Behind The Transformation: Zhang Dayi Can Not Become Li Jiaqi.

According to NASDAQ:RUHN, the latest accounting results, under non GAAP earnings of 2 million 480 thousand, though not many, but finally achieved a single quarterly profit in the eleven quarter.

Another title of the company is "China net red electricity supplier first share", listing half a year, need to prove the company's continued profitability, to a large extent, such as the performance of the company, will affect the valuation of the capital market and other Internet red business companies.

Since 2015, content providers have been innovating almost every year, and the areas of concern are not quite the same each year. But up to 2019, the key word of Han is still the net electricity supplier. There are not many breakthroughs in the growth of new traffic platforms such as jitter, fast hands and other new platforms.

Why didn't the earliest listed company become the modest search of Wei Ya? Why did it start to slowly peel off this part of business and transform the platform mode?

01 Transformation: proprietary mode to platform mode

Like Q2, there are several core data: total transaction volume (GMV) is 924 million yuan, an increase of 32% over the same period, of which 460 million 400 thousand yuan is self operated and 464 million yuan is platform mode.

The number of net red signed increased from 133 in the last quarter to 146, mainly in the waist net. The number of head remained 3, the shoulder net red increased by 1 to 8, and the waist net red increased from 92 in the same period last year to 135.

According to the division standard, over the past year, more than 100 million of GMV has been created, that is, the head; 30 million to 100 million, the shoulders; and less than 30 million belong to the waist net red.

Net income was 273 million yuan, of which service income increased by 85% to 64 million 800 thousand yuan, and transaction income was 207 million 900 thousand.

Several characteristics can be seen: the GMV created by the platform mode has gone beyond the self run; the number of red net in the waist network has increased sharply; the income of platform services has increased rapidly.

This is the answer to the outside world, such as culvert transformation, from self transformation to platform.

Explain the difference between proprietary and platform models first.

Self run shops, such as shops, supply chains, logistics, customer service and so on, are completely controlled by stores, such as opening stores, supply chains, logistics and customer service. Head KOL Zhang Dayi's Taobao shop "my happy Wardrobe" is a typical self run mode.

According to the author's understanding, at the end of 2017, the culvert began to explore the transformation from platform to platform. From the earnings data, the number of self operated stores in June 2018, September 2018, March 2019, June 2019 and August 2019 were 33, 25, 14, 11 and 7 respectively.

The self operated store has been greatly reduced since last year, compared with 25 last June.

The biggest difference between platform mode and proprietary mode lies in who will solve the problem. Because the cost associated with goods is very high, shopkeepers need to face various pressures such as inventory. Taobao's 7 day no reason to return goods, the problem is that, like double 11 so every large-scale promotion, clothing owners will face high frequency returns, if you can not carry out two sales, goods can only become stock.

On this basis, there were also a group of customers who bought clothes for 7 days to return them.

Platform mode is out of the pressure of goods. Such as its own advantage is net red hatching, through a large number of middle waist net red, undertake brand advertising or cooperate with third party shops to sell goods.

"Bulk" hatching of the middle waist net red, although most of it is difficult to become Zhang Dayi, but can also contribute a certain amount of income every year, and with the expansion of the scale, the overall income is also rising.

In the early days, most people looked forward to the net red business. The net red passed the influence of personal IP and sold products to her fans. Theoretically, every net red can own at least one self run store.

However, according to the internal disclosure, if a net red shop does not make 50 million of GMV a year, the entire tax cost, labor cost and supply chain cost are very high, and there is almost no profit margin. In addition, the women's wear raceway is already very crowded. Many times, the premium space of the net shop is not large.

Although the middle waist net red has a certain influence on the vertical track, 50 million GMV is still relatively high requirement for many people.

Platform mode is indeed a more suitable choice for companies who have been doing content production and net red incubation for a long time.

02 why is it not the earliest to start live broadcasting business?

Good at hatching nets, such as Han, did not focus on the field of live telecast.

Before the live broadcast of the electricity supplier, a large number of MCN agencies mainly focused on graphics and short videos to help the anchor build IP. Institutions can increase the overall strength of MCN by signing contracts or incubating them. Most of them hope to enhance their strength in a short time.

There is a saying that 2016 is the first year of live broadcast, and 2017 is the first year of short video.

Before and after 2017, major companies are still pushing their short video platforms frequently, trying to seize the short video market at the beginning of the outbreak. MCN, a supplier of this kind of content, has become a professional institution that preempted cooperation among major platforms.

But after two years of fighting, the short video platform has been set, and the head is left with a quiver and a quick hand. A large number of MCN agencies are also mainly realized through advertising business.

There are also personal bloggers who have been tied up with the electricity business from the very beginning.

For example, Zhang Da Yi. She debuted as a model in the early years, and began to introduce new products with short videos in 2014. From her beginning, many young girls with netting properties began to share personal experience in social media, and a new Taobao store, nethong store, was born. Net red shop creatively moved the clothing shooting place to the outdoors, and used the social media platform to subvert the practice of traditional brand marketing.

By 2016, double eleven, Zhang Dayi's shop rushed into the category of Taobao women's clothing second, trading volume of 100 million. At the same time with Zhang Dayi's rise, there are Sydney, ANNA, Momo and other traditional red nets.

Such as Han has been walking in the net red business road.

But there was another casual episode. In March 2016, the live broadcast of Taobao was officially launched. But at that time, almost no one believed that Taobao's live streaming would become a draught for 3 years later.

In 2018, Wei Ya and Li Jiaqi began to receive the attention of the outside world. In 2019, the ability of the head anchoring to carry goods has gone up to a higher level.

Echoing Taobao's live broadcast is quick live broadcast. The fast sellers also broke out during the double eleven this year. The net red Simba of the head takes 4 hundred million of the goods in the two day of the selling Festival.

To put it simply, the outbreak of net Hong electric business was in 2015 and 2016. In 2017, the network red business providers and the live broadcast business providers were at the stage of development. In 2018 and this year, most of the attention shifted to the live providers, but in fact, both sides did not stop development.

Zhang Dayi, who was the core of the early stage, did not have the extra energy to switch to the live electronic business track.

Zhang Dayi himself tested the water live in 2016 and got good results. In June 20, 2016, Zhang Da Yi Taobao broadcast two hours, sold 20 million of the goods, the guest price is close to 400 yuan.

However, this mode has brought great pressure to her. In 2017, Zhang Dayi said in an interview with the Economic Observer newspaper.

"A little tired", "the long live broadcast mode will cause everyone to have an aesthetic fatigue. I think after 12 years, this mode will change, because the conversion rate of live broadcast is decreasing."

Zhang Dayi is actually relying on micro-blog based social media to import traffic into Taobao. This means that she has to produce content on other platforms, and in order to maintain new monthly clothing, she must put more energy into the cargo terminal.

From the situation of big net red shop, almost no head bloggers are turning to live broadcaster completely. Direct broadcast is only a tool used for some special promotion festivals. Daily maintenance mainly depends on hiring other anchors.

In the case of "self operated network", it is not enough to have direct access to live broadcasting.

03 can not become Li Jiaqi and Zhang Dayi at the same time.

We have written in the "survival rule of Taobao's little anchor". In 2019, individuals wanted to get the traffic and fans through hard work.

These anchors spend more than five hours a day, promoting them very hard in the live broadcast room. The existence of the supply chain helps these anchors solve the problem of goods. But even so, there is almost no personal time to accumulate fans from scratch.

There is an important dimension in the competition of live broadcasting, especially in Taobao's system.

Li Jiaqi and Wei Ya, after the long live broadcast accumulation, ushered in the outbreak. One difference between them and Zhang Dayi's net red is that the function of the live room is mainly to carry goods, and Zhang Dayi sells his own goods.

In view of the analysis of direct seeding electricity providers, many will mention that the big anchors with goods have very strict quality requirements for commodities. For example, from the hundreds of items, three or four pieces of merchandise were finally selected to enter the studio.

Only when the anchors have a strong ability to carry goods will they have the ability to choose high quality products and negotiate space. This is the competitiveness of the live broadcast of the big anchor.

But from another perspective, if Li Jiaqi and Wei Ya are going to bring the goods they produce, is it feasible?

But selling itself is not the main business of the company.

Once the anchors are transformed, they will lose their core competitiveness with their own products. In the past, we selected a few of the best quality brands from a batch of mature brands and put them in the live room. Now, once transformation is made for itself, there will be no room for "picking", and even a competitive relationship with the business's own live broadcast.

In addition, even if the fans of the live room purchase, the anchorperson also needs to face greater inventory pressure, which is another test for the anchor.

Mature brands have a more complete way to deal with inventory. But many small businesses in Hangzhou are likely to have an impact on the operation of the whole company because of one inventory. In particular, high unit price goods, the return rate is slightly higher, it will cause huge losses.

So, Zhang Dayi and Li Jiaqi, Wei Ya, to some extent, did not compete in the same dimension.

It's impossible for via to do proprietary products in the studio. Li Jiaqi does not have his own brand for the time being. Even without the supply chain, it is even more difficult to shift from goods to self operated network. With Li Jiaqi's current traffic and influence, there is no need to make such a risky but not necessarily high return transformation.

Therefore, it is difficult for Zhang Dayi to become Li Jiaqi and Wei Ya, and the latter two will hardly become Zhang Da Yi.

04 what did the cult miss?

Faced with multiple queries, the transformation began. The transformation from self to platform is not a failure, but it is still the original story.

According to the culvert aspect, the company will organize interviews nearly 800 people every month, pick out about 3-5 people, and carry out specialized hatching. Incubation time is close to half a year.

A year ago, a staff member at B station found a new blogger, Han Na, who only updated one video. Han Na positioned herself as "chubby", "Maiden" and "Chuai", which are relatively rare in the market. If you get in touch with Han Na, sign Han Na to become a full-time anchor.

In the first half of the year, the focus of Han Na was mainly content production. The channel was dominated by micro-blog and B stations, with almost no personal income. In accordance with the consistent practice of the company, the company will spend a lot of time in the early stage to help the bloggers to set up their own businesses.

At present, she has 900 thousand fans on micro-blog, and has 200 thousand fans at B station, earning 6 digits per month.

For Han Na, the transformation from ordinary white-collar workers to Internet Hongbo owners is a very successful transformation.

But for Han, this is an old road. Such as culvert started in the position of micro-blog, late hatching waist net red, also mainly based on micro-blog grass grass net red. From a quantitative perspective, such as the familiar dimension, it is good at incubating anchors, and there is also a methodology that can be replicated. In the field of MCN, there are not many organizations that really have the ability to incubate. Most of them rely on the direct anchors who have become famous.

Around 2017, the short video MCN agency also experienced a large-scale expansion stage. The more bloggers, the higher the value of MCN, the more traffic they have.

Facts have shown that the anchors are not well cultivated. First, the company needs to pay a relatively high cost, the training cycle is relatively long, the general small companies, no way to bear. Secondly, whether the medium and small anchors can become head anchors are very lucky. So when the institutions realized that the cost and time of incubation were relatively high, they began to narrow the scale of recruiting people and continue to focus their efforts on big anchors.

As Han did not notice, outside micro-blog, jitter, fast hand, Taobao live broadcast, inadvertently became the most profitable three traffic channels. Jitter is good at planting grass. It is the most popular advertising channel for the brand. Fast hands are good at bringing goods. Many unknown agencies rely on large numbers of small and medium sized goods carriers to become giants in the vertical field. Taobao broadcast the most special, such as Han and Ali closely related, theoretically speaking, it should be the first to capture Taobao live business.

But until now, such as outside micro-blog platform, there is no outstanding performance. Although there have been reports earlier, such as the quick layout of the layout, it has become an official business service provider introduced by the government, but perhaps it is not a good match for tonality, or it has not found the most appropriate way to play fast business.

After transformation, we may need to pay attention to it.

The results showed that the growth of the waist web red was fast, but the shoulder and head never changed much.

Anchors from the vegetarian to the waist are relatively easy stages. From the waist to the shoulders, the difficulty of shoulder heading toward the head is far greater than the hatching of the base. The problem of horizontal anchoring of the waist anchors is that while the income increases, the cost of incubation is also rising.

The increase in income generated by the growth of the number of anchors is not a story too imaginative.