WeChat e-commerce, this year’s KPI

In the wave of digitalization, WeChat e-commerce, with its unique advantage of private domain traffic, is becoming a new engine for corporate growth. Just as Amazon once used the number of stores as the "North Star Indicator" of its growth flywheel, the number of WeChat stores is also becoming the key to measuring the prosperity of its e-commerce ecosystem. In 2024, the KPI of the WeChat e-commerce team focuses on the growth of the number of stores. This is not only a numbers game, but also a profound change in the interaction between traffic, private domain and public domain.

Hi, bosses, I am Da Yu. The WeChat e-commerce team's KPI this year should be the number of WeChat stores. I am just guessing, and any similarities are definitely coincidental.

A few years ago, I interpreted "Growth Hacker" and found that Bezos described his growth flywheel in the growth history of Amazon.

This flywheel has a "North Star Indicator", which is the most important growth data.

For a long time, Bezos set this indicator as: the number of stores.

In other words, as long as the number of Amazon merchant stores increases, this gear will start turning, ultimately driving the growth of all indicators.

The same is true for WeChat e-commerce at this stage.

The number of effective WeChat stores should be the North Star indicator for the WeChat team this year.

For merchants, the opportunity has come, two points to think about:

1. Why is the number of small shops so important?

2. What tricks can merchants use to reap the benefits?

one,

There is no need to mention the ecological niche of WeChat stores again and again:

It is the transaction base where all traffic nodes of WeChat are concentrated for monetization.

In other words, the money earned by the WeChat e-commerce sector is all earned from small shops.

So it must become the focus of work, how should it be promoted? In fact, the WeChat e-commerce team has thought of many ways.

1. Improvement of various marketing functions, especially the hidden coupon function mentioned earlier, which is to attract the merchant's existing private domain customers to the small store to make transactions.

2. Private domain incentive plan to attract transactions from private domains to small stores.

3. Remove the pre-deposit and change it to a post-deposit floating deposit to lower the threshold for opening a small store;

4. Remove the entry threshold of the priority alliance and 4.2 points + activate freight insurance.

…

Moreover, one business license can be used to open up to 30 small shops.

Anyway, everyone is welcome to open a shop!

Everyone come, the more the better, come quickly!!

Then why has the number of small stores become the core indicator of KPI assessment?

1. The WeChat ecosystem has sufficient traffic and no shortage of traffic, so traffic is not an indicator.

2. The transaction volume of WeChat private domain is also very large, several trillion, so there is no shortage of transaction volume;

All we need to do is increase the number of stores opened effectively. As long as merchants are willing to do business in small stores, the platform will pull the traffic within the private domain into the platform.

If there are public domain incentives, merchants can also bring in traffic from outside the site, such as offline traffic, such as traffic originally from Jingtao and Douyin.

By deduction, its growth flywheel is:

The more small stores there are, the more private transactions they will bring in;

The more private transactions there are in the market, the more public traffic the algorithm will give;

The more public domain traffic there is, the more merchants will invest in small stores;

Then the merchant will bring in more off-site traffic into the store;

Then the entire WeChat e-commerce sector will be able to grow positively.

The more stores you open, the more private, public, and off-site traffic will flow in, and all the data will improve.

two,

Since the number of stores opened is important, how can businesses outperform the market and achieve excess growth?

1. Thoroughly understand the linkage between public and private domains, and maximize the role of converting private domain into public domain.

First of all, I advise you not to try to fight against the platform, it is futile.

In addition, even if you place private domain users in your store or video account for transactions, they will not be lost, and it will still be your private domain.

It also helps you improve the credibility of your store and attract new public domain traffic.

There is no need to panic. The so-called private domain does not rely on your information gap to block users, but relies on your high-quality services and users' trust.

If the user doesn’t trust you, then it is not your private domain.

2. Store matrix, wash traffic from multiple stores.

The store group strategy has become a common practice on Taobao and Douyin. Store clusters are essentially a way for shelf e-commerce to wash ranking traffic and search traffic.

Is there such a way to play in the WeChat ecosystem? Yes, it can.

1. WeChat has already opened a traffic channel for "small shop" in the search function.

2. When searching within the video account, there is also a traffic entrance for "Shopping" and "Account", especially the "Shopping" entrance, which will import products in the second column of the search homepage.

This has already formed shelf traffic, that is, if you occupy enough keywords in a category and have enough stores, you can get more public domain traffic.

In addition, there is another very important point about the store group model:

1. Prevent account blocking and share risks;

2. Link different stores to different influencers and make different product pallets;

The bonus is to go with the flow. All actions are directed towards the KPI being the number of stores, which is potential energy.

So just focus on this point and you will definitely outperform the market and reap the dividends.

Of course, the most crude logic,

It's like raking grass to catch rabbits, great force will make miracles happen!