Discover the Ultimate Shopify Product that Generates $10k/Day!

Table of Contents

1. Introduction
2. Criteria for Finding a Winning Product
   • 2.1 Products that are Already Selling Well
   • 2.2 Opportunity for Marking up the Product
   • 2.3 Room for Improvement on Existing Competition
   • 2.4 Products that Improve the Quality of Customer's Life
3. The Process of Finding a Winning Product
   • 3.1 Using Amazon as a Tool
   • 3.2 Selecting Categories with Potential
   • 3.3 Validating the Product on Google Trends
   • 3.4 Finding Suppliers on AliExpress
   • 3.5 Checking Competitors' Pricing on Google
4. Example of Finding a Winning Product
5. Benefits of Using the Viral Vault Software

Article

Introduction

Hey there, ecommerce enthusiasts! It's your boy Jordan here, and in today's video, I'm going to share a foolproof strategy for finding a winning product for your Shopify store. Whether you're just starting out or looking to scale your online business, this method will help you discover a product with the potential to generate $10,000 a day in sales. So let's dive right in!

Criteria for Finding a Winning Product

Before we jump into the process, let's establish the criteria for a winning product. Over the course of my journey, I have discovered four essential factors that contribute to the success of a product. These criteria are:

1. Products that are Already Selling Well: We don't have to reinvent the wheel. Look for products that are already popular on platforms like Amazon or other dropshipping stores. By capitalizing on existing trends, we can add our unique twist and ride the wave of success.

2. Opportunity for Marking up the Product: One of the keys to successful Facebook ads is having a healthy profit margin. Aim to sell your product for at least three times the cost you acquire it from your supplier. This markup allows you to invest more in customer acquisition and marketing strategies.

3. Room for Improvement on Existing Competition: Just like in any business, it's crucial to differentiate yourself from the competition. If a product is already being sold at scale, think about how you can provide better marketing, website design, or find a slightly different variation of the product. Identifying opportunities to outshine the competition sets you up for success.

4. Products that Improve the Quality of Customer's Life: Customers are more likely to make a purchase when they can clearly see the benefit of owning a product. Look for items that solve a problem or enhance their lives in some way. When your product offers a clear advantage, it becomes easier to sell.

The Process of Finding a Winning Product

Now that we understand the criteria, let's go through a step-by-step process to find a winning product. Although there are various methods available, I'll be focusing on using Amazon as a tool for product research.

1. Using Amazon as a Tool: Begin by visiting Amazon and click on the "Best Sellers" tab. This section showcases products that are currently popular. For more recent trends, select the "Movers and Shakers" tab, which highlights products experiencing rapid growth in the last 24 hours.

2. Selecting Categories with Potential: While there are numerous categories to explore, some have more potential for winning products. Categories like baby products, beauty and personal care, health and household, home and kitchen, and electronics often yield successful products. Choose a category that interests you and aligns with the criteria we discussed earlier.

3. Validating the Product on Google Trends: Once you find a potential product on Amazon, it's essential to validate its popularity using Google Trends. Search for the product name or keywords related to it. The trends graph will show you how the product has been performing over time. Look for consistent high interest, especially in the present period.

4. Finding Suppliers on AliExpress: With Google Trends validation, you can proceed to AliExpress to find a supplier for the chosen product. Use the search bar to look for the product and sort the results by orders to find the most popular options. Pay attention to the price and determine if there is room to mark up the product in your store.

5. Checking Competitors' Pricing on Google: Lastly, conduct a Google search of the product to see if other businesses are selling it at the desired price range. This step ensures that there is demand for the product at a higher price point. Analyze competitors' websites and their branding strategies to gain insights for your own marketing approach.

Example of Finding a Winning Product

Let's walk through an example using the methodology outlined above. Suppose we choose the health and household category on Amazon and come across an innovative smart scale that connects to a fitness app. This product checks off all the criteria: it's selling well on Amazon, can be marked up for a healthy profit margin, offers room for improvement in the market, and improves the customer's quality of life.

We validate its potential using Google Trends and see that the interest in smart scales is currently at its peak. On AliExpress, we find options within the desired price range and discover that other businesses are successfully selling the product for a higher price, indicating its market demand. With all these factors in place, we can confidently say that we've found a winning product.

Benefits of Using the Viral Vault Software

If you want to streamline your product research process and gain access to a curated selection of winning products, consider using the Viral Vault software. With this tool, my product research team constantly updates the platform with two high-quality winning products every day. Each product comes with all the necessary information, including suppliers, Amazon listings, and even a video ad. Additionally, Viral Vault provides a crash course to help beginners set up their first online store.

By using this software, you can save time and effort in finding profitable products to sell. The Viral Vault community also offers weekly coaching calls, allowing you to tap into expert guidance to further enhance your dropshipping success.

And there you have it—a step-by-step guide to finding a winning product for your ecommerce store. By following these strategies and utilizing tools like the Viral Vault software, you can maximize your chances of finding a product that drives significant sales and helps you achieve your financial goals. Start your online business journey today and unlock the potential for substantial profits!

Highlights

• Criteria for finding a winning product: already selling well, opportunity for markup, room for improvement, improves customer's life.
• Process of finding a winning product: using Amazon as a tool, selecting categories with potential, validating on Google Trends, finding suppliers on AliExpress, checking competitors' pricing on Google.
• Example of finding a winning product: smart scale with fitness tracking app connectivity.
• Benefits of using the Viral Vault software: curated selection of winning products, supplier information, video ad, crash course, weekly coaching calls.

FAQ

Q: Can I use this strategy for any type of online store? A: Yes, this strategy can be applied to various types of online stores. The key is to identify products that meet the criteria mentioned and have market demand.

Q: How much time does it usually take to find a winning product using this method? A: The timeframe can vary depending on your familiarity with the process and the specific product you're looking for. With practice, you can streamline the research and validation process, making it more efficient.

Q: Is it necessary to use the Viral Vault software, or can I find winning products on my own? A: While the Viral Vault software offers convenience and a curated selection of winning products, you can certainly find winning products on your own. The software is designed to assist and accelerate the product research process.

Q: Can I use this strategy for other ecommerce platforms besides Shopify? A: Absolutely! This strategy is not limited to Shopify and can be applied to other ecommerce platforms as well.

Q: Are there any risks involved in dropshipping products using this strategy? A: As with any business venture, there are inherent risks. It's crucial to thoroughly research the product, its market demand, and competition before committing to it. Additionally, continuously monitoring and adapting your marketing strategies can help mitigate risks and maximize success.