A Product Finder tool has the potential to transform the way you run your online business.
It won’t change much by itself, but it opens new pathways and strategies that can scale up your business and allow you to make actionable, informed business decisions.
That is why companies today make sure that they have a Product Finder tool in their toolkit. It’s something no business should be without. From mindlessly muddling along in the world of business, you can use it to analyse, evaluate and calculate your next moves like a Chess Grandmaster.
But we are getting ahead of ourselves…
What Exactly is a Product Finder tool?
Let’s say for example that your business produces Product X.
Unfortunately, you are not the first to produce this type of product. You certainly will have a unique selling point and perhaps even better quality than the ones already on the market.
Then you use a Product Finder tool to plan your strategy.
You enter a product identifier code for your product X (or the similar types that are already on the market) into the Product Finder tool. Nice and simple.
Product Finder will then give you a spreadsheet of pure information, including:
- Amazon Specific Internal Number (ASIN)
- Brand (The one that Amazon associates with the identifier)
- Title (The description Amazon associates with the identifier)
- Buy Box Price (Click here for more about winning the Amazon Buy Box)
- Amazon Referral Fee
- Amazon FBA Charges (Check out our Amazon FBA Guide for a full breakdown!)
- Product Sales Rank
And much more!
By itself, this information doesn’t directly affect your Product X. It is a string of letters and numbers on a well-organised spreadsheet.
If Used Correctly Product Finder Allows You To:
Measure Thousands of Competitors
Accurately Evaluate Profitability
Seize on Expansion Opportunities
Predict Sales
Let’s analyse exactly how that’s possible with a Product Finder tool.
Measure Thousands of Competitors
It is highly unlikely that your product is groundbreaking and even if it is, it will not be for long. How many other imitations and variants will come out in the weeks and months after your release?
So whether you are still in your preparation phase or an established Amazon Seller already, a Product Finder tool is essential no matter what stage of business you are currently at.
Product Finder will measure up your chosen products against not just one or two other brands, but thousands at once!
That is market information that would take weeks to otherwise gather (and be incredibly repetitive) while it allows you to make decisive decisions on your business plan.
- Which other products have unique selling points?
- Which brands are currently involved in these products?
- How is the price variance from brand to brand?
- Will your combination of price and quality stand out in the current market?
For an eCommerce business leader these are essential questions. They can affect everything including your marketing strategy, pricing levels and even production processes!
Win The Amazon Buy Box
It is the prize that every Amazon Seller dreams of – The Amazon Buy Box.
An unbelievably large amount of sales go through the Amazon Buy Box – around 82% of all Amazon sales – and this reflects the competitiveness of businesses attempting to win it. Your seller metrics play a large part in winning the Buy Box, but successfully adjusting your pricing level plays the other huge part in eligibility.
Even winning a small percentage of the Buy Box can lead to an enormous increase in sales. That is why Product Finder’s ability to calculate the pricing level for Buy Box eligibility is a priceless tool that your business can and should use to its maximum potential.
Accurately Evaluate Profitability
What is your business trying to do? Turn a profit.
What eats into those profits? Unexpected fees.
Amazon is renowned for its complex webs of fees. That is why we have created several guides detailing Amazon FBA fees and chargebacks for Vendors.
It is these fees that cut into your product profitability. They can hamper your business growth if they are not properly accounted for before you start selling.
Product Finder will not only calculate your standard profitability, but it will also give you the cost involved in selling through Amazon on top of that. This means that you have a figure that wholly reflects the profits you make on every sale without leaving a margin of error.
We like to keep those unexpected surprises to a minimum!
Seize on Expansion Opportunities
Some, but not all, Product Finder tools have the ability to differentiate between regions.
This is particularly useful if you find that your Product X might already be facing a saturated market. With the right Product Finder tool you can explore different, potentially untapped markets.
This of course will mean minor tweaks in distribution as well as revisiting your pricing strategies, but it offers a unique advantage over competitors and the potential to increase your sales like never before!
Predict Sales
The ability to predict sales will never be a precise science. Holidays and seasons change every year and despite online businesses coming far in introducing subscription services to customers and receiving predictable levels of orders – it is still difficult.
That is why the Sales Rank provided within the Product Finder report is one of the most useful pieces of information available.
The Sales Rank is Amazon’s personal ranking of the product in question. The lower the number, the better it is selling, with the #1 being the ideal value.
From this information it is all down to your business intelligence. If the product of someone else isn’t selling – is there a reason behind it? Do customers not need this item? Or are they simply missing a vital element in the product itself?
If it is selling well you need to discuss if the market will be easy to penetrate, or if one single company holds sway over all the sales. How easily can you compete with their product?
Information is power – Product Finder gives it to you, it is up to you to make these informed business decisions.
Can Any Product Finder Tool Provide All Of This?
No.
There are many Product Finder Tools out there, but they don’t all grant the same level of in-depth information. Some merely provide the competing brands on Product X. Others fail to give you the Amazon Buy Box pricing level. Most of them cannot differentiate by market region.
That is why SuperDisty’s Product Finder combines all of these in one easy-to-use version of the tool. With years of experience working in IT distribution and the eCommerce scene, we created a tool that costs less but does more.
No hidden extras or partial features that require even more purchases to be made available. Just one all-encompassing tool for an affordable price.
That is what we believe business should be.
Get in touch with a member of our team today to discuss your Product Finder options, or feel free to peruse our resources page to find more tips, tricks and guides to today’s eCommerce sector!
SuperDisty – Your Passport To Online Markets
