If a few new products fail, they may go bankrupt and close down. How should small companies reduce the risks behind new products?

Table of contents:

1. What is the thing that Amazon is most afraid of but has to do?

2. How to reduce the risks behind new products and thus increase the success rate of new product launches?

3. Ask a question
   

4. Don’t blindly promote new products

What is the thing that Amazon is most afraid of but has to do?

The answer is to launch new products

Because no product can be eliminated forever
Even Anker needs to continue to expand its products and categories
But launching new products requires investment, trial and error, and may result in losses.
But in this environment, you can’t just rely on your old capital.

Amazon launches new products 16 years later
It is no longer possible to launch a new product with great certainty as before. The only thing that is clear now is that every new product requires a lot of investment, not only in terms of money, but also in terms of the team’s energy and trial and error costs.

The most terrible thing is that the investment cost is high but the return is uncertain.

Especially for small sellers like us with less funds
Just like playing extreme sports, a small mistake could cost you your life.
Can't afford to lose, really can't afford to lose

Large companies can still rely on funds and size to wait for the next hit product
If a small company fails to launch a few new products, it is very likely to go bankrupt and close down.
I still don't know how he died until the end.

Sometimes it is not the product itself that has defects. It may be due to too much market competition, the pranks of peers, the inability to keep up with the operational capabilities, the wrong direction of promotion, the boss's decision, the inability of the capital chain and supply chain to keep up, etc., or even bad luck. Too many factors can lead to the sudden death of new products.

Just like the Oriental Selection incident in the past few days, it was obviously an internal conflict that was handled and reconciled internally, and had very little impact on the outside world. Now the market value has evaporated by 8 billion Hong Kong dollars. If I were Mr. Yu, my 80-meter sword would kill anyone who stood in my way. I don’t know if Oriental Selection can still make a comeback, but because of this reason, the company suffered heavy casualties. Damn, this is too uncomfortable and unfair.

How many friends who have quit Amazon can’t figure out how to review the situation afterwards? They feel that they are wronged, as if they did nothing wrong, but the company is gone. In the end, they can only curse the platform as a garbage platform.

In the final analysis, we are all just a makeshift troupe, randomly putting up a stage to perform our own plays. What we compete for is not who is smarter or who has better management, but who is more stable, who makes fewer mistakes, who has a higher tolerance rate, and who can sing to the end and survive.

How can small sellers reduce uncertainty and increase the success rate of new product launches?

I think launching new products is like conquering a city.

First of all, the most important thing is to collect data. In a war, you must do a good job of intelligence collection. Only by understanding the details of your opponent can you win the war. Don't just do it when you see a product that sells well on the market.

When Li Yunlong attacked Ping'an County, he had to first understand the enemy's firepower situation, and then he had to join forces with other local troops to use sniping to take it down. If you don't understand anything deeply, you are just a soldier rushing forward to give away your lives, and you don't even know how you died.

Let me give you some data that we use to determine whether a product should be made:

Number of new brands: Determine whether a large number of sellers have entered the market
Number of new top brands: judging the stability of top traffic
Number of SKUs in top stores: boutique or mass merchandising, analysis of operational capabilities
Price range analysis : Determine which price is most appropriate for the product
Node ranking analysis: Which sub-category is most likely to be impacted
Header review analysis: quantity, analysis of positive and negative reviews, for optimizing listings
Traffic entry analysis: formulate different promotion plans in the early, middle and late stages

There are also the average return rate of peers, profit margin, conversion rate, promotion cost, life cycle, and what actions have been taken, etc. These are all things that must be done before launching new products.

After completing data collection, the next step is to develop a promotion plan:

That is, the battle plan for fighting a war. For example, take keywords as an example, which words should be promoted first, what ranking should be achieved (naturally), how much budget should be estimated, whether to use advertising or other means, how long it will take, and which words should be promoted after stability (where to attack, how long it will take, how many troops to invest, what kind of firepower is needed, and where to attack after occupying it)

The business world is like a battlefield. The principles are the same. You need to deploy your troops and see your own strength and the situation clearly. Set the direction and goals, and implement them in a planned way. You can't just take it one step at a time and rely on luck. Maybe your luck will be better at the beginning, but will it always be good?

Different products have different promotion plans, but the general framework can be applied. Your competitors are different at different stages, so you need to use different tactics. You can't use the same routine for all new products. When the product is launched, run the automatic advertisement for a few days, select the keywords with high exposure, and do manual promotion, and then continue to promote it. If it doesn't work, change the keywords and continue to promote it. I call this kind of operation a brainless stubborn kid. There are obviously better options, but you insist on using the most expensive one.

You may lose to your peers, but you lose because of lack of resources.

Even say that the loss was due to bad luck

But we should not lose in intelligence capabilities that we should not lose in the first place.

Why are you willing to spend tens of thousands or even hundreds of thousands of dollars to launch a new product?

Why are you unwilling to devote some energy to this?

Ask a question

Can you tell me how many keywords there are for the product you are responsible for?
Ten? Twenty? Thirty? That's the limit, right?

But are there only so many? No way. There are still a lot of keywords waiting for you to promote. You have to list them one by one and analyze which ones are easy to promote and which ones are not, what the bidding is, what the search volume is, what the error tolerance is, what the CPC price is, which ones can meet your daily traffic needs, etc.

I found that 80% of the companies around me don’t even have a keyword table. It’s like they’re going to war but don’t know what weapons they have. They just push whatever word they think of and don’t even record the rankings. How are you going to optimize? No matter how you want to optimize, you don’t even have a plan or a goal. Where are you going to push it?
All of the above can be done before launching new products, which can help you avoid pitfalls, detours and mistakes.

Only by knowing yourself and the enemy can you win every battle

The business model that relied on platform dividends and personal experience in the past

In the current cross-border market competition environment, it will be hammered

The market is changing too fast nowadays. There is no time left for you to try things slowly. The cost of trial and error is too high. You must figure out what you want to do before you do it, and adjust the plan based on feedback as soon as a new product is launched.

Love can be blind, but new things can’t be.

There are too many products and competitors nowadays. You can think of all the competitors you can think of. All you can do is to be more thoughtful than them and reduce your uncertainty.

Sometimes your opponent will reveal his own flaws and then kill himself.
Certainty is the most important thing when launching new products now.

There are too many uncertainties in cross-border transactions. You don’t know there will be so many unexpected things until you hit the rocks.
Therefore, captains of brand overseas
No matter whether you can find the One Piece in the end
Most importantly, you survived.