Are you ready to start your Amazon business in 2020? Or perhaps launch a new product? Wherever you are in your Amazon journey, we’ve got you covered with our Perfect Product Vision 4-part video series. This will help show you exactly what profitable product you can private label to sell in the year 2020.
What Will You Learn?
In this 4-part video series, you will learn how to find, assess, differentiate, and optimize a product to launch on the Amazon marketplace. The ZonGuru team and five expert million dollar sellers will walk you through the step-by-step process of how they use data and business expertise to find the perfect product to launch in 2020. An exciting year is ahead!
Below we’ll explain the high-level view of what you will gain from having 2020 Perfect Product Vision… this is definitely something you don’t want to miss!
4-Part Video Series:
Part 1 – The Evolution of the Amazon marketplace and How to Use The Data-Centric Approach to Finding Products
As we all know, the Amazon marketplace is evolving all the time with more sellers jumping on board to start their own eCommerce business. If you think that starting an Amazon business in 2020 isn’t going to be profitable, think again! When you have the right tools, data, and mindset, you can still thrive in the competitive marketplace.
Pro Tip: Instead of going for the red ocean where competition and product search volume is high, you’d want to aim for the blue ocean where competition is low with search volume still in the middle range to drive higher conversions.
There are many ways to find your potential products to sell on Amazon but the best way is to use data-driven metrics to find opportunities. Using KWOF, you will discover the hottest keywords for search volume, relevancy, and competition level. The main goal is to dive into the blue ocean and search for products with mid-search volume and medium competition.
Here’s the 5-step process you can follow using Keywords on Fire (Let’s call it KWOF) in finding profitable products.
Step 1- Enter Buyer Phrase
The first step is to add products using phrases or keywords in the “Add product by phrases” section shown above. Click on the “Search” button and add a name for your session then click on the “Run Keyword Analysis” button.
Step 2 – Check The Scan Results
Powerful data provided by KWOF include monthly revenue generated by these keywords, keyword search volume, average number of reviews for top 25 products ranking for these keywords, average number of units sold for these keywords, and many more.
Step 3 – Leverage on Filters
Filter the data according to one of our 7-figure Amazon seller guests, Chris Im, sharing his product discovery strategy. You will learn his techniques to filter, sort, and discover profitable products to sell on Amazon.
Step 4 – Pick Ideas
Once you have filtered the products, you’d want to start with a product to assess. Check the estimated combined monthly revenue, product reviews, search volume, and also the prices when you are assessing the product. Again, you can follow and use the methods suggested by Chris.
Step 5 – Validate Idea
Once you have chosen a product, it’s time to assess the niche opportunity using Chrome Extension and Sale Spy tools. You need to validate the chosen product using our Chrome Extension tool to get an inside look at product prices, bestseller ranks, reviews, ratings, estimated sales, and more for any listing on Amazon.
Part 2 – Unboxing Products and Product Differentiation Assessment
Part 2 of the video series focuses on how to drive traffic to your product listing and converting shoppers into customers.
You will also learn the strategy to differentiate your product from competitors. A great question to ask yourself is: “Why would customers choose my product over other competitors’ products?”. Make sure to spend some time to think about how you can differentiate your chosen product in Part 1 to thrive within the blue ocean.
Adam Hudson – from Reliable Education – shares his thoughts on product differentiation generally – and how it applies to the 2020 PPV case study. Adam has successfully launched more products and companies than we can count and his tips are always packed with gold nuggets! Below are just a few key points of product differentiation which you will learn from part two:
- Differentiation through functionality. Does the product do more? Is it more effective?
- Differentiation through visual appeal. Is the product smaller? Does it weigh less? Keep in mind that size and color are not enough to be considered as differentiation. Does the product look different, or connect with your avatar better? Creativity is key to visual differentiation.
- Differentiation through product packaging. It is vital that you do not overcapitalize and spend more than you should as this will lower your profit margin.
- Differentiation through product bundling. For instance, bundling two complementary products such as scented candles with candle accessories.
- Differentiation through customer connections such as product listing optimization, branding, and ads that customers can relate to.
- Differentiation by providing top-notch customer service.
- Differentiation through product design. How sturdy is your product? Be sure to avoid fatal flaws as that is a costly mistake.
A great tool to use to generate ideas around differentiation in your niche is the Love Hate tool. Love-Hate allows you to scan the niche to generate a concise report showing you exactly what buyers like and dislike about the product as shown in the screenshot below.
Part 3 – Listing Optimization, How to Maximize Traffic and Beat Your Competition
This video focuses on the importance of optimizing your product listing. In order to create a “Halo” effect, you need to target long-tail keywords in the beginning to get more sales conversions. Once you have generated steady sales from these long-tail keywords, Amazon will reward you with better rankings and display short-tail keywords for customer searches.
You will learn about the 5 key tools that will help you create the “Halo” effect to maximize sales.
1. Keywords on Fire – Generate a list of relevant keywords. Filter Long Tail keywords that are highly relevant to your product and make sure those keywords are inserted into your listing copy – you can even create a manual PPC campaign with these. Once you convert on those LT keywords Amazon’s algorithm will notice and begin to improve your rank for more competitive (higher demand) short-tail keywords.
2. Listing Optimizer – Analyze your product listing’s visibility for all key search terms making sure your product is seen by potential customers. Listing Optimizer will show you where your listing is exceptional – and where it might be falling short.
3. Keywords Spotlight – Extract your competitor’s backend listing copy so you can easily see what search terms they use to drive extra traffic. Pay attention to things like misspellings and colloquial terms that you competitor’s use to drive traffic. They might be using terms you’ve never thought of!
4. Keyword Tracker – You can use this tool to monitor your product rankings for important keywords. This is the best way to monitor the keyword “health” of each of your listings. Wave goodbye to manually performing keyword searches on Amazon!
5. ASIN Index Checker – Check to see if your product is being indexed for relevant keywords so your customers can find you. Keep in mind that the greater your product visibility, the more sales you can potentially generate.
Part 3 of the video series sees another 7-figure Amazon seller, Chris Eng, sharing his experiences and strategies that he plans on using in 2020 to stay a step ahead of his competition. Chris is also generous in sharing his tips to stay on page 1 through better product listing.
Part 4 – Listing and Business Management – Critical Expert Seller Tips to Running Your Amazon Business and Scaling it.
If there’s one key tip for you to take away then it has to be that managing your Amazon business is all about what is leftover, not what you’ve turned over. You need to know how much profit you are taking home after deducting all your costs so you can reinvest and scale your business.
In the final part of the 2020 Perfect Product Vision campaign, you will learn the 5 key components to managing your business:
1. Competitor Tracking – You need to be aware and understand what your competitors are doing and how their decisions will affect your business.
Pro Tip: Use Product Monitor to get email alerts whenever your listing receives a new review or hijack alert. IP Monitor protects your products from shady sellers trying to steal your intellectual property.
2. Profit Management – Knowing your Amazon business’s most important trends and metrics is vital so that you understand how well your business is performing and what needs to be changed for better performance. Leverage on Business Dashboard to easily analyze your Amazon business without having to go through multiple tabs in Seller Central.
3. Inventory Management – Never run out of stock again with the inventory management tool! Enter your COGS, manufacturer delivery and shipping times so you can manage your profits and re-order timelines effectively.
4. Customer Service Management – Great customer service means providing and making sure that your customers’ needs are met in a timely and attentive manner that reflects positively for your business. That being said, it is crucial that you utilize the Email Automator to build and nurture relationships with your customers, automatically.
5. Optimization Management – It is important that you optimize your product listings on a consistent basis to ensure that your business continues to grow and scale.
When you have a strategic plan, abundant data from Amazon, and tips from expert sellers, then you are going to be ahead of the game in finding the perfect products to sell on the Amazon marketplace.
If you’re looking to take your Amazon business to a new level in 2020 with all the new tricks and tools, then this is for you. Watch the 4-part perfect product video series HERE and don’t forget to comment and share your thoughts with us to win amazing prizes such as a lifetime ZonGuru subscription, Amazon gift cards, private consultation with Jon and Darren, and much more.
We hope you gained lots of insights and benefits from our 2020 Perfect Product Vision and we wish you the best of success selling on Amazon.