PART 3. Identifying the HUNGRY MARKET
Let’s focus now on finding “hungry” market.
And here’s the concept of becoming a “marketing hyena”.
There is a common knowledge that hyenas are not really hunting and stalking the prey for hours before killing it. They are tagging along with the bigger predators, and once the predator had finished with their prey, they come out typically during the night, while no one is watching, and they feast on the carcasses. I know - it is quite gruesome but it represents becoming “marketing hyena” concept.
When you just starting your business, you don’t have a lot of available funds (even if you do – you should conserve them), you don’t have enough time, resources, to commit to building this business.
I suggest that you train yourself to observe the bigger operators, not competitors yet, see what they do, learn from them, and replicate their marketing and selling process. Once you did - better the process because you have more agility than bigger operators, you can test and measure on a smaller scale, make faster calls on better marketing techniques, and move much faster than those big guys, agreed?
So, train yourself as a researcher and this is what we’re focusing now - how to become a good researcher, how to recognize the pattern, the trends. Observe the existing market places. See what is happening in the marketplace, observe and understand it, make notes on it, and open your eyes to see everything as the marketing. Don’t see the marketing as a junk, advertising messages as a junk, read into it, see what it means, why is it crafted this specific way - because those bigger companies spend thousands and thousands of dollars coming up with something that works and you can easily, if you open to it, borrow their strategies.
Let’s now go through the process of identifying “hungry” market. Are you ready? Get set. Pay close attention. Let’s goJ.
So here is the website that in New Zealand, I am based in New Zealand, we’re looking at, this is similar to your eBay in Australia, and America, and UK, or Amazon.
This is the auction website. I go here and I open my Baby gear stuff because this is where my childhood products are. And I look at the items being sold, right? So I see that most populous category here, 26,956 items being transacted sold as opposite to 213 here or 445 there.
I take a note of it and I drill in further. We go down on clothing and I see that we have footwear and accessories about 3,000 bulk lots whatever it means 3,900. That’s a good indication.
Tops, 4,200.Wow! Interesting. Okay. So then I go into bulk lots and I dissect my category even further.
I’m drilling into my niche and I see that newborns attributed to 1,200items being sold; 3-6 months old is about 1,000; 6-9 months, 630; 9-12, 421; 12-18, 504; and 18-24, 152. It is profound, guys, because now, you see how it declines with the time and there is a good reason to focus on the newborn because it’s most populous category to begin with, right?
Now let’s do exactly the same on the eBay. We check our categories. And typically on eBay, you have 3 levels of the categories. The top product category, then you have your subcategory, and then you have your sub-subcategory. A simple rule that I suggest you to observe, while you are learning is - the deeper you are in the category, the more narrow niche it is. Does that make sense?
So we go into our baby clothing, 144,000. This is Australian website. And we also sorted by number of bids. Most bids first, right? More bids - indicates a lot of activity. It doesn’t indicate that’s a hot item. It just indicates that people are bidding for it.
As per previous process - I do it in the baby gear section by number of bids. And suddenly, I have this travel cot which attracted 151 bids which is quite substantial. And the next item there is 68 bids and 58 bids.
This gives me an idea that this is something potentially could be trending. Next – I set to verify my selection on eBay as well. And I grouped my results by number of bids, most number of bids first. And I also see these interesting contraptions that are portable baby cots but I also take a notice that it’s called a baby bassinet as opposite to what I found initially: baby cots. That’s opposite to baby portable bed. Okay. So, I go to eBay USA and I type in baby bassinet.
By the way, in order to be in a different country and treated by website as you’re in that country, you need to use private VPN provider like HMA. So that the website actually serving to you the local content, not an international content.
This is a very important point of distinction; please take a special note of it. Next, I go here and I check my baby cots or baby bassinets as they called in US.
Then I do exactly the same in the United Kingdom. We’ve searched what’s trending there and we take a note of all the items that we found which gives you a good idea. And then we do the same on Gumtree, and then of course on the Amazon, Craiglist, etc.
Now we found all the items and we form in our minds a picture what we can potentially be focusing on based on the results of our findings.
Now, let’s verify our findings. So we decided that potentially, baby bassinets or baby cots or baby portable beds are good product and we can call it the A-class product. So let’s verify our finding.
We now go to a keyword research tool or keyword finding tool by Google and we see how many local monthly searches or global monthly searches are for that particular key phrase, baby travel cot.
And if we have a high volume of the search and also high volume of advertiser bidding for the keyword, then it indicates potentially indicates the hotness of the product or demand for the product, right?
Yours for finding hot products success,
Creator of RPR Method