When you talk about the 80/20 rule with how to be successful on Amazon, most of your success is going to be determined by which product(s) you choose to launch.
It’s very common for successful Amazon sellers to have gone through the whole process of product attempts/ launches before they find out if the product is successful. We’ve found that for every 8 products a company tries to sell on Amazon, one product out of the bunch would really take off and pay for the whole effort. That being said, your passion for a product isn’t going to determine its success on Amazon.
Product launching successfully is really about doing it in such a way that it’s sustainable and repeatable.
When choosing a product, think about what’s going to have high demand but reasonably low supply. For example - a product category doing really well right now is truck bed accessories and there’s a subcategory that is blowing up for Ford F150 truck bed accessories which are generating thousands of dollars in revenue.
You can use things like Jungle Scout or Helium10 and get a lot of Amazon selling details to understand some competitive research about product categories and find out the supply/ demand of these categories to show you where there is a gap in the market.
The other way you can approach which product to launch is a product that has a visual distinction from the rest of the products on the market - for example, a different-looking bike helmet compared to 98% of bike helmet shapes. This draws lots of attention to stand out from competitors.
In the short term, you need to compete on price. If you have low brand awareness, you need to compete on price and have a product listing that really shows off the product with the right copy and the right product images and videos.
Stay tuned for the other Amazon podcasts within our next series of episodes for more advanced discussions!
Check out part 1
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