Action - Calculate The Basic Criteria Score For Each Product
in this video, we're going to calculate the basic product criteria score for each of those three products that we chose earlier. Now that we've run these products and we know that they pass are choosing our product cheat sheet, it's worth it for us to give them a deeper look and to do that, we're using this basic product criteria sheet and you can find this in your course road map or download it as an attachment to this video. The first product we're going to go through is the double dog leash and of course you're gonna want to go through this with your own products. So I'm just going to put in the product name and now let's answer the questions just like we did before with the choosing a product cheat sheet and once all the questions are answered, we're going to tally up the scores and see how these three products compare. The first question is is the product smaller than eight x 8 x eight And we know the answer is yes, because we saw this question on our choosing a product cheat shee...
t. The next question is does the product way less than £2. And to find this out, we can go to an internet browser and go back to amazon. I'm just gonna type in amazon, then I'm going to type in the name of the products we're looking at and I'm gonna look at a similar listing and if we scroll down it'll tell us the product weight. So here it says the shipping weight is 8oz Which if we were to convert to pounds is less than £2. So I'm gonna check yes and we know that sales price can average between 15 and 75 because that was a question we answered on the choosing of products so I can click yes here, stress test, the product is durable and won't break. I would say yes for a dog leash, simple product is simple. No moving parts, Yes, This isn't some kind of electronic dog leash where there's internal moving parts that can break and then I'm gonna fill in the product name again. And the next question is none of the top 15 products have over 1000 reviews and we already know the answer is yes, because we saw this question on our choosing a product cheat sheet And the same with this question, 10 of the top 15 products have less than 200 reviews, so we can check yes Now, here's a new 1. 3 of the products on the first page have less than 75 reviews. So let's find out if the answer is yes or no. We're gonna go back to amazon and we're gonna load up our unicorn smasher plug in and by default it will automatically pull up all the items on the front page So we can just look at the reviews here and see if we can find three that have less than 75 reviews. I'm just gonna move it to get that picture out of the way and we have one, two, 34, five. So yes, five Products have less than 75 reviews And the next one each of the first three items have less than 400 reviews. And if we look at the first three items, The answer is no, this one has over 400 reviews. That's the first criteria so far that our product doesn't pass. But with the basic product criteria sheet, it's okay to check off. No, for some of the criterias, it just means that when we tally up the score it's going to be a little bit less. So the next question is none of the top 10 products have a bs are below 500 and we already know the answer is yes, because we saw that on our choosing a product cheat sheet. The next question is five of the top 10 products have a bs are between 2500 and 25,000. And by using unicorn smasher we can look under rank and do a quick count. No, that's not in the range. Yes, that's one. Yes, that's 2, 3, 45. So we know at least five of the 10 products fall in this range, so we can check off. Yes A customer can understand your product without instructions and for something as simple as a double dog leash. I think the answer is yes. The next question is about branding. There are no household name selling this product. Well, let's check to see if that's true. Let's go back to amazon and in our unicorn smasher, we can see the brand name for the different products. And I'm gonna skim through these brand names and see if there's any that I recognize. And just by taking a look at these, I don't recognize any of these brand names for that reason, I think the answer is yes, there are no household names selling this product. And finally, we have our last set of questions and the first question is the product cannot be purchased easily from a big box store and I'm gonna go with my gut and say yes, I don't think you can purchase double dog leash is from a big box store, like walmart, for example, the next question is seasonality, can the product be sold all year long? And I'm gonna say yes for this dog leash because people need to walk their dogs all year long, not just during certain periods of the year. And for the next question, I'm gonna say no, I don't think this product leads to re orders and subscriptions. Once you buy a dog leash, you don't need to order another dog leash. And I also think that the item is not likely to be purchased as a gift. And the reason is if your friend needs a double dog leash, they're probably gonna buy it themselves, it's not the kind of thing that a friend would give to another friend and then we have two more questions left and the first is the product is listed for sale on Ebay. And I'm gonna show you how you can check if the answer is yes or no right now. So let's open up a new tab and go to Ebay dot com From here. We're going to type in double dog leash and let's just scroll down and it looks like the product is selling on Ebay. This looks familiar. So I'm gonna say yes, the product is being sold on Ebay. And finally, advertising sponsored listings appear when you search for the product and to determine if that's true or not, we're going to go to amazon Close, unicorn smasher and if there are sponsored listings, you'll see them at the top. So right here we see the word sponsored and sponsored and that means these sellers are paying money to have their products show up right at the top and that means that we can click yes. There are sponsored listings for this product. Now that we've answered yes or no for all of these criterias, it's time to add them up. And we're gonna start at the top here. And the way this basic product criteria sheet works is there's a score of importance for every single criteria. And if the answer is yes, we're going to add that score to our total and if the answer is no, we're going to ignore that number, give it a zero and move on to the next one. So for example, these are all checks. Yes, so we can add four plus four is eight plus three is 11 plus two is 13 plus two is 15. So so far our product has a score of 15. Yes. So we add another 5 20 Yes. 24 Yes. 28. No. So we're gonna skip this and just give it a zero And so that we're still at 28 Over here. We did yes. So we're gonna add five and that's 33. Another yes. So it's 37 Another yes. So it's 41 And here we have a yes as well. So we can add four more. So the total is now 45 and we go to the next page And we're at 45 and this is also a yes. So we had three more and we're at And this is a yes. So we can add three more. So now we're at 51 total. Here is a no. So we'll ignore this two at zero points and we're still at 51. Same with gifting. That's a no. So we're not going to add this, that's a zero And we're still at 51. Yes. So that makes 52 And finally, yes, we had one point. So that makes 53 total. The total basic product Criteria score for the double dog leash is 53. Now we can add that to our product comparison sheet. So I'm gonna add 53 to our double dog leash here and will be really interesting to run through the same criteria for the other two products and see how their scores compare. I did the same process with the other two products that I chose earlier and here are their final basic scores. I want to make a note that this is by no means a perfect measure, but it does give you a general idea how one product stacks against another product. And based on this criteria it seems like the double dog leash is the best product in the next minute goal. We're gonna score these products against the advanced score and it'll be really interesting to see how they stack up on that criteria. In this video we calculated the basic product criteria score for our three products, congratulations, you have just finished mini goal too and used our basic product criteria to select three products. That's awesome. In the next video we're gonna get started with mini goal three which is decide on one product import. And our first task in that new mini goal is to see if our products past the five X. Rule, pause this video now and don't move on until you've calculated the basic product criteria score for each of your products