Wonderful Quotes from Speakers at the World O2O Expo

On January 17, 2015, the first World O2O Expo, guided by the Internet Society of China and co-sponsored by the World O2O Organization and Photosynthesis Capital, was successfully held as scheduled at the China National Convention Center in Beijing. The O2O Expo had a luxurious lineup of guests covering the entire industry chain of the O2O industry. Many heavyweight guests spoke at the conference, and their sharp and profound analysis benefited all the audience. The atmosphere at the conference was quite warm, with all kinds of witty remarks emerging one after another. The speeches of industry leaders were brilliant and concise, and many insightful speeches, if analyzed in depth, could be written into a thick industry guide book for each sentence. The speakers in the afternoon talked about their respective understanding of the meaning of O2O, shared more operational experience, and described in detail the various difficulties faced by entrepreneurs in the O2O field, as well as the corresponding solutions:

In this regard, all industries are actually similar, but we need key information and key technologies. Here you have the opportunity to surpass the West. Why? Our current smartphones, high-speed networks and various high-performance devices we use now can solve many problems we face. The segmentation of data and user information, with its segmentation, many brands cannot fully understand our customers. We have different identities, for example, you have different emails, you have different social network accounts. On the one hand, the identity is refined, and on the other hand, the platform we use to contact customers is also refined. For example, online e-commerce tools, offline sales tools, etc., in many scenarios, your interface to contact customers is also decentralized. So if we are faced with such a decentralized situation, how do we understand our customers? Here, our smartphones are very important. Because we can integrate these to understand the environment in which customers are in. For example, their cars are now connected to the Internet through smartphones, so we can see what customers' driving habits are like, and we can also measure our health and exercise through the Internet. At the same time, we can also measure our emotional situation, whether we want some comfortable environment, or an environment where you need to concentrate on work. If you understand these different environments, we can understand how customers make choices. So we can see online and offline that if we look at a business that wants to acquire new users, there are new features based on this, such as the situation of your business, how much inventory you have, and what your competitors are doing?

——Rob Brosnan, senior vice president of strategic affairs at StrongView, analyzed how to accurately understand customer information when user identities are refined and enterprise platforms for contacting customers are refined. Smart phones should be used to "profile" users. The situation described by Rob Brosnan seems to be a scene from a science fiction movie. Only with a futuristic mindset can the most valuable business opportunities be discovered.

Considering the reason why O2O has come about in the past many years, such as Internet finance, Internet education, and e-commerce, its essential logical cause is one thing. China's economic development over the past decade has brought about a rapid increase in per capita or household disposable income, which has led to an increase in your consumption awareness. The problem facing China is that in every industry, the providers of offline solutions to services do not meet everyone's needs. In the past eight years, in the retail industry, if you were in a second- or third-tier city, and as a young person you went to the largest local department store, you usually faced the problem that this department store might only be available in your city and not elsewhere. Many of the things sold there were brands you had never heard of and the prices were very high. What was the consumer's awareness? The problem he faced was, "Do I have the ability to buy clothes for 1,500 yuan?" Of course I do, but the solutions faced by the offline retail industry are different from my expectations. We also have the same problem in the service industry.

The same is true for Internet finance. When we talked to Professor Zeng, we said that Internet finance was not caused by Yu'ebao, but was just triggered by Yu'ebao by chance. When per capita investable assets or family investable assets reach a certain stage or a certain amount anywhere in the world, there must be an innate requirement, called asset allocation and wealth management. The offline counterpart solution is banks. When people's investable assets reach this level, banks are unable to provide good enough solutions to wealth management and asset allocation needs. Therefore, this demand was triggered by Yu'ebao.

——Li Feng, partner of IDG Capital, analyzed the reasons for the rise of the O2O field. The fundamental reason is that China's economic development over the past decade has led to a rapid increase in per capita or household disposable income, which has led to changes in consumer demand and consumption patterns. China's current economic development is still rapid, and per capita or household disposable income is still growing. If we continue to think along this line of thinking, we may be able to predict the future development model of the O2O field.

I find that from now on, China, for the first time, I feel there is such an opportunity, that is, for entrepreneurs and eventually start-up companies, when you provide consumer services, if your company itself has very good what we call positive values, or universal values, or ideal values, when you have these things from the inside out, such companies will have the opportunity to be taken seriously and respected as successful commercial enterprises in China for the first time. This was difficult in the past, but there will be more and more of them in the future, and there will be more and more companies with social significance. The reason is that from now on, many of our young people will serve as so-called consumer opinion leaders. Simply put, because of their age and experience, they have gone beyond simple consumption based on food and clothing, and they want to do some so-called spiritual or character-based consumption with physical values. This is determined by the growth experience of the group. Entrepreneurs with such abilities and entrepreneurs with such characteristics are being respected or appearing on the stage as business leaders in the Chinese business society for the first time. I think this is a great progress.

——Li Feng, partner of IDG Capital, talked about his perception of the changes in the temperament of Chinese enterprises. An enterprise with a firm spiritual core is one that can survive and rise in the future. This is caused by the changes and progress of the times, and is not an empty concept.

What is our concept? O2O is a very popular word, a word that is on the cusp of the trend. We think the core is to do it online and offline together. This sentence is very simple, but it is a very important concept. Looking at the offline from the online perspective, it is unsuccessful to simply look at this line. The logic of offline business will not change because of O2O. Our daily transactions, even fast food or beauty salons, the basic business logic will not change. What is more important? More familiarity with offline transaction links, how to use online resources to improve offline transactions, either to improve its service experience, or to improve its service process, or to increase its added value. This is the most important thing. We look at our real estate e-commerce based on this attitude.

—— He Yinyu, CEO of Leju Holdings Co., Ltd., talked about his understanding of the O2O business philosophy. Offline operations are fundamental, and online services are the icing on the cake. The basic business logic will not change because of the emergence of O2O.

On demand.

—— Lian Chang, a serial entrepreneur, angel investor, founder of Flight Butler & High-speed Rail Butler, gave a highly concise summary of the O2O business philosophy. How to understand the "needs" of customers and how to achieve the subsequent "achievement" are the two key points that O2O practitioners need to do.

Speaking of challenges, since we chose this category to enter at the beginning and we have been doing it for so long, we know that we may face various challenges in the future, especially in this aspect. I think that the basic attitude of entrepreneurs is that we are not victims, we are problem solvers. From the perspective of problem solvers, our attitude towards things like this is, one, not to fight and two, not to compromise. If you don't fight, since you have chosen to start a business on this land, you must accept the constraints that the land has given you. Don't compromise. We may change our methods but we won't change our dreams.

—— Zhu Yueyi, co-founder of Yidao Car Rental, talks about how to face difficulties in the process of starting a business. You should have an attitude of "ignorant optimism" and regard yourself as a problem solver. Problems are challenges, challenges are business opportunities, and starting a business is about solving problems.

I think there are four words missing: eating, drinking and having fun. I think that will continue to advance rapidly in 2015. President Xi has been cracking down on high-end eating, drinking and having fun. However, the eating, drinking and having fun of ordinary people will continue to grow rapidly in the next one to two years. I hope that Changba is a point in this regard. In the future, there will be more companies that will be disrupted. The entertainment industry has not changed much in the past five or ten years. We need to find the real pain points of user needs and solve them at this point.

——Tian Ran, co-founder and technical vice president of Changba, summarized the development trend of O2O. Entertainment, life and popularization are very important development trends in the O2O field in the future.

When people talk about O2O, few people mention the supply chain. The biggest challenge for the catering industry is the supply chain. How can you quickly make your products and quickly deliver them to customers? This is a difficult thing. We see that the upstream of the catering industry is becoming central kitchen factory-like. Many brands have overcapacity. Traditional catering does not need these things. We can get good products. Good products can be used in the O2O way to provide standard customer experience. You can also sell your products very quickly. O2O timeliness is too important. Catering must be delivered within 15 minutes or 30 minutes. You want to ensure immediacy. We think the real challenge is that when you do O2O, how do you understand the essence of your own industry? Which O do you work hard on or work hard first and then hard? This is very difficult. We also want to say that it is meaningless to make an APP or WeChat account. If you really do offline peripheral outlets, the outlets have no problems. If you can't deliver to people, it's useless. We cooperate with almost all platforms, but we found that Baidu has the largest volume. Baidu feels like collecting corpses. The biggest difficulty is to always adapt to this change and adjust your business logic at all times. This challenge is still quite big.

——UCloud’s COO Hua Kun discussed the biggest challenge facing the O2O catering industry. The “supply chain” issue he discussed to a certain extent integrated the views of Mr. He Yinyu and Mr. Lian Chang: the basic business logic will not change due to the emergence of O2O, and O2O must be based on demand.

All O2O companies cannot win if they don't have strong ground forces. You can only defeat online companies with advantages by doing online marketing. We are also building ground forces. From June last year to now, we are not only a payment company. To be a payment company, we need to build ground industries. You can imagine how crazy this industry will be in the future.

—— Qiu Yuekun, CEO of iBaiyun Billing, made an analysis of the development trend of the O2O field, which is worth pondering. While the O2O industry is developing rapidly, it is also landing quickly.

The collision between the traditional catering industry, the most traditional and the most modern industry, in fact, I don’t particularly agree with the two industries, but it is easy to understand. I think that the traditional catering industry and scientific productivity, in fact, the Internet is actually a scientific way of providing more convenient services. From the perspective of Internet companies, I think the Internet catering industry is called the Internet catering industry. From the perspective of the catering industry as the main body, I call it the catering industry Internet. This is a collision. In a word, whether you are traditional or non-traditional, it’s the same. It’s just that if you don’t keep up with the times, you are called traditional, and if you keep up with the times, you are called contemporary. In fact, every industry should be a contemporary industry. No matter how you understand it, I think the catering industry should embrace the Internet. This is a compulsory course. Today, I join to represent the catering industry market. It is necessary, otherwise you will be in danger.

——Wang Gang, Chairman of Meizhou Dongpo Group, gave a simple and accurate interpretation of O2O. Internetization is scientific and modern, and all contemporary enterprises can and should become O2O enterprises.