Low ROI and revenue on a product are sometimes the consequence of an ineffective product launch. Some errors are easy to fix, but there are also others that make it nearly impossible to back up once you’ve started. Thus, we put together an easy-to-follow guide on how to successfully launch a product on Shopee that is guaranteed to bring you the most profit.
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Identify your Product USP (unique selling proposition)
Split Dragon is equipped with a market research feature that allows you to do the following:
- Identify your competitors
- Know your competitors’ prices
Just go to Split Dragon and select Market Research. Under this menu, click on Shopee Sales Database.
Select your market country and database then tick on the product category you are participating in. Click Search.
The rest of the information in the results section will be more useful in your journey as an online seller. But during the launch phase of your product, focus on identifying your competitors and how they are pricing their products in the meantime.
Your USP is basically something that makes your product valuable and unique compared to other competitors’ products.
This helps your customers decide why they should buy your product over other products.
Here is a simple guide that will help you identify the USP of your product
1. Create buyer personas. This means listing possible personalities, traits, or problems your prospect might have. Doing this will help you discover how your product can help solve your customer’s problems. For example, if you sell video game capture cards, you can identify in your buyer persona that your prospect is most likely a video game maker. A common Canada email lead problem that video game creators face is their PS4 or PS5 console not being processed by their PC streaming software due to copyright issues. In this case, you can say that one of the USPs of your product is HDCP support.
Depending on your niche or category, it is recommended that you have three or five buyer personas.