How To Do Competitor Keyword Analysis and How Does Competitor Keyword Analysis Help in Design Selection

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How To Do Competitor Keyword Analysis : In the world of e-commerce, where competition is fierce, businesses are constantly seeking strategies to stand out. One such strategy revolves around design selection based on keyword and revenue analysis for product selection. This approach is more than just choosing products that seem popular or profitable. It’s a methodical process that uses data to inform decisions, thus increasing the potential for success.

In this blog you will learn:

• About Design Selection
• Understanding Keywords for Product Selection
• Use of Helium 10 X-Ray for Design Analysis

The Importance of Design Selection

When selecting a product for online sales, let’s take the example of a garlic press. One might think that the most important factors are the product’s profitability and popularity among consumers. While these are indeed crucial, there’s another aspect that often gets overlooked – the product’s design.

Design selection plays a significant role in the product’s performance on the market. It’s not just about aesthetics; it’s also about functionality, usability, and how well it meets the needs of the target market. Selecting the right design can set a product apart from its competitors and significantly increase its attractiveness to potential buyers.

Conversely, poor design selection can lead to a product’s failure. A well-designed product that doesn’t meet the needs of the market or a poorly designed product that fails to attract buyers can result in low sales and revenue, regardless of how profitable or popular the product category may be. Therefore, design selection should not be underestimated in the product selection process.

Introduction to Design Selection Strategy

A design selection strategy based on keyword and revenue analysis involves identifying product designs that are not only popular and profitable but also have less competition and higher market entry points. This strategy involves a systematic approach to gathering and analyzing data on different product designs, their profitability, popularity, and competition levels.

Let’s consider this for example:
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Design Competition and Entry Points

The goal of this strategy is to identify designs with less competition and more accessible entry points. By focusing on these designs, sellers can avoid overcrowded markets where it’s challenging to stand out and instead target niches where there’s less competition but still sufficient demand. This approach increases the chances of a product being noticed by potential buyers and, consequently, the likelihood of making a sale.

Understanding Keywords for Product Selection

Understanding keywords is fundamental in this strategy. For instance, consider barbecue skewers.

A generic keyword for this product would be “barbecue skewers,” but design-specific keywords could include “bamboo barbecue skewers” or “stainless steel barbecue skewers.” These keywords give more specific information about the design of the product, enabling sellers to target more specific market segments.

Reverse Session of Competitors

A reverse session of competitors involves analyzing the top competitors for each design. Sellers need to ensure they cover all comparator designs and give them a fair share, with at least two to three top competitors for each design included in the analysis.

Top 3 sellers selected:

This process helps identify the strengths and weaknesses of each design relative to others on the market, which can inform design selection.

Categorization of Keywords

Categorizing keywords into generic and design-specific groups is key in this strategy. Sellers should list all keywords related to each design, such as all keywords containing “bamboo” for bamboo barbecue skewers, and check their search volume. The search volume of design-specific keywords gives an indication of the demand for that design, helping sellers identify designs with sufficient market demand.

Demand Analysis of Designs

Analyzing the demand for different product designs is a crucial step in optimizing your product selection strategy. This process involves assessing the search volume of design-specific keywords, which provides valuable insights into the market demand for each design.

For instance, if the search volume for ‘bamboo barbecue skewers’ is significantly higher than for ‘stainless steel barbecue skewers’, it would suggest that there is a greater demand for the bamboo design. This information can guide decisions on which product design to focus on, helping to maximize potential sales and profitability.

Use of Helium 10 X-Ray for Design Analysis

A powerful tool for conducting design analysis is Helium 10’s X-Ray. This Amazon product research tool can provide a wealth of information about a product’s performance, including its revenue, price, sales trends, and more.

By using Helium 10 X-Ray, sellers can gain an in-depth understanding of the market dynamics for each design, helping them to identify the most promising opportunities. For example, if one design appears to be generating significantly higher revenue than others, it could be worth considering that design for your product.

Data Analysis for Design Selection

Data analysis is a critical aspect of design selection. By examining various data points, such as brand names, ASINs, revenue, reviews, and price, sellers can gain comprehensive insights into the market performance of each design.

For example, a design with a high number of positive reviews might indicate a high level of customer satisfaction, suggesting that the design is well-received by the market. Similarly, a design with high revenue could indicate strong demand and profitability.

Depth and Stability of Design Revenue

When analyzing design revenue, it’s essential to consider not only the amount of revenue but also its depth and stability. The depth of revenue refers to the number of products or sellers generating revenue within a specific design category. A design with a greater depth of revenue is likely to be more resilient to market fluctuations, offering more opportunities for sales.

The stability of revenue, on the other hand, refers to the consistency of revenue over time. A design with stable revenue is likely to offer a more predictable income stream, reducing the risk of unexpected drops in sales.

Analyzing Brand Dominance

Analyzing brand dominance involves assessing the market share of different brands within a specific design category. If a single brand dominates a design category, it could be challenging for new sellers to gain a foothold in the market.

However, if the market is more evenly distributed among several brands, it might suggest more opportunities for new sellers to succeed. By understanding brand dominance, sellers can select designs where they have a better chance of achieving market penetration and success.

Final Thoughts on Design Selection

In conclusion, design selection is a critical aspect of product selection that can significantly impact a product’s success. By using strategies such as keyword and revenue analysis, sellers can identify promising designs with high demand and low competition.

However, it’s also important to avoid common mistakes, such as selecting a design without considering its market demand or competition. By making informed decisions based on thorough research and analysis, sellers can increase their chances of success in the competitive world of e-commerce.

Wrapping Up

Thank you for taking the time to learn about design selection based on keyword and revenue analysis. I hope you found this information useful and that it helps you make more informed decisions in your product selection process. Stay tuned for more informative content in the future, and best of luck with your e-commerce endeavors.