Take the guess work out of product development with niche mastery.

Folks, your product development shouldn’t be based on guess work. Let the data tell you where the opportunities lie. Many sellers churn out keyword research and call it a day, thinking that healthy keyword volume and relevancy are all you need to make educated decisions, but there’s so much more to it than that.

Enter Smart Scout. Amy and Michael White geek out over this fascinating tool, and show sellers how to make the informed decisions that will help them connect with their customers down the line.

Find out more by clicking on the video:

What is Niche Mastery? How Does It Impact Product Development?

Here’s the context you need: Amy wants to launch a line of collectible soaps. She and Michael are on a mission to see if it’s a viable idea – and what opportunities lie within the niche.

There are a couple of things that need to be considered:

1. The health of your planned category & sub-category
2. Monthly revenue estimate of the top competitors in that space
3. Estimated revenue of variations
4. Seasonability and trending data to help you gauge the growth of the market
5. In-depth analysis of the competition, so you can pivot your approach

Frankly, Smart Scout is a beast of a platform. There are so many different numbers to consider, so thankfully there’s a tool that contains all the tools and formulae to help generate those numbers and provide you with a careful look at the niche and what competitors are doing within that niche.

Fascinatingly, Amy and Michael show you where to look, how to look, and what to look for – for example, for collectible soaps, you’ll want to check out the data over at soaps, and also over at collectibles.

This is where intuition comes in – what are the products that dominate in the soaps category? Where are they winning, and where could they improve? How about in the collectibles category? Which are the successful stores, and what products do the best inside those stores? Now, 1+1= a successful product, so how can you take the idea from soaps and add it to collectibles to make a truly unique and well-differentiated product?

Thankfully, both Amy and Michael have heaps of the analytical acumen and the intuition to go nuts with Smart Scout. 

Inspiration Beckons With Niche Mastery

Remember what we said about checking out the data in a couple of niches to see where opportunities lie?

Basically, Smart Scout allows you to use market data to give you ideas on how to further differentiate your product idea, using hard facts and numbers. In other words, you’re checking real market trends, not just off quick keyword research, but through truly understanding the niches that your product could be categorized under.

You’d gauge growth. You’d anticipate revenue. You’d understand traffic and the number of units sold.

Then this all dials down to shipping forecasts, how many units you plan to buy, what times of the year your product might do really well, and which variations people are looking for.

Smart Scout gives you a glimpse of the market with all the hard data you need. So, product development becomes much easier. Start off with the seed of an idea in your head. Then head to Smart Scout and play around with the numbers. Figure out what’s selling, what isn’t selling, and when it is / is not selling. Understand the niche you want to be in – is it even a well-performing niche? Is there way too much competition? Or perhaps too little?

Once you’ve collected all the data, and you see the niche as a whole, that’s when you can start being intuitive, and playing around with your product ideas. Refine those ideas based n the research you’ve conducted.

After all, product development, as with selling on Amazon and business as a whole, is both an art and a science. 

Let Smart Scout figure out the science for you, so you can make awesome, unique, differentiated, profitable art.

Enjoy!