How To Sell Products Online? An Extensive Guide
With so many different ways to sell a product online it can be difficult to find the one that’s best!
Move over, yard sales.
Selling a product online has become easier and easier over the years. Not necessarily easier to sell the product itself, but rather easier to find somewhere to sell it. And there are good reasons as to why.
There is a broad range of different websites and apps that are available to make some extra cash. And you can sell pretty much anything from the comfort of your couch if you wanted to.
Have some extra jewelry? Maybe some kitchen stuff you don’t use anymore? Or maybe you just want to get rid of some junk that’s been lying around for months. Whatever it is, there will be an avenue and platform that you can use to sell it.
And it doesn’t have to be just to earn some extra cash. If you run a business that’s looking for different ways to get your products in front of consumers, then there might be some choices you weren’t aware of. Let’s take a look at everything you need to know in order to sell products online.
Here’s What We’ll Cover:
What Products Can You Sell Online?
One of the beautiful things about selling products online is that you can sell almost anything you can think of. But to make it easy, the different products you can sell online can be split into two types of products.
General commodity products that are considered essential, high demand or popular. And niche products, which are targeted products or services that are specific to a certain type of customer.
An easier way to think about general commodity products would be to think of things you can buy from places like Walmart. Whereas niche products could be broken into more custom and unique items, like handmade products or vintage items.
How to Decide Which Products to Sell
It can be difficult to decide which products can generate the most sales. But there are a few things to keep in mind that can help. Such as deciding between a general commodity item or a niche product, or a combination of both.
The online marketplace has become incredibly competitive over the past few years and will continue to be a challenge. This also creates a greater challenge to sell general commodity products. Since bigger retailers and marketplaces can purchase a large number of items, it makes it more difficult for you to compete.
You might be better served to try selling a combination of general commodity and niche products. There’s more to it than just selling the product, but offering both can help set you up for success. You also need to deliver a seamless purchasing experience for the customer.
Once you have a sense as to the direction you will go, then you can start to choose the specific products you will sell. And there are a few things that you can brainstorm to help you decide. You don’t want to just choose a bunch of random product categories and throw them out into the universe.
It’s important to try and identify any problems in the marketplace and then offer a solution. By pinpointing different types of problems, you can make your target customer’s life easier with a convenient solution. And it doesn’t have to be anything crazy. Sometimes the simplest of ideas can have the biggest effect.
Try looking into already existing products and see if you can improve any of the features. You can also explore untapped markets or use unique product positioning to stand out.
How to Start Selling Products Online
Okay, so you have put in the work to figure out which product or products you’re going to sell online, but how do you start? Can you just post a picture to Facebook and see what happens? There’s no doubt that grandma will buy your product, but how do you maximize your opportunities?
The simple answer? Open an online store or choose an online marketplace to start selling.
But before you do that, there are some other things you should look into. Here’s a 5-step checklist to go through to help you start selling products online.
- Do in-depth market research to understand any problem areas or opportunities
- Choose the products that you will sell and identify who your target market will be
- Develop content about your product to highlight its features and benefits
- Choose the eCommerce platform where you will sell your product
- Develop and execute an overall strategy to get your product in front of the right customers and drive sales
The 5 Best Places to Sell Your Products
There are two main ways that you can sell your products or services online. The first is through your own online eCommerce store. The second is through an already established online marketplace. You can find a breakdown of the 5 best places to sell your products online below!
Shopify has established itself as one of the most trusted platforms to sell products online. It can be a perfect option because it almost does everything for you and it’s easy to use. And everyone from first-timers to more experienced sellers can use it.
That said, it can be a perfect option for first-time sellers because it’s set up in a beginner-friendly way. Starting at $29 per month, you can receive a custom website and blog, SSL certificates and social media sales channels. Plus there’s a ton of other features and tools that you can add if you need them.
If you have a Prime membership, you know how handy a two-day delivery can be. But maybe you weren’t aware that you can also sell products on Amazon yourself. One of the best things about Amazon is its ability to verify sellers and reduce counterfeit items from showing up in the marketplace.
And because of that, it has established itself as a trustworthy and reliable online seller. However, on top of a monthly fee, you will also pay a processing fee for each product you sell. This can add up quickly if you aren’t selling enough month by month.
A lot of people are able to earn a lot of income from selling on Amazon, but it can also be a challenge if you aren’t selling large quantities.
eBay is the oldest selling platform on the internet. And it’s got almost everything. So if you have been having a difficult time selling a product on a different platform, eBay could be a great solution. It could give you exposure to a larger audience.
The only real downfall to selling products on eBay is the amount of fees you could face. As soon as you list an item you are charged with a non-refundable fee. You also have to pay a certain percentage of your sale price back to eBay once it’s finalized.
All of the fees are determined based on the type of product you sell, its category, shipping and how many you sell. So, similar to Amazon, it can be a challenge to effectively sell on eBay if you aren’t selling a large quantity of products.
More of a niche market for creatives, you can sell everything from collectibles, antiques and handmade goods on Etsy. They have been around for a long time and have developed a well-respected reputation as an all-in-one eCommerce solution. Part of that is due to how easy it is to use and overall seller satisfaction.
Etsy might be the best choice if you’re selling any products from a niche market. Since you might not be selling large quantities, the fees you are charged are easier to manage. Each item listed is charged a $0.20 fee to stay up until it sells or a total of 4 months. They do take a transaction fee, but at 5% it’s much less compared to the likes of Amazon or eBay.
Bonanza is a relatively new online platform, but it has quickly established itself as a good place to sell. It’s extremely easy to set up your own shop where you can also gain access to a community of other online shops. You can even import data directly from other sites like eBay or Amazon.
One of the best features of Bonanza is that you only pay a fee if you actually make a sale. This can be beneficial if you are just starting out or are trying to test selling something new and need a product analysis. And everything from fashion, home and garden, collectibles and handbags can all be sold on the marketplace.
Uncertain times have forced a lot of people to look into different ways to generate income. And the digital climate that’s out there offers an abundance of options to do so. If you’re selling products online, it has never been easier.
Yet, it’s not as simple as just buying the product in bulk and then turning around and immediately selling it for the listing price. If it were that easy then everybody would be doing it. There’s a lot of thought and planning that needs to go into developing the right strategy.
Not only do you need to have a product that people want to buy, but you also need to understand those people and what drives their purchasing decisions. Having a well-thought-out strategy will ensure that you’re selling your product to the right customer and in the right place.
The five online selling platforms outlined above all offer an excellent way to sell your product. It just depends on who your customers are and how much product you want to sell. From there, you can create your own eCommerce shop or sell from an established marketplace.
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