2021 e-commerce product selection skills and cases!

In the field of performance advertising, I have come across many industries and many products, and the differences are obvious.

Some can become hot-selling products, with rapid growth and good results, and even sell out, so that we have to stop investing;

Some have very small volumes, but they are stable and can be put into use for a long time, and many have a cycle of more than 2 years.

Some come and go in a hurry, and if the test is not ideal, they will ask for a refund before sending out the short essay on the cause analysis;

Some are annoying little demons, and their moods are like a roller coaster. They test and adjust repeatedly. The optimizer has to rely on quick-acting heart-saving pills to survive between everyone being happy and hanging himself from a tree in the southeast to sacrifice to the heavens...

Why are there such big differences between different products in different industries on the same platform? What is the reason behind it?

Based on three years of industry customer analysis, the core is the matching degree between users and products . From the perspective of optimization personnel and user level, it is difficult to shake it on one's own. Therefore, product selection is very important.

Because it is so important, many people target the top streamers on the platform and follow Viya and Li Jiaqi to select products, thinking that this is a safe approach.

But think about it carefully, it may not be appropriate

Do you have comparable traffic to their fan base?

Is your marketing approach exactly the same as theirs?

Do you have the ability to negotiate prices with suppliers?

. . . . . .

If they are different, how can we choose the right category?

1. How to choose is the key

Based on my personal experience, I have compiled a set of product selection templates for my own use.

The key is to confirm the dimensions of product analysis, understand the product information in detail, and determine the product category.

As shown in the table below, my personal basic considerations are listed. Some of the factors overlap, so they are combined or summarized into one category. If the focus is different, you can break them down and list them separately as needed for easy use.

§Target audience matching: The degree of overlap between the product’s target audience and the demographic attributes of the delivery platform, mainly considering the number of people being reached and the accuracy of the match. (Details will be given later)

§Healthiness: Mainly consider whether the qualifications are complete and meet the audit standards; whether it is beneficial to the industry structure?

§Freshness: Is this a completely new category for the platform? Or has it been launched historically? How is the delivery performance?

§Timing (cycle):

Is it applicable in the current season or is it an off-season promotion? For example, heaters, coolers, mosquito repellents;

Special holiday promotion nodes, such as Spring Festival and Women's Day;

Shelf life, mainly for fresh food;

Product cycle: vigorously promote new products, release them on a daily basis, and upgrade and clear inventory;

§Geographical restrictions:

Is there any geographical restriction? For example, leather coats and down jackets are mainly used in northern winter;

Which places are not delivered?

Those with overlapping origins should be avoided when placing them. etc.

§Profit margin:

Price cost, promotional activities, inventory size, affordable cost range, testing budget range, etc. Generally speaking, the larger the profit margin, the higher the affordable cost, the larger the budget range available for testing, and the more room for operation for optimizers.

§Delivery form: The delivery form will affect the length of the conversion link and the convenience of operation.

The bounce rate estimates for different forms such as online payment, cash on delivery, third-party shopping malls, adding followers on WeChat, leaving a click for return visits, etc. are different, which will affect the effect estimation judgment.

§Policy/Support: Is there any bias in industry policy? What are the conveniences of technical support? For example, some categories such as games have separate system population packages to choose from.

§ External risks: generally refers to sudden external related events, which can be analyzed using the PEST model (detailed explanation later)

Among them, the most critical thing is to determine the matching degree between the target audience and the platform population.

Generally, the media has brochures that detail the features and properties of the platform.

Take Fengyu as an example:

Among them , region, gender, and age (marked in red) are the main reference attributes . It can directly correspond to the target audience of the product. The other dimensions are auxiliary reference points. But it is not absolute. like

When K12 education seeks to find parents who make decisions, marital status becomes a major reference.

When taking self-study exams to enter higher education, academic qualifications will be the main reference.

Mobile phone accessories may have requirements for mobile phone brands.

The equity distribution of financial literacy courses, etc. may focus on the occupations and positions of the target group.

We still need to analyze specific products. Sometimes, associations can also be used to identify users. For example, occupation, education level, and mobile phone model can help assess users' potential purchasing power.

The distribution of population categories presented on different platforms is as follows. There are differences between the PC and APP sides, but the mainstream groups are the same.

As shown in the figure below, four regions can be separated by building coordinates using the population base of different attributes and the accuracy of product target audience matching. They are: the first ideal area, the suboptimal area, the optimized area, and the low-value area.

The first ideal area: an area with a large population stratification base, high matching accuracy, large volume, good effect, and easy to produce hot products.

Suboptimal area: Although the population base is small, the targeted matching accuracy is high, small but beautiful.

Optimized area: The population base is large, but the matching accuracy is low, which is a great test of the ability of the optimizer. It is also an area that is particularly prone to fluctuations and ups and downs, and the polarization is more obvious.

Low-value area: The population base is small, the matching accuracy is low, the volume is small and the conversion rate is poor. It is necessary to make reasonable judgments and not put too much effort.

Among them, except for some small kitchen items, pickled foods and books, most of them are industries that the platform has already invested in. With similar products for reference, selection is easier.

Here we mainly list the products with good conversion in three new categories: toilet cleaning powder, sausages and history books.

2. Choosing the right product is important, and matching the product is also important

After selecting the products, you need to match them when launching them. Here are some useful principles for practice:

1. There are no special restrictions. It is recommended to select one combination of different categories and launch them online at the same time; for example, foot bath basin + small yellow croaker + fleece jacket + wool sweater + history book + panoramic view of the Forbidden City.

Summarize

The product selection method in this article is theoretically applicable whether it is product selection on e-commerce platforms, second-tier e-commerce platforms , or live streaming products. Because no matter what form of product selection is needed, there will be a publishing platform or private community or fan group. The core is to match consumers and products, and the basic logic is the same. But there are certainly differences between the different forms.

For example, when it comes to live streaming, in addition to considering the live streaming platform and the structure of fans, a large proportion also depends on the style of the anchor and the atmosphere of the live streaming room, and the focus may be different.

The above is a phased summary of my work and is for reference only. Ideas may change or even be overturned during practice. I hope to communicate and share learning with you~ Thank you

Author: Ren Xiaonv

Source: Ren Xiaonv