Running a dropshipping business is no easy task, but you know what’s even harder? Starting this type of business.
The first step to running a successful dropshipping business is finding a profitable niche and trending product in that niche to sell. This is a tricky decision to make, and the success of your business largely depends on it. Your decision should be based on a number of variables, including but not limited to, product demand and levels of competition in the market.
But when brainstorming about potential product ideas, you might find yourself in a slump. With so many choices out there, it’s easy to find yourself overanalyzing your options and descending into analysis paralysis. We know the struggle all too well—which is exactly why we’ve compiled this list. Read on to find out more about effective ways to find profitable products for your dropshipping business.
Keep an eye on Google trends
Definitely, you can't ignore Google trends, prospective online store owners should keep an eye on Google trends. This will allow them to catch emerging trends before they gain traction and capitalize on them before the competition jumps on the bandwagon too. Doing this successfully could give your business a massive edge over your competitors by establishing your position as the dominant market force. You’ll even have the chance to own important SEO keywords that would drive long-term traffic to your site.
While deciding on a niche, it’s also important that you choose a product based on careful keyword research. Finding and exploiting good keyword opportunities will rank you higher on Google search results, which in turn will drive consistent organic traffic to your online store.
Professional Product Research Tools:
To choose a product that is sourceable, profitable, and shippable—that is, has the makings of being a success—you need to conduct plenty of product research first. This is the part where you gather as much information as possible about potential choices for your business and make your decision based on the selling potential of each product.
An essential part of the selling process, entrepreneurs are setting out to open their first online stores might find themselves intimidated by the magnitude of the product research stage, but you can have product research tools do all that for you, quickly and more reliably, thus enabling you to make better business decisions.
Here are three of the best ones on the market right now:
AmzChart--for Amazon dropshipping
AmzChart is a free tool for product research. As for sellers, they can just register for it and check all the features. It has a huge database about Amazon, you can just make full use of its various filters to find out the best sellers for your dropshipping business. As well, it offers complete listings analysis and tracking features, so you can analyze the niche market or just spy on your competitors to decide what to sell. As it's free to use, so just save money to get some ideas to scale your dropshipping business.
FindNiche--for Shopify dropshipping
If you're focusing on Shopify dropshipping, then FindNiche would be the best tool for you. As a professional dropshipping niches finder, FindNiche covers all the features for you to find out winning products to sell on your Shopify store. It has a big database of over 6M AliExpress products and daily renewal of 3M items, so you can access massive data and analyze the product performance efficiently, it will save your time to search out what to sell and keep ahead of the competition in dropshipping business.
AliExpress dropshipping center
AliExpress dropshipping center is launched by AliExpress and can assist you to analyze products on AliExpress before you start to sell them. It is also a great tool for you to do product search, so you can decide what to sell after analyzing the products.
Social media trends
Speaking of trends, what good place to scour for them than on social media? In fact, most trends are either born on or/and gain momentum on social media platforms like Facebook, Instagram, or Twitter. You can find inspiration for the next big trend to base your products on by looking through the Explore pages of these sites to find the latest trending topics, hashtags, posts, and videos.
Forum communities on social networks
Forums are a rich source of good eCommerce business ideas. Browse community forums like Reddit and Quora to identify possible needs or wants that haven’t been tapped into or get inspiration for potential upgrades or improvements that consumers would like to be included in the designs of existing products.
You can add the topics relevant to your niche to your newsfeed on Quora, and you can follow subreddits related to your specific industry on Reddit to access hundreds of useful threads that will inspire you with possible product ideas.
Analyze positive and negative customer reviews
Just as people refer to customer reviews before deciding to invest in a product, so you should consider firstly browsing through the customer reviews for the existing products in the niche that you’re interested in. One great place to start is on Amazon, where you’ll find thousands of reviews, positive and negative, on product pages.
Analyze the general patterns of what makes customers happy and what doesn’t work for them. Be extra attentive towards the complaints and shortcomings that keep popping up consistently as well as any suggestions for improvements that customers might make, like including add-ons or changing the product’s design.
Once you’ve identified the good and the bad, try to incorporate as much of the good as you can and find a way to address the concerns or weak points in your own product design.
Use Pinterest to find what people like
If you think that Pinterest has lost its relevance in today’s marketing environment, think again. Granted that the platform isn’t for every audience or brand, but did you know that, on average, Pinners spend $50 per order through the platform? This is currently higher than orders coming from any other social media platform! Not only that, but according to Shopify, Pinterest is the second-largest source of traffic to Shopify stores.
All of this has enormous implications for businesses wanting to tap into the latest products and trends. And because it’s a photo-based platform, it’s effortless to scan through thousands of product ideas to find the right product for your business. The popular or explore page on the site is an excellent place to start when looking for trends.
Follow influencers to get ideas
According to a report, more than 3.8 billion people actively use social media. Seeing how almost 50% of the world’s population is active on social media platforms, it’s no wonder that today’s consumer buying behavior, especially in the young adult demographic, is heavily influenced by social media’s influencer culture.
Social media influencers are celebrities in their own right and have a considerable following of dedicated fans who look up to them. Influencers, therefore, hold the power to affect the purchasing decisions of their audience.
Seeing all that, you must pay attention to the influencers in your niche. Influencers can create trends and encourage their followers to buy the products that they use, so following them can give you valuable insights into what products to invest in.
Communicate with your customers and get feedback
At the end of the day, you have to remember that all your research is useless if you don’t maintain rapport with your customers and get their feedback each step of the way. A savvy entrepreneur knows that getting inside a customer’s head is the key to getting inside his wallet--- so be smart and talk to your customers. And most importantly, translate feedback into product innovation. Customer feedback is also an effective way to do product research and think about what to sell.
All the mentions above are about how to do product research, while after choosing the right products, it's time to source products. Then we would recommend ShopMaster here. It will allow you to source products for your dropshipping business from eBay, Shopify, 3dcart, Wish, and WooCommerce. It brings automation to your daily dropshipping tasks, such as listing products to a store, optimizing the listings, syncing the stock and price, processing the orders, etc. It would save you time and grow your dropshipping business rapidly.
We hope that this article has helped you in learning different ways to find a product that can assist you in generating a lot of profit. If you have any queries, please do let us know in the comments section.