3min chapter

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558: From $40k a Year to a $40k Payday: How to Start Your First Online Store

The Side Hustle Show

CHAPTER

How to Find Opportunities in Google Shopping

If you want to go into Google shopping and see who's competing with you there, that's a good place to start. So Memphis Pelicryl, how many people are actually showing up? Like, is there a lot in the Google shopping box? Cool. And then I'm going down that rabbit hole of different type of keywords people are searching and just seeing if there's opportunity there. There's one more thing I want to obviously traffic volume. If you're, you know, in the low thousands, that's going to be tough. But if there's five to 10 to 15, you're probably going to be in good shape.

00:00
Speaker 2
You're counting the manufacturers, like the manufacturers themselves or just other stores that look like you know, they're dedicated ecom stores targeting that same buyer demographic.
Speaker 1
Yeah, so you can count the manufacturers again, if they're in the Google shopping window, like that's where we're going to make our first sales is in Google shopping. So if you want to go into Google shopping and see who's competing with you there, that's a good place to start. If I search brand and product type, right? So Memphis Pelicryl, how many people are actually showing up? Like, is there a lot in the Google shopping box? Cool. And then I'll start going down that rabbit hole, we just discussed of Memphis versus, and you can just do this in Google, just go to Google, type in Memphis, it enters. So searches, right? And then hit Memphis space VS space and you'll see, oh, they're already suggesting Memphis versus this brand, Memphis versus this brand. And you can kind of get an idea or I'll start searching those. Is anybody serving those? And so I'm looking for opportunities right out of the gates. But even at like, you know, the 15 to 20 range, is there still opportunity for me to come in and either buy up market share through Google ads, which is how you have to start because you're never going to get respect for SEO out of the gates. So is there, is the Google shopping full of nine other competitors? And I click the shopping tab and there's 40 others get out of there, right? But if there's five to 10 to 15, you're probably going to be in good shape. And then I'm going down that rabbit hole of different type of keywords people are searching and just seeing if there's opportunity there.
Speaker 2
Yeah, and there's different, you know, Chrome extensions that you can use to kind of gauge the perceived domain authority of these different sites that might be ranking. I've heard like, okay, if there's a, you know, a sub a forum or a subreddit, you know, or a core thing like ranking in the top of like, okay, that's not a site dedicated to this. So that might be an opportunity to carve out some space on page one for that long tail keyword variation that you're looking
Speaker 1
at. Okay, so let's say, was there anything else on the criteria list here? There is. So there's one more thing I want to obviously traffic volume. If you're, you know, in the low thousands, that's going to be tough. If you're in the hundreds and hundreds or millions and millions, likely that's going to also like show you competition too high. The other thing I do want you to think about though, Nick is like, the idea that you're going to have a site where you sell one product that no one ever comes back and buys anything from you is very difficult, right? So it costs a lot of money to acquire a customer, whether you're selling a low ticket product, a high ticket product, a digital product, anything you're selling, it costs a fair amount of money to acquire a customer. And so I would encourage you to think through how can I sell more things to that same human that would fit inside of this industry? So I'll go back to that tiny house example, when he was just selling composting toilets, how many composting toilets are you going to buy? You're going to probably buy one, right? Maybe maybe buy two. Then you're done. You're never going to buy from me again. And so you could add like the stuff that goes in there, the coconut core and the other things that you need to put inside of the compost and toilet, that could work. Or we could pivot to selling to everyone who is buying this compost and toilet to put in their tiny house. And then we can sell them the stove, we can sell them the microwave, we can sell them solar panels, we can sell them ventilation. There's all sorts of things that that human is buying. And so rather than just sell one thing, I'd encourage you to look through the lens of like, what else could I sell here so that when I've spent the money to acquire a customer, which again, it's expensive to acquire a customer. Now I have their information, they trust me, how else can I help serve this person down the road through other products?

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