In addition to the overview of categories and markets, we also need to select several competing products as competitive targets to analyze the operating data of single products.
1. Proportion of seller types
First, we need to know the types of sellers on the platform. FBA sellers account for 83%, Amazon self-operated accounts for up to 12%, and the rest are FBM self-delivery sellers. It is obvious that Wet Bag can only be shipped by FBA, otherwise it will not even be qualified to compete.
2. Brand market share
Secondly, we collected brand information of TOP competing products, such as Alvababy and Damero for low-end products; Wegreeco for mid-range products; and Bumkins, the “industry big brother”, for high-end products. It can be seen from the data of the listing situation of each brand in the figure that there has not yet been a competitive situation of one dominant company or three-way division, and there is no obvious sign of monopoly.
3. Target group label
In addition to understanding the overall market data and trends, before a company starts making products, it must first figure out who its target customers are. This is the same as determining the classification before selecting products, and is the company’s most important strategic direction. Only by determining the attributes of customers can we provide customers with targeted solutions, determine product prices, and expand corresponding marketing channels. For example, white-collar workers and full-time mothers will make completely different decisions when shopping, even for the same listing. If the copywriting information is general and not personalized, it will fall into the trap of listing commercialization. This kind of manifestation of no brand value and customer value can easily make consumers feel uncomfortable. Once in such a situation, competitors will easily use experience and money to defeat you, and customer loss will be difficult to avoid.
In general, the customer’s IP label includes age, gender, occupation, education, marital status, address, hobbies, etc. How can we obtain this label information? We can summarize the customer’s preferences and understand their living conditions through the comments left by the competitor’s listing customers.
For example, the customer reviews of our Wet Bag competitor include “moms buy it to put diapers for their children”, “girls buy it to put yoga clothes”, and “customers buy it to put food in the car”. There will be strong crowd label attributes here – “moms”, “food experts”, and “sports experts”. They may also be active members of new media platforms. This information is also very helpful for later new media advertising operations.
4. Customer product needs
After the analysis of customer groups in the previous article, the target customers are determined, and then it is necessary to investigate the specific needs of the labeled people when using such products, that is, the pain points that customers need to solve.
For example, Wet Bag What problems can Bag help customers solve?
1) When doing outdoor sports, such as ice skating and yoga, the clothes for changing cannot be conveniently stored;
2) In humid seasons, children’s diapers are easily damaged and not durable;
3) When going out for fun, drinks and other food in the car can easily get on the seats.
Where there is a problem, there is a demand, and where there is a demand, there is a market. For the customer’s pain points, can the existing competitive products meet them? We can get real feedback from customers by checking the competitive product listings, and see the 2-star and 3-star negative reviews, what customers are dissatisfied with the product quality and service and what new requirements they have, so as to help sellers improve their products. Of course, you can also take a look at the 1-star reviews. Customers with 1-star negative reviews are often too emotional, and more often blame the product or service.
Among them, green is a positive signal and red is a negative signal. For the feedback on a single SKU, the customer’s emotions are clear at a glance. Through the evaluation data, we also drew another emotional change line.