#525 – Find New Products with the Amazon Product Opportunity Explorer

37 minute read

Published: January 9, 2024

Modified: January 12, 2024

Imagine unlocking the secrets of Amazon’s new cool data tools with the help of an insider. That’s precisely what we did in our latest episode as an Amazon Product Opportunity Explorer team member joined us to spill the beans on how sellers can mine Amazon’s data for hidden gems. We showed the Black Box tool by Helium 10, marveling at how it works in harmony with Amazon’s own treasure trove of information to pinpoint profitable product niches. Our guest Yi Zhen also shared her inspiring climb from intern to account manager at Amazon Singapore.

Amazon sellers, get ready to have your minds blown by the power of Amazon’s Marketplace Product Guidance and Category Insights tools. We took a stroll through Seller Central’s Category Insights and discussed the ‘golden data’ at your fingertips, data that can guide you to high-demand product categories ripe for the picking. The episode peeled back the curtain on critical sales and search data metrics, providing listeners with a toolkit for making savvy decisions that could propel their Amazon ventures to new heights.

Wrapping up with a masterclass in product validation, we outlined how to sift through the noise and hone in on opportunities that not only look good on paper but can actually translate into profits. Our conversation illuminated the strategic use of the Product Opportunity Explorer to validate product choices and identify niches with less competition and higher potential earnings. And for those feeling the pinch of low search conversion rates, we shed light on how these metrics can sharpen your advertising strategies, giving you the edge in a fiercely competitive market. But wait, this episode is so good we had to cut it into two parts! So stay tuned for part 2!

In episode 525 of the Serious Sellers Podcast, Bradley and Yi discuss:

00:00 – Leveraging Amazon Data for Product Opportunity
08:51 – Unmet Customer Demands and Category Insights
09:49 – Understanding Category Insights in Seller Central
13:48 – Product Analysis and Seller Considerations
15:32 – Product Positioning and Discovering New Types
17:31 – Exploring Product Opportunities and Niche Selection
25:21 – Using Product Opportunity Explorer for Validation
28:25 – Product Opportunity Exploration and Validation
34:50 – Low Search Conversions and Brand Analytics
35:15 – High Conversion Search Term

Transcript

Bradley Sutton:

Today we’ve got somebody from Amazon who works on the Product Opportunity Explorer team to do a deep dive in how sellers can use this Amazon data to find new product opportunity, and there was so much good stuff in this episode that we actually had to split it into two episodes. How cool is that? Pretty cool, I think. Black Box by Helium 10 houses the largest database of Amazon products and keywords in the world. Outside of Amazon itself, we have over 2 billion products and many millions more keywords from different Amazon marketplaces, from USA to Australia to Germany and more. Use our powerful filters to search through this database for pockets of opportunity that you might want to get into with your first or next product to sell on Amazon. For more information, go to h10.me/blackbox. Don’t forget you can save 10% off for life on Helium 10 by using our special code SSP10.

Bradley Sutton:

Hello everybody and welcome to another episode of the Serious Sellers podcast by Helium 10. I’m your host, Bradley Sutton, and this is the show. That’s a completely BS free, unscripted and unrehearsed organic conversation about serious strategies for serious sellers of any level in the e-commerce world, and we’ve got somebody who’s helping serious sellers from the other side of the world. I’ve met her a couple times now when I’ve spoken at Amazon Singapore events, and I really liked her presentation on some unique things. I’m like hey, I want you to come on to the podcast, be the first person from Amazon Singapore on our podcast. So, Yi Zhen, welcome to the show.

Yi:

Thanks Bradley for having me here. When Bradley was at the Seller’s Meet this year, he literally just asked me like hey, do you want to come on a podcast with me? So I was like really caught off guard because my presentation was before his right. So I was like maybe, and now I’m here.

Bradley Sutton:

I don’t take, I don’t take, maybe I don’t take, maybe I only take yes as the answer. Yeah, when I’m in Japan and Korea for my trip.

Yi:

Bradley’s like when are we going to have our podcast?

Bradley Sutton:

So it’s always bothering her on her vacation. Always on my mind. Yep, yep, you know it. You know we’re going to talk about that a little bit, but I want to go back. I don’t know too much about like your backstory. Were you born and raised in Singapore?

Yi:

Yes, born and raised in Singapore like a true blood Singaporean.

Bradley Sutton:

Did you go to university also in Singapore?

Yi:

Yes, in Singapore, actually, I went to Nan Yang Technological University.

Bradley Sutton:

Yeah, then and what did you study there? Business so now I’m helping sellers to run their business. Yeah, and was Amazon your first job out of university or do you work doing other things?

Yi:

Actually it is, and in fact I was intern here, so I actually got converted to a full-time account manager, living the dream.

Bradley Sutton:

University to intern, to full-time employee, one of the top ones in the product opportunity explorer department. Oh, my goodness, what was your favorite part of your trip? I love travel myself, and you went to the same, exact same countries that I just did recently. What did you like the most?

Yi:

Wow, I actually love Mount Fuji the most. It’s like so magnificent. Every time you just see it in like the pictures and everything, you’re like, oh it’s just another mountain. But it just hits different when you’re there yourself. And I think I was lucky because I could see the full Mount Fuji. A couple of like our colleagues, you know, like even two so she mentioned that she haven’t had a chance to see like the full Mount Fuji before, even though she has been there a few times. So I consider myself quite lucky. And of course, the food there is great, thanks to Bradley’s suggestions.

Bradley Sutton:

Alright, awesome, awesome. You got to go to some of those places. I love it. Yeah, now are you a Korean drama fan?

Yi:

Of course Okay, so that’s why on the Korean.

Bradley Sutton:

When you went to Korea I saw you and your husband were wearing like the school uniforms when you went to the photo shoots and stuff.

Yi:

Yeah, so we actually went to have our wedding photo shoot at one of the abandoned team parks where most of the Korean dramas are filmed there.

Bradley Sutton:

Nice Real life Korean drama Alright. Well, we’re not here. I mean, I could have a whole episode about Korean drama and travel for sure, I could have two episodes about that, probably but we’re here to talk about some cool stuff that you know, like, I think, a lot of our listeners. Of course, they use Helium 10, and what but people don’t realize is number one. You can use Helium 10 with a lot of the amazing data that Amazon has given and have even more advantage. Or maybe you’re not ready for Helium 10 yet. There’s stuff that everybody, including people who don’t even have brand registry which, by the way, everybody should have brand registry but even if you don’t, for whatever reason, there’s some cool information that Amazon has available and this is stuff that you know. Like six years ago, seven years ago, when I was first getting into Amazon, I would have never, ever, ever, ever imagined that Amazon would make this kind of data public and and it’s kind of, it’s kind of crazy, you know. So I want to make sure that people Kind of like know about this stuff, but before we get into it, I Want you to, I want you to quiz me, okay, all of the and people I’m trying to like see if I have my second camera, but my second camera is not, is not showing here. I want to prove to people I’m not going to cheat. I have nothing actually. Actually, I’m gonna show people my screen right now. Hold on, so this is you know. For those watching this on YouTube, this is my screen.

Bradley Sutton:

I’m just looking at you know I’m getting ready for what we’re gonna talk about product opportunity Explorer. But I’m not cheating at all. My hands are up here. You test me on the acronyms on a bunch of stuff that we’re gonna talk about today. You know the. We’ll start with like OX. I know what that is. That’s easy opportunity Explore. So we’re gonna do that. Let’s see, like I’m gonna pause before I answer because I want the people listening see if they know what these these Abbreviations stand for. All right, so OX equals opportunity Explorer.

Yi:

Give me another one something that Bradley was just clarifying with me earlier on. So what is MPG?

Bradley Sutton:

Yeah, you see, okay, hold on. I’m glad you mentioned that. You see you’re in Singapore. Your cars go by kilometers, right? Yeah, yeah so here in America, mpg we go by miles. That means miles per gallon. Okay, well, like well, how much your gas mileage on the car? So that’s why I asked you that today. So this one is kind of cheating, because I already asked about that earlier, because I was like what the heck is MPG? Yeah now you’re ready for God? No, no, I got it. Mark marketplace product guidance.

Yi:

Yes, exactly You’re right, You’re right.

Bradley Sutton:

All right, got it All right. How many of you guys got it right? All right, give me. Give me another one, hit me. I think they’re all easier than that one. That was the hardest one. What’s another one?

Yi:

Have you heard of this thing called the CLA?

Bradley Sutton:

Is it not a Mercedes? No, like a kind of Mercedes.

Yi:

Nope, I can give you a CLA. It’s actually something new under Amazon brand analytics which is an acronym in itself.

Bradley Sutton:

Yeah that’s a B, a right.

Yi:

Yeah, so something new yeah.

Bradley Sutton:

Consumer doesn’t start with consumer.

Yi:

Customer.

Bradley Sutton:

Nope, I give up. What is it?

Yi:

It’s customer loyalty analytics. Yes, that’s the new dashboard.

Bradley Sutton:

Yes, customer loyalty analytics. All right, what’s another one? So now we’ve done three. We’ve done OX, we’ve got a, b, a, we’ve got CLA. We don’t know we’ve done, for we got MPG.

Yi:

What else is out there? Do you know what is SQP?

Bradley Sutton:

Yeah, that’s an easy one. I had that team from Amazon USA on. Anybody else know who’s listening. All right, search query performance. I think that’s the one that everybody got. Everybody got right.

Yi:

Yeah, I watched the episode.

Bradley Sutton:

Oh, you watch that episode. Do you know those people I had on the show?

Yi:

To be honest, I haven’t really heard of them. Amazon is pretty big, but I know they are the growth consultants right Based in a yes, yes, yeah. Yeah, yeah.

Bradley Sutton:

All right, I think that’s most, that’s most of them, but we’ll see if we go over some, some other ones today. So, um, you know I wanted to. I wanted to get into some of these things because, again, you know, even even for me, like I have not done too much the customer, the customer loyalty dashboard, but what I wanted to start talking to you about today was the something else about? I’m not sure if this is the same dashboard, but before we get into it, you know, the first thing we mentioned was OX. You know, which is opportunity Explorer. So what is just the, the, the kind of like elevator pitch. Like us, you have like 30 seconds to a minute to explain to somebody in the elevator what is opportunity Explorer? What would you? How would you describe it?

Yi:

Basically, you are able to find out what are the unmet demands of US customers that are buying or searching on Amazon.com and, basically, based on the data that you have, you find new products to introduce and sell on Amazon.com.

Bradley Sutton:

All right. Now you say Amazon.com it. I know it’s in Amazon.com, that that’s the one that I sell and that’s where you I use it. How many other marketplaces is it available in outside of Amazon.com?

Yi:

They are actually six more. So it’s in the five European store, namely United Kingdom, Germany, France, Italy, Spain and Japan, and they are trying to roll out to other European stores in your future as well. So just keep a lookout, yeah.

Bradley Sutton:

And pretty much any seller with a professional account can access it without Brad, even without brand registry right.

Yi:

Yes, exactly, you just need to have a professional selling plan and you can access, like this, golden data From Amazon.

Bradley Sutton:

All right, let’s talk about the, the one I didn’t know too much, which was the category insights. First of all, where in seller central? Which menu is that? Even in?

Yi:

I’m trying to find myself actually under growth, then you can hit over.

Bradley Sutton:

I’m gonna share my screen for those watching here on YouTube. So I go to growth.

Yi:

Then marketplace product guidance.

Bradley Sutton:

Marketplace. There’s that mpg. All right, there we go. That’s the mpg.

Yi:

So, in fact, under mpg itself, there are a couple of tools which I think we can talk about it later on, but category insights is just one of it. So I see right here it’s at the very top there’s a there’s a button looks like I have got 30 of them. Okay.

Bradley Sutton:

So this is based on Whatever account I’m in, the kind of things that the categories that I’m in, or the order, or I have access to all you have access to all category on a browse note level.

Yi:

So in fact you can see already over there you can choose the marketplace available. So in fact it’s available. This insights is available for the US, UK, Germany, Japan store, so you can toggle to the other marketplace to view category based insights as well.

Bradley Sutton:

What, what it like? What’s the benefit of this? What should I be looking at here?

Yi:

Yeah, I mean the benefits over here is, let’s say you don’t really know what kind of category you want to start selling in. You roughly want to shortlist and See what is the demand for the specific browse note as well. You can use that to do your preliminary research. So I would say product research right. So there are a couple of ways you can get started into it. So firstly, let’s say if you roughly know, you know what kind of keyword, what kind of product you roughly want to sell. There’s a search bar at the top of the item type, keyword Module. You can actually put in your keyword over there. Alternatively, let’s say you are a blank piece of paper. You completely do not know where to start, but you just want to see what is like the hottest category in that particular marketplace. We do have a bar that you can see right over there, so that bar length actually signifies the demand in that particular marketplace. So that’s how maybe also.

Bradley Sutton:

That means in home and kitchen. Curtain is a very popular product type right now.

Yi:

Exactly.

Bradley Sutton:

Yes.

Yi:

So you can narrow down to curtain and it seems like window curtain panels. It’s one of, like, the hottest product under this product type. Yes, that’s how you can roughly get an idea of when to start with. Then, of course, you can scroll down all the way to the bottom to see many other selection matrix that help you to determine whether this is something that you want to get into before you do additional research, using opportunity explorer.

Bradley Sutton:

Yeah and so this is like you know, this. This kind of popularity index is this. Is this based on what people are searching for, or what people are buying, or just in, you know, a combination of both? Or how should I view this? The this list like scale here.

Yi:

Yeah, this is like, I guess it’s like a combination. So in fact, actually when you scroll down, it will exactly tell you Roughly what it’s like the unit. So what is the net sales for this particular item type, keyword that you have narrowed down Across, like the different window periods that you want to see? So there, can be like seven days, thirty days, ninety days, twelve months, yeah oh, wow, man, window yeah, window yeah.

Bradley Sutton:

window curtain panels are flying off the shelves at Amazon, exactly who would have thought that that’s.

Yi:

Lands views.

Bradley Sutton:

Let’s see what does it say? It says some of glance views received across these. What it what’s a what’s a glance view?

Yi:

that means who are basically viewing a sins? How many Ascends within this item type keyword are being viewed in the United States? Which ever month that you have filtered by? Yeah?

Bradley Sutton:

Interesting. So what I mean, like all I mean, I’m still scrolling here and you know I know peace. A lot of people are just listening. They can’t see what I’m seeing on my screen, but we’ve got here. Search to purchase ratio Return ratio. The reasons for returns yes. Number of new ASINs number 26 million ASINs in this. Oh, that must mean.

Yi:

That’s why the bar length is extremely long for this particular item.

Bradley Sutton:

Wow, yeah, so doesn’t mean that it’s a longer, it’s longer.

Yi:

It’s something that you want to go into, so, but it’s just another consideration for you, yeah.

Bradley Sutton:

Okay, yeah, and the FAQ down here it says what is demand. We identified demand Considering 300 demand factors. Obviously we’re not going to go into the 300. There’s a lot of stuff that is going in here. Um, is there anything else that? Or is there anything here that you think really Kind of like sticks out, like hey, if I’m a seller, this and I’m looking for a new product, this is something that I should be looking at.

Yi:

Actually, for me it’ll just be like three key things that usually I like to highlight to my sellers. So number one is actually the search to purchase ratio. So they want to see roughly what is the demand like, how many people will convert. Let’s say, if I run advertising, what would be the ROI like? So that will give them a gauge right when they do their own calculations. Number two is the return ratio. We know how well the return that exchanges policy Amazon is.

Yi:

So this is something that you probably want to factor in when you do your profit and loss analysis at the very start. Maybe it’s something that you want to bake in as part of your expenditure, right, because not all returns will Will allow you to get, like a food reimbursement. So usually our advice, seller, to consider that as an expense from the very get. Go for this particular product. Then the other one that I typically like to highlight, actually the features, right.

Yi:

If you scroll all the way to the bottom, it shows you a couple of matrixes like price Pattern, color, room type, etc. So it essentially already tells you what are the products typically purchased at like, which price range, and maybe in this case people like to buy solid curtains. There are blue in color and they like to place it in their bedroom. So maybe, when you want to sell window curtain panels, maybe you want to sell specifically Baked room curtain panels and, in fact, within your listing, this is something that you might want to highlight specifically is for bedroom use. So, yeah, this are some of the ways that you can, in a sense, give you a overall or initial understanding of how you should position your products. Yeah, we didn’t this category.

Bradley Sutton:

Interesting. I’m looking here. There’s patterns. I don’t even know what it means. Oh, ombré, like what? The heck is a ombré? Do you know what?

Yi:

that means Different color, then it’s like a bit fader, then okay, you do know what I mean. I don’t okay.

Bradley Sutton:

There’s interesting. I discovered a product type I didn’t even realize existed. All right, so this is I think this one is one of the newer kids on the block that not a lot of sellers have been using. So, guys, this is good. If you’re selling right now, you want to look into some numbers for your category or you just want to explore some new ideas. Now let’s hop into the one that’s been around a little bit longer, but it has been seems like it’s been constantly updated over the last year or so. A lot of new features, and that’s the opportunity explore. So Let me I’m sharing my screen again. It says here I can search by keyword or ASIN. So let’s go over a use case. So what use case are you going to give? What pretend situation are you going to give me right now and we can walk people through it?

Yi:

Yeah, yeah, In fact right, maybe I can just introduce to you how you can roughly use Opportunity Explorer even without searching for keywords or ASINs. So recently, if you see, the dashboard has been updated where there are many more recommendations within it, such as recently review niche similar niche from the category that you’re selling in. So let’s say, if you’re already an existing seller, they’ll recommend you potential products that you can sell. What are the increasing searches? Decreasing searches and many more recommendations. So sometimes, if you completely do not know what to sell, you just want a second opinion. Do check out the dashboard over there.

Bradley Sutton:

There’s a product that looks pretty cool. I’m seeing right now a book nook reading valet. Never in my life have I seen this product, but it seems to be getting popular. Okay, so, without even clicking anything or typing anything in, you can get some product ideas here. All right, what else?

Yi:

exactly. On top of that, I think we can just move on to quickly just showing an example of how we can shortlist or decide how to narrow down on what niche we should sell, because if you have been using Opportunity Explorer for a while now, you’ll know that, let’s say, when you type in a particular keyword within the search bar, sometimes it’ll show you multiple customer needs. Maybe what I can share over here within this podcast is how can you shortlist the customer needs or like the niche shall be offered so that you’ll be able to do further research based on that. So mainly is to see how we can narrow down your searches. Okay yeah, maybe for a start we could just key in shower curtain sets in the search bar.

Bradley Sutton:

Shower curtain set got it yeah.

Yi:

So I think, in general, I would just like to introduce like four different use cases where people can best filter or shortlist products when you arrive at this page over here, depending, of course, depending on your business objective and your goals, what you’re trying to achieve out of here, and these four use cases are actually built together with sellers. So I’m sure it will be relevant to some of the people who are viewing this podcast here. Okay, so the first one would be how can you identify, you know, ASINs or, in fact, niche that are high in search volume and has fewer offers from other sellers? So, over here, I would just like to highlight that, if you want to review that filter by the search volume column as well as the top click products, oh, actually, you’ll be able to see it within the niche page already. Okay, so you can just filter accordingly into the total the total search volume sorted by that. You can sort by that. Okay, got it, yeah. So, by the way, everybody listening.

Bradley Sutton:

If you guys are a bit, if you guys are on your computer, I want everybody to do this, like literally every seller can be doing this together with us. If you’re driving your car, riding your bicycle, please don’t try and do anything and get in the accident. But if you’re in front of your computer, what we did was I went to the seller central menu bar, I hit growth and I hit product opportunity explorer. And now I’m right here in the product opportunity explorer. I entered in shower curtain set where it says search by keyword. And now I’m on the very page and everybody probably, you know, depending on you know, when you’re looking at this. It might, you know, look a little different if you’re listening to this, like two months later, but it’s basically gonna be the same thing as what I’m looking at. And I just hit the under the search volume column. I sorted it by the total search volume over the last three 60 days and now it’s in descending order. And now what should I do?

Yi:

Yeah. So another thing that we should focus on is also how many top click products are there, right? So you’ll be able to know how many selections are available. Is it too crowded or is there still opportunity, right? So usually let’s say if you do like keyword search, sometimes they will offer you many results. In this case I think there are about 39. So sometimes you need to click into the second page to view more results. So in this case, sometimes I’ll recommend sellers to click the download button at the top right corner so that they will be able to transfer the results into Excel sheet to further shortlist. But in this case maybe we can just take a look at the screen that Bradley have shown, so at one glance you’ll be able to see, for instance, we do have like shower curtains, that’s like, where the search volume for the past 360 days is like 53 million and the number of top click products available is 61, which is, it seems, decent compared to many other customer needs which are above 100 or 285.

Bradley Sutton:

Yeah, I see one that’s 300 almost, and now again. This means, if I’m not mistaken, the last time I was studying this, I mean actually it did change before this number of top click products meant how many products it takes to get 80% of all the clicks in this niche, but now isn’t it like 90% or something like that?

Yi:

90% now. So 90% of the search and purchase products, yeah, Got it Correct.

Bradley Sutton:

Yeah, and so yeah, that that is a big difference, like a 61 and then two. Down here there’s Christmas bathroom decor 3 million search volume only, but 300 top click products that means it’s like a wide open, too many going into it. Yeah, yeah.

Yi:

Yeah, yeah, okay, and I mean seasonality also plays a fact right, the one that you saw is actually Christmas bathroom decor. It might be because everybody just want to jump on the bandwagon and just sell Christmasy stuff. So, even though the growth is like 2000 plus percent, it may not be something that you want to go into right, especially if you haven’t really launched Okay. So that’s just two matrix down to highlight. First, let’s say, if you would just want to explore, you know, products that have high search volume and have like decent selections available that slice you opportunities to go into. So these two matrix you can look at that.

Yi:

Then, another one that I wanted to highlight is actually the search volume growth, which I briefly talk about it earlier, so doesn’t mean that you know the growth is 2934%, like you see, for the Christmas bathroom decor is definitely something that you go into. Consider, like the seasonality, is it appropriate for you to go into it right now? Right, of course. At the same time, you need to take a look at the search volume. There are instances whereby maybe the search volume is only 60,000, but then the growth is like 7,000. So even if it grows by 7,000, it doesn’t mean much because the search volume is too small. So it’s important for you to find like a healthy balance between like the search volume that you want to see, as well as the growth percentage you are looking at to find like 20 products.

Bradley Sutton:

Now it says here growth past 180 days. So is that mean it’s taking Like what Like just the day search volume compared to 180 days ago, or like this month’s compared to six months ago, or what is this percentage representing?

Yi:

So this is like past 180 days, like based on, like the day, because we refresh the opportunity dashboard, like on the weekly cadence right, so it’s constantly being refreshed.

Bradley Sutton:

Yeah, and most of these I’m seeing are like kind of seasonal. You know I see Thanksgiving bathroom set and then I see Halloween and Grinch. You know it’s kind of like a Christmasy thing. Aha, here’s one that’s not necessarily gothic. You know I’m in that niche because of my coffin shelf right. Gothic shower curtain that could be a possible. Well, here’s something my daughter would love. Hello Kitty bathroom set is growing 27%. Dallas Cowboys I don’t know who likes Dallas Cowboys anymore, but our orange shower curtain is getting up. Alright, this is interesting stuff.

Yi:

Actually there are another two which I think it’s also quite important that I would like to share also. So the third one will actually be looking at the average price of the product that you want to sell, because sometimes you know when you want to sell a particular product, you want to earn a certain amount of margin, right? If the cost of the product is really, let’s say, example, $10, including all the different fees, ideally maybe you want to sell something that is maybe in the $30 range, so that you’ll be able to earn a healthy margin, so that you’ll be able to factor in the promotional discounts that you’ll give and advertisement spend that you’ll be able to make, right? So in this case, what I recommend you to do is to hit on the filter results button which is on the left-hand side, and you can actually filter the average price to. Maybe you can put $30. Minimum $30.

Bradley Sutton:

Okay. Minimum $30, okay, and let’s take a look at what’s in the box and then submit yes.

Yi:

Oh, there’s only one.

Bradley Sutton:

Only the Dallas Cowboys. People are paying lots of money for this. Yeah, yeah, stick in Dallas Cowboys. Yeah, yeah, yeah, alright, so that can be something that you can filter by.

Yi:

If, let’s say, you have a target margin that you want to work with, especially if you already got a quotation from, like, your manufacturer, this is something that you can work backwards on to see whether this is feasible for you to get started on. Okay, correct. Then the next one is pretty similar to this, but what it actually tells you would be the annualized niche. That means your annualized opportunity. Sometimes sellers will tell me, for instance, I want to earn $30,000 in a year. I know it’s quite little, but for new sellers maybe it’s a good stretch. Sometimes they’ll tell me I want to sell $30,000 for this particular category, but after we searched on Opportunity Explorer, we found that there’s insufficient demand within this category. They want to sell in in order to hit the $30,000. Right, if the average unit. So it’s not enough. On average, you won’t be able to hit your goal. So you may need to have another strategy. Either you launch multiple selections in order to hit your goal, or you pivot to sell in another category. So how are you able to find out your annualized opportunity? You can do it through filtering the results as well. Maybe you can click on filter results again. Okay, maybe let’s set the average price to $15.

Bradley Sutton:

Average price $15. All right.

Yi:

Then let me calculate, assuming let’s say I want to earn $20,000. Okay, just put 1,500 units.

Bradley Sutton:

So average unit sold put $15,000, $1,500. Got it and then we’ve got shower, just regular shower curtain. Customer need of the niche yeah correct.

Yi:

So maybe you need to explore selling something within this niche, that something that you’ll be able to meet the customers. Later we’ll talk about how we innovate products looking at the niche page, but basically this is like the opportunity you need to start with. Let’s say, if you want to keep that certain, you need so as well as the price that you want to sell. So you need to work backwards based on your goal.

Bradley Sutton:

Cool, all right. So you know like, let’s say, I go through a whole bunch of these keywords and I come out with a few or something. You know like whether I’m doing this or I’m doing Helium 10, the next step is usually like a validation. You know like, all right, here’s what looks cool. But then I can’t just up, it’s time to go to Alibaba and source it and like there’s some more steps. So how can product opportunity explore help with validating my ideas?

Yi:

Correct. So I think maybe you can click into a niche, maybe the shower curtains one, since you’re at that page already. So within the niche page itself, you’ll find that there are multiple tabs that give you further insights on a particular niche detail that you are at, like product insights, search term insights, trends, and there’s something I’m seeing brand new things here.

Bradley Sutton:

I’ve never seen before. Something that I want to purchase drivers and returns. Look at that, correct, correct.

Yi:

So, yeah, these are like a few other things you can take note off in order to validate your product and also to see how you can innovate your product. So maybe I can go through like the different tabs quickly to see what are the key matrix that you should take note off. Okay, so the very first one would be like the product steps. So over here you’ll be able to see what are like the top purchase product right. Whenever people key in the search term shower curtains, for instance, so over here you’ll be able to view basically the similar ASINs. You’ll be able to see what they are selling at, who is actually having the most key share and what’s useful about this. You’ll be able to click into the specific product title in order to find out more information about this popular product Right.

Bradley Sutton:

Oh wow, Correct.

Yi:

So over here if you scroll all the way down, because, like some of the product matrix available at the top, you’ll be able to see it from revenue calculator. But what’s useful is, if you look at the bottom, there’s this section called the niche. Product appears in, so that means this product is popular, not just in shower curtains, but this few other niche as well. Right, so this is just something for you to take note of. Maybe when you want to sell something similar to this, you can also cross, do kind of like across analysis, across the other similar niche listed over here as well, or maybe take a look at the top search there as well.

Bradley Sutton:

And this is kind of like I would imagine like for some people might view this as a good sign that it’s in multiple niches. It’s not just only getting sales in this shower curtain niche, but it’s got one for non-toxic shower curtain liner Green. I mean green bathroom decor. That’s a very broad keyword, so interesting Okay.

Yi:

Cool yeah. So the other one is actually the customer review insights. That is specific for this ASIN. Previously I’ve always heard from my seller they’re still doing it the manual way. They’ll go to like a similar ASIN. They’ll comb through manually, like all the customer reviews, but you actually don’t have to do it. Everything is all summarized within opportunity explorer, so at one glance you’ll be able to know what’s good about this product and what’s bad. And what’s bad about this product is an opportunity for you to innovate your product, to make it even better, and maybe you might even open up like a unique, like market demand for this kind of product that you are offering in the future. For instance, over here I think one of the negative review actually mentioned that the color is not what they wanted. So maybe the photos that you take in the future maybe you have to cross track with real life images to make sure that they match to a certain extent as much as possible, so that customers won’t will be more assured of the product they’ll be getting. They won’t leave negative reviews. Maybe another one would be, for instance, water resistant. They mentioned that this shower curtain is not water resistant at all, which is very strange. I mean shower curtains is supposed to be water resistant, so this is something maybe you need to work on with your manufacturer to ensure that it’s indeed water resistant.

Bradley Sutton:

This umbrella is not water resistant.

Yi:

Yeah, yeah, yeah, oh, is that like yeah, yeah, quite funny.

Bradley Sutton:

No problem.

Yi:

Yes, yes. So these are just some of the things you can take note from here. Then maybe we can go back to the other tabs quickly. Okay, so maybe I can just go through the search term tab, okay, okay, so over here you’ll be able to. Again, it gives you different matrix, such as the search volume, growth count, the demand in terms of conversion and click share for all the different search terms. So over here you’ll be able to sort, for instance, by the different matrix you want to see. It can be search conversion, because you want to see which search term is giving like much more conversion for like the product that you want to sell shower curtains, buff roof curtains. Sometimes the search term over here can even give you insights on how you can develop your product to make it even better. So, for instance, I see over here, when I filter by search conversion, one of the top search term is actually cloth shower curtain. So I mean it’s not water resistant. Maybe because there are people who like cloth shower curtain. So maybe that’s why this product is still selling well, even though it’s not water resistant. Maybe this is something that you can think of and because, in fact, it’s one of the search term that leads to highest search conversion.

Bradley Sutton:

Correct me if I’m wrong, but this, like the search volume and conversion, is this basically the same as search query performance, but not the same as brand analytics? Currently right, like brand analytics, I believe, like for top three click might be something different or it has to be something different probably because this is not even a week. You know like this is showing 360 days, right?

Yi:

Yeah, yeah, correct. Yeah, yeah, Okay. So the explorers should match with the search query performance.

Bradley Sutton:

Search query performance Okay.

Yi:

Yeah.

Bradley Sutton:

Cool Interesting.

Yi:

Yeah.

Bradley Sutton:

Yeah, these are some pretty low search conversions here, like some of these are 0.05.

Yi:

Oh, my God Like nobody Not as great Like 0.05.

Bradley Sutton:

That’s like one out of every 1000. Yeah it’s quite so, something crazy. Yeah, like less than less than yeah. One percent is one out of every 100. One tenth of percent is one. No, that’s like one out of every 5000. Oh, my goodness gracious, it’s quite bad, basically, the conversion is quite bad.

Yi:

It means that it might be quite, you know, competitive, I would say, because there are like a range of selections available, which is why maybe, let’s say, if you even want to run advertising, it might be more costly to win the bid, right? So this might be a consideration, maybe it’s it might be a little too tough for you to get into, right? It’s just a signal for you to know.

Bradley Sutton:

All right, guys, we’re going to have to cut the episode here because there’s just too much good stuff, so make sure to come back. In the next episode we’re going to go more into brand analytics, the new customer loyalty dashboard and a whole bunch of things more. We’ll see you in the next episode.

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