started construction, Jianshi visited some private domain benchmark brands. In addition to reviewing the private domain strategy in the past year, he also focused on talking about the new direction of 2022. Chao Acer is one of the benchmark brands.
Chaoac Jewelry private domain users are 9.6 million+. The two private domain live broadcasts I did last year have GMVs of 60 million+ and nearly 80 million respectively. Such powerful live broadcast sales data are rare in the jewelry industry. Tencent Smart Retail also calls it a benchmark case in the jewelry industry.
Not long ago, Chao Acer CMO Lin Peixuan also shared it at the Jianshi annual private domain conference in December last year. After the meeting, many users wanted Chao Acer's PPT and hoped that it would share more information. This year, Jianshi happened to make an appointment with Lin Peixuan again and chatted with her for more than an hour. She mentioned that after Chao Acer's private live broadcast was started, many brands would ask how to do a good job of live broadcast.
Single from the perspective of live broadcast, it is nothing more than choosing the right product and designing the activity of traffic organization and live broadcast room. However, the corporate culture, organizational structure, execution, and management and control capabilities from the headquarters to the terminal behind the live broadcast are by no means a single moment. These all determine whether the brand’s private domain can be solid. Only brands with solid enough private domains have the opportunity to explode on live broadcasts. Every brand should choose to explode quickly at the right node. If you have to follow other people's gossip, sometimes it may be counterproductive.
In addition, she further answered the three major strategies of private domain live broadcast, the three differences between private domain live broadcast and public domain live broadcast, the reasons and background of choosing senior executive teams to do live broadcast, the impact of private domain on Chao Acer's organizational framework, and the goals and new plans for 2022. Now let’s use the text transcript to return to the deep chat site to see why Chao Acer has the opportunity to achieve rapid explosive growth in private live broadcasts. As follows, Enjoy:
Chao Acer CMO Lin Peixuan
Last year, Chao Acer did two private domain live broadcasts: the first one, on March 25, as the first in the industry to not invite a celebrity anchor, the new product launch conference was made into a private domain live broadcast, with a GMV of over 60 million, nearly 10 million interactions, and 1.2 million views; the second one, on June 17, the spokesperson made its first private domain fan live broadcast, with a GMV of nearly 80 million, an interaction volume of nearly 6 million, and 120W views.
This data is not only in the jewelry industry, but also in the entire category and industry last year. In fact, the decision-making link of jewelry categories is not short, and only if private domain operations are done more solidly can you have the opportunity to do it.
Not every live broadcast pursues high GMV
Usually, we will judge whether a live broadcast is good or not, and we will look at three key data: one is GMV; the second is the UV (number of people) and PV (number of people) visited by users; and the third is the number of coupons sold and the later conversion rate. However, not every live broadcast pursues a very high GMV. For example, some live broadcasts want to sell high-end jewelry. The GMV setting for a single live broadcast is not high, but it needs to be sold more in our store in the future, because this kind of high-end jewelry values the user's live experience more.
Around these three key data, we have explored three effective strategies in the past few live broadcasts:
1. Traffic acquisition strategy:
On the one hand, each invited old private domain users through store shopping guides. Last year, the actual proportion of users who entered the live broadcast room through shopping guides reached more than 80%; secondly, they cooperated with live broadcasts to add new users to public domain advertising, and constantly explored the delivery model and path suitable for Chaoac live broadcast. Last year, the CTR (conversion rate) of live broadcast advertising reached a maximum of about 4.5%, with an instant ROI of 1:3.5; and a maximum ROI of 1:14 in 90 days.
2. Product selection combination strategy:
Good products are the prerequisite for all marketing. We will combine different festival themes, monthly sales tasks, and user needs for each live broadcast to configure different product selection combinations.The effective product selection combination of
can be summarized into three types: one is a product with brand imprint, because each live broadcast is not only a sales scenario, but also a scene of in-depth communication with users at a time, so users will know the design, craftsmanship and meaning behind each product, even if it does not contribute much to sales in the end. Only by allowing users to better understand the brand and then recognize the brand can they feel that the products they buy are worth the money; second, select goods with strong trial sales at the current time nodes based on the live broadcast time node, which is the main source of GMV and profit; third, select a limited number of traffic items to be invested in public domain advertisements, or allow thousands of offline shopping guides to invite customers to watch live broadcasts with this highlight. This product focuses on high cost performance and is not for profit.
3. Atmosphere activation strategy:
The quality of the live broadcast atmosphere is the most intuitive feeling to users, and it is also the leverage to leverage consumers' emotional points and brand growth. I share an interesting situation. Once, the live broadcast sold the goods clearance style, but not only did it sell out directly, but it also started selling pre-sale links at the call of users, and sold a model that was about to be eliminated into a big hit. Because the clearing of goods actively gives users the price, coupled with the status of the anchor when introducing the product, and the emotional infection during the interactive comment process, everyone continues to rush to buy
Picture source: Chaochengji Jewelry
Private domain live broadcast is completely different from public domain live broadcast
In fact, we are also doing public domain live broadcast simultaneously. Whether it is the average customer price or the return rate, we will find that private domain live broadcast has very different characteristics from public domain live broadcast.
first. Judging from the average customer price, private domains have a better chance to sell high-value things. The average customer order for private domain live broadcast is basically the same as offline customer orders, both of which are around 4,500 yuan.
For example, the highest single product sold at the 325 new product launch conference last year was a filigree veil worth over one million. In addition, private domain live broadcast not only sells products, but also sells card coupons, guiding users to enter the store to consume, and thus driving thousands of shopping guides across the country to sell goods and increase sales by tens of millions. Therefore, we not only focus on the live broadcast GMV, but also on the sales driven by the live broadcast in the second half of the month.
Second, the return rate is very different from public domain live broadcasts, and the return rate of private domain live broadcasts is only 2%.
Third, there are big differences in key users.
From the perspective of user portraits, most of the users of Chao Acer are married ladies born in the 1985. They pay attention to fashion, health, sports and fitness and knowledge information. They like to travel and love food, but they also pay attention to body management and pursue beauty from the inside out. They either have their own careers or are working women. When they achieve small achievements in their work and life, they will buy jewelry to reward themselves, and use them as daily fashion matching. Many private domain users are old fans of long-term daily maintenance. Their orders are based on their trust in the brand, recognition of product technology, and a certain sense of cultural belonging.
For example, in the later summary, why can you sell high-customized veil jewelry worth over one million on live streaming? In fact, it is not that the customer is simply connected by the anchor, but first of all, this customer is a veteran invited by us after communication and research. Secondly, the user's daughter is going to get married and has a certain purchasing motivation; finally, it is because this high-priced customized jewelry will not appear in every offline store, but with the help of live streaming, you can introduce the creative inspiration, craftsmanship, cultural and artistic value, and collection value behind this product, and then let the user decide to give it to his daughter as a gift from the family inheritance.
Image source: Chao Acer Jewelry
Private domain live broadcast is an explosive output after centralized traffic management
Why does Chao Acer have the opportunity to explode in private domain live broadcast? The most important reason is not just how good the live broadcast room is, how good the organization is, and how beautiful the traffic is. This has to return to the bottom layer of the operation of the entire private domain, that is, it has been reflected in the direction of private domain accumulation for many years.Just like the tip of the iceberg on the sea, the focus is on the solid foundation under the iceberg, and our firm foundation is the digitalization of private domains.
Since 2015, Chao Acer has begun to build digital projects, including opening up the application architecture of the front, middle and backend, as well as opening up the management data of the product data and the entire supply chain. The overall backend is in a downward direction, such as centralized management, layering, cleaning, etc. on the CDP platform. As for daily private domain live broadcast, it is not the most difficult thing to get shopping guides to gather users into the live broadcast room. The difficulty is the front-end and back-end, including the sharing of inventory and the entire domain information, as well as how to digitize people and goods, and the digitalization of customer needs and goods.
In the past, the underlying logic of traditional retail was people and goods yards, and it was difficult to find the specific reason for whether the sales were good or bad. In 2019, after completing the digitization of the entire front-end goods and customer information, we began to manage stores with digital thinking, that is, using traffic formulas to require regional general managers, regional general managers, store managers, and clerks to complete every day, how much sales the sales have, how much traffic composition the sales have, as well as corresponding key data such as conversion rate, unit customer price, and repurchase, and then decompose sales targets into dimensions such as product categories, new and old members. Check the reasons for poor store business, you can see whether there are problems with traffic or conversion, customer unit price, repurchase, etc., so as to solve it more targetedly.
Image source: Chao AG Jewelry
Private domain digitalization subverts the past management model
The establishment of a digital context also directly subverts our previous management model. First, the headquarters must think clearly, and secondly, it must pass this context to the clerk with a very simple tool. It took about two years, and the epidemic has accelerated our entire pace.
19 to the beginning of 2020, the epidemic situation is "more than more danger" for Chao Acer. Because the Spring Festival and Valentine's Day are important sales nodes in the jewelry industry every year, basically accounting for 1/4 of the annual sales. However, due to the epidemic, 1,000 stores across the country were forced to press the pause button. In order to deal with these two major sales nodes, they prepared a lot of goods in advance, resulting in tight funds, but they were unable to open business.
I remember that on the third day of the Lunar New Year, the five senior executives of the company held their first online meeting. On the fourth day of the Lunar New Year, they led their respective backbones to form a temporary combat force and began to deploy mini-program cloud stores with 1,000 stores across the country. It is precisely because the front, middle and backend applications that have been working for 15 years that we have laid a foundation for the underlying foundation that we have completed the launch of 1,000 stores across the country within two to three weeks, and it is a one-store and one-cloud store. The goods and inventory on the mini program cloud store have been one-to-one.
Now it seems that digital operations can go smoothly, and a very important point is that the organizational structure has changed. The digital transformation team established on the third day of the Chinese New Year brought together several bosses of brands, users, sales, supply chains, and products into a micro-organization, breaking many departmental walls, and making overall decisions flatter and faster. This organizational structure is still operating today.
Moreover, Chao Acer's private domain live broadcasts are not inviting professional anchors from the outside, but the executive team takes turns to do live broadcasts. There are four main reasons for this design:
First, executives are most familiar with their brands, products, and users; second, after two years of exploration and trial and error, our live broadcast is actually more like a home chat between the brand and the user. Therefore, although the executive team does not have the professional skills of anchors, they understand better what users want and are closer to user needs; third, executives can make shopping guides more familiar, and they can also come up with more reasons for direct recommendations when inviting users; fourth, it is difficult for companies to find an anchor who can be bound to the company for a long time and can occur on the platform anytime and anywhere. It is better to pick people from the inside, and it is easier for executives to appear as official identities to gain user trust.
Image source: Chaoac Jewelry
Shopping Guide is a key node connecting 9.6 million private domain users
Chaoac's entire private domain users are about 9.6 million, and the shopping guide is a key node connecting these users. Currently, we have 1,000 offline stores and 8,000 store shopping guides, but their culture and cognition are uneven, so we did a few things:
First, set a benchmark first. Whether all shopping guides accept private domains or not, the underlying demand must be to sell good goods and get higher sales to get higher commissions. This is human nature. So we plan, set benchmarks and preach based on this point. When we were doing the first phase of digital transformation, we chose four stores. Each executive team would stay in these stores for a week to observe the store’s customer flow and have in-depth exchanges with the clerk and store manager. These four store managers later became the first batch of store mentors, and they then took other stores step by step.
The second is to promote the supporting corporate culture, so that everyone can finally recognize this method and naturally form an inertia. The original plan was to gradually advance among 1,000 stores in half a year, but when the epidemic came, it was necessary to quickly transform digitally and open cloud stores, otherwise there would be no sales opportunities, and the entire promotion time was directly shortened to half a month.
is to establish an internal learning platform and change the training methods. In the past, I used to send emails to train. The distribution efficiency was very high but the training effect was very poor. Everyone basically didn’t watch it, or the headquarters sent people to the area for training, but the number of times was very limited. The learning platform established later will be conducted with a fixed time period every week for live broadcast training, and every month, store managers with good performance will be invited to the live broadcast room to share excellent experiences. One of the most extreme cases is that a store on the streets of a third-tier city was already on the verge of bankruptcy, but in the end, after using the training operation strategy, sales increased 3 times.
In fact, when training for shopping guides, the most difficult point is the level of consciousness. Because the shopping guide is just an ordinary sales employee, all his previous focus was on goods, and it was very difficult to suddenly change his mind from goods to traffic thinking. So we will tell him that no matter how good the goods are, no matter how good the goods are, it is useless, but no matter how good the goods are, it is useless if the customers don’t match them. Now, you need to dismantle the labels of the store users in order to diagnose the specific status and customer base of the store, and thus return to product matching. This can also make the entire company's large inventory more efficient. For example, stores with large customer flow should pay more attention to new products; stores with large traffic should not be particularly large, and stores that do well repurchase should focus on old customers.
Image source: Chaoac Jewelry
2022 new direction
2022, we must focus on selling goods on mini programs. In addition to centralized traffic management, we must also make daily sales data on mini programs more stable and beautiful through refined private domain operations.
Secondly, optimize the traffic structure and further expand the proportion of private domain traffic. Because last year, the traffic invited by the shopping guide actually accounted for more than 80%, but it is impossible for these old users to pay for it forever. At present, the current product structure, price, and subsequent operation and maintenance have formed a relatively complete system. As for whether it can be doubled or doubled, it depends on the quality and quantity of the equipped resources.
This article is original by @正娱乐, operating meow columnist.
or above is all the content shared in this issue. For more Internet operation knowledge, please pay attention to Operation Meow.
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