Introduction
In today's competitive e-commerce environment, understanding your competitors is the key to winning. Through in-depth analysis of competitive products, we POD clothing sellers can not only gain insight into the dynamic changes of the market to clarify the needs of buyers, but also find the advantages and disadvantages of their own products, so as to develop more effective market strategies. So, in this stock market, how should we do competitive product analysis? What is the main content of competitive product analysis? This article will discuss the core content of competitive product analysis from multiple dimensions, help you fully grasp the competitive product intelligence, and provide strong support for your business development.
The importance of competitive analysis: Why do in-depth research?
Before entering into the specific analysis steps, it is important to understand the importance of competitive product analysis. It not only helps businesses identify potential threats, but also reveals new market opportunities. Through careful observation of competitors, you can better position your own products, optimize marketing strategies, and ultimately achieve market share growth. Next, EZEJ Technology takes the world's largest e-commerce platform Amazon as an example to deeply analyze for you, what should be done in competitive product analysis?
Core dimensions of competitive product analysis
1. Details page: comprehensive review of product information
- Price: Compare the price setting of different competitors and understand the market pricing trend.
- Bundled goods: Check whether competitive products use bundled sales strategy and its effect.
- Recommended traffic bit: Analyze the display position and acquisition method of competitive products on the e-commerce platform.
- Five-point description: Study the main selling points of competing products and their expression.
- QA part: focuses on consumer questions and official answers to competing products.
- Title: Learn how competitors use keywords to optimize their titles to attract customers.
- Pictures and videos: evaluates the quality of visual material and its message.
- Buyer Show: Collects and analyzes the real user experience uploaded by users.
- Number of variants: Examine the range of styles or versions offered by competitors.
- Inventory status: Monitor the inventory level of competitive products and predict their sales status.
Through a comprehensive analysis of the pages of competing products, we can deduce the other party's price strategy and related tools for hidden price reduction, such as coupon, code, prime deal, full reduction, sale price, price discount, etc., which kind or combination of coupon is used by the other party, and in what period. In this way, we can better judge the other party's pricing strategy and the way to create products.
In addition to the price, the recommended traffic level, five-point description, and title of the competing products all reflect the source of their traffic, especially the source of keywords, while the pictures and videos, the QA part, and the buyer's show reflect the content of the other party's keyword + transformation, real feedback and negative evaluation, but also reflect the content of the buyer's demand, which is very important. It needs specific analysis, is the use of old products drainage, to create new products, or related promotion, to increase the sales amount, or to borrow hot goods clearance, in the removal of unsalable inventory at the same time, the fire is more prosperous, these can be seen from the bundled goods.
In addition to these, the number and inventory of variants often reflect many strategies of competitors, such as the increase in the number of reviews caused by merging links, the difference between best-selling variants and slow selling variants, what factors lead to this situation? This allows us to have a deeper understanding of such products, and also reflects the purchasing habits and preferences of consumers.
As for the change of inventory, it reflects its sales volume. Because in many cases, competitors set purchase restrictions, so that we cannot see the approximate sales volume, we need to deduce its sales volume through the data of sales volume change, and analyze the above contents one by one to understand the whole market, competitive products, and competitors' strategies. You can get more detailed information to make a judgment accordingly.
2. Comment analysis: Listen to the voice of users
- Review trends: Tracks changes in positive and negative review rates over time.
- Composition of comments: The proportion of positive, negative, and neutral feedback.
- Time distribution: Collates the review data according to the time of publication, looking for patterns.
- Review source: Identify which channels contribute the most reviews.
In Amazon, there are many sources of reviews, which also creates different types of reviews. In general, reviews on Amazon can be divided into: VP reviews Reviews with the Verified Purchase mark, direct reviews without the Verified Purchase mark, and Vine reviews with the Amazon Vine Customer Review of Free Product) reviews, reviews without text rating and Top reviews from other countries have different effects and influences. Meanwhile, direct reviews are unused direct reviews. It is often canceled by Amazon, and whether the number of comments is helpful is also an important factor in the weight of comments, and even Amazon's star rating will be affected by whether the comments are helpful, rather than the simple average value of the evaluation star rating, from here it can be seen that Amazon platform attaches much importance to the content of reviews.
In fact, not only the Amazon platform attaches importance to reviews, consumers are also so, compared to the description of the product and the picture of the page, they are often more willing to believe the content of the review, especially some negative content, if these content is cutting to the other party's key, then the customer will not place a large probability, of course, if all products have this “ Disadvantages ” In a comprehensive judgment, or your product is better, the other party will place an order, unless she is really unable to tolerate this shortcoming and thus cancels the shopping demand.
When we analyze reviews of competitive products, the most important thing is to analyze the evaluation sources of the other party, especially how the evaluation sources are made in the early stage, as well as the corresponding strategies and other content. In addition, it is to collect user needs and pain points in the reviews of the other party, so as to improve our products and build more advantageous products. This requires a certain ability and strength, in order to enhance the competitiveness of our products, in the next competition, to gain advantages.
3. Traffic analysis: Explore the secret behind the traffic
- Comparison of internal and external traffic: evaluates the traffic brought by external links and the effect of internal promotion.
- Keyword Contribution: Identifies the search terms that drive the most traffic.
- Natural traffic vs. advertising traffic: Analyzes the proportional relationship between the two types of traffic.
- Ranking performance: Monitor the position change of competing products under the target keywords.
Like the review analysis of competitive products, the traffic analysis of competitive products is also a process of learning. By analyzing the traffic sources of competitive products, the growth of natural traffic, and the ranking performance, we can often see the promotion strategies of the other party, and these promotion strategies determine the accumulation of sales and reviews in the early stage. It is necessary to know whether a product can become a blockbuster. In addition to the early market research and profit comparison, the most important thing is the early sales accumulation, only after sufficient accumulation of products, will have a higher weight, get more exposure opportunities, and thus have the potential to become explosive products, of course, the analysis of competitive product traffic is not only useful for explosive products, for profit models, and even any product we want to do. Because this is the source of the experience of the other party, we can analyze the skills of the other party's operation through the corresponding analysis, whether it is their own, or not, want to use, or do not want to use, it is a kind of accumulation of us, because maybe when, you may use it.
At the same time, from the source and accumulation of these traffic, we can also see some policies of Amazon platform or other platforms, such as whether a policy is strict enough? Or can a policy be circumvented? Thus, we can gain a deeper understanding of Amazon's policies and explore the underlying logic of the other party. However, it is necessary to remember that the emergence of many policies is caused by changes in the market and is time-sensitive. We need to pay attention to the changes constantly, so that we can analyze the strategic purpose of Amazon and reverse deduce the current situation, for example, why should the commission of clothing be reduced? Why the emergence of low price mall? Before that, what was the commission situation of the clothing category? And now what? Do not blindly be stimulated by some good consumption, we should learn to see the machine from the crisis, the machine sees the crisis, and analyze the deeper content of the policy.
4. Category correlation study
- Suspected products/stores: Investigate whether there is a phenomenon of brand clustering, that is, multiple brands or stores under the same company.
Competitive products if there are a number of similar products or stores, often allow us to comprehensively judge the strength of the opponent, I believe that many see EZEJ technology blog POD clothing sellers are clear, analysis of competitive products in addition to learning a lot of techniques and skills of the other side, more important is to choose a competitor, instead, then, when we choose the opponent, The other's “ Comprehensive ” Strength is very important, just like the novice swordsman, although the desire to challenge the first martial arts kendo master, but the first challenge after the mountain, it must not be the other side, but choose their own familiar, confident opponents to challenge, so as to avoid because the opponent is strong, and the orca sinking sand, bad start.
In the same way, we choose a competitor, we must want to win, replace the other party's pit position, get the other party's sales, then understand the strength of the other party is crucial, if we are still weak, find a seemingly general strength, can win, in fact, it is just a new link or sub-link done by a strong company, once the competitor faces up in the competition, Then there will inevitably be repeated or the wrong opponent feeling, resulting in our failure, once failed, did not get the due effect, the early cost calculation and investment, there will be problems, although not necessarily hurt, but eventually will affect our follow-up development of new products, so that we are in a disadvantageous situation.
How to effectively implement competitive product analysis
In order to ensure the effectiveness and accuracy of the analysis of competitive products, the following methods are recommended:
- Update data sources regularly to keep the information fresh.
- Automate the collection of relevant information with professional tools.
- A combination of qualitative and quantitative analysis methods.
- If possible, you can also exchange views with industry experts to obtain more perspectives.
Conclusion
In summary, through systematic analysis of competitive products, POD clothing sellers can gain valuable market insight and adjust their strategic direction accordingly. At the same time, it has corresponding effects on the development of new products, the creation of explosive products, and the learning of rivals' experience. Therefore, whether it is to explore new business opportunities or make up for the shortcomings of their own products, Or learn more skills, or even want to know more about the underlying logic of the platform, serious and comprehensive analysis of competitive products, are essential, and have to continue to do, only continue to pay attention to the development of competitors, while continuous self-innovation and learning, we can in this increasingly competitive market, upstream, better and better. Finally, I hope this article has been helpful to you.
FAQ
1.Q: How often does the competitive product analysis need to be done?
- A: Depending on the characteristics of the industry, it is generally recommended to carry out at least once a quarter, and it is best to carry out once a month for FMCG or our POD clothing industry.
2.Q: What should be noted during the analysis?
- A: Maintain an objective and fair attitude, each item should be supported by enough and real data, and reasonable content can be derived from the data to avoid wrong conclusions caused by subjective assumptions.
3.Q: Are there any recommended tools to assist with this task?
- A: SEMrush, SimilarWeb, Ahrefs and seller sprites are all good choices, which can effectively help us collect data of competitors, so that we can better analyze and judge the status and development trend of the other party.
4.Q: How to deal with massive data information?
- A: Can use data analysis software such as Excel or Python programming to simplify the process, in general, we POD clothing sellers have their own analysis template documents (no similar modifications can be searched online or can be directly used), through the targeted data content, to make the corresponding judgment.
5.Q: What if I find my product is at a disadvantage?
- A: Should actively look for the competitive advantage of differentiation, while improving the existing shortcomings, can improve the improvement, if it can not be improved, it is necessary to change the standard product, the biggest significance of the analysis of competitive products, is the development and positioning of the product, if there is a problem in the development, at a disadvantage, or do not do it, to lower the standard, with similar competitive products to do competition, rather than face the strong enemy, with the stone.
