hey everyone this is stefan from
projectlifemastery.com and I'm here at
cellar con in Orlando Florida and I'm
being joined right now by Greg Mercer
who's the founder of jungle scout many
of you guys know Greg and seen the
videos that we've done together on the
channel before and he's a speaker here
at this event and we just got a chance
to meet up and we wanted to do a video
for you guys to share with you guys some
of the biggest mistakes that a lot of
new Amazon sellers make when researching
and choosing a product that they can
sell on Amazon so Greg I want to say
thanks for taking the time man
absolutely thanks for having me on oh
it's fun to spend some time together I'm
happy to chat about this yeah so what do
you see you you obviously you guys work
with thousands of Amazon sellers you've
you know you see all the mistakes that
people make and obviously the research
is the first step to selling on Amazon
you know you got to find the right
product that is going to give you the
best possible chance of success
biggest mistakes that a lot of sellers
make yeah if I were an arrow down to
just two different categories it's
either choosing a product with like no
demand this is probably the number one
mistake that like new sellers make so
they they want to sell something because
maybe they're passionate about it or
maybe because their friend told him that
they were looking on Amazon they
couldn't find it so they should sell it
and in reality there's just you know
some of these very ups like there's a
lot of price that tons of demand on
Amazon but something's very obscure
products there's like no one searching
for so it's like no one's searching for
this there's no dis ting demand on it on
Amazon you have to educate the audience
to purchase this which is just a very
difficult thing to do it like a search
based driven type marketplace like
Amazon yeah so do I guess do a lot of
people they just think hey I've got this
idea and they're not even looking to see
people are already buying that on Amazon
or people are searching for whatever and
so they put all this effort and time and
money to you know get that product up
there and then it's not selling and
they're like what's going on and then
they come to you or myself like why
isn't it selling and it's because they
didn't do that that research ahead of
time yeah and a lot of times is actually
just sometimes it is just because like
names of these types of products are
like this things that people aren't
searching for and that's like really
what it comes down to so you want to
sell products that have existing demand
on Amazon that people are already
searching for on Amazon so I'd say
that's like the biggest mistake that see
most people make the second biggest one
which isn't as detrimental but it's
still very challenging for especially
for new sellers is to choose something
that's like hyper competitive so the
best way to gauge like the
competitiveness of these products on
Amazon would be either the number of
reviews on the products or just like the
same listing and like multiple pages or
this like exact same product so if you
search for what you believes probably
your main keyword and like the top 10
listings all have like thousands of
reviews this is very difficult like nice
to get into it's gonna be very hard to
rank your products for these types of
keywords and then same thing like if
you're selling a product and there's
just multiple pages all the same product
there's you're not differentiating your
product or adding value to it in any way
that's the other way that's just like
very hard to get ranked on this first
couple of pages and as a result very
hard to make sales yes I guess the best
approach for people is to find a product
it's already selling high demand and
then you would try to think about how
you can just improve that product a bit
or differentiate a little bit because a
lot of people might think do I have to
like create something totally different
than what's out there or do I have to
like invent a brand new product type of
thing so what's the approach in mindset
you have to run that yes I've like never
invented any of my own products right
like I'm not an inventor I don't have
any patents on it that sounds cool but
also like really hard I don't know how
to do that so what I try to do now
though with all my products is like you
say like make small improvements so when
I say that we're talking about roads
ugly simple things like you know I
launched like a towel and some of the
poor reviews were like it's not large
enough for like my three-year-old child
so literally I just asked the supplier
to make like the towel a little bit
bigger right one of my other products
that does really well it has like
hundreds of five-star reviews and the
next best competitor is like four stars
on average what I do with that is like
it had a plastic buckle on it that kept
that again poor reviews from other
listings that it kept breaking and I
just like asked my factory like the same
product but just replace that buckle
with a metal one and that one does like
really well so there's like a few
examples
like we're just talking about like small
improvements right I'm figuring out what
to improve on based off of the reviews
from my competitors listings I'm making
these small improvements and yeah it's
it's a better product I'm verifying
there was already existing demand and
but same thing even with these small
improvements I wouldn't go into one that
was like hyper competitive nations what
how would someone determine the overall
demand and in competition I know you
guys have jungle Scout which is an
amazing tool to help you do that
research but I guess there are there
certain numbers that someone would look
look at and look for to help determine
okay this is high demand yeah so you
know like you said of course like
general Scout would tell you like how
many units are being sold but without
having to purchase the tool there are
like some other things you can do one
good indicator of that is the best
sellers rank so if you go to a listing
page you scroll down to the product
details section there's one value in
there called the best sellers rank and
what that is is that's really Amazon's
just ranking all the products in that
category like one through a million so
if the best sellers ranks 1000 then
that's the 1000th best selling product
in that particular category so this is a
great indicator for us of how well this
products selling so you can use that as
like a rough rule of thumb the
challenging part is like in smaller
categories like appliances like the rank
of a thousand was only selling probably
like a hundred a month whereas like a
rank of a thousand the sports and
outdoors probably something like ten
thousand a month but that's still like
if you're just starting out you're just
trying to experiment a little bit see
what this amazon things all about you
don't want to buy any tools yet that's a
good way to just kind of gauge that
overall yeah and one thing I wonder
about - I've gotten this question before
is you know a lot of people they might
just look at and they might determine ok
it's a high demand because there's maybe
one or two or three products that are
showing up on the first page that are
selling but how many how many listings
should they look to kind of gauge the
market like should they look on the
second page the third page like because
not often you know times people might
find a product and it's selling well but
maybe there's only like two products
that are selling well and maybe just
just because they're you know it's it's
just not a big enough market for to
support more products in it yeah totally
so yeah actually what I look for is like
look at demand kind of like across
throughout the niche I suppose like one
individual product cuz you're totally
right there's there's definitely
outliers on Amazon right maybe they're
driving traffic from someone else or
they were just on Shark Tank or whatever
else like so there's definitely outlier
products are just like crushing it but
the truth is there's like other things
like leading to that so that's why
instead I'm looking for a demand um
throughout a niche so like I would add
up kind of like demand of like the whole
first page or the first top ten products
to gauge how much demand there is for
that on Amazon hmm and what about when
someone's doing research and maybe using
some like jungle Scout will you look at
like just kind of how the market changes
over a period of time because I know in
some cases someone might research and
find a product they might find out it
it's kind of seasonal and or maybe when
they do the research for it they caught
certain numbers and then by the time
they're launching the product OHS
numbers are different like you know
maybe it's selling more maybe it's
selling less it you know maybe Amazon's
changed a little bit there are things
that people can do to kind of project
and kind of look at the bigger picture
rather than just researching that one
moment in time yeah absolutely and I
would recommend everyone to do that so
favor watching us like if you already
have jungle scout like and the extension
if you click on the unit sales numbers
it will show you a graph of how many
units it's sold and all the historical
months that'd be like a few years worth
but again if you're watching this if you
don't have jungle scout Google Trends is
like a good overall indicator and a free
tool to use so just Google Google
Translate
yes you'll find the website you could
type if we're sound like marshmallow
stakes I could type that in there and it
would show me the search volume on
Google which is a good indicator overall
of like the the demand for it on Amazon
it's you so like you could see like okay
like October's the peak month and in
February no insertion for marshmallow
six so you can kind of see that you can
also kind of see like how its trended
over like the past five years right like
is this probably becoming more popular
each year or is this like a dying thing
like hopefully you're on like the former
scenario yeah that's a really really
good point well and what other what
other mistakes do you see a lot of
people make in the research phase mmm
probably making sure they fully
understand all of their numbers and like
what their profit margins are
some things to take into account
especially like on your first product is
there are gonna be costs associated with
launching it so I'd be like through
coupons or giveaways or some other type
you are gonna have to run like
pay-per-click so there's there's still
tons and tons and tons of good
opportunities on Amazon so if you kind
of like find one of these products but
it's like wow the margins for this are
pretty slim they're like ten percent or
less keep looking cuz there's our you
know there's a lot of products that are
better than that mm-hmm and then what
about factors like just looking at the
weight of the product or you know kind
of factoring I guess the shipping costs
and all that - is that something that
you think is really really important to
research at a time yeah so it's
definitely important to understand the
FBA fees that's relatively easy to do
Amazon has like a free estimator tool
again if you're using jungle scout it's
already in there for you but something I
guess that's good to note since we're
kind of on the topic of like overall
weight and fees is there's essentially
two tiers of different products on
Amazon there's little tears inside there
but it's like standard size or oversize
the oversized products those are bigger
than let's just say like a shoe box so
you know like I'm kind of like about
that big and those products there are a
few more headaches associated with them
for new sellers because you can only
store up to 500 units at a time with a
brand new Amazon seller account and then
also just like these bigger bulkier
heavier products are gonna be more
expensive to ship you're probably gonna
have to ship them ocean so ideally you
would find something smaller but that's
not to say you should rule out all the
oversized products you just need to be
mindful of that when you're doing your
research got it
and one more question I have you know I
think a lot of people I know that I work
with though they'll get some like jungle
scalp they'll do all the research and
they've found a few products right and
maybe it's not like perfect like
criteria for them like maybe they're
still caught like some competition or
you know maybe the numbers aren't
perfect but they there's something like
this this not taken action with that
yeah and at the end of the day like the
biggest mistake is not doing anything
because you're not gonna progress you're
not gonna learn you're not gonna make
any money and you know like at what
point do you say to people like listen
you just gotta go for it you know like
you're not gonna find maybe the perfect
product you're not gonna find one that
has no competition you just have to pull
that trigger and go for it yeah it's a
great it's a great point I like analysis
paralysis right and that can sometimes
be the challenge that cuz like you see
all these numbers like never know for
sure is myfirstproject I'm scared I'm
investing like a significant amount of
money in this so you're totally right do
I at some point you just have to pull
the trigger and just know that pretty
much like worst case scenario is like
you about breakeven maybe lose a little
bit of money like on that first order
and you learn so much through that
experience like it you know you hear all
these success stories about some people
like a lot of people like crushing like
on their first product there's a second
product whatever else but the fact of
the matter is there's a lot of people
that just kind of like breakeven on
their first product but they learn so
much through the process that on their
second and third and fifth product they
can do really well so you're totally
right I think the the heart like the
biggest mistakes probably not taking any
action now and that at all I would
encourage you guys you know to get
educated about it what you're already
doing since you're on Stefan's YouTube
channel but after that and after you
feel like you kind of like consume the
content talking about this at some point
you're taller you have to pull the
trigger
totally yeah and I mean I find like for
myself when I first got started I was a
little bit uncertain with the product
and I was like okay how well is this
gonna do I picked one that I wasn't it
wasn't that intimidating for me to
pursue but I found that once you go
through that process for the first one
you're just more educated you have more
experience and then you can make better
decisions in the future because once I
started selling my first product and
then I saw this other opportunity and I
was like oh hey this one I know it's
gonna do better because I already had
that experience from the first one then
after that product my third product was
even better than my first two because
you just get better and better at it as
you go and I think that's the important
thing to understand is that you know the
first product you don't know what to
expect really and what but once you go
through that it's what you learn from
that that makes it so valuable then
eventually you get to the point where
you can you know you know like I'm sure
you've looked at so many products you
know that like when you see a product
you have so much experience you know
it's gonna do really really well yeah
right and that just comes from that
experience of doing it so make sure that
you guys are applying it take action you
know Gregg's got some amazing tools that
can help you the biggest one that he has
is jungle scout you might remember
people
little bit about jungle scout and how it
can help them yeah totally
so jungle Scout is a product research
tool specifically for Amazon sellers so
you know if you're consuming this
content and you have friends and
whatever else they were selling on
Amazon and you want to get involved with
it but you don't know what to sell Joma
scout solves that problem for you and it
does so with data so it shows you how
well these products so how much demand
there is the seasonality like we talked
about overall competition like
opportunity and things like that so yeah
it is a tool to show you which products
on Amazon you can make money from and
you guys have a browser extension so it
just fits in right with your web browser
but I know you also have a web-based
tool you might share with people a
little bit about that and how it helps
them I guess find opportunities yeah
totally so there's a few different
features in the jungle scout web app
probably one of my favorites is called
the product database and what we've done
is we've rebuilt Amazon's catalog inside
of our database and added some key
metrics and filtering that's built
specifically for sellers so you can go
in there you can say like hey show me
all the products on Amazon that sell at
least 300 units per month but have less
than 30 reviews and have a poor quality
listing and then it you know for go from
like 100 million products down to like
5000 or whatever and you can kind of
look through those to find one you like
so there's a lot of different use cases
but I just kind of be an example yeah
and I think that's really useful for
those that might think well I don't have
any ideas yeah you have no idea a lot of
people right yeah they have no idea what
they could sell you know so this at
least helps you filter things on Amazon
that meets a criteria that you can
determine to help you identify okay you
can scroll through hey this one I like
there's a good potential for this one
and you can help find those ideas and go
deeper with that yeah and it removes a
lot of the risk associated with it right
because like if you're just kind of
guessing and not making like data backed
decisions it can be like fairly risking
like a lot of people invest a
significant amount of cash like launches
products so yeah it's just like a great
like a risk mitigation tool very cool
awesome guys we'll hopefully you guys
enjoyed this I've done a few other
videos with great before and I'm gonna
link those in the description we did a
more in-depth tutorial showing how
jungle Scout works but Greg all
so it's been always gracious to offer a
discount for you guys my subscribers for
for being here and watching this video
so if you wanted a discount on jungle
scout
go to jungle Scout comm slash project
life mastery I'll have a link below in
the description for that but Greg thank
you so much I appreciate it
thanks for having me on it's been fun
guys yes and I will see you guys in the
next video hey let's say thanks again
for watching this video and if you want
to get started to build your own online
business on Amazon then I'd love to give
you some free video training that I put
together that shares with you more about
this process and more in-depth
step-by-step how you can get started to
build your own online business on Amazon
to create whatever kind of internet
lifestyle that you want for yourself so
to get access to this free video
training all you got to do is just go to
WWF mastery comm / FB a-ok project life
mastery comm / FB a FBA as in filmic by
Amazon and also have a link in the
description of this video as well that
you can click on head on over to that
page all you got to do is just put in
your name and your email address and
then check your email inbox and then
right away I'll send you some valuable
videos and resources to help you get
started learn more about this and guide
you in that right direction and it'll
get a few more emails from me over the
next few weeks I just don't want to
overwhelm you too much right away but
I'm not gonna spam you or anything like
that I want to make sure that I provide
some awesome high quality free content
that can help you build your own online
business on Amazon so thanks again for
watching and I'll talk to you again soon
take care
you
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