Picking A Niche - Competition

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So I've picked a niche, or I think I've picked a niche.

It hits MOST of the properties of a good niche... It's got good volume, good potential profitability, and I would enjoy selling this product etc.

The competition is fairly substantial though. I've got experience doing digital marketing for agencies so I know how build sites etc but still, the competition is fairly strong.

I know I'm not being specific enough, but at what point does the competition make it not worth pursuing a niche? I'm not in a rush to succeed and I have time to commit but how much does the competition weigh into it?
#competition #niche #picking
  • Profile picture of the author ZanyZebra
    Originally Posted by crediblezephyre View Post

    So I've picked a niche, or I think I've picked a niche.

    It hits MOST of the properties of a good niche... It's got good volume, good potential profitability, and I would enjoy selling this product etc.

    The competition is fairly substantial though. I've got experience doing digital marketing for agencies so I know how build sites etc but still, the competition is fairly strong.

    I know I'm not being specific enough, but at what point does the competition make it not worth pursuing a niche? I'm not in a rush to succeed and I have time to commit but how much does the competition weigh into it?
    One weak competitor is one too many (if you don't stand out).

    A thousand strong competitors are nothing to worry about (if you do stand out).

    Here's the most important thing to know about selling on amazon:

    The best marketer wins!

    <hint> Notice I didn't say the best seller wins. <hint>

    By marketing I mean in its fullest strategic sense. Learn strategies to reduce the level of competition (one example is to private label your product). Learn strategies for adding value to your product that tip the game of competition heavily in your favour (one example is to bundle related products).

    I've learned through running my own successful ecommerce business, selling on amazon, that winning is much less about the level of competition as it is about your ability to make your product unique and stand out.

    Not many sellers get themselves educated and come to understand this (and several other critical factors). Learn powerful strategies and techniques that avoid competing in the normal manner.

    The absence of this solid education often leads to sellers competing on the most difficult elements (one example of this is price). Competing on price is the single biggest mistake sellers make. I see it all over amazon and those I advise i tell to avoid this at all costs (pun intended).

    I hope this helps a little.

    Good luck with your venture.
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    • Profile picture of the author crediblezephyre
      Originally Posted by ZanyZebra View Post

      Here's the most important thing to know about selling on amazon:
      So this might be showing how much a beginner I am but I was more wondering about getting traffic to my site rather than products on amazon.

      I can build sites, I've done marketing for sites (generally established ones rather than starting from scratch). I'm just curious how much competition factors into getting traffic to your site.

      I see a lot of people referring to selling on amazon (especially from the quote from zany) and I feel like I'm missing something here.

      So:

      1) Can I create a dropshipping website (my own hosted one) and still get decent sales/traffic to it despite decent competition

      2) Can anyone explain to me what I'm missing about amazon selling or point me to some beginners guides or resources?

      Thanks for any responses!
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      • Profile picture of the author ZanyZebra
        Originally Posted by crediblezephyre View Post

        So this might be showing how much a beginner I am but I was more wondering about getting traffic to my site rather than products on amazon.

        I can build sites, I've done marketing for sites (generally established ones rather than starting from scratch). I'm just curious how much competition factors into getting traffic to your site.

        I see a lot of people referring to selling on amazon (especially from the quote from zany) and I feel like I'm missing something here.

        So:

        1) Can I create a dropshipping website (my own hosted one) and still get decent sales/traffic to it despite decent competition

        2) Can anyone explain to me what I'm missing about amazon selling or point me to some beginners guides or resources?

        Thanks for any responses!
        Let my clarify.

        My response to your question was in relation to ecommerce in general. My specific about amazon was on the assumption that you would be selling from your ecommerce site and amazon (as many, many do).

        1. Yes, of course, you can take the dropshipping route. Many have (but make sure you know what you're getting yourself into with dropshipping). I get asked a lot about why I don't dropship (perhaps I should post on the subject)

        Yes you can create decent traffic. You have buy it. Especially in the beginning (but nearly always thereafter too).

        In time, a fairly long time, it's possible to build your traffic with assistance from social media. This takes time and effort. Consistently, the people I've advised in the past, have only ever seen social media 'returns' of any sizeable volume in the med-longer term.

        So, short term, buy the traffic (and make sure you do it well or you will be throwing money away). Longer term, use social media to support and develop your bought traffic.

        2. I'm not sure what it is you think you're missing about amazon. Other than it's easily the biggest and most successful ecommece platform for selling that there is. If you don't 'use it you are simply throwing sales away (and probably lots of them too).

        Many ecommerce people find that they can sell more from amazon than they sell on their own site.

        (Yes I have resources about ecommerce on amazon but won't mention them here as I don't want to be perceived as promoting in any way).

        Hope this helps a bit further.

        Good luck with your ventures.
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  • Profile picture of the author looseink
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  • If you feel confident in your digital marketing know-how and genuinely enjoy/are interested in your product, I think you're good to go. You will have competition, no matter what niche you pick. Being able to outshine them through creative and effective marketing will help you pull ahead.

    Good luck! Keep us posted.
    Tiana with ecomdash
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