How to combine new product marketing strategies with big data?

The strength of a country's economic soft power can be measured by its per capita GDP; the success of a person can be measured by his social influence or money; the success of a product can be measured by sales or user experience ;

However, for an enterprise, whether it can remain invincible for a long time can be measured by the social recognition of its new product marketing . But how to market new products? How to make new products break the ice smoothly? This article describes how to use big data to help new products find high-quality users during the cold start process.

New products determine the fate of a brand

Brand new products generally refer to products that are newly launched by the brand, such as Xiaomi AI speakers, Apple IP Honex, etc. According to Moore's Law, the number of transistors inherited by electronic products on the same computer chip will double every 18 months, the performance of the product will also double, and naturally its price will also be halved.

Moore's Law is an empiricism and a trend theory. Not all products will develop according to this rule, but for most, it may be the case.

This survival of the fittest environment tests every brand, requiring them to constantly innovate and develop new products that meet market positioning.

James Burley, a famous foreign scholar, once proposed that there are 3,000 initial ideas for new products, but in the end, only one idea can succeed, the success rate is only 0.33%, and the product development rate is only 1.8%.

Apple releases new products every September, and the feedback from the new products in the market directly affects its stock price and Wall Street 's rating of it.

This is the case for big brands, and it is even more difficult for small brands to create new products. However, no matter how big or small the brand is, it will face several problems after its new product is launched:

• Cold start seed users
• Core value model of the product
• Research on marketing and operation models

In the early stage of new product launch, it is necessary to target high-quality people to cultivate product tone, or attract more consumers to buy through purchases or use by high-potential users, thus forming a Matthew effect .

Generally speaking, you can identify high-quality groups for new products and say the right words to the right people by going through three stages: the start-up stage, the climax stage, and the stable stage.

How to target the audience during the launch phase of a new product

First of all, I should congratulate you. After going through numerous difficulties and dangers, the product was finally born and successfully passed the first hurdle. There is a famous saying on the Internet that having a child depends on product managers , which is a process from 0 to 1, while raising a child depends on operations, which is a process from 1 to positive infinity.

The startup period is the stage of product qualitative analysis. Whether the product can make a name for itself in the market, whether it can bring about good response, and whether it can occupy the minds of users depends on the operations during this period.

Its operating methods, marketing or dialogue with users generally revolve around one word - "precision".

I have a story, do you have wine? Switching to new product marketing, you can say, I have a new product, do you have money?

Scarcity makes things valuable. For new products, many users hope to get them and review them as soon as possible. For example, Apple’s new mobile phone, Sony’s new game console , etc. This sense of scarcity has a flavor of hunger marketing, but it can often produce miraculous effects, such as Xiaomi’s previous new product marketing strategy.

In consumer psychology, this mentality is called the "scarcity effect"

Fortunately, the improvement of e-commerce platforms and the rich user information have brought all kinds of good news to brands, making many difficult things simple.

From these user data, we can identify the group of people who are most eager to purchase new products. These people are the seed users of the new product. But it should be clear that the strategies for different categories of goods will be different.

Taking mobile hard drives as an example, which groups of people do I need?

Any object can be described by various attributes. A mobile hard disk has many properties , such as capacity, rotation speed, hard disk type, etc. Based on the attributes, a group of potential people can be found.

People who have collected or purchased a 500GB hard drive within 7 days, but have not purchased it . Why seven days? 7 days represents the user’s most recent purchasing needs and is more accurate.

Within 7 days, the 500g hard drive details page was viewed >5 times, but not purchased . Multiple views indicate strong intention, but lack of motivation, and need a kick.

Here, the product attribute we use is 500g to capture people who are interested in this attribute. Only one attribute is listed here, which can be expanded to other attributes.

The number of people defined by the two indicators may not be large, but accuracy is important. After acquiring these high-quality people, operations need to use various interest points or event marketing to spur user purchase conversions . Sales volume is one of the goals, but the more important goal is to cultivate the minds and brand awareness of these users, leaving behind valuable word of mouth and paving the way for subsequent marketing.

To sum up, you can simply go through the following steps

• Creating a sense of scarcity, scarcity effect
• Understand the product itself and its core value
• Target precise groups based on product attributes
• Various marketing methods strengthen user awareness and purchase conversion
• The most critical step is to build word of mouth and lay a good foundation

How to identify the crowd during the climax period

If ordinary commodities occupy space on the shelves, then excellent commodities can be said to occupy the hearts and minds of consumers. The essence of marketing is roughly the same: reaching users and influencing their minds through various means. When consumers have purchasing needs, this product will be the first thing they think of.

After a period of sedimentation in the startup phase, we can already get relevant feedback on the product from high-quality people. This feedback will play an extremely important guiding role for other users.

At this time, the concept of the product should be promoted and pushed to as many people as possible in multiple dimensions. Continuous exposure can increase product awareness and at the same time increase sales.

Yili’s internet celebrity product “byebyejun” used big data to outline the portrait of the crowd, creating a cross-border marketing case .

It was tied to the Double 11 Carnival and combined with big data to effectively communicate with consumers, with sales reaching 30,000 units in one day.

Quanmianshidai uses WeChat Moments and the big data potential of WeChat to export its brand capabilities to more potential users, and through the Jingteng plan, it directly closes the loop to JD.com shopping.

Quanmianshidai has found several types of users:

• The following groups of the official WeChat account of Pure Cotton Times
• For home, maternal and child products
• JD.com Pure Cotton Era purchasing users
• People who have added items to their cart or favorites
• Through these population portraits, more potential seed users were found, and their exposure reached 24.726 million times.

Generally speaking, the scope of the population can be expanded infinitely, but it is necessary to consider whether the distribution channel can carry this scale. Therefore, all potential users may promote consumption.

Taking mobile hard disk as an example, the following groups are screened out

• People who have been interested in mobile hard drives, and have added to cart, collected, searched, or placed orders but have not purchased them within a certain period of time
• Mobile hard disk related categories, in a certain period of time, there is a purchase behavior for the crowd

Before, the entire marketing chain was broken. The awareness of brands or products occurred outside of e-commerce, while purchasing behavior took place within e-commerce.

If these groups of people can have a mapping relationship between social networks and e-commerce, then the entire link will be complete, such as WeChat and JD.com, Taobao and Weibo.

What to do during the stabilization period?

The entire marketing process is not only about guiding consumers to engage in consumption behavior, but more about leveraging industry leverage, using new products to create market effects, and obtaining more other resources.

By communicating the product concept during the climax period, consumers may have a place for the new product in their minds. When the new product transitions to the stable period, the sales of the product gradually stabilize, and the new product is no longer a new product, but a regular product.

The purchase rate of potential users is generally 1% to 2%, which means that out of 100 people, only 2 may make a purchase. Of the remaining 98 people, 50% are completely uninterested in the product.

49 people were interested in the new product, but did not purchase it. How is his mind? Will you become a user of the new product?

Let’s filter it with big data.

During the peak period, users who added products to cart, collected products, searched products but did not purchase them, and who continued to add products to cart, collect products, or search products with the same attributes within 30 days browsed new products during the peak period for more than 3 times, but did not purchase them

These two groups of people have purchasing needs, but they do not buy. What is the reason?

You can randomly select a group of people, for example, 100 people, and do an experiment using big data:

• Check the purchasing power of 100 people
• View promotion sensitivity of 100 people
• View the purchasing preferences of 100 people
• View 100 people's occupations/regions

From the above elements, we can see the specific reasons why these people gave up buying.

1. It may be because of the price. He is not satisfied with the price, the promotion is not attractive, and he does not have much money, but he really wants to buy it. What should he do? If I give him a discount, will it have a good effect? certainly! You can use discounts, free gifts, or coupons to enjoy the experience.
2. It may be that consumers are not interested in this category. For this group of people, price is not enough to attract them, so try to show them the good aspects of your product and cultivate their minds. When they have needs, they will naturally find you.

Final words

Let’s summarize what we said above.

The launch of a new product is divided into three stages: the start-up phase, the climax phase and the stabilization phase.

1. During the launch phase, create a sense of scarcity , find high-quality people, and form a product tone for future consumers to refer to;
2. During the climax period, spread awareness and reach as many people as possible, so that consumers can move from awareness to understanding and finally reach a purchase transaction behavior;
3. The focus of the stable period is to review and analyze the purchasing psychology of consumers who have not purchased, and to appropriately win them back through corresponding means.

During the traffic dividend period, e-commerce companies have used all kinds of marketing methods, such as full-price reductions, full-price gifts, discounts, steps, group buying, flash sales, etc. However, traffic will inevitably reach a ceiling, and it has been reached now.

During the membership bonus period, membership marketing based on big data and other means, and precise marketing based on consumers’ data and user portraits on the platform, can cultivate members, obtain rights and interests, and cultivate loyal consumers based on various conditions. However, price discrimination can only satisfy some consumers. How can the top users be maintained? Small profits can't satisfy everyone~

In the future, e-commerce is promising and marketing will not stop, it is worth exploring~

This article was compiled and published by @十月菌 (Qinggua Media) when it is reprinted. Please indicate the author information and source!

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