Long-termism in Eastern Selection

$ New Oriental Online (01797) $ 1. Multi-platform, multi-channel. Not only to avoid the risk of relying on a single platform, but also to meet the shopping needs of consumers. Because different consumers have different channel and platform preferences, some are even insurmountable. Some people just don’t like TikTok. When the time is right, you can launch your own APP grandly.

2. The anchor team fights. It can not only allow the anchor to fully rest, prepare, and study, but also avoid people taking tea to cool off. Douyin live broadcasts goods, “Crazy Little Brother Yang” has the strongest ability to carry goods in a single game, but it can only be broadcast twice a week. Leaving his brothers, the live broadcast room can’t play.

3. No pit fee. In this way, I am not subject to the merchants, what to sell, how much to sell, the initiative is in my hands. Also, you can get a higher rake.

4. No traffic, no advertising, no low-priced or loss-making products to drain traffic, which greatly reduces operating costs, attracts real consumers, and reduces the return rate.

5. Celebrity live chat. With the help of celebrity effect, it not only spreads knowledge, but also diverts traffic and brings goods.

6. Outdoor live broadcast of agricultural assistance. Respond to the call of rural revitalization, publicize the great rivers and mountains of the motherland, inherit excellent traditional culture, promote local specialties, and achieve a win-win situation for local governments, businesses, consumers, platforms, farmers, and Oriental selection. Helping farmers outdoors, attracting media attention, local media spared no effort to report, and free publicity for Oriental Selection.

7. Mainly attack agricultural products. Do the hard and right thing, compete in the big blue ocean, give full play to the credit advantages of New Oriental, and endorse the products. Why do I object to Dongfang’s selection of baijiu, because it is already a red ocean that can no longer be popular, and the certainty is not high, and it is not suitable for promotion in live broadcast rooms with children.

8. To build the Oriental selection of independent brands, to accumulate brand assets, and to be a century-old store. The brand is the most important asset of a company, it belongs to the company itself, and the platform cannot take it away, the channel cannot take it away, the anchor cannot take it away, and even the founder cannot take it away. Simply live streaming and bringing goods can light assets and make quick money, but cannot accumulate brand equity.

Hua Shan, founder of Hua Yu Hua Consulting, said that the two main purposes of marketing are to buy my products and to spread my good name. Consumers buy the grilled sausage selected by the East, and if it is delicious, they will recommend the grilled sausage to the people around them; consumers buy the Taiping Houkui selected by the East as a gift, others drink it and think it is good, so they may place the order themselves next time. And probably recommend it to more people. If you only bring goods to others, that is, to make wedding clothes for others, the benefits to yourself are much less.

The reason why Coca-Cola is so powerful is because of its strong brand. Even if all the current channels are shut down and all the machines in the factory workshop are smashed, it can still make a comeback.

Therefore, it is the most important mission of Dongfang Xiaosun to firmly make high-cost self-operated products and make “Oriental Selection” a synonym for healthy and beautiful life, high-quality agricultural products, and the first choice for gifts.

After the self-operated products are extremely abundant and the logistics is smoother, the ceiling of Dongfang’s selection sales is still very high.

To sum up, with a set of punches, Eastern Selection produces what Charlie Munger calls the lollopalooza effect: two, three or four forces working together in the same direction, you usually get more than just a few The sum of the forces is like the critical mass in physics. When you reach a certain level of mass, you can trigger a nuclear explosion.


Disclaimer: I own New Oriental Online, the views in this article are inevitably biased.

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