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How to sell products online to successfully build your next bestseller - 3 simple steps
How to sell products online to successfully build your next bestseller - 3 simple steps
By Trudi Roach
Today we’re going to talk about building products that are going to be reliable, revenue-generating, best-selling items that are exactly what your ideal customer wants to buy.
I want to share with you some of the steps that I walk my clients through so that you can feel really good about the new products you're launching to your customers.
Today, we’re going to talk about how to sell products online to successfully so you can build your next bestseller - 3 simple steps to create products that your ideal customer needs and desires.
I know, it can feel like, "OK, Trudi, don’t I need a fashion degree or years of industry experience to do this?"
If you find that you launch a product and nobody seems to care about it, or you're not getting those consistent sales coming in, it's probably because you don't know how to build success into your products.
You're in the right place if you’re having a hard time coming up with new product ideas you’re confident about, or you’re tired of guessing what to offer your customers next.
You're in the right place if you're ready for a better way to grow your product offering!
Today you'll learn how to start the process so you're not overwhelmed and the 3 steps to create a consistent product strategy for your brand every day.
You’ll understand how to identify the trends like an expert so you can create products your customers are waiting to buy.
I know that right now it probably feels like you’re wasting a ton of time worrying about where to start. You’re struggling to imagine what your customers want next and afraid you'll do all the work and they won't buy.
Do you wonder how the big brands (and even just other brands) do it?
The truth is if you don't have industry experience as a merchandiser or buyer this can look like a magical process.
No more chasing unicorn products!
I'm going to teach you the tools you need to build your next bestseller, so you can plan out successful product launches for the next 6-12 months, and have your customers think you're reading their minds.
What’s the ultimate goal? Nail your new product launch & generate consistent sales.
I've used these exact strategies while leading teams of designers & merchandisers for multi-million-dollar Global brands and private label product programs alike. And I’ve seen these same strategies work with my own clients.
You can use this same process in your brand!
What’s the real magic to creating a bestseller?
The key is having a simple merchandising strategy.
A merchandising strategy helps you build a product the right way, leads to improved sales, more revenue, more customer satisfaction, with a lot less risk, and headache. Because the reality is you need a consistent method to BUILD new product ideas without the risk.
To improve your next product launch, you need...
To focus on data that shows proof
Awareness of evolving trends
A way to coordinate your products to generate more sales
It comes down to having a simple Merchandising Strategy you can put into action. And that's why we love a 3-step process to build a bestseller!
PART ONE - SORT YOUR SALES
This is the very first step that I recommend all of my clients go through when trying to think of new fashion or accessory items to launch, that is going to be perfect for their ideal customer.
I don't just mean taking a quick look at what’s happening right now on your website, then logging off. And I’m not talking about relying on that one amazing product review you just saw on Instagram.
Even if you launched your very first product based on a lotta love and your own ‘gut’ and it worked, it’s not a sustainable process to create results.
You need proof and measurable evidence.
You need sales data.
When you look at hard numbers, your sales data, it eliminates emotional responses and gives you the real facts that can support your next decisions.
Here’s how does it work?
You need to create a regular review process & schedule weekly or monthly check in’s on whatever sales portal, website, or any other source you use.
Be sure to keep a log or tracker sheet and be consistent in recording the numbers. It doesn’t need to be fancy, just consistent. And legible.
You’re going to need to know your key metrics, like sell-thru rate, inventory levels, and profit margins.
“Data-backed insights ... help you make accurate decisions, stay ahead of change, and know how to adapt."
WGSN
When you consistently track your sales, you’ll know what items actually sold, when, and how many. Styles, colors, sizes, fabric, etc.
Sales data can help you quantify the potential size and scale of future product launches. You will be better positioned to plan your new inventory, order materials, set aside money to invest.
You will no longer be tempted to buy back into bad products. That simply means those products your customer has voted on with their dollars (even if you LOVED them….remember…no emotion please)!
PART TWO – TRACK THE TRENDS
You don't need to be a fashion guru or industry insider, but you do need to stay on top of the marketplace. Understanding the new trends and ideas helps you decide which direction to go in when developing your product(s).
Think of trends as a way to refresh your brand and product each season, add excitement, and drive sales.
How do you start your trend research?
Start to research trends from industry sources, insiders, influencers, and trend services.
You probably already have a list of your own influencers, and maybe competitors you already look to for information.
When you practice tracking the trends it will enable you to create a bank of ideas to draw from whenever you need inspiration or ideas to bring newness to your product offering.
When you refer to trend resources outside of your brand, you get proof and some confirmation of what's immerging and help align with customers trending desires.
Use sources like WGSN, FashionSnoops, and more.
Even the high-end trend services have free blogs or newsletters you can sign up for. And you can download my FREE Trend Resource guide and get started.
Download HERE
Keep expanding your list of trend references until you feel like you are seeing a good cross-section of exciting influences that you can draw from for your unique brand.
And don’t forget to also track trends IRL. Notice what real-life people (and your customers) are wearing and sharing. Trends have a habit of trickling up from the ‘street’ and well as down from the top.
Trends are there to inspire you and to get you excited about new possibilities that might be right for your customer. Don’t get caught up in thinking you need to jump on every trend. Be selective. See a trend, then think about your own brand DNA, your customer, and your mission.
You will soon start to get a feel for what trends might apply to your brand and product.
When a trend feels like it is in-line with your brand, it can have a longer lifespan and be more valuable to you and your customer in the long run.
So, don’t worry about skipping anything that doesn’t feel right.
Being selective and staying true to your brand will help you make more informed decisions when planning your next product launch, and how you to bring these exciting ideas to your customers.
"Create the right products at the right time. Design the products, services, and experiences that people will want to buy by tapping into ... insight and product design direction
WGSN
PART THREE: COORDINATE COLORS & CATEGORIES
So, the first two steps of the process are learning about what’s worked and what’s trending for your product category and the broader market. Once you have those pieces of the puzzle then you can move into step three, which is all about implementing your ideas.
Launching a stand-alone product can work, but it's not built to cross-merchandise and can leave $$$ on the table.
When you use trend moods, materials, or new colors to coordinate products & categories across your brand, you create customer excitement AND multiple sales.
For example, if a customer adds a body wash to her basket, offer her a coordinating exfoliator, lotion, and shower cap, too. Perhaps all in an exciting new trending fragrance!
Did you know:
Existing customers are 50% more likely than prospects to try out your new products.
Business2Community
Here’s how to apply your sales and trend information to position your products for sales success.
Pick ONE new trend theme or mood to apply to multiple products. First, decide on which new or emerging trend best aligns with your brand DNA. This is a great time to brainstorm actual new product ideas using the trend. Try that trend on for size. You can create mood boards, fabric or material studies, or even Pinterest images to fine-tune your idea.
Now, you might be thinking..."This is great, but how do I know how to pick the right trends?"
Don’t worry, if a trend feels like it’s aligned with your brand you won’t pick the wrong trend. If you’re a sustainable candle maker you will most likely not respond to the neon trend – because neon colors have too many dye chemicals in their creation.
Or simply because your customers prefer no-dye products or natural colors.
Here’s another example. Let’s think about the 2021 Full-Volume Trend, it features an oversized fit, maxed out fabrics, etc.
You could apply this trend to T-shirts, home accessories like throws and pillows perhaps, and fashion items. It might even work with kids' wear and fabric hair accessories.
But when you think about the Full-Volume Trend, it might not apply to makeup or work with a classic kids brand or handmade candles. The Tie-Dye trend might be a better direction.
The fastest and most cost-effective way to incorporate trend inspiration into your brand is to choose a trending color that coordinates across a group of items, categories, or even seasons. Think about adding a new color to a bestselling item, (see Step ONE)!
The #1 thing entrepreneurs skip when it comes to building products in this 3-Step process!
Remember, to build your next bestseller, you need to...
Focus on data
Understand evolving trends
Coordinate your products
And repeating this three-step process over and over and over again will contribute to helping you create what is known as a bestseller, which are products that you can rely on to sell well, and generate excitement and sales.
Which of these strategies will you get started on today?
Industry Insider Bonus!
Get started researching trends you can use for your own brand. Find International trends for Women and Men, kids, beauty, and more. See what Industry insiders, influencers, and designers are forecasting for brands like yours.
CONCLUSION
So, there you are, it's a simple three-step process for you to develop your bestsellers right now. I promise you, when you focus on these core fundamentals, the data, the trends, and the coordination, then you are building new products that are 10 times more likely to make your weekly bestseller list.
I hope this was valuable for you in helping you to understand where to start in crafting your next best-selling product. Remember, it comes down to the data and the trends that connect with your customer’s desire. That truly is the key to creating best-selling products in your business.
Have you figured out what your next bestseller will be??
If you need help figuring that out, I can help.
Make sure that you sign up for a FREE strategy call
Go to HERE to get signed up.
