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AZ Chief Review - Make Your Product Research Faster

Are you frustrated with product research & selection?

Do you feel like you’re spinning your wheels, making no progress towards building the business of your dreams?

If you’re trying to start either a Retail Arbitrage Amazon business in 2018 or a private label Amazon business then you need to find a good product to sell.

You’re not alone. The #1 thing I see new Amazon sellers getting stuck on is product research & selection.

But when I speak with successful e-commerce entrepreneurs, finding new products to sell tends to be the least stressful part of their business.

Why is there such a HUGE disconnect?

How can new sellers be so overwhelmed with something experienced sellers barely think about?

It’s because new sellers are using outdated strategies.

E-commerce is currently the fastest growing business model in the world. In fact, it’s one of the fastest growing business model ever. 

With rapid growth, comes rapid change. And here’s where new sellers have a big disadvantage…

When I figure out a new strategy in my e-commerce business, here’s AZ Chief Review I do (in order) –

  • Implement it across my main e-commerce company
  • Help my high-end clients implement it for themselves
  • Help my other clients implement it
  • Write about it on my blog / make some YouTube videos

New sellers typically learn how to launch & grow their businesses from blogs (like this one), YouTube (like our channel), etc.

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Learn simple strategies to boost sales and turn your side hustle into full-time income

That usually works out just fine – except when you’re talking about the fastest growing business model ever.

You see, Amazon & E-Commerce are growing mind-numbingly fast. Strategies that are working today will be stale by Christmas.

By the time I (or other like me) write about the strategies that are working for us, they’re already outdated.

And that’s why you’re so frustrated – you’re using strategies that used to work, but simply don’t any more.

How Can You Break Free?

If you want to break free, you need to use a magnet.

Experienced sellers don’t need to spend hours and hours on product research & selection – we use strategies that attract the best ideas to us.

What are those strategies, you ask? No worries – I’ve got you covered 

Over the past 3-years, we’ve worked with over 5,000 clients to successfully launch new e-commerce brands from scratch. I’ve probably seen every product research & selection strategy known to mankind…

Some of those strategies are solid and timeless, like surveying your target customer for pain points. Most strategies, however, are purely a waste of time (such as scanning Amazon’s Best Seller Lists).

Up until now, the only way to know what works (and what’s a waste of time), has been searching through an endless sea of blog posts, podcasts, and more. And it simply takes way too much time.

Since our team has been prepping to open enrollment to a new round of clients (in about 2-weeks), we’ve been digging into the data and checking what’s working vs. not working for our clients.

What we found, was pretty surprising…

Out of all the hundreds of strategies out there, there’s just 3 main product research & selection tactics working right now. I wrote a detailed breakdown of each strategy, showing you exactly what it is, how it works, and how you can put it to good use.

 (or click the Juicing For Vitality Review)

What's Working Now - Product Research & Selection for E-Commerce/Amazon Sellers

I’ll also be sitting down later tonight and recording videos to explain each strategy more in-depth.

This e-book will only be available for the next couple weeks, so be sure to grab your copy now (even if you’re saving it for later).

Once we open up enrollment and take on a new round of clients – we’ll be taking this down and keeping this private.

Hope this ebook can help fuel some breakthroughs for you and your business!

P.S. – What’s the worst product research & selection tactic you’ve ever heard of? Share in the comments below.

I’ll pick my favorite comments and give you an all-expenses-paid scholarship to our premium coaching community for e-commerce entrepreneurs (worth $3k).

New product introductions require a blend of creativity and number crunching. Do it well and your online business will generate sales and profits; do it poorly and you could be wasting money on underperforming ads.

Online retailers offering unique or private label products often have a different marketing task relative to Internet merchants selling established goods from recognizable brands.

Consider, as an example, the differences between marketing a product like GoRuck’s unique, military-grade rucksacks and marketing shoes from Nike. GoRuck needs to introduce shoppers to the benefits of its specific products, help them understand the company, and create a perception of value. An online store selling Nike shoes, however, may need to let folks know that it has Nikes at reasonable prices. How one achieves either of these ends could be different.

In Search of the Proper, Product Launch Marketing Mix

To help spread the word about its products, GoRuck created a series of events that put paying participants through military-style training whilst wearing the company’s rucksacks, some of which cost nearly $400.

Ultimately, GoRuck’s events — the company has had more than 2,500 — appear to be a successful enterprise of their own, akin to CrossFit events and the Spartan Race series. But an ecommerce entrepreneur would be unlikely to find “create massive fitness event series” on a list of product launch recommendations.

In June, Shopify, the ecommerce and point-of-sale provider, released a short case study about its own private label ecommerce experiment. Starting with nothing, a group of marketers at Shopify created a new online brand, Hello Matcha, and generated $922.16 in revenue in just three days.

Shopify used personal relationships to fuel its Hello Matcha product launch.

Shopify used personal relationships to fuel its Hello Matcha product launch.

For its product launch, Shopify made extensive use of personal networks to help spread the word about the product online.

“Using a combination of Skype, emails, Facebook, Twitter, and Google Chat, Tommy (Walker, one of Shopify’s marketers) reached out to everyone in his personal and professional network that he thought would be interested in trying our matcha tea,” wrote Shopify’s Richard Lazazzera. “Marketing is all about finding the right channels for your particular business and getting in front of as many qualified buyers as possible.”

The challenge, then, for ecommerce entrepreneurs and marketers is to learn which marketing channels will help them address potential customers in a meaningful way.

An approach to discovering these sorts of channels may be to do a little research; just be careful about what you find.

Research Marketing Channels

Once you have goals for your new product launch, do a bit of marketing research to find out what others have learned from launching products or surveying shoppers. But always put that research into context, comparing it to the market, to what you know about your industry, and to what your business can afford and execute.

For example, The Nielsen Global New Product Innovation survey asked more than 30,000 shoppers in North America, Latin America, Europe, Asia, the Middle East, and Africa how they learned about new products. The research focused specifically on shoppers with Internet access, and it provided some interesting insights into how shoppers encounter new products.

This 2015 Nielsen survey provides many insights about how shoppers discover new products.

This 2015 Nielsen survey provides many insights about how shoppers discover new products.

One of the most interesting findings in the survey was that television ads, as a herald of new product introductions, had slipped some 11 percent in just three years.

When Nielsen conducted similar research in 2012, 63 percent of respondents said they learned about new products from television ads. In the new version of the survey, conducted in February and March 2015, 52 percent of respondents learned about new products from television ads.

This sort of data might be applied to your product launch strategy, helping you make better decisions about where to invest. Just be careful to interpret the research correctly.

How, as an example, should you view television advertising in light of this information from Nielsen?

One might think that since television advertising is on the decline, it should be avoided. But, according to the Nielsen survey, television advertising was still the second most common way that shoppers learned about new products, with only word-of-mouth from friends and family members (56 percent) being cited more often.

What’s more, television advertising seemed to perform just as well with relatively hard-to-target Millennials and Generation Z shoppers.

“Generation Z and Millennial respondents use TV and radio to learn about new products at similar rates to Generation X and Baby Boomer respondents,” the Nielsen study authors wrote.

So maybe television really is a good channel for new products. And, perhaps, you should consider it. Hold on, there is one more thing to consider.

In general, marketers spend more money on television. TechCrunch reported in January 2015, that in the United States, television gets 42 percent of ad spending or about $78.8 billion this year.

In contrast, digital marketing gets about 28 percent of ad spending in the United States or about $52.8 billion in 2015. Radio gets about 10 percent of 2015 U.S. ad spending at $17.6 billion.

Given that so much more, in general, is spent on television, wouldn’t it be normal to expect television ads to be near the top of Nielsen’s list?

The point to all of this is that doing what Shopify’s Lazazzera suggests — “finding the right channels for your particular business and getting in front of as many qualified buyers as possible” — is not as simple as looking for marketing data, best practices, or even good research about how shoppers find new products.

It is all of those things — combined with a healthy measure of creativity and experience.

 

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