Liang Ning, a consultant of Baidu group and known as Zhongguancuns first talented woman, revealed the mystery of pinduoduos subsidy of 10 billion yuan in his latest public speech: in the short term, subsidies for e-commerce platforms are a bilateral game, with supply before transaction. But from a longer-term perspective, the evolution of e-commerce platforms depends not on subsidies, but on who is more accurate. The essence of business is cash realization. Who is more accurate means that the realization efficiency is high, and the resources will surely lean towards the direction of high realization efficiency.
Nowadays, pinduoduos recommendation algorithm is the most accurate among the three e-commerce companies, and the user side has network effect, so pinduoduo is stronger. Taobaos algorithm is doing keyword related recommendation, while pinduoduos algorithm tries to understand users search motivation and preference. Taobao has no network effect on the consumer side, while pinduoduo users are valuable to users. In fact, precision and network effect are the core words in Zeng Mings Book Intelligent commerce. But the best way to carry out his idea is pinduoduo.
The following is based on Liang Nings public speech:
I said that if we look at half a year, it is a bilateral game. Business is sure to sell before buying, and supply before trading.
But if we look at it from a 3-5-year perspective, it should be an evolutionary approach. On such an evolutionary path, it is not the 10 billion subsidies at this time that play a decisive role, but who is more accurate. Because the essence of business is to realize, who is more accurate means that the realization efficiency is high, and the resources will be inclined towards the direction of high realization efficiency. Therefore, the future business ecology must be a collaborative evolution with precision as the core.
Who is more accurate, Jingdong, Taobao and pinduoduo? There is no way to compare Jingdong, right? When you open the recommendation of Jingdong, the deepest feeling is that you have already bought something. If you dont want it, he will recommend you something. Its really speechless.
I search for Wuxi spareribs on pinduoduo. Besides Wuxi spareribs and sanfengqiao, pinduoduo also recommends Sixi meatballs to me. What does that mean? Taobao is doing keyword Association, while pinduoduo is doing user understanding. It tries to understand my search motivation and preference.
It seems that both Taobao and pinduoduo are shopping platforms, but in the intelligent closed loop of their internal operation, their scene goals are different: the goal of Taobao is to let users Taobao. Pinduoduos goal is to make users addicted.
What does that mean? This means that pinduoduo has to collect and process more user data than Taobao, resulting in stronger user understanding than Taobao. So I searched chicken breast on pinduoduo, and pinduoduo would recommend sports bra to me. This is not the traditional keyword matching, this is pinduoduos intelligent recommendation based on the understanding of my user model.
Now that Taobao has started Tucao, I would like to make complaints about the key short board of Taobao, that is, the network effect. The word network effect is familiar to all of us. What is network effect? In short, users are valuable to users.
Wechat is the most powerful network effect product. Because users are valuable to users, users need to pull more users.
Taobao has no network effect at C end. Taobao users are not valuable to users.
But pinduoduo has a network effect. Pinduoduos users are valuable to users. If you help me spell a group, Ill cut you a knife, and then you can provide me with a shopping inspiration. The network effect is at the heart of pinduoduos growth miracle over the past few years.
This can be seen in a user survey conducted by Penguin think tank. They found that 44% of the reasons why users choose to shop in pinduoduo think it is easier to compete with acquaintances.
What does this mean? Users dont know what they want, but I want to eat fruit. I can eat whatever Im pulled to do. This is a typical stupid user.
The typical clumsy is that a girl goes shopping to buy clothes - I dont know what I want. I want to see it. I saw a dozen clothing stores, hundreds of clothes, and finally bought a hat. The second generation of e-commerce, including Taobao, Meili Shuo and mogujie, is a shopping guide website serving stupid users. Clothing, a non-standard product, has a particularly strong effect on stupid users, because I dont know what I want, and I cant search for it.
Taobao only uses the method of artificial intelligence to continuously recommend, but the recommendation of acquaintances also pulls you to spell orders, which is a more effective promotion for stupid users.
24.8% of people bought things they had never used or seen before.
Before the merger of meituan and Dianping, I always thought that there were more users of comments than meituan, but in fact, meituan users were three times as many as those of Dianping. Why?
Then compare the shopping habits of users. For Taobao and Jingdong users, 93.1% searched directly, and then purchased according to sales volume and evaluation. Pinduoduo starts from the areas of second sales, special sale, list and free order. This is the difference between typical Daming users and stupid users
One is that I go into the supermarket to pick what I want on the shelf, and even have to specify the brand and production date;
The other is to go to the discount area first to see whats on sale. Then Ill pick what I need and I havent seen anything on sale before I buy it.
In fact, precision and network effect are the core words in Zeng Mings Book Intelligent commerce. But the practitioner who carried out his idea best was pinduoduo.
Source of this article: Wang Fengzhi, editor in charge of Chinanet_ NT2541