Eating through big data O2O in order to tap the potential

? Gong Yitao, who has been through Google, Ali, Wanda and other bull companies, did something quite smart last year.

He added one more to the list of bull companies with strong ties to himself -- domestic financial giant Ping An Group. Last year, Ping An Group made a strategic investment in Wan Jianglong Network.

This made the small startup company, which sprouted less than two years ago, was quickly plucked up and stood on the same starting line as Ali and Wanda in the Internet windfall O2O.

And by the end of October 2014, Wan Jianglong signed a comprehensive strategic cooperation with Yinli Group, which handed over the operation of all its shopping centers related to O2O to Wan Jianglong. The O2O operation of Baolong Group's shopping centers has also entered into cooperation with Wan Jianglong.

Compared with the old boss Wanda electric business is still in executive turmoil, progress is not clear in the system bound, out of the Wanda will O2O socialization to do a good job Gong Yitao in the excavation of a larger market. A few days ago, China Business News reporter exclusive interview with Gong Yitao, founder and chairman of Wan Jianglong.

Shopping center Internet lies in the scene optimization

In Henan Xinxiang's Baolong Plaza, Wan Jianglong's O2O operation team into the field two months later, Xinxiang store traffic growth in Baolong all of the two dozen shopping centers have opened ranked first. At that time, Gong Yitao's team used relatively simple techniques, or the first and second generation of Wan Jianglong's products. Now, Wan Jianglong signed the Indus Group and Baolong Real Estate a total of more than 50 shopping malls, to the Indus Group's shopping centers have been Wan Jianglong O2O "third generation products".

China Business News: What are the highlights of Ningbo Impression City's O2O?

Gong Yitao: First of all, it is to enlarge the traditional membership model to create the concept of a large membership system, the membership card as a shopping mall experience services, which is the original need to go to the service desk to do the card is to experience the promotion.

At the same time, regardless of whether there is no consumption, customers walking into the mall to leave a phone number can become a member of the shopping center, which is to give customers a basic attempt. Initially Ningbo Impression City was a few thousand members, Wan Jianglong took over the operation three months after a 10-fold increase, already a pyramid.

China Business News: Most of the domestic shopping centers are now adopting similar tactics, such as Yintai, which has no threshold for member registration.

Gong Yitao: Wan Jianglong's model is to make a unified system and a platform. The unified system is regardless of whether the customer is WI-FI registration, or WeChat registration, or card registration, all can be in a platform, and from any entrance to go in can be identified, all the ports have been connected, such as WI-FI links, POS machine links, links to the theater, public transport information system links, etc., the third-party open information technology, social software links, and a variety of offline landing activity links.

It's not hard to do one thing, but it's hard to do all of them because the vendors have different code patterns and structures. In order to "all through", in the technical research on Wan Jianglong has spent four or five months of time. Taobao has a lot of third-party interfaces, drawing on the open function of the Internet, we have also put the "hook" (API program interface) released, so that the world is willing to play with us. It's going to be an acceleration.

China Business News: In addition to other functions? For example, the consumption traceability record.

Gong Yitao: There is no traceability function yet. But at present, offline card spending changes can be displayed on WeChat within 1 second. The customer's original data points will be displayed on WeChat, which can give customers an increased sense of intimacy.

China Business News: Wan Jianglong platform moat where? Will it be copied quickly?

Gong Yitao: anyone is willing to do platform, but the first must have the ability to do. Secondly, to do the platform at the beginning of nothing is "pure money". We are so dry up. The first angel investment of millions of dollars, my own money burned a few million.

China Business News: less than two years of entrepreneurship, Wan Jianglong's O2O products have now been iterated to the third generation, compared to the evolution of the first two generations where?

Gong Yitao: First of all, the input cost is greatly reduced, O2O input before there is no standard. Wan Jianglong now in the establishment of standards, the establishment of standards after the entire O2O investment in a wide range of decline. In the early days, Wanda invested in a shopping center O2O project may be a few million dollars, Wan Jianglong two generations of products compared to Wanda, although it has been very cheap, but the investment is still very high, such as the construction of a 100,000 square meters of shopping centers laying WI-FI equipment requires more than 1 million yuan, not counting the shopping center's own investment. Wan Jianglong put into a shopping center O2O project cost may be 1 million yuan, this 1 million yuan is mainly salary costs, are senior engineers research and development. Now if a standard product, shopping centers do not mention special needs, Wan Jianglong can reduce the input cost to tens of thousands of yuan, and can do some additional things, the effect is better. The cost is reduced to 1/10 of the original, but the efficiency is greatly improved. Platform costs are getting lower and lower, others can no longer compete.

Secondly, the service ability is enhanced. Wan Jianglong's first generation of products is points plus coupons. The first generation of products in the mode can go through, but the function is too little; the second generation of products to add group-buying, seconds, activities to split the application; the third generation of products mainly do standardized interface development applications and customization, can be quickly iterative, more efficient.

At the same time, we explored through the cooperation with the Indo-Pacific, Paulownia, in the platform "curing" good models and functions, curing the formation of a set of standards, do not have to write one by one to develop the program. After realizing the standard, it is more and more simple to interface with customers.

China Business News: In general, Wanda or other shopping centers or, invested millions of dollars in O2O effect in what areas?

Gong Yitao: performance improvement. Before, Wan Jianglong first generation of O2O products on-line operation of 8 months, new members of 150,000; Hangzhou Xixi Impression City on-line 2 months, new members of more than 100,000. This is an obvious difference, and the benefits are greatly improved. There are also more than 100 merchants adopting smart card machines.

China Business News: How many members can contribute to the actual profit? Instead of "zombie members".

Gong Yitao: In addition to the big members, Wan Jianglong's O2O is characterized by the application of the electronic model to the hands of consumers.

Yintai and Ali's O2O is more or less the same as that of Dashang Group, which belongs to the exploration of the department store industry. Wan Jianglong many of the concepts and the former are similar, but the business scenarios are completely different. For example, SKU to do single product, which is a department store and big business must do, but shopping centers do not have to do this thing. In other words, the most typical mode of department stores is to chase the short-term benefit maximization, chasing the highest peak value of single product sales in a single day. Look at the development of offline business, shopping centers to replace department stores on a large scale is also such a logic. Because consumers will find that although the price is cheaper, but did not buy the goods they really want. What kind of consumption is considered reasonable consumption is based on frequency.

The promotional model for shopping centers is to have a more relaxed rental model. The loose rent model brings the shopping center owner to put the management right to the merchants. Merchants will be based on their own customer relations, management capabilities, growth rates and judgment of the surrounding market research, to rationalize the deployment of consumption conditions, rather than only consider how to maximize profits.

So, from this point of view, the business under the Internet will also face the same pattern.

From watching Jack Ma in 2000 to now, the whole Internet is a department store model. Purely for the sake of selling things, many people still will not choose online shopping, because there is no feeling. And a large part of the transaction precisely can not lack of feeling.

Online shopping is slowly becoming a "loser economy" because online shopping in some of the conventional, the original public thought should be three or five friends to show a show, cut the price of the thrill of the process of all omitted. Shopping center of the Internet is to use the most convenient mode, the most relaxed scene, so that customers want to get up, open the phone can be used, rather than to chase the so-called absolute low price, or cost-effective.

Shopping centers will become China's first consumer destination

After three generations of products quickly "iterative", originally planned to 12 months on-line 100 shopping centers across the country O2O Wan Jianglong plan is now targeting 500. Behind the plan is the efficiency of O2O standardization increased by more than ten times.

China Business News: What inspired you to enter the shopping center O2O market?

Gong Yitao: Because I see the United States shopping centers accounted for 50% of the overall consumption, while China is currently less than 8%. China has now entered a well-off society, people have quality of life, the rapid rise of the middle class, so I judge that shopping centers will become China's number one consumer destination.

China Business News: This judgment was made before you went to Wanda?

Gong Yitao: I really didn't know what to do before I went to Wanda. It took me three months to decide to go for it. Wang Jianlin's hope for Wanda's e-commerce is to achieve socialization, but I don't think there's a need for Wanda to socialize, and socialization is high risk. Wanda e-commerce only around Wanda's existing shopping plazas to do customer flow and sales enhancement, for Wanda is a better choice.

China Business News: You have been in Wanda for almost two years, how do you look back on these two years?

Gong Yitao: Personally, I think the biggest achievement is that after two years of my work, Wanda Group made Wanda e-commerce one of the four pillar industries of Wanda.

China Business News: But Wanda's e-commerce has not taken shape even now.

Gong Yitao: When I left, the Wanda shopping center was already online, and e-commerce was included in Wanda's four pillar industries and the group's strategy, along with commercial real estate, culture and tourism, and finance***. The most important thing in the transformation of traditional enterprises is to find a suitable person at a good time. Wanda looked for a lot of people, but I do the first CEO should be more appropriate, because I have done a lot of things from zero to one in large companies before.

Wanda is a potential rival who will own hundreds of shopping centers in the future, and Wan Jianglong will end up being a shopping district, with the second step being urbanized operations.

China Business News: What is the goal of "burning money" out of your own pocket to do O2O? What is the next plan?

Gong Yitao: shopping center O2O is the only viable shopping center in O2O to build their own brands, third-party service providers to become similar to the "Intel IN" kernel support, so as to achieve cost-effective investment. Shopping centers can only rely on the third party to string together the Internet.

Paolong real estate after two years of exploration, put a lot of effort, but also after a rigorous investigation and strategic deployment. Baolong believes that it should give full play to its two core competencies of commercial operation capability and data, and as for the platform construction, it can be handed over to a third-party company like Wan Jianglong to do it.

And the third party gives a basic semi-finished product, shopping centers only need to graft all kinds of their own needs on the platform.

At present, the return on investment of O2O is also calculated. Wan Jianglong will soon come out of a product is the transformation of Ping An's financial products transplanted to the shopping center, from non-directional to only spend in the shopping center can produce income "lock consumption" products.

This has two advantages: first, it solves the problem of shopping centers not being able to issue shopping cards and lock in spending like department stores. Second, there is a great temptation to consumers. For example, customers in the impression of the city to spend 2000 yuan a month, then now you can put this money in the impression of the city's electronic wallet, customers slowly spend.

In this way, the customer in the financial products on the earnings of about 6%; second, the shopping center and then add 10% to the customer can reach 16%, more than put the bank earnings of three or four times.

Why is Impression City subsidized? For example, the impression of the city and then go to the financing, need to look at is the value-added part of his assets,

If Indy a shopping center's annual rent is 500-800 million yuan, if there is a 100 million shopping card funds have been locked in advance, the value-added value of the shopping center space has become very large.

It is not the return on the money that shopping centers want. According to state regulation, this money is placed in Ping An inside, shopping centers can not want. But Ping An's advantage of laying out O2O comes out. We will create more financial products suitable for consumers, suitable for merchants and suitable for shopping centers.

China Business News: All e-commerce capital is actually grabbing the financial cake, but wealth management is one thing, and consumption is another. How can the two be naturally connected? For example, customers will often shop at Impression City, but it is unlikely that they will deposit two thousand dollars with him first. Consumers generally do not have this habit. And access to financial returns on the Internet consumer financial products market has actually been a lot.

Gong Yitao: we do is a certain shopping center's financial wallet, the customer's money in, out, can only be used in the shopping center. And shopping centers are willing to finance this way, with 1 million to attract 10 million in. It's very straightforward. And we will only put in the money that the customer is going to spend, for example, if you spend 2,000 a month, you can't put 20,000 first. But put 100 dollars, can be 116 dollars to spend, there will be people willing, and this money would have been to spend. The shopping center then discounted 10%, in the long run to stimulate consumption. And in the shopping centers under the banner of Indy, there are customers who spend hundreds of thousands of dollars a year.

Shopping center O2O is "Ma Ma Wang" PK battlefield

Standing on the shoulders of Ping An, Gong Yitao believes that its less than two years of business Wan Jianglong company may be a competitor with Ali, Wanda match. With Ping An's financial resources, Wan Jianglong aims to become China's largest consumer service platform, Gong said.

China Business News: O2O industry views vary, some believe that there must be revenue, some believe that it is to enhance communication with customers, shopping centers must do O2O? In addition to the impact of e-commerce, O2O really bring to the shopping center is what?

Gong Yitao: must do. The essence is that shopping centers increase competition, resulting in the need to use Internet technology to find incremental.

For example, within three kilometers, two identical shopping centers, there is a difference between shopping centers with and without O2O, the former will first use the electronic wallet to fish out the consumer's pockets, while the shopping center around the catering, tutoring and other small business circle of consumption are covered.

Saying that no revenue investment in O2O is a failure, the view is not entirely correct. Wanda's investment in e-commerce is not directly seeking return, is to find back in the capital market.

China Business News: But for small and medium-sized enterprises, it is unrealistic to play big data and finance.

Gong Yitao: Yes. However, the most important thing about a transaction is not that the money flows inside your pocket, but that you know his authenticity. This data will be more gold than this money into your pocket. Because the money into the pocket, because there are all kinds of regulation can not move, but after knowing the authenticity of the data, you can do all kinds of credit consumption, as well as merchants of various products.

China Business News: Now all the capital in the layout of O2O, how do you see the market pattern of shopping center O2O?

Gong Yitao: Now shopping center O2O is the PK battlefield of "Ma Ma Wang" - Ping An's Ma Mingzhe, Ali's Ma Yun and Wanda's Wang Jianlin.

Ma Yun has an advantage in small business retail, Wang Jianlin is to have the advantage of the scale of the line, then the other?2014, the national shopping center has exceeded the size of 3500, and more than 300 new each year. What about the thousands of shopping centers across the country? Then we will do it. We are the "chariot" of Ma Mingzhe.

At present, Ping An and Wanda's strategy is the same, but it must be Ma Mingzhe to do O2O than Wang Jianlin has an advantage. Why? Wang Jianlin has offline resources lack of financial, so Wanda acquisition holding close to the financial company fast money to do financial. Ma Mingzhe financial no one can compare, there are a variety of financial licenses, Pingan Lujinsho hundreds of billions of market value, so he invested in offline O2O team, by Wan Jianglong to do offline. One is to help shopping centers provide O2O services, and one is the resources of finance, which must be more difficult to replicate. Finance does well ultimately is to have the means of production - capital.

Wang Jianlin's O2O strategy is very correct, but it is difficult to rely on fast money alone, first of all, fast money is a payment company is not a financial company, there is no financial license, he is just an intermediary. Probably by the end of this year, the number of O2O served by Wang Jianglong will far exceed Wanda. And can Fast Money surpass Ping An? Impossible. The financial threshold is very high, Wang Jianlin to do finance is still just beginning, success or not remains to be seen. To do O2O must seize the financial. This is the core.

China Business News: In O2O in general before the lack of successful cases, in the end how to define shopping center O2O, is a tool or marketing means?

Gong Yitao: In the short term, shopping centers will be oversupplied. This status quo, O2O is a way to improve the management of the operation. But now the O2O effect is not obvious because it has not accumulated enough data to run things. There must be enough data before the precise adjustment of business. For example, according to the consumer line of motion tracking, characterization, to promote consumer purchases, there are about ten kinds of tuning method, which requires how much sales and personnel can be predicted.

The current O2O effect depends on two key indicators: user stickiness and the proportion of member consumption, of which the second indicator is the most critical. How to make a high proportion of member consumption? First of all, consumers should be willing to use, and merchants should be able to use, which is a positive cycle. The mall's control over consumers and merchants will become stronger and stronger, and the "invisible lock" will play a big role.

Wanda's best shopping malls in the early days were nearly half the membership card spending. Now Indigo and Prosperity are typically closer to double digits. Another big parameter to look at is offline stickiness, whether customers are visiting shopping centers more often and staying longer.

China Business News: Ali's O2O product Meow Street has been officially launched, also in the form of a platform for rapid expansion, the industry expects a fierce price war in the shopping center O2O field?

Gong Yitao: First of all, Meow Street can not be used as a daily operation platform for shopping centers, he is essentially a promotional tool for merchants. Meow Street provides some functions to consumers, but almost no functions to the shopping mall side, while we provide multi-functional management to shopping malls, which can enhance the last assets of shopping centers.

Meow Street is close to Meituan's model, they are in competition, but Meow Street still has a long way to go to compete with Meituan. And it's basically hard for platforms and platforms to work together. Platforms and tools can cooperate, platforms and applications can cooperate. Wan Jianglong is using the shopping center's platform to do it, it's smooth, the shopping center uses Wan Jianglong's tools, the data belongs to the shopping center, Wan Jianglong as long as the right to use the data.

China Business News: similar to the cooperation between VJD and shopping centers how to share?

Gong Yitao: It is not convenient to disclose the specific figures. Not share, can not ask the shopping center business in the platform above the investment, because the rent is already high, Wan Jianglong to create a new increment. For example, Wan Jianglong to Baolong's 10 million registered users to get, around the 10 million members to tap into the consumer demand of merchants can have advertising revenue, as well as shopping centers outside of the life of the consumer demand.

O2O to the shopping center to bring the benefits of three aspects: First, open source: so that merchants to make more money, so that the rent can go up, and through a variety of ways to adjust the business, positioning.

Second, cutting back on costs: through its own platform to complete a more efficient marketing. Thirdly, it is to generate new business models. o2O can definitely create new business models for shopping centers.

According to calculations, the advertising revenue of one person in Taobao is 100 yuan a year. Shopping centers on consumer insight although temporarily inferior to Taobao, but the user's consumption understanding than any other platform are more, so each person's advertising to Taobao's one-tenth is possible, which is also a huge advertising market, in addition to financial gains, such as peace of mind to the merchant unsecured loans Wan Jianglong can also be gainful.

China Business News: O2O training period, you think a few years can see the effect?

Gong Yitao: In China has not yet reached a growth cycle. Citing U.S. data, multi-channel people's consumption is three times that of single-channel; secondly, the O2O transaction mode is also changing, you can buy and deliver to your home or pick up.

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