Action - Research Competition For Our Product
in this video. We're going to research the competition for our product and the sheet we're going to be using to do this is the competition research cheat sheet. You can find it in your resource pack it or download it as an attachment to this video. And we're gonna do this for the double dog leash. I'm gonna start by typing that in as the product name and next up we want to type in the product key words. We're going to use a tool we used earlier called google keyword planner to find these keywords, Let's open up an internet browser from here, type in google keyword planner and then click on this adwords dot google dot com slash keyword planner from here, you'll have to sign in if you aren't signed in already. Once you're signed in, we want to click on tools and then click on keyword planner. Then let's click on search for new keywords using a phrase website or category. And I'm gonna type in double dog leash here, scroll down and get ideas. I'm gonna put in the top five or six keywords ...
here, I'm gonna go back type in double dog leash, dog colors, dog harness, dog leash, dog leads and leather dog collars. Now I'm gonna add up these keywords and get Google search volume and just like before when it gives us a range, we're going to count the higher end of that range. 10,000 plus a million plus 100,000 plus 100, plus 100,000 plus 100,000. That gives us 1,400, and 10 google search volume one million, 410,000 searches. Next up is number of sellers for the product we're gonna want to head over to amazon dot com and type in double dog leash. And what I'm gonna do is I'm gonna start at the top ignoring the two sponsored listings and just count how many related products I see and the reason why I'm not using unicorns smasher to do this is it only shows you products on the first page and we're going to go to the second, the third and maybe the fourth page and keep counting until we stop seeing double dog leash products 1, 234. After doing a lot of counting, I arrived at 70 sellers selling a double dog leash or something similar and the number may seem very high and worrisome, but a lot of the products that I found were dog leash couplers such as this, which although they're similar, they're not the same product that we're selling because ours has a handle on it. I wanted to get a good big picture of the competition and that's why I included those in my account to find the average selling price of the product. We can go to the front page and open up a unicorn smasher tool And here what Unicorn Smasher does for us is it gives us the average price of the items on the front page and that price is $12.83. Next up is the average sales rank. If we look at the average sales rank here For the items on the first page, that's 28,916. Next up is the average number of sales. And unfortunately our unicorn smasher plug in cannot do this. And for that reason, I'm gonna pull up Jungle Scout Pro. If you decided not to get Jungle Scout Pro, Then I would just leave this column blank for now and move on to the next one. Using jungle scout pro. We find that the average number of sales for products on the front page is 211. The reason why I'm only looking at the average sales rank and the average number of sales for products on the first page and not for all of those other sellers selling our product is because I'm confident that we can rank our product on the first page. For that reason, we want to look at the page where we're gonna be competing and not on the 2nd, 3rd or fourth page where our product is not gonna be. Anyways, Next, we have average number of reviews and we could pull up unicorn smasher and see the average number is 210. And lastly we have positive and negative things that people are saying in their product reviews to find this out. I'm gonna spend some time reading the reviews for these products and then I'm gonna write down any notes that I have if you want to make this process quicker. Rather than reading every single review, you can click on five star and just read the five star reviews and click on the one or two star and just read those reviews. After reading a lot of reviews, I was able to find some common, positive things that people were saying and also some common negative things that people are saying. In the next video, we're going to see if we can use this information to come up with some product improvements. In this video. We researched the competition for our product and in the next video we're going to come up with possible product improvements, pause this video right now and don't move on until you've researched competition for your product.