The name is “Awesome” and is first tested locally.

Investment of tens of millions, hard Gangmei group, but can not escape the fate of bankruptcy

Awesome first version of the design

The first version is mainly shared by images, videos, texts, topics, etc.

Featured is the ability to personalize the label on pictures and videos, record the mood of the beautiful moments around you; and share your food exploration shop, travel guide, life discovery and other content to other awesome users.

Third, market analysis: clear product positioning

Since my products are in line with the public comment and the US group’s market, I analyze the US group and the public from the product perspective to see why they can “monopolize” the entire life service market and plan for “awesome”. “specialty.

Investment is tens of millions, hard just beauty group, but can not escape the fate of bankruptcy

Data from 2017, slightly outdated

1. Awesome SWOT analysis

S: Product Advantage

Quality content and awesome APP have a variety of social communication methods. Users can send the activities on the app to the WeChat friends through social sharing, share to WeChat friends circle / QQ space / Sina Weibo) to meet the needs of users. It also broadened the communication channels of business activities, increased the exposure of content and APP, and formed a large amount of data reflow.

W: Product Disadvantages

Amazing APP started, the store culture has not yet formed, the function can not solve the user just need pain points; the core competitiveness is not outstanding, and the market acceptance cost is relatively high.

O: Opportunity

As a local app, it’s easier to get the attention of users.

The rapid establishment of business districts in the past two years means that large-scale catering stores have settled in. Grasping users during this period will have a higher profit.

T: Threat

There are some old-fashioned and big-name companies in the restaurant industry, such as the public comment, the US group, and some of the business models are similar, and there is no obvious advantage. The concept of high-quality life is created, and the user groups targeted are relatively small.

Four, trial run: fast iteration, polishing productsDetails

1. Initial iteration

After the 1.0 version was put into trial operation, there were already many products of the same kind at the time. On the one hand, the experience and characteristics are not yet mature; on the other hand, the business and operation mode of APP has not been verified, and it is basically “crossing the river by feeling the stones”.

Of course the opening is not very smooth, in the process, we quickly iterate. In the month of a major update 3 to 4 times, mostly structural revisions, and constantly optimize the direction of adjustment.

2. Seed users: initial community form

Since we are a community platform, the next task is to build content and subsidize KOL, accumulate seed users, guide UGC, and increase user desire to share.

We often organize offline activities, keep the seed users active and communicate closely, listen to suggestions from various users; even help us to kill the price with the boss at the party, talk about the cooperation mode – awesome to have these users, I I really feel satisfied and happy.

With good user reputation, we have swept the recommendations and awards of major application markets. We also began to participate in various commercial roadshows, entrepreneurial competitions, and communicated with the industry to explore future development models.

This is the time when the product’s highest song is rushing. Although it is full of hardships, it often goes all night with the friends. But it is full of passion and hope.

Looking at the praise and encouragement of users, I once had the illusion that the product is about to succeed.

3. A new round of product revision: official promotion, cooperation and win-win

In October 2018, after nearly a year of polishing, we have a new understanding of the product form and model, and we are fortunate to have been recognized by the local radio and television group, some business circle management companies and local self-media platforms; After the intention, we have carried out a new round of revision of the product and officially launched it.

Investment of tens of millions, hard Gangmei group, but can not escape the fate of bankruptcy

Designed after revision

At that time, it was the stage of the video content. We insisted on the main content, presenting recommended content through richer themes, transforming users, and letting more people recognize and extract the good places to go.

Keywords: Discovery shop recommendation – the best place to go to the city, to create the city’s most popular food shopping guide.

4. Audiovisual feast at the store

We have deep cooperation with the radio section, combining the main sonar shop section with the APP depth, and presenting the entire store process in a sound way.At the same time, combined with video, pictures, and text, the effect of the store will be better displayed, breaking through the traditional self-media operation mode. At the same time, the merchants in each business district and lot are connected to the content.

5. Rich on-site activities

The product has been on the line for many on-site activities, and there are red envelopes for customers. Reading can not only lead red envelopes, but also stimulate users’ reading and cultivate users’ reading habits; as well as other exemptions and rewards.

The participation of these activities is very high, and the operational mechanism of user fission is established.

6. Activity Builder

At the same time, in order to expand the user’s usage scenarios and user pools, we have a small assistant program in the organizing bureau, a productivity tool for exploring the store, board games, and other outdoor activities, and assisting the app to expand the traffic.

Five, the beauty of the fall: APP close countdown

With almost 10 months of hard work, the product has broken through 50,000 registered users – this is not easy for a local lifestyle app that is only open in second-tier cities.

The

period also triggered a chain reaction:

1. Lack of technical ability

The number of users has skyrocketed and the server has been down forever.

In a live event of 10,000 people, due to the excessive traffic and the front end of the show, the progress of the event was very bad – spend money to buy a bad review.

Because of technical limitations, many of the envisaged features and gameplay can only be compromised.

2. Community tonality is seriously out of control

A large number of users of different portraits poured in at the same time, causing UGC content (video, comment) to violate the original tonality.

In order to cater to the promotion, slogan is adjusted to “eat, drink, and play without spending money”; plus the main push for some welfare incentives, the content is not so good, some seed users are gradually lost.

3. Cash withdrawal risk

Before I also said that because of the need to crack the extension and cultivate user consumption conversion, we joined the red envelope drainage, and opened the withdrawal port.

Although we advocate the use of cash red packets to offset consumption, we have also made restrictions on cash withdrawals; but it makes users more willing to keep cash withdrawals instead of taking consumption. When APP stops operating, it still owes a large amount of users. Penalty.

4. Financing failure

Although there is a good place in product operation data and product experience, but the team’s lack of market ability, can not verify the business model, leading to major investors are only cautious observation, not dare Easy to add investment.

At this point, the financing cannot be made and the company counts down the countdown.

5. The last struggle

In June 2019, the company announced that the project had entered the closing countdown and was about to liquidate the company.

Looking at the companyThe layoffs, the team has been reduced from more than 20 people to 10 people, the company has been unable to bear the cost of expensive short video community operations; we decided to transform, temporarily set up an outsourcing team, do small money fast procedures, and provide design outsourcing business.

In the first month, it also earned about 100,000 yuan, but it didn’t take long for the new business to be docked and the old business maintenance, so I could not take care of the management of the awesome.

The final self-help operation failed, and I admitted that the project abortion was also a good choice, and finally faced up to the failure of this product.

6. Ending

In August 2019, “Awesome” was officially closed, and those partners whose accounts still had balances were registered and settled by way of material payment.

During the

period, the news of awesome stop operation was also published in the headline of the local evening newspaper. The comments were sighing, pity, and old users… I’m sorry, let you know awesome in this way. .

Six, product resumption

1. Product positioning needs to be differentiated

The initial positioning of the product is to share the community in the same city. From the beginning of food, it gradually expands to all aspects of other life, and builds a platform for life communication with personality and taste.

However, when developing users and business cooperation, they gradually deviated from the direction, making the products close to the public comments that everyone knows, and eventually lost their features.

2. Cash extensions are a good thing, but be careful

At the time of the operation, due to the initial stage, the store culture has not yet formed, the function can not solve the user’s just need pain points, the user usage scene is not clear enough, the registration amount and retention rate are not too high; investors want to quickly crack Guest, decided to go online similar to the reading red envelope function of the fun headline APP, and open the withdrawal of the entrance.

It turns out that premature development of cash and cash withdrawals has prevented users from placing orders.

3. Doing community needs to be raised slowly, but not at speed

The tone and atmosphere of the community can’t be developed overnight.

In the early days of the community, the quality of users should be strictly controlled. Premature promotion will lead to non-target users flowing into the community.

You should study more excellent communities. If you need an invitation code to register in the early stage, you need to answer a bunch of questions to become a member. These measures are effective in maintaining the purity of the early community.

4. 200% value data

The sooner you build a multi-dimensional data report analysis system, the more you can reduce your decision-making mistakes. For a year and a half, our team only used a basic statistical system such as Union.

Until the last half of the year, when we went to build a detailed data analysis system, we realized that the previous failures were traceable.

Data is notWill tell you how to do it, but will tell you how to avoid failure.

5. Lightly loaded

Although the rapid iteration has been done in the early stage, the most community-based platforms, especially the tool attributes are not the core competitiveness platform, can be more light and easy.

Because of the direct development of the app in the early stage, too much energy and money are invested in it; if I come back, I will choose a public number, or a small program and several new media personnel, and I can quickly land the project.

For example, the industry is quite hot around the United States, xx is a bit of cattle.

6. The most important thing is to confirm and verify the correct business model

In the process of quickly verifying the market, the market has been in a lagging stage, talking about business and finding cooperation; although I have joined the market, I have more energy to spend on product maintenance.

A lot of business model strategies are not verified to fail, but are not yet verified, which is one of the key reasons for project abortion.

Seven, written at the end

The story and summary of the life cycle of this product, I hope to help you, for me to write is also a release.

Yes, I closed a company with a million investment.

At the end I want to thank a lot of people.

Thank my boss, thank him for his trust, be responsible for product management of this project; thank my mentor, friend, when I am in trouble, can give help and advice; thank my colleagues who have worked side by side for two years, Although there are some to come, it is also memorable for each technical review meeting.

I hope that after the end of this journey, I will be able to embark on a beautiful journey.