Resources cannot be converted into cash and will become invalid upon expiration.

If traffic cannot be monetized, it is all wasted.

In the eyes of capitalists, less profit means more loss, Qiandu feels this deeply!

Before the group buying business emerged, it could only sell bidding advertisements and do some promotional work for hospitals, pharmaceutical companies, and the like.

It's bad enough that it gets scolded every day, the key is that it hasn't made much money. According to Qiandu's second and third quarter financial reports, its total revenue and profit continued to grow rapidly.

But looking at the world, Yahoo has been left more than one level behind its biggest competitor, Google. The only reason they can still be compared is simply that Yahoo has declined.

The market needs a new benchmark reference, whether it is Google trying to avoid antitrust investigations or capital needs a reason to counter Google.

In short, Qiandu enjoys nearly one-third of Google's market value with revenue and profits less than 2.5% of Google's.

However, compared with Google's full-scale development, Qiandu's development can only be described as unsatisfactory, and it was even once regarded by the outside world as having lost itself.

There is also no effective use of traffic resources. The most important reason for this is that there is no carrier in Qiandu’s own industrial chain layout that can carry out the monetization of huge traffic.

All new e-commerce attempts, including Youa, have, without exception, started early and arrived late. In the beginning, they were able to use their own traffic support to quickly make some noise.

Then, due to various reasons, such as lack of cooperation from the management team and lack of recognition from external shareholders, it finally failed.

However, industries in the market that are heavily dependent on traffic, such as the current Pinxixi group buying, are unable to reach long-term and stable cooperation with Qiandu.

Of course, one reason is that Li Zehua took advantage of Qiandu by signing the contract at a low price before the company could understand the situation clearly.

But there should always be a normal spirit of business contract, right?

In addition to the tens of millions or even hundreds of millions of dollars in bidding ranking income, Pinxixi pays every penny of the click-through navigation revenue.

In addition, with the cooperation between Hummingbird and Qiandu, it is possible to earn a stable and proportionally increasing income from advertising traffic, with a guaranteed annual income of at least hundreds of millions. Isn’t that great?
But Qiandu doesn't do that. It is more interested in the incremental revenue that the group buying market will bring and the stimulation to the capital market.

Telling stories and looking at expectations are what investors like most.

After realizing the decisive role of traffic in group buying business, it began to take action, unlike Pinxixi group buying which began to move towards platform-based operation.

Qiandu decided to do it himself, but he was still as slow and sluggish as usual, as if this was their family tradition.

The competition in search engines is fast, accurate and ruthless, but once you switch tracks, you immediately lose your ability to compete.

Compared with their peers who seize opportunities and press forward at all costs, their way of doing things is really worrying. They often take one step forward and three steps back, and have resources but cannot make full use of them.

No matter how loudly it shouts, in practice it is just like an old lady's foot binding. The process is long and boring. While others are running a hundred meters on the track, it is still looking down to check its shoelaces.

For more than a month, the team below has held countless groups and earned tens of millions of profits for the company, but the board of directors has not yet made up its mind what strategy to implement.
Whether there is a headquarters here or not, outsiders have no idea about the influence of the strong calm and conservative style.

But one thing is certain: the advertising revenue that comes from doing nothing has, to a large extent, tied Baidu's hands and feet, making it impossible for it to move forward with ease.

The geographical restrictions also more or less prevent it from walking on the edge of the rules like its southern competitors, often doing things that are slightly out of line but do not affect the principles.

In short, the authorities both love and hate them. Economic development cannot do without this group of daring and enterprising private entrepreneurs, but their bold and unbridled style of doing things is really a headache.

To borrow a phrase from the richest man in China, Wang: Tsinghua and Peking University are not as good as courage; opportunities are created by risking your own efforts.

But in the eyes of the higher-ups, this group of money-seeking, high-earning guys are like the ridiculous scenes in the movies.

Even if you keep an eye on it, you can still find some new movements, such as: I jumped out, I jumped back, come and hit me~
Fool.

Then, the hammer is hammered...

Qiandu walks steadily. Looking down from above, you can always see its smiling face, which makes you feel at ease.

However, in specific business competition, this stability soon revealed its unique flaws, especially with the advertising business department lagging behind.

While Qiandu and Pinxixi were competing fiercely in the first-tier markets, the advertising business department was still trying to continue negotiations with Pinxixi.

There is nothing else to say. After Pinxixi group buying began to transform into a platform, it continued to recruit and attract group buying companies to join across the country, which also led to more concentrated traffic.

The potential traffic advertising revenue contained here makes Qiandu's advertising business department jealous. They can't understand why the company should compete with Pinxixi?
Based on the current growth rate of traffic search, Pinxixi can provide at least 20 to 30 million yuan in search business expenses every month.

Instead of directly exiting the market, it would be better to support the establishment of the Pinxixi group buying platform as soon as possible. They are even imagining a good time when Pinxixi will contribute 100 million yuan in advertising fees to Qiandu every month.

Things are so magical, even though Li Yanhong repeatedly emphasized in the board of directors that the source of Pinxixi's traffic must be intercepted.

Traffic limiting measures include but are not limited to direct jump, secondary jump, search hiding, and low ranking.

But the business department pretended not to hear it, and in the performance reports submitted every week, the proportion of advertising expenditure contributed by the Qingyun Group was getting higher and higher.

Well, the boss and the board of directors only said to restrict Pinxixi, but did not say the same for the entire Qingyun Group.

What can the board of directors do?
Faced with the huge practical benefits, no one dares to demand flow control as firmly as before and devote all their efforts to developing their own group buying business.

Because as of the last month of this year, the group's total revenue just broke through 40 billion, not counting the advertising revenue from other businesses contributed by the Qingyun Group.

Pinduoduo e-commerce and Pinduoduo group buying have contributed more than RMB 4500 million to Qiandu this year, and the revenue is increasing at a very fast rate every week, and is expected to reach more than RMB 7000 million for the whole year.

According to the future revenue analysis report submitted by the business department, if Pinxixi continues to maintain this ultra-high growth trend, it will achieve an average monthly advertising revenue of over 100 million yuan in the next eight months.

Combined with the overall contribution of Qingyun Group, it is expected that in 2010, an advertising business contract worth more than 8 million yuan will be provided to Qiandu, which will account for more than 10% of the company's estimated revenue for that year.

After seeing the report, the board of directors was stunned.

Li Hongyan was also struggling. It seemed like things were going too far.

Should it continue to develop Qiandu’s own group buying business, or return to its core business and win over the largest single customer?
At the top, this wavering attitude is completely unacceptable when it is passed on to the front-line business team.

What should we do if the headquarters issues a notice one moment requiring intensified competition and expansion of market share and the next moment asks people not to offend major customers too much?
There's nothing to play with.

……

"When gods fight, mortals suffer. I'm so poor this month that I can't even afford to eat northwest wind. Instead of having this time to attend meetings and convey instructions from headquarters, I might as well go to the market and open two more groups."

"That's right. I really don't know what the point of holding a meeting is. I travel so far and waste my time on the road. If I keep doing this, I won't be able to close many deals in a day."

It involves the vital interests of front-line employees, and performance is related to commissions. The lowest-level sales staff simply cannot understand the thoughts of those above them.

Other group buying companies would like to keep their salesmen awake and look for enough manufacturers in the market to cooperate with. As long as they have the supply, they have everything.

As for them, they have no shortage of traffic sources. They have a lot of potential customers and don’t have to worry about group traffic at all. But what’s going on now?

We have three meetings a day, and I wish we could let the salesmen sleep in the meeting room. But meetings won’t increase income, as everyone has to eat after all.

The manager above was also helpless. He pressed his hand against the chattering salesmen below and said, "Stop whispering to each other. Let me make one more thing. I just received a notice from the head office..."

"It's like this again. What is the right thing to do? Just give me a straight answer."

This time, an impatient salesperson turned hostile on the spot, ignoring the shocked looks of his colleagues, and yelled at the confused manager:

"Last week, you said that the company decided to adjust the first position of the search bar to its own group buying project, and I have already guaranteed it to the customers.

They said that there would be enough traffic to ensure more sales than Pinxixi, but in the end, there was no movement after ten days, resulting in sales volume less than half of the expectations.

Although I don't understand technology, I know that this thing is not as difficult as I imagined.

Okay! Even if I don’t reach the sales performance set by the company, I can still get one-third of the commission. I’ll put up with it. But today, they banned provocative behavior and malicious digging of other parties’ customers. What’s the point of this? I might as well just join Pinxixi and earn more commission.”

After saying that, he threw his work badge on the table with disdain, and sneered before leaving: "You guys can mess around as much as you want, I won't serve you anymore."

The manager looked at the sales elite who slammed the door and left. He was so angry that he was shaking. He pointed his finger at him but didn't say a word.

Because damn it, he wants to run away too.

The front-line business has never had too many ideas. They just want to make some extra money to support their families. Qiandu is a large company with a strong reputation, but the problem is that it is really stingy!

Not only are the commissions given to the salesmen low, but the targets set for a single group session are also ridiculously high, under the euphemism of the company providing additional traffic support.

But the result is something that everyone can see with their own eyes. The high-quality goods that they worked so hard to bring back, the marketing plans they organized, and once they went online, the sales data was indeed better than that of ordinary group buying companies.

But it's not as perfect as the company claims.

In short, although it is free to use your own traffic, it ultimately depends on market reaction. You should set high goals in the long term. If you fail to complete the task, you will not get high income.

Salesmen naturally have no motivation to work hard.

This is understandable, because the company feels that the platform has great advantages, so it will reduce the profits distributed to those who actually do the work.

However, group buying is not an industry with high technical barriers or requiring strong capital to succeed, so almost anyone can rush in and get a piece of the pie.

On the contrary, those small companies that don't care about anything, focus on making big profits and distribute profits reasonably will eventually stand out.

The same problem existed in the history of Qiandu Nuomi, so even though it made a lot of noise, its actual market share is very ugly, and it is even not as good as Dianping and Meituan.

Now there is the Pinxixi group buying service, which offers huge advertising contract revenue, tempting the entire Qiandu top management to waver.

It seems that simply earning advertising revenue can also achieve the goal of telling stories to the capital market.

Why work so hard and down to earth when there are easy and risk-free shortcuts to take?
The salesperson below deserves to be in trouble.

In short, it was quite a hassle.

But on the other hand, it also proves a saying that if the resources provided by the platform are good, even if you just leave a pig there to execute, you can achieve good results.

Qiandu Group Buying has grown little by little under the guidance of this wavering strategy and is able to make millions of profits every month. As time goes by, earning over a thousand yuan a month is no longer a dream.

However, the information fed back from below is always distorted because the management will try their best to shirk their responsibility.

The information Li Hongyan received had gone through countless artistic processing. In short, he was also confused, happily confused.

Is this a determination to invest huge amounts of money to compete head-on with Pinxixi and dominate the group buying market?

It seems that the team building below needs to be strengthened, and the strength on paper may not be enough to win.

It would be better to accept the advertising contract handed over by the other party, and then set up a group buying platform together, leverage the power of the market, and do a business that is sure to make a profit.

In short, I can’t make a decision in the short term.

Li Hongyan also knew that there was another reason that prevented Qiandu from making an immediate decision.

That means Qiandu has no money!

During the same period, Tengda's revenue, net profit and market value were several times that of Qiandu.

Not to mention Ali, Taotao alone has a revenue of nearly 40 billion this year, which is equivalent to more than degrees.

Public data shows that the cash flow and cash equivalents in Ali's hands amount to 10 to 20 billion RMB.

Qiandu, on the other hand, has only one-tenth of its size, and the decision to use $2 million to repurchase shares alone caused a heated debate in the board of directors.

In the end, the resolution was barely passed after they were forced to share the profits according to their respective shareholding ratios and introduce new strategic investors without spending their own money or affecting the company's revenue and profits.

Ali can invest hundreds of millions of dollars in the takeout express delivery market, and is also preparing to stir up new disputes in the field of same-city delivery.

Qiandu is not so generous. If it loses hundreds of millions in the group buying market, those investors will tear it apart.

As for taking money out of your own pocket to subsidize the company's business losses?

I'm just dreaming, there's no such thing.

In this regard, Qiandu is not as good as Qingyun Group. At least Li Zehua holds absolute controlling rights. While his words are law, he is also willing to invest money in price wars.

If Google's withdrawal was not inevitable, he would even take out money to invest in it just to stop Qiandu from breaking the contract.

Li Hongyan never thought that he would be so crazy, but he was still stunned by the generosity he showed in the subsidy war.

I'm afraid this guy is not a lunatic, is he?
With that amount of orders, the daily revenue can be as high as 3 to 5 million. After deducting the costs, it is doubtful whether there is a profit of 500,000.

Even so, millions of dollars were thrown in every day during the subsidy war. How long will it take to make it back?

He made the estimate based on the cost per thousand degrees in the same period, but he never considered that in reality, not only would there be no profit, but it would also result in a loss of millions every day.

This is the difference in thinking logic between elites who are professionally trained and those who come from grassroots backgrounds. Li Zehua doesn't care about temporary gains and losses, so the best he can do is continue to beg for food.

Li Yanhong, on the other hand, was always calculating carefully and cultivating the market at a continuous loss. That was something that would only be done in the early stages of a company's establishment. Once the profit point was found, he would never again engage in a business that would lose money.

Well, in the eyes of many people, they subconsciously ignore the founding time of Qingyun Group and regard it as a mature enterprise.

Qiandu has always been good at playing a good hand of cards badly.

As for Ali, it is also unable to escape the influence of Taotao. No matter how well it does in the group buying business, it cannot impact its own base, right?

If it affects the company's overall development strategy, the shareholders behind it will not agree.

Even though Jack Ma is in charge personally and has invested a lot of resources, the salesmen from the Ali faction and the Qingyun faction are competing fiercely in the market.

However, the entire company's top management still hasn't reached a consensus, so we have to make adjustments as we go along.

Only Tenda performed slightly better. As soon as Pinxixi group buying showed signs of taking off, it was the first to choose to follow suit.

At the same time, negotiations on financing cooperation with Pinxixi have not stopped. Although there were brief accidents in the middle, the share price offered by Tenda has gradually approached Li Zehua's expectations.

While not idle at the negotiation table, Tenda also moved quickly behind the scenes. It only took Tenda two days to research Pinxixi as a group buying platform and suddenly realized the answer.

This thing seems to be the most suitable for traffic monetization on the QQ platform. Is there any communication software more convenient than QQ?

Whether it is QQ friends or QQ groups, the transmission speed is much faster than other competitors. Sharing group buying website links with one click is not a new technology.

If we take the group buying website under Tenda and learn from the Pinxixi group buying platform, a new group buying giant will emerge.

Relying on the countless and inexhaustible supply advantages of the Greater Bay Area, coupled with QQ's traffic channels, the combination of the two has unleashed tremendous energy.

The entire Tengda board of directors was excited. What could be better than sitting in the office, just moving your fingers and giving orders, and making tens of millions every month?
Currently, there are only a dozen websites on the entire Tenda platform. If it continues to develop, what if it can attract hundreds of them?
Just thinking about it makes shareholders and investors so excited that their scalps tingle. This is simply making money in the market!
In the Hong Kong stock market, the market value of Tengda, which originally stopped at around HK$2500 billion, has taken another step forward. Three thousand is not a dream, and four thousand is definitely not the end.

Tenda’s journey is under the starry sky and the sea. Relying on one billion users for external publicity, the company’s future is limitless!
Li Zehua was speechless when he received the news. Is this considered shooting himself in the foot?
“Fortunately, we are using capital to develop the market.

If you all work hard, there will be no room for me to survive!" (End of this chapter)