Amazon FBA Day 2: How to Choose Your Customer

Summary

In this video, the speaker emphasizes the importance of understanding your customer before selecting a product idea. By focusing on five key criteria—evergreen markets, enthusiast customers, existing problems, future opportunities, and customers with financial capacity—entrepreneurs can build a sustainable brand. The speaker advocates using tools like Google Trends and Helium 10 to analyze market demand and validate product ideas based on customer needs and interests. This customer-centric approach sets the foundation for profitable selling on platforms like Amazon.

Takeaways

• 😀 Start with the customer, not the product, to build a successful brand.
• 😀 Focus on understanding the customer's needs and interests to craft a compelling brand story.
• 😀 Use Google Trends to assess the stability and longevity of your market.
• 😀 Look for evergreen markets that are not subject to sudden trends or fads.
• 😀 Target enthusiast customers who value quality and are willing to invest in better options.
• 😀 Identify a clear problem your product solves, as this drives customer searches.
• 😀 Consider future problems that your customers may encounter to create opportunities for repeat purchases.
• 😀 Ensure your target customers have the financial capability to afford your products.
• 😀 Utilize tools like Google Trends and Helium 10 for market research to validate your ideas.
• 😀 Shift your perspective from just products to the overall customer experience and journey.

Q & A

What is the primary focus of Day Two of the 7-Day challenge?

The primary focus is on identifying the target customer rather than rushing to find a product idea.

Why is starting with a person crucial in building a brand?

Starting with a person helps craft a narrative and story that resonates with the target audience, making the brand more relatable and appealing.

What is the significance of the book 'Choose' by Ryan Levesque in this context?

The book outlines essential principles for understanding customer needs, which the speaker has successfully applied to both digital and physical products.

What are the five key criteria for identifying a customer segment?

1) Evergreen market, 2) Enthusiast customers, 3) A problem to solve, 4) Future problems to solve, and 5) Customers with spending capacity.

What does 'evergreen market' mean?

An evergreen market is stable and enduring, meaning it has consistent demand and is not subject to fads or sudden declines.

How can Google Trends be used in market analysis?

Google Trends allows you to visualize market interest over time, helping to determine if a customer segment is stable and has consistent demand.

What characteristics define an 'enthusiast customer'?

An enthusiast customer is passionate about a hobby or interest and is more likely to seek higher quality options rather than the cheapest alternatives.

Why is it important to consider future problems to solve for customers?

Identifying future problems ensures ongoing opportunities for additional products or repeat purchases, which can help grow the brand sustainably.

What does 'player with money' refer to?

'Player with money' refers to targeting customers who have the financial means to purchase higher quality products, which is essential for building a profitable brand.

What approach should be avoided when using Google Trends for market analysis?

You should avoid inputting specific products into Google Trends; instead, focus on broader needs and interests to assess market viability.