Metrics Source/Data Benchmark
Search Volume Trends (%) Google Trends Increase of +25%
Social Media
Positive Mentions
Reviews (%)
& Ratings Hootsuite or other Social Media
Increase
Management
of +50%tools
(out ofMedia
Social 5) Engagement Amazon (Look at minimum 50 Average
reviews)
score of 4+
Rate (%) Sprout Social Between 1% - 3.5%
Conversion Rate (%) Monetate or other ecommerce Between
analytics
(greater 1%tools
- 3%
traffic,
Competitor Sales & Activity SimilarWeb engagement,
(comparable to etc.)
or lower
Price Point
Market Research Feedback Amazon than similar products)
(%) SurveyMonkey (Minimum 50Positive
responses)
response >50%
TOTAL 0
Here's how to use the scorecard:
1. Gather data: Follow the provided links to collect data for each metric. For example, use Google Trends to see the
Remember, it should show an increasing trend of at least +25%.
2. Fill in the 'Actual' column: Based on the data you've collected, fill in the 'Actual' column with your findings.
3. Score each metric: Compare the actual data with the benchmarks. If your data meets or exceeds the benchmark
short but is still reasonably close, give a score between 5 and 9. If your data falls significantly short, assign a score
4. Interpret your score: The higher the total score, the more likely it is that your product will be a hit in the market. If
consider whether you can improve these aspects or if you need to rethink your product or strategy.
5. Remember, this scorecard is a tool to guide your decision-making. It doesn't guarantee success or failure, but it c
your product.
Results:
50 - 70: Good - This suggests that your product is showing strong potential to perform well in the market. The majo
exceeding the benchmark. If you have lower scores in certain areas, it might be worth exploring different product ni
30 - 49: Moderate - Your product has some potential, but there are areas that need significant improvement. Review
identify if a different product niche might offer stronger trends and a better market fit.
Below 30: Poor - Your product may struggle to perform well in the market. Many metrics are falling significantly sho
good time to explore other product niches with stronger market trends to maximize your chances of success.
Remember, this scale is a tool to guide your decision-making process. Always take into account your specific busin
capabilities when interpreting these scores and making strategic decisions.
Actual Score (Out of 10)
ple, use Google Trends to see the search volume trend for your product.
olumn with your findings.
meets or exceeds the benchmark, give yourself a score of 10. If it falls
ignificantly short, assign a score of 1 to 4.
duct will be a hit in the market. If you score low in certain areas,
duct or strategy.
arantee success or failure, but it can help you assess the potential of
orm well in the market. The majority of your metrics are meeting or
orth exploring different product niches that could perform better.
d significant improvement. Review the metrics with lower scores to
it.
metrics are falling significantly short of the benchmarks. This may be a
your chances of success.
e into account your specific business environment, resources, and
