Picking the right value proposition is a crucial factor to determine the success of any eCommerce brand!
When you go to market with your brand, keep in mind that most likely, the same users that you are targeting are being targeted by a lot of your competitors!
That’s why it’s vital to have communication that is edge-cutting and straight to the point.
Read on to find out how to conquer it successfully, through the key steps to excelling at it.
🎯 How is your product unique?
🎯 What does your brand stand for?
🎯 Why they should choose you over
With this quick GPT4 process, you’ll be able to identify in no time all the reasons why people love or hate your competitor’s brands!
Step 1 – Pick your competitor’s brands
Make sure that each brand you pick have a relatively large repository of public reviews available (at least 50, ideally 100+). For this example, we picked Lumin.
Find the website with all the relevant reviews. Good examples can be Trustpilot, Amazon, Google Reviews or Clutch.
Step 2 – Create a Spreadsheet to collect all the Reviews
This can be a very simple 2-columns spreadsheet. Here you can see an example. To save time, we have a Virtual Assistaint doing this work for us. Remember, the more reviews you collect, the better the outcome will be!
Step 3 – Craft the right GPT4 Prompt.
We know the vibe with AI: the quality of the output is always proportional to the quality of the inputs that we give! In this case, I recommend using PromptPerfect, a simple tool that enhances our prompts.
Otherwise, you can just copy/paste the prompt that you see here below:
“As a marketing expert and eCommerce specialist, your task is to analyze the top 30 5-star reviews and top 30 1-star reviews of one of my main competitors, Lumin. Using your skills in market research, please identify common themes and elements among the reviews, and provide a list of the top 5 reasons why people love the products and brand, as well as the top 5 reasons why people dislike the products and brand.
For each reason listed, provide a brief explanation to support your findings, using specific examples from the reviews when appropriate. Please ensure your analysis is concise and objective, maintaining a neutral perspective in identifying both the positive and negative aspects of the competitor’s products and brand.
Lastly, feel free to suggest any potential improvements that can be made to their products or brand, as well as strategies for leveraging these insights to create a competitive advantage for our business. Be sure to balance creativity and flexibility with the focus on accuracy and relevance.”
Step 4 – Clean and Review the Results
Once you receive the outcomes, don’t forget to have a manual review for each of them. ChatGPT can be of great help, but remember it’s sometimes not precise or has mistakes.
After you do it, you will have a lot of food for thought that will allow you to re-shape your value proposition, and create compelling ads that speak directly to your audience’s feelings. Remember that you can use this process to analyze your own brand’s reviews as well!
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Peace, Love & AI ✌️