Douyin's life service definitely has growth opportunities and is worth studying and investing in. The key is not the strategy, but the implementation strategy. Taking Happiness Cake as an example , I talked with their Douyin operator Baer and summarized a few key points to share with you. Let me start with the background. Xingfu Cake has multiple categories, with cakes being the largest, with annual sales of nearly 1.5 billion. It has more than 300 cities and more than 500 stores. On Douyin, it has achieved a GMV of 200 million, ranking first in the cake category. I have summarized several key points for their success in the Douyin life service track: 1. There must be someone who understands it internallyXingfu Cake has a good cooperation with the platform. They have been involved since Douyin started to provide life services. They are the first to try out many new functions and models, including Douyin's mini-programs, as well as the internal and public beta tests of the entire closed-loop chain. They entered the market early and had a high degree of cooperation, so they were able to get platform dividends. During this stage, Xingfu Cake quickly grew from millions to tens of millions of GMV. Everyone wants to benefit from the dividends. When Douyin was just starting out, other brands also joined in, but when they didn’t see any results, they withdrew. Then why has Happiness Cake been able to continue to operate and reap the benefits? The key is someone who understands, namely Baer. He used to be a commercial product manager at Tencent and has a deep understanding of traffic logic. In addition, they are all people from the Internet industry, and their discourse system is consistent with that of Douyin, so they can communicate and cooperate seamlessly. In the early stages when we haven’t seen results, we can predict future trends because we have people who understand. We won’t panic, nor will we make decisions blindly. Some bosses in traditional industries, because they don't understand this field, choose to cooperate with relatively inexpensive agents and are deceived into making heavy investments at inappropriate times. If you lose money, you will lose trust in people and things and will not invest again. 2. The more POIs, the greater the advantage for merchantsDouyin is called life service, and Meituan is called local life. They are the same thing and both have LBS attributes. Whether it is user demand or the traffic conversion efficiency of the live broadcast room, the more POIs there are, the better the sales effect will be. This is a simple truth. As mentioned above, Xingfu Cake has stores in more than 300 cities and more than 500 stores, which gives it an advantage in this regard. 3. Make hot productsDouyin is an interest-based e-commerce platform where goods find people. People do not have clear demands when watching videos. Meituan is the opposite, people are looking for goods, and there are clear needs. Therefore, if you want to increase the success rate of goods finding people on Douyin, you have to create hot products. In other words, this single product can interest as many users as possible, so that the GMV ceiling is high and the conversion rate can be increased. Several characteristics of hot-selling products: high brand awareness, high cost-effectiveness, low verification threshold, and current popularity. Xingfu Cake has continued to work hard on its hit products, which meets most of the above characteristics of hit products and has achieved results. In addition, their average order value is relatively low, which is also the reason why they sell well on Douyin, which meets the characteristics of the platform. 4. Helping platforms to make up for their shortcomingsWhatever platform you are on is your boss. If you hold on to it, your growth will definitely be faster. Who does the platform prefer to hug? Someone who can help them achieve their goals, or someone who can make up for their shortcomings. Douyin's life service business is divided into store delivery and home delivery. In the home delivery business, delivery is Douyin's shortcoming, which cannot be solved in the short term, so it can only find partners. Brand merchants with delivery capabilities are Douyin’s favorite partners. Such merchants can deliver by themselves, handle problems arising from delivery, and are in the same process as the business, providing a better experience. At the same time, they also have demands on Douyin, forming a win-win cooperation. Xingfu Cake is such a merchant with delivery capabilities. 5. Improve transaction conversion in live broadcast roomNot only life services, all live broadcast rooms that sell goods need to do this well, and even all short video platforms generally follow this logic. Simply put, it is five dimensions and four rates. Five dimensions: number of people exposed to the live broadcast room, number of people entering the live broadcast room, number of people exposed to the product, number of people who clicked on the product, and number of people who traded the product Four rates: live broadcast room viewing click rate, product exposure rate, product click rate, product transaction rate 6. Choose effective influencers to work withIn addition to brand self-broadcasting, Dabo can also do it. Cooperating with top influencers is not only for GMV, but also for benchmark cases, and mid-level influencers will follow suit and sell on their own. Regarding the choice of experts, Happiness Cake’s experience is simple and direct, and consists of two steps. The first step is to select talents according to the data and invest in all of them. The second step is to select talents with good data and cooperate with them repeatedly. That’s all. There is another reason to be interested in Douyin life services. Recently, several clients have approached us, all of whom are involved in this field. After communicating with them, we found that there are still many opportunities, especially in traditional industries, where there is a lot of room for exploration. Author: WeChat public account: Operation Dog Work Diary (ID: yunyingriji) |
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