Product Research Tips: 12 Tactics you should know

[Holicent]

When you're starting out, it seems like there are a million things to do. You need to set up your shop and figure out what products you're going to sell. What about the logistics of shipping? How much inventory will you need? You should be able to answer those questions within an hour or two of starting up your store, right?

The truth is, it doesn't work that way. It takes time to find answers to your questions, but the sooner you can get started, the better off you'll be long-term. Here are 10 tips for getting started on Product Research:

1. Start with a list of customer problems and solutions. Define the problem, then look at what's already in the market that solves it. Once you've identified a few solutions that could work well for your customers, start looking at other companies who offer similar products and services.

2. Look at customer reviews on Google and YouTube (or anywhere else where people share their opinions). Is the company's product any good? Are there any bad reviews? What are people saying about the service they received from them? Are there any real customer complaints about this company? Do these reviews sound legitimate or are they just written by paid promoters who have nothing else to offer.

3. Talk to customers

4. Get out of your own head

5. Analyze competitors' products

6. Use online research tools

7. Look at industry reports and data sets

8. Read industry news sites

9. Consider social media as a source of information

10. Ask friends and family who might be interested in the product or service

11. Join or connect with relevant industry organizations or groups (e.g., local incubators)

12. Talk to people who are in similar industries.

 

[Jasz]

1. Google the product

If you’re looking for a product, the first thing you should do is Google it. The reason for this is simple: if you can’t find it on Google, you probably don’t have much information about it to work with. You might be able to find some basic information on a site that has nothing to do with the actual product, so make sure to check out what other sites are saying about your target keywords before jumping into an analysis of the site itself.

2. Check out Reviews

Reviews give us an idea of what other people think of a product and whether or not they would recommend it to others. They also show us how satisfied they were with their purchase, which can help us decide whether or not we should buy the item ourselves. If reviews are bad, then there’s no reason for anyone else to buy that product either!

3. Look at Industry Trends

Industry trends change all the time and products may become obsolete if they don’t keep up with technological advancements or changes in customer needs (or both!). When looking at websites for products that are popular within your market area, take note of any recent industry news stories.