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SESSION 2: Advanced Product Research T H E M I L L I O N D O L L A R C A S E S T U D Y E U R O P E

The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

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Page 1: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

SESSION 2:

Advanced Product Research

T H E M I L L I O N D O L L A R C A S E S T U D Y

E U R O P E

Page 2: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Enter at www.junglescout.com/giveaway

3 Winners selected every week for all of 2017!

1 Prize for Each Winner▹ 1 Jungle Scout Lite Extension▹ 2 Jungle Scout T Shirt▹ Featured on the Website!

Part 2: Session 2 Giveaway

Page 3: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Brie (Winner of JS T-Shirt)@junglescout will give me freedom in my life – there's no better feeling than putting time & dedication into YOU. #MillionDollarCaseStudy

Lisa Schaab (Winner of JS T-Shirt)I just turned 50. I have been trying to make money online outside of my 9-5 job for 20 years. The most difficult part is completely trusting that the investment will actually make me a success this time and I can pay for my kids college.

Page 4: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

“Keoki (Winner of Lite Extension)Jungle scout has shown me exactly side by side how to launch my first private label Product which will be live in 2 weeks. I don't even have a computer I'm doing all of this on my phone and tablet and the #milliondollarcasestudy has shown me step by step how to launch my product. This means so much to me I've been stuck in the same company for 10 years working long days and sacrificing quality time with my family which I will do no more! And I will succeed!! THANK YOU GREG AND JUNGLE SCOUT TEAM

Page 5: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Share your #MDCSchallenge Progress

Post an Update

Tag @junglescout using the #MDCSchallenge

Share the love

◍ Twitter ◍ Facebook ◍ Instagram

Earn points

Submit your challenge updates through the Giveaway and earn points to win weekly prizes!

Page 6: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Progress so far...

MDCS Part 1: US launch 🇺🇸

◍Launched second product, Jungle Snugs

◍Now profitable◍Total revenue to date:

$316k

MDCS Part 2: UK launch 🇬🇧

◍Began the whole process from the start

◍Curated a big list of product ideas

◍TODAY: diving deep into the data...

Page 7: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

What We Will Cover Today

Dive into the dataWe are going to take a more detailed look at the sales data for our top product ideas.

Assess trendsExplore market depth and the competitor landscape more closely for our top product ideas.

Product DetailsDouble check the product is easy to source, profitable, and find out whether we can make improvements.

Page 8: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Revisiting: The Product Criteria Blueprint

The main product criteria stays the same for FBA Private Label in Europe:

Must have:◍ Existing Solid Demand◍ Low Competition◍ Good Margins◍ No Legal Issues

Nice to have:

● Small/lightweight

● Easy to source and ship

● Able to improve

● Low Seasonality

Page 9: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Advanced Product Research Considerations

Market status:◍ After searching for

your keyword, are the products there all relevant?

◍ PPC ad spots are being used for similar products

Competition:◍ No legal issues

(Patent, trademark)◍ Product listings in

the top 10 have room for improvement

Product:◍ Are you able to

make product improvements?

◍ Can you bundle it?◍ Low seasonality

Sourcing:◍ Can you find

suitable suppliers easily on Alibaba?

◍ Profit margin over 30%?

Page 10: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Place your screenshot here

Product TrackingIt’s a good idea to track

sales of your top product ideas over the

space of a week or more. You can do this

manually, or automate with the Web App

Product Tracker

Page 11: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Let’s Investigate With Some Of Our Product Ideas

◍Narrow down our list of 40+ ideas to the top 3

◍Dive deep into these products & prepare to decide which one to launch!

Page 12: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Watch over our shoulderLet’s Investigate Our Top Product Ideas Together...

Page 13: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Follow Along: Your Tasks Until Next Week

1. Using the research tactics covered today, narrow down your list of product ideas to your top 3

2.Continue to track these ideas for the next week (use the Web App Product Tracker to automate if you have it)

3.Join us next week ready to decide which product to move forwards with

Download the template at: https://www.junglescout.com/session2-HW

Page 14: The Million Dollar Case Study: Europe – Session #2, Advanced Product Research

Join Us Next WeekJoin us next Wednesday where you will learn how to contact

factories, get the best pricing and get your product made!

Register for FREE at junglescout.com/million