Original subtitles

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This is the most important criteria 2

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that I could possibly use 3

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when determining success 4

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or not success 5

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or failure when 6

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sourcing a private 7

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label product. 8

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OK so 9

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and what it is 10

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is how can I differentiate 11

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and add value. 12

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So I'm going to show you guys 13

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just a couple of ways that we can 14

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differentiate here. 15

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Well first let me tell you why 16

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this is important. 17

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So back in the day 18

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2014 19

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and before it didn't really matter 20

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what you were doing there used to be the days 21

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of you could go on private label 22

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and just throw a label on it 23

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put your own logo 24

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and then sell 25

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and kill it. 26

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Well those days are over. 27

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That's not going to work anymore. 28

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Maybe if you catch an early market 29

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that's still possible. 30

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But I just don't believe that it works 31

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anymore 32

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or if it does 33

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you have to have the 34

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best marketing 35

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and you have to have a lot of dollars 36

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and you have to do some tricks to 37

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get it ranking. 38

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Otherwise people just 39

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basically aren't going to buy 40

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your product because 41

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when you have less reviews 42

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and the same product as the 43

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other guy and he is just as good of a listing 44

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why would they buy yours. 45

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You're not ranking as high as them either. 46

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It just doesn't 47

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make sense from that perspective 48

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the way that you can convince 49

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somebody or yourself like 50

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think if you were looking for listings 51

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why would you buy your product 52

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over the others. 53

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Well there's certain ways. 54

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Now if you play 55

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to those certain ways you can 56

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speak out to that individual 57

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customer. 58

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So I think it's very important 59

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to understand the use case 60

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for your product 61

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and what they are 62

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who the customer is. 63

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So that's how you're gonna be able to 64

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find a way to add value 65

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or differentiate. 66

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So the first one is going 67

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to be how can you make a better 68

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assortment of goods. 69

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OK let's 70

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say we're going into a market 71

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and we're going just 72

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on Amazon. 73

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All right. So let's say we are looking 74

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at GoPro accessories 75

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and they're all different 76

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assortments OK for 77

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different markets 78

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and whatnot. 79

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So yeah 80

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so you could tell that 81

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people are buying whatever is the most 82

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efficient assortment for them 83

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and there is way to add value 84

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there 85

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now there has been a bit of consolidation 86

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in this one actually over time 87

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just because there's such high 88

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volume and then it's like who can get 89

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the most in there. 90

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But this is just to 91

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prove the point essentially 92

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that there are certain ways 93

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that you can make an assortment. 94

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You get the economies of scale 95

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and that's going to allow people 96

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to want to buy yours over the others because 97

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it's the best value for their deal. 98

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So that is one way. 99

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Now let's say a different size. 100

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OK. And let me show you an example 101

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of that. OK so we have an example 102

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of how size can be 103

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important here. 104

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So there's these 105

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essentially these wet wipes that people 106

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are using for camping 107

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or are after they work out 108

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or went on they can't take a shower 109

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and they want to clean themselves 110

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off. So what was 111

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right here. 112

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Simply by increasing the size 113

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of these wet wipes. 114

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They are now more valuable to 115

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somebody because they can clean off their entire 116

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body with just one wipe. 117

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So that's example of how they've 118

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added value through 119

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adding the size 120

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or just think 121

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about different markets where 122

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a larger product 123

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or a smaller product would be 124

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more appealable. 125

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So let's say we're looking at a case 126

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for a drone which 127

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for me having a very small case 128

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was really important because I'm traveling 129

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and walking around 130

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with this. So yeah there's those people 131

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who are going to want 132

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the very heavy duty case 133

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that's going to protect their drone then may be 134

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a professional. 135

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But then on the other side there's the travel 136

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people who want something that's 137

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very efficient. 138

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So there's obviously the 139

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there one for the more professional 140

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and then the travel guys. 141

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And there are all sorts 142

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of different ones. 143

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So that is one way to 144

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differentiate. 145

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All right. So another way you could differentiate 146

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is simply adding a 147

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different color like let's say 148

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for an example you are selling 149

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a fitness accessory 150

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or something 151

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and there is just black 152

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and you know just 153

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the generic colors 154

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but perhaps there is a subset 155

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of women to not 156

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to be stereotypical 157

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but there's no pink ones. 158

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OK. My sisters love pink 159

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there is women 160

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is as womanly as you could 161

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get. And so they would buy 162

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anything pink. 163

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So there you can 164

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add a color 165

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and then that's going to be 166

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speaking out to that customer 167

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who's underserved in the market. 168

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So there's also the difference 169

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of adding features. 170

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OK so let's say 171

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there was a handle on something 172

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that wasn't the best 173

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or we could go back to these 174

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these drone cases 175

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and perhaps there was 176

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you know some people wanted a place 177

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to also put their laptop 178

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in. So are 179

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like different organizations 180

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basically any way that people 181

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are looking for features 182

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or say they wish something 183

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was like this 184

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but it's not. 185

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So a good way that you could go 186

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and do that is go look 187

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at the reviews. 188

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OK. So make sure to go 189

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and watch the video on 190

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how to download all your negative reviews. 191

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And that's a very valuable way 192

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to get this feedback on how 193

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to differentiate in general because 194

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that's what I did 195

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with the eclipse glasses 196

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and that's how I found 197

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all these different ways I knew that. 198

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Oh wait there's people who are talking 199

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about using cameras 200

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and also 201

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that there's light leakage. 202

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So I made that the goggles 203

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solved the light leakage problem. 204

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I also found out how that 205

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people wanted stuff for the camera. 206

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And then I was able to make filters 207

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for that and filters for telescope. 208

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So by reading through others through 209

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those reviews you're really going to learn 210

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a lot and find these ways to differentiate. 211

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All right. So another way is going to be 212

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design so you could 213

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change the there's two types 214

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of design. So there are the basic 215

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aesthetics. 216

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So let's say a T-shirt 217

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the design on that 218

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is you know that's very 219

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subjective 220

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or a piece of art 221

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or anything else where 222

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you can have subjective 223

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design. 224

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So this could also come 225

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into play with things that serve 226

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utility for example my 227

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clips glasses. 228

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I do have 99 Designs 229

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and I spend hundreds of dollars 230

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and got over 35 designs 231

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because I knew that 232

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by having the best design 233

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glasses people be more likely 234

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to buy mine over the others because 235

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while they were buying it for a specific 236

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purpose 237

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why not. They want the best designed 238

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one too. So they want the best 239

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highest quality 240

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with the best design. 241

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So that was a way that I was able to differentiate 242

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there. 243

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Now there is also 244

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the 3D form 245

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factor design. 246

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Now this one is going to be a little bit harder 247

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because if you have to open a 248

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new mold 249

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and get a whole new 250

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you know basically if you're not just adding 251

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something very simple it's going to cost a lot 252

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more unless you have a good relationship 253

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with your supplier. 254

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But this is a really good way to differentiate 255

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because you get design patent 256

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if you make a unique 257

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change. 258

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There is a lot more simple 259

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than that. 260

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I may have a video on this in the future 261

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if not but if not Google 262

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what a design patent 263

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requirements are. 264

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But by having this mold 265

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and putting your company name into 266

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it by the way so that they don't reproduce 267

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that mold you're going to differentiate 268

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yourself 269

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and people will buy it. 270

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So I one example 271

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of a design. 272

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Well let's just say my 273

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Eclipse goggles. 274

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OK. So they had 275

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a better design that actually 276

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added features that it blocked 277

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out less light than 278

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did the 279

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other glasses. 280

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So I was adding a feature 281

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and a cool looking design. 282

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And so that is how I was able 283

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to charge you know where everybody else was charging 284

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two dollars a glass. 285

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I was charging 30 dollars 286

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for one goggle. 287

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OK. 288

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So because I solved 289

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and differentiated I was the only person 290

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on the market no PPC 291

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no anything to get that launched 292

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and it killed it. 293

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So that is one great example. 294

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And oh I guess that also goes into 295

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just the more effective solution. 296

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OK. So if. 297

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But be careful that you 298

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are inventing within 299

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what people are looking 300

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and you know just whatever 301

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your product offering is is 302

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actually better. 303

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And then just 304

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better marketing to the customer. 305

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OK. So if 306

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you're looking into a market 307

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and it is all targeted 308

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towards a certain group of people 309

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and you know that there are other groups 310

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that are underserved 311

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by either reading the reviews 312

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or using your own gut instinct 313

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you can market to 314

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that group of people. 315

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And then now this product 316

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even though it may be the same 317

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it's just marketed 318

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and pitched differently. 319

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So that that other people get 320

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the right feeling that like you know 321

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this one seems like it's for me. 322

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For example supplements they're all basically 323

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the same thing 324

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but they all market themselves 325

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in different ways. Let me see if I can find an 326

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example. 327

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All right. So right here we have the 328

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premium brain function this one 329

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right here brain boost. 330

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And what they focus on is memory 331

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focus and clarity. 332

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This one is more focused on 333

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energy. And then over here 334

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this one's also focused on energy. 335

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So by having the different pitch 336

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people are looking for nootropics 337

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but certain ones 338

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speak out to a different types 339

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of people based off 340

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that different you know like who. 341

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What are the people that are looking for nootropics. 342

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What do they actually want. 343

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You know who are they. 344

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So you're going to you're going 345

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to market differently 346

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to a different group of people for example 347

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genius mushrooms is a very 348

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different group of people compared to 349

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some of these other ones. 350

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All right. Now I want to show you guys 351

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what it would look like if 352

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a market is full. 353

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OK. So you 354

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there's really not much room for differentiation. 355

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So that is going to look 356

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like this. So if we take 357

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a look. Silicone Baking that 358

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the way that I can tell is if 359

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all of the results 360

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are generally the same thing. 361

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I really have no way to come in 362

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and differentiate that chose 363

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me assigned. 364

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So reviews aside 365

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and everything. 366

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If if all the results 367

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are similar like that 368

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that's clearly what the market wants 369

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for that keyword 370

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and that product group. 371

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So I you know unless I 372

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have some great way. 373

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So I would look at my checklist. 374

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Let's say what. 375

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What have we got. There 376

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is a better assortment. 377

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Well you know they have 378

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one two 379

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and three so 380

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in and it looks like everybody 381

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just wants a silicone baking mat 382

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at the end of the day. 383

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They are already covered 384

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and there's already assortments 385

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and colors. 386

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There's already that like 387

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maybe there's maybe 388

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I could go with size here 389

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but I'm guessing that 390

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you know I don't know how much beneficial 391

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a giant one 392

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is. But maybe this one 393

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is right there. 394

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I'm not sure exactly. 395

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Now I guess that this one did actually 396

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a pretty good job so they add 397

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on a nice design onto that. 398

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So if I'm thinking like 399

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if I was a professional 400

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baker or now this one kind of reaches 401

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out to me. 402

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So they did a good job of differentiating 403

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by knowing who their customer 404

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was. 405

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OK so you know the 406

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but different sizes already covered 407

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the assortment. 408

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We can't really do that. 409

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I don't really know how we're going to have a 410

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premium one if they're all 411

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essentially the same type. 412

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Maybe I could make some revolutionary 413

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one. But if these work 414

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and they're cheap like you know 415

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I just don't see what color 416

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that's already taken the features where 417

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you can add to this you know like 418

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I don't know what I would really add. 419

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What else is there design 420

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it's a flat map. 421

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You know I just don't see there 422

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in the design aesthetic. 423

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Somebody has already done that more 424

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effective solution. 425

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I don't know that I'm going to revolutionize 426

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a silicone baking mat 427

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and then better marketing the customer that 428

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guy already did it. 429

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And you know how many professionals are actually 430

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buying these. Only the research end 431

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but you know this would be an example 432

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of somewhere where I would just be 433

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sticking away because 434

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I mean it looks it's filled out 435

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OK. When when when they're all 436

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very similar 437

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but then like all these options 438

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have been taken 439

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I would be getting out of that. 440

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But let's say one 441

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where there is ability to differentiate. 442

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So right here we have wedding gifts. 443

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OK. 444

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Do you see the variety, 445

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oh did 446

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you. I want 447

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everybody to look at the variety of the results 448

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because that shows you there 449

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is room for innovation and differentiation that 450

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the whatever 451

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people are looking for it is not solved 452

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yet. OK. 453

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All right. 454

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So as we're looking here I mean there's 455

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clearly 456

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people like glasses but you 457

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know they have mugs. They have class glasses 458

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but basically the whole theme 459

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here is they want matching 460

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things or anything 461

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to do with their new relationship. 462

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So look there's even literally 463

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a card there is 464

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a greeting card. You know nothing 465

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is the same here 466

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but yet there 467

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is some. Yeah there's there's 468

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some pretty good revenue here. And 469

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there's definitely room 470

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for differentiation. 471

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So if you had a good idea for a wedding gift that 472

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could move enough volume you could innovate 473

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and rank properly 474

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and you could get into this market. 475

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So this would be something. 476

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I mean granted reviews 477

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aren't too bad actually. And that's 478

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the other thing when there is room like. 479

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So I talk about reviews a lot 480

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but when you look at this market you 481

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don't particularly 482

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need. 483

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You don't 484

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particularly need the most reviews because 485

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if you do something different you're the only one that 486

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is the only solution. 487

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So as long as it meets a certain criteria that 488

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people like can be trusting 489

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that it's a good quality there. 490

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You know for 491

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example a gift is very personalized 492

492

and you want it. It's 493

493

a representation of yourself. Well 494

494

it's serving 495

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the utility of giving a gift. It's a you know it 496

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is that representation of yourself. 497

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So people 498

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will want to be more willing to go out on a limb for 499

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something that is even higher priced 500

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and more different. 501

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If it if 502

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it meets their needs the best out of all these solutions. 503

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So that's 504

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where. 505

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So lastly like 506

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with Eclipse goggles. 507

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That was an 508

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example where I was able to differentiate. 509

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I had several of those criteria 510

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and it was within the keyword. 511

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And it worked. So you 512

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know there's 513

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a whole spectrum of ways that you can differentiate. 514

514

So in the end there's a lot of ways that 515

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you can differentiate your product. 516

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And I think now going 517

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into the future to stay competitive you've got to do 518

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something to differentiate. 519

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And I guess the 520

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last one that I didn't talk about is you could just be 521

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you could 522

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just have cash you get cash 523

523

and really good marketing 524

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team. 525

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By that I mean you're really good at making images 526

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and listening and you're 527

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confident in your ability to outrank the 528

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other people. And you're just a more advanced 529

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seller. 530

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But my guess is if you're watching this you're 531

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probably not at that point because those 532

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people aren't and probably 533

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not watching this video. So I 534

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hope that this is helpful and that you guys go 535

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out and actually put in 536

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time to do something different in your market 537

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and give 538

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yourself that competitive edge. 539

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That's where you're gonna get. 540

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Not only be 541

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have a better chance at 542

542

not 543

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only are you going to have a better chance at being 544

544

successful you're actually going to be solving 545

545

a market that isn't 546

546

or you're 547

547

actually going to be solving a need in the market that 548

548

hasn't been solved yet. 549

549

So people 550

550

are going to like your company more because it's 551

551

like wow. Hey that was all that 552

552

was good. Like that 553

553

was the only thing that like this is the only one that met 554

554

my needs there. 555

555

So I thank you for doing that. 556

556

Thank you for making it. 557

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So that's how you gonna 558

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get more engaged and thankful 559

559

fans as well. So I mean if you just had a little 560

560

bit better of a silicone baking spoon I 561

561

just wear like 562

562

how many of those when 563

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you buy something utilitarian that was the same as 564

564

everything else. But I would just don't 565

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think the best option is do you really 566

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ever remember that company. 567

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At least I don't maybe. 568

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No I mean I guess the anchor is 569

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the only one that I really do. 570

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But anyways 571

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regardless if 572

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you guys have other ideas of how to differentiate let 573

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me know. Well let's leave on below. 574

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OK but 575

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this is a very important factor and don't overlook it 576

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onto the next one.