Picking a product to sell on Amazon is arguably one of the most challenging aspects of the business. It’s also typically extolled as the most important step in your journey.
Because the product is what makes or breaks your cashflow situation.
Now whether or not you believe you can create a “winning product formula” that identifies profitable products every time is unimportant (I personally am skeptical of this claim whenever it is made).
What IS important is that you start somewhere, with a strong foundation in fundamentals and solid research.
And I’m here to show you how Signalytics’ PFR report offers exactly that. Yes, you can use this amazing report for more than just pre-launch keyword research. You can even identify product opportunities…
We’ll first start by looking this matrix that loosely outlines the goal of product selection. By looking at the four metrics outlined (SFR, PFR, Competition and Search Volume), you get a strong basis for where an opportunity lay.
Couple that with a cursory glance at the Review landscape, and you could possibly find something worth investing in.
First, let’s outline the benchmark definitions for these metrics:
1 to 10k - extremely high search frequency (competitive)
11k to 25k - high search frequency
25k to 50k - medium high search frequency
51k to 100k - medium search frequency
101k to 1mil - low search frequency
1 to 1000 - low searches
1.1k to 8k - medium searches
8.1k to 15k - medium high searches
15.1k to 30k - high searches
30.1k to 100k+ - extremely high searches
1 to 100 - low competition
101 to 400 - medium competition
401 to 1000 - medium high competition
1.1k to 4k - high competition
4.1k to 10k+ - extremely high competition
1 to 20 - very high purchase frequency
21 to 50 - high purchase frequency
51 to 100 - medium high purchase frequency
101 to 300 - medium purchase frequency
301 to 1k+ - low purchase frequency
When looking at this matrix, we hope to find a product/keyword that has low PFR, SFR, and competition, but high search volume.
Let’s say, for example, we stumble on a keyword that looks like this…
Here we see a search term with medium competition, very high purchase frequency and medium high search volume.
A quick look up in Brand Analytics for SFR reveals a high search frequency as well.
Based on your internal metrics, this may or may not meet your standards, but it allows you to score important data points so that you can create a more analytical product-choosing methodology.
The PFR report also provides valuable insights into what launching a new product will look like.
With the “Daily Sold” and need to rank “N2R” metrics, you can determine how many units you will need to sell in order to overtake top ranking competitors for relevant keywords.
And metrics such as “Demand” and “Popularity” let you see how important the keywords in the report are to the competitors you are analyzing.
The best part about using the power of Brand Analytics and the PFR report is that you can begin wherever you feel comfortable.
Whether you are identifying products on Pinterest or Etsy, or you are starting with a seed word in the Brand Analytics keyword tool, or you are looking at bestsellers deep inside of sub-sub-sub categories, wherever you begin, the report can help you make better product decisions.