10 Tips for choosing products on Amazon
Nearly 2000 sellers join the Amazon market every day, and we must always keep abreast of our competitors' business.
You need to know exactly what competitors are doing to be successful: how they price the product, where they buy it, how the product is quality, how they market the product, the content in the list, and so on.
Competitor analysis is a very important problem when selling on Amazon.
Without this information, how can you have a competitive advantage?
How do you find and define your competitors on Amazon?
Competition from sellers of similar products should be one of your biggest considerations when conducting product research for Amazon's business.
If you don't know who your competitor is, how do you know what your competitor is?
The easiest way to find competitors is to search for product ideas on Amazon.
Start with a wide range of keywords and see what appears in the search results.
From a broader point of view, the competition will be fierce, but as your market segment becomes more specific, the number of your direct competitors will decrease-and these remaining competitors are the ones you should focus on.
Suppose we want to sell coffee machines.
As you may know, there are many different types of coffee machines on the market.
You have a traditional drip coffee machine, a pod coffee maker, a single cup coffee maker, an espresso machine-you know.
In this case, we are going to sell a single cup coffee maker.
First, let's search for the broad term "coffee machine" and see what happens.
As expected, we see a variety of coffee makers to choose from.
Technically, all of these coffee machines are your competitors, but our idea is to target the actual product with more specific long tails and subdivided keywords.
Now let's search for a "single cup coffee maker".
These search results show only single cup coffee makers, not 25 different types of coffee makers.
The products that appear in the search results for this particular search term will be the main competition to focus on.
Pay attention to the top 10 to 20 products on the home page, as they represent high-performance competitors to monitor.
Track each product in a spreadsheet, or, to make it easier, use our product tracker tool.
The tool organizes competitors by group and compares product creativity and sales indicators.
With Product Tracker, you can track real-time sales and observe the key metrics of the competitor list.
How to analyze competitors on Amazon？
Once you know who your main competitors are, you should identify their strengths and weaknesses and figure out how to beat them.
- Identify keywords for competitor rankings.
This is extremely important.
If you want the product to be displayed when the customer searches for the product, you need to make sure that the correct keywords and keyword phrases are located.
If not, you may miss the potential number of shows and sales.
Although you can determine the keywords you want to locate without using software tools, you can use keyword research tools to save time and effort.
By using Jungle Scout's Keyword Scout, you can see which keywords competitors are using and rank them, as well as other useful metrics.
If you filter by Natural Rank in Keyword Scout, you will receive a list of keywords at the top of a particular ASIN.
2. Review the list of competitors
Here, potential weaknesses in the competitor list can be identified.
Is the image quality of the photo poor?
Is there a lack of specific product information in the list?
Does the product have a substandard rating?
You can learn from competitors' practices in list optimization and use this information to make your list better.
The following are the components of the list that need to be carefully examined during the audit:
The title not only tells customers what your product is but also tells Amazon's A9 search engine what it is and whether it is relevant to the buyer.
Write down the keyword phrases used by your main competitors in the title.
Do you see anything that can be added/removed to improve the product title?
Are competitors missing important information that your customers should have known from the start?
These are some things to consider when creating a strong title for the product.
Did you notice the list of Hamilton beaches above?
It lacks the brewing quantity in the title.
In the Keurig list, it makes it clear that the machine can make 6 to 10 ounces of coffee.
If I were a customer looking for a coffee maker, that would be the type of information I want to know before I click on the product page to consider buying.
Pictures are a big selling point for Amazon. Because customers cannot touch, feel, or see the product in person before buying, they need to ensure that listing has the highest quality images and information charts.
Check the search results below and check every major picture of your competitor. How to make the main image stand out in the search results?
Which of the pictures listed above impressed you the most? By adding a yellow cup to the image on the left, the seller created a visual point of interest that made the coffee machine stand out among other products in the search results.
Main points and instructions
Read the key points and descriptions of competitors and pay attention to how they describe their products.
What's the tone?
What characteristics and advantages do they highlight?
What useful information is missing?
Look at what other people are doing and find ways to make listing information richer.
Skip the fluff and avoid fillers that are useless to customers.
Make the information to the point, but persuasive.
The sooner customers find the information they are looking for, the more likely they are to be forced to buy products.
What do customers think of competitors' products?
What are their pain points for these projects？
What do they like to buy?
Use comments from competitors to find weaknesses in their products and product lists.
For example, if a comment mentions that the information in the list is incorrect or missing, you will know that you include accurate and comprehensive product information in your listing.
How can the product help solve the problems that customers encounter when using competitive products?
This is a good opportunity to draw attention to the benefits of buying a product, so be sure to include this information.
Comments are also a good way to discover potential keywords used by customer types.
Look at the underlined sentences in the comments above.
You can see that the customer actually mentioned the problem of the product.
This is very useful information because you can use it to assure customers through your listing that your product does not have these problems, and that the product is obviously a better choice.
Another notable missed opportunity in the above comments is the reference to "poor customer service".
If the seller had provided good customer service, it could have saved them from this negative comment.
3. Monitor competitor pricing
Pricing plays an important role in customer buying behavior-especially on Amazon.
If customers see two similar products with similar review ratings, they are likely to choose a cheaper option.
Having said that, we still need to make a profit.
Understanding the price history of a particular market is important to determine the long-term viability of the product.
If the price of a product being sold or interested in selling fluctuates frequently, it may not be a good market.
Product Tracker can also help: it monitors the price of Buy Box to track whether competitors are selling products at the same price.
With this information, we will be able to avoid potential losses and insist on selling products at sufficiently stable prices to profit from them.
- 4. Track competitors' monthly sales
Tracking competitors' sales will give you a good idea of how much inventory they are moving and the potential profits they may make.
It also lets you know whether this particular niche market or market is healthy.
Do not want to enter a market where the trend is declining or demand is low.
Track sales and have more confidence in the products you decide to sell.
The last thing to do is to launch a product that no one wants to buy.
Similarly, you can use our product tracking tool to track the average sales, revenue, and bestseller rankings of a product or group of products over a period of time.
These extremely valuable insights make it possible to make smarter decisions for Amazon's business.
- 5. Explore how your competitors promote their products
How products and competitors' products are branded and marketed may be the key factors for customers to decide to buy.
This boils down to the tone of listing copywriting, product pictures, packaging design, A+ content, and the way brands communicate with customers.
You should also know about their non-Amazon marketing work, such as their social media presence.
Social media has a huge impact on e-commerce and brand awareness.
In fact, more than half of consumers bought what they heard for the first time on social media.
Here are some questions to ask yourself:
How do your competitors use social media?
What are their followers like?
Which platforms are they on?
How often do they release it?
What is their participation rate?
Do they use other platforms such as email or blogs?
All of these questions can help to better understand competitors and consumers in the market.
Hi, I am Rogers, the webmaster of Woospy, a blog writer and a normal E-commerce businessman. I have been running Amazon and Shopify stores for more than 3 years. During the period of running my own stores, I've been super aware of the exhaustion and helplessness of doing e-commerce business sometimes. This is the main reason why I created Woospy. There are over 300 tools and software I used or knew collected on this site. I believe these tools, software, and tutorials can provide other sellers with a lot of inspiration and improve their efficiency to some extent.
Bro, hope you can enjoy my collection here! Hang on there and the best time is coming!