How to do competitive product analysis report as a workplace rookie!
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Recently, a netizen complained to Clippings that his company leader simply threw a few URLs at him and asked him to make a competitive product analysis report. He didn't say what the content should be or the specific time to submit the analysis report. What should he do? After teasing the netizen, Mr. Clipping wanted to tell him seriously, "I am helpful and will teach you. I was just joking with you." However, the page showed, "The user has unfollowed you and you can no longer send him messages." True love was deprived of him by a joke. Seeing the simulated chat records above, I believe that all of you have similar personal experiences. Serving the king is like serving a tiger. As a subordinate, if you can understand your superior's ideas well, you will be promoted dramatically in the workplace. Without further ado, let’s get to the point. As a rookie in the workplace, how can I write a good competitive product analysis report? How to make it understandable to yourself and others? 1. Clarify the goal of competitive product analysis In most cases, when a leader gives a competitive product analysis task, he only has one concept in his mind: "I want to know what their website is like." At this time, we need to figure out what content the leader wants most? Take the Internet home improvement industry that I am engaged in as an example: If the leader gives me e-commerce websites such as JD.com, Taobao, and Meituan , I would guess that he wants an analysis report on the user shopping experience; If the website he is given is a home improvement website such as Home Improvement e-Station, Tubatu, or Ai Space, I would guess that he might want an analysis report on the business model, profit model, product layout, service scope, tool products, etc. If the app I am given is an app like Haohaozhu or Haowu, I would guess that he needs me to understand their content operation methods and user retention analysis reports. In short, according to different competitive product analysis goals, we need to be targeted, otherwise the analysis report will be worthless. 2. Determine the object of competitive product analysis For senior industry professionals, the main competitors are very familiar to them. However, for some newcomers who have just entered the industry or non-mainstream competitors, it is more difficult to clearly define the objects of competitive analysis. For mainstream competitors, we only need to search keywords through Baidu or various app application markets , or go to vertical websites to find the corresponding competitors. For example, in the "Internet home improvement" industry, the main keywords involved are "decoration, home improvement, decoration design, renderings, water and electricity construction", etc. If it is extended to complementary industries, its keywords will change to "furniture, sofas, coffee tables, cabinets, floors, tiles", etc. Similar competitor keywords can also be extended in this way to other industries. Regarding the search website for mainstream competitors, I personally recommend: Application Radar (www.ann9.com). When you enter the corresponding keywords, you will be able to see a list of similar competing products. At the same time, some of the data it provides can also be used for search optimization for ASO . For upcoming competitors, we can get information in advance through the following platforms. 1) Product Hunt is a product discovery community. The biggest highlight of this website is that it relies on users to recommend novel and interesting new apps. It plays the role of database Orange and is the originator of this field. 2) Domestic followers mainly include Next under 36Kr , today under IT Orange, mindstore under iFanr, etc. What can we do with such a small and beautiful website? 1. For entrepreneurs : increase product exposure and attract investors ; 2. For product managers : understand the latest and brightest products and trends; 3. For investors: discover products suitable for investment more quickly. 3. Obtain relevant data on competing products 1. Website crawling data The scope of data is too broad. The most basic ones include UV (number of visitors), PV (page views), average length of stay per person, average page browsing depth per person, conversion rate , return on investment, number of fans increased, etc. More in-depth data, such as how many competitors are using the same functional module, and what kind of website data the corresponding functional module brings. Last year, Clippings and his colleagues conducted such a functional module analysis on 31 Internet home improvement websites. Finally, by comparing the data from the functional modules with other data, they could roughly determine the approximate needs of a company. Similar websites for obtaining data, the ones recommended by Clipping Monarch include: 1) PC data websites: Alexa data (alexa.com), similarweb data (similarweb.com), Baidu Index (index.baidu.com); 2) Industry report data websites: iResearch (iresearch.cn), Penguin Think Tank (re.qq.com), Analysys (analysys.cn); 3) APP data websites: talkingdata data (talkingdata.com), Umeng (umindex.com), ASO100 data (aso100.com). 2. Formula calculation In addition to crawling data from the website, you can also use formula calculations to reverse the data. 1) Use other people’s data and switch to the same ratio: For WeChat public accounts with better content management , the number of readers: number of fans of WeChat public accounts = 1:10, that is, the opening rate is 10%. For example, a competitor held a promotion on WeChat. On the day before the promotion, the normal number of readers of its WeChat official account was around 1,000. After the promotion, the number of readers of its articles on the next day was around 1,500. It can be roughly estimated that the net increase in the number of WeChat fans on the day of the promotion was 5,000 (excluding other human factors, this rough estimate can be made, but its accuracy is questionable). 2) Use data growth to infer the rules of activities: This method is most commonly used in Tmall /Taobao marketing activities, such as: Double Eleven venue horse racing, Juhuasuan, Taobao flash sales and other activity rules. Through the merchant backend, the transaction index changes of competitors’ products are statistically analyzed in different time periods to reversely infer the horse racing rules behind their high traffic. 3. Mix in with competitor communities This type of community mainly includes WeChat groups and QQ groups. In the Internet home improvement circle, the best way to find accurate customers is to infiltrate the QQ groups of owners of competitors or community developers. This can not only save customer acquisition costs, but also obtain the dynamics of competitors and related sensitive data during communication. Wait, there are many other ways to obtain data. When acquiring or calculating data, you need to be skeptical of such data. Because short-term data patterns do not represent the future dynamics of the entire industry, it is extremely important to observe over the long term and use large amounts of data to support existing views. 4. How to choose the analysis angle Different industries choose different analysis angles. Taking the Internet home improvement industry as an example, the analysis angles we generally choose are: proportion of customer groups, age groups, distribution of customer groups, UV (number of visitors), PV (page views), average length of stay per person, average page browsing depth per person, conversion rate, return on investment, offline conversion rate of online retained customers, user retention rate , customer acquisition cost in a single city, etc., but we do not consider repurchase rate (old visitors). Because for ordinary white-collar workers, they only buy one house in their lifetime, or even less, so if someone in the home improvement industry is concerned about the repurchase rate, it would appear very unprofessional. For example, we are currently analyzing the amount of paid placements in different time periods. The dimensions selected are: page views, sales, number of orders, conversion rate, etc., and the channels are counted as overall and wireless. The advantage of this kind of analysis is that it can be targeted and all costs can be invested in the time period with conversion rate, avoiding the embarrassing situation where there is traffic and customers but no customer service to respond. In addition, the main methods of data analysis are: 1) Structural analysis method: for example, the sales of a certain item account for the sales of all items; 2) Average analysis method: for example, the AR PU (average revenue per user) of paying users in each region; 3) Cross-analysis: for example, the relationship between game level and churn rate; 4) Comprehensive evaluation analysis method: for example, constructing comprehensive indicators to measure user loyalty (monthly login times, online time, payment amount, etc.); 5) Funnel chart analysis method: for example, the conversion rate of the initialization page, line selection + role creation, level 1, level 5, level 6 and other key paths; 6) 5W2H analysis method: This is the analysis method that I strongly recommend, and it can be called the "routine" for doing any work. 1. What to do? 2. How? 3. Why? 4. When (when)? 5. Where? 6. Who? 7. How much? . Secondly, there are SWOT analysis, two-dimensional quadrant method, Porter's five forces analysis model, etc. The following analysis methods are all theories. If they cannot be truly and effectively applied to work, they will be useless. 5. Create a competitive product analysis report As a convincing competitive product analysis report, it is necessary to rely on data. You cannot rely solely on your own subjective consciousness to prove your point. Any analysis report without data support is rogue. There are many formats for analysis reports, generally Word, PPT, and PDF. Secondly, you should also pay close attention to the layout of the content, especially the use of both text and pictures, which can add points to yourself to a certain extent and make it easier for superiors or investors to better understand the content of the analysis report you submit. Just like the article "Some very practical workplace software" pushed by Clippings in previous issues, which even experienced professionals don't know about, the key points of PPT production are mentioned in it: symmetry, centering, and visualization. Finally, the most important point is to express your own point of view. Some new employees in the workplace often fail to complete a task or have a beginning but no end. This kind of situation must not occur when perfecting an implementation plan or a competitive product analysis report, otherwise all your efforts will be reduced to zero. The above is what I typed for you today. Please feel free to collect and share the key points and URLs mentioned in the article. Friends who have benefited from reading this article, please remember to give a reward below. If you have any objections to the views mentioned in this article, you can leave a message directly in the comment section below.
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