2 – Market Research – Amazon

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Welcome back!

Right on to the first leg of our journey together, Market Research.

[text_bar_2_left + width="100%"]A great place to begin your market research is Amazon.[/text_bar_2_left]

Amazon is particularly good for finding out who exactly are buying these products, and what they think about them.

It's a wealth of information! It's an often overlooked way of getting inside your customer's head to figure out exactly what they're looking for.

You can also find out the hottest selling products and what people are looking to buy in the future.

All of this information can be invaluable to us online marketers.

So where are the first places to look in Amazon?

If you already have a market in mind; then you can type in core keywords related to the market and see what type of products Amazon comes back with.

Then you can look at customer reviews and see what 'real' people to say about those products.

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Research and document:

  • What types of products are available for this market?
  • What are the pricing points for this market?
  • What were the good points (positive reviews)?
  • What were the bad points (negative reviews)?
  • What kind of problems are they having?
  • Did this product meet expectations?
  • Did it satisfy or help their problems in anyway?
  • What more would they have liked to have seen?

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Document all these findings. I create a new notebook in Evernote (it's free – and awesome). Every notebook will sync all my documents online and with all my computers installed with Evernote. You can even take screen captures to store with your notes.

There is also a paid version of Evernote, but the free version is more than enough for the average user.

Otherwise, create a new folder on your hard drive for your project, and document positive reviews, negative reviews etc. into separate files under that folder. You'll use this information later… ;)

If you're looking to find a market then take a look at:

So let's take each one of these in tern.

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[text_bar_2_left + width="100%"]"New Releases"[/text_bar_2_left]

The "new releases" section can be hard to find so it's easier if you use the URL below:

http://www.amazon.com/gp/new-releases

This section allows you to see ALL new products launched on Amazon, and it's updated hourly!

This is something you should be looking at on a weekly basis (at bare minimum). You can easily stay ahead of the game in a hot new niche.

Take Acai Berry for example. That was a massive market (it's saturated now), but if you would have stumbled across this niche earlier you would have struck gold.

If you look to the left there's a list of departments. You can go into any of these and find hot new releases in each category.

So for all intents and purposes I'll choose "Health & Personal Care".

 

 

As you can see in the "Health & Personal Care" section there are sub-categories you can choose.

Without selecting any sub-categories the Top 2 selling products are:

1 – Windex Electronics Value Pack

2 – Clearblue Ovulation test kit

We could assume from this that "getting pregnant" is a big market.

You can 'dig deeper' into each of the sub-categories (aka: sub niches) to find out other products and make a list of them.

It's important that you document all of your findings into a spreadsheet.

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TIP: By documenting everything (whether it be an excel spread sheet or other) you can always refer back later when you decide to promote in this market. You'll be surprised what you forget. Proper documentation is crucial whilst conducting your market research.

You can attach files to your notes in Evernote.

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Whilst conducting your research and investigating products, keep in mind how these are being promoted and how they 'could' be promoted.

For example…

The ovulation testing kit – I know that on ClickBank there's a pregnancy miracle e-Book that you could promote.

For the teeth whitening kit and the diet pill products you could run CPA offers for similar products on Facebook, on a blog, via PPC or by SEO methods.

Warning: Be careful of advertising diet pills on Google PPC, they have strict polices.

We'll probe further into "Hot New Releases" later and reveal a very 'hot' market...

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[text_bar_2_left + width="100%"]"Most Wished For"[/text_bar_2_left]

Back to Amazon….

Click on the "Most Wished For" tab at the top.

Again, use all categories to begin with and then filter through each category and sub-category as you did in the "New Release" section.

The "Most Wished For" section is updated daily. It contains items that are added the most often to wish lists and registries.

It allows you to take a look at what people are wishing for the most. Research one category at a time and add it to your spread sheet.

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[text_bar_2_left + width="100%"]"Best Sellers"[/text_bar_2_left]

Pretty self-explanatory. It's updated hourly and these are the products that Amazon have sold the most of. Do the same as the other sections above.

What's pretty cool about this section is that it tells you next to the product image the amount of days that it's been in the top 100 products.

Obviously the higher the number the better your chances of finding a product that not only sells well but consistently so over a long period of time.

 

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[text_bar_2_left + width="100%"]"Most Gifted"[/text_bar_2_left]

Again pretty self-explanatory. This section is updated daily and contains items that have been bought as gifts the most number of times.

Remember when you look at this section, these are products that have actually been bought.

So you can see what's selling right now, which is great information to know.

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[text_bar_2_left + width="100%"]"Top Rated"[/text_bar_2_left]

This section is updated on a daily basis and the products here are the top rated items based on Amazon customer reviews.

It tells you how many customers have reviewed that particular product and it's star rating.

If you click on each of the products it will give you an overview of how those customers rated that product.

Under "Health & Personal Care" category an hearing aid was at number #1 position with a 5 star rating with 148 customer reviews.

Of those 148 customers 127 of them gave it  5 stars and 17 gave it 4 stars.

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[text_bar_2_left + width="100%"]"Movers & Shakers"[/text_bar_2_left]

The "Movers & Shakers" section gives you a list of products that are gaining loads of interest over the last 24 hours.

If you remember from the first screen shot in the "New Release" section there was the product for TV or monitor screen cleaner? Well under the Movers & Shakers section it's sales rank was #13,  24hours ago and is now currently in #1 position.

It gained 21,969% popularity in this category within a 24 hour period.

This information could be crucial for keeping ahead of a market.

Amazon is a minefield of information about different markets and products.If you can't find anything interesting on Amazon then you're doing something wrong.

It's a great place to start if you don't have a market in mind and the same again if you do. If you were to try and obtain this kind of information through a market research company then you are going to pay big bucks for it.

Amazon gives it to you for free. Sure there's a lot of hunting around but if you take the time out to do it then you may very well stumble across a market that could make you a fortune.

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Amazon HNR Advanced –> Members Only —

These are the type of markets that if you're interested in; will keep your head well above water.

So what now?

Pop off to Amazon.com and do some research of your own. Find a market if you don't have one in mind already.

If you do; then see what you can find out about your market. Try answer all of the questions below about your market.

Don't forget to document all of the information you find.

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To recap:

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  • What types of products are available for this market?
  • What are the pricing points for this market?
  • What were the good points?
  • What were the bad points?
  • What kind of problems are they having?
  • Did this product meet expectations?
  • Did it satisfy or help their problems in anyway?
  • What more would they have liked to have seen?

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You may not be able to answer all of these questions on Amazon alone that's why it's also important to look else where.

And that's what we are going to do. Over the next few sessions we'll be taking a look at other places to find answers to the above questions.

Until then…
Mark Acutt & Mark Thompson

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PS: Like what you see so far? Are you ready to join our Insiders Club?

Only the first 200 members will be let in. Then the doors will be closed!

* If you see the order button below then the doors are open – if not don't worry, you'll be notified when the CBM Insiders Club re-opens by signing up.

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The CBM "Insiders Club"

— $27 per month —

DOORS ARE CLOSED

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Please sign up below to be notified when the doors are open again:

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22 thoughts on “2 – Market Research – Amazon

  1. Crap the button is gray… I tried to register from my mobile few hours ago (i was on the train) but it didn't work and now it's too late.

    Is your course very different from the one of Jan Roos ?

    • Hi Fabrice,

      No, you're early! It opens in approximately 1h40m time :) So you still have a chance to get in.

      There will be an email sent out to all those that have signed up – so you'll get notified when the button goes 'live'.

      RE: Is your course very different from the one of Jan Roos ?

      Yes, as far as I'm aware (not 100% certain) but Jan's course focuses on Amazon products. Ours focuses on every single product out there that can be promoted. It covers different networks, strategies, implementation, tracking, testing, email marketing – etc. Too much to list here.

      The CBM IC is NOT one of those training programs where there are crazy up-sells, cross-sells, "you need this" so you HAVE to buy it through our link type of training programs. We're here to help you, not to suck every last cent from you.

      Glad I got that off my chest :) lol

  2. Hmm… this could be interesting.

    The time difference for New Zealand is 4am (Friday). So I have real concerns
    about not being able to land one of the 200 spots. If at all possible could you
    email me with what the pricing will be? I'm only asking simply because if it's out
    of my reach then I'm going to be #1: really knackered & to go with that..
    #2:disappointed. And I don't want that…

    But if it is within my reach (the price) then I will stock up on the coffee & wait for your
    buy button to go live.. ready with my "super-click-ready-mouse" :)

    -Regards
    Richie

    • Richie, I guarantee that the price will be in everyones reach…

      Mark will probably kill me for this but if it's at a stupid o' clock time and you can't be there for the launch we'll reserve you a place if necessary… I once missed out on something because the time didn't cater for my time zone.

  3. Mark,
    So it opens 25th Aug , what time would that be PST in the U.S.?
    Not so important question is how do you guys go about putting your thumb nail pictures on something as this?

    Since the curriculum is in steps / lessons, what is the estimated time that one will be starting to "earn"?
    Thank you Andy

    • Hey Andy,

      RE: So it opens 25th Aug , what time would that be PST in the U.S.?

      Here's a great site to see the time in NY: http://www.timeanddate.com/worldclock/city.html?n=179
      You guys are 3 hours behind, so it'll be 9am your time.

      Not so important question is how do you guys go about putting your thumb nail pictures on something as this?
      You can associate a Gravatar with your email address, it will show your pic on any post on any site:
      http://en.gravatar.com/

      RE: Since the curriculum is in steps / lessons, what is the estimated time that one will be starting to "earn"?

      If you work along with what we teach it's possible to start "earning" within a month. But it's entirely up to you and it's dependent on how you consume the material and implement what you learn.

      Talk soon,
      Mark A.

    • Hey Muhammad,

      It's a monthly cost. Because of the nature of the program we're continually expanding it so at the moment we haven't reached and end point. There's tons of interesting stuff to see. And I will tell you that we've priced it to be very competitive and the training itself is unique :)

  4. Mark,
    Is this information and training which is not part of WordPress Goldmine (which I have to say is excellent!)? It looks great so far..all those blurry bits are very tantalising… I take it this training is aimed at affiliate marketing? Oh and another silly question…(my last question – promise!), The header says "Insiders club – the next level". Does this mean that it's not suitable for people like me (tried and so far failed to earn a penny from Amazon… or anyone else come to that). Any Hints on cost… not too expensive I hope… Hope I don't forget to log in on Thursday… Can you confirm that the time stated above is 1600 uk time? oops another question… oh well :-)

    • Hi Maria,

      Yes, this is something completely different to WP Goldmine (Mark T's).

      RE: I take it this training is aimed at affiliate marketing?

      Yes, and no. It's aimed at affiliate marketing – yes, but later you'll also learn how to become a vendor in your own right. Being an affiliate is the building blocks of becoming a vendor. It's the complete picture, and you don't have to be an affiliate only with ClickBank (or Amazon in your case) – we will be showing you many new systems you can use to make IM work for you :)

      RE: "Insiders club – the next level" – It's perfect for you. The next level means you need to take it to the next level. To get to the next level. We teach you the processes and systems to do just that. It's for guys (and gals of course) that are trying to make IM work, or improve on what they have, or to learn new strategies to build on what they already have.

      The launch time will be 17:00 UK time. Oh…

      RE: Any Hints on cost… not too expensive I hope -> It will be affordable, put it this way… my personal mentoring is $297 per month – it'll be a fraction of that cost. Bearing in mind you have BOTH Mark T and myself in the membership. But you'll have to wait and see ;)

    • Maria,

      This is not the same as WPG, it takes a totally different approach, less of the mechanics and more of the methods..if that makes sense!… whoops just seen that Mark A answered this already :)

    • Hey Gerryr,

      You'll have to wait and see on Thursday :) Put it this way, we can't "give it away", but it's affordable to everyone. We've seen guru training courses that go for $997 not have half the stuff you'll learn in the CBM Insiders Club.

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