Which variables should we evaluate and document during the selection process?
In the process of selection, what variables we should focus on in order to reduce the useless work? How to improve the winning percentage of the election it?
The first step in the selection is to confirm the exact product key words. Different keywords determine the different direction of expression, whether your product is selected because of your personal preference or resource advantages, be sure to confirm the key words of the product at the first time. The keyword's range can not be too large, large Word does not help you to the precise direction, but not too subdivided also. too long tail keywords will make you misunderstand that the product market capacity is small or competition is moderate, these will make you make a misjudgement about the whole market.
Some products may have two or more keywords with similar weights at the same time. This also requires the seller to record the multiple keywords in the selection process and analyze the summaries separately in order to obtain more complete information.
For example, for the mobile power product, some people will use Power Bank customary, but in many consumers' minds, their first impression is Portable Charger, then the seller, in the process of keywords selection, "Power Bank" and "Portable Charger" are all objects that you need to evaluate.
2.Market capacity and competition degree
By searching keywords in the search field of Amazon, the number of search results can tell us the product's competitive degree. Listing Review quantity in the search results within the front 10-20 pages can also tell us Market Capacity of this Product to some extent(Generally speaking, I suggest that you can roughly estimate the previous sales volume by using the review number * 100 or using the date tool Sellerspirit).
When there are too many search results for one product, the competition is obvious fierce. When there is too few reviews for one product, the market capacity of the product is too small.
Of course, we can make further refinements in the evaluation of the number of search results and the number of reviews. for example, to further examine the number of search results that belong to Prime, and to refine the statistics of the sales and sales trends during the last three months.
3.Competitive product analysis
Each product selection process need to identify a number of competitors, may be 5-10, or more, but not too little. These competing offerings are not simply taken from the Top 100, but also beyond the Top 100, as well as the newly released Listings, which are fast-growing and are doing advertising. You could located your competitors in different ranking positions, so you can evaluate your sales .
4. Review analysis
The choice of any product is a process from unfamiliar to familiar with, and from outside to the professional. How to allow ourselves to quickly improve the professionalism of the product, and found the weakness ofour products? The reviews of the peer review are the important elements for our analysis. In analyzing the details of Review, we can gain some new insights into the product from different perspectives.
5.Supply chain and product quality assessment
In the selection process, the seller could not ignore the supply chain. Understanding the product cost, weight and other elements in order to assess the current market price of the case. Whether there is sufficient profit margin, the seller also needs to obtain product parameters and weight based on the supplier's product details page or communicate directly with the supplier, in order to assess their own FBA head freight and tail FBA costs. It is also convenient for us to consider the logistics options, such as FBA head.
If the profit margins are sufficient, and we really have strong confidence for our product, then we need to try to order samples from multiple suppliers. On the one hand, we evaluate supplier's strength and their customer service attitude, On the other hand, through the observation of the actual sample, test and trial to assess the quality of the product.
Of course, if after a series of above actions, you have a clearer understanding of the process, quality, supplier conditions, market conditions, profit conditions and other factors of a product, you have the answer. different stages.