Breaking down the basic meaning of referral and the basic methods of referral can help us gain an initial understanding of the referral system of education companies through analyzing more referral cases on the market. However, one thing that needs to be explained is that referrals are not just a matter of the referral system. What is more important is a complete system that provides users with different social currency products for them to share at different stages throughout the entire learning process. First of all, before breaking down the basic ways of referrals, we need to clarify that social relationships are generally divided into several categories: One is a one-to-one social relationship among WeChat friends. This sharing scenario generally exists in social relationships among acquaintances, but it is also inaccurate because the other party may be a relative who helps simply for the sake of helping. One is the public circle of friends relationship, where you and I don’t know each other, and we only know each other through liking each other’s posts on WeChat. There are acquaintances here, and there are also friends who have liked your posts, but if they are interested in the content you post, then they are most likely the target users, because there is no request or interest relationship involved. The other is the WeChat community. The WeChat community may be a combination of the first two relationships, but the influence of the WeChat community is closely related to the roles and positioning of community members in the community. If the community member is an influential koc in the community, then the activity itself will be well endorsed and effective. However, if you just post some advertisements, the effect can be imagined. Judging from the above three types of relationships, the intimacy of relationships is generally WeChat friends > circle of friends > WeChat community, and the final referral effect is also positively correlated with the intimacy of the social relationship. The closer the social relationship, the easier it is to convert it into a full-price course student in the end. Therefore, for the above three types of social relationships, we have broken down the basic activities of referrals into the following categories: WeChat friends: group buying activities, task-based marketing activities Moments: poster sharing activities, effect externalization activities Community: Invite to support activities However, the above-mentioned types of activities do not exist completely independently, but may be integrated and merged together. The referral growth system is the same as the general growth system, and can break down the referral growth model belonging to each company. The ultimate North Star indicator for referrals is the number of effective leads. The reason why it is called the number of effective leads is that our ultimate goal must be to convert users into system course users. Only when the leads from the growth end are effective, the conversion rate will be high and the efficiency of CC will be high. Through the indicator of the number of leads, we can gradually split it into each channel through the factor decomposition model. Each channel is then disassembled through the full-chain funnel model in the middle, and finally a referral growth model is obtained. Next, let’s break down several basic methods of referrals under the mainstream. 1. Externalize the effect of poster sharing and referralWhy I classify poster sharing as a referral activity with externalized effects. The poster check-in is essentially the same as the check-in and cashback activities of the English training camp we participated in before. Both provide social currency in the form of pictures and texts that users can share in their circle of friends. Posters may be just the simplest social product that externalizes effects. Other social products may include videos of young teachers giving lectures, children’s after-class reports, children’s evaluation reports, children’s certificates, and so on. These social products must run through the user's entire learning life cycle. In enough scenarios, users are given motivation to post and social currency products. The motivation mainly includes two parts: one is spiritual motivation and the other is material motivation. Social currency products, as a form of spiritual motivation, give users the desire to show off. However, simply providing social currency products is far from enough for the current stage of referral development. What is more important is to provide incentives to stimulate users to share. A social currency product without incentives is like a dish without salt; it may look the same, but it has no soul. The most important thing about incentives and stimulation is cost accounting, that is, CAC accounting. If the CAC is too high, which leads to too low ROI, and the income is not enough to cover the expenses when the first order is placed, then it will be difficult for the channel to continue. Therefore, we can externalize the effect of poster sharing and referral activities into a unified growth model formula: Referral effect = number of participants in sharing * effective sharing rate * average number of people brought in * landing page conversion rate 2. Group buying activitiesTo a certain extent, the way things work in the education industry is very similar to that of the e-commerce industry. The education industry continues where e-commerce has left off, and the same is true for group buying. By taking certain courses, users are encouraged to invite their friends to join the group, but the form of group joining depends very much on the content of the group joining. In this process, only by continuously producing high-quality content can users be further attracted. Whether a group buying activity can be successful is closely related to the group opening rate, sharing rate and repurchase rate. Because it is a mandatory invitation action that requires responsibility for the results, the efficiency of group buying activities of some companies may have been declining. But from another perspective, group buying activities can also be used as a way for companies to accumulate traffic pools, bringing in fans through group buying activities and gathering fans in private domains. However, if group buying directly brings in users, the requirements for course content will be very high. The course content needs to be highly integrated with the product itself, so that the subsequent user conversion rate will be high. Similarly, we can break down the growth model of group buying: Number of group buying leads = Number of activity participants * Group opening rate * Sharing rate * Sharing conversion rate 3. Invitation and support marketing activitiesWhen a friend completes a certain action to support the activity, the inviter can get certain rewards. The assisting action here may be a click from a new user, forming a team, or completing an order. The higher the difficulty of the action, the higher the reward the friend can get. However, if it is directly motivated by the results, you need to think clearly about whether the qualified results can be converted into potential target users. In this regard, I really like MissFresh’s invitation support activities, which differentiate different rewards according to different results, so as to better bring in targeted users. Recently, it has been discovered that more and more K12 companies have begun to frequently carry out a series of actions in the private domain. Although it is difficult for most companies to solve the retention problem in the private domain, everyone seems to be exploring while taking action. After all, it will be too late if you wait until others have figured it out before taking action. The accuracy of the quality of users acquired by Missionbao is bound to be gradually decreasing, but if we can find a way to select accurate users in some way, we can also do many different actions through private domains. Some people are responsible for accumulating traffic pools by bringing fans through Mission Bao, some people serve users well through content, services and benefits, so that users gradually identify with the brand, and some people screen users through flash stores, points malls, user tags, etc., to further clean up users in the traffic pool, and then convert users through sales, social networks, etc. The theme type of each topic can cleanse and convert a wave of users, and then repeat this process, further cleaning users through different forms of topics. In addition to gathering traffic through Taskbao, K12 companies also need to retain users through various means. The most important thing is to find an efficient way to identify potential users who are suitable for their products, so as to better convert users. This is the end of the analysis of the basic methods of K12 referrals in this article. However, the essence of referrals is to enable users to take effective sharing actions and establish invitation relationships with friends. Author: Operation Wang's Growth Diary Source: Operation Wang's Growth Diary (yunyingwang001) |
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