Mi He has recently completed the Pre-A round of financing and is opening up a new round of financing, which will be mainly used in marketing, brand building, technology upgrades, product development and operations.
The days of hypermarkets and TV commercials are long gone. Electronic payment and social media are already infrastructure. In the 1990s, the most effective means of communication was 5 seconds after the weather forecast was spent on 100 million yuan; in 2020, text, pictures, videos, short videos, live broadcasts, etc. surrounded consumers, and the brand and information were completely overloaded. However, returning to the trust relationship between people has become the simplest and most effective solution.
You plant a grassy eyeshadow. You no longer rely on the recommendation of a cabinet sister or a celebrity endorsement. Instead, you will see the real sharing of the amateur on social media. You do n’t have to wait for a discount season when you buy a dress. Contact the familiar purchasing agent on WeChat. The role of disseminating information is no longer just the top KOL (Key Opinion Leader), but has become the KOC (Key Opinion Consumer) around you. They may be your friends and relatives, or you Trusted purchasing agents or merchants, more importantly, they are also consumers of goods, interact with you frequently, understand your true needs, and share reliable solutions with you.
“When we talk about consumer upgrades, we should not only focus on products and brands, but more on consumer relationships,” said Xiaobo Song, chief executive officer of Miho. Since then, it has been from the media and consumers, and now it is consumers and consumers. The influence of KOC should be given more attention. ”
But in real life, KOCs have many pain points. They are not respected by the mainstream discourse system like KOL. There are also thresholds and burdens in the process of sharing, finding goods, selling, and after-sale. In order to help KOC realize its self-worth and allow consumers to “find the right person” more efficiently, the Mi He team has conducted research on user needs for many years and launched the “Mi He App”, a sharing platform based on consumer social relationships.
On the MiHe App, KOC can share their lifestyle and good things recommendations through graphics, live broadcast, group chat, etc. Consumers can also find their favorite sharers by following and recommending, and trusting KOC Complete the purchase there. “In the past, you might have planted grass in Xiaohongshu, communicated on WeChat, and placed orders on Taobao. This kind of multi-platform jump is a burden for users, but it is also a real need and behavior. Mi He integrates them together Let people who love communication and sharing, and love to buy and buy can quickly discover each other, accumulate trust, solve the real pain points of consumer social relationships, and create value for users, “said Song Xiaoyi.
Honey App was officially launched on December 12th, 2019, and has so far acquired over one million users. The underlying ecosystem of the platform has been basically established. Next, we plan to acquire more KOC and consumers, and complete the precipitation of content, users and brands.
How can KOC, who has the right to speak, realize its self-worth?
The change in consumer relations is driven by two factors. One is that social media has dispersed the right to speak, and ordinary people have room to spread and express. The second is consumption upgrades. The Chinese market has accumulated a very mature supply based on years of experience in generation processing. Chain, the quality of the product has been fully guaranteed, the brand is objectively oversupplied, the information is completely surplus, and consumer decisions are more based on trust. This further proves that those KOCs who have deeper connections and full trust with ordinary consumers are those who have the “consumer right to speak”.
In fact, KOC is also a very large group. The reason why social e-commerce can develop rapidly is also because the social relationship of acquaintances is leveraged, so that those who actively send information to friends can also realize value. “Purchasing is probably the best understandable example in the KOC community. Purchasing and users have established a good trust link based on consumer relationships. It is this link that makes purchasing develop rapidly and is full of vitality,” Song Xiaoyue told. Relevant data show that the market size of purchasing agents has reached hundreds of billions of yuan.
Honey hopes to integrate this objective content of production, exchange of information, and completion of consumption to allow consumers to complete their consumption decisions in one stop. As a communicator, KOCs have a small range of influence but a deeper depth. They reflect on consumption, have a higher conversion rate, and have a traceable transmission path. But even if a lot of value is created, the KOC did not gain the corresponding respect, and the sense of existence and accomplishment was not satisfied. “Therefore, there will be an argument saying, ‘If you ca n’t afford KOL, you will vote for KOC.'”
So, Hehe must first solve the real pain points of KOC, so as to reach a wider user group with the help of KOC. “Different from influencers, anchors and starsKOCs have their own real lives. They are enjoying life, enjoying consumption and enjoying sharing, and we must respect their communication value and economic value, “Song Xiaoyi told.
Taking a real user case, the operation of an Internet travel company, because she frequently travels abroad at work, and also helps her friends around, but there is not a good tool to help her pass information and achieve transaction. “We hate the information about purchasing and wechat in the circle of friends, but they are very necessary when there is a shopping demand,” said Song Xiaoying. “These social relationships are generated based on consumption, triggered by consumption, and maintained by consumption. We need a Dedicated platform to improve communication efficiency. ”
In order for KOCs to be willing to use Honey Merger to help promote, the App must also meet their real needs. For example, Mi He has a live broadcast function, because many purchasing agents will use small videos to communicate with users in WeChat to let users see the purchase scene, and live broadcast can enhance the realism and realize real-time communication. For another example, in addition to actively following and recommending the system, users can also join related topic group chats through the “MEE group” function on the homepage. This is also a common scenario. Share information through group chat and get to know the reliable KOC in the group And make connections.
MiHe divides them into three groups according to their different characteristics, purchasing, DIY and talent. Purchasing is the overseas purchasing group in the conventional sense, usually sharing beauty and apparel products; DIY people usually make and sell their own products, mainly desserts, baked goods, and jewelry; the scope of reach is relatively broader, and they often share life , Recommended for all kinds of goods.
Drive products with user value, let KOC and consumers find the right person
For Miho, KOC is a key node user of the platform. They originally deposited some fans on social platforms such as WeChat, Weibo, Xiaohongshu, etc. Usually a KOC can bring 150 to Miho -500 ordinary users, Mi He will also provide some incentives to encourage KOC to produce content and bring more users. When these ordinary users enter the platform, in addition to communicating more smoothly with the original KOC they are concerned about, they can also recognize more “right people” who provide them with consumer recommendations.
At present, Mi He’s users are mainly women in the first- and second-tier cities, aged 18-45, who are also the most active in the consumer market.Workforce. Users can see all kinds of content in MiHe, and the platform has also formulated a set of rules. Only after users pay attention to KOC and establish contact with them, subsequent transactions can take place. Trust linked private domain traffic for more efficient operation and maintenance.
“A group of social e-commerce and content e-commerce has already educated the market well, and we have all realized the importance of social relationships in consumption,” Song Xiaoyi told. However, these existing platforms either lack the transaction link or can only use the existing relationship to simply send discount messages to the circle of friends or groups, instead of precipitating the content and communication. In such a platform focused on consumer social relationships, KOC and consumers can comfortably share their lives and consumption, and realize value.
In terms of business models, Mi He has also made a three-step plan for himself. At present, the ecological construction of 1.0 has been completed, that is, an active consumer social relationship chain has been established. Through product mechanisms and operating methods, consumers and KOC can quickly find each other, understand each other, and precipitate trust. At this stage, Honey Merger does not plan to build its own product supply chain or draw commissions during transactions, but will set detailed rules to ensure that users with higher information authenticity, frequent interactions, and higher transaction satisfaction can get more Exposure, let good coins drive out bad coins. The profit will mainly come from the deposit funds of the transaction and the withdrawal fee. “Honey will not now, and will never charge a commission in the future,” Song Xiaoyi said.
The second stage, which is the next development goal of Mi He, is to continue to improve the base and activity of KOC and ordinary users, precipitate content and achieve precise conversion. As we mentioned earlier, KOC ’s interaction with its fan base is closer and deeper. They have distinctive consumer labels and can also help brands achieve more efficient user reach. Therefore, Honeywell will also actively introduce the brand side at this stage, based on the KOC ecology to do precise marketing for the brand side, and build a product-media ecology to promote the production and distribution of high-quality content. At this stage, self-media services and brand marketing services will also bring more revenue to the platform.
In the third stage, the consumer social relationship within the platform has been fully recognized. Honeywell hopes to restructure the production relationship and achieve C2F based on a full understanding of consumer behavior. At the same time, Mi He will establish a transaction-centric data, finance, and marketing ecology, and realize cash in terms of big data and deposited funds.
The number of KOC groups is difficult to quantify, but the activity of social e-commerce and purchasing can prove its potential. Broadly speaking, everyone can be KOC. “Honey focuses on those huge groups that were neglected in the past, and our product philosophy is to change the world based on the user’s cognition. All our functions are only to restore user behavior and make them satisfied”, said Xiaoying Song. With each passing day, change is always happening, only the firmDrive products with user value can help us go further. “
Miahe has recently completed its Pre-A round of financing, and is opening a new round of financing, which will be mainly used in marketing, brand building, technology upgrade, product research and development and operation.