Reborn: Billionaire in College

Chapter 68 Advertising Investment
Chen Pingjiang naturally didn't know what happened in the girls' dormitory, and in order to prevent Chen Pingjiang from knowing, several people even agreed that no one was allowed to tell anyone. Zhang Xinyue, who was so proud, was even less likely to interfere, and even decided not to meet or contact Chen Pingjiang.

As soon as I arrived at the company in the morning, Miao Bingwei came over with a happy face: "At 2 a.m. last night, the number of registered users on our website had exceeded 10,000."

Chen Pingjiang looked at the dark circles under Miao Bingwei's eyes in surprise and patted him on the shoulder: "Remember to rest. The road of revolution is still long."

Miao Bingwei shook his head nonchalantly: "What's the big deal? I used to stay up late to watch football games until dawn, and then go to work at nine in the morning." Looking at the data of Renren.com increasing little by little, Miao Bingwei, who treated it as his own child, felt so happy in his heart.

"By the way, the sign-in system and experience value system you mentioned in the last meeting are now online. You can try it out later."

Chen Pingjiang nodded and walked to his workstation.

"Boss, what is our job today?" Li Xi asked.

Chen Pingjiang glanced at him suspiciously, "Didn't we say that you would take a break after the second round of promotion? Why are you here so early?"

Li Xi chuckled: "I don't have classes in the morning, so I'm just sitting around doing nothing."

Among the first batch of six part-time employees, Chen Pingjiang was most impressed by Li Xi. In addition to his funny resume during the interview, he also had strong working ability and was proactive.

"Does Lao Miao have any ideas?" Chen Pingjiang thought for a while and asked with his head tilted.

Miao Bingwei pondered for a while and said, "The total number of students in the Jiangning campus of the two schools is over 20,000, and almost 50% of them have registered on Renren. As the trend spreads, the number of registered people will continue to rise, but the average visit time of users has not increased much. I think we should hold an event to increase the topic and interactivity."

"Where is Li Xi?" Chen Pingjiang turned his head and asked again.

"Ah?" Li Xi didn't expect the boss to ask him, "How about holding a school beauty contest? It would be a hot topic."

"You all have good ideas." Chen Pingjiang's right fingers tapped rhythmically on the table, his eyes unfocused, and he changed the subject: "But I think it's a bit too early now? Dongcai has about 15,000 undergraduates, faculty, and doctoral and master's students, while the Sports Institute has only 7,000. Dongcai has held a campus beauty contest, so will the Sports Institute do it? And a campus beauty contest based on the school is bound to be not very popular."

Miao Bingwei smiled and joked: "You think clearly in your mind, but you still have to ask for our opinions, pretend to listen, and mobilize our enthusiasm."

"That's right. I, Chen, never have the final say." Chen Pingjiang said with a smile, "The content department will continue with their previous work, while also keeping an eye on the website, banning, blocking and deleting problematic posts. The marketing department will be split into two. One team will continue to push forward towards the Normal University Police Academy. Since the quality won't improve in a short time, we will increase the number. With more people, there will naturally be more content, and the website will be more lively. When all the universities in Dongjiang are promoted, we will hold a competition for campus image spokespersons. Each school will select a spokesperson, and the final champion will sign a contract with Renren and be hired as the campus image ambassador of Renren."

"So what does the other team do?"

"Another team started to discuss advertising cooperation with the merchants around the two universities. There are three different types of advertising positions, namely banner, text link ads, and pop-up ads. Do not use floating ads, which will affect the user experience. There are two pricing methods, namely monthly and quarterly subscriptions and pay-per-click." Chen Pingjiang said. Li Xi frowned and asked in confusion: "I know about the monthly subscription, but with pay-per-click, will potential customers who are not from the store click on the ad, thus wasting the promotion fee."

Li Xi's consideration is not without reason. Merchants around the school naturally like their advertisements to be seen by students of the current school. If they are clicked by students from another university dozens of kilometers away, then they are invalid advertisements.

Miao Bingwei explained with a smile: "We can just place ads based on IP addresses. There is also LBS (location-based services), but the technology is not yet mature."

"Are you too optimistic? Can you expect these college students to negotiate? Should we recruit some experienced salespeople?" Miao Bingwei looked at Chen Pingjiang and expressed his doubts.

Li Xi also hesitated: "Boss, I want to attract investment, but I have no experience and don't know how to talk to merchants. Do I have brochures or something like that?"

Chen Pingjiang waved his hand: "What are you afraid of? We will have training in advance. There are templates for what to say and how to say it."

Chen Pingjiang is not too familiar with software sales. He would first make mindless phone calls to screen potential customers, then arrange a time to visit them and introduce the products. However, there is usually no hope at this point, as he needs to continue to manage the relationship in the later stage. Finally, he would hold a promotion meeting, find good people to create a good atmosphere, and then the deal would be signed.

Seeing that Li Xi didn't quite understand, Chen Pingjiang continued, "Boss, our store's promotion target is glasses. We recommend that you max out the total investment. There are three charging methods: CPC, OCPC, and OCPM. We also have compensation for invalid calls. We will help you design advertising ideas and ensure that the landing page is vivid and detailed. We will give you a table containing impressions and clicks every day to ensure your ROI and not waste a penny."

Li Xi looked at Chen Pingjiang as if he were a monster. He understood every word of this sentence, but when they were put together he was confused.

Where did all these advertising industry terms come from? He had never heard of them before.

The boss is such a weirdo, how come he looks like this? He’s only a freshman, but he knows so much. It seems like there is nothing he doesn’t know?

He was very suspicious since they all went to the same school and his boss didn't attend classes every day.

Miao Bingwei on the side shook his head and looked at Li Xi pitifully, thinking that this young man would probably be hit hard. He had already gotten used to Chen Pingjiang's various superhuman qualities and was even a little numb to them.

While going out to smoke, Miao Bingwei said with concern: "I have a general understanding of Renren's financial situation. You have been using the barbecue restaurant to support it. If the pressure is too great or the speed at which you make money cannot keep up with the speed at which you spend money on renting servers, I can help you ask for an angel investor."

Chen Pingjiang smiled, took a puff of his cigarette butt, and said, "As long as the advertising and investment promotion is done well, there will be no problem. Angel investors are not necessary. In comparison, I prefer investment institutions to come to me with checks in hand."

"The angel round looks at people, the A round looks at products, the B round looks at data, and the C round looks at revenue. I am very optimistic about the prospects of Renren.com. By directly omitting the seed round, angel round and PreA round, we can retain more equity and even have enough money without going public. However, you have to master the rhythm of financing and don't wait until you have no money to spend before raising funds." Miao Bingwei said.

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(End of this chapter)