Pricing and product selection thinking for live streaming sales!

“Is it feasible to start by selling cheap products and then sell at a higher price?”

Many novices who have just started live streaming have a misunderstanding, thinking that they can easily get sales just by following the hot products on the Douyin hot product list, and use the 9.9 yuan free shipping as the main activity to launch the live broadcast.

In fact, this is not the case. If you choose to "follow the hot items", although there will be a relatively low risk of bringing goods, but when most people choose to follow the hot items, the competition will become more and more fierce. If the payment is slow, it means that the product can only be sold for a short period of time, and outdated data will not last long.

Generally speaking, the pricing of live broadcast products should follow the following three principles :

1. Choose products that match the anchor’s characteristics

2. Choose differentiation to meet different needs

3. The live broadcast room needs to have a reasonable configuration of goods to assist the anchor to achieve the lowest price. For example, high-priced products need to make full use of gifts and low-price incentives.

Live streaming products are usually divided into fan-pampering, profit orders, profit packages, and strategy orders, each with different tasks.

By matching the four layers of products together, the quotation structure of live broadcast products can achieve the optimal configuration of "flash sale traffic-generating products + popular potential blockbuster products + high unit price scarce limited edition products" .

▲The picture comes from the Internet

A reasonable pricing strategy can maximize the profits of products in the live broadcast room.

How should we determine the proportions of traffic-generating products, hot-selling products, and profit-making products?

What is the product selection configuration of the live broadcast room?

Traffic-generating products can gain traffic and trust → Best-selling products can solve user needs and receive traffic → Profitable products can gain profits → Featured products can increase user stickiness and repurchase rate

When should products of different categories be put on the shelves? How to promote products and how to broadcast them?

Drainage products

Traffic-generating products are usually placed at the opening and put on the shelves from time to time during the live broadcast . They can also be used as warm-up traffic-generating videos to maintain the popularity and heat of the live broadcast room. For example, 9.9 meters is free shipping.

Main product (hot item)

The main products will be put on the shelves when they are most popular , and the most time will be spent on explanation, including introducing the product’s value, price, R&D background, user reputation, etc., to attract user interest and keep them in the live broadcast room to promote conversion rate.

Regular sales (profitable items)

Popular products will be put on the shelves at fixed times and recommended in batches in a rhythmic manner throughout the live broadcast as the main profit-making products.

In addition to these three more conventional product categories, we can also set up special products (to increase fan stickiness) and clearance/cannon fodder products in the live broadcast room.

Featured

Special models are usually customized exclusively for live broadcasts or brands, and have a certain scarcity. They are designed to increase favorability and fan stickiness, thereby increasing profits for live broadcasts and merchants. For example, a combination set, or giving away some peripheral products, can be independent of the original price system, and the existing SKUs and pricing can be rearranged and combined. Even if the discount is slightly increased, since the product is independent of the regular product system and is only available during live broadcasts , users will not notice it very obviously.

Clearance/Cannon Fodder

Adjustments can be made to clearance items based on real-time data , and some "cannon fodder models" can also be added to the live broadcast room. These cannon fodder models are similar to the main models but more expensive, and are used to set off the profit models and the main models.

How do you know which one is a hot product?

Hot-selling products usually need to be tested. Live broadcast operators formulate launch strategies based on the real-time data, retention, interaction, conversion, and fans of the live broadcast room.

Summarize

Look here quickly! The teacher has highlighted the key points!

1. Product selection before live streaming needs to follow the "pricing pyramid principle", and the quotation structure of live streaming products should achieve the optimal configuration of "flash sale traffic-generating products + popular potential blockbuster products + high unit price scarce limited edition products" .

2. In the novice period , the ratio of the three types of traffic-generating products, profit products, and main promotion products in the live broadcast room should be 4:3:3 . If your live broadcast room enters a period of rising development, the proportion of the three should be 2:4:4 . The lack of categories may reduce the traffic conversion efficiency of the live broadcast room.

3. Different categories have different product promotion times and methods . If necessary, you can add special items and clearance items to promote conversion.