Good products can be difficult to find for both beginners and experienced dropshippers. That’s why it’s essential to have a strategy and learn all you can about how you can find the best dropshipping products.
What is a winning product? How can you spot one? Where do you look for them?
In this next article, we will take on every single of these questions and give you our recommendations. And we hope, as you finish it, you will learn all about what defines great dropshipping products.
What is a winning dropshipping product?
Now, it’s important to know what exactly defines a winning product. Well, as you would expect, winning products are your best selling ones, the ones that sell in a day or even less. Products that your customers love and keep on asking you when they come back in stock are your winning products.
Now, let’s go into what you need to look for in a product in order to spot if it’s a winning one.
How do you know you’ve found a winning product?
Below we’ve put together a list of ways, you can also call it a guide, that will help you spot the winning product.
Look for the “wow” factor
Well, this one may sound easy but in fact, it’s quite hard to find a “wow” product these days. You need to look for unique, amazing products, the ones that will just make your customers exclaim: Wow! Where can I find this product? Why haven’t I seen something like this before? I want one now!
When you get these remarks from a customer or a prospect, then you have found the wow factor product.
Hard to find products
Again, sounds simple, but trust us it’s not. It’s hard to find a new product or one that you can’t find so easily on other online or physical stores.
Hard-to-find products are the ones you don’t normally find in a retail store or in their area. In most of these cases, a customer is willing to pay more for shipping and is willing even to wait a bit longer for their orders.
To give you an example, think of innovative, new electronics. There are many products like that that people can’t find in a normal electronics store. Or think of unique handmade bags or jewelry, again many people would want to pay for a one-of-a-kind backpack or ring.
The idea is to find a unique selling point for your products, something that will make them stand out in the crowd.
Good profit margins
One way to spot out a winning product is to check if that product has a profit margin high enough that it can cover the cost of goods and advertising.
So, be extra careful when calculating the total price and if it’s in line with its perceived value, all is good.
The bottom line is: if your product won’t have good profit margins, then it’s not the one for you.
For example, try to find a product that costs at least $20 (or $19.95) with a 2.5x – 3x markup. So, if your shipping fees are $8 and you can sell that product for a total price of $24.95, then you can get a 3x markup.
A product that solves a problem
The wow factor and the hard-to-find products can also solve a problem. One of the most important qualities of a winning dropshipping product should be this, to solve a problem.
People will always opt for products that make their life easier and help them save time and energy. When you find such a product, then you have found a winning one.
This is also one way you can find the best dropshipping niches, have a look at our article for more about this.
No advertising restrictions
You have to think about advertising even before choosing a product, as this will probably bring you the most customers.
So, don’t forget to check Google and Facebook terms and ad policies, for example, before making any decision. That way you can find which products you are not allowed to advertise on these two major ad platforms. For example, it’s well known that you can’t have ads for tobacco products, adult content, or face masks on both.
Also, stay away from products that could get you into legal or financial problems in the future.
Read this well-researched article on this
What’s the competition
This is for when you know your niche or what type of online store you want to have. If, let’s say you want to open a bag store where you sell only unique handmade products, then checking on your competition is definitely worth it.
So, find successful ecommerce stores like yours and see what their product range is and if they have some sort of best sellers page. And even if you want to sell different types of bags, you still can learn a lot from their success story.
How is your competition advertising their products, which products do they highlight more, which social media platform they are most successful on, do they have a blog, and what are their most-read articles?
You can learn so much by just analyzing your competition, from which products to sell to marketing and advertising them.
Let’s say that now you have made up your mind and know a bit of what you want to sell.
Your next question would be: where can you find these products?
AppScenic can be a great dropshipping platform if you want to sell unique, high-quality products from over 100 categories. All our products come from top suppliers located all around the world. You can start today to browse easily through all our categories and find new hot products.
If you want to give AppSceni a try, you can register for free here.
Another way to find products is by checking big ecommerce platforms like Wish, Amazon or eBay.
Searching on social media can also be a good starting point. Search for groups on Facebook that may be interested in your products and see what they talk about. What type of problem can you fill with your products? Maybe they want better shipping prices or are always waiting too long for an order to get to them.
On Instagram, you can follow influencers that have your exact audience. You can check what they are advertising or posting on their page. Read the comments to the posts you are interested in and see what you can learn about your audience.
Now, keep in mind that after you decide on a product, you then need to build up an attractive, user-friendly online store. Then, you have to advertise it in such a way that you can get the right people to click on your ad and get to your store.
So, to finish off, finding a great product to sell it’s only the beginning. But if it’s a winning product it will definitely put you on the right track.