7 Ways to test market potential of a brand

7 Ways to test market potential of a brand
7 Ways to test market potential of a brand

An international brand with the spirit of locality can bring different touches to foreign consumers and make your brand market visible internationally. As an operator in Pakistan, based on your familiarity and intuition with the market, you may be able to easily judge whether a product has market potential in Pakistan, but what if you leave here?

What do consumers on the other side of the world like? Does anyone want to buy the company’s products on Amazon? If you are the boss and manager of a Pakistani brand, while creating successful cross-strait sales, are you also thinking, “Which other countries can our products sell well?”

This article will tell you what tools are available on the Internet to help you analyze and judge, and let you know whether your product has sales potential in foreign markets.

Why test and verify?

If the company plans to launch a new product, we will conduct market research on the target sales area before going public. Because it is difficult to know what consumers want from the perspective of the company alone, and everyone wants to avoid investing too much time and money and getting nothing. When you want to cross out of Pakistan, if you can test and make judgments through these network resources in advance, you can avoid having to go directly into an unfamiliar market.

The first step is to find out the search popularity of product keywords

There are tens of thousands of consumer behaviors happening on Amazon every day, and the first step for consumers to get on Amazon is to name the product they want to buy. Here, we directly use glasses as an example to help you quickly understand.

Merchant Words is the most familiar and representative website for analyzing Amazon keywords on the market. They collect more than 20 million most frequently used keywords. The method of collecting data is very similar to the way Google builds a database.

Collect frequently used keywords directly from the Amazon website and the search volume of keywords on other search engines, and then estimate the search volume of individual keywords on Amazon each month through statistical analysis. And through such data, we can know whether the keywords of the product are popular.

Example

For example, when we type “glasses” on Merchant Words, the report analyzes the frequency of related words in Glasses. Including glasses that were searched once, Glass on glass searched 500 times, and glasses searched 1635,000 times. These data are collected by the system. Of course, they will also limit the number of times you search for keywords every day and require you to become a paid member on the Internet to get the most complete data.

Another keyword search software like Merchant Words is Keyword Planner, which is a keyword tool produced by Google, which allows users to see each keyword in different regions the number of searches that occur on Google each month. The Keyword Planner is different from Merchant Words in that it only restricts the keywords that have been searched on google, and it is difficult to obtain comprehensive information. Therefore, it is recommended to cross-check the two results.

Create a new era of your products, start by knowing the keywords of current trends: Google Trends

Google Trends provides many search keywords for the latest trends, including the recent New York Fashion Week search related words will be on the top. Going back to the previous example of glasses, the growth curve of the past ten years is right in front of your eyes (Figure 1). If you want to know which area is most frequently searched for “glasses”, you can also see it above (Figure 2).

What may surprise you is that the number of search glasses in the Isle of Man is much higher than that in the United States! However, it should be noted that Google Trends is based on the analysis of the search population of the area compared to the number of searches for this keyword. Therefore, it can only be said that the proportion of searches for glasses on the Isle of Man is very high, which does not mean that its search. The number is really larger than that from the United States. If you want to analyze the reasons more deeply, you may need to spend more time to understand… (Why do people on Isle of Man like to search for glasses? I want to know too!)

As for the keyword search of competitive products that the boss cares about most, Google Trend also analyzes the cross-comparison graphs of all competing products to understand the ups and downs of all keywords on Google. Take glasses as an example, and search for sunglasses and reading glasses together. The following is a scale diagram for distinguishing the search for these three products.

What are the keywords for Americans? There are thousands of different idioms.

Google Trends can help us understand the search proportion of products in that market, but how do we know that the search keywords must be correct? We understand different countries have very different keyword searches, including countries that also speak English. This is the way the US West Coast is accustomed to using glasses to search. What about people on the East Coast? Not to mention the UK, which pays attention to the use of English words, what is their most common search method? When testing different markets, deciding on the right keywords plays a very important role, because you must think from the perspective of consumers in these regions. What keywords will they hit on Amazon? The easiest way is to go to Amazon’s website, analyze the keywords most frequently used by competitors of your company’s products in that region, and then use the information generated by the keywords to determine the competitive strategy of product marketing.

In the case of glasses, the free information on the above website is just a basic base. Next, define the keywords, design feelings and even competitors of the glasses. It is much easier to do the real test on Amazon.

Q: As a cross-border e-commerce operator, which tool do you recommend the most?

A: Generally speaking, we will use internal high-level tools for analysis. Of course, different network resources have their strengths, but they also have their shortcomings and need to be further improved. Therefore, we recommend that you cross-use, and you will get very useful data belonging to your brand!

 

Q: Just relying on keywords can tell whether the product has market potential on Amazon?

A: Keyword is an area worthy of brand market analysis, especially when the product is going to another market, we can use these keywords as a starting point, test the water temperature on Amazon, and see what the market is. Response, and for different tools can be used for cross-comparison to obtain more information.

P.S. I want to know if you have any more interesting experiences to share when doing market analysis. I look forward to someone can add your experience to the next part. I will continue to discuss the big secrets behind these numbers on Amazon.

Author

  • An MBA graduate specialized in Marketing, with proven abilities in digital Marketing, New product development, and advertisement. A professional Digital Marketer, blogger, web marketing services provider, Advertiser, Promotions, and Relationship Marketer. Highly motivated with a great degree of flexibility to adapt to changes, resourcefulness, and commitment to work; ambitious and capable of resolving multiple and complex issues.

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