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Essay/Pastoral
Source/Spiral Lab (ID: spiral_lab)
One New Oriental teacher left the e-commerce live broadcast industry, but more New Oriental teachers began to enter the live broadcast room this summer.
The former's departure has long been foreshadowed, which is nothing more than waiting for a decent ending of "true transmission". However, the latter's popularity came unexpectedly, just one week later, the live broadcast room became the top stream.
Luo Yonghao and his old employer completed another mission handover in the sense of time and space this summer.
Oriental Selection of Explosion
Strictly speaking, New Oriental is not a newcomer to live streaming goods. At the end of last year, Yu Minhong had launched New Oriental's live streaming goods platform, Oriental Selection.
But different from Luo Yonghao's situation of selling out on his debut, the early effect of New Oriental's live broadcast with goods was not satisfactory. Relying on Yu Minhong's personal IP influence, the first live broadcast could barely reach 4.6 million sales, which was not outstanding compared with the tens of millions of sales of "making friends".
After Yu Minhong gradually faded out of the live broadcast room, the scene view and sales volume of Orient Selection fell into a long-term low, In the seven live broadcasts from December 29 last year to January 4 this year, the cumulative sales of Oriental Selection was even less than 900000.
However, after dormancy for half a year, Oriental Selection unexpectedly became popular with "bilingual live broadcast".
Among them, Dong Yuhui, who is called "Jay Chou of Zhongguancun", has contributed a lot. The anchor of the "Terracotta Warriors" who hit his face from darkness, told the relevant knowledge about products in fluent English in the live broadcast room, and even randomly interspersed the famous lines of Aristotle or Eileen Chang.
It seems that it has always been the tradition of New Oriental teachers to be able to speak well. Whether it is Luo Yonghao in the past or Dong Yuhui today, the seemingly ordinary language always seems to have the magic power to move people. In this particular occasion, the ability has a sufficient place to use martial arts.
For example, when Dong Yuhui is promoting an encyclopedia, he can casually quote such a beautiful sentence:
"When you recite words, Alaska's cod is jumping out of the water; when you learn math, the seagulls in the South Pacific are skimming the coast."
Although different from Lao Luo's gag style of product interpretation, such language is also applicable to consumers in the live broadcast room.
In the live broadcast on June 11, Oriental Selection recorded a total sales of 21 million yuan in a single day, which was several times more than the first broadcast last year.
It is obvious that Dong Yuhui is not the only one who has made such a great achievement. More and more New Oriental teachers have begun to sing songs, teach English and play the electronic organ in the live broadcast room.
The explosion of the live broadcast room also directly drove the share price of New Oriental. On June 10, the share price of New Oriental Online Hong Kong stocks rose nearly 40%, On June 13, the intraday increase was even closer to 100%.
For New Oriental, whose market value fell by 90% last year, operating revenue fell by 80%, employees were dismissed by 60000, and various compensation and refunds and other cash expenditures were nearly 20 billion yuan, in the midsummer of 2022, it finally saw the glimmer of successful transformation.
The "non replicability" of New Oriental
When talking about Yu Minhong leading New Oriental to transform the live broadcast e-commerce business, Luo Yonghao once said without stint: "My former boss, Mr. Yu Minhong, I really admire him. He is about ten years older than me. When the education and training industry cannot go on, all the money that should be paid is not bad. In fact, at his age, it is also a good choice to retire, but it is great to try to make transformation with the team."
However, compared with his former boss, Luo Yonghao's live broadcast e-commerce business has had a smooth journey, almost never encountering too many frustrations, and the degree of success can be said to exceed every entrepreneurial experience of Lao Luo's previous life.
Of course, more importantly, live broadcast e-commerce can bring sufficient positive feedback, especially in terms of making money.
After only two years in the industry, Luo Yonghao almost successfully paid off all the debts he owed before and accumulated some capital to invest in the next venture. For Yu Minhong and New Oriental, such a counter attack script is undoubtedly the most suitable one.
Although compared with Lao Luo, the starting point of Oriental Selection was not smooth, fortunately, it finally seized a few opportunities and firmly established its foothold with the "bilingual live broadcast". Moreover, compared with other live broadcast studios, Oriental Selection has higher barriers and larger imagination space.
The research and analysis of ZTE Securities shows that: "Based on the accumulation of the education and training industry, Orient Selection is ahead of most MCN institutions in the industry in terms of content research and development, organizational construction and talent accumulation. At the same time, it also has unique brand stories and connotations, which we believe are not replicable."
With reference to the sales of 8 billion yuan in two years of making friends, New Oriental really has the opportunity to create a new world through live streaming. According to the semi annual report of Hong Kong stock New Oriental Online,
Judging from Yu Minhong's statements many times, New Oriental is really determined to develop the live broadcast with goods as a long-term cause, rather than a trial.
On his social media account, Yu Minhong once said: "My definition of New Oriental is to become an education company with educational products as the core. Products need sales channels, and I found that the most effective sales channel is to find agents, that is, live delivery."
At present, in addition to the Oriental Selection Studio, New Oriental has also set up a "New Oriental Studio" to promote New Oriental's educational products and other high-quality education related products, including books, intelligent software and hardware learning equipment, and learning related stationery and educational supplies.
Take over "Luo Yonghao"
The flow of live broadcast with goods will not always focus on Oriental selection, just as it will not always focus on Luo Yonghao.
Yu Minhong, who has worked hard in the business world for many years, naturally understood this truth. The frustrated tycoon made a comeback and the down and out company was transformed and reborn. Although this story can attract many people, it cannot be stably transformed into the company's revenue in the long run.
Even though the popularity of Oriental selection is at its peak, in fact, the sales volume of goods with you is not as good as that of many professional e-commerce live broadcast booths. Among the audience who pour into the live broadcast booths, in addition to some of them being able to pay fees, they may also be busy passers-by.
To win the favor of consumers for a long time, it still needs more professional and quality supporting support. In this regard, New Oriental does not have much experience.
Fortunately, New Oriental has a direct reference object, which is Luo Yonghao's live broadcast room for making friends. In terms of account model building, New Oriental has begun to learn from this elder.
At present, New Oriental has opened a number of vertical accounts, such as Oriental Selection's Fashion Wear, Oriental Selection's Beauty Care Makeup, and Oriental Selection's Books, Among them, the number of fans of books selected by Orient has exceeded 50w.
In addition, New Oriental is also stepping up its talent building for the live broadcast team. According to the information on the recruitment website, New Oriental Online has recently released a number of positions, including a dithering anchor, a short video editor, a delivery teacher, etc., of which the monthly salary of bilingual anchors is 50000 to 60000 yuan, and the monthly salary of delivery teachers and anchors is 20000 to 40000 yuan.
It is worth mentioning that the rise of Oriental Selection coincided with the "vacuum" period of the industry's leading anchor. For brands and platforms, they are happy to see the emergence of new forces with goods, which also provides a relatively solid soil for the growth of Oriental Selection.
Although the live broadcast e-commerce still has a broad market prospect, Spiral Jun believes that Yu Minhong and New Oriental will not only huddle in a small live broadcast room in the future, but will, like Luo Yonghao, use live broadcast with goods as a springboard on the road to transformation. Now, the investment is to save money for future dreams.
For people like Yu Minhong and Luo Yonghao, based on the personality traits of an entrepreneur, it would be too boring if they only took making money as their mission.
However, at some moments, entrepreneurs' choices can only be subordinated to reality, and they plunge into another strange water area. Luo Yonghao has successfully landed, but for Yu Minhong, he has just tested the temperature and coolness of the sea water.
