What is Product Scorecard?
Product Scorecard is a tool within Data Dive designed to evaluate the risk level of a specific niche after answering questions in four categories;: traffic distribution, profitability, potential, and competitiveness.
By answering section-specific questions, you receive scores indicating risks or opportunities. Negative scores highlight risks, while positive scores reveal potential opportunities. Upon completing all sections, you will obtain scores for each component as well as an overall score, providing a comprehensive evaluation of the niche's viability.
How to use Product Scorecard?
- Number of Keyword Roots
Step 1: Navigate to the "Roots" tab, identify commonly used root terms for alternative product names, and mark the checkboxes next to the corresponding keyword roots.
Step 2: Now proceed to choose a suitable response for this section.
- Distribution of Root SV
Step 1: Check the search volume percentage for the top two roots by hovering over the respective column on the right side.
Step 2: Add up the search volume distribution for the top two keyword roots and choose a response.
- Example: If your top 2 roots have 0.4 and 0.3 = 0.7 which is 70%, you would choose "more than 50%"
- Number of Relevant Keywords >150 SV
Step 1: Navigate to Master Keyword List.
Step 1b: These are all of your relevant keywords. We’ll have to filter out any keywords with search volume under 150.
Step 2: Set the search volume filter parameters. This will narrow down the list to keywords with search volumes above 150.
Step 2b: After we’ve applied the filter now you can see here that we have 43 keywords surpassing this threshold.
Step 3: Now choose a suitable response for this section.
- Product Lifecycle
Step 1: Product relevance varies from under 12 months to over 5 years. Caution should be exercised when choosing a product lifecycle exceeding 5 years, as technology advances and product upgrades emerge over time.
- ROI (Profit / Net Landed Cost)
Step 1: To determine the ROI, divide your profit by your net landed cost. You can calculate ROI manually or use the “Profits” tab.
- Potential refers to the additional improvements that can be made to the design, packaging, and logistics of a product. Choose a suitable response.
Step 1: Go to the Master Keyword List and look for the competitor's review. Count all competitors who have more than 1,000 reviews.
- Amazon SEO
Step 1: Go to the Master Keyword List and find the Competitor Search Volume Strength. Sum the number of competitors in the very strong (red) and strong (orange).
- Average Price Point
Step 1: Go to the Master Keyword List and locate the competitor's "Prices". The Niche median column displays the average price point.
Step 1: Go to the Master Keyword List and look for products whose country is listed as Amazon.
- Visual Content
Step 1: Go to the “Deep Dive” tab and click "collapse all". Evaluate the image galleries and determine if the competitors have great images and A+.
Step 1: Go to the “Deep Dive” tab and analyze the Google trends.
- Be cautious when dealing with seasonal products compared to year-round ones. If you're new to selling, it's best to avoid launching a seasonal product as your first venture.
Step 1: Go to the “Deep Dive” tab and select expanded view so you can see variation attributes.
- Major Brands
- Major brands are sold in retail or have large branded search. If you aren’t familiar with your competitors, you’ll need to do additional research to find out if these qualify as major brands.
- Developed Niche
Step 1: Go to the “Deep Dive” tab. Check the competitor's image gallery. You'll notice that the leading competitors offer bundles or multipacks.
- While it is possible for you to sell the same product as these competitors, differentiating it further from existing offerings might pose challenges and involve some degree of risk.
- Written Content
Step 1: Go to the “Listing Builder” and go to the “Battle of the listings”. Look at the competitors if they have 3 or more of the top keywords in the EXACT form in their title.
The Total Product Score will be determined by the sum of the points you have entered.
Completed Positive Score:
Completed Negative Score:
The scores you recently recorded for each niche will be displayed in “Niche Pipeline”, categorized as either positive or negative.
- To sort them, simply click on "Score”. The positive scores will be displayed…
- …as well as the negative score.
Anatomy of Product Scorecard:
- Niche Name: refers to the name or title of a specific product niche or category.
- Exclusions: Sellers can see the excluded keywords, phrases, and ASINs that are non-relevant.
- Niche Settings: refers to a set of criteria that can be applied to filter and narrow down the search results for products in a particular niche. These settings include Minimum Search Volume, Maximum relevancy, Maximum rank, and Minimum number of words.
- Assignee: This shows the user within your organization who has been assigned to this research.
- Researched: Shows the date of when the most recent research was completed for this niche.
- Announcement: Here the user can view announcements from Data Dive including Office Hours topics and new feature release updates.
- Notification: Here the user can view notifications and reminders to complete standardized research. Clicking on the icon will reveal all of the research tasks that have been scheduled.
- Feedback: Rate your experience.
- Resource Center: Users can ask questions, give feedback, and access resources such as guided tours and a knowledge base to enhance their understanding of the tool.
- Traffic Distribution: How the traffic is divided among different sources or channels.
- Number of Keyword Roots: The total count of primary keywords or search terms relevant to a product or niche.
- Distribution of Root SV: The spread or allocation of search volume among different keyword roots.
- Number of Relevant Keywords >150 SV: The count of keywords with a search volume greater than 150 that are relevant to the product or niche.
- Profitability: The degree to which a product or niche is financially viable.
- Product Lifecycle: The duration for which a product remains relevant or popular.
- ROI (Profit / Net Landed Cost): Return on Investment, calculated as profit divided by net landed cost.
- Potential: refers to the additional improvements that can be made to the design, packaging, and logistics of a product.
- Packaging: Whether it is possible to reduce costs by altering the packaging.
- Fulfillment: Whether it is possible to reduce shipping or fulfillment costs.
- Utility Patent: Feasibility of obtaining a utility patent for the product.
- Design Patent: Feasibility of obtaining one or more design patents for the product.
- Features: Possibility of redesigning the product and adding desired features.
- Competitiveness: The level of competition in the market or niche.
- Reviews: The number of reviews obtained by top competitors.
- Amazon SEO: The optimization of a product listing on Amazon's platform for search engine visibility.
- Average Price Point: The average selling price of products in the chosen niche.
- 1P: The presence of competitors that are bought and sold directly by Amazon.
- Visual Content: The quality and availability of visual content for marketing and sales.
- Shrinking: Google Trends
- Seasonality: The impact of seasonal fluctuations on the product or niche.
- Variations: Indicates the number of competitors among the top ones who offer multiple variations of their products.
- Major Brands: Indicates the number of top competitors that are well-known brands and have a significant presence in retail.
- Developed Niche: Indicates the number of top competitors who offer bundles or multi-packs in the niche.
- Written Content: Indicates the number of top competitors who include three or more of the top keywords in their titles.
- Total Product Score: The Total Product Score will be determined by the sum of the points you have entered in the Product Scorecard.