Text丨Fengfeng (hill)
Picture丨Photo Network
The well-known war photographer Capa once said: "If your photo is not good enough, it is because you are not close enough." As an Internet product manager, in the early design stage, for The understanding and continuous analysis of competing products can allow you to quickly understand the product overview and find the starting point for project launch; in the development stage of the product, look for differentiated survival opportunities among homogeneous functions. Competing product analysis and reference sublimation can Achieve overtaking in corners.
Competitive product analysis is a process of comparative analysis of competitors' products and functions. It is a subjective horizontal analysis process. Through the overall architecture and functional modules of multiple products, , interaction design, business model, product operation strategy, etc., conduct multi-dimensional horizontal comparative analysis, and finally obtain purposeful conclusions, and realize the output and reference of the conclusions.
Product managers will do competitive product analysis before designing a product, that is, comparing and analyzing competitors' products. Competitive product analysis reports can allow product managers to keep abreast of competitors' products and market dynamics, master their competitors' product strategies and capital background, and remain sensitive to the market. At the same time, they can provide reference for their own product decisions and obtain reasonable entry points. points and be able to quickly adjust and maintain an advantage in the market.
Before doing it, you need to think about three things: What does the competing product do? How are these things done? What are the advantages and disadvantages of competing products? Research, analyze, and summarize according to this thinking path.
Competitive product analysis reports can bring value to the company and business, so effective analysis is very important. Four principles can be used to evaluate effectiveness.
01Positioning principle
Before starting competitive product analysis, you must understand who your competitors’ service groups are, and find the service groups and group attributes behind the products, that is, find user portraits, and refine the user portraits Find the positioning of competing products, thereby judging the compatibility between the other party's products and your own products, and select the most consistent product as the product to be analyzed.
02Filtering principles
When there are many competing products, you must choose the right analysis object. Selection is more important than analysis, and analysis is more important than listing. Selecting the most typical competing products or competing products that directly compete with itself for analysis can improve the efficiency of analysis report output.
03Goal principle
In what scenarios will the competitive product analysis report be used? Who will you tell it to? In different situations, the way of expression is different. If the competitive product analysis report is shared within the team, the scope of sharing will be relatively small. In this case, the focus is on clearly explaining the analysis process and conclusions, and there are no strict requirements on the expression form. If the competitive product analysis report needs to be displayed at a high-level meeting, the content should be relatively rich. It is recommended to output it in PPT format. There are also higher requirements in terms of logic, layout, aesthetics, and weight of analysis charts. Another scenario is the launch of a new product. When many new products are launched, product managers are required to make competitive product analysis reports. Competitive product analysis reports can help inspire product design ideas, determine the core functions of the first version, and find the initial positioning. There is also a scenario where the product has been launched, but one of the functions or modules needs to be optimized. At this time, the product manager does not have many ideas, or the idea is not very sure yet, so he needs to learn how other products are designed and quickly find similar products. modules to learn from.
04Audience Principle
Who should this report be shown to? Different audiences will decide on the way and granularity of report writing. They decide whether the report should be written in WORD, PPT, drawings on paper, or even dictation. Writing reports takes a lot of time. In addition to selecting the right competing products, it is also necessary to choose the most appropriate expression method according to the specific scenario. By making good use of the four principles of effectiveness evaluation, you can lay a solid foundation and improve writing efficiency.
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For more content, please pay attention to "A Must-read for Internet Financial Product Managers: From Financial Business Analysis to Practical Internet Product Design"
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About the author
Downhill (hill)
Product experts. He entered the Internet industry in 2005 and the Internet finance industry in 2014. Senior product manager of a well-known Internet financial company, columnist of "Everyone is a Product Manager", corporate training lecturer, and certified lecturer of "Structured Thinking" copyright course.
Has rich experience in C-end and B-end product fields, many Participate in or organize the construction of Internet product architecture and user growth strategy formulation from 0 to 1. There is in-depth research on the professional skills and career planning of product managers.
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