How to find winning products for a lot of people finding winning products is a complete mystery. But today we’re, going to be going step by step and we’re, going to take you from product less to load it up with products for you to test that rhymed.
That was not supposed to rhyme, but it did. I’ll. Give you the template that i use personally inside of my agency to keep track of the products that i’m going to test and the ones that i’ve already tested don’t want to be testing the same Products twice, i promise you, i’ll, give you some of the specific metrics that we look for and at the end of this, we’ll, tie it all, together with a couple of different strategies that you can use to find these Products and use that template in those metrics and find some winning products.
So the very first thing that you’re going to want to do is log into a gmail account. If you don’t, have one just make one. It takes like three seconds, but after that you’ll, be able to hit this file button right over here and then press make a copy.
This makes a copy of the sheet for you to personally use. If you request access, i’m, not gonna be able to give it to you, because then you might make adjustments and everybody’s. Gon na see your products, so just go ahead and make a copy for you to use.
Personally, this is what the sheet is going to look like it’s, important to stay organized with all of the different products that you’re. Looking to test, if there’s, one thing that i learned in drop shipping it’s, that not all products are created equal as much as i love every single product.
Some of them are just better than others. So, to start at the bottom, here we have our product guidelines. This is just a quick, cliff notes on what exactly we’re looking for, we’ll cover that in a second here we have the new products.
Whenever you’re doing product research, you’re, going to add it to this column or this tab right here. Whenever you test a product or whenever you’re thinking about testing a product, you’ll transfer that column from new products to products worth testing again organization systems.
These are all important. These matter right over here once you have already tested a product or you decide. You know what this product isn’t as good as i thought you’re gonna put it in this column. Here that way, you just don’t continuously, add the same ones over and over again, and just waste time now hold on.
I’m sure you’re thinking. Okay, jonathan, if i didn’t think that a product was worth testing. Why would i add it to this sheet? Well, that’s, a great question. Whenever you are doing product research, i try not to judge products if i think a product is cool.
If it’s unique and it meets some of these product guidelines, we’re talking about in a second, then i’m gonna go ahead and add it to the product research list after i have had a day Or two i do a little bit more research on the product.
Then i’ll, go ahead and make my final decision, but i don’t do it beforehand, because then we might miss out on some potential bangers dog toy. Let me go ahead and pull up a quick example, and i’ll. Show you exactly how to get this sheet rolling say we were selling this dog toy right here, which, if you end up seeing the product guidelines.
This is not something i would sell and i’ll. Tell you why in a second but say this is the product that you said, you know what i’m, not judging this product, i don’t really care. I just want to see: maybe it’s, a winner.
What you’re going to do is the very first thing is you’re going to put in the product name now, do not copy and paste this entire thing. Just put in a section of the name, so here i’m, just going to say dog toy and then in parentheses i’m, just going to put rope because that’s, something that i will remember it as you’ll, put in whatever you’ll! Remember it as now! Next we’re, going to do the product cost of goods, which here is 64 cents 64 cents over.
Here we’re going to copy the url. We’re just going to toss that right in there. The reason i did the product cost of goods first and then the url is because, if you just paste the url it’s going to fill up all of these columns and just be kind of confusing.
So i like doing the product cost first. Next, we’re going to put in the shipping cost. This is something that is really easy to forget, but it definitely matters what you’re going to do. Is you’re, going to look down here and see what different shipping methods they have now? Of course, we want a good shipping method that is going to get to our customers quickly, so it’s currently may 5th.
This says that this will get here on june 23rd if we use yan when economic mail, i personally wouldn’t use that i would use something that’s, going to get to them a little bit faster, which here there’s not too many options.
It looks like the best option is probably going to be e packet, which is pretty typical uh, that’s, going to be 1.99, so we’re, going to go ahead and take into account that price right there 1.99 and then this Here is going to automatically populate with the cost of goods, so that is our total cost of goods right there.
Here we’re, going to put our estimated sale price. This could just purely be a guess. If you want, i personally would go and try to find some competitors. So if you go on over to the aliexpress listing right here got this cute little dog, you right click this image and you press search google for image.
This is going to pull up a bunch of other competitors that are selling this same exact product. Once you go through here, you can look and see how much walmart is selling this product, for this will give us an accurate idea of how much this product is.
Actually worth say, you do a little bit of research and you figure out that you could sell this for 19.99 as soon as you put in this estimated sale price, it’ll automatically populate with the estimated profit margin, which is perfect.
It’s, either going to be a red box or a green box. We’ll cover. Why that’s happening once we get to the product guidelines. Next, we’re gonna go ahead and put the niche here. We’re, just gonna do pet toys as the niche or you could just say pet, whatever, whatever floats your boat now, if you ended up finding a competitor link whenever you’re looking for that estimated sale price, you’re gonna go ahead and put in that competitor link right here.
Of course, you would actually copy and paste that in whenever you find their link, the last box that we’re going to have here is either tested, yes or no. If you just found this product, of course, it’s going to be no, but once you start testing some of these products, you’re, going to copy and paste.
This say this ends up being something that you think is worth testing. You’re, going to copy and paste that in right here and you’re going to get it get rid of it on the new columns tab. So you’re, just going to highlight all of these rows and then just delete it.
Now you have it in the products worth testing. This is one of the products that you’re going to test next now say you ended up testing this product and you thought okay, this product is not as good as i thought it was going to be what you’re, going To do is you’re, going to move it from the products worth testing to the not worth testing or already tested column, so you’ll, just paste that in here and once it is in this column.
Here that says not worth testing or tested, you’re, just going to switch it from not tested to yes, and i always prefer to go through and make notes on why that product test didn’t work. So if you watch this youtube, video up here, you’ll, know how to audit and make adjustments to your ad campaigns, something that will start to happen.
As you start to run through more and more product tests. Is you’ll start to see some consistencies? Maybe every single time you run a product test, your click-through rate is really bad. You know that you need to make some adjustments to your ad creative.
So here you could just say bad ctr, and then i would put what that ctr is. So we’ll just say it was point zero, two percent, which is which is really really bad. But as you start to make these notes, you’re collecting data on yourself and then you could look back on the data that you have and say man over the last five product tests that i’ve.
Had all of my ctrs have been bad? Maybe i’m, making a mistake there, and then you could go in hone in on that skill, a little bit more and then increase your overall performance for each product that you test.
Now that’s, the entire product sheet, now let’s. Talk about the metrics that we look for whenever i am personally going through and doing my product research there’s, really three things that i look for by the way my instagram’s down here.
If you want to drop me a follow, feel free to reach out. I would love to communicate with you guys, but that’s. A side note number one is going to be a unique value proposition. Does this product have a unique attribute that solves a problem for the customer there’s tons of products out there that don’t solve problems for people, but the majority do and honestly it matters a lot more on how you angle, The product so shoes, typically isn’t going to be a problem-solving product, but if you think about maybe that it’s really light or that it’s good.
In certain circumstances, you could frame that product as being something that is a problem-solving product. It’s, really going to be based on the marketing angle. Here, as long as it has a unique value proposition, then it’s, going to move to the next column, which is going to be.
Does it have a breakeven point over 20? Now, if you’re, not sure about this right out of the gate, whenever you put your product in here, this sheet will tell you whether or not it has a breakeven point over twenty dollars.
Now, why do i not test products that have under a twenty dollar breakeven point? In my opinion, i won’t, even look at a product that has under a twenty dollar breakeven point, because facebook takes a chunk of the money.
The cost of goods takes a chunk of the money and, at the end of the day, anything that is under that 20 breakeven point won’t leave enough skin in the game there’s, not enough profit for you to keep and Take home 20 is going to be the absolute minimum that i will work with.
I prefer to work even in the range of 30 or 35 breakeven points, but 20 is the minimum for me and the last thing this is very simple: is it found in stores if you could go to walmart target costco sam’s club any Place and find it on the shelves.
This is not a product. You want to test the best position that you could put your customer in is, if they don’t make this purchase from you right now, then they would have no idea where else to get it.
That is the best position that you could put your customer in and if they can’t find it in stores. That is the position that you will put them in, so that’s. One of my metrics that i will look for how are you going to find these products there’s, really two different ways that i like to find products one.
I will use a product research service. I don’t like the services that just shove products down your throat and say hey. This is what you should be testing. I like the ones that are like google. They’re, just a search engine for different facebook ads.
The one that i prefer is called droppoint.com next is going to be going through aliexpress and just combing through the different products that are new drop point is going to be really riding a wave. It’s, something that’s already working it’s, something that maybe has a little bit of saturation where aliexpress is like creating your own wave.
Not as many people are gonna know about it, and maybe people don’t even know that you could sell that product. Those products react very differently, and so what you’re going to want to do is test these two different methods and keep track of which one is working better for you.
Let’s, go ahead and hop onto drop point and i’ll. Show you exactly how i find these products once you are here, you’re, going to go ahead and sign in. Let me go ahead and do that real, quick, and this is what draw point looks like i like to stay under this live advertisement filter.
This is just different products that are popping up throughout the day over here. You could do last scene ads and then what i really prefer to use on drop point here is these different functions that they have so typically, i’ll, go through on the share amounts and do maybe 100 shares, maybe max 250 and start there And then work my way up from there i’ll start from 100 to 250, then move from 251 to 500, then from 501 to 1000 and just continuously scale it up and see more and more saturated products.
There’s, going to be so many products that are on here that you can add to your list. Remember during this time period, don’t judge them don’t, try to make assumptions and say: oh this, this one’s, not cool people.
Aren’t going to like this. It doesn’t matter what you think it matters on whether or not people are actually going to buy it, whether or not other people would like it. So here i’m, not making any adjustments.
I’m, not making any judgments. I’m just going to go through find products that i think other people could like and then add them to the list and that’s, pretty much it for draw points. Next, we’re going to head to aliexpress.
This process is not complicated. Don’t overthink it. The most important thing is just starting to get products added to this list and starting to take action. Once you’re here, you could comb through a couple of different niches, so i’ll.
Tell you some of the ones that i like the most some of the ones that i really enjoy. The most is going to be home pet and appliances. I also like outdoor fun and sports and then, of course, the classic beauty, health and hair.
Those are all really good niches. They will be really good starting points for you once you get here. You can just click on one of these different menu items and then you’re, going to go ahead and sort the price i would do at minimum five dollars.
We don’t want any cheap products. We want something that’s, actually high quality that our customers are going to like, and then i’m gonna go ahead and sort this by newest. Then at this point we’re, going to get a bunch of products that, just recently got added to aliexpress, remember riding a wave versus creating a wave.
If we’re trying to create a wave, we want something that’s super under the radar that not many people know about. So here we’re, going to start combing through some of the different products and really just look for things that are interesting.
They don’t have to be something that you enjoy. They just have to be something that’s unique and that’s, really it when it comes to product research. Don’t overthink this it’s, a very simple process. The most important thing is starting to take action and don’t paralyze yourself with starting to give too much judgment to these products.
I get them added to that new products, column and i’ll, try to add 10 20 a day and then the next day i’ll go through and then i ‘ Ll. Give my judgment. I ‘ Ll start to look at these products a little bit deeper.
Try to find competitors, try to figure out whether or not that margin will work. Is there anybody else that’s running the product? That second day is really when i’ll start to figure out. Am i going to test this product, or am i going to just move this product off to the side and not end up testing it, and so, if there’s, anything that you get from this video one.
I hope that you got a clear system on how you could find winning products consistently and then two start taking action. Don’t. Wait. Don’t think that you don’t. Have it figured out just start looking for products, get them added to the list and then start testing that’s, how you find winners, but that’s, going to be it for this video guys.
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