To find hot products to sell online we need to have a good grasp on what is already in demand. We must look at our choices understanding that the key to success is a combination of current demand and the amount of competition that there will be over and extended amount of time.
Answering the question of what to sell in today’s market is very important to success. The only definitive way to answer that question is to hit the streets and research. The road to a hot idea will be fraught with peril. To completely finish the trip, we must understand what the consumer is expecting in a product. There are three minimum requirements that a product must satisfy, these are needs, wants, and expectations. Needs are the base reason a person purchases a product. For example when we are thirsty, we need to buy something to drink. Wants are pretty much as simple these are the overwhelming desire of the consumer. When we are thirsty, we need a drink but may want a soda. Finally are expectations this is an intangible aspect as it goes more to what we will get from the product like a feeling or memory for instance.
Another example would be university students who are looking for a textbook. They desire a book with simple language, easy to comprehend and a good price. The principle can be applied to internet sales as well. Don’t we all want to purchase products that we can easily understand at an affordable price? The law of supply and demand does not change just because the market place changed.
The next thing we must consider while looking for the next hot selling product is the level of competition that the product will encounter. This is called market share and it basically is a breakdown of the percentage of the market your product sells to compared to your competition. We actually must consider the consumer first though as they are the ones deciding where to spend their hard earned money. Therefore, we must examine the markets where we have the best chance of being on top. Remember the single most important objective in this game is to not only satisfy the consumer but to do so in a manner that equals good profitability. In addition, we must do this beyond what the competition is doing.
Finally, the last factor in finding a hot selling product is finding out the consumers interest in the product. This will tell you a lot about the demand for the product as well as where the competition is weighing in. If there is low demand and no competition, it may indicate that there is no market for the product. Conversely you may come upon a product that a great number of marketers are advertising, which means the product is in high demand this could be a great product to be involved with. Finding hot selling products require that we look at all aspects of the information we have researched. Demand, competition, and advertising all play a role in determining today’s hot selling product.
In a nutshell, this is how it will break down:
1. Not enough demand means not enough sales
2. Large competition equals less profit
3. Huge amounts of advertising sends the cost of pay-per-click through the roof
4. Small general interest plus low demand equals bad market no matter how many competitors are advertising.
Consider all these factors when you are looking for a hot selling product to promote online. You will find some bumps and turns on your road to success but keep in mind that every mistake leaves you better prepared in the future. You will learn quickly what a hot emerging trend looks like and how to take full advantage of it, before your competition can. In the end, you will find yourself an expert at finding hot selling products.
33 Comments
Norm
October 16, 2008A very good article, enjoyed reading it, and others will enjoy it also
Noreen
October 16, 2008Thanks for this helpful information.
Noreen
Rafael Cervantes
October 16, 2008.I, Mira an example, q business can operate, are amulets for good luck and karma. (the flint Catemaco, a land of sorcerers, in Mexico?), q you think? the idea is tangible, but at the same time , is an intangible, for q depends on the beliefs of individuals, in view of very high social spheres.
atentamente.Rafael Cervantes.
2ask.ws
October 16, 2008Nice post REED,
One more way to select product is based on season. Now halloween is approaching and any product on that niche will be a HOT One
2ask.wss last blog post..8 WAYS FROM WHICH YOU CAN MAKE MONEY FROM HALLOWEEN
Mutiara Hobbs
October 16, 2008Hi Reed,
Thanks for the great tips on finding hot products to sell online. I love it when you sum it up in the end that there are 4 rules of thumbs to follow: a) not enough demand means not enough sale, b) large competition equals less profit, c) huge amount of advertising sends the PPC cost through the roof, d) small general interest + low demand = bad market.
In a nutshell nutshell…basically we have to do our market research prior to deciding what online products we want to sell. I would also like to add that one of the ways to do the above is by doing a keyword research. A proper keyword research would reveal all of the 4 points that you outline at the end of this article. Luckily for us, there are a lot of keyword research tools to use, ranging from the free to paid ones. However, one other thing that’s worth pointing out as well, we want to avoid the analysis paralysis in doing our keyword research because let’s face it, there are so many factors to consider in determining customers buying motives. We can not expect that a single method of doing a keyword research will be able to reveal everything that makes our target customers tick 🙂 One way to find out is to actually go out there and start selling and don’t forget to keep track of your effort! A good tracking method will enable us to see if we are successful in reaching out to our target customers or not! Best of luck for everyone!
Brian Carelse
October 16, 2008Hey Reed,
The good old days of supply and demand is so yesterday.
Now we sell based on hype, people want instant click on a button type results.
No one looks at customer service
Worse of all the so called internet marketing guru’s have still not cottoned onto the idea that great products will sell and produce a continuous stream of income.
Joint venture give aways do not promote good service, they just build lists.
The only differance between marketers and spammers is they gave the subscriber a gift which gives one a license to spam them, they did not directly ask for your stuff.
I am really looking forward to some honest internet based businesses doing the service joint venture.
I know I will be there…
Reed you are one of the few others I know will be there.
Remember the days of customer service when you were at school. Bad service meant they did not buy from you.
Permission for the next e-mail to be sent is what I promote in my book The Revolutionary Internet Marketing System @ http://www.e-marketingsolutions.info Someday we will know what is selling because our mailling list is buyin it … based on great service
Thanks
Brian
p.s. Now I’ll get off my soap box
Timothy Millar
October 16, 2008Great post Reed,
Information that every Marketer needs. Brian also hit on a very good point about all of the list sucking freebies and this issue is being addressed in my product. Which by the way, I am looking for a partner in this project,Anyone interested? I may be a little unconventional in my methods but I will never be accused of spam. I have the product and the motivation point behind it.
Thanks for showing me how to prove it,Now I just need to hit the Market with it. Have a great day Reed, Tim “The Leprechaun”
Timothy Watson
October 16, 2008I have the opposite problem. I just got my hands on some hot, new products, but I have about a zero advertising budget. My Adsense check cannot get here fast enough.
Floyd Bogart
October 16, 2008Am fast becoming a fan of your posts!
Keep them coming…
Jonclaude
October 16, 2008Hi Reed,
Good point you make the offer and demand this long history.
Thanks to remind us the basic rule
Afam Uzoechina
October 16, 2008The best way to do that is to seek out what people want and are ready,with their money yearning for a product that will give them that which they desire.
Thanks
Afam Uzoechinas last blog post..5 Steps to Increase your Google Page Rank
Peter
October 16, 2008Hallo Reed,
well placed words for whom ? How to become an overnight marketing expert with what ? All these chemes to get rich or to squezze a big fortune out of your poor abilities is not brought down into only mentioning the 4 items you need. You have to keep also in mind the human relations to their sales eficiancy a human factor. What do you want? Your OWN best-selling highly-profitable products or affiliates workload on automated profits? without the hard work of research.. even if you don’t know the first thing about marketing?
You should not read a lesson highly academic
but speak about what is attainable.
It is not easy to have your own product and also a memoryvalue which is carrying your expertise to be recognized and respected as ‘GURU’ or in other words as an expert! Otherwise, no one will jv with you, no one will affiliate with you, and no one will buy from you either!!!! Just a product and a competition won’t cut it. Nobody will tell you this but’s the sad truth about ‘online profit world’ that most people find out the ,hard way. My dear friend it’s not easy to become a recognized, respected and successful marketing expert as you are . It’s even harder trying to convince others that you are one.
But the worst part is…unless you can convince others that you are an expert in your field, you just don’t make any money. To hit the point this is the harsh reality.!!!
As a result of your blog as I always telling this is a intense workload which you should have in mind and let’s face facts you need to have some (at least some) solid marketing experience. But there’s a sneaky little secret
that no one’s talking about. The top ‘GURUS’ don’t even create or try to find their own products.They hire the experts to do this for them due to the money they made before by writing the HOW TO methods.
Peter
Rivers
October 16, 2008Reed..the simple basics of business is applied in this blog…know thy consumer! Follow that approach and success is guaranteed. That of course means KNOW THY CONSUMER…not just think you know them.
To your success!
Rivers
http://jvbusinesschool.com
internet marketing success formula
October 16, 2008If you look at the widgets on this site guys then you can see the paydotcom widget. There you have it the top 5 SELLING products yes SELLING.
Clickbank does the same.
Customer service is important everyone but you could get hung up on that and never have time to promote if you are a one man band.
PV Reymond
October 16, 2008Hi Reed,
This is a great post… I agree with you 100%.
Most people are failing to make money online because they are selling the products they like instead of selling the products the market wants.
When you offer the right product to the right market at the right price, only one thing can happen, Success.
Thanks,
^PV Remyond
sri
October 16, 2008Thanks Reed for the infos. It is very useful.
Hamid Mat Sain
October 16, 2008Hi Reed,
Some say “you can sell refridgerators to the Eskimos” in Marketing.
Sometimes, Marketers can take the high road to proactively create a nonexistent market if they are creative enough.
cheers
Hamid Mat Sains last blog post..7 Tips to Pick the Right Affiliate Program
Wayne Bell
October 16, 2008Some good points Reed “But” there are other things to consider. One of them would be the technique being used and the ad copy for promoting a product or service. I have found that quite often changing one or both of these can turn a poor converting product into a Hot Seller.
Regards
Wayne Bell
http://bellshomeprofitnetwork.synthasite.com/
normz2
October 16, 2008In a normal business service goes a long way. In internet marketing you should find a niche that you can expand on, in order to get repeat sales. There is a lot of hype out there, which probably works on the short term, but burns out after a while. I am still feeling my way in I.M. norm.
David Smyth
October 16, 2008[QUOTE]:’My dear friend it’s not easy to become a recognized, respected and successful marketing expert as you are . It’s even harder trying to convince others that you are one.’
You know Peter, I’m really disappointed in myself to admit that I’ve got in to the habit of logging on to this blog to see what you are going to come up with next! I admit, I don’t know know you from Adam; perhaps you are a highly respected, extremely successful online marketer who has every right to be listened to.
You just sound so excessively serious and, how does one put this nicely, highly strung! This is really bad form of me to be going off topic I know but I couldn’t help but choke back a huge guffaw of disbelief when you start throwing around terms like ‘my dear friend’ etc. Sounds like an epithet to me!
At the very least, you are entertaining on occasion, and maybe I’ll learn things from you too?
Apologies Mister Floren for being a bit self-indulgent here. About to go on holidays so I shall offer you an enforced ‘hiatus’.
Finally, Peter, maybe you are really ‘straight down the line’ with your so called ‘friends’ but if you ‘ranted’ (please note italics) on one of my websites like the way you do here, there’d be no Christmas card coming from my end. Maybe my standards are just a bit higher?
… that’s all.
David.
David Smyths last blog post..Online Advertising – How To Effectively Promote Your Business
Horace Moning
October 17, 2008I want a business but i”am tired of wasting money $300.oo at a time.
Delords
October 17, 2008Great Post reed
thumbs up to you.
Jorge EZ Affiliate
October 17, 2008It is very important to find hot products right now that conversion ratios are lower due to the economy 😉
Nice post Reed.
Jorge
Jay
October 17, 2008Jumping on the next hot product with the same techniques and keywords that are already being used most is a ticket to failure. Within any hot niche, there are related keywords with fewer searches that are highly profitable simply because they are more focused. Some one looking for BBQ grills is just gathering information–someone searching for “Big Green Egg smoker grill” is ready to buy. Doing a keyword search and “drilling down” to keywords that have a buying audience is a must if you are truly looking to target the buyers, not the tire kickers.
Jay
http://www.TheSmallBusinessNanny.blogspot.com
Jays last blog post..Business Survival in Today’s Retail World
Mike Thorne
October 17, 2008Hi Reed.
I enjoy reading your posts, please keep them coming.
I always say,”Don’t try to sell apples,when
everyone wants oranges.” You have to find a hungry market,then feed it.
Mike
Cloak and track your affiliate links for free at
http://www.mysecuredlinks.net
admin
October 17, 2008@Norm, @Noreen thank you
@Rafeal sorry I’m not sure what you mean
@2ask halloween is approaching fast but that seems like it would be a really hard niche for a newbie to enter because it makes me uncomfortable and I’m sticking on the sidelines
@Mutiara thank you I’m glad you liked that last
part.
@Brian hype is popular but you either need to find a demand or create a demand for hype to work.
@Timothy M tell us more about the product
@Timothy W perhaps you could show your bank that that money is coming and they would give you a small loan?
@Floyd thanks it’s always fun to have fans 🙂
@Jonclaude thank you; business really is basic these guru’s complicate it to make more money selling you some complicated system
@Afam you hit the nail on the head
@Peter if you want to be a recognized expert focus on one topic and get every product out there on it and take loads of notes; then implement what you learn and then connect with other high profile people in that industry or related industries and freely share what you have learned; then create your product and have them promote it
@Rivers thank you 🙂
@internet marketing cool I didn’t know it was top selling; that makes me feel good since every once in awhile one of my products shows up 🙂
@PV I think we should do a combination of both you can sell products you love as long as the market loves them too 🙂
@Sri you’re welcome
@Hamid it is possible to create markets and the demand but it’s very difficult
@Wayne yes changing a headline or some of your copy can have a dramatic increase in sales
@normz2 agreed people want service and that feeling that people care about them
@David thanks for coming to my defense, where are you going on vacation?
@Horace you don’t have to waste that kind of money my girlfriend has a product that will show you step-by-step the basics that she, my dad, myself and hundreds of other marketers use to achieve success go check it out http://www.ebookmarketing101.com/
@Delords thanks
@Jorge man am I glad that I’m not the only one who has noticed that 🙂
@Jay I agree the more keywords in the search generally the cheaper it is the advertise and more likely that it will convert to a sale
@Mike thank you, also thanks for the link.
PV Reymond
October 17, 2008@Reed I agree with you, what I meant was that you have to sell what the market wants because some people find a product they like and they start promoting it without knowing if the market is willing to pay for it.
Zhana
October 17, 2008You have spelled it out so clearly, Reed.
I gotta agree with Brian, these basic principles often get lost in the sauce! Well done for going back to basics.
admin
October 20, 2008@PV gotcha thanks
@Zhana thank you
Jeff Paul Scam
October 23, 2008This blog Is very informative , I am really pleased to post my comment on this blog . It helped me with ocean of knowledge so I really belive you will do much better in the future . Good job web master .
admin
October 23, 2008@Jeff Paul thanks…
tom
December 3, 2008I would like to ask for assistance
to run the business
http://piknosa00.wordpress.com
toms last blog post..Watch Video
virtual world games for kids
May 5, 2009Selling a product that is in demand is one way to be successful in affiliate marketing. But of course it is also depends on the way you promote and market the product.
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