On October 14, 2021, Kid King was successfully listed on the Growth Enterprise Market of the Shenzhen Stock Exchange, with an opening surge of nearly 300% and a market value of more than 25 billion yuan, becoming the "king of market value" of A-share maternal and infant child service brands. Since its inception in 2009, the brand has almost redefined the maternal, infant and child industry, and many professionals have evaluated it as: there are two models in the industry, one is called the child king model, and the other is called the non-child king model.
So what is the child king model and the non-child king model? Today let Xiao Teng teacher lead everyone into the child king, this article will be from the child king's strategic layout, product services, user operations, etc., disassemble this super brand that has risen strongly in the maternal and infant and child industry.
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Strategic layout: create value on the stock, and look for opportunities in increments
According to the data of the seventh census, the average annual growth rate of Chinese in the decade from 2010 to 2020 was 0.53%, down 0.04 percentage points from the previous decade. In the environment of continuously low fertility rates, many practitioners in the maternal, infant and child industries feel very anxious, but in the view of The Child King, the more uncertain the environment, the more likely it is to give birth to new opportunities.
Image source: iResearch
As far as the macro scale of the maternal and infant market is concerned, the compound growth rate from 2010 to 2020 is 15.06%, and it is expected that this data will remain at about 10% in the next five years, with the introduction of the national three-child policy, the scale prospect of nearly 5 trillion yuan will provide a broader growth space for people engaged in the maternal and infant and child industry.
Image source: iResearch
As far as the competitive advantage of the maternal, infant and child market is concerned, creating value on the stock is the best way to reduce risk. Child King is a heavy membership system of enterprises, deep ploughing single-guest economy is its core of operation, in the past 12 years, they insist on "to customers, from members", the value of existing users deep ploughing, is the internal driving force for its future development.
The previous stage was the infrastructure stage of the child king's creation model, layout of industries and supply chain, and now they are undergoing a new round of infrastructure upgrading, taking the user as the starting point, taking the parent-child family as the core, taking the data as the productivity, and continuously creating value through design interaction. They believe that being able to provide products with excellent quality and rich categories, and have the ability to provide professional services, is the best growth point for mother, baby and child brands to create revenue.
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Customer Acquisition Path: Reach based on technology and deep emotion
Regardless of any company, "obtaining a steady stream of customers" is the key to survival and development, under the new consumption scenario, the demand for goods and services for the new generation of maternal and infant groups has become more fragmented and diversified from the previous single channel. In order to obtain more customers, in addition to deeply cultivating large-scale offline digital stores, Kid King has also built a multi-product customer acquisition matrix such as mobile APP, WeChat public account, mini program and micro-mall online, created an online and offline omni-channel marketing network, established multiple touchpoints for brand and user interaction and perception interaction, timely and accurately met the all-round needs of consumers, and continuously reached more new users by building new scenes.
Image source network
Building a good reach matrix is only the first step to customer acquisition, and more importantly, it has a deep emotional link with customers, and completes the old with the help of word-of-mouth communication. To this end, Child King pioneered a set of single-guest economic models in the industry, such as "interaction produces emotions, emotions produce stickiness, stickiness brings high-output value members, and high-output value members' word of mouth affect potential members", relying on deeply cultivating membership services, providing members with personalized needs throughout the life cycle, and winning the good reputation and emotional recognition of more than 50 million member families. In 2021, more than 10,000 loyal members of Kid King released store exploration, product experience and store interaction videos on their self-media accounts, actively spreading the good reputation of brand goods, good service and good experience.
In addition to building a matrix and emotional interaction, Kid King also relies on the technical support of big data in terms of customer acquisition, relies on accurate user portraits for smart marketing and intelligent customer development, builds more than 400+ basic user tags and more than 1000+ personalized intelligent models, and continuously carries out precision marketing in the public domain traffic through the digital platform, improving the reach rate of the core population of mothers, babies and children, and empowering the business development of new customers.
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User characteristics: concept personalization, demand quality and scene diversification
The above mentioned three ways of the child Wang Tuoke, in essence, no matter which way is actually based on the accurate cognition of the merchant to the consumer, to deeply understand the consumer's group characteristics such as age stage, consumption preferences and parenting concepts. In shaping user portraits, they have also precipitated a lot of experience and thinking, which can be summarized as the personalization of parenting concepts, the quality of consumer demand and the diversification of consumption scenarios.
Image source: Child King
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Parenting concept personalization:
From the data point of view, now the post-90s and post-95 mothers account for more than 65%, is the main force in the maternal and infant market, and they have a bachelor's degree or above more than 70%, the most concerned is the scientific and personalized concept of parenting.
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Consumer demand quality:
The parents of the post-90s and post-95 generations were born under the national flag and grew up in the spring breeze. Growing up in a much better environment than their parents' generation, they are not very sensitive to price in terms of consumption, and pay more attention to the quality of what they buy and the user experience when shopping.
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Diversification of consumption scenarios:
The epidemic has repeatedly made the digital economy develop rapidly, whether it is food, clothing, housing and transportation, everyone can consume and experience online and offline, and stores that can meet user needs anytime and anywhere are likely to gain the favor of consumers.
The times are developing, and the maternal and infant and child industry has also developed from meeting the basic needs of consumers such as food and clothing to an integrated business model of "commodities + services + industrial ecological economy". These personalized, high-quality and diversified consumer demands have forced the maternal, infant and child industries to actively expand the types of goods and services, implement omni-channel layout, and enhance interaction with consumers.
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Product service: focus on solutions and personalized services
When it comes to the integrated business model, it is natural to pay attention to the products and services of the whole life cycle of users, so how does the child king configure the corresponding product and service standards?
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On the product side, Kid King built a user life cycle product
From online to offline, from pregnancy to pregnancy to play, teaching and learning, more than 1400 whole-process products are not a display of goods, but a solution to a problem. These products meet the all-round needs of the entire parent-child family of the mother, baby and child groups, such as special formula milk powder to solve the problems of lactose intolerance and allergies, and various social activities to solve the problem of children who do not like to talk.
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On the platform side, Child King has built a full-category maternal growth service platform
This platform links users aged 1 to 8, with the vision of providing professional and intimate maternity and growth services for tens of millions of families. For example, for pregnant mothers-to-be, there are star-rated confinement interviews, confinement meal tastings, pregnant women photography and other services; for postpartum novice mothers, breastfeeding guidance, lactation, full moon sweating, postpartum repair, infant touch, infant haircut and other services; for babies aged 1-3 years old, there are services such as pediatric massage, parent-child early education, quality education, children's play, etc.; for babies aged 3-8, there are parent-child family services such as travel accommodation and tourist attractions.
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On the service side, Kid King has a nurseryman and engineer for each member
Child King has nearly 6,000 professional parenting consultants across the country who hold the qualification of national nursery teachers, who solve parenting problems for members anytime and anywhere through digital tools, and can provide various parenting services such as prolactin, baby touch, haircuts and so on. Therefore, they are both nutritionists and maternal and infant nurses, and they are also child growth trainers, and this multiple role also makes them good friends and girlfriends of Bao Ma.
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On the experience side, Kid King launched a variety of parent-child interactive activities
Each store holds an average of nearly 1,000 interactive activities every year, which focus on the needs of members to play, accompany, learn, sunbathe, etc., including projects such as mother classes, novice parents training camps, baby crawling competitions, and catching weekly birthday parties, so that children can feel the charm of socialization in simple play and joy, so that parents can harvest the satisfaction of parent-child emotions.
Image source: Child King
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User Retention: Smart retail with accurate insight into user management and technology empowerment
From user pulling to product services, this is the first half of the enterprise operation cycle, the second half of the main consideration is the user retention problem, the child king has more than 50 million members, can effectively manage the retention of such a large group of members, its operation method is worth our in-depth study and learning.
Use big data to accurately mine and analyze users
Big Data
Image source: Child King
In this way, the member assets are digitized by technical means, and precision marketing tools such as "data pointers" and "super brands" are developed to quickly target the target user groups and accurately convert them by observing and analyzing user behavior.
As mentioned earlier, Kid King has set up more than 400 personalized member tags, while building a personalized user portrait, each member's user profile is unique, including basic information, consumption records, interaction records, emotional preferences and other tags, the 360 ° portrait of the member to help them carry out the smallest granularity of user insights.
In addition, Kid King also has its own R&D team, which has developed more than 1,000 intelligent marketing models, including price models for user lifecycles, multi-dimensional value scores, model calculations and behavior predictions. On the one hand, these models help brands to carry out crowd segmentation, population characteristic analysis, consumer behavior characteristic analysis and combination analysis, guide brands to establish the best time and choice of links with different groups, and achieve thousands of faces; on the other hand, they also screen out the member data of specific portraits, the specific user information obtained by stores and brands, and evoke, awaken and reach them through Channels such as WeChat, community, APP, and Mini Program.
Approach users through interaction in omnichannel scenarios
When conducting precision marketing to target users, Kid King pays more attention to face-to-face communication. They have trained nearly 6,000 parenting consultants who hold the national nursery qualification across the country, and link users one-on-one online every day through channels such as telephone, WeChat and community, providing users with professional guidance on parenting experience, while discovering the demands and pain points that users have not been solved.
They have a member center dedicated to solving problems for users in need and judging whether these are personality or commonality issues. More than 500 offline stores will regularly carry out customer forums every month, and service personnel and users will sit down and chat slowly, listen to users' voices, perceive users' feelings, and find deficiencies and opportunities from them. In addition, they will regularly conduct comprehensive research on various services through questionnaire surveys and other methods, and guide and improve the actual operation work with user opinions, and the starting point of all interactions is the user, and the final destination is the user.
Agile iteration of goods, services, and marketing to satisfy users
To meet the user, the ultimate is to create the user's satisfaction, based on the opportunity point found in the user insight, the child king quickly to the supplier reverse customization of goods and services, this agile iteration is not around each user to personalize the customization, but based on data positioning and user insights, to form a certain user group of demand to form a reverse customization solution, effectively meet the needs of users.
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Future outlook: adhere to the power of science and technology and humanized services
Looking back, after 12 years of hard work, the moat of the child king is getting wider and wider, the left hand is the accurate service of mother and baby, the right hand is the value-added service of maternity growth, they face the vertical population of mother and baby, providing a full range of in-depth satisfaction services for parent-child family life.
In the next decade, they will continue to adhere to the long-term userism and user value creation strategy, firmly through the continuous digitalization, service and ecological construction to achieve a breakthrough in the single-guest economy, and firmly embed the label of single-guest economy into the business model of the child king.
In addition to one-stop products and comprehensive service capabilities, the most core competitiveness of Child King is that it has captured the hearts and minds of tens of millions of maternal and infant child customers in China in advance, and in the future, they will continue to strengthen the construction of marketing channels, expand the dimension of commodity services, improve the service system of members, increase brand publicity and promotion, strengthen the digital construction of the whole industry chain, enhance the company's supply chain integration capabilities, and deepen the single-guest economy through the 9 words of "scientific and technological power + humanized service". Further consolidate the company's core competitiveness and market leadership in the maternal, infant and child industry.
With the change of the concept of baby-rearing of the new generation and the comprehensive upgrading of the consumer industry, the omni-channel business model of offline physical experience store + online platform represented by Child King will gradually become the mainstream of the maternal and infant retail industry. Under the benefit of the three-child policy, the child king, who has occupied a leading position, will continue to exert brand benefits and scale advantages to create a vigorous development of the big mother, baby and child industry ecology, and they also hope that more people can complete this big cause together in the future.
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