TAS 395 (Behind The Scenes) 9 LIVE Product Research Examples and Workflow

Don’t you hate it when you waste your time going down the rabbit hole researching a product? How do you know what products would be the best to move forward with? Do you have a process in place? On this episode of The Amazing Seller, you’ll hear from Scott and Chris as they break down nine products submitted via screenshots by TAS listeners like YOU! As they break down each product example they explain why they would continue or pass on that particular product. This is a great opportunity to sit and learn how these guys make their evaluations. Make sure to listen with pen and paper ready, you are going to need it!

Pay Attention to Price Points

One area that really trips up new Amazon sellers is failing to pay attention to the prospective product’s price point. You’ve really got to figure out if it will be worth it for you to proceed with a product. Ask yourself, can I improve the product or drive sales enough to make this worth it? On this episode of The Amazing Seller, you’ll hear from Scott and Chris as they walk through several examples of products where they would proceed or decline to proceed because of the way they see the price point playing out. Don’t go through this process blind! Take the time to hear from Scott and Chris and hear how they approach this product research phase, you won’t regret it!

Low Reviews Can Be Helpful

As you proceed through your first phase of product research, make sure to note the number of reviews and also the quality of the reviews. If the product is getting a lot of sales and they have had a lot of average to below average quality reviews, that might be the right product to continue your research on. On this episode of The Amazing Seller, Scott and Chris explain how you can use a product that has poor quality reviews to swoop in, address the concerns raised in those reviews and end up with a product that takes off. Keep in mind that every product that you research that looks like this scenario isn’t going to be a “lock,” don’t get your hopes up, make sure to follow the advice and the process that Scott and Chris lay out. To hear more about the product validation phase, make sure to catch this episode!

Use the TAS Community!

Watching a training like this one with Scott and Chris can have a HUGE impact on how you proceed with your product research phase. But don’t forget that being a part of the TAS community opens you up to a vast network of people who are ready to help you tackle some of the difficult aspects of product validation. On this episode of The Amazing Seller, Scott and Chris go over how sellers like you can use the TAS community to bounce ideas, get encouragement, learn from each other's mistakes, and much more! So what are you waiting for? Don’t just sit on the sidelines, jump in! You could be missing out on some awesome insight that could make a significant impact on how you build your ecommerce business!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [4:00] Jump into the Private Label Classroom with Scott and Chris.
  • [6:00] Scott and Chris take a look at screenshots and go over product numbers.
  • [16:30] Example #2.
  • [21:00] Example #3.
  • [25:30] Example #4.
  • [30:00] Example #5.
  • [35:30] Example #6.
  • [38:30] Example #7.
  • [40:30] Example #8.
  • [44:00] Example #9.
  • [48:00] Closing thoughts from Scott and Chris.

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TRANSCRIPT TAS 395

TAS 395: (Behind The Scenes) 9 LIVE Product Research Examples and Workflow

 

[INTRODUCTION]

[00:00:03] Scott: Well hey, hey what’s up everyone! Welcome back to another episode of The Amazing Seller Podcast. This is episode number 395. And today well, we're going to dive in some more…

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…live product research and we're going to give you some examples, we're going to go through nine products that were submitted by our class. We have a class, if you guys haven't heard, we do have a class. I say we, myself and Chris Shaffer, we have a class we call it, The Private Label Classroom, and we have people in there going through the entire process, we map it all out form the five phases, step-by-step. And what we're doing here in this video, I'm going to give you this video that we actually recorded for them inside of the class.

The reason why I'm doing this is because I want you guys to understand how we break this stuff down and then also you can hear real live examples of Chris and I going through these screenshots. Now, these screenshots were submitted. That's something else that we do inside of our community, inside the class, is we allow them to submit screenshots and then what will do is we'll collect a bunch of them and then we'll jump on, Chris and I, and we'll just talk through them. We'll talk about the numbers as far as like what we like about it, what we don't like about it, what we would probably do in phase two to see if we even want to move forward with it. So, really, this is kind of like phase one of product research.

So there's a couple of different components in different parts of product research, this is like phase one. If we can push it to phase two and you'll hear us talk about what that phase two is, then you would then take it to that next phase and then start dissecting it and seeing if it's going to be worth moving to phase three which is actually finding a supplier and all that stuff. So this is an actual recording from inside of our class and, like I said, these are students submitting screenshots. Now, you're probably asking, “Scott, I would love to see the screenshots.” Well, guess what, you can. I'm actually going to post this video.

[00:02:00] Scott: Here's the deal guys, inside of our class, we have a lot of content in there, a lot of training. This is just one little morsel and I want you guys to, number one, get value from this. You can actually see what we do inside the class and then, hey, who knows? Maybe you can join us some time inside of the class, when you're ready and you can just go check it out like I said. But, what I'm going to do, I should probably give you the link to that as well. I'll do that in a minute. But if you want to see the video of us actually going through these examples, I'm going to put them up on the show notes page to this episode which is 395. So if you head over to theamazingseller.com/395, you'll be able to see the video, the exact video that we published inside of the class and you can get full access to it absolutely free.

Now if you want more information about our classes, you can head over to privatelabelclassroom.com. Easy, right? Privatelabelclassroom.com And there's also some cool things happening inside the class and I'm not going to really say it right now because it's, well, depending on when this airs, it might not be public yet. But we are moving some things around and we've got some cool things that we're going to be rolling out to not just the class but another community.

So, maybe you should just go check out privatelabelclassroom.com and see if it's up yet, and you can go ahead and get more information about that. But anyway, really, really excited to share this with you because I think it's going to deliver a ton of value because a lot of people get hung up in this stage, and you're going to hear us actually going back and forth and really digging into the numbers. And, again, you're going to probably want the screenshots. But I do on the video, I try to describe all the positions because we're actually looking at screenshots.

So then we're like, okay, position one, two, three, four and five are all above, let's say $20 and they have less than 150 reviews. And then we'll just paint the picture for you but you're probably going to want to watch the video as well because the screenshots are all included in that video. So, I'm going to stop talking so you can enjoy this training, this audio training, that is. So sit back, relax, and enjoy.

[TRAINING]

[00:04:11] Scott: All right, so what we want to do here in this video really is go through some screenshots that you guys sent in. I say, you guys, you guys that are in the class. You guys are going through product research and you want to know what about these numbers? Like, what do you guys think? I'm looking at the numbers and I'm just not sure if these look good to just me or if they look good to you guys. So what I thought we should do is myself and Chris Shaffer who's on with us, Chris, how's it going?

[00:04:43] Chris: What's going on?

[00:04:44] Scott: You ready to dive into a little bit of product research by looking at these screenshots?

[00:04:49] Chris: I am and I’m excited, man.

[00:04:51]Scott: Or these data points that they’re submitting?

[00:04:52] Chris: I love looking at these but I think the one thing we do need to keep in mind is we can give a lot of advice on here. The one kind of thing that we're not going to be able to do is say for sure, yes absolutely go for this product. But we would say let's take it one step deeper or let's kind of kill it, it's not worth looking at.

[00:05:11] Scott: Yeah. I think on the surface though and we've went through this, and again, it's kind of like the scorecard or kind of like the checklist that you're going through. Like initially, this is like what we're doing. And we've talked about this time and time again through the training. It's like, “Okay, what are the main things you're looking at like right off the bat then take it to the next validation point or the next cycle inside of this process?” Like, what's next after this like this? Like this is like the point that gets us to move to that next phase which is then looking at a trend or looking at the numbers and make sure that they're not necessarily inflated because they did promotions and like all of that stuff that we have to do a little bit more research. But this is a way to get us to that point and that's what I want to do here today. And kind of just you and I go through these screenshots and just kind of pull out what we think is worth going to that next step.

[00:06:08] Chris: And I think the other thing that's interesting about this Scott, is this is what you and I do when we look at products. We actually jump on Skype, we look at the Jungle Scouts screenshot and we have the exact conversation that we're about to have right now. So I think this is going to be a lot a lot of fun for us especially since we're kind of blind on the products and we're just looking at the numbers themselves.

[00:06:26] Scott: Yeah. And that's one thing also to keep in mind here. We don't know, by looking at these if all of these are the same type of products. Like you might have something like there. Like there is one here that is $7.99. Number 10 there is $7.99. And, we don't know, is that just an accessory to the main thing? So we don't even really consider that. So, really, are we really looking at all of these as the same product? Probably not. In most cases, no.

But what you want to do is look at the ones that are and then base your decision to move forward on those. So, in this case I'm looking at this right here, Chris and I'm looking at like the price point $16.99, $14.99, $21.54, and then we don't have anything for four and five, then $23.87, $17.37, like all of those seem like they're probably going to be the product, when looking at this at a first glance.

[00:07:21] Chris: Most likely.

[00:07:22] Scott: Yeah, most likely. But, again, we don't know that for sure. So we're going to base it off of that type of criteria in kind of looking at those things. So the first thing that I'm looking at Chris and then I'm going to have you kind of go through and maybe, point out some things that I might be missing but the first thing that I'm looking at here is I look at price, I look at estimated sales and then I look at reviews. I don't care really about the estimated revenue at this point. Again, I'm always basing off a price. Now, right away I'm looking at $16.99, $14.99, not really sure that I like that price point because number one, if that is kind of at the max point of what they're charging, then there's no room for me to grow.

Now, with that being said I would have to click in there and then see what that price has adjusted from or to. Maybe it was cheaper, maybe it was more and now this is just a test price point that they're testing and they've made sales at $18.99 and $21.99. But you wouldn't know that until you start looking at camelcamelcamel or Keepa, and you can do that right in Jungle Scout, by the way, if you just click on either rank or the price. For the most part the price is going to load up Keepa and then from there you can kind of look at that stuff.

But at first glance, I would say, “Okay, $16.99, we're going to go with that. $14.99 I don't really like that one as much. $21.54 I like that, $23.87, I like that. $17.37 is okay.” Like they're all within range. So, let's just say, the top nine, let's look at. And we're only going to looking at one, two, three, six, eight and nine. Those are the ones that are going to be looking at. Now, let me move over to the right and I'm going to look at not even the rank in this point, I'm going to look at estimated sales. So I see 3,000. 3,001 to be exact. Number two has 2,124, I see 2,513. Then I'm going to skip those other ones even though they're selling 685 and 900.

[00:09:20] Scott: Now, if I can say that that product for sure is similar to the other products then I might use that in my equation, and in this case it would be great because they're selling 20 to 30 a day. So then I would move on to the $23.87 say 478, and then I would go down 833 and even the one that's kind of the price isn't there, at $6.75. So all of that stuff is pointing to, yes, it's a little heavy on top meaning there's a ton of demand for this product. But, there's also depth because as we go down into even spot number nine, they're selling 801 still at $17.99.

Now, the next part that I do is I glance over at the reviews and this is where we look and see kind of this kind of gives us an idea of how competitive it is. So we see at 3,000 sales they only have 236 reviews. That's crazy. And then estimated sales $21.24 have 167 and then 2500 sales 154. And then even we’ll go down a little bit further and we say, “We go to spot number eight where it's 833 sales 98, merchant fulfilled by the way. So that's another thing that we look at. It’s merchant fulfill. If that’s ranking in spot number eight, they're getting 833 sales they only have 98 reviews, it's merchant fulfilled meaning if I fulfill it by Amazon, there's a good chance that I'll out rank them. Now, all of this stuff, to me Chris, and I’m going to let you go ahead and start digging through it, to me everything's looking like it's pointing to go. What’s your thoughts?

[00:10:54] Scott:  I would agree with that. The only thing that gives me a little bit of pulse is the average price point. But and Scott, we talk a lot about ten-by-ten by-one, we talk about trying to make $10 in profit. It's going to be tough at $16.99 or $14.99 to make ten bucks in profit, but that's something we'll find out at the next stage. So that would just be something that kind of nags at me in the back of my mind moving forward. Now, if we make eight bucks on this, I'd still launch it. It doesn't always have to be 10 but we like to use that as our initial guideline. Something that stuck out to me here Scott, and it may be a function of price point but if you jump down to a number 18 and 19 where it's $9.99 and 774, your sales still start to go back up.

Now, in this case, I think it's because the price is that much lower than everybody else. But what that a lot of times will indicate if you guys see like it's top heavy like this when it’s at 3001, 2000 and then it kind of falls down and then it jumps back up, a lot of times it's actually an indicator that there's a second keyword that people use to describe those things. Because what you'll see in like the , “Perfect thing.” Like if you type in the exact keyword that everyone uses, you'll see it fall like almost in the exact number of sales. So it'll be in sales order. Like rank order top to bottom.

And here you see that the volume picks back up kind of in the bottom, middle they're like 18 and 19. A lot of times that's an indicator that there's a different keyword or a different way to describe it. So I would take an extra look at those two products just to see if they're doing something different in their title because it might be another way to squeeze into this market. But looking at the price, looking at the depth, and looking at the reviews I think you can make this product work if you can source it for the right point. The volume is definitely there and it's not overly competitive, so it would definitely, for me, move on to that next stage.

[00:12:48] Scott: Right. The other thing I'll add here and, again, talking about the ten-by-ten-by-one, which we've all been kind of using as our guide now, here's the deal though. It looks like on average they're selling over 600. So now we've just doubled the amount that we're okay with, now we're talking 20. So would I be willing to make less than $10 per unit if I can do double the amount of volume? So that would be another thing that I would consider in this. But I also would look at this and go, “Is this a trend?” You know with these this lower reviews it would make me think that maybe it's a trend. Maybe it's, I don't know I'm throwing this out, maybe it's a fidget spinner. I don't know.

You know what I mean? Like if that was the case, it's not going to have enough time on the market to even have a lot of reviews but people are buying them. So then I would have to do that and that would be the second part, the second phase of the product research is where we would push it now. Let's go ahead and start drilling into camelcamelcamel, let's start looking at that, let's start looking at Google Trends, like let's start looking at that stuff to allow us to make a better decision moving forward.

The other thing is, is I would look at this is as is this a supplemental product? Is this is a product that gets bolted on to another product that I'm potentially going to launch? Or is this just going to be a product that I'm going to do a one-off of? So, these are some things that you have to consider when you're looking at this type of information. Now for me, like I said Chris all signs right now are pointing to, “Let's go to the next phase.” Now, we're not going to do that in this video and in this session because we're just kind of looking at the first phase, and that is this right here. We're looking at price, we're looking estimated sales and we're looking at the number of reviews.

The one thing we didn't talk about is we also are going to look at the rating. And the rating is also going to allow us to say, “Oh wow, they're selling 801 at $17.99 and they only have a 4.5 star rating. People are still buying.

[00:14:48] Scott: So the other one I would look at here is there is one that is, it's only $13.39 so I wouldn't necessarily say that I'm going to sell that but I would look at the reviews because the reviews are only 3.5 and they have 100 reviews.

So, if that product is similar to my product, I'm going to look at those reviews and see what I can do better. So again, I don't want to spend the entire session here on this one screenshot but you guys understand the kind of how we're going through this by us giving you a visual of what it looks like when we look at the screenshots and then, from there, what we do in the next phase. So Chris is there anything you want to wrap up with on this first example?

[00:15:29] Chris: I think just the last thing that I do Scott, because I tend to look at sales, price, reviews and then I look at the rating. So I want to see if there's depth in the market, then I want to make sure that the price point is okay. If these are all selling at $7, I wouldn't look any further than that. So sales, price, number of reviews to see if it's competitive and then that rating. And the reason that we're looking at the rating is exactly what you just said. I want to find out where I can probably get the most information about what people like and what they don't like.

So, the higher rated products are going to give me what people really like, the lower rated products are going to give you what people really don't like. So that gives us kind of a starting place so that we don't have to look at the reviews on every single listing and read through all of them. The ones that are rated lower tend to give us more of the information about what people really want to improve about that type of product.

[00:16:19] Scott: Yeah absolutely. All right, cool. I’m going to move on to the next one. Now, this one here there are 16 results, this page one, and we're going to just go through the same exact exercise. So price point looks okay. We're starting at $15.29 and then the second one is $14.24 and then $15.98 and then $15.80, and then we jump to $25.53, $18.90, $19.99, then position number eight is $12.99 and then position nine that is $23 and then we've got 10 is $37. So let's just stop there.

So again, we look at the price, Chris generally looks at sales. So if we started the other way we go, “Okay, cool let's not even look at price share.” We go, “Oh, wow 2540 sales, 1551 sales, 986 sales, 1189 sales, 797 sales, 365, 126, 910, 713 and 424. So, it looks pretty good up to a 126. The 126 is the $19.99 one. That's still fine. But you look at this and you go, “Okay, spread out amongst those 10 pretty good.” Yes number one and two is always going to have more generally because it's position number one and the price point is a little bit less.

Now Chris, the reason why I generally go to price first to be honest with you is because I don't want the numbers on the sales to get me excited, and then go. “Oh, wait a minute, that's why it's selling 2500. It's only selling for $3.99. So I go the other way. If I see that everything is selling for $7.99 I'm not even going to go on to the next part, I'm not even going to stand to the estimated sales, I don't care at that point. So, I generally go the there just to kind of go, “Okay, I see some… I see at least four or five that are selling within the number that I want to sell at, and then I jump over the estimated sales. It doesn't matter, you're on the same page but I just kind of scroll that way.

[00:18:11] Chris: Yeah, that's cool. And you actually read it in a normal way which is left to right.

[00:18:16] Scott: Yeah, so right here, right off the bat the price looks okay, it looks like we can work with that. Estimated sales look great. The depth is definitely there, and then we go to reviews. So now the reviews that would be another killer. If we had like thousands of reviews. Well, guess what we don't. Position number one has 876 which is the highest but it's selling 2500 also. And then we go to the next position number two, has 1551 sales and it's and it's only got 319 reviews, still not terrible. And then we go to position number three, 986 sales with only 58 reviews. Then we got 1189 sales with only 35 reviews, then we've got 797 sales with only 88 reviews, 365 sales with only 101 reviews, 126 sales with 83 reviews. So everything after position number two, is about one hundred or less which is pretty awesome. So again, would we go to phase two on this one, Chris? Would we?

[00:19:17] Chris: I would with the same disclaimer as the first one which is, keep an eye on that price point. But the thing that kind of stuck out to me and something that I would be doing when I move to phase two is if you look at like number nine there, number five there heck, number ten there. So five, nine and ten, you're well into that place where we should be able to make at least $10 profit. You have well over the 300 sales in those three listings. So I would look at what they're doing to drive that price point up and see if that's something that we can kind of duplicate.

Just because if we can be one of those higher price points and still hit our sales goal, a lot of times that can make or break that product for us. At $14 or $15 margins are probably going to be tight unless you can source it for a dollar or two. But at $23 or $37, those margins become a lot bigger. So I would look to see what they're doing. Are they bundling it with a different product? What are they doing to bring those sales in at that higher price point?

[00:20:22] Scott: Yeah, absolutely. And again this is where everything would look good here but then we would start doing the second phase which would be, let's go ahead now and let's see those numbers over time number one. So we're going to see that by going to camelcamelcamel or Keepa, and we're going to look at the history. Then from there, we're going to also look at Google Trends. So those are the other validation points for us that's going to take in pass it through to phase three which is then, let's go ahead and take everything into consideration and see if this is something that we want to actually launch and if it's worth doing. So anyway, that's what we're going to do on that to phase. But yeah, I think everything right here pushes it to phase two. I think this passes as well.

Okay now, let's go through and look at the third example. This example here, and this one here actually gave us the average sales, average rank and average price on the screenshot that they submitted inside the class. So basically average sale is 603 out of all of these which is looks like about 16. And then average sales rank is 5,800 I don't really care about that right now, average price is $18.65 and the average review is 88. So let's kind of dissect that a little bit. Position number one $11.99, boom. I don't I don't care about that one again, guys. No, that one there is like yeah, it's selling a 1095, 594 reviews but $11.99 I'm not interested. The next one is $19.99 and it’s…

[00:21:51] Chris: That’s got my attention.

[00:21:51] Scott: That's got my attention, it’s 899 sales it's only got one 119 reviews. Boom, I'm interested. The next one, third position, is $11.50. Not interested but let's just entertain ourselves and say how many sales. 3,729. Holy Cow, 206 reviews. So there's definitely demand here if that product is similar to the one $19.99 one. Let's move on to position number four, $24.95, got my attention. 406 sales with 54 reviews. I'm interested in that. It's checking out for me. $21.95 in position number five, 1,505 sales 92 reviews four and a half stars I'm definitely interested in that. Jump to the next one, $15.99. I’m semi-interested in that. I think we could play with that. Who knows? Maybe they are testing a price right now. 419 sales, 145 reviews. Then we got another one here which isn't in the same category.

So I'm not sure that I would even use that as something that I would gauge this so I probably skip over that one right now unless I looked at and I go, “Oh, yeah. It is the same product it's just in a different category.” But that one there is estimating, it's $21.99 and it's estimated 354 sales with one review. So I think there that might be a newer product that might have launched, it might be in the wrong category, don't know. And then the next one is $12.99, I'm not really interested in that one, it had 220 sales but I'm not interested in that one. The next one is $26.99, that has my attention, 741 sales and 63 reviews. So I'm interested in those ones that are above $19, so all of those definitely check out for me and the reviews. So then, again, this would push it to phase two. Chris, anything you want to mention on that one?

[00:23:39] Chris: I think you just you hit the nail on the head there Scott, just looking at the ones that meet that like $19 to $45 criteria, it looks like there is demand there. Now, it's on the lower end of what we like to see even with 1,300 sales on the because you're only talking about four or five products in this range that are hitting those numbers. But if the lower priced ones are the same thing. If all of these are garlic presses and you also are meeting that demand at the higher price point, then this is a no brainer for me. And, correct me if this doesn't make any sense or just let me know if it doesn't get sense. But, what I'm talking about here is like the whole market. So all of the garlic presses clearly hits the demand. Because the ones that are selling for 11 or 12 bucks are 4,000 just in the first two. 4,000 almost 5,000.

Everything else also appears to meet that demand. But even when you just look at the ones that are in that 19 to 45 range they're hitting at the sales volume that we like to see on the lower end. So as long as this product is all related, the demand here is huge because you're hitting that with just four or five but you're also hitting that with the lower priced ones as well. So there's potentially a lot of room in this market to play at different price points which is something that's very interesting to me, especially because we can make it happen at that higher price point.

[00:25:03] Scott: Absolutely, yeah, some good points. All right, so let's go ahead and skip to the next one and this looks very similar that's why I'm kind of going back and forth, but it's not. This one here is different, same category but it is it's a little different. So all right let's kind of rip through this here. So, we've got basically, again, I'm looking at price and it looks like this one here of all but maybe one or two are above $19. So it looks like position one, two, three, five, six, eight, nine, ten, eleven, twelve, thirteen, fourteen, fifteen all are above $19.

They range from $19.64 to about $32.99 actually. So let's just kind of go down here. So we got $19.64 as position number one, and it's 1120 sales with 1566 reviews, boom. No, I don't like that one, that one there scares me. It's too much competition. But, big but, let's move to position number two. $23.21, more expensive. Eight hundred seventy-two sales at 341 reviews got my attention.

Next one, third position, $19.98, 862 two sales, with 675 reviews. It’s a little high in the reviews, okay? So let's jump down to the next one. Number four is $12.95 so I’m going to skip that one, I’m going to go to $19.99 that's in position number five. 4,000 sales Chris, at 328 reviews. So, it's still okay, it's still not out of reach but it's still a little high on the reviews. Then $16.85 is an exposition which is 643 sales at 90 reviews, and then we've got another one that's $9.99 so I’m going to skip that one and we’re going to go to the next one which $25.49 with 245 sales at 164 reviews. And then we've got $22.99, and the next one for 297 at eight reviews. And then $22.99 at 468 sales at 25 reviews.

So, it seems like it's okay but I'm a little unsure because I see some of the bigger players have more reviews and I'm not quite sure on the other ones I'd have to see that they're apples to apples, that we're basing that off of that. So this one here, I wouldn't be as excited about because there are some other big players that I think are going to take some of that market share. Because 4,000 of them are being taken up 1,100 of them are being taken up at 872, and they all have higher reviews. What’s your thoughts, Chris?

[00:27:35] Chris: And that is something that I see here as well, you have a lot of depth in terms of sales but it is fairly top heavy. It kind of falls off, it goes 643 after you get to that number five listing, 643, 88, 247. That depth starts to really fall off those top four or five guys are crushing it but they're also a lot more competitive, ‘in terms of reviews.’ Now, something that sticks out to me here is the top seller is actually the fifth listing on this page. So there may actually be a different way of describing this product.

Take a look at the title on that number five guy and see if they're using a different keyword than the other people because there may actually be a different set of search results that come up when you search for that and not a lot of times where you see more competitive listings like this, can actually save a product idea for you just by marketing into something different.

[00:28:33] Scott: Yeah, I like that Chris. I want to highlight that really quickly what you just said, I think that's important. What Chris is talking about is at $19.64, that's position number one for this search term or this keyword. Let's say it's stainless steel garlic press or let's just say it's garlic press. So garlic press could also be plastic ones, it could be rubber handle ones, it could be all these different kinds.

It's not as specific, and maybe people are looking for it but maybe more people are searching for stainless steel garlic press and if you search for stainless steel garlic press, the one that's position one, two, three, four or five that's selling 4,009 maybe that's the keyword that they're showing up position number one. So you might be looking at this thinking of the keyword that they're being ranked for but realistically it's a different keyword. So, hopefully that makes sense. So, you can kind of look at that listing that's doing 4,000 and go, “They're getting traffic somewhere else and it might not be from this keyword.” Although another little side tip, it could be because they have their own email list and they're driving traffic there, I don't know that.

[00:29:37] Chris: But it's worth diving in and taking a look at especially at this phase because if, if you're going to say, “Okay, well, I'm not going to do this because it's too competitive it may not be if you use the other way of describing that product. So it's worth taking the extra 30 seconds to figure out why they're showing up lower on the page than they should be.

[00:29:56] Scott: Yeah, absolutely. Okay, cool, let's move on to the next one. So the next one we have 13 results that came up and I'm going to just kind of run through these quickly, Chris. So I think people are understanding what's happening here. But this one here $39.80 position number one, 465 sales, 40 reviews, a four star rating. Got my attention. Let's move to the next one. The next one, for some reason, the price is not showing up in Jungle Scout so sometimes that happens for whatever reason, not quite sure but I would probably skip that one then. Number three, position number three is $29.80, 606 sales with 53 reviews at four star. We've got a position number four, $23.50 sales for at 731 sales at 175 reviews, four-star review.

Then we've got position number five, $29.99, 91 sales so not that great. 26 reviews, 3.5 star rating. And then position number six is $26.92, 283 sales at 439 reviews, four star. Then position number seven is 3680 it sells for 314 sales at 67 reviews at four-star rating. And then from there, eight positions and nine positions are similar $35.50 and $35.99, 175 sales, 321 sales and then 16 reviews and 9 reviews 3.5 and 4.5 stars.

Here's my first thought, it's a higher price point which is great. I'm interested. I also see that the sales are not like, they're not like wowing me but it's a higher price point. So if I'm going to make $15 per unit, I might be willing to go less on how many units I need to sell per month. It might only be, I have to be 175 or 280, whatever it is. The one thing that's really, exciting in a sense, is that a lot of these are selling and they have a four star or three and a half star rating. So if I can make those problems go away from whatever they're describing, I can probably do better than all these guys put together. So I might be able to take and be the one that's at the top that's grabbing 500 or 600 sales now because people are wanting to buy the better quality one. Does that make sense Chris?

[00:32:09] Chris: It does. And looking at the price point this gets me very excited for the exact reason you just described. Yes, the sales demand is definitely lower than where we would like to have it ideally. It's on the lower end of okay, in my mind. It's not great but it's not terrible. There's a couple people selling double or almost triple what we want to see and then a couple of people selling just a handful. But if we can be in that higher price point like number nine, $35, 321 sales, right? If we can source that product for 10 or 15 bucks, we're going to make $15 or $20 a sale.

And you're still going to hit your 10 a day. So you’re are going to make 200 a day instead of 100 a day. So it's going to come down to whether or not you can source it right and whether or not you can improve what's already there. Like that number nine guy is who I would be looking at to figure out what's right, what's wrong, and if I can source a similar product because he's three and a half stars, 321, and $35. Right? If we can figure out how to knock him out, we're going to be competitive with these other products as well and take some of their share.

[00:33:20] Scott: Yeah, that’s a great point I'm actually… I'm actually looking down even further a position number 13 and it sells for $45.99. They've only had 25 sales but they've had 25 sales, $1,150 in revenue with one review and a one star rating and they're still selling 25. That's kind of crazy. Then like you said Chris, if I look at even this one here, this is kind of crazy. Position number 11 has $33.98, that’s what they are selling it for, with 61 sales. So only 61 sales, $2,000 a month in revenue, with two reviews and a three star. So again, there's definitely people that are willing to buy this even at a low rating and a low number of reviews. So that tells me that if you want to put in the time and figure out how to make that product better and have those problems go away that people are complaining about, then you can probably take over most of this demand.

Now again, like you said Chris, there’s not a ton of depth here. But, if collectively you were to take in and grab two or three of these and combine them then you're going to be definitely where you want to be in you have a higher price point item. As long as you're not spending $15 to source this thing. We're talking if you're selling it for $35 you want to be able to source that for between $7 and probably at the most $9. I'd say if you went as high as $10 you could but you want to make sure that that price point at $35 is going to stick you don't have to come down to $29.99. So you want give yourself some room there. The max would $10 probably landed because after fees and everything you're going to be probably up around $16, $17.

So, that was an interesting one. But, again before I go to the next one, the more important thing you have to ask yourself here is can you make the product better? Because if you're going to launch the same thing, you're going to have the same ratings, you’re going to have the same negative reviews, you're going to have, somewhat lower sales and it's probably just not going to be worth it.

[00:35:22] Scott: So are you willing to make it a better product? Okay, let's jump to the next one. And this looks decent. Let's run through the numbers here quick. We got thirteen results that show up here on this screenshot and position number one is $21.85, 452 sales with 35 reviews, 4.5 star rating. That’s fine, that's great. Number two, $19.99, 1041 sales, 165 reviews, 4.5 star. Boom, like it.

Number three, $17.94, 1408 sales, 149 reviews, 4.5 stars. Check, I like it. Number four position showed up as reviews and rating but no revenue or sales but it said it sold for $18.92 so I'm going to just exclude that one for right now. Position number five is $21.80, 92 sales with 15 reviews. So that one there, I don't like that one for some reason I don't know why that one's not selling. Maybe it's not the same type of product, who knows? And then position over six is $19, 529 sales at 46 reviews, 4.5 stars. So that's up to position six. Position seven I'm not going to use because it’s $11.50. Position or eight is $24.95 with 1020 sales, 138 reviews, 4.5 star.

And then at number nine is $18.95 with 1006 sales and then 475 of reviews which is kind of high at four star. I can go one more. If we want position number 10 we have $25, 446 sales with 38 reviews at a 4.5 star. So, this kind of looks okay. There is definitely some depth there and there is some demand because we're looking at, if we were to combine position one, two, three, six, eight, nine, ten, we're well over probably 4,000 units being sold.

[00:37:17] Chris: Oh, you're at almost six.

[00:37:19] Scott: Almost six? Okay. So let's call it let's call it 5,000 at least and our reviews, the highest review out of that batch is under 165 and then after that, they're all under 150 and 4.5 star, 4 star. So, this one here, I like it. I would definitely take this to phase two. What about you, Chris?

[00:37:45] Scott: I would as well and the thing that really sticks out to me here is, the price point is spot on where we want to see it, the number of reviews is super low although the products are rated fairly well which is good you might not have to make a ton of changes to make a product that stands out. But the other thing, number eight and number nine selling a thousand units at the eight and nine spot, they are again, might be another way to describe or to talk about this product, so it's something we're going to want to take a look at to see if we market it differently, does the sales going still look the same.

[00:38:14] Scott: Yeah, absolutely. And I agree 100% with that because eight and nine have a thousand plus sales and they're ranking eight and nine. So that tells me that they're probably ranking for other keywords and it would be nice to kind of figure those out, so we would want to dig into that as well. So, yeah, that's a great point I want to highlight that because that's important. All right, let's go ahead and do another one here. This one here has seven results, will buzz through this really quickly because you guys are starting to understand the flow here. Number one is $39.99, love the price point.

1094 sales with five reviews, love that. Let's kind of look a little further here. Number two, $32.99, 2192 sales, seven reviews with a 3.5 star. Crazy. And also just to point this out, $72,000 in revenue generated from that product. Position number three, $49, 833 sales at 29 reviews, 4.5 stars. And then number four, is $22.46, 405 sales, that one has 222 reviews, four and a half stars. And then number five has $38.98, 1128 sales with 3 reviews and a five rating, a five star.

And then number six, $15.85. So, not really, maybe that's not even the same type of product.  72 sales, 23 reviews. And then the last one, this one's interesting, position number seven is $31.97, 619 sales, 8 reviews and get this, 2.5 and…

[00:39:47] Chris: And is merchant fulfilled.

[00:39:48] Scott: Merchant fulfilled. Yeah, Chris, would we take this one to phase two?

[00:39:53] Chris: This one to me is a no brainer.

[00:39:54] Scott: No brainer. Yeah, no brainer we're going to take that to phase two and we're going to start doing some research and we're going to definitely look at those two and a halves and three and a halves even the four and a half stars and we're going to look and see what people are complaining about, because this has definitely got some depth and demand and it's got a great price point and the review is not that competitive. The highest one is 222, after that the highest one is 29. So, yeah, I’m loving that one. So, yeah I go with that one, phase two. We got two more.

So let's kind of run through this one really quickly. This one here has let's see, position number one, is $44.99, 1340 sales, 812 reviews. $45.99, position number two, 390 sales, 113 reviews, 4.5 star. $34.99 is position three, 1,332 sales and 323 reviews. $29.95 is the next position, 1776 sales, 795 reviews. And then the next one is $23.99, 924 sales, 28 reviews, that’s better. And then $25.48, 403 sales at 2297 for reviews. So I'm going to stop right there. Too many reviews for me Chris. I'm already thinking about I’m bailing on this. What’s your thoughts?

[00:41:18] Chris: I'm curious to see Scott because if you jump down there, $58.99, 80 sales yeah, 53 reviews. $17.99, 433 sales, 66 reviews. So, towards the bottom of the search result, you actually see different price points. $54.99, 405 sales, 300 reviews. The reviews are on the higher end. To me if this is a product that you're launching as your second or third product, and you have a list then it's probably a no brainer. Because you can start to drive those sales. But, I would probably not launch this as my first product for a couple reasons.

One, the higher price point is great but it also means a higher cost per unit. At $44 or $45, $58, $99, you're going to be paying more per unit which means you can buy less inventory. So if it does take off for you, you're going to sell through your inventory very fast and you're going to have a lot of headaches along that route. The other thing that I would say is that number of reviews would probably deter me from this product.

[00:42:22] Scott: Unless, like you said.

[00:42:24] Chris: Unless I have that list where I know I can drive some traffic in the beginning, get routed, because if I can get 72, 66, 100 reviews off the bat then I'm going to be absolutely competitive. But trying to do this with PPC would be very difficult.

[00:42:39] Scott: Yeah, yeah. And whenever you have a higher price point, it's always attractive but you also have to understand that there's more cost upfront associated with that, and when you… Think about this too Chris, let's say that you do launch the product and you start getting some refunds, those are refunds and it's a bigger hit than a $5 per unit cost when you're talking a $25 or a $30 cost. But there is obviously more reward when you have a higher price point product. My concern here is that in the first like, well, I guess the first two it's $45 and $44, then it goes to $29 and $23, and $34. But like the $99 it's probably not the same product. Now, $54.99 could be but probably not. And the other ones that are towards the bottom end are $18.99 and 22. So, to me, I'd have to know that these products…

[00:43:29] Chris: You need to know what the product is.

[00:43:30] Scott: Yeah, you have to know what the product is because we could be talking about something that if you knew the product you're like, yeah, the reason why those other ones are selling so well because it's not the same type of product or maybe it has something extra that the other ones don't have that you would buy and you wouldn’t by the other one regardless. So again, like you said Chris, for a second product I think yes, but again, you'd have to do that research, you'd have to see that it's going to align. You’re going to also want to see that you're not competing with 2,297 review. So, that would be my recommendation and I know Chris you kind of just said pretty much the same thing. It’s just you want to take it a little bit further on a second or third product.

All right, this will be the last one that we'll cover here. This here again, let me just kind of… I'm going to kind of scroll through here kind of quick. I'm looking at the price point, it's a little bit all over the place. I see $26.49, $15.38, $13.41, then $29.95, $29.99, $23.99, $17, $54, $23, $12, $19, $34, $10, $39. So this clearly tells me that there's some different types of products being brought through here. So the number one I would need to know that we're talking like, all the ones that are 426 and $29 and $23, they're all similar products. The other ones we're going to rule out. So if that was the case, I'm going to look at the number one spot here at $26.49. It’s 527 with 643 reviews. And then let's go to another one.

$29.95 that’s position number four, has 425 sales with 470 reviews. And then let's look at another one here. $23.99, 449 sales, 239 reviews, and then this next one is $17 and it sales 1400, but it’s got 5274 reviews. And then the next one is $54.99. So again, it’s all over the place. In order to take this one further, we'd have to actually whittle this down and only display the ones that we're thinking about competing with.

[00:45:33] Chris: Let's assume for a second that all of these are the same exact products. This one I think has the same kind of issue that the other one had. You are on the higher end of where I would feel comfortable launching a product and competing with those reviews, again, obviously with the exception of having a list where I know I can just drive sales anytime I need them. But, the more competitive people here in that top half are much, much deeper in terms of reviews and the sales volume to me, is kind of on the lower end of where I would want to see it especially with how competitive it is. Does that make sense?

[00:46:05] Scott: Yeah, well, and I'm going to look at this right here. Like, so if we look at the one that has the most reviews, 5274, they are selling 1418. If I go to the only one that only has 116 reviews, they are selling 159. So it looks like it’s definitely driven by reviews at a first glance. I'm looking at well, and I look at this one here and it has 514 reviews and it has 117 sales. But it's $54.99 too. So that could be driving the sales down. So, there's all of those things that you have to consider. This one here looks a little jumbled to me because number one, it's all over the place. The price is all over the place, the reviews are all over the place.

We'd have to get the price down to where we knew that we're competing with a similar product, and then we'd have to look at the reviews and see if that was something that we would want to kind of go after. If we were looking at this and we were saying okay, we narrowed it down to six or seven listings, they're all price similar and they all have 600 or more reviews or 500 or more, then I'm out of there, I'm not even going to compete with that. To me I'm thinking just by looking at this that's probably the case.

So I would probably lean towards not going in this direction but again you'd have to do that research and that digging to actually know that. And you would know that on your first pass here though. Like in phase one that we are in right now, you would do that, you would whittle that down and only, only look at the numbers on the products that you think that you're going to be competing with. So, you would do that in phase in phase one. So Chris, I think that about wraps it up. Man, that was awesome that was really good actually. I think that it really does help walking through some of these screenshots because you can kind of see exactly what we're looking at, and then also some things to consider. So, is there anything you want to wrap up with here before we wrap up this session?

[00:47:54] Chris: I think that about wraps it up. Like you said one thing I would say is if you guys do have a question on a screenshot, you can always feel free to submit it inside of the Facebook group and we'll take a look at it with you. But I think if you watch through this video which you did if you're listening to this then you'll have a pretty good idea of how Scott and I look at it, and you can evaluate that on your own. But the Facebook group is always a good place to go to get feedback, and that’s a great way to start getting interaction there for you, and to start to meet some other people that you may bond with over something like this.

These types of posts in the Facebook group lead to a lot of interaction between people, and so I think if you have a question about your particular search results, don't hesitate to post them there. It's always interesting to see the different feedback that we get from people. But you should have a good idea of how Scott and I look at these after watching through this and, quite honestly, most of the ones that you guys submitted for this looked pretty good with the exception of the last two. And even the last you had enough depth which is a great thing to see.

[00:48:55] Scott: Yeah, no. I agree 100% that go in the Facebook group it's there for you guys, as a community and really dilemma on because as we go through this and as you do this, you're going to learn through that process of kind of like, in your own workflow to have your own workflow I think is key. And you're going to get better it, you're going to get quicker at it and you're going to start to pull out the points that are going to really call out to you so this way here as you're going through that, you can whittle it down quicker and then get through more of these because it's going to take time to get through these before you end up saying like, “Okay, I think I've got something here.”

And then, again, it just comes down to even the second, the third, the fourth, the fifth product. It's going to come in into play when you go and start looking for those other products. And, I would say, even if you've already launched, you want to be doing this stuff on a regular basis and just keep compiling your list. And then the funny thing is when you do that list, you might come back to it in six months and then you may have to re-evaluate those numbers again, and that's another great way for you to kind of see if what you had picked before, if you had went with it, how well would it have done if you had the capital to do it?

So, it's again a way for you to almost pick it, without picking it, and then seeing how well it does or it would have done. Then from there, you can decide if you even still want to jump into the game with that product.

Okay, I hope that you enjoyed that deep dive into those nine live product reviews that we did. I think going through it, you can kind of start to see there's a little of a pattern on how we kind of dissect a product or just the data coming in and then when we decide to push it to phase two. I wanted to share this with you. Like I said, I wanted you guys to get more of an understanding on what it takes. It's not just going to be like you're going to just find this one product and everything is going to work every single time.

[00:50:45] Scott: And I want you guys to understand also that there's things to look for and there's things to look at when you're looking through them or through the data and the details. I also want to show you the process. Because this is exactly what we do inside of our class and I just want to kind of give you a little bit of a sneak peek too. So, if you are interested in checking out our class head over to privatelabelclassroom.com, all the details will be there, and by the time you listen to this, there could be something else happening over there so you might want to go check that out. Some really cool things on the horizon here for us that I am totally, totally pumped for and yeah, really excited for you guys all have to hear it.

If you guys want to download the show notes or actually watch this video of this training, you can head over to theamazingseller.com/395 and all the goodies will be over there for you. All right guys, so that is going to wrap up this episode.

Remember as always, I’m here for you, I believe in you and I am rooting for you but you have to, you have to… Come on say it with me, say it loud, say it proud, let's say it with some energy today, “Take action.” Have an awesome, amazing day and I’ll see you right back here on the next episode.

[END]

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