How does Jingdong and Qinqin senior people look at crowdfunding?

The data for November this year shows that 17 major product crowdfunding platforms in China have successfully reached nearly 1,200 projects. What is the driving force behind many smart products competing for crowdfunding platforms?

Conference guests

Crowdfunding CEO Sun Hongsheng

Qinshang Group Co., Ltd. Chairman Li Xuliang

Listening to the Wind Peaceful Founder Cloud Sky

Jingdong Crowd, Senior Manager, Intelligent Hardware Department, Liang Botao

Golden Seed Venture Partners Lei Zhonghui

The newly released "Crowdfunding Service Industry Annual Report 2015" shows that, as of the first half of this year, of the nearly 200 Internet crowdfunding platforms that were launched online, the product crowdfunding platform accounted for the vast majority of the industry, and the industry continued to heat up.

In this regard, Jing Botao, senior manager of Jingdong Crowdfunding Intelligent Hardware Department, said that for startups, through product crowdfunding, they can achieve financing, marketing, channels, etc., and they can also find the first fans. Recently, the LED company Jinshang Optoelectronics, which has entered the smart lighting industry, has also launched a floor lamp that integrates interaction and security into one and participates in crowdfunding. Li Xuliang, chairman of Qinshang Group Co., Ltd., said that he was determined to pass the product crowdfunding test to test the market reaction.

Product crowdfunding, which has almost become a "designated action" for makers and consumer products companies to launch smart new products. But where is the applicable boundary? How many projects really bring about the desired results?

Topic 1: The data for November this year shows that 17 major product crowdfunding platforms in China have successfully reached nearly 1,200 projects. Many smart products are competing on crowdfunding platforms. Even the listed companies such as QinShang Optoelectronics are making fun, what is the driving force behind this?

Remarketing light financing

Li Xuliang: Recently, we first came into contact with crowdfunding when we pushed the smart new product “Cybersky k1”. In the common people's cognition, the light is just for lighting, and we have added intelligent elements that integrate big data, cloud platform and internet of things, and can be controlled remotely through the mobile phone. For example, the old man slips at home, and the sky-eyed k1 can “perceive” and send out alert messages in a timely manner; the user can define the alert area at home on the APP. When a thief crosses the line, he will automatically warn us. The position is "the brain" wisdom steward. Will people in such cross-border products accept it? We have no bottom in our hearts. After all, the concept is very new and the price is relatively high. Passing crowdfunding to verify the acceptance of the market is more reliable.

Yi Yuntian: We are the smart hardware for personal safety positioning. Crowdfunding is used almost every time new products are released. For most projects, this is a cost-effective way of publicity because crowdfunding platforms are free, but if you use other online channels to promote spending. In addition, through crowdfunding, you can make money and play a pre-sale role.

Liang Botao: For start-up companies, through crowdfunding, products can be used for financing, marketing, channels, etc., and they can also find the first batch of fans and receive timely feedback from target users. Taking the Jingdong crowdfunding platform as an example, we provide Jingdong Zhongchuang Ecological Resources for enterprises from the financing platform to the scenario incubation platform, including traffic, marketing, law, logistics and so on. Some vendors may have crowdfunding considerations for promotional products, but this is not the mainstream.

Lei Zhonghui: The focus of product crowdfunding is to promote marketing, and raising funds is secondary. Because the growth rate of users is not directly proportional to the supply of crowdfunded products, the number of the latter is increasing, and the crowd of investors is still small. It takes time for us to accept a new model. Faced with a large number of geek-like products, if it is not a project initiated by friends and relatives, it is seldom paid for before the product is officially released.

Topic 2: Product Crowdfunding has been criticized by the industry for excessive proliferation. What kind of product is suitable for crowdfunding? Does it have disadvantages?

Innovative products are available for crowdfunding

Liang Botao: First of all, the team behind the product must have a certain development prospects and a good business model, so that the relevant services of the product can be guaranteed, so as to enhance the user's trust. Followed by the product's innovative and eye-catching product design. If there is no eye-catching design, but there is a sense of purpose, it is also a test of the standard for the product to receive support and praise.

Li Xuliang: I did not consider any applicable restrictions on product crowdfunding, or bring about bad influences. Because the promotion of scientific and technological achievements is very difficult, it is always a good thing to attract market attention at a low cost. Like our crowdfunding trial, we must ultimately implement the finished product performance. At least in the circle of friends and peers, there are already many people discussing this new product, and it is still proven to be effective.

Yi Yuntian: Product crowdfunding is mainly aimed at young people who are avant-garde and love to play 3C products. If the target group is this group, then it is suitable for crowdfunding. All in all, this model is more suitable for those innovating companies that are still struggling and really need to get public support through exposure.

Sun Hongsheng: In the mass-market platform where smart hardware is gathered, the types of projects initiated in our crowdfunding network are more diversified, including cultural and creative, music, entertainment, publishing, and agriculture. I think that as long as it is innovative, no matter what category can be crowdfunded. Of course, there are differences in specific operations. Standardized intelligent hardware can be freely placed on the platform. As in the field of culture and arts, national control is relatively strict. We must have professional personnel to check it.

Lei Zhonghui: Product crowdfunding is a tool, it does not matter the pros and cons, in principle, no matter what innovative products can be crowdfunding. But relatively speaking, I think consumer products will be more suitable because the market demand will be larger and the audience will be wider.

Item 3: Crowdfunding is so hot. How many projects can bring about satisfactory results?

No social crowdfunding

Yi Yuntian: Earlier product crowdfunding results can be achieved, but now there are too many projects and it is difficult to get any promotional resources from crowdfunding platforms. If you just hang on the platform, it is easy to drown in the ocean of crowdfunding projects. In other words, companies have to do their own marketing and promotion to project drainage, which is the case for projects with large crowdfunding amounts.

Li Xuliang: The situation of each project is different. As an old LED company, Qinshang Optoelectronics is also trying cross-border Internet+, but deep integration is indeed a challenge for us. This time participating in the crowdfunding is not just catching up with smart homes. last bus? But we are willing to try. We are on the front page of the crowdfunding product of JD. The crowdfunding platform will allocate resources based on the product's reputation and recognition. Of course, we also have other promotion. The overall response is still very enthusiastic, hope that the user experience after recommending to people around him.

Liang Botao: The purpose of crowdfunding is not only to demonstrate, but also to interact with users, and to maximize the exposure of crowdfunding projects through different diversions, because no one is willing to dig out projects from one of numerous projects. . Crowdfunding is not a hundred trials, mainly because the project itself must be innovative and able to impress users.

Lei Zhonghui: For the two platforms Jingdong and Taobao, product crowdfunding accounts for a small proportion in their system. Natural resources are not much to invest in. If you don’t want to be overwhelmed, you need to increase the flow of the crowds themselves. Therefore, companies must think clearly. After the crowdfunding platform has the ability to invest in promotion. But having said that, after all, cooperation with the big platform, the project can pass each other's audit is also a kind of affirmation. For many small startup companies, it is such a marketing gimmick.

Sun Hongsheng: We have built a display platform for crowdfunding projects. We haven’t bought traffic yet, and we haven’t sold advertising space on the site. However, in the tens of thousands of projects that have launched crowdfunding, the success rate is about 40%. Of course, this is related to the small amount of financing for the project. Most of them are concentrated in 20-30 thousand. We internally summarized several elements of successful crowdfunding. Basically, it is inseparable from the support of friends and family, so the current crowdfunding has a strong social gene in it.

Item 4: With the increase in crowdfunding projects, will future crowdfunding projects invest more in the promotion of the project?

Bring creativity to reality

Li Xuliang: I am optimistic about the trend of product crowdfunding. After all, it brings the value of product exposure. Through this channel, I quickly contact young consumers who like new things. With regard to this "Cyber ​​Eye K1", our crowdfunding will end at the end of the month and we will take a look at the market reaction. If the effect is good, we will increase the promotion of online and offline support.

Yi Yuntian: This wave of product crowdfunding will not recede, and the more startup companies, the greater the demand, even if the experience is normal, because there is currently no better choice. If you think about it, if you put new products on your own official website, will you be less concerned about it? Besides, consumers will not easily trust the products of a small company. From the technical point of view, it is also very troublesome to do web page optimization by yourself. On large platforms such as JD.com and Taobao, there is at least a relatively good network infrastructure. Go up and do your own page.

Sun Hongsheng: The upsurge of product crowdfunding has set off. If we want to continue to grow, I think we can't just maintain the attributes of marketing and return to the original intention of “bringing creativity to reality” to stimulate greater value.

Liang Botao: Domestic crowdfunding is still in the initial stage. Consumers need to deepen their awareness and acceptance of crowdfunding. The market has a lot of potential to tap. There are a lot of integrated e-commerce companies that are now in crowdfunding and vertical crowdfunding websites are also very active. This is a good thing for the market.