Start with hooves

While you are sitting at home, hot searches come from the sky.

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

At that time, BuyMe's sales platform had been initially built, and it had obtained a large amount of working capital through financing. In order to attract more users to use this new shopping platform, Suri personally planned a promotion campaign called "Cash Roulette", and prepared to spend 1 million US dollars on promotion to attract new users to join.

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

Until half a month ago, this activity was officially launched. With its exaggerated promotional page and lucky draw activities that whetted users' appetite, it attracted many users to send emails everywhere to attract people.

At first, the impact was relatively limited.

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

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

Maybe it's 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 operations, and the number of likes quickly exceeded 73+.

A group of media outlets got wind of the news, and competitors who were trying to suppress BuyMe took the opportunity to fan the flames, so that the popularity of the whole incident soared rapidly and reached the top of Facebook's hot topic list in a short period of time.

Suri, who was still on Lanai, saw the news and took the initiative to make a video call to Bob, the current CEO of BuyMe, and 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 mistakes."

BuyMe CEO Bob was excited and said:

"I was just about to report good news to you. In the past half month, the company's newly registered users have increased by 800 million! The average cost of attracting each new user is less than $3.6. Even if we stock up in advance, many products have been sold out. Sales have increased by more than 150% compared to the same period last month!"

Hundreds of millions of dollars have been invested, and it is impossible not to see any splash.

Suri has certainly considered launching this kind of dog-skin plaster marketing campaign, which is likely to create the risk of class action lawsuits. After all, even in the mainland, where advertising is relatively relaxed, related issues have been discussed 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 being 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 a company. One of the key factors that has enabled Netflix Entertainment to develop so smoothly is its low initial customer acquisition cost.

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

Some companies invest a total of 100 to 4 million US dollars in publicity and promotion to attract million active users, while some companies only spend a few million 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 million new registered users, with an average customer acquisition cost of less than US dollars. At the same time, sales have increased significantly, and the popularity of the BuyMe shopping platform has been improved with the help of news.

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

really.

With the path of predecessors to follow, the development process was much smoother. If Su Rui had learned the traditional e-commerce advertising model of companies such as eBay and Amazon, he might have had to spend an additional ten or twenty billion US dollars in marketing and promotion expenses to incubate the company to a level that could 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 I should consider formulating some stock option incentive plans for you. However, although the number of newly registered users has increased significantly, the sales volume is still a little low. Some aspects are not in place. You should consider more how to attract users to place orders, especially recommending clothes with high added value to them."

Using a carrot in one hand and a stick in the other is a common tactic used by bosses.

In order to develop smoothly, BuyMe has already completed angel round and A round of financing in advance. The current market valuation is around 130 billion US dollars. After this promotion is over, it should be able to rise further.

Anyway, there are other shareholders to help share the pressure, so Su Rui doesn't feel any pain at all about 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 no longer matters. As long as it can make his life more fulfilling, Su Rui thinks it is reasonable to give employees more rewards.

CEO Bob smiled brightly and 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 sales will continue to increase significantly and we can really retain these new users."

Talking about the company's recent situation, Su Rui used the excuse of retaining high-quality live-streaming anchors to ask CEO Bob to consider re-signing a high-priced contract with several anchors including Olivia Cata.

Over in Silicon Valley, they are busy incubating professional live-streaming start-ups, which is equivalent to moving the TV shopping platforms of the year online. This has had some minor impact on BuyMe's live-streaming sales projects, and spending money to tie up top anchors is a very reasonable arrangement.

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

For example, there is a platform that specializes in adults and is headquartered in Canada. Even Suri would blush when she saw it.

As for why he entered such a live broadcast room, if you ask him, it must be an accidental slip of the hand. He 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 one has a rich private life. I just want to do some market research out of curiosity. (End of this chapter)