Product Hunting/Reserching

Table of content

  • Product & Product Strategy.
  • High Demand & Low Competition
  • Keyword Search Volume
  • Monitoring the Consistency of Product Behavior
  • Average Revenue & Average Monthly Unit Sales
  • Margin for Improvement
  • Products with Multi Parts, Chess, Letter Board
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Product & Product Strategy

Every product is special and has its market destiny. Just like the uniqueness of each product, the ‘go-to-market strategy for each will also be unique. However, any product can succeed if the right approach is adopted.

High Demand & Low Competition

New sellers are either too frisky or are too risk-averse whenever they are required to take a progressive decision. Based on your circumstances, a balance is required on the sea-saw of risk. However, we are jotting down some pointers for you that will act as a guiding path, just to keep you on the safe side. This guide is for those who are either starting or have started but are struggling at the moment. Some are either thinking to quit altogether or want to restart selling in a different manner.

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Keyword Search Volume

This should stand second on your checklist regarding its importance and relevance. You should always treat keyword search volume exactly the same way a Sales & Marketing Professional looks at footfall in a mall or a marketplace. The more the people enter the mall or are searching for the keyword (broad or specific), the more likely the product will sell and thus, be judged as high in demand.

Monitoring the Consistency of Product Behavior

Demand, Keyword Search, Seasonality, checking their results once it is like taking a snapshot of the situation for that particular moment. You need to keep in mind that whatever results you get are for that specific time only.

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Average Revenue & Average Monthly Unit Sales

As per experienced sellers, the average revenue for the targeted product niche should be more than $5,000. To make a profit, you should aim for an average margin between 10-30%. This indicates the sales volume, the total market in terms of $ the product is currently operating within.

Margin for Improvement

You need to go through the comments of new and established brands within your product category to see any suggestions from customers or any improvement points they want the brand to improve upon. Innovate the product, add value in the marketplace, and provide a solution to the customers.

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Products with Multi Parts, Chess, Letter Board

For instance, if there is complexity in the assembly of parts of the product, then there is an inherent chance for things to mess up, e.g., missing pieces, pieces not joining up correctly, etc. This can leave an unhappy customer, which will ultimately make you unhappy.