You've established a product in a market and worked hard to make it a success, but every day, competitors are working to unseat you from your position as a top seller. How do you proactively gather the data to guard your product's success?
Or, you're contemplating selling a product in a new, unfamiliar market, but there are dozens or hundreds of competitors fighting to be the top sellers. How do you craft a plan to launch a product that competes and outperforms the top sellers?
In a demanding online retail world, effectively monitoring your existing or potential markets for changes and/or opportunities--while still having time to manage the rest of your business--can seem impossible.
Fortunately, Helium 10's Market Tracker allows you to design a Market based on your own criteria, and then, every day, Helium 10 tracks and reports that Market's findings for you to review. The impossible is now made possible.
Market Tracker works in the U.S., Canadian, German, Spanish, Italian, French and British marketplaces. The number of Markets you can create are set by your plan.
- Elite: 15 Markets
- Diamond: 10 Markets
- Platinum: 3 Markets
- Free Plan: 1 Market, limited access of 20 tracked products
This tool does not require a MWS Token. Let's get started.
1. Open Market Tracker from the left side menu on the Helium 10 dashboard. The first time you open the tool, you'll see a welcome page with the basic benefits of activating and using Market Tracker. Click the blue Get Started button located on the left side of the screen under the Overview text.
2. The Market Tracker dashboard will eventually display your data, but the first time you open the tool, the window will be empty. To begin, click on the blue Create New Market button located in the center of the screen.
3. You build your Market by creating a logical name for it, selecting the marketplace, then adding in the most relevant keywords and ASINs. Keep in mind that the Market only exists once you create it, moving forward in time.
Some of the data Market Tracker displays comes from each ASIN's last 30 days. For example, the estimated revenue, estimated sales, and the market volume are all dependent on ASIN activity during the month leading up to the creation of a Market. The analysis for things like Market Share, though, only exist once you create a Market. If you delete a Market, that data permanently disappears.
4. Name your Market.
5. Select your Marketplace.
6. Add five Keywords and ASINs. The best way to curate keywords is to use Cerebro. You might begin by adding your own product ASIN and its top competitor ASINs into Cerebro, and then searching for the most relevant keywords. It's important to choose the keywords carefully because you won't be able to change them later.
You can use ASIN Grabber to find relevant products and their ASINs. Go to Amazon. Search for a specific product--either your own existing product, or a product that most closely resembles the product you hope to sell, and then, on the search results page, open the Helium 10 Extension and click on ASIN Grabber.
When ASIN Grabber opens, review it for the most relevant ASINs.7. Type in the five most relevant keywords (based on your research) into Add Keywords. Add the most important ASINs into the Add ASIN field.
8. When you have completed the form with your Market Name, your most important five Keywords, and your baseline group of ASINs, click the blue Create Market button in the bottom left corner of the screen. Market Tracker will alert you that the new Market has been successfully added. Click OK.
9. Market Tracker may take several hours to establish your initial Market.
When the Market has been built, you'll see a new message under the Status column.
10. Once the basic parameters have been set up, you will be able to click on the Market and see the data fields. Initially, they may be empty. Helium 10 updates the data once a day, so you might need to wait up to 24 hours to see data begin to populate your new Market.
11. Within 24 hours though, you should see data populating your Market. Up to this point, the Market data has all been entered by you, but now, Market Tracker starts relentlessly monitoring and giving you suggestions to expand and deepen the research. The dashboard will display a new message stating that your market is ready, and alerting you that, "You have new Suggestions."
12. Click on the linked Market name to open the file. At the top, the Market dashboard includes a line graph and pie charts with your data. If you scroll down, you will see the suggestions of additional relevant ASIN generated for you by Market Tracker.
13. If you see a Suggestion you like, click the green Track button to fold it into your Market.
14. When you add an ASIN into your Market, the data for that product will be displayed in the columns to the right of the product's image and title. Daily, Market Tracker will report on each product's reviews, review rating, price, estimated sales and revenue, BSR, distribution method, number of sellers, as well as its calculated sales share and Market share.
The Power Score is Market Tracker's analysis of just how relevant the product is to your initial Market criteria. A higher score signifies high relevance, while a low score signifies less relevance. The Power Score may change day-to-day, depending on the ASIN's activity.
15. The last column contains links to help you quickly deepen your research on a product. You can open Cerebro to investigate the product's keywords, or you can open the product's Amazon listing page, or, if you decide to remove the product from your Market, you can click on the Ignore bin to move it into the Ignored Products list. The product will never be completely deleted from Market Tracker. You can always add it back into your Market later, if you change your mind.
16. Back on the Suggestions list, if you decide to Ignore an ASIN because you don't consider it part of your Market, click on the red Ignore button. Market Tracker will remove it from the Suggestions list, and add it to the Ignored Product list.
17. If you later realize that you didn't want to Ignore a specific ASIN, you can change your mind and add it back into the database of tracked ASINS. To find it, set the page filter to see all Ignored Products.
18. On the Ignored Products list, find the ASIN you now want to Track, and click its green Track button. Market Tracker will transfer it into your Market.
19. If you want to efficiently Track or Ignore new suggestions, simply click all the ASINs you want to take action on, then either Track or Ignore them.
20. If you want to see how much of the Market your ASIN represents, compared to the competitors, you can click on the small box under the product title to assign it special significance. Market Tracker will incorporate its special status into the My Market Share data charts at the top of the window.
21. To see extended data on each product in your Market, click on the rising data icon under the columns for Est. Sales and BSR. To close up the data, simply click on the icon again.
22. If you want to manually add an ASIN after the Market is created, but it doesn't show up as a suggestion, you can do it manually from the main dashboard.
Paste or type the ASIN into the field in the pop-up window, then click the blue Track button. The ASIN is now added into your Market.
Although there are no limits on the number of ASINs you can track in a Market, we recommend an optimal number of 100 to 150. If the Market is attempting to track too many products at once, it will be difficult for you to analyze it effectively. Also, your best strategy is to limit the ASINs solely to the ones most relevant to your own product(s).
To watch the Pro Training video on Market Tracker, click on the video icon on the dashboard, or go to PRO Training on the Helium 10 website.