My Fintech Empire

Yu Chenliang took out the plan and handed it to Fang Hong. The latter took it over but did not open it directly.

This detail let Yu Chenliang know that the big boss wanted to hear from him personally whether he was really working hard. After a while, Yu Chenliang said: "In recent years, with the spread of mobile 4G networks, short videos in the mainland have The market has entered a period of rapid development, many Internet companies have entered the short video market, and many short video products have emerged. Regarding the future development of Douyin, the project team and I discussed and summarized and finally formulated a three-step stage."

Fang Hong suddenly picked up the plan book on the table and opened it to browse. Yu Chenliang stopped when he saw this, but soon Fang Hong said without raising his head: "You do what you say."

Hearing this, Yu Chenliang nodded and continued: "The first stage of development is to focus on functional development and establish the product tone. Douyin has only entered the market for half a month, and the first thing to solve is market positioning. Our positioning is to focus on young people. Music short video community.”

“Currently, the biggest market competitor facing Douyin should be Kuaishou. Judging from the current market structure, Kuaishou, which was established in 2013, occupies the top spot in the current short video community. Kuaishou has developed into its second year. Its operation strategy has also begun to mature, and it has begun to appear frequently on major variety shows."

“In addition, there is Kuaishou’s popular MC Tianyou who quickly became famous with “Drunk by Drinking alone”. He has become the number one celebrity in Kuaishou with more than 10 million fans. With the dual support of popular variety shows and top-ranking celebrities, Kuaishou’s users The volume has exceeded 100 million, with 15 million daily users."

While Yu Chenliang was talking, he glanced at Fang Hong from time to time and found that he was silently flipping through the materials. He didn't know whether he was listening or not, and there was no response. Yu Chenliang was not sure, so he continued following his own train of thought. :

"This is the market competition environment that Douyin is currently facing. At the current stage, Douyin focuses on the development of product functions and user experience. On one hand, it focuses on the improvement of the product's own shooting function, and on the other hand, it also pays close attention to market response. For example, do the originally assumed user groups like this product? Do the product functions meet their requirements?”

"After determining the positioning of the community, and with the full support of relevant resources from sister companies, Douyin will add the function of searching address books by the end of the year, and open ports such as WeChat and Weibo. Placing the social port in such an important position emphasizes Douyin's The focus of music is not music in the eyes of outsiders, but the community. Through the diversion of other social software, the quality expectations of user-generated content will also be improved."

"There is a major strategic plan next year, and we are planning to collaborate with popular artists under Yixing Media Group to plan the first internal topic in order to increase user activity and exposure. For this purpose, the plan operation team also plans to hire a large number of college students and Dance professionals contribute quality content videos.”

“Our team believes that the energy of professional producers is even more amazing, so we plan to have Douyin launch a new recommendation mechanism and support plan next, which is the ‘centralized operation model’. This model focuses on prioritizing Support some users to become popular, and then drive ordinary users by increasing the creative enthusiasm and stickiness of top users.”

At this moment, Yu Chenliang continued to organize subsequent words while saying clearly: "This style of play is completely different from that of competitor Kuaishou. For Kuaishou, its positioning is more like doing things for the majority of people who are not paying attention. A tool-type product. Therefore, Kuaishou does not make any traffic tilt when operating. I have also seen its head said in an interview that Kuaishou insists on not operating on a specific group of people, such as Internet celebrities, nor with Celebrities and internet celebrity anchors sign cooperation agreements.”

Obviously, in this PK model in the short video field, Douyin chose a centralized operation model to cope with Kuaishou’s free development model.

People will know who is strong and weak only after a tit-for-tat confrontation, but Fang Hong, who has the advantage of foresight, knows very well that Yu Chenliang's strategic thinking is right.

An important turning point in the previous life of Douyin occurred in 2017. At that time, Yue Yunpeng, a popular crosstalk expert on Weibo, forwarded a video with the Douyin logo. However, this was not a deliberate operation by Douyin, but a video with the same appearance as Yue Yunpeng. A user who looked like Yunpeng uploaded his own video, which was noticed by Yue Yunpeng, who forwarded it and quickly became popular. Such content has its own entertainment BUFF effect, which immediately attracted a large number of users to Douyin.

With Yue Yunpeng's forwarding, Douyin officially entered the public eye, and Douyin's search index soared significantly.

Deciding to plan an internal topic with popular artists under Yixing Media Group obviously has the same purpose. This is also an interpretation of a typical centralized operation model.

Yu Chenliang said: "Product experience is also extremely important. Currently, the Douyin project team is further increasing its investment in product research and development. It is expected that a new version will be iterated every two weeks or so. In order to improve the response speed to demand, the operations department has specially set up a technical Q\u0026A group. Let technology and users communicate directly, and if there are problems that cannot be explained online, users will be directly invited to the office to chat in person.”

Hearing this, Fang Hong nodded: "This measure is good. During the initial growth of Douyin, early users put forward many opinions on the product. As those who grew up with Douyin, this group of people has great influence on the entire community. It also has a higher sense of cultural identity, so user stickiness is also very strong.”

With feedback from a large number of users, Douyin will become smoother and more popular among users.

Yu Chenliang continued: "After the expected goals of the first phase are achieved, the second phase will focus on communication operations and exploring profit models. At this stage, Douyin relies on Toutiao to spend money on advertising on a large scale, and the product is ready. The basis for vigorous operation.”

"In order to expand the source of users, the team's internal positioning of Douyin always emphasizes its social attributes. At this stage, Douyin will add a new [Nearby] page to the homepage. Users can search for [Nearby] to find locally related videos and Users, this can further increase social proximity and further increase the exposure of Douyin videos.”

"In addition, we will further increase the number of top stars and invest heavily in the entertainment industry, including but not limited to cooperation with Yixing Media. In addition to expanding exposure, we are also trying to explore profit models at this stage. The team has initially It is determined that we will launch information flow advertising at that time, and then we will launch the live broadcast function, test the live broadcast e-commerce to bring goods, and seize the cake in the traditional e-commerce field.”

Regarding the matter of live streaming e-commerce, it was because Yu Chenliang proposed this model that Fang Hong valued it and gave him the opportunity to rise rapidly. He had already made a detailed report on this during his last online meeting with Big Boss.

Yu Chenliang continued: "When the expected goals of the second phase are achieved, Douyin will definitely enter the post-high growth period. The third phase will focus on increasing user growth and improving content quality."

"At this time, we will further increase the allocation of resources and spend a lot of money to place ads on a reserved basis during the most expensive Spring Festival travel period. Mobile movie ticket and seat selection information will also become Douyin's advertising space."

"At the same time, Douyin has opened channels such as Dabao and Jingdong, and has gathered many Douyin accounts with millions or even tens of millions of dollars to connect to e-commerce delivery links, further enhancing the stickiness of the platform's big V..."

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