Cross-border e-commerce product selection strategy: based on crowd demand analysis and buyer portrait construction
Crowd demand analysis, as a key link in changes in market supply and demand, has important guiding significance for corporate marketing decisions. This article aims to explore how to better select cross-border e-commerce products by combining the concepts and operational processes of crowd demand analysis and the understanding of consumer needs in e-commerce product selection.
Overview of crowd demand analysis
Concept and function
Crowd demand analysis is the analysis of various factors, dynamics and trends of changes in market supply and demand. This process usually includes collecting relevant information and data, and using appropriate investigation methods to study market changes. Through analysis, it can help enterprises better understand market demand, formulate reasonable business strategies, reduce decision-making errors, and reduce business risks.
Operation process
The operation process of crowd demand analysis can be roughly divided into three steps: market segmentation, determining the target market, and market positioning.
Market segmentation
The concept of market segmentation was first proposed by American marketing scientist Wendell Smith. It refers to dividing the entire market into several sub-markets according to the different needs of consumers.
Determine target market
After completing market segmentation, companies need to select the most attractive submarkets as target markets.
Market positioning
Market positioning refers to creating a unique market image for a company’s products through product differentiation and other methods to differentiate it from competitors.
Consumer demand analysis in e-commerce product selection
Analysis of online shoppers’ preferences
When e-commerce companies select products, the first thing they need to consider is consumer preferences. According to consumers’ shopping psychology, online shoppers can be roughly divided into four categories:
- Realistic psychology: This type of consumers pay more attention to the cost-effectiveness of products, and they pursue high-quality and low-price products.
- Herd mentality: This type of consumer is easily influenced by the surrounding environment. If they find that many people are buying a certain product, they will also follow suit.
- Doubtful mentality: These consumers are wary of online shopping, so e-commerce companies need to provide sufficient safeguards to allay their concerns.
- Convenient and fast: Modern people live a fast-paced life and are more inclined to choose shopping methods that save time and energy.
Create buyer personas
Buyer portrait is a virtual representative formed through the analysis of basic consumer information and behavioral data. In order to build accurate buyer profiles, e-commerce companies need to:
- Clear direction or classification: Determine the purpose and objects of the portrait.
- Collect buyer data: Obtain true and reliable consumer information.
- Research buyer tags and comprehensive modeling: Use big data technology to conduct multi-dimensional analysis of buyers.
- Focus on privacy protection: Ensure that personal information is used in a legal and compliant manner.
Use Maslow’s Hierarchy of Needs Theory to discover buyers’ real needs
Maslow’s five-level demand theory provides e-commerce companies with a new perspective on exploring buyer needs. In order from low to high they are physiological needs, safety needs, social needs, esteem needs and self-actualization needs. Each level of demand reflects consumers’ different psychological states and social expectations. E-commerce companies can better satisfy customers and improve product competitiveness by understanding these needs.
To sum up, whether you are conducting market segmentation, determining target markets, or creating accurate buyer profiles, you need to deeply understand the specific needs of consumers. Only in this way can e-commerce companies stand out in the fierce market competition and achieve sustainable development.