We can say that there are two ways to find the right products that will provide you with the most revenue when you promote.
The first method is to choose different products and decide by trial and error. However, this method can take longer to find the right product and sometimes spend hundreds of dollars on products that don't produce the results you want.
The second method is the fastest and most successful method. Listing your products in a scoring system according to certain performance metrics and making decisions based on these scores. The second sounds more planned and useful, doesn't it?
The important point here is to prepare this list with the most accurate data. At the same time, preparing this list manually will cause a waste of time, so you should be able to access this list automatically whenever you want.
All you need is a list of products sorted by their sales potential!
Heybooster lists products with high sales potential in a scoring system based on their performance in certain metrics. Some of these metrics are product detail view, product add to cart, and purchase.
The image you see in the example is a product scoring list created with the help of other metrics.
Thanks to this scoring, it will be very easy for you to detect products with high sales potential. Increasing your income by promoting these products in your advertising campaigns is the key to a successful advertising campaign period.
Well then, let's explain the steps of detecting these products using heybooster from the beginning.
Get your high sales potential products list
- Of course, the first thing you need to do to access this report is to join the heybooster family!
- In the second step, click on the Integrations title on the left and connect data sources with heybooster.
- In the third step, click on Insight Categories and run the Product Performance Package.
- Click on Products with high sales potential insight on the page that opens and, that's it!
- Now, thanks to heybooster, you can meet your users with your best products. Moreover, you can instantly be informed when there is any change in the data.
All you need to do is to click on Set a Notification 😊
Understanding product potential
Products with high potential are those that align with the search intent and interests of users. Failure to meet these requirements often leads to low sales potential during the process of converting leads into customers. Therefore, certain metrics can be used to identify high potential products. These metrics are significant as they help in determining the potential of a product. Let's explore these metrics.
Product detail view
High product detail views indicate strong user engagement with your product, which can be a significant factor in the purchasing process. If your product can capture users' attention at first glance and entice them to seek more information, this can be an excellent indication of success.
Providing users with detailed information about your product can help them make informed decisions and move towards purchasing. Therefore, product detail views are an essential metric to assess whether your product has high sales potential and if your promotion strategies are effective.
If that wasn't enough, let's take a look at the details on product details view!
Add-to-cart rate is another important metric to evaluate a product's sales potential. This metric provides an insight into how interested users are in your product. It is unlikely that users would add a product to their cart if they were not genuinely interested in it.
While technical difficulties and other factors may interfere with the conversion process, a high add-to-cart rate indicates that the product aligns with users' search intent and is attractive enough to entice them to take action. Therefore, a high add-to-cart rate is an indication of a product's high sales potential.
Cart to detail rate is a metric that calculates the number of times a product is added to the cart divided by the number of product detail views. This metric can determine whether a product meets users' expectations and how many users it appeals to.
A low basket-to-detail rate indicates that the product fails to attract users' attention, resulting in low cart additions. As users only add products that genuinely interest them, failing to capture their attention at first glance may result in losing valuable customers.
Therefore, a product's success in converting potential customers to actual customers depends on its performance in these stages. The basket-to-detail rate is an effective way to measure a product's sales potential.
Product unique purchases
This metric is calculated by dividing the number of unique products purchased by the number of product visits. While it is useful to know how much a product is sold, it is even more beneficial to understand how many distinct users bought the product.
This data can generate several strategies for businesses, as some customers may purchase multiple items for their family members. A high uniqueness rate indicates that the product appeals to a broader audience, increasing its sales potential. Identifying products with high unique purchase rates can help businesses highlight them and get success.
To sum it up, the key to a strong ad campaign period is to show users your products with the highest sales potential. The best way to detect these products is to use accurate data. Thanks to this data, you can prioritize products that already have high potential by inserting them into a scoring system.
This scoring system saves you from having to analyze metrics for long hours and allows you to organize everything completely automatically.
Now all you have to do is register with heybooster and create strategies to boost your performance!