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December 15, 2020

Episode 12: Amazon Product Research Technique

Sell Rank Win Ep. 12 Podcast Quick Tip: FBA Product Research

In This Episode

Looking for your next best-seller? Check out this “quick tip” podcast episode and video for the easiest way to find the most popular, new and trending searches on Amazon.

TRANSCRIPT

Tommy Beringer:

What's up, you data-hungry Amazon sellers? This is your host, Tommy Beringer of the Sell. Rank. Win. Podcast from MerchantWords. And in this podcast, we give you the answers to your most burning questions, actionable insights that you can take away and implement into your business today. So let's go ahead and dive right into today's episode. What do you say? Let's go.

In this podcast, I walk you through a method on how to get the product research juices flowing, and this applies to all size brands: large brands, medium-sized brands, and small brands. I also shot this on video, so if you want to see what I'm talking about here, you can go over to our YouTube channel and go under our Podcast section and you can see what I'm doing.

And just so you know, there is a free version of what I'm about to show you, so don't fret if you don't have a MerchantWords plan. You can go over to MerchantWords and follow along with what I am about to show you. So without further ado, let's go ahead and dive in.

What's going on, everyone? Welcome to the Sell Rank Win Podcast. I'm your host, Tommy Beringer, and in this episode, we're going to go over how to find some products within MerchantWords. And this is the way that I actually find products for my Amazon store, and it's an awesome way to do it. I love it. I use it every single time.

And there are three ways to do this.

If you are a bigger brand, like using that big-box brand model, selling on Amazon, where you're just selling everything under the sun, you don't care about the competition. You have a humongous budget, but you just want to release all the most popular products.

And then the second one is if you niche down a little bit into a category, and now you're just selling everything to a specific category. And for this example, I use an arts and crafts store, so for Michael's or Hobby Lobby or something like that.

And then the third use case is if you are a smaller seller or if you're just starting out and you want to find that first product, or if you want to find those products that people never even heard about but there is a hidden market for it. And there's some traffic to this market, but you just don't want too much traffic, because you don't want to have to fight off too many people, too many competitors, and spend a lot of money on PPC or have to drive outside traffic.

So let's dive into the first one here, but first, what you want to do is type in the asterisk into the [MerchantWords] search bar to bring up our Everything Search, as I call it, or Asterisk Search.

And, if you are listening to this right now on our podcast, you can also see what I'm doing visually if you go to our YouTube channel, our MerchantWords YouTube channel, and go under Podcasts. And you can see what I'm doing.

So, what you want to do is type in the asterisk (*) into the search bar, and what that's going to do is bring up every single keyword rank, from the highest-searched keyword all the way down to the very lowest-searched keyword. In this batch, we have over 108 million keywords, just in the US alone. That's where I'm looking at right now, is in the US. And the highest-searched keyword is Nintendo Switch, at about nine million searches a month, followed by face mask, then toilet paper, then LED lights, Apple Watch, hand sanitizer, and so on.

So if I was selling through that kind of big-box brand store mentality on Amazon, where I'm just selling everything under the sun, I don't care how much it costs. I have a lot of money. I have a big budget, and I'm just going to order a thousand of these things, just because I see an upward trend on them. Get them into Amazon. This is how you do it right here. This is how you find the products right here.

So if you just continue to scroll down, and then maybe there's something new you see that you don't know about. You just click into our Keyword History Analysis Panel, which is the bar graph icon to the left of the keyword, and then you can just check the trend on it. So if it is trending up, it's a good chance ... You're doing research here, and this is a calculated risk, of course, because you're doing your analysis on it. So for example, if I click on the bar graph icon for face mask for virus protection, for that keyword, I am seeing an upward trend here, and most likely because we are in the times of COVID-19 right now, the Coronavirus. Hope everyone is doing well. So that's why, most likely, there is an upward trend for this. And you can dig deeper in there, as well, by clicking onto related keywords and also hovering over the magnifying glass and looking into our Page One Products. So you can see all of the competition there on Amazon and then the reviews and pricing and all of that good stuff.

So this is what you want to do if you have a lot of money, a big budget, and you are doing that big-box brand model, using that model to sell on Amazon.

Now, the next one is if you niche down a bit into a category. So say if you're just selling baby products or if you're just selling home and kitchen products. And in this example, I'm using Arts and Crafts, the category Arts and Crafts. So all you have to do is click on our filter, if you are, in fact, selling in Arts and Crafts. So say I am using that, maybe Hobby Lobby or Michael's or something like that, a model within Amazon, and I'm selling just a specific arts and crafts brand. I would want to filter down this by category and select Arts and Crafts, and then I can see all of the newer things that are trending within this category alone.

So I can go ahead and cut it down by search volume, if I want, and also refine it by depth, if I'd want. Right now, this is from the highest-searched keyword, all the way down to the lowest-searched keyword in the category of Arts and Crafts, so the highest right now that I'm looking at is diamond painting, at 3.6 million searches a month. And you continue to go down the line here. And for example, say you see something trending up. I'm looking at this quarter-inch elastic for sewing, at around 700,000 searches a month. I'm going to click into the Keyword History Analysis Panel, which is that bar graph icon, and it is, in fact, trending up.

So maybe if I was selling, if I had a bunch of different SKUs in my arts and crafts line on Amazon, maybe this is something I want to add, because it has a huge upward trend, and it looks like a lot of people are looking for this on Amazon. So if I did have a bigger budget for my store that I'm selling to the Arts and Crafts category, I would order maybe 500 of these things, see how they do. Maybe 200. And then of course, if they do well, continue to order more, double down on that. And so yeah, that's how I would do it for a specific brand, selling to a specific category.

And now, if I was just a smaller seller or just one of those sellers just trying to find those super niche products, which this is what I do. I sell products on Amazon that people really don't think about. Something that I do not have to drive outside traffic to or compete too much on PPC, where my bids are low and I'm not spending an enormous amount of money on PPC. That's my strategy. That's what I do. So what you can do here is I refined by search volume from 1,000 all the way up to 30,000, and I selected 1,000 because anything under 1,000, it's not enough demand for me. But up to 30,000, I'm going to see some good demand there, without having to get into those markets where there's millions and millions of searches for the keywords connected to that market, because like I said, I don't want to compete with those other players that have products that have that much traffic being driven to them. I want to keep it small and to keep the competition away.

So that's why I selected 30,000. Or excuse me, 1,000 to 30,000, and you guys can play with these numbers. Don't always just choose what I choose. You can select 500 to 20,000 and continue to refine, and you can also refine down by depth, if you like, but this is how I start, is by search volume.

And now what I do is I just simply scroll down. And I did this earlier, so I found a keyword that looked interesting. And then what I do is I just simply scroll down, and if I see a keyword that is weird or just looks interesting ... Maybe it's a product that I've never heard about, something that looks weird or interesting. I always use those words. And I found it here. I checked it off. Here we go.

Okay, so melt-blown cloth. I have no idea what that is, so it was very interesting to me. So what I do is immediately I go into the keyword here. Let me uncheck it for now. So I'll go into the Keyword History Analysis Panel and check on the trend. So it's indeed trending up here, and then I can look at the related keywords. So why I go immediately to the related keywords from this, from after that step of checking the trend, is because I want to see how many roads are leading back to this product. How many keywords are in this keyword market?

And this is very important, because if there is a specific product that you can only describe one or two ways, then it will most likely fail, or it's going to have a ton of competition. You're just going to be bidding for those two top keywords. A good example is the angle-ized ruler. I don't know if you guys remember this product, but a ton of people launched this product and then miserably failed, and one of those people being me. I did launch the angle-ized ruler, but there's only one or two ways you can describe that product. So but it's okay. I failed with that product. I learned from it and I continued on. So you learn from your mistakes. You never lose. You always win or you learn, guys, right?

So right here in the related keywords, you can see that there are a good amount of keywords connected to the market, and make sure they are relevant. So melt-blown non-woven fabric, melt-blown filter fabric for mask. So polypropylene mask. So maybe that's another. That's like a synonym of this melt-blown, so that's another way someone's looking for this, right? And then what you can also do is let's go ahead and just type in, for example, melt-blown into the search. Melt-blown. And you're getting more broad now. You're getting more broad with the search. So you can see all of the keywords that are connected to the keyword, to the seed keyword, melt-blown, and there is a good amount here, guys. So that's something I really want to see.

And now, the next thing I want to see is do these keywords ... All of these keywords that are in the keyword market, do they add up to a sum of at least 50,000 searches a month? So right away, off the top, the first two do that for me, and then there's a bunch of different keywords here that are going to give me ancillary sales. And then what you can do is even do a further search on this and click on our See Related Terms, which opens up our Keyword Multiplier, and you're going to see even more keywords that are going to be connected to this keyword market.

So this, right off the top, meets my criteria of having at least, I'd say, around eight, nine, 10 keywords leading, that I can use for PPC or for my SEO on my listing, that are going to help lead the buyer to my product. And then also, it adds up to around 50,000 searches or more, so that makes it for me for that one. And then what you can also do now, to further your research, is to search the highest-searched keyword within this keyword market, which seems to be melt-blown filter in our Page One Products Tools. So if you hover over the magnifying glass, click on Search Page One Search Results. It's going to bring up all of the keywords that are showing up. Or excuse me, all of the products that are showing up on page one for this keyword melt-blown filter. And you can see what it is. Here, you can check the prices. It's a pretty good price point here. The average price is about $18, and then the reviews are pretty low.

I'm doing this on the fly here. This actually is meeting a lot of criteria here. Maybe you guys want to check out this product and launch it. Who knows? But everything is checking my boxes here, right off the top, for a product that I can launch. And what I would do ... If, say, I finally reached out to my sourcing agent or to my manufacturers and I said, "Hey, I need to get some pricing on about 200 units of this melt-blown non-oven cloth." And then if I get a price, say, okay, for 200, it's going to be two dollars a unit. Well, that will definitely do it for me, because I can sell it for around $18 a unit. But do some more due diligence. I'm just doing this off the top right now, and there is a little bit more research that you have to do. See, there's 40-packs here at 20 pieces. Maybe there's different sizes. So make sure everything is going to be relevant to what you're going to order, but I always do a test order.

So if I see something that I like, I'll always do a test order of about 100 units, 200 units, and if they sell out, then I double down on that. Then order 400, 500, 600. Then double down on that and continue to scale within that product. And if they don't sell out, then you have to get rid of them. Have Amazon burn them, whatever they do with them, or you could just have to liquidate them somehow.

So those are all the use cases for our asterisk search here, and guys, this is such a wonderful way to get started in the product research stage. Like I said, I have found most of my products here, using this specific strategy. Well, this one, not the big-box one, but the one where you niche down a bit here and find those products by refining down that big haystack of keywords that we give you, from the highest search, all the way down to the lowest search. And this is a great, awesome way to find some products.

So again, guys, thank you for joining the Sell. Rank. Win. Podcast. If you guys have any questions, please feel free to reach out to us at [email protected] or comment below this video. All right guys, till next time, stay awesome and be awesome. Thanks.

All right, thank you guys so much for listening, and if you got any value out of this podcast at all, please let us know at the place that you listened to it at, whether it be iTunes, Stitcher, whatever it is. Give us some love. Give us an awesome review and let us know maybe some things you want us to talk about on the next podcast. Till next time, guys, stay awesome and be awesome.

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