How to Find WINNING Products for Shopify Dropshipping: The Complete Product Research Guide (2020)
You could have the prettiest, store, and know how to make the most eye-catching, ads but if you don't have a product, that people actually want to buy then you're not going to be able to create, a profitable, drop shipping store, so in this video i'm going to be teaching you how to find winning products for your shopify, store, as well as how to do product research, and validate, different products to sell, so you can have a profitable, store now we're going to be going over a lot of different tools, websites, and strategies, but there's four main topics we're going to be covering, i'm going to be leaving, all the time stamps in the description so you can find exactly what you're looking for, but basically we're going to be looking at how you should actually think about products, when you're analyzing, them and the right mindset to have in order to find profitable, products, we're then going to be talking about ways to actually. Find trends if you have no idea, where to start. And then the first main approach we're going to be looking at, is how to find products on supplier, websites. And value, validate, those products, using social media. And then we're going to flip it around, and look at how to find winning products, through social media, and validate, those products. Through supplier, websites. And all i ask is that you leave a like down below, if you find this video helpful, and with that being said, let's get. Started. So the first thing we're going to be talking about is having the right mindset, when you're looking for products to sell, i think people fall into this trap too often, where they try to sell. And have their products priced, through cost-based, pricing. If you think purely cost-based, you're going to be leaving a lot of money on the table if you think okay this product, is going to cost me 50. And i'm going to sell it at a 20, markup.
Sure You're going to be able to make 10. But you're leaving so much money behind, if you're selling a product for under 50. Ideally, you want to mark it up at least two times, to 2.5. Times, the cost of the product, and if it's anything more than 50. You want to at least mark it up two times, because chances, are you're not going to be spending more than thirty dollars on ads and five to ten dollars on shipping, and you can still realize, a nice margin, but the only way you can find products that you can mark up so much, is if you, if you actually. Have a value-based. Pricing approach, so instead of thinking how much of a margin can i apply to this product, you want to look at products and think of them, as, how much value can this product, provide, to my customer. Because once you have a value-based, pricing approach, the amount, of value, can be a lot greater, and you can charge a lot more so let's apply this concept, of cost based versus value based pricing, with something as simple as a shoe rack, a shoe rack might cost a dollar to make because it's a piece of plastic. And so if you were taking a cost based approach, you might think about selling it for two to three dollars because you'll still be making double to triple, your, initial, cost. Except, you have to think about of the value that a shoe rack actually provides. If you have a shoe rack it means you can keep your shoes organized. It can also prevent your floors from getting dirty, and if your floors got dirty, it would cost you maybe twenty to thirty dollars to fix it and so this shoe rack is preventing that from happening, maybe three to four times which is why a shoe rack could cost you know forty to sixty dollars because, 40 to 60 dollars, is, cheaper than the cost of cleaning, your, floor multiple, times, and that is the value, the shoe rack is providing, you know the the organization. The ability to have multiple shoes stacked up in safe space, as well as not getting your floor dirty, is worth way more to a customer, than two to three dollars which is what you would have charged if you took a cost based approach, and this is just a really quick way to filter out a lot of products you look at because if a product doesn't solve a problem, then you can't have a value-based, pricing approach, and this will just make your search a lot more targeted, now let's get into doing actual product research, if you're someone who has never.
Looked For a product before and you don't know where to start, the first thing you can do is just look at what's trending. And, chances are you already have an idea what's trending. If you're on social media but if you don't you could go on something like twitter, and even just look at the hashtags, and see if there's any product ideas, that these hashtags, can give you now one site that i really like to use is exploding, topics. And, this video is not sponsored by them or anything but they also have a newsletter. And basically they just aggregate. Different topics that they see, are trending at the micro level, so you can actually catch the wave. Before. The product itself, blows, up and with exploding, topics you can also sort it by time, and category, so for example, if i want to see something that's trending in the last month, and is in, fashion. I can just take a look. And. As you can see designer, masks, are trending which makes a lot of sense, so this is a product idea that i can look further into, and a couple other ways to quickly validate, products without doing in-depth research, and just looking at it at a high level, is by using google trends as well, so i can look up designer, mask for example and just see if it's been trending. And as we can see. It it started trending in march and there's still some demand for it, and, it is it is something that people are still searching, and i quickly validated, it through google trends, now. What you usually want to do is find a product that's just starting to pick up because, once you have your store and ad set up you then have a bunch of time left to actually test the product, and catch the wave. Now sometimes you're going to find a product that's going up and it's at the stagnation, phase. If a product is at the stagnation, phase what i would do is i would actually just look at the orders on aliexpress, which is what we're going to be covering later on as well as look at social media sites to validate the product, but. If a product is stagnating, it doesn't mean you don't want to sell it, because there's still a lot of money, left on the table that you could capitalize, on, so you just have to do additional, research if it's not something that's just starting to, actually pick up on traction. And then the third way you can quickly validate. Different ideas, or just look at a high level is by using the google. Keyword planner, so with the google keyword planner you can also just test out random ideas that you have that you found on trending. And see if there's demand for them based off the google searches. Which is really really helpful, and one special thing about google keyword planner, is if you're planning to actually put your advertisements. On google, instead of facebook. You can see the cost, of the lower end of the bid range and the higher end so you can see how much it costs to actually have your website on the top of google, and you can take the average and you can actually use that to kind of calculate. What your margins would be if you were to price at different points, so the combination, of exploding, topics, google trends, and google, keyword planner is a great way to start, if you don't know where exactly, to begin, now we're going to be looking at how to do product research from a supplier, side approach, so the goal here is to look at different supplier, sites, and see what the demand, is based off order quantities. And from here we can actually find products that people are buying, and if a lot of people are buying it from these, you know wholesale websites we know that they're selling them somewhere else which signals, that there's demand for these products and then we're going to be validating, these products, through looking at the social media campaigns, and then afterwards we're going to switch it and do research. By looking at social media sites, so when it comes to looking at suppliers. You don't have to actually purchase the product, from the supplier, site you're actually doing the research from, so for example we're going to be looking at aliexpress, later on but obviously there's a lot of issues right now with shipping. As well as like logistics. In terms of shipping from china so you can use aliexpress, or these sites to see the quantities, but once you find a product, there's a ton of different options you can actually, you know go to in terms of selling the product itself, which we're going to be diving into later on.
So The two main sites i used to do product research from the supplier, side, is spock it, as well as aliexpress. Now spock it is a great place to, think of products that you want to sell because, all of these products, have suppliers. Come from suppliers, in different countries, and you can also sort from them accordingly. And when you're using spocket, to do your product research, once you find a product that you like you can once again validate, it with google trends and google keyword planner, spock it is great because it has a variety of different products you can find that you can sell on your store and it's a great place to find ideas and then you can automatically. Import these products, onto your drop shipping store, so if you're looking for a supplier, site that has a lot of great products, from the us, or europe, i would highly recommend spock it now another great place to find products, is the aliexpress. Drop shipping center, so here we can do is we can just, search for any product that we want, and one product that i was looking at recently that we can walk through as an example. Is laptop stands, so if i just search for laptop, stands in the drop shipping center. It'll come up with a bunch of different products. And then we can sort them by orders, in all countries. And we can take a look at the different orders. Now. Here you can see. What the orders, are as well as you know the product rating and the sales performance. Uh you want to ignore this column for now just because drop shipping orders they're still working towards. But for example we can do is we can find a stand that looks really cool. And this one looks good so we can do is we can click on analyze. And, you can see from the supplier, side how the orders have been over the last. Few weeks the last few months, so we can see that over the last two weeks someone, ordered. 100 of them and then the order quantity, has gone down, now this chart doesn't give us as much data as we want so once you find a product that's interesting. Through the drop shipping center, i would actually click on that product. And then i would go on the product page, and i would take a note of how many products how many items have been sold, in the last week, so we can see that in the last week there's been about, 150. Sold. But the total orders, are 7. 877.. So what this tells me is that this product probably used to sell really well but it's kind of died off and not many people are buying it anymore, one rule of thumb i like to follow is, you wanna have, at least, five percent of all orders. Have been done in the last week to show that it's a product that's still being sold, so we know that about a hundred. We'll say 120. Of these were sold in the last week and they've sold a total of 7 800. Which is only 1.5. Of all sales, so we know it's kind of at the tail end of its curve, and we can once again verify this by going into google trends, so if we go to the past 12 months we can see that, you know once everyone started being inside. The demand, shot up and now the demands kind of gone down. And that's also apparent in the orders, so what we can do now is we can walk through an example. Of a product that might be doing really well and it's something we could possibly sell on our store, so if we just open up the drop shippers, the drop shipper center it actually shows us products that are, organized, by, you know the ones that aliexpress. Deems as hot selling so, for example we can look at this, non-contact. Infrared. Temperature, thermometer. Which makes sense that is a hot product right now, we can see that. If we go into analyze. Over here, that in the last week there's actually been about, so 160. 200. 300. 380. About, like, in the last week maybe like 400, to 450. Units sold, and if we go on the actual, product page over here, we can see they've had about, 5, 900 orders, so if we were to do 4, 450. Over 5, 900. Some rough math we can see that in the last, week. They've sold about seven percent of like the last week makes up seven percent of their total orders which means that this is a product that they've recently started selling a lot so we know that from a supplier, side this is a product a lot of people are ordering, through a wholesale, website and this is something we can potentially, sell, and this product also meets our initial criteria. This product solves a problem. It the problem it's solving, is that it's allowing people to realize, if they, are in a situation, where they should be getting tested for coronavirus. And for a lot of people the cost of actually contracting, it, and being able to mitigate it is way more than 10 to 20 dollars, if you were to look up the cost of like infrared thermometers. So we can see this product is selling from 60 to 150. So it's selling at way more than 2.5, times the cost and this is because it's solving a problem.
And You know it's providing a lot of value to its consumers, so it checks off that box as well and this is definitely a product we can sell, now one more thing to keep in mind is if you find a product on a certain supplier, website it doesn't mean you have to sell it through that website, so we found this product, through aliexpress. But that doesn't mean we have to sell it, directly from aliexpress, and drop ship it from the site because we know that, if it was to ship from china it could take a really long time now this product actually has the option, to ship from the united states as well which, helps us because right now shipping times are very long and expensive, but you can also use other sites, such as cj, drop shipping, which has warehouses, in different countries. Or what you can also do. Is you can, if you validate this product and you test it out and people are buying it, you can ship it to fulfillment, centers in the united states or other countries, and then have it shipped from the fulfillment, centers. To, your customers. Now i would only recommend doing this once you've tested your product out and you can see there's clear demand for it but you could use a website such as shipbob. Or flowship, and ship, large quantities, to these centers. And then you'll be able to cut down shipping times but it's just something to keep in the back of your mind, so what we've done right now is we found a product, on the supplier, side, and the next thing to do is if you're looking at a product you can see there's a lot of orders, you can quickly validate, it by looking at social media. So if we go on facebook for example, what we can do is we can, go and search for the product you want to validate, so one example we looked at earlier, was the laptop stand, and remember. We talked about it and we said it wasn't a good product because. People, there was a lot of demand for it earlier, but there's not as much demand right now and we can confirm this by going on facebook. And just looking at videos. And if you go to videos that were posted, like.
At Any given date we can see there was, a video in 2017. That had 1.1, million views, which isn't an ad so, let's find an ad this was an ad that was made more than a month ago. And it's for a laptop, stand and we can see there was a lot of engagement, there was, 600, comments. And there was 3 000 reactions, so this. This advertisement, did really well this person probably made a lot of money from the product, but if we go back and we sort by. Ads that were made in the last week. So facebook can't find any if you go into the last month, we're going to probably see some advertisements. But they're probably not doing as well so for example the highest viewed one from the last week, has, a fifth of the views as the one made over a month ago so we know that, people aren't testing this product as much and if you look at the actual comments, like, there's only 14 comments on it so you can see the interest, has gone down, on this product, and if you want to quickly validate. A product through social media, you'd want to find more advertisements, that were being made recently, that have more views and more reactions. Because that means that people are actively selling this product which is not the case. But that's kind of the first approach it's looking at different supplier, websites, such as aldexpress, and the drop shipping center. Finding, products, on these sites that you like based off, the actual. Analysis, and orders and what percent they make up, and then once you find a product you can find the same product, on different. Supplier, websites. And once you find that product that solves a problem, you can validate it to see if there's actually ads that other people, have put up to make sure that this is a product that you know people are interested, in so that is the first approach, so now we're going to be looking at the flip side we're going to be finding products through social media, and we're going to be finding, ads that people are making, and we're going to be seeing if those ads are doing well, and if we find products we like through social media, we're going to be validating, them through the supplier, site so it's kind of the reverse. Now there's a lot of ways to find different ads, you may have heard of you know plugins such as turbo ad finder where you can, scroll through facebook and only see the ads, some people might suggest you go on facebook and instagram, directly, and you follow a bunch of theme pages, and see what they're posting, now these are all great ideas, but in my opinion, they're all fairly inefficient. And the fastest, way i've been able to go through a bunch of ads at once, on social media is through a website, called ad spy, and right now i don't have a plan or anything so, i'm, going to link it down below but basically, what ad spy lets you do is filter for all of the ads, that are being posted, on facebook and instagram. And it makes it really really easy to find shopify, ads which is what i'm going to show you, so right now i have, ad spy, opened up, and i'm looking for ads, that were created, in the last week.
I Wanted them to have at least 300, total likes so we can spell, filter out for all the spam. And the site type is instagram. And here's the coolest thing so in terms of technologies. I filtered, it so that, the websites, that have these ads, all lead to shopify, websites, which is why it's so much more efficient to use this because, you can automatically, find the sites that are using the shopify, platform, which are most likely drop shipping, so once i ran this uh query basically you can see, all of the ads. That ad spy has aggregated. And we can find a bunch of products like i didn't even know these like folding, glasses. Actually, existed, but, you know you see a lot of items you might not have thought of before like this, this basin, for example. And we can just keep scrolling, down. So for example, this one, right here, is the led lights which is a product we can look into, so if we were interested, in, seeing if this product is something we should sell we already know there's an ad for it and we could do is we could go back into facebook. And filter through the videos again to see how many recent ads there are, and then what we can also do is go back into google trends, and see if this product has been trending. Now led lights haven't been trending in the last 90 days but they've consistently, been at the top which means this is pro this is probably a product that, if you advertise, it right it can, consistently. Sell. And once we validate, it on the social media side, we can now go back and check it against the supplier, side, which we've already done earlier, so we know that all we have to do is go to the drop shipping center, and we can look up led, lights. And then we'll find the lights we're looking for, we can click on the analyze, tool and see how many have sold in the last week. So on average i would say there's about like 80 sold per day. In the last week so, 80 times. 7 is about 560. We can round it down to like 500. Of them sold in the last week, and if we go on the actual, product page, we can see they've sold.
6. 700, of them. And this product also meets our basic requirement. It solves a problem, it solves a problem of a room, not being well lit or a room not being decorated. Well enough and you know, this. Will add value to people that want to decorate their room or they need some sort of lights. And for me for example i have a light in the back and this light, has, been seen by like hundreds of thousands of people, and it's made the background look much better so for me it has more value, than the actual price of you know seven to thirty three dollars. So we can do is we can take the weekly orders, and we can divide it by the total orders, so we set about 500. Over, 6700. So we can just type that out, and we can see that. In the last week, you know seven percent, seven percent of orders, came in the last week so this is a product that's been selling a lot recently. So to walk you through the process, we started off by looking on social media, we found a product we liked, we wanted to see if it was something people were searching for which it was we could have also used the keyword, planner. And then we tried to find the product on aliexpress. To see how many orders have actually been done and we were able to see that you know a lot of orders were done in the last week so this is this is a good product, that if positioned correctly, we could sell it and we could further validate it by going on facebook. And looking for facebook ads. Or what we could have also done is gone on other supplier, sites, and then finally, one more site you can use to also look at ads, this is more targeted towards certain brands, is the facebook ad library, so facebook makes public what companies, are posting advertisements. So it's very easy to find advertisements. Here i have search. Led, light we can see. How people are targeting, you know their ads so this ad, is being targeted towards you know a million people. Now this tool is more powerful, if you want to find a certain company. So for example, we know that like if we look at blend yet. We can see. We can see their facebook page and once we click on it we can actually see every single ad they're running so if you notice a company, that does ddc, for example like blendjet. Running a ton of ads, you know that this is a peak you know busy season for them and you can use this to you know find products that are, interesting, and, are having a lot of ads created about them but you can also find ways to, make, different creatives, because you can see the kind of advertising.
Techniques, These companies are using, so this was just one more resource i wanted to share but hopefully. This video helps you better understand, how to do product research, the end goal is to help you guys determine. What the actual process, is and you know there's so many different ways you can actually, find products that you can sell that'll do really well now once you find products that you want to test make sure to spend a week actually testing them before you put in a bunch of money, and i would also make a quick note to stay away from like, different, sites that. Tell you that they're going to help you find the best drop shipping products, the reason, these sites aren't the best is because there's thousands of people on them so, if you use these sites that's great but a thousand, other people using the same site means a product is going to get saturated. Very fast, additionally, these sites usually use automated, web scrapers. So if they're using scrapers, it means they're not. First of all they're not counting all the variables. Such as you know if the product actually solves a problem or not but second of all since they're using, you know. Previous historical, data, by the time the product makes the website. It could be too late to actually sell that product since they're scraping, you know data from tons and tons of weeks ago, so i would stay away from those sites because you can do the research yourself. Usually, faster, usually find better products, and usually, they're not as saturated. And it's free so that's kind of my take on that but that's about it for this video, hopefully you guys did enjoy it if you did, be sure to give this video a big thumbs up and as always thanks for watching, my name is iovo, and i'm signing out.
2020-08-12 06:13
