Amazon FBA Day 2: How to Choose Your Customer
Summary
TLDRIn 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.
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