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How to evaluate the membership economy?

The content platform has embraced the membership economy in an all-round way.

QQ, Weibo and Tencent Music launched member value-added services very early, and Akieyi and Tencent Video Learning Netflix have achieved initial results. Now, if you want to see the exclusive new fan in station B, you also need to buy members. Not only these entertainment content platforms, but also Caixin, known for its serious news content, charged in 2017. Only by becoming a member can we see the full report.

The latest example is Zhizhi. In fact, “Super Members” and “Reading Club Members” have been introduced before, but the former membership service is the introduction of “Knowing University”, a sub-department of “Knowing University”, and this “Salt Selected Members” is the introduction of “Knowing Whole Station System”. Of course, previous members can upgrade on the original basis. With this as a node, we can explore a more complete business model, take small steps, and enter the era of membership in an all-round 上海419论坛 way.

01

What are the similarities and differences between Salt Selected Members and other Members

In 2017, the idea of “idea” and “organization number” were newly established, and some people were tucking up more and more like micro-blog or even today’s headlines. But then we found that KNOWLEDGE has not become another species, because KNOWLEDGE has always been its underlying logic and community has always been the cornerstone of its products.

Knowing how to be a member of salt selection can also see the shadow of members of other platforms, and at the same time, it is very knowledgeable. On the one hand, compared with entertainment content platform, it is knowledge-based platform, and its members’value-added rights and interests focus on dry goods rather than pure entertainment. On the other hand, compared with pure knowledge payment platform, Zhizhi not only provides members with knowledge systems in various fields, but also designs some special functions on community mechanism to open to members.

From the specific internal rights and interests of salt selection, it includes three aspects: payment content, community function and membership user identity.

Payment content is easy to understand, and similar to content payment platform dragonfly FM, Himalayan FM and so on, members get a lot of paid content by one-time payment. It’s not cost-effective to buy this part alone. It’s like a packaged meal.

However, different platforms can provide different levels of content richness. Private classes, Live lectures, salt magazines and e-books are all unique content that other platforms do not have.

In terms of community functions, some are similar to microblogging members, such as comment area mapping. For 95 and 00 later, Emoji could not express emotions completely, and various expression packages were the matching of throwing and receiving. The post-80s generation may not understand, but the knowledgeable young group is growing, and a generation has a generation of expression.

In addition, some members’community functions are more relevant to core user tonality, such as keyword masking. What can this function do? For example, if you don’t want to see the discussion about “Luo Yonghao” in the “Recommendation” algorithm information flow, you can set up the “Luo Yonghao” keyword shield, so that Luo Yonghao will no longer appear on your home page.

Even if you don’t like the “How to Evaluate” sentence, you can block all “How to Evaluate” questions from the recommendation flow.

As for membership user identity, this is the most “virtual” value-added rights and interests, it combines the characteristics of QQ members and Weibo members, such as exclusive widgets, dynamic top-setting. But it is not sure, those young users are in favor of plus, after all, our batch of 80 and 90 are also dressed up as QQ space, to buy QQ show this way.

For me, it really makes a lot of money to know that members can get paid content, to shield keywords, and to buy one gift two (extension rights), and to get PLUS and IQI members in Jingdong.

02

Why do we need to develop membership economy?

For IQYI, Tencent Video, B Station, Tencent Music and Netease Yun Music, high quality video content and exclusive music copyright will inevitably mean high production costs and procurement costs.

Since the Youku potato era, streaming media advertising has not been a sustainable business model. Membership economy, which has been verified by companies such as Naifei and Spotify, is a way of realizing the market value of tens of billions of dollars.

However, domestic copyright awareness still needs to be improved, and the habit of paying for quality content has not yet been developed. But it’s only a matter of time. To a certain extent, the video platform and online music platform have already provided a certain degree of user education for members’fees, knowing that the node is just in time to enter.

One obvious fact is that the more restrained the content platform, the more difficult it is to commercialize. Douban is a good example. But if it runs too fast, it is difficult to audit and filter the content. Typically, the information flow platform is full of all kinds of false advertisements.

Knowing how to develop the membership model is precisely between taking steps in situ and rushing forward. We have found a balance between advertising and membership to become a dual engine of commercialization. Douban chips and today’s headlines are hard to do, but knowledgeable and fancy arts are very suitable.

In the long run, the establishment, development and operation of the membership system has become an important part of the logic of the future development of the giants and unicorns. Attractive rights and interests are the main motive force to attract renewal fees and new membership, which is also an important determinant of the power structure in the second half of the Internet.

As far as knowledge is concerned, communities have primitive deposits, which are always paid for in various forms. The paid membership system acts like a funnel, screening out high loyalty users from ordinary users. With the growth of new youth groups and the increase of willingness to pay, knowing core users will naturally become members.

03

Accelerate the Integration of Content and Retail Platform Membership System

In terms of evolution, this set of membership system built by content platform was originally born in the retail industry. The first feature of the retail paid membership system is secondary payment. Consumers not only need to buy goods or services, but also pay for membership.

Nowadays, the membership status and consumption behavior under the payment system of digital products, services and consumer gathering platforms overlap, and there is no need for secondary payment.

After Amazon’s Price success, the membership system of content and retail platforms is accelerating integration. Initially, Amazon Prime’s membership service only included a 2-day free shipping service to encourage consumers to increase their purchases. Afterwards, Amazon introduced value-added rights such as movies, videos, e-books and music to Prime members.

Domestic Internet enterprises have also embarked on this road since 2018. On April 27, the rights and interests of IQIYI and Jingdong members were officially online. Users only need to buy IQIYI VIP or any annual member of Beijing East PLUS, and they can enjoy the rights and interests of two members at the same time after completing the rights and interests collection and activation. On August 8, Alibaba launched the “88VIP” plenary meeting. Membership plan, covering Youku, hungry, shrimp, ticket-hunting membership rights and interests. 2018 is also called the first year of membership.

This year, before knowing about Hejingdong, station B and Hungry Mou launched a dual membership service. Behind this convergence trend is the peak of the flow dividend.

Whether for retail or content platforms, the ceiling of online traffic dividend is obvious, and the era of extensive focus on market growth, scale and traffic has passed. Long-term operation of membership system is a key link for intensive farming of stock.

Essentially, the logic of the paid membership system is similar to that of the retail industry. Its efficiency lies in “flow * conversion rate * customer unit price * repurchase rate”. Multiple consumer demand drives retail enterprises to provide differentiated goods or services, while diversified knowledge demand drives knowledge platforms to provide differentiated knowledge services.

Whether it’s BAT or a unicorn like this, it’s facing a long battle for users. Payment membership system is a platform to cultivate high loyalty users and establish a long-term stable market. Its retail products or knowledge services will impress paying customers deeply, cultivate their consumption inertia and enhance their consumption loyalty. In the process of digging gold, how far can the platform go? It is the user’s time and paying behavior to vote.

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