HOW TO EVALUATE PRODUCTS ON AMAZON

It’s excellent to have a high product ranking on Amazon, and one of the best ways to increase sales is because more potential customers will find your products when searching the site. The essential factor in evaluating your product is to determine the profitability of that product. You can determine with your profit margin how quickly you can grow and scale your product.

To decide whether you should move forward and consider selling it, or drop it and look at other products, we look at mainly three key components for every product we evaluate. They are:

1. Proven Sellers Analyze: You can see the estimated sales and revenue for the month for each product from a glance at the data. See the products with the highest total revenue and sales at the top. You may want to save the product as a possible “loss leader” where you sell related products that have higher profit margins, if something sells a lot of units, but does not have a ton of revenue. In hopes of using the loss leader as a way to sell a bunch of products fast, they naturally want to add your other related products to their purchase. In this process, the essential part is to evaluate as many products as you can quickly. You can use some tools to research in just seconds that will be easier for you in this process.

2. Proper Keyword Research: There are lots of tools for keyword research. The best and easily easy to find keywords is to go to Amazon, do a quick product search, and then click the tools that you need to add to your chrome browser before. After getting the data, then you can see which keywords drive the best and highest converting results at a glance. To see and compare the products that have the most searches you need to research and this keyword data as much as you can, and you can select the best products to work with. You can also determine which products to avoid due to having little demand and slow sales from this data.

3. Profit Margin Calculation: Finding and selling products with the best profit margins is the key to success because you’re in business to make a profit. Knowing how much your product will cost to produce is a quick way to know your potential profit margins. These numbers will include fixed costs, variable costs, upfront costs per product, advertising costs, giveaways, promotions, etc. You can sell to bring your product to the market once you know how much your per-item costs. After calculating your product cost and Amazon fees, you need to decide if you can live with the products’ profit margin, and you can also evaluate the sale price after removing Amazon fees.

However, you need to provide relevant and complete information for your product to increase your product’s visibility, sales, and rank higher on Amazon. You will need to optimize your Amazon product listing to get rank. As you continue researching, you bring ideas to lots of new options and possibilities, and that might be the most valuable time you can spend in your business.

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