Compared with Le Tao's 929 promotion, Taobao's 929 promotion was indeed overwhelming in all aspects.
Ever since Taobao's advertisement was launched, the number of visitors to Taobao's website had increased by millions, and the number of registered users had increased by nearly one million. The registration conversion rate of visitors had exceeded 20%.
With such a high conversion rate, a considerable number of visitors who were already Taobao users had to be eliminated. Therefore, it seemed that the registration conversion rate of Taobao's 929 promotion this time had exceeded 50%.
The reason why there was such a high conversion rate was indeed because after all the promotion details of Taobao were released, all kinds of familiar brand discounts could be seen at a glance. Moreover, there was also the game of snatching and drawing all kinds of large discount coupons, which was very attractive to users.
The back-end data showed that for registered Taobao users under the age of 30, the most visited product category on the promotion page was clothing. This was because a large number of famous brands that were very popular among young people in China had given a real 50% discount in this promotion by Taobao. This was indeed a huge attraction.
Taobao registered users over the age of 30 paid most attention to daily necessities, rice, oil, and salt.
It could be said that Taobao had put in a lot of effort to target these users. It could be said that all the daily necessities, daily necessities, oil, and salt products that Taobao had launched this time had aroused a strong desire among its users. This was because the price was really worth it. It was more worth it than the price that users could buy from any other channels!
Taobao relied on its powerful, perfect, and attractive promotional activities to attract the attention of a large number of users. At the same time, it also used astonishing data to shock all the companies participating in this event.
This time, Taobao did not carry out pre-sales, so there was no direct data to estimate sales. However, the number of users who joined the shopping cart and the number of users who subscribed to it could still intuitively reflect the approximate sales of a product during the future event.
For example, a shampoo brand under Procter & Gamble launched a very discounted family set in this event. A 1500ml large bottle of shampoo and a 1500ml large bottle of conditioner. At the same time, there was an additional 200ml small bottle of travel clothes and a towel with the brand's logo.
The price was already cheaper than the mall, and there were three more free gifts than the mall. At the same time, there was a full 199-50 discount on this basis. For many users over the age of 30 who had never experienced online promotions, this promotion was extremely exciting. In 12 hours, the number of users who added this set to the shopping cart or subscribed to it exceeded one million.
More than one million people added to the shopping cart or subscribed to it in 12 hours. Although it was impossible to multiply this number by 16 in eight days, it was not a big problem to multiply it by five. In that case, it would be five million sets. Even if the final conversion rate was only half, it would be 2.5 million sets! For enterprises, this data was simply shocking and ecstatic.
This time, Li Mu hoped to rely on this round of activities to completely open up the e-commerce market. Not only did he want to let the netizens get used to buying electronic products online, but he also wanted to let the netizens get used to buying other daily necessities online. To achieve this goal, he had to achieve a large discount on the product itself.
Small profits but quick turnover was the most typical business rule in the e-commerce industry. A platform like JD.com had a huge impact on the sales of fast consumer goods. Many people might not be able to feel it, but if they were to estimate its sales and look at its front desk data, they would be able to make a rough guess.
For example, when searching for shampoo on Jingdong, there were more than 760,000 reviews for a series of shampoo and conditioner. There were a total of five products in this series, and the unit price was. Assuming that the ratio of Jingdong users buying to reviews was 5: 1, that meant behind the 760,000 reviews, there were at least 3.8 million purchases! And because most users were not used to reviews, this ratio might be even higher.
3.8 million purchases, with the unit price of this series of products, the sales volume on Jingdong was 250 million RMB!
Similarly, the iPhone 6S had more than 780,000 reviews on Jingdong. Using the same ratio of 5: 1, the actual sales volume was 3.9 million units. Also, the unit price of the iPhone 6S was much higher than the shampoo. Taking into account the different pricing of different capacities, assuming the average transaction price was 5,500 RMB, then Jingdong had sold the iPhone 6S worth 21.45 billion RMB!
Taking a step back, if the higher the price of the product, the more enthusiastic users were to review it. Assuming that the ratio of Apple mobile phone purchase to reviews was 2.5: 1, then Jingdong had at least sold more than 10 billion RMB for the iPhone 6S!
Just one product had sold more than 10 billion RMB! And it was self-operated! Such a platform was simply abnormal. It would make all enterprises pay special attention to it. Naturally, it had a lot of say. Also, even if it had been making losses on its books, its valuation was still very high.
What Li Mu wanted was to use this event to erect an abnormal image of Taobao in front of all the enterprises. If this event was successful, all the enterprises would become Taobao's most loyal suppliers and partners in the future.
At that time, not only would they give Taobao more preferential terms and a longer account period, but they would also give Taobao more customized services. Maybe in the future, all the brands under Taobao would introduce special Taobao packages. Maybe many mobile phone manufacturers would also be willing to introduce special mobile phones for Taobao. All these would greatly increase the popularity of Taobao's platform and brand.
In the past 12 hours, Taobao had not only made the whole nation's netizens enter an online shopping frenzy, but it also made all the participating brands excited. At the same time, the number of users on their platform kept increasing, and the profits were huge.
But Le Tao's past 12 hours were too miserable.
Boss Ma and the entire Le Tao team were in deep despair due to the low sales figures.
No matter what, the figures would never lie. If this continued, 13,000 registered users in 12 hours, 26,000 a day, or even 30,000 a day, it would only be 240,000 in eight days …
If the 16 million RMB promotion cost was used, and there were only 240,000 registered users, it would be the biggest joke and the biggest failure in the history of the internet industry.
For any platform or product, the cost of acquiring users would not be so high.
If there were really only 240,000 registered users, then how many users would actually make purchases during the promotion? Even if 50% of the users placed orders, and the average price was 100 RMB, the sales for the entire promotion would only be 12 million RMB …
This figure was simply infuriating!
On one hand, Li Mu and eBay invested in PayPal, and the three joint venture PayPal was immediately valued by the whole nation. The three companies' valuations soared because of this cooperation.
On one hand, Boss Ma, Alibaba, Amazon, and Dang Dang had formed a joint venture to create Letao. The advertising budget was more than 16 million RMB, and the total sales of the promotion was only 12 million RMB! Also, there was almost no profit from the 12 million sales. Including the manpower and resources invested, Le Tao would lose more than 20 million from this promotion …
If these two situations were put side by side, Boss Ma almost wanted to dig a hole in the ground and hide.
Yang Weilian was also embarrassed. What should he do? Amazon still wanted to use Le Tao to enter the Hua Xia market. But now, they stepped on Li Mu's trap the moment they stepped on Hua Xia. The monetary losses were not important, but the indirect losses were huge when it comes to Amazon's strategy in Hua Xia.
But there was nothing he could do. Le Tao was being beaten up by Taobao in the ring. There was no referee in the ring. Who could save Le Tao now?
Boss Ma, who was in despair, said to everyone in the meeting room in a serious tone, "We can't just sit here and wait for death! It seems that Muye Technology has almost destroyed the entire marketing plan we set before. We have to think of another way! "
Lu Zhaoxi said, "If that's the case, instead of spending so much money on promotion, why don't we just spend it on the users? We used the media to convert users, but after Li Mu messed things up, the cost of acquiring a user is more than 75 RMB. What if we change our thinking and give the money directly to the users?"
Lu Zhaoxi added, "If we can give each user a 20 RMB discount, the number of users will increase! It's much better than using 75 RMB to exchange for a user! "
Boss Ma asked him, "You mean we should give the money directly to the users? Let the users spend freely? Set a threshold? "
Lu Zhaoxi said, "The threshold must be set. Otherwise, once we open a loophole, we won't be able to stop it. Why don't we use Taobao's method to give out coupons? Don't they have several slots for full discount coupons? Then we might as well give each user a full 99 RMB 20 RMB coupon. They can use it on the basis of 20% off. "
Cai Chongxin said, "Old Lu, don't forget, even if we change our thinking at the last minute and increase the intensity of the promotion, we still need to rely on the media to spread the news of us increasing the intensity of the promotion. Otherwise, even if we give the users a discount of the full 99% discount, the users will not be able to receive this news. Therefore, we will not be able to save on our marketing costs."
Lu Zhaoxi smacked his lips.
He was a little emotional and one-sided. He only thought that instead of spending 75 RMB to exchange for a user, it would be better to use the money to subsidize the users. But he forgot that no matter what promotion strategy Le Tao adopted, they still needed to rely on the media to spread the news. So, it was impossible to save money on promotion. The only thing he could do now was to find a way to increase the conversion rate of promotion.
The entire audience was deep in thought. Boss Ma also frowned and did not say a word.
From the looks of it, there were three ways to increase the conversion rate of promotion.
The first method: Hire an A-list celebrity to do the advertisement, but it was definitely too late. The promotion time of 9: 29 RMB definitely could not be changed. At this time, find a celebrity, negotiate the price, shoot the advertisement, and do the post-production. By the time the advertisement was done, it might already be October.
The second method: Go the way of Taobao and find a large number of famous brands to join. Whether it was the number, quality, or popularity of the brands in Le Tao's event, they were left behind by Taobao by hundreds of streets. If they could find a way to increase the brand's attractiveness, they would definitely be able to increase the conversion rate. But the problem was, who should they look for to cooperate with at this time? Taobao was eyeing them covetously. The big brands would definitely not risk offending Taobao to cooperate with Le Tao, so this path was also very difficult to take.
The third method: Increase the intensity of the promotion! Didn't Taobao have all kinds of full discounts and full 199-198 RMB coupons that could be snatched? Then Le Tao would also introduce additional coupons, using real benefits to attract the attention of users.
Right now, only the third method seemed to be the only possible way out, but there was also a problem.
Once they decided to give additional discounts to users, it meant that Le Tao had to bear the cost of the additional discounts. If they really attracted a lot of users, then it would be a huge expense. The profit margin was already very low. If they added an additional 99-20 RMB, basically for every 99 RMB that users bought, Le Tao would have to pay at least 15 RMB or more.
Boss Ma was not afraid of losing some money to make a profit, but he was afraid of leading the wrong rhythm. The current Internet industry had not really entered the stage of burning money to fight, but Li Mu had forced Boss Ma to the point where he had to burn money to make a profit. Boss Ma was very worried. He was worried that once this unhealthy competitive model was started, what if Taobao went all out to follow him?
What if after he decided to lose ten million RMB to make a profit, Taobao was willing to lose thirty million RMB to fight him to the death?
He did not have much cash on hand, but Li Mu had at least a few billion RMB of deposits from Taobao in his hands!
If he fought with Li Mu like this, once his money could not keep up, he would immediately fall short of success …
…
PS: I've been too busy with work recently. It's almost 2 PM after I finished the second update. I'm really tired. I hope everyone can try to support the original version and vote for one more monthly vote! Buge is very grateful! I'll ask for more monthly votes before I go to bed! Brothers and sisters, we must fight with all our might until the end!
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