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The author is in charge of product work in a vertical e-commerce company. When I just took over a new product line last year, the boss gave me the task to create an advertisement placement page with reference to the second-class e-commerce company, and try the effect of advertisement placement.
Simply sorting out the background and keywords, vertical e-commerce companies, and advertising in the WeChat applet environment to improve advertising effects. The boss's task is only to point out a direction. What the product manager needs to evaluate is whether this product direction is valuable and how consumer email list much energy is worth investing in.
Advertising is a channel for stably acquiring new users, sorting out product lines, and acquiring more high-quality users. This product direction has great value space. The value of the product is confirmed, and the next step is to analyze the current situation of the business.
As an aside, what would you do if the demand sent by the boss was of little value?
1. Business Model
The characteristics of e-commerce products are that the business side has a great influence. For example, Ali's operation is in the C position consumer email list of the company. To design advertising products, you need to sort out the existing processes and business characteristics before you can prescribe the right medicine. After sorting out, we learned that the business model launched by the company is as follows:
The characteristics of our advertising delivery business model are: multi-party participation, long delivery process, outsourcing model of cooperation with agency companies, and less involvement of the company's business side in the core link of delivery. The launch environment is the WeChat applet. After the user clicks on the advertisement, it will directly evoke our WeChat applet and enter the advertisement landing page.
2. There are problems
The core problem is that the cost of new customers (new paying users) is too high, exceeding 100, because the number of small program transaction users is one of the core KPIs of the product department, and the high cost of new customers makes it impossible to expand advertising. Further analysis revealed the following procedural problems:
There are too few pages available for delivery at the product level, and they are too monotonous. They are all regular pages for promotion use, no explosive product pages, and lack of customized activity pages;
The promotion process lacks business participation, and the promotion process of the agency company is a black box, which we do not fully understand;
There is no real-time data monitoring. Our data interval is 1 day. On that day, we can only view the data of the previous day. Data monitoring is seriously lagging behind.
3. Solutions
After discussion, we determined that the goal of the first phase is to reduce the cost of new customers (new transaction users). To analyze the composition of new customer cost, the formula is as follows:
In order to reduce the cost of new customers, improving the conversion rate of bookings is the most core element. Based on this, what we need to do is:
Product design more promotion landing page
Establish a data system that can be monitored in real time
Establish an advertising delivery process with deep business participation
In order to promote the project, we firstly established a cross-departmental launch team with product, operation and market participation, and established a launch investment mechanism for business participation.
4. Iterative Methodology
Because market launch is cyclical, and product development also has cycles, we have determined a method with agile iteration and growth experiments as the core, speeding up the launch, trying to shorten the cycle, and conducting multiple launch experiments in a short period of time to improve the launch conversion rate.
The flow of the growth experiment is as follows:
5. Product Design
1. Put a single product page
Our first product attempt made a single product page dedicated to promotion. The single product page is the core page of e-commerce conversion, and the information structure is relatively fixed and complex.
In the advertising scenario, the user's behavior follows the primacy effect, that is, the information the user sees at first sight has the greatest impact. The content of the regular single product page is too complicated. On the single product page, we have carried out information noise reduction, and removed a series of modules and information that have nothing to do with the user's key purchase process, such as comments, related recommendations, stores, collections, lists, and promotions. , highlight the title and description of the product, allowing users to get the selling point information of the product at first glance.
On the other hand, we chose to remove the shopping cart, simplify the purchase process, skip the shopping cart for direct settlement, only keep the [Buy Now] button, and directly evoke the settlement floating layer after clicking, without leaving this page, shortening the user's shopping path.