Viral Launch introduces new Amazon database for finding untapped market opportunities
Millions of products are sold on Amazon.com every day. For the best, most successful retailers who sell on Amazon, the question isn’t what could they sell, but what should they sell that fills a gap in the marketplace and beats competitors to profitable opportunities for sales and revenue growth.
Just three weeks ago, Viral Launch, a fast-growing software and services provider, launched a powerful new software tool called Product Discovery. This new web app is helping retailers who sell products on Amazon find gaps in the marketplace and pinpoint which products will bring them the greatest returns. With Product Discovery, subscribers have access to the most comprehensive and accurate collection of Amazon data currently available, containing tens of millions of products and the associated data points. Users can easily filter the database to find individual products, keyword markets, brands, and categories with high-demand and low competition.
Casey GaussCo-founder& CEO
The Product Discovery application allows Amazon retailers to filter for a personalized list of high-potential products that match their business goals.
- Better Products – find the opportunities that have eluded you. Input specific criteria and see a list of products, keywords, brands, and categories that meet your standards.
- Better Opportunities – all the information you need to make an informed sourcing decision, all in one place. Apply your filters, explore the results, identify profitable products, and research potential markets with Market Intelligence.
- Better Data – better estimates and better suggestions lead to better products. Browse thousands of successful products, markets, brands, and categories equipped with the most accurate Amazon data available.
- Better Research – leave the spreadsheets behind. Product Discovery has all the information you need to make an informed sourcing decision, all in one place. Use the Tracker to quickly reevaluate your favorite products, keywords, brands, and categories.
Viral Launch is responsible for growing some of the largest brands on Amazon, and the company’s clients account for over $2 billion in Amazon sales. CEO Gauss made headlines in late summer this year when he announced expansion plans including creating up to 250 new jobs.
Indianapolis-based Viral Launch has announced $2.2 million expansion plans. The marketing technology company, which currently employs more than 20, says it could add up to 250 jobs by 2021. Viral Launch plans to move fast and hire 30 workers by the end of this year and double its current office space in downtown Indy by early 2018. During a March interview with Inside INdiana Business Television, Chief Executive Officer Casey Gauss discussed his path to co-founding the company, which includes dropping out of college.
The company says rapid growth is driving the decision. It reports a 250 percent increase in revenue from 2015 to 2016 and revenue that has nearly doubled since the beginning of the year. The new jobs, Viral Launch says, are expected on average to pay nearly 35 percent higher than the average wage in the state for currently-open positions including software developer, account manager, data scientist, content writer and executive assistant.
The Viral Launch software tools include:
- Market Intelligence – a market research web app and Chrome extension that provides Amazon market data, trends, and analysis to expedite market research and infuse it with data
- Listing Dojo – a split testing tool that allows third party sellers to A/B test the price and content of their product listings on Amazon; and
- Product Launches – a digital interface that allows sellers to run new product promotions on a deal-hungry buyer site, exponentially increasing visibility and ultimately boosting their initial sales on Amazon.
Inside the Viral Launch dashboard, users can open Product Discovery and begin hunting for products that meet their business goals. There are four ways to search: by product, by keyword, by brand, or by category. Users set filters such as initial investment, price range, monthly sales range, number of reviews, monthly revenue range, and desired category to get a list of results that meet their criteria.
If a user searches by keyword, they will see a list of search terms associated with the markets that meet their filter criteria. Annual subscribers have the added benefit of being able to sort the results by idea score. The idea score is based on a custom Viral Launch algorithm that rates a market’s opportunity on a scale of 1-5 stars. Sorting the results by idea score allows users to see their markets of iterest that Viral Launch has deemed of highest potential first.
Searching by brand is a bit different. In order to find products using brand search, users filter the database for brands that are experiencing extreme sales growth, relative success in comparison to their competitors, or high review rates. Uncovering brands with these metrics can help sellers better understand what products and tactics are helping these brands drive success so that they can reverse engineer the tactics that are already working. It can also be a great way to find top competitors and unchallenged markets.
Finally, users can search by category to find areas of the Amazon catalogue that are ripe with opportunity. The applications for category search are endless: from checking up on the health of your own product category to discovering opportunity rich markets. Users can filter or browse the Amazon catalogue to find niches they may not have noticed before.
For every brand and category in the database, Product Discovery includes a full data report with sales trends, price trends, best sales period, sales distribution, breakdown of fulfillment type, top performing products, top performing categories, and so much more. This information provides the kind of insight many Amazon retailers could only dream of before. And with Amazon now accounting for more than 40 percent of e-commerce sales, this data has never been more valuable.
Product Discovery is a game-changing software release for Viral Launch and for Amazon retailers, creating a seamless market research experience. With unparalleled access to the most comprehensive and accurate set of Amazon data available, sellers can gain key insights into the Amazon marketplace to increase their success and help them make smarter decisions about which products to offer.
About the Author
Becca Longenecker is the creative manager at Viral Launch, working with both the creative services and the marketing department to help establish Viral Launch as the software and service leader in the e-commerce space. Her eye for detail and her obsession with how communication can influence perception allow her to expertly pull the Viral Launch story together into a cohesive and compelling narrative.