Enterprises are increasingly demanding deterministic growth and ROI improvement, and omnichannel growth has become the focus of more and more enterprises. How to help enterprises establish a global perspective and create increments for global ROI improvement and business growth?
Recently, at the "Global Growth" forum of the 16th Golden Prize International Creativity Festival, Giant Engine proposed a new concept of "Douyin" full-income growth, that is, "do a good job in Douyin marketing and operation integration, and leverage omni-channel business growth", and shared the thinking on Douyin full revenue and the ability system and global measurement solutions supported by the three major values. Giant Engine believes that the concept of "business" full revenue can not only help brands better obtain omni-channel business increments, but also become a long-term idea for brands to do business in Douyin, helping brands to think simply, more scientifically and more globally in an increasingly complex business environment.
Xu Jia, General Manager of Marketing Marketing of Big Engine
Shake "business" full revenue: drive brand omni-channel growth
In the investigation and communication with hundreds of enterprise decision-makers, Giant Engine found that how to create increments for global ROI and business through the investment of Douyin has become the topic of most concern. Many businesses believe that the content platform represented by Douyin does provide new opportunities for business, but more complex operation and marketing actions, as well as challenges to the original organizational structure of enterprises, make the improvement of business and ROI easy to encounter bottlenecks, and the long-term value of Douyin investment to the overall business cannot be revealed.
The proposal of "Shake "Camp" Full Income" is to solve this bottleneck, so as to help brands and merchants establish a more holistic business perspective, open up Douyin delivery and omni-channel output, and formulate more effective marketing and business strategies based on overall business results. This concept is embodied in three aspects: first, Douyin marketing can help omnichannel conversion; Second, brand grass planting has high certainty and effectively affects the minds of omni-channel people; Third, operation and marketing can be efficiently coordinated to drive omni-channel business growth.
Value 1: Douyin marketing helps omnichannel conversion
Through multiple investigations, Giant Engine found that there are significant Douyin spillover phenomena in different business scenarios. For example, the spillover rate of Douyin in the consumer goods industry is 20%-40% (that is, 20%-40% of consumption occurs in channels other than Douyin e-commerce), and consumers in the local life industry who guide to stores through Douyin are 9 times more likely to participate in Douyin group buying; In addition to retaining investment in Douyin, 4.5 times more consumers in the automotive industry will retain money on other platforms or go directly to the store to experience.
This spillover value is Douyin's unique back-link value, that is, after consumers complete cognitive construction on Douyin's front-link, they may either purchase directly from Douyin e-commerce or complete purchases through other channels. In the current growth model of the brand side, the value of Douyin's spillover contribution to the business is often overlooked. If brands can correctly recognize the omni-channel value of Douyin and adopt targeted strategies, it will greatly increase the brand's omni-channel business increment.
Take the clothing brand FILA, for example. FILA established a separate Douyin business unit in 2020, and began to try to layout Douyin cloud retail from the start of DP generation operation and store self-broadcasting. After starting the full-link marketing cooperation with Giant Engine, FILA proved that Douyin has significant offline spillover value through crowd touch point analysis results, so it opened up online and offline goods, unified pallets, optimized inefficient stores, and concentrated human and material resources for online operation. Under such a combination with a global view, FILA's GMV ranked second in the Douyin sports track last year, and the growth rate of Douyin's business achieved the first in omni-channel. Today, FILA has not only transferred more new products and cutting-edge products to Douyin, but also increased more IP, star map and search and other grass marketing cooperation, creating the brand's core marketing and conversion position, effectively driving the brand's business growth in other channels, and realizing the "take all" of Douyin's closed-loop value + spillover value.
Obviously, in order to correctly understand the omni-channel value of Douyin, it is necessary to start from the overall situation and combine "closed-loop value" with "spillover value". In order to help enterprises see and make good use of the global value of Douyin in real time, the marketing science team of Giant Engine has developed a special measurement product, which can not only timely see the contribution of Douyin marketing to the business transformation of on-site and off-site channels, but also disassemble business goals by channel, optimize budget allocation, help enterprises build overall strategic thinking, calculate the overall account, spend money well, and make good decisions.
Value 2: Definitive grass planting affects the minds of omni-channel people
Douyin's marketing can also amplify the value of omni-channel at both ends of planting and harvesting, which is mainly manifested in the certainty of the front-link planting end and the efficient synergy of marketing operations at the back-link revenue end.
Douyin's powerful grass planting ability mainly comes from the scientific grass planting matrix composed of brand advertising + influencer marketing + search advertising built by the huge engine to be close to business transformation and the core built around the A3 crowd. At the same time, the giant engine also launched a new integrated product solution "Star Map Search Straight", which helps brands open up the front and back links, pull grass planting and undertake transformation in the station, and improve the business contribution of spillover to transactions outside the station, better strengthen the influence of brands or products, and finally achieve a positive cycle of planting and harvesting. According to the data of global measurement product usage, the spillover rate of Douyin grass-related touchpoints, including brand advertising, content hot promotion, star map experts, and grass cultivation, generally exceeds 50%.
For example, a 3C cutting-edge brand has realized the transformation from a newcomer in the industry to the top three in the share through Douyin seeding. At the beginning of its establishment, the brand chose the strategy of "concentrated budget to penetrate Douyin", through participating in the promotion of IP, self-made nodes, linkage of stars and talents, etc., to do a large number of people to store water and plant grass, actively and a large number of consumer purchase motivation, and then achieve conversion during key festival promotions. In 2022, the brand's GMV increased by more than 10 times year-on-year, and its sales increased by more than 1200% year-on-year. The data also shows that the average sales of each live broadcast room of the brand have steadily increased by 30%, and have now grown into the top 1 category of Douyin. Obviously, planting good grass on Douyin can make the overall business growth more stable and sustainable.
Value 3: Efficient synergy between "dual operations" drives omni-channel business growth
On the revenue side, Douyin's deepening integration of operation and marketing is showing stronger and stronger synergies, and its stimulation of business growth is not only reflected in the growth of business on the site, but also drives the overall business growth of enterprises. According to the internal data of the giant engine, the GMV scale of the second half of last year increased by 110% compared with the first half of the year, which was higher than the e-commerce business market.
For example, a balanced head beauty brand used global measurement to find that the spillover rate of Douyin to a leading e-commerce platform was as high as 40%. Later, through attribution analysis, it was found that the proportion of new customers in the spillover GMV was 31%, which was significantly higher than the proportion of non-spillover new customers. This proves that operation and marketing collaboration can not only bring about transactions inside and outside the station, but also achieve new customers to break the circle, accelerate the accumulation of brand crowd assets, and facilitate the long-term development of the brand.
In addition, the "dual-operation" synergy has also provided great benefits for local life service businesses. A F&B customer with hundreds of stores in China for more than a decade found that 80% of customers who switched from Douyin to offline were new customers. The data shows that the ratio of offline conversion to value spillover achieved through Douyin marketing reaches an average of 1:1, and even if users cannot go directly to the store to consume, the subsequent conversion brought by the spillover is also considerable.
Global Measurement: Required for building a "global view"
In order to help brands truly see the input and output of omni-channel and better build a global view, Giant Engine has launched a global measurement solution to calculate the contribution of Douyin marketing to omni-channel business growth for different decision-making roles of brands, and optimize Douyin marketing with the goal of omni-channel business optimization.
The solution adopts MTA (Multiple Touchpoint Attribution) and MMM (Marketing Mix Model) two mature algorithm models, providing accurate measurement and statistical measurement for brands to choose, supporting brands to independently choose the attribution method, attribution window, and measurement period, etc., and allow the brand to see the results in days. Tune your budget allocation and delivery strategy in real time for the next step.
For the brand C level or marketing department, through this program, you can clearly see the value of Douyin marketing products and star grass to omni-channel business, and better allocate the global grass planting budget. For the head of brand C level or EC, not only can you see the GMV contribution of Douyin effect advertising (that is, the huge amount of thousands of rivers) to Douyin e-commerce, but also see the spillover GMV contribution to other channels, so as to better allocate the global performance budget.
Since the launch of the giant cloud map brand version in April this year, Global Measurement has attracted more than 10 industries and nearly 100 brands to use it first, creating more than 500 usage reports, and the positive feedback rate of customers is as high as 86%. The current product usage data shows that the average spillover rate of customers reaches 39%, but the spillover rate of different industries is also very large, and the highest spillover rate is in the apparel industry, reaching 60%. It is followed by the healthcare industry at 46%, the home appliance industry at 43%, and the food and beverage industry at 42%.
Sui Pengyu, head of marketing science products at Giant Engine
Giant Engine said that the era of local optimal solution has passed, and future growth must be omni-channel growth from a global perspective, which requires not only the strong investment of the platform, but also the active participation of the brand side, elevated to the height of corporate strategy, and made breakthroughs in organizational structure and team capabilities.
In order to unite more brands to jointly promote omni-channel growth, Big Engine released the "Global Pilot Program" in the middle of the year, hoping to join hands with a group of brands with industry benchmarks and influence to jointly explore the global growth model. At present, more than 150 brands have signed up for this program, more than 100 brands have been selected, and the selected brands have enjoyed the 1-to-1 service of the exclusive team and given inclined resources to jointly achieve the goal of omni-channel growth.
"Douyin" "All Income" allows brands to move from the old era of single-channel delivery to the new era of omni-channel joint operation, and realize a simpler, more scientific and more comprehensive marketing operation method with the help of Douyin content, technology and products. With the countdown to the promotion of Double 11, with the blessing of "shaking "camp" and "full income", brands can do a good job of planting grass and storing water in advance, influence the minds of omni-channel people earlier, and do a good job in undertaking and transforming omni-channel business with a global perspective.