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All right so we're gonna talk about the product discovery 2

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tool now which is my favorite thing 3

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to use when I'm doing product research. 4

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Just because you're able 5

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to filter so 6

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many different things 7

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and and really get 8

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and dig in to 9

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get all the different maybe if 10

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you check out their YouTube channel they've got like 11

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eight different ways you could use 12

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and I'm sure they're going to keep doing 13

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that because there's just so many different 14

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ways to differentiate... 15

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Just like you should wanna to tell 16

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us about like what 17

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makes it I guess different 18

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from the from the other tools 19

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and ah the like 20

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what what kind of I mean you 21

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don't want to have to give away all the algorithms 22

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and stuff but like I've noticed it's 23

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different because 24

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I was pissed actually because 25

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I put in parameters that found a great product 26

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and then I was like I went upstairs I ate 27

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some food and I came back 28

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and I went to go do it again 29

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and it wasn't there. 30

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So like you guys refresh your data 31

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relatively often 32

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and like so that 33

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that's nice cause I know a jungle scout. 34

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Like when I first started way back 35

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a while ago they would 36

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ahI said like do these inflatable 37

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chairs. 38

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Or whatever those are called everybody 39

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use them and music festivals 40

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and stuff. Yeah. 41

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And then by the time like two months later there 42

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was hundreds of them uhm 43

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and there were some other products like that 44

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and so it would always spit out the same data. 45

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So like is there something going on that's 46

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like refreshing 47

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and like you're not like taking data from 48

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people whereas like like 49

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other. 50

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Competitors might be like. 51

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How does that work. 52

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Yeah I mean there's so many different 53

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elements that are different 54

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everywhere from yeah we're 55

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consistently updating our data 56

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and adding new products 57

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uhh or like new data 58

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to our system so 59

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we have a ton of systems in place 60

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that are going in constantly gathering 61

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new data to put it into our product 62

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discovery tool. So 63

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uhh if there's a new trend a new 64

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product out there ah 65

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new brands that are continually 66

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doing well 67

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or what new categories added 68

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to Amazon we're 69

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always just adding this stuff 70

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to our system 71

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and adding more data. 72

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So OK so you're like constantly 73

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pulling info from Amazon. 74

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Yep exactly. 75

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All like literally 76

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all day throughout the day. 77

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We're constantly refreshing 78

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old data as well so we try to keep 79

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everything within 30 days 80

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ah some a 81

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bit. 82

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Closer. I think like a couple 83

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of weeks anyways. 84

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We just want to have the freshest 85

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like largest data set possible 86

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so that you have the best opportunity 87

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to come up with great product ideas essentially. 88

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Okay. So yeah that's 89

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how we refresher we're always trying 90

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to show different data 91

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because we don't want everybody sourcing 92

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the same products. 93

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If we are showing these same 94

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kind of results we do have a little warning 95

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tag on there to let you know hey a lot 96

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of people are interested in this product 97

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is that by like clicks 98

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Yeah like it 99

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or is it just saves. 100

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No it's a lot. 101

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So it's by.. 102

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Okay. Clicks... 103

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It's by saves it's by 104

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interest in Market Intelligence. 105

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So we're just trying to get as 106

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OK. 107

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So because you know every time that somebody 108

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like goes to Amazon 109

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and then types and packet intelligence you 110

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could see what's really popular right. 111

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Ok Nice so.. 112

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We're just trynna... So they do use your data 113

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but only to help youx like. 114

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Yeah Yeah. 115

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So I mean again we don't sell ah so 116

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we don't. So if you go into 117

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market intelligence let's say you have you 118

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found like this amazing 119

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niche right. 120

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Search you know 121

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but let's say no one knew about fish 122

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oil right. And you search in market intelligence 123

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we will not use that word in 124

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product discovery. 125

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So like ah actual 126

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customer searches we don't use 127

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in product discovery we have 128

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other ways of finding keywords 129

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in Amazon that we're using. 130

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So Intel so 131

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you don't add keywords that your 132

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customers search into the system. 133

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No. Oh okay. 134

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That wouldn't be fair. 135

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Right. Like you come up 136

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with an inflatable 137

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lounger. Let's say you're the first one. 138

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Yeah. We add it to product discovery. 139

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Now show it to everybody like you know 140

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that wouldn't be. Yeah for sure. 141

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Okay. That's Interesting. 142

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Yeah Yeah. 143

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So we don't add that data. 144

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But when you run 145

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a search on the inflatable 146

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lounge or market 147

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and ah we see 148

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it in one of our other areas then 149

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like we'll use that data. 150

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Does that make sense. 151

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Yeah we've already if we're already aware 152

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of the word 153

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and you refreshed like yeah 154

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oh you don't. 155

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Yeah we would never steal anybody's ideas 156

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and then like make them available 157

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to anybody else. 158

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Oh. So not only do 159

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you not sell 160

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but you don't even show it to other sellers. 161

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No. No. Yeah. 162

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Oh okay. 163

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And to be fair like we're always trying to make 164

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sure that like keep things separated 165

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and honest 166

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for people and so I think 167

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you'd be pretty mad if like you were one 168

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of the first to find silver eclipse glasses 169

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and now that's like the word everybody is 170

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getting in product discovery right. 171

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Yeah yeah. 172

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So ah so yeah. 173

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So our big focus on this tool like 174

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a lot of other tools have products search ah 175

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So that is the... like 176

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Least of our focus. 177

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Our main focus ah 178

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for the average seller 179

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is on keyword. 180

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So we really are focused on having 181

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high quality keywords 182

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making it really fast to find 183

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good product opportunities. 184

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And so you can use keyword tool. 185

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Again we focus on 186

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trying to have as high quality words 187

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as possible can filter by 188

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the star rating to find you know five 189

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stock markets very quickly 190

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and hopefully that 191

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at the very least you know spark 192

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some ideas 193

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or uhm interest 194

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in opportunities. 195

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We also like nobody else 196

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shows brand search 197

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so you can filter now through brands 198

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to find brands that are performing 199

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really well. 200

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So that you can either go 201

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see what products are helping to drive their success 202

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or you can also go maybe buy 203

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one of their products to see how are they eliciting 204

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reviews. How are they you know driving 205

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sales do they have a Facebook page that's 206

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performing really well 207

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with like to get ideas. 208

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What is it Shopify store look 209

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like. You know really if these brands 210

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are successful I wanna know how 211

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and through product discovery we'll 212

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actually find those brands in 213

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your categories that satisfy 214

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your criteria so you 215

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can come up with these learnings essentially. 216

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We also allow 217

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you to sort through Amazon categories 218

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and 219

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allows you to find 220

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niches of opportunity. 221

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So ah you know finding 222

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it under you 223

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know beauty 224

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and then creams 225

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in phase like you 226

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can really dive deep to find niches 227

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of opportunity. 228

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And so seems 229

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like larger sellers tend 230

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to like the brand searching 231

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category search because they find great 232

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opportunities 233

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but it's not very direct. 234

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Right. Like they 235

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don't want it to be super easy because if it's 236

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easy a bunch of other people are probably finding 237

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Oh if you find this 238

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brand or this category 239

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and you like know how to sift 240

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through the data to find good opportunities it's 241

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a lot less likely that other people are finding them 242

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because like you took all these random 243

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steps. Yeah. 244

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Anyways there's just 245

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a ton of data where 246

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you don't have a product tracker because we're already 247

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tracking all 248

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of these products for you. So if you go use market 249

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intelligence you're 250

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able to see all the trends 251

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and sales and a lot of these products we've 252

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been tracking you know for years. 253

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So there's no point in using 254

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or having a product tracker because 255

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we are naturally a product tracker 256

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and have a lot more historical 257

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data than you will get. 258

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Yeah yeah. So. 259

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So if we want to go into that so 260

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you have market you have the 261

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the product discovery research tool 262

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but then you also market intelligence. 263

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Correct. 264

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And so market 265

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intelligence is is just like a 266

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sales estimater. 267

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It tells you kind of that. 268

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And then also the ideas that 269

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give you the idea score when you type in a 270

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keyword. Oh yeah. 271

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It just doesn't suggest you idea 272

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keywords so big product 273

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discovery does. 274

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Yeah. So product discovery is like 275

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coming 276

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up with ideas and there's there's some high level 277

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stats to show you like why it's 278

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a good idea. Right like. This satisfies your bride 279

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criteria. It's selling enough units 280

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at a good price point the 281

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margin is okay. 282

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It's been trending up over the last 90 days. 283

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And then you use market intelligence to go validate 284

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that idea. So you go plug 285

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it in because market intelligence is 286

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real time data product discovery could be you 287

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know a couple of weeks old for example 288

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and also so what market 289

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intelligence does is it shows you how is price been 290

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trending in this market. 291

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How how reviews in 292

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sales been trending in this market. 293

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What do my 294

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exact competitors look like uhm. 295

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And basically market 296

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intelligence is a lot more fine 297

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grained real 298

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time perspective of 299

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the market. Oh OK. 300

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Nice. So oh 301

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then then lastly 302

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I want to say is 303

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that the data I've seen. 304

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It's it's it's 305

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more accurate than 306

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other estimaters. 307

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Is there like a reason 308

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why. So is. 309

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I know some of them just use the 310

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9 9 9 trick and whatno. 311

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But I guess you were 312

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in a unique position where you have customers that 313

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like... yeah. You can like not 314

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not like share their info 315

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with anyone but you could correlate what 316

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the BSR to the 317

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amount of sales is that kind of how you get such 318

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a Better... Yeah. System. 319

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Yep. So we have billions 320

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of dollars in sales data. 321

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We also have historical best seller rank 322

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for all of these products. 323

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And so what we've been able to do is 324

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map 325

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out for each market the 326

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relationship between best seller rank 327

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and sales. 328

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And so we update our algorithms 329

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nightly so it's always you 330

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know using the freshest data possible 331

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uhmm and yeah we 332

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don't use any 9 9 9 methods. 333

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Also a big difference is how we 334

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actually look at best seller rank. 335

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So BSR trends 336

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are like barries you 337

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know hour to hour day to day week 338

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to week and so you know if 339

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you look at a tea pot with let's just say if you 340

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if you will get a 341

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tea pot in 342

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the morning the best the BSR is going 343

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to be different than at night because people will let's 344

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say drink their tea in the morning so then 345

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they realize they need a new tea 346

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kettle and that's when they buy 347

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or maybe they only drink tea on the weekends. 348

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So best seller rank will be different on 349

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the weekends than it is during the week. 350

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And so our tool takes into account all these 351

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fluctuations. We don't do averages 352

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or anything like that. We take into account all 353

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these fluctuations to uhm to 354

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build ourselves estimate 355

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for that last month. 356

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So maybe you we're 357

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out of stock or maybe you ran a promotion like 358

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we take into account all these 359

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fluctuations to build our sales 360

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estimate. 361

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Douglas Scott just looks in other 362

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tools just look at what your best seller rank 363

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is right now. Yeah they they assume 364

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that it's been the same over 365

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the last 30 days and they give it... it is just 366

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not true. 367

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Right exactly. 368

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But but then also I 369

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guess where you guys have very 370

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accurate data at 371

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the top and the bottom of the market. Yeah. 372

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Because I've looked with... uhm II've 373

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Looked with jungle scout 374

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and some 375

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opportunities look ugly 376

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and then I've looked 377

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with yours and they don't look ugly. 378

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Yeah. 379

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So we part 380

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of the reason is I mean we just have sellers 381

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that some sometimes are 382

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products and number one best 383

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seller in their category 384

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and they're selling you know 36000 385

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units a month or the most I've 386

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seen in a single month is I 387

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think it was sixty nine thousand... 388

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yea yea like Sixty three 389

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sixty nine thousand units sold 390

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in a month on 391

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one of these products. So like we have the BSR 392

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is at the top so we're able to appropriately 393

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draft them essentially. 394

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Oh OK. 395

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That's that's where it makes sense because 396

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you have that. OK. 397

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That's why. Yeah. 398

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So it's so very 399

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important to check out the market intelligence 400

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on on your 401

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your list on on on just the 402

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ideas because 403

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it does make a very big difference because I mean on 404

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my solar eclipse glasses it 405

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was only saying that I was selling 300 406

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units a day 407

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and I was selling three thousand. 408

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Well yeah. 409

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So 10x difference. 410

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Uhm So just actually 411

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Kevin David head of 412

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research video on YouTube and he was looking at my 413

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and he just looked at a total ROI 414

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eclipse glasses. That's 415

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not bad. Like they're making no money. 416

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They're doing all these giveaways 417

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and he pulled up my 418

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product and I was still just 419

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laughing because I was like Oh this 420

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is totally wrong data here. Like if you had the 421

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other one then it 422

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would be a different story. And if you knew who I was. 423

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But anyways so yeah. 424

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Make sure you use that on 425

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you know the product discovery tool 426

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is cool. 427

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You don't need to use it. But it's 428

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it helps you save time 429

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but the market intelligence is 430

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probably a good buy 431

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just to validate your idea just cause you want 432

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to get good accurate numbers before you 433

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place an order on something. 434

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Yeah. Yeah I mean you'd 435

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like to know how many units somebody is selling 436

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or you know how how their 437

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sales been trending 438

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or maybe there's a big spike in 439

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BSR and it's 440

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been dropping back down and now you know you 441

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can say oh they ran a promotion 442

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or or like the 443

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big things are you know fidget spinners 444

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in February looked 445

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amazing their 20 dollars a unit 446

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and they're BSR 447

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was amazing 448

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but had 449

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you looked at the like market 450

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intelligence graph you could see that price started 451

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at 25 30 dollars so 452

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it has a price trend. 453

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Yeah. So I always want 454

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to see how price has been trending. 455

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So had you looked at Fidget spinners 456

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in you know February 457

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you wouldn't have jumped in because you would 458

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have seen price was dropping for that market. 459

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So OK. 460

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Does it have average 461

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reviews like over time for 462

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the first page. Yeah. It does?. 463

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It has a review trend 464

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and you can see how that's been trending. 465

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We'll also show you how sales 466

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year over year if we have 467

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the data. So yeah we try 468

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to provide a 469

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good overview of the market so you understand how the 470

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market is trending versus a couple of reasons 471

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or something. Yeah cool. 472

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Yeah yeah yeah well definitely 473

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good info and check out the two 474

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if you guys want to move on 475

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to the next video.