“Last time, we did a ‘cut-the-price’ promotion to give discounts on products, but I felt that wasn’t direct enough.”
"So what do you want to do?"
"President Lin, the red envelope giveaway you organized the other day gave me an idea. We can just cut the red envelope amount!"
This joint shopping festival is supposed to use Huasuan Pay, right? They're giving each user a big red envelope (cash gift), which they can send to other users via a specific link to participate in a discount, with different amounts dropping each time.
Finally, on Singles' Day, I directly transferred the money to their payment account.
Lin Chen thought for a moment and said, "Okay, go find Zhang Yiming and ask him to provide you with some technical support so that the event can be completed as soon as possible."
"Okay, Mr. Lin, hehe."
The announcement for Pinduoduo's promotion came out the following evening.
Users can participate in the daily "cut red envelope" activity on Pinduoduo, available on both computer and mobile devices.
You can cut the price yourself once a day, but there's no limit to inviting others. However, the same account can only help you cut the price once a day.
Each time, a random amount of money will be dropped, which can be directly exchanged for cash on Singles' Day.
Pinduoduo's announcement shocked not only users but also its competitors.
The competitors were scared off by the terrifying discounts Pinduoduo offered last time. Although they analyzed it afterward and found that Pinduoduo was selling overstock items, which is why the prices were low.
They also sell surplus stock, but they put it in their flagship store and sell it at the normal price. They sell as many pieces as they can, and scam as many people as they can.
Consumers are unaware of this. Some even bring clothes they bought on Pinduoduo to Taobao stores to complain, asking why the same item sells for 59 on Pinduoduo but still costs 159 on Taobao after the discount.
The competitors probably want to say that Pinduoduo is stupid for not making money, but they can only say that to themselves.
Later, they had no choice but to lower their prices as well. After lowering the prices, sales went up, but there was no profit. All the hard work in shipping orders wasn't even enough to pay customer service salaries. It was truly a job done out of love.
The users still vividly remember the fear of being ripped off last time. Although they had tasted the benefits, they vowed never to ask anyone to rip them off again.
They always feel like they've lost out if they don't cut the price to the very end, so they frantically call for reinforcements.
As a result, people started avoiding him whenever they saw him.
Later, they gradually felt embarrassed and agreed to pay a few dollars more, even though they were very reluctant. They knew they would lose all their friends if they continued like this.
I'm definitely not participating this time. I'll just watch, absolutely no involvement.
But they all received so many red envelopes!
No, I have to keep up, otherwise what if they get more red envelopes than me?
This damn competitive spirit.
Moreover, this time it's a direct cash transfer, so even if you don't buy anything on Pinduoduo, you can still buy a cup of Heytea.
So my brothers and sisters helped me cut a knife, and I went crazy again.
This time, everyone is calling for help, calling each other, you help me kill, I help you kill, and every day is full of energy.
The main thing is that the amount of money involved in this round of red envelope giveaways is quite substantial. You can usually get five or six yuan a day, and if you're lucky, you can get more than ten yuan.
It's clear this isn't one of those scams that gives you 13 cents each time.
Honestly, 13 cents isn't even enough to cover the data usage fee.
Clearly, Pinduoduo is serious this time. It's only the beginning of October, and there's still a whole month until Singles' Day. If you keep at this pace and persist every day, you'll have at least 100 yuan by then.
Oh my god, Mom, I'm starting to make money!
Indeed, when Huang Zheng initially proposed giving so much money, Zhang Yiming disagreed, feeling it was too much.
If it were anyone else, he would have thrown this plan in the trash long ago, but Huang Zheng is his brother.
So Zhang Yiming came to report this matter to Lin Chen, and to his surprise, Lin Chen agreed on the spot after listening.
"Mr. Lin, don't you think we've given too much?"
“Oh, Mr. Zhang, the money that’s given away can be earned back from other sources. Think outside the box. For example, you could put some brand advertisements in the red envelopes, or you could customize the red envelope covers with brand advertisements.”
Zhang Yiming felt as if he had been struck by lightning.
"Mr. Lin, your words are more valuable than ten years of study. I understand, I'll get to it right away."
Zhang Yiming relayed Lin Chen's words to Huang Zheng. After listening, Huang Zheng's mouth dropped open, and all his words boiled down to one sentence: "Holy crap, awesome!"
Soon, Pinduoduo began soliciting advertisers for its red envelope promotions.
Those brands were also shocked by Pinduoduo's methods.
While cursing Huang Zheng for being shameless, they frantically bid on the auction.
In the end, Pinduoduo made a fortune, not only getting back the money it gave to users, but also making a profit.
Upon hearing this news, Lin Chen smiled and said to Zhang Yiming, "Look at this, this is what doing business is all about! Users are happy to receive big red envelopes, brands are happy to have advertised, and only our platform is quietly making sacrifices. It's truly admirable."
Zhang Yiming smirked, but this kind of slick move really only Lin Chen could pull off; no one else could do it.
Otherwise, go check Taobao. They're still using the same tricks Lin Chen taught them last year for this year's Double Eleven.
What pre-sales, what cross-store discounts...
There's nothing new about it.
Jack Ma is also helpless. The ideas his subordinates come up with are all rubbish. One planner even suggested that Taobao could also give out red envelopes.
Jack Ma glanced at him and immediately kicked him out of the Double Eleven team.
Huasuan.com gives out red envelopes because it has its own social media app, Mixin.
While sending out red envelopes, they also promoted their own business. This is essentially sharing the advertising revenue from promoting the software with users, so they're not losing out at all. And judging from the current situation, the promotional effect is very good. This money is really well spent.
The same principle applies to Pinduoduo's "red envelope" promotion; it requires social media platforms for sharing.
Don't you know that social media has always been a sore point for Taobao? Are we just going to give away money through Alipay every day? Just for the sake of giving away money? What's the point?
This kind of brainless planning should just be executed.
However, Pinduoduo's red envelope advertising strategy seems to have been quite effective, so Jack Ma asked the head of Alipay to consider this approach.
The Alipay representative looked bitter, agreeing verbally but inwardly complaining.
Think about it some more? What are you thinking about? I just said that Taobao doesn't have any social media apps. Did you forget about it as soon as you turned around, Mr. Ma?
Without social interaction, who is this red envelope advertisement for?
Do you cut the red envelopes yourself every day and then check them yourself?
With only one or two views, advertisers wouldn't be willing to pay.
But someone has already been kicked out, and I don't want to be the next one. Oh well, I'll go back and hold a meeting, pass on the message, and let the people below figure out a solution.
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