Coming up with a good idea for a product to sell online will once in a while strike when you least hope it. Many times though, it’s something you need to be proactively watchful for.
The internet contains an abundance of thoughts and inspiration, however as a new entrepreneur, where do you start? Aimlessly looking through online will just get you so far, so we’ve gathered a list of the best resources to provide you guidance and get you started.
5 places to find profitable product ideas:
As you go through this post and the rundown of resources, it’s ideal to capture all of your thoughts on paper. Once you have the majority of your brainstormed ideas recorded, you will almost certainly return to them later and evaluate them for viability.
Industry leaders
If you know the industry or niche you would like to be in you can utilize different tools to find the influencers in the industry. Following the right people on social media can help motivate new ideas through a consistent stream of carefully curated content from the people aware of everything. It’s up to you to uncover the chances.
There are a few online tools you can use to find the influencers online for a specific industry or niche:
- FollowerWonk
- AllTop
Social curation sites
Polyvore and other comparative image curation sites can be a goldmine for product and niche ideas. A lot of images contain interesting, new and trending consumer and business products. Utilizing the built-in social signals you can in some cases get a sense very quickly of their popularity. This could be your first clue if there is a business opportunity for the product or niche.
A few of the larger social curations sites that may motivate niche business ideas are:
- Wanelo: Wanelo (Want – Need – Love) portrays itself as a community for the majority of the world’s shopping, bringing together products and stores in a Pinterest-like product posting format. You can begin by looking at out trending people.
- Fancy: Fancy describes themselves as part store, magazine, and list of things to get. Utilize Fancy to discover a gift for any occasion and share your favorite discoveries with all your companions.
Social media networks
There are a couple of ways you can utilize social media to search for products and niche ideas.
Hashtag: If you have a specific interest in a product category or industry, you can try looking for appropriate hashtags. Another extraordinary option is to do a search on social media for hashtags that show buyer interest and aim like #buy and #want.
Product curation accounts: There are so many accounts on Instagram that post excellent product content. Like many other examples above, you’ll likely need to look for and find accounts within the niches you are especially interested in.
Audience insights: If you already have a business page on at least one social media platform, you may be able to utilize your audience data to discover ecommerce business ideas. Understand which pages, interests, hobbies, and other characteristics they have in common and brainstorm products dependent on those insights.
On-site and third-party customer reviews
If you already have a business, look at your very own customer reviews. Savvy entrepreneurs think about customer recommendations, the inspiration driving it, and respond accordingly.
If you don’t have any reviews of your own to consider, take a look at reviews of companies and products in your specialty. Identify commonalities, paying careful consideration to customer complaints, and decide how you can make a product that will address those concerns. Amazon is a particularly extraordinary place to find honest customer reviews.
Your competitors
Learn from the successes of popular businesses or your competitors in your chosen industry. Which products have they launched with the most achievement? For what reason would they say they were so fruitful? Sometimes, brands share the how and why behind new products.
Beyond your competitors’ products, examine their community. Who is their audience and for what reason do they cherish those products? Identify gaps in your competitors’ product offerings and search for ways to fill those gaps with your new product.
Conclusion
Now you’re furnished with resources to enable you to come up with an incredible list of initial product ideas to begin. Next up, we’ll share some intriguing product thoughts with you.
Keep the journey going by pursuing our article on the relevant topic: 10 Interesting Product Ideas Trending Right Now.
