you have any video requests for Amazon FBA or questions please comment down below and I’d be happy to help you as always there’s also a link to a course that I recommend for Amazon training I highly recommend it so that you don’t make the costly and time-consuming mistakes that I’ve seen too many people make it’s for your own good in the long run but if you’re interested click on that as well so that’s enough talking for today and I’ll see you next video guys bye

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