The main challenge for both new and seasoned e-commerce professionals comes down to product selection. Basically, the most common question posed is “How do I choose the right inventory for my e-commerce store for the greatest success?” Of course, this question often is asked during a Q and A after a presentation, which is an entire presentation all by itself! Therefore, the four pillars of e-commerce product selection were devised to assist you with making those challenging decisions easy.
Pillar One: Relationships are Your Best Asset in Product Selection
The most valuable asset you have in choosing the best products for your store and your clients depends on your relationships with your manufacturers, suppliers, and vendors. These professionals are your direct lifeline to access to products that sell and your best asset in meeting inventory demand, shipping timelines, and client satisfaction regarding the product quality.
When it comes to your vendors, suppliers, and manufacturers, if they are a professional and reliable company, they have the statistics, experience, and case studies to provide you with educated product sales information. These resources know what products are moving rapidly in the industry for the demographics you provide to them. If the department you talk to does not have access to this information readily available to them, then do not dismiss their expertise, instead talk to the main people with access to those numbers.
In this case, ask to speak to the account manager, the warehouse manager, or the inventory manager. By establishing a good working relationship with them, you are apt to gain the most expansive research analysis you can obtain. These professionals handle the day-to-day products, and they know what is selling, where it is selling, and how it is selling. Therefore, utilize their skill-set and knowledge and appeal to their wisdom when making educated decisions on product selection.
Recap of Pillar One: Build a Fabulous Relationship with Your Key Resources
a) Inventory Manager
b) Warehouse Manager
c) Account Manager
Pillar Two: What is Your Competition Doing
Another easy way to make educated decisions is to check out your competitors’ websites. Look at what they are selling and how they are offering those items. To make it even easier for you, often they have a navigation tool that allows you to highlight products that are most popular. As a bonus, they even have selections that list their best-selling products. Therefore, knowing what your competitors offer is a fabulous resource. Even more so, knowing what they do not provide, that you can, as far as value, is even more helpful towards your success.
Recap of Pillar Two: Look at the Details of Your Competitors Websites
a) Most popular products
b) Best-selling products
c) Pay particular attention to color and variations in product’s selling
Pillar Three: Google Keyword Planner Provides
The Google Keyword Planner is one of the most valuable tools available to you as an entrepreneur. However, the tool does have its limits. For instance, the resource is only available to you if you have an account and engage in paid ads. Yet, once you invest in the service the opportunities are limitless depending on your skills in searching terms and the way you utilize the information you learn.
SEO Search engine analytics, in case you do not already know, is a service that allows you the ability to discover the language your clients use to find the products they desire. Once you learn that information, you can utilize the Google Keyword Planner to search the correct wording allows appropriate language to optimize your site to woo them. Once these unique visitors visit your site, the verbiage based on researched SEO locks them into the sale.
The best part of this knowledge is that once you have the keywords of what your clients want, then you plug your supplier in with your client’s desires. At this time, you can see how your suppliers can fulfill the client’s needs. This results in Christmas-like results in making the best product selections that move rapidly as if it was a holiday!
Recap of Pillar Three: Google Keyword Planner Success
a) Invest in the tools that serve you.
b) Search for the terms your client’s use to fulfill their needs
c) Give your clients’ language to your suppliers to fulfill clients’ desires
Pillar Four: Color and Variation in Product Selection
Determining which color and which variation in product is the best selection is best determined by using the same strategies listed in pillar one through three! Again, Google is the best method to see which brand and products show up with the key world search. However, comparing Google trends can assist in a similar method as you can see how consumers choose to search and find their products. At the same time, Google Trends does not give absolute numbers so you need to follow up with Google Keyword Search. At the same time, on your competitor’s site, they might display the information in a list of the most popular or the most purchased items as far as color, style, or size.
Recap of Pillar Four: The Most Popular Color and Variation of the Products
a) Google Keyword Planner
b) Google Trends
c) Competitor’s Sites
Overall, by following the four pillars of success, you assure that you are choosing the best products with the best colors and variation for your e-commerce store. When you continue to build the relationships that resulted in these finds, you will discover that your ability to gain insider information increases before your competitors. Therefore, just as customer service is extremely valuable, remember to treat your manufacturers and suppliers with respect and consideration. These professionals are your direct line to continued success to providing what you clients’ desire to purchase.
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