Hi, I’m Chris Malta, CEO of Worldwide Brands. I’m eager to introduce you to
the most powerful functions of our Product Sourcing tool – the Market Research
Worldwide Brands’ Product Sourcing Tool gives you all the critical information you need to source products that will sell well including vitally important market research information that tells you whether you can compete successfully in the ecommerce marketplace on the products you’ve chosen.
To decide if you can compete by selling a specific product, you need to know:
1. What’s the CURRENT Demand?
2. What’s the CURRENT Supply?
3. Which ‘Keywords’ CURRENTLY lead people to find this specific product?
4. What Pay-per-Click advertising challenges you in this marketplace?
5. What are the typical and CURRENT prices out there?
Outdated statistics are of no value to you in Internet selling.
You need to know how many people in the last ninety days have searched on the Internet for this specific product.
The Worldwide Brands Market Research tool takes your keyword, and goes out to several sources online, some that are in the public domain and some that we specifically pay for on an annual basis and starts gathering information. Within seconds it returns CURRENT statistical information on which you can base informed decisions.
After performing any product search you’ll see this market research information: The Analysis ‘Probability Thermometer’ is a guideline only. It indicates what your chances may be of selling this specific product with the CURRENT Demand/Supply and Competitive Saturation out there. A high result suggests that you have minimal saturation. A low result suggests that there is a lot of competition out there.
A low result doesn’t mean that you won’t be able to sell the product. So much depends on the niche you choose to sell in, your product positioning, how you price and promote the product, how much traffic you bring to the store and how successful you are in converting a customer visit into a sale.
When first starting out though, you’re probably safer to stick with products that have a higher probability percentage.
This same thermometer is displayed in the “Analysis Tab.” The quick analysis on the product indicates from zero to 100% how well your product might sell across all current markets.
The Demand tab lists keywords and keyword variations that online shoppers are using to find your product. This helps you find relevant keywords for your own website copy, auction listings, advertising, and more. These words are important for optimizing your store for search engines which is called SEO and attracting Traffic.
To export these keyword variations to Excel so that you can use them on your website, simply click on the “Click Here” link. This is a facility that many ‘newbies’ on the Internet typically pay consultants thousands of dollars to determine. With the Worldwide Brands’ built in Market Research tool you can have current results within seconds.
In the “Competition Tab” you’ll see how many Yahoo!, eBay and Google references use the terms that you are researching. This indicates whether a product has become saturated in the current market.
In the Advertising tab you can quickly view top Google ads from businesses currently selling your product online. Seeing your top competitors’ advertising gives you a tremendous head start in creating your own advertising. It gives you a snap shot of what you will be up against.
In the Auction Pricing tab you’ll see completed eBay auction listings for your product. This helps you determine whether you can make a profit and how you can price your products in the market.
To track those analyses that are most strategic to you, you can always save, export and print the Market Research data so that you can compile your own Market Research report based on your own results. This will also help with compiling a trending report so that you can figure out the best times of the year to sell certain products once you gather enough data over a period of time.
It’s a good business practice to perform multiple searches to find the right products.
The Worldwide Brands’ Market Research Tool will tell you if a product, you perform a search on, is a product that people want to buy.
Worldwide Brands, through its relationship with a leading Research Organization and other Worldwide Brands’ credential partners, will provide information from time to time indicating product categories and products that are projected to be in demand in the seasons ahead.
There’s a link to an extremely useful Free Start Up Guide called: “Finding Your Niche.” This free pdf was prepared by Worldwide Brands’ trusted expert, Matt Hedges of ‘Simple Market Research.com.’ The document provides hints on how best use Worldwide Brands’ Market Research Tool, to find products that will sell well on the Internet. We agree with Matt that you should never search for only one product at a time. Matt recommends that you select at least three related options. It should be at least three per search.
Let’s try this now.
From your Dashboard, in the Product Search section, let’s select the drop down box and click on: “Sporting Goods”, type in “Canoes” and select “Search.”
The “Suppliers” Tab shows us that there are several different wholesale options for the product were searching on. The Percent Analysis suggests that it could certainly be worth spending more time researching this product.
The “Analysis” Tab suggests that you have a good chance of selling successfully with this specific product. Remember that Demand and Supply changes as more people search for this product, or more people offer it for sale.
The Demand Tab shows that there are several pages of keywords that can bring people to your site. As we showed previously, you can export these keywords to an Excel spreadsheet by selecting the “Click Here” button.
The “Competition” Tab shows how many pages on Yahoo!, eBay and Google make reference to the word “Canoes.” This does not mean that all those people are selling them, it just means that on many of those sites the word canoes has been used somewhere in a sentence.
The “Advertising” Tab lists those websites that spend money on Pay-Per-Click advertising to attract traffic for that product.
The “Auction Price” Tab lists the recent eBay Auction closing prices for “Canoes.”
Having done this research in seconds, you may feel a little challenged to compete. This is why Matt Hedges of Simple Market Research.com recommends having three related product options to search at a time.
Let’s do this same search for “Inflatable Kayaks”
You’ll see that our Percent Analysis is different from that of ”Canoes.” The Supplier Tab reveals there are several Wholesale options for people who can supply inflatable kayaks.
The “Analysis” Tab also suggests a lesser chance of selling competitively but it is still a good chance.
The “Demand” Tab shows less inquiries and less keywords.
The “Competition” Tab shows a lower variety of available products, stores selling them and pages referencing them but still suggests that you can compete because of high demand.
The “Advertising” Tab shows a completely different mix of Pay-Per-Click advertisers.
The “Auction Pricing” Tab once again shows the recent selling prices on eBay.
But Matt still urges us to check out that third option so let’s do this same search for Kayaks in the same Sporting Goods” category.
Our Percent Analysis is better than that for “Inflatable Kayaks” and is just about as good as for “Canoes.” The Supplier Tab reveals several wholesale options once again, where you can get this product.
The “Analysis” Tab also suggests a better chance of selling competitively with ‘Kayaks’ than for “Inflatable Kayaks.”
The “Demand” Tab shows a considerable increase in inquiries and many more keywords.
The “Competition” Tab shows a high number of available products, stores selling them and pages referencing them but still suggests that you can compete because of high demand.
The “Advertising” Tab shows a completely different mix once again of Pay-Per-Click advertisers whose sites and prices you can research. In fact the Big Box Stores are notable by their absence in this area.
The “Auction Pricing” Tab once again shows the recent selling prices on eBay which seem in a much higher range than the other two options.
This illustration has shown you how to do your research carefully so that you spend your time and money where you have the best opportunity of improving your profits.
Remember to save your research. Return frequently to repeat it because Demand and Supply changes. You need to anticipate or move with the change otherwise you will be caught with inventory or a slow down in sales before you realize it.
Worldwide Brands is here to help you. Keep current with our eNewlsetter.
Keep asking questions and don’t be shy to request help. Members who own the “Whole $ale” get into our forum, there are a tremendous number of people there who can help you. You’ve got a lifetime Membership to the best product sourcing tools on the internet. We want to help your become successful in your Internet Retailing lifetime.