In this day and age starting an online business is very easy and convenient. You can start a business from anywhere in the world. You can start anything from affiliate marketing, ecommerce, CPA marketing, youtube or Instagram influencer. There are many ways you can make a living and earn money from anywhere in the world.
One of the best opportunity that is booming online is ecommerce. You can leverage start your own store in Shopify and do dropshipping or you can leverage the big platforms for your advantage to sell products online such as Amazon FBA, eBay or Etsy. it’s all about what you feel comfortable with.
In this article I will talk more about Amazon FBA and how you can find profitable products to sell in Amazon. Amazon has a huge opportunity since it’s growing market and you can easily cash in if you can find the right product and service to sell. In this article I will focus on teaching you, how you can use softwares to find products that you can sell in profit to make money with Amazon FBA.
Intro to Jungle Scout:
Jungle Scout is by far the most important tool that will give you insight about products being sold at Amazon. Many new sellers make the mistake of taking stabs in the dark. They tend to buy things based solely on gut feeling. This is a big time mistake and it’s easily avoidable. You have no idea what is selling without proper data. Just because you think something is popular isn’t a good benchmark.
You need to be able to see how many units of any particular item are being sold during a specific time period. Data is your friend when it comes to making money on Amazon. Without it, you might as well just play the lottery and hope to get lucky. There are two things that you must buy before using this service. The first is the Jungle Scout Web Application. This is a web based service that we’ll talk about now. The other is the Jungle Scout Chrome Extension. We’ll talk about that a little later.
The web application costs $39.99 a month and the extension is a one time fee of $97. You can cancel the web application during the time when you’re not looking for new products. Some sellers can go for months without searching for a new product. If this describes you, then there’s no need to pay for the service if you’re not going to use it.
Jungle Scout Web App Features:
Jungle Scout Web app is the most useful tool that you need to get if you want to be successful fast with Amazon. It spits out all the important starts that you need know about before deciding to sell that product in amazon.
Jungle Scout Product Database:
The most important portion of the Jungle Scout webapp is product database, which holds records for millions of amazon products. You will be able find the product ranking to sales data and whether the product has potential market you can tap into.
The most useful tool of the web application is being able to find products that sell, but have a room for improvement. You can search for items that sell well, but have a rating of three stars or less. This data is useful because it means that these items are selling pretty good. It also tells you that people aren’t really satisfied with the product. That means you can go in there and sell a better product. Customers pay close attention to reviews and this is a key area where you can out perform your competition.
Keep in mind, you are not in amazon to reinvent the wheel. What you want to do is find product that is selling well and also there is room improvement where you can come in and full fill the gap between the customer and the product.
Jungle Scout Product Tracker:
It tracks products. It takes about 48 hours for it to collect information. This information is useful because it will help you determine how many were sold. You don’t want to try to sell a product that’s not flying off the shelves. Not only can you track the product, you’ll be able to get all kinds of information.
This information includes: Fees, product category, number of sellers, number of reviews, and so on. This will give you the ability to “spy on” your competition. It’ll give you priceless information about how well a product sells. This is will play a vital role in your decision to sell a similar product or not.
Product Database and Niche Hunter:
These are two different tools, but they go together hand in hand. We could write an entire book on the importance of these two tools and not even scratch the surface. There’s one exciting aspect of niche hunter that we’ll talk about more in-depth. There are quite a few items on Amazon that sell great. They may have fifty sales per day or more. At face value this looks like a fantastic item to sell. When you dig deeper, you can realize that not as many are being sold as you may think. What a minute, but the top two positions are selling at least fifty or more products every day. That’s pretty good. Isn’t it?
Niche hunter’s real value isn’t in telling you how many the top spots are selling each day. The real goldmine is found in the data about the other positions. If all the other sellers on the first page aren’t selling, then you won’t either. There are items where only the first two spots sell. The rest of them make very few sales at all. You more than likely aren’t going to be able to crack the top spots for a particular item that sells very well. Not unless you’ve got plenty of cash to spend on advertising and creating a better product.
What you’re trying to find are products that have a good amount of daily sales volume throughout the first page. Sure, the items listed on the bottom of the page will sell less. But, they still should be selling at least ten units per day. If they aren’t, then you’re not going to be able to compete in this niche. This is the sort of data that will make or break a product. You could easily lose your money by not understanding how many items the other listings on the first page is selling.
Jungle Scout Chrome Extension:
Let’s turn our attention now to the Chrome extension. This really is a must have piece of software. Yes, it is software. It can be easy to see it as just a browser extension like all the others you use. However, this is powerful software that is a must have.
There are very few tools that can literally make or break your Amazon business. This is one of them. You can skip some tools and maybe be you can be successful. This isn’t one of them.
Jungle Scout Chrome Extension is a market validating tool. You can use the extension while searching for product ideas Amazon. This means you’ll actually use it in the “wild” so to speak. You’ll be able to get statical information about items that you’ve searched for. All you do is search Amazon like you normally would do. Then, you click on the extension and it’ll process the search results. It takes just a few moments to pull up all kinds of precious information.
Let’s take a more in-depth look at some of the features the extension has. The first thing that it tells you is the average amount of monthly sales. You can then divide the number by 30 and that will spit out the average daily sales. Basically, anything over 300 is 10 sales a day. You want something that sells at least this number. The next item of importance is the average price. This too is important because you want items that sell for at least $15 dollars. This will give you enough room to advertise.
You will have to delete some of the items listed in the extension. For example, there may be packs or bundles of multiple items. You may stumble upon an item listed that isn’t exactly what you’re thinking about selling. After you get rid of all the undesired results, you’ll be left with what your competition will be. The average number of sales and price will change after doing this. You want to weed through the results to give the most accurate information. It’s during this research phase that you’ll determine if a product is profitable or not.
Conclusion of the overview of Jungle Scout:
At first it may seem like Jungle Scout throws at you a lot of information. It honestly does. It’s not an overload of information. There will come a point when searching for products to sell that it becomes second nature to you. You’ll use the web app and extension without event thinking twice about it. It will literally be an extension of yourself and it’ll function that way. The reason why it won’t feel that way right away is because you’ll have to get used to all of the functions and features.
Products to sell on Amazon don’t just jump right out at you. If it were only that easy. You’ve got to spend plenty of time searching for the right products. It can take hours or even days to find the right items to sell. While there is no shortcut when it comes to finding products, information plays a pivotal part of the decision. Jungle Scout provides you this information in a way that’s quick and easy to read. You’ll be able to go from product to product without wasting much time. This is key to finding something that has potential. You will have to bounce around from item to item to find one that has profit potential.
The information you gather from Jungle Scout will help you determine which products to try to source. That is the next step after collecting and reviewing all of the data. You’ll make a determination what to sell based upon it. You will know how many units are sold every month and the price. This information will be used when you determine who is best suited to supply your products. Without this information, you would not know the profit margin or amount of sales to expect. Two key factors in determining if an item is worth the investment of both time and money to pursuit.