CCTV re-exposed, why has the low-cost financial and commercial class become a "small strong that can't die"?

Under strict management, many low-cost financial and commercial courses have changed their appearance, still unscrupulous, and continue to "cut leeks", why has the low-cost financial and commercial course become a "small strong that cannot be killed"?

Produced | NBS New Product Outline Author | Wu Wenwu

01 CCTV re-exposed the financial and commercial class routines

For many people, especially for financial whites, whenever they see financial and business courses, they will always be tempted by low (or free) course fees, high returns and "successful cases".

However, as everyone knows, behind these financial and business lessons, there are layers of routines and traps.

NBS new products are slightly concerned that the CCTV Finance "Economic Information Network" column recently reported a market observation of a "12 yuan Xiaobai financial management class scam", which once again exposed the chaotic situation of financial and business education.

CCTV has exposed the chaos of financial and business education more than once before, but I did not expect that these chaos still exist, not only did not cool down, but also very crazy.

For example, a financial management course advertised that "only 12 yuan, to achieve financial income is higher than the salary", when the reporter spent 12 yuan to sign up for the financial management class of Weimiao Financial Quotient", "focus on popularizing financial knowledge for Xiaobai", and then was pulled into a large group of nearly 100 people by the teacher.

The routine has not changed, these groups not only did not popularize financial knowledge, but emphasized the importance of financial management every day, sold anxiety, and made the students want to move.

Soon, these financial and commercial teachers began to recommend 6998 yuan of courses to students, many people after buying advanced courses, the promised live class became a recorded class, not only the lecturer ignored the students, if the students want to withdraw from the class refund will be directly rejected.

More exciting is also in the follow-up, some financial teachers often claim that through the analysis of financial reports, began to recommend stocks, the result of the students followed the purchase, and eventually fell into a loss.

02 Low-cost financial and commercial class becomes "leek harvester"

Many students who sign up for the finance and business course value learning investment and financial management knowledge, but in the eyes of financial and business education institutions: students are "leeks".

As mentioned above, from the perspective of the operating model, the course content launched by these financial and business educational institutions is homogenized, and the means of publicity, enrollment, and operation are also the same.

NBS new products slightly summarize the routine of the low-priced financial and business class in one sentence: low price is a gimmick, and the routine is behind.

The first step is to drain the flow at a low price and look for screening targets.

These financial and business training institutions or course teachers have hyped up through various channels such as social media, short videos, and circle of friends, and attract targets with a few dollars or even 0 yuan.

When many people see low or free, they will hold a low-cost or cheap attitude, can't help but try, which has become the "prey" of the finance and business class, and the course teacher will pull the registered students into the WeChat group.

The second step is to slowly "water" and create anxiety.

After joining the group, it is normal at the beginning, and it will publish course themes, course content, course schedules, and even assign homework.

Gradually, the flavor changed, in addition to the so-called "picture + text + short video" way of teaching, slowly chicken soup text, investment and financial management cases began to come out.

It is nothing more than selling anxiety to students, telling success stories, low-cost investment, high-yield returns and other case temptations.

For example, a financial management course once advertised that "there is a "successful case" of a cleaning aunt who bought a house for her son through financial management.

The third step is to continue digging the pit and start "cutting leeks".

Later, advanced courses were introduced to induce students to upgrade their courses, and even to induce students to use installments or installment loans.

These lecturers began to talk about financial report analysis, case practice, etc., and even made stock recommendations or other investment and wealth management product recommendations. Many students will think that following the teacher is correct, and as a result, there will be a loss after entering.

Induce students to purchase VIP or advanced courses, and recommend various stocks, funds or other financial products to students, which has become a routine.

After upgrading the course, many students found that it was far from the publicity, and the investment was lost, and the final withdrawal could be, the refund was impossible, and even if the complaint could not be recovered in the end.

What is even more frightening is that there are some financial and commercial classes behind the hidden "pig killing plate" and various scams, and there are many examples of blood losses.

Obviously, financial and business education is only a profiteering business for the operating institution: the low-cost financial and commercial class has become a "leek harvester".

For example, a course package of nearly 7,000 yuan, the gross profit margin is as high as 90%, the net profit margin is also 40%, and the annual revenue of a head financial and business education institution can exceed 2 billion yuan.

03 Why has the low-cost financial and commercial class become a "small strong that can't die"?

In recent years, the chaos of low-cost financial and business course routines has been repeatedly searched and exposed many times. So, why has the low-cost financial and commercial class become a "small strong that can't die"?

In the view of the new NBS products, it can be viewed from many aspects, such as the audience group of low-cost financial management courses, the domestic financial and business education stage, and the changes in the social and technological environment.

First of all, from the perspective of the audience, the main audience of the low-cost financial and business class is almost all small white, and it is easy to "hook".

These low-cost financial and business classes of 0 yuan and more than ten yuan are aimed at groups such as financial whites, moonlight families, college students and housewives.

The overall characteristics of this group of people are not high income, daily financial needs are large, have very obvious financial anxiety, desire financial freedom, but at the same time do not have much time to learn financial management methods.

These financial and business courses accurately grasp the wealth anxiety and the psychology of making quick money in such groups, and those who take the initiative to sign up for courses are grasped one by one.

Secondly, from the perspective of the larger background, China's financial and business education is in the primary stage, and the overall gap is blank.

Since the reform and opening up, China's economy has developed rapidly, residents' income has increased, disposable income has increased, and more and more people have begun to invest in financial management.

Some market views believe that the chinese people's financial businessmen have not kept up with the pace of economic growth.

As early as 2018, the first domestic parent-child financial and business education research report pointed out that the average financial and business index of Chinese was 60.1, and it had just crossed the passing line.

Yin Zhichao, a professor at the School of Finance of the Capital University of Economics and Business, once calculated the financial knowledge level of Chinese households through three questions: interest rate calculation, inflation and investment risk, and the results of all the correct answers were only 1.65%, far lower than that of the United States, the Netherlands and other countries that attach importance to financial and business education.

In 2021, the national financial management has become a hot topic, especially the young people's financial management topic is frequently searched, on the whole, the lack of domestic financial and business education, especially the wealth anxiety of young people is more obvious, and there is also a lack of financial and business education.

Third, digitalization accelerates and reshapes financial and business education, inevitably bringing negative phenomena.

In recent years, the mobile Internet has further penetrated into life, the rise of social media, especially short videos are popular, and many people learn through short videos.

The original offline various financial and business courses will also quickly shift the main position to the online, under the influence of traffic thinking, low-price drainage, excessive publicity, elaborate design of "routines", induce investment and other chaos followed.

04 How to standardize and rectify the chaos of financial and business education?

Although it has been exposed by the media many times, it is like a "small strong man who can't die".

According to the data, as of the end of July 2021, there are 9998 financial and business education-related enterprises in China, of which 98 will be added in 2021, and the head effect of the financial and business education industry is obvious.

These so-called financial and business courses are still going on unscrupulously, and chaos still exists, so we should pay more attention to and constantly standardize and purify the financial and business education environment.

First of all, from the perspective of the public, it is necessary to establish a correct concept of investment and financial management, and it is even more necessary to have basic financial common sense and risk awareness.

According to the relevant laws and regulations, without approval, any institution and individual, may not provide services for securities trading and related activities, most financial and business educational institutions, without the approval of the Securities Regulatory Commission, the relevant personnel have not obtained securities qualifications, so they carry out activities such as recommending stocks, which is illegal and is an illegal stock recommendation activity.

Everyone should establish a correct outlook on investment and financial management, have a sense of financial risk and investment risk, and have a certain basic ability to distinguish.

Secondly, from the perspective of industry development, it is urgent to standardize the financial and business education industry.

People need financial and business education, financial and business education is not wrong, the mistake is that these so-called financial and business education institutions use low-price gimmicks to attract people to buy courses, and even recommend investment in financial products, resulting in chaos in the financial and business education market.

In August 2021, the CAC in the special rectification activities to crack down on eight types of financial and economic violations, the seventh category clearly pointed out that it is necessary to crack down on speculation on social malignant events, negative extreme events, incite sadness, anxiety, panic and other emotions, in order to promote the so-called "financial and commercial classes", various types of insurance products, etc.

Under supervision, although these financial and business educational institutions have converged in a short period of time, many financial and business educational institutions have quickly changed their appearance, changing sensitive words such as financial business and financial management to entrepreneurial education, financial thinking, etc., and even turning into "underground".

The most important thing should be to strengthen the standardized supervision of the financial and business education industry, such as clear classification, should be issued a school license, and strictly regulate the operation of institutions and teachers.

Third, financial and business education is a long-term systematic project that requires the participation of the whole society.

Financial and business education is very important for everyone, but it is unavoidable that the national financial and business education is still in its infancy, the public generally lacks basic financial knowledge, and the emergence of low-cost financial and business courses and their chaos has shown that it is imperative to strengthen the cultivation of national financial knowledge and financial management capabilities.

Financial and business education is a social public education undertaking, relying on the so-called financial and commercial education institutions alone can not solve the problem, the need for relevant industry organizations, licensed formal financial institutions and professional financial practitioners to carry out investor education and financial business training, the need for the whole society to participate.

More importantly, as a general public, when facing these so-called low-cost financial business courses, we must polish our eyes and resolutely say no to them.