Start by trimming cow hooves

People are sitting at home, and the hot search comes from the sky again.

The cause of the incident can be traced back to June this year.

At that time, BuyMe's sales platform was initially built, and because of financing, a large amount of working capital was obtained. In order to attract more users to use this new shopping platform, Suri personally planned a promotion activity called "Cash Wheel", preparing to spend 100 million US dollars for promotion to attract new users to join.

According to the rules of the activity, users only need to send emails to their relatives and friends around them and attract them to help, and they will have the opportunity to get electronic shopping coupons ranging from 20 to 100 US dollars.

Until half a month ago, this activity was officially launched. With the exaggerated promotion page and the support lottery activities that whetted the appetite of users, it attracted many users to send emails everywhere to attract people.

At first, the influence was relatively limited.

A few days ago, a housewife from Kentucky said on the TikTok short video platform that her friends and acquaintances were crazy. In just one week, she received more than 30 emails requesting to help BuyMe cash lottery.

What’s even more infuriating is that she was also attracted, from US dollars to gold coins, from gold coins to diamonds, and finally to diamond fragments. The progress bar was always a little short, and she couldn’t get the electronic shopping voucher worth $60. She shouted in the short video that she should sue BuyMe.

It may be because the housewife described the whole thing too vividly.

Anyway, this short video quickly became popular, attracting countless netizens who were frequently harassed to denounce BuyMe’s outrageous operation, and the number of likes quickly exceeded 730,000+.

A group of media heard the news and took the opportunity to fan the flames of the competition that tried to suppress BuyMe, so that the heat of the whole thing soared rapidly and rushed to the top of Facebook’s hot topic list in a short time.

Suri, who was still on Lanai, took the initiative to make a video call to Bob, the current CEO of BuyMe, after seeing the relevant news. He asked:

"How much has the number of registered users of BuyMe increased since the launch of the campaign? Let the legal department pay more attention to it and make sure that users don't catch any omissions."

BuyMe's CEO Bob said excitedly:

"I was just about to report the good news to you. The company's new registered users have increased by 8 million in the past half month! The average cost of attracting each new user is less than US$3.6. Even if we prepare in advance, many products are sold out. Sales have increased by more than 150% compared with the same period last month!"

Hundreds of millions of dollars have been invested, so how can there be no splash?

Suri certainly considered launching such a dog-skin plaster-like marketing campaign, which is likely to cause the risk of class action lawsuits. After all, even the mainland, where advertising is relatively relaxed, has discussed related issues more than once, while the United States is much stricter.

For example, buying Coke and exchanging points for fighter jets, and KFC's family bucket is not enough for the whole family, are all classic cases in the history of advertising and marketing. Once customers are given the opportunity to exploit loopholes, they will never give up asking for sky-high punitive damages.

The customer acquisition cost of Internet companies has always been an important factor in measuring the potential value of enterprises. The reason why Netflix Entertainment has developed so smoothly is that the initial customer acquisition cost is low. One of the key factors.

At that time, "The Walking Dead" and "The Vampire Diaries" were popular, attracting countless users to come spontaneously.

In order to attract 1 million active users, some companies invested a total of 40 to 50 million US dollars in publicity and promotion costs, while some companies only spent millions of US dollars. In comparison, without considering the ability to realize cash, the latter often have a better chance of survival.

This "Cash Wheel" event has attracted more than 8 million new registered users, with an average customer acquisition cost of less than 4 US dollars. At the same time, sales have increased significantly, and the popularity of the BuyMe shopping platform has been increased with the help of news.

No matter from which angle you look at it, it is a very successful marketing.

Sure enough.

With the path of predecessors to follow, the development process is much smoother. If he had learned the traditional e-commerce advertising model of companies such as eBay and Amazon, Su Rui might have to spend an extra 1 billion or 2 billion US dollars in marketing and publicity to incubate the company to a level that can barely compete with Amazon.

Sitting in front of the computer, Su Rui found a comfortable position, put his feet on the desk, lay back, and continued:

"Congratulations, it seems that I should consider formulating some option incentive plans for you. However, the increase in new registered users is good, but the sales volume is still a little less. Some aspects are not in place. You should consider how to attract users to place orders, especially recommending clothes with high added value to them."

One hand is carrot, the other hand is a big stick, which is a common routine for bosses.

In order to develop smoothly, BuyMe has already completed angel rounds and A rounds of financing in advance. The current market valuation is about 13 billion US dollars. After this promotion is over, it should be able to rise again.

Anyway, there are other shareholders to help share the pressure, so Su Rui doesn't feel any pain in formulating option incentive plans.

The main thing is to hang the carrot of option incentive plan in front of the senior executives, so that they will spur each other on and burst out with full enthusiasm, which can save Su Rui a lot of trouble.

Money or not doesn't matter anymore. As long as it can make your life more satisfying, giving employees more rewards is what Su Rui thinks.

CEO Bob smiled particularly brightly and immediately said seriously:

"I will hold a meeting with other executives to carefully plan the future marketing plan. If we give more discount coupons to new users, I believe that sales will continue to rise sharply and truly retain these new users."

Talking about the company's recent situation, Su Rui used the retention of high-quality live broadcasters as an excuse to let CEO Bob consider re-signing a high-priced contract with several anchors including Olivia Carta.

In Silicon Valley, it is already busy incubating professional live broadcasting start-ups, which is equivalent to moving the TV shopping platform of the year online, which has caused some minor impact on BuyMe's live broadcast sales project. Spending money to bundle the top anchors is a very reasonable arrangement.

In addition to live broadcasting, other types of live broadcast rooms have also grown rapidly this year.

For example, a platform specializing in adults is registered in Canada. Even Su Rui blushes when he sees it.

As for why he entered such a live broadcast room. If you ask, it must be an accidental slip of the hand. He accidentally registered an account, entered the password, bound the credit card, and then clicked in by mistake.

In order to reduce the gap between the rich and the poor, Su Rui also gave rewards to several enthusiastic anchors to support their entrepreneurship.

This has nothing to do with whether his private life is rich or not. It is just a personal research of the market out of novelty (end of this chapter)