So I’ve decided it would be more fun if you guys knew the exact keywords and products I was going to target with my Amazon product. I don’t yet still want to reveal the name of the company or anything like that or the product specifics in itself but I will tell you the name of the product and what it is very similar too. That is something called a vehicle access control software, now although this has software in the name, the actual device can be purchased and set-up by anyone generally these retail at a very high price but for individual use there isn’t much competition, for example the company linked mainly does B2B and as a result leaves a gap in the market. The keys to the reason why I chose this product, well I’ll get onto that in a second, firs though have a look at what it looks like and how it works with the image below.
Why I Chose This Product
- It’s lightweight – This is key for 2 reasons (obviously the full set-up is not lightweight) but the sotware element is, meaning shipping will be reduced, meaning that profit margins are increased and the cut Amazon takes is smaller, that’s great for just about everyone.
- It’s software “based” – What I mean here is there is no point purchasing something that is software based if you aren’t going to actually have a use for it. Meaning refunds should be very low, and as a result our profit margins should be very high.
- Profit margins – Coming from that point, the profit margins on this product are great, in fact some of the highest I’ve ever worked on from a business point of view. This is something that I want to get more of in the future as well, higher profit margins means more money for advertising and marketing and hence a bigger brand that can be grown out of the same product.
- Customer Base – Again on from the software, low refund rate point I wanted a product that would not only make it easy for me to market it across the world, but also something that would allow me to connect with only serious buyers, so no customer service time is wasted, this product does allow this, with the majority of buyers being professionals or business owners.