Choose a Market First

In determining what to sell, people tend to start brainstorming on individual products.  Not necessarily a bad thing to do – in fact, in the next few posts, we are going to talk about different ways to drum up product ideas from the world around you. 

However, let me give you some food for thought that might help you to really nail down ideas that can help you build a viable and successful eCommerce business:

Choose a Market First

Instead of choosing a product, choose a target market.  You might start with a couple of product ideas, but then take those ideas to the next level and think about the market you will be selling to. 

By market, I mean the demographic that will be interested in your products.  In my case, my market is RC car enthusiasts.  But yours might be young stay at home mothers, golfers, cyclists, etc.  The list is endless but I strongly suggest that you try narrow down a smaller niche.  For example, golfers is a huge market and it can be daunting to try and understand and market to all of the niches in that market – you might want to focus on beginner golfers or young female golfers or maybe children golfers (well, their parents, really).

Understand Their Needs and Desires

The reason for selecting a market first is that you can study them and dermine their needs and desires which will lead you to think of products and services that will fill those needs and satisfy those desires.  Rather than thinking of products first and then trying to figure out if there is any demand – think of the market first and see what they are demanding! 

It’s Okay to Move Out of Your Comfort Zone

Similar to our last discussion on passion vs. profit, you can choose a market that you are deeply familiar with or one that you need to learn about.  I’ve done both and yes, it is easier to market to a group that is similar to you – you already understand their needs, they are easier to “speak” to and they will readily identify with you. 

But don’t limit yourself, there are so many profitable markets out there you may miss out on if you only focus on your comfort zone.  Plus, in my case, focusing on a different demographic has allowed me to work closely with my husband to get to know his mindset and passion for the hobby – and that has been alot of fun and very rewarding.

Connect With Your Market

The bottom line is that if you choose your market and research them thoroughly, you will not only be better equipped to choose products that will truly appeal to them, you will be ready to connect with them in many different ways which will lead to good customer relationships and SALES!