The small composition incident finally ended when Mr. Yu established an independent live broadcast room and a new company for Dong Yuhui. After this incident, what kind of positive impact will it have on the business model of Dongfang Selection? Let's briefly analyze it.
After a week of operation, the clouds were finally cleared: Mr. Yu established an independent live broadcast room and a new company for Dong Yuhui, which is mainly based on cultural tourism, giving full play to Dong Yuhui's strengths, and will still make guest appearances in the Oriental Selection Live Broadcast Room.
Recently, I have been silently observing the voices of various networks: some people are saying that the iron rooster has finally plucked its feathers, and some people say that Mr. Yu has great wisdom and believes in his processing ability.
I prefer the latter, because he is at the helm of New Oriental's seven times to deal with the crisis, from the essence of life, he and Dong Yuhui are the same kind of people.
Having said that, this move is similar to the Ming Dynasty in 1566, in order to replant mulberry seedlings in the affected farmland, Gao Hanwen proposed "has been changed and relieved, and the dilemma is solved". The reason for the difference in the outcome is that the top leader directly shoots and has the highest decision-making power, which I call "e-commerce and MCN, the dilemma is solved".
Let's continue to analyze in depth what kind of positive impact a move will have on the business model of Dongfang Selection.
1. New business models
We still use the business canvas to do the analysis, focusing on the nine dimensions of segmented users, value proposition, customer relationship, channel channel, key business, core resources, partners, cost structure and revenue composition.
Judging from this chart, a key task and partner for the creation of Internet celebrity IP has been added, which is something that was not in the previous territory, so what is the change it brings?
The biggest change is the shift from a single engine to a "1+x" engine.
Judging from Dong Yuhui's live broadcast data, Dongfang Selection's net profit is 971.3 million yuan, and the annual GMV (total merchandise transaction) of goods will reach 10 billion yuan, and Dong Yuhui's total amount of goods accounts for 50% of Dongfang Selection's overall cargo quota.
If Dong Yuhui is called the "big speaker" who sells goods, then he must be the most colorful and attractive "big speaker".
However, big Internet celebrity IP is hard to find, in the atmosphere of entertainment public, knowledge can be described as a clear stream, from the current social state, it caters to more ordinary people who want to lie down but can't lie down and parents who want their son Jackie Chan/Jackie Feng, it is easier to become a popular anchor.
And the power of Dongfang Selection is not only the anchor, but also three key points:
- Create more offline characteristic fields (such as Jilin field, etc.)
- Partnered with JD.com/SF Logistics to improve user experience
- Plan self-built warehouses to shorten the time to users
2. Competitive product analysis
With the continuous improvement of the national economy, we can see that from the initial Xiaomi circle, to NetEase Yanxuan, and then to today's Oriental Selection, they are all stepping on the road of excellent products.
If it is only analyzed from the perspective of "strict selection", then its direct competitor is "Netease strict selection". We analyze from four perspectives: market positioning, product strategy, user operation and brand communication:
1. Market positioning
NetEase Yanxuan: Mainly positioned at the mid-end consumer group who pursue high-quality life, mainly young people aged 20-35, emphasizing the high quality, cost-effective and life aesthetics of products.
Oriental Selection: In the form of live streaming, it attracts consumers, especially user groups with high awareness of the New Oriental brand, pays attention to product quality and cost performance, and at the same time improves the user's purchase experience with the help of the interactivity of the live broadcast platform.
2. Product strategy
NetEase Strict Selection: Adopt the ODM model, directly connect with big-name manufacturers, eliminate brand premiums and intermediate links, and provide consumers with high-quality and cost-effective products. The product line covers many fields such as home, clothing, personal care, etc., focusing on simple, practical and comfortable aesthetic design.
Oriental Selection: Through the selection of high-quality suppliers and products, we provide consumers with high-quality and cost-effective goods. With live streaming as the main sales method, with the help of the influence of anchors, increase product sales and brand awareness.
3. User Operations
NetEase Strict Selection: Through big data analysis, we can accurately locate target users, and improve user stickiness and repurchase rate through personalized recommendations, membership systems and other means.
Oriental Selection: With the help of the interactivity of the live broadcast platform, establish a good communication and trust relationship with users, and attract and retain users through the personal charm and professional knowledge of the anchor.
4. Brand communication
NetEase Yanxuan: Enhance brand awareness and influence through diversified online and offline marketing methods, such as cooperative promotion, self-media operation, KOL cooperation, etc.
Oriental Selection: Through the wide dissemination of the live broadcast platform and the deep binding with the New Oriental brand, the brand influence and user awareness will be expanded.
To sum up, NetEase Yanxuan and Dongfang Selection have their own focus in four aspects, and they are both striving to provide consumers with high-quality and cost-effective products and create a good shopping experience.
Judging from the live broadcast of New Oriental some time ago, NetEase's carefully selected products are also sold in the live broadcast room, which shows that the two are both partners and competitors.
3. Future analysis
Oriental selection is Yu Minhong teacher in the double reduction policy, the establishment of the live broadcast e-commerce company, he experienced the New Oriental stock price plummeted 90% of the situation, learned from the pain, choose and new agriculture, rural revitalization combined with the new model, from the current point of view, this track can go at least 20 years.
1. The development track of new agriculture is limitless
How wide is this track exactly?
From the perspective of national policy, agriculture is the basic industry of the state, and it is also an area that the state focuses on supporting and developing. With the promotion of agricultural modernization and the implementation of the rural revitalization strategy, the development potential of agriculture is huge.
From the perspective of health needs, with the improvement of people's living standards, the demand for high-quality agricultural products is growing. This provides a broad market space for the branding and high-end of agricultural products.
2. With agriculture as the core, gradually spread the category outward
As a listed company that has gone through ups and downs, in the matter of bringing goods, Dongfang Selection's ambition does not stop at agriculture.
In addition to the main accounts, Dongfang Selection has four vertical accounts. Including Oriental Selection's books, Oriental Selection's self-operated products, and Oriental Selection's Beautiful Life, a live broadcast matrix covering books, agricultural products, beauty and clothing, cultural tourism and other multi-dimensional consumption scenarios has been formed.
This not only solves the problem of simplification of agricultural products and performance growth, but also provides fans with diversified high-quality services.
3. The "knowledge dissemination" content of positive energy
Let's use an example of Dong Yuhui selling rice to see the power of knowledge to create an atmosphere for selling goods.
was "exclaimed" by netizens and commented as "I only wanted a bag of rice, but he gave me the whole universe".
Then this rice has been dominating the top three in the Oriental Selection, and the sales in the live broadcast room have reached an astonishing million bags.
This kind of moat can be called the "dimensionality reduction attack" of the live broadcast e-commerce industry, and over time, it will have a compound interest effect.
In the future, the "tickle and eye-catching" live broadcast atmosphere will no longer work.
IV. Final Words
New Oriental has experienced seven major crises, and it can be self-consistent and flexible. It is inseparable from Lao Yu, who has a more positive heart.
I think it is a blessing in disguise to experience the "small essay incident" of Dongfang Selection, and the situation it has contributed to is the "1+x" live broadcast model, which will play a huge role in the future.
Writing here, I suddenly found that Dong Yuhui's situation may not be a minority in the enterprise, but the majority of those who jump ship because of the unequal value creation and income.
They have to seek a salary increase by changing jobs frequently, because there is a rule in the workplace that "employees have the right to speak when they are not in the company, and after they enter, they can only be at the mercy of the company." ”
I believe that through this incident, this law will slowly change: from the employment system to the partnership system, all employees are cooperative, and the fair distribution of more work and more rewards will be realized, because only in this way can the enterprise have a future.
Hope it inspires you a little, come on.
Author: Liu Xing talks about products, public account: Liu Xing talks about products
This article was originally published by @柳星聊产品 on Everyone is a Product Manager. Reproduction without permission is prohibited.
The title image is from Unsplash and is licensed under CC0
The views in this article only represent the author's own, everyone is a product manager, and the platform only provides information storage space services.