‘Trouble with Tools’ – ‘Product Sourcing Newsletter’
‘Worldwide Brands’ has released their latest ‘Product Sourcing Newsletter’, complete with product sourcing tips for home-based e-tailers, upcoming trade shows, and spotlighted eCommerce wholesalers. The featured article is titled “Trouble with Tools”. [Product Sourcing Newsletter]
‘Worldwide Brands’ has released their latest ‘Product Sourcing Newsletter’.
Trouble with Tools
It’d be swell if there was a market research tool that could do it all – gather product data, interpret the info flawlessly and tell you exactly what to sell. All you’d have to do is add products to your store and watch your new business grow without a hitch. That would certainly be a little bit of alright. Unfortunately, there is no such tool. In fact, even with all of the research tools that are out there, there is no market research tool capable of doing ALL of the research necessary to pick good products to sell.
Tools, research tools in particular, are designed to be an aid to your own market research not to be a crutch.
New sellers will often assume that research software is the answer to all of their problems. They figure, why even mess with learning online product research when a tool can do it all for them. So they buy a tool that that gives all kinds of numbers and statistics and data and everything…then they quickly flounder with making a decision on what to sell because they don’t really understand the research information the tool is showing them. And if you pick a product to sell based solely on the information offered from one tool you have to ask yourself if it’s the tools fault or the fault of the business owner.
When you are starting an online business you are starting a real retail business. I don’t know of any retail business that bases its financial success on the findings of a tool. A tool can’t teach you what you need to know to make educated decisions about your online business. Top online sellers do not rely on tools to make decisions for them, they use tools to help save them time. It’s up to you, the business owner, to understand and make good decisions on your business.
Let’s pretend for a moment that market research software is a razor sharp sword. If I handed you that sword and threw you into a room full of evil ninja’s and yelled “Now kung-fu fight!” how well do you think you would do? How long would you be able to stay alive, even though you were armed with a razor sharp sword? Let’s assume you had no training and no experience fighting, just a person with a sword surrounded by trained killers. Yeah…it’s not gonna be pretty. Your competition is going to rip you apart.
It’s the same way with relying on research tools without the proper knowledge to use them for what they are meant to be used for. Arming yourself with the latest greatest research tool isn’t going to increase your chances of competing online unless you understand how to not only interpret that information but also use it to pick the best products to launch your business with.
Of course your competitors won’t be out to literally kill you, but they can kill your sales. Your top competitors (and there will be seasoned sellers in whatever product area you sell in) will know how to research and analyze that market to get the most out of it. Some will be using the same tools you might be using…but they will be using them as a supplement to the additional research on that product. You have to prepare yourself and lean what they already know. When you spend a little time to get up to speed on online selling and product market research then you’ll be able to get the most out of any research tool you use for your business.
‘Product Sourcing Newsletter’ Contents
– Featured Article: Trouble with Tools
– eBiz Solutions for your Business
– Upcoming Trade Show information
– Spotlighted Supplier ready to work with you
– …and more.
Product Sourcing Newsletter
* IMNewswatch would like to thank Worldwide Brands for granting permission to reprint this newsletter.
Rank Ranger has published a new episode of the In Search SEO podcast ‘Five Things to Know in a Core Web Vitals Audit’ featuring Jan Willems Bobbink. In this episode, Jan shares five key elements to improve your Core Web Vitals, including: The difference between specific segments Comparing different page templates Understanding the difference between […]
SEO is the backbone of any business today. A well-thought SEO strategy can help you get more and more traffic and win more customers. Semrush contributor Brian Moseley has published an article on SEO myths that prevail around. He says, “Two separate websites are not very likely to react exactly the same to a change. […]
Your content can be vital in attracting new prospects and converting them into customers. With the right insights, you can convert your content into a lead magnet. Content Marketing Institute contributor Jodi Harris has published an article featuring four tips to generate more demand. She says, “What content should marketers create today for B2B buyers? […]
Content prioritization is how we determine what pieces of content to develop and publish first based on gaps on our site. Portent contributor Hailey Thompson has published an article featuring seven ways to prioritize new content ideas and improve search visibility. She says, “The following methods for content prioritization create a framework you can follow […]
Comments are closed.