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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
7 Steps to Launching a Successful New Tech Product on Amazon
Inventing an entirely new product and selling it in the electronics category on Amazon might seem like a far-fetched business plan that would be beyond your capabilities, but thanks to the advent of custom product design, prototyping, and manufacturing services, product inventing is now an opportunity that’s open to virtually any creative entrepreneur who is prepared to invest. Why Amazon, you ask? Well, it’s easily the most popular buying and selling platform on the web ahead of others like eBay and Walmart, which means your product will instantly be put in front of the world’s largest eCommerce audience after you take these steps:
1. Find a Custom Manufacturer
Every business endeavor should be backed by a practical approach, so it’s best to start with the component that will be most pivotal in bringing your invention idea into fruition. Start looking for manufacturers that offer bespoke design and prototype building services. Try to choose a supplier that is capable of producing a large volume of units so that you’ll be ready to scale up seamlessly. If your product is going to require precise manufacturing with attention to small details, choose a CNC machining provider like Rapid Direct. They offer custom and precision CNC manufacturing services that utilize an extensive selection of materials and they can meet deadlines to help you keep up with demand.
2. Work with Engineers and Consultants
Having an idea for an invention and actually being able to design it are two totally different things. To make your dream a reality, you may need the help of some technical pros. You can pay a freelance engineer on a per-project basis to provide a full design service, during which you’d tell them the main features and functions that you want the product to have and they’d collaborate with you to make it work.
3. Do Your Market Research
Conducting market research is always going to be a necessary step in any industry, but it’s particularly important when you’re bringing a new product to the world because you need to know what kind of competition you’re up against. Assess the overall size of your potential market and learn how to reach that audience effectively by finding out which keywords are being used to search for your product, and other essential. You can use competitive analysis software and SEO tools to help you with this step.
4. Create Great Branding
The appearance and appeal of your brand can have a huge impact on the number of sales you’ll make. Investing in an excellent logo and slogan isn’t as expensive as you might think. You probably won’t feel pressured to have the coolest designs and graphics initially if you’re not competing with any other brands yet. However, as other companies begin to make re-branded versions of your newly invented products, you’ll wish that you had invested in top-notch packaging and branding from the beginning.
5. Invest in Product Imagery
If you’ve ever purchased a product on Amazon, you know just how important the product pictures and videos are when you’re shopping around. In fact, the media attached to the product listing is perhaps the biggest factor that influences whether a prospective customer will buy your product or even click on the listing at all. Invest in a professional product showcasing and you’ll be dramatically increasing your sales.
6. Launch Targeted Ad Campaigns
Once you’ve gotten your product designed, prototyped, ordered in bulk, and listed on Amazon with great branding and imagery, it’s time to start putting it in front of potential buyers. This is an essential step for newly invented products because you have to create awareness with aggressive advertising as people won’t be looking for it yet. You can use Amazon’s integrated advertising options to make your product listing Sponsored, which means it will appear at the top of more search results related to the keywords of your choice.
7. Consider Using the Amazon FBA Program to Streamline Shipping
Having a top-selling product on Amazon can certainly be profitable, but it can also become a hectic burden if you’re taking care of all the packing and shipping duties yourself. When shipping volume starts to become too much to handle you can use the Fulfilled By Amazon (FBA) program to have your products shipped out from one of Amazon’s warehouses automatically. While this will reduce your profits, it will also give you the ability to scale up easily.
Should You Sell on Other Platforms as Well?
Once your product is selling well on Amazon, you might be wondering if expanding to other platforms would be worthwhile. After all, if someone is searching for your product in Google and you have it listed on Amazon, there might not be a need to have a duplicate listing on another site. However, for newly invented products that people aren’t searching for yet, it’s usually wise to go beyond Amazon after your initial wave of success. Still, most product inventors will have the highest level of success by building their momentum through Amazon.
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