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- [EPFN] š°$400K is on the tableāare you ready to grab it?
[EPFN] š°$400K is on the tableāare you ready to grab it?
Launch PL without inventory
Welcome to issue #31 of the EcomProductFinders Newsletter!
Who really owns your audience?
Being a Creator has never been easy, but unpredictable algorithms make connecting with your audience on social media harder than ever.
Enter beehiiv, the newsletter platform used to send this very email.
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š° Today's Agenda:
š« Virtual Bundles Update
š§ Rufusā¦ here we goā¦
š Today's Product Drop: over $400K/year
š” Launching with Crowdfunding
I want to share a little insight with you all:
when it comes to achieving your goals, thereās no room for excuses.
Sometimes, you have to push forward without seeing the obstaclesāeven when theyāre right in front of you.
Last week, Kevin King hosted an incredibly valuable hack contest. If you missed it, donāt worryāyou can catch up on it here
I was invited to present just the night before driving home with my family from the mountains after the hurricane.
As you can imagine, the internet connection wasnāt exactly stable during the drive, and we were racing against time, navigating through post-hurricane traffic. But being there on time and delivering value was my top priority.
Despite the challenges, I made it happen.
Remember, when youāre faced with a situation where you could delay or take action, choose action. Pushing through uncomfortable situations makes you stronger and helps you grow. Finding excuses to avoid challenges only holds you back. Weāre always either moving forward or falling behindāthereās no standing still.
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If you agree with pushing yourself, please reply to this email with AGREE.
It would mean a lot to me and help deliverability of this newsletter.
š« Virtual Bundles Update
Have you heard the news?
Virtual bundles are no longer available on Amazon.
Vanessa Hung shared this update in one of her recent postsāsheās always on top of the latest Amazon changes. If you want to stay up-to-date with everything happening on Amazon, sheās the one to follow.
So, if you've been making money through virtual bundles, it's time to pivotāthis opportunity is no longer available.
You can learn more about this update on Vanessaās page
š§ Rufus and Product Awareness
If you notice that Rufus is prompting questions on your listing about features your product doesnāt have, this can create problem awareness for potential buyers.
Let me share an example:
I was recently shopping for a balance bike for my child, and Rufus prompted me to ask if the bike had pedals. Initially, I wasnāt even considering pedals, but this question made me think about it. The bike I was looking at didnāt have pedals, which led me to search for balance bikes that did. Eventually, I found one that had pedals and could even transform into a tricycle, offering more value at a similar price.
This ended up costing the original seller a sale.
From the perspective of an Amazon seller, this can be a tough situationāespecially if your listing is well-optimized.
But thereās a way to turn this around. If Rufus is priming potential buyers with certain questions, make sure you address these features in a positive light within your listing. For instance, if youāre selling a balance bike without pedals, you could include a note explaining that a pedal-free design helps children learn balance faster without distractions. This way, when Rufus scrapes information from your listing, itāll share a positive take on why your product is designed the way it is.
Remember, Rufus bases its prompts on the common questions shoppers ask, so use that as an opportunity to highlight your productās strengths.
š Today's Product Drop
Yesterday, I was working on one of the videos that will be featured in Kevin Kingās upcoming new project. During that process, I found a promising product using our ChatGPT tool. If you havenāt tried it yet, hereās the link to access it for free.
The product I discovered is making a solid number of sales, and through my research, I found that it has just one competitor in the market.
That product is a restaurant highchair.
While there are many types of highchairs out there, I uncovered a specific keyword through the Amazon Product Opportunity Explorer that revealed a whole niche with virtually no competition.
This keyword opened up a market I hadnāt even considered before, where I couldnāt find any other direct competitors.
So, when youāre searching for products and validating them, make sure you look at a variety of related keywords. Often, the opportunities lie within those details. And even if this sounds like a reminder of what you already know, sometimes we need reminders more than new lessons.
Who wouldāve thought that a common product like a highchair could have such a lucrative opportunity in the restaurant segment, with only one competitor for commercial purposes?
Hereās your product drop for today: this niche has just eight new competitors in the past year, and only two have been successful.
You can even sell these in bulk for B2B. According to the Amazon Product Opportunity Explorer, only one seller is recognized in this space, as you can see in the screenshot below.
š” Launching with Crowdfunding
Crowdfunding is one of the most effective ways to launch your product without having to invest in inventory upfront.
Given that Kickstarter has been around since 2009, many people still arenāt fully aware that you can use crowdfunding to launch almost any productāas long as it has some element of innovation.
Innovation doesnāt necessarily mean creating a completely new mold, electronics, or nanotechnology. It could be as simple as a creative art design, unbreakable dishes, stylish waterproof clothing, or even a new version of furniture with a unique feature.
The key to a successful crowdfunding campaign is to create excitement and build a story behind your product.
For instance, you might share how you always dreamed of becoming a parent, and once you started raising kids, you realized that the market lacked a specific product. After having your first child, you found a gap, and even with your second, the need was still unmet. It made you realize that unless you created this product, it might remain missing in the market for generations. By bringing this product to life, you could help other parents with the same need.
This is where you invite backersānot as business partners, but as the first people to get their hands on your product.
The beauty of crowdfunding is that you donāt have to undercut yourself on pricing, but you also shouldnāt inflate prices. For example, if you plan to sell your product at $100 with a markup of $40, you might offer it on Kickstarter for $80. This way, backers save $20, and you still make a fair profit. Behind this, of course, lies a well-planned marketing campaign and many other moving parts, which I recently shared in my webinar.
If you think this approach could be right for you and believe you have a great product idea, simply reply to this email, and Iāll connect you with my team for a discovery call.
šø When was the last time you checked how much money Amazon might owe you?
Issue 31 wrapped! š
Safely back home and ready to crush Q4! š„
Izabella Ritz