120,000 bicycles, 4 first-tier cities, 3 million registered users and 1 million daily active users in 3 months.
Zhang Yida was not surprised at all by this result, and even thought it was a bit low.
The combined population of the four cities of Beijing, Shanghai and Pengyang is almost 70 million.
The penetration rate of registered users is less than 5%, which is still low. I remember that the penetration rate of Hello Bicycle in the previous life reached 33%, and Huimin Bicycle still has a lot of room for improvement.
The daily active users surprised Zhang Yida, and he is quite satisfied!
Shared bicycles are currently considered a new thing. Young people follow the trend and ride shared bicycles to work every day.
In a few years, it will be difficult to maintain 1/3 of the daily active registrations. If it can become 1/3 of the monthly active, Zhang Yida will be very satisfied.
In the previous life, Hello Bike claimed to have 200 million registered users, but only had 63 million monthly active users, which is almost 31% of the data.
"Everyone has worked hard. This result is very good and I am very satisfied. All this is inseparable from everyone's joint efforts.
With this report card, the next A+ round of financing will be easier to negotiate.”
Zhang Yida praised with a smile.
"In addition, based on reliable news feedback, I found after analysis that the operating models and vehicle manufacturing costs of several competing products are somewhat different from ours."
Huang Xiaofeng took out several qualification reports and distributed them to everyone, and continued:
“The manufacturing cost of Baimo Bicycle is similar to ours, but due to the scale of manufacturing, it may be slightly higher than ours.
The charging model they adopt is 0.5 yuan per 0.5 hours, which is more flexible than ours.
The deposit is a standard and is also charged at 299 yuan.
In addition, the chairman of Baimo Bicycle is Li Bing, the chairman of Yiju.com, a US-listed company, and a powerful capital tycoon.
I judge that Baimo Bicycle will definitely be our strong enemy in the future.
Xiaolan Bicycle claims that the manufacturing cost of a unit is 800 yuan, but after some clues and parts cost analysis, I guess it is probably around 500-600 yuan.
The charging standard is the same as that of Baimo, which is also 0.5 yuan/half hour.
The deposit is lower, 199 yuan.
Wild Cycling, the parent company of Xiaolan Bicycle, has received US$1 million in angel round financing from Mr. Li Kaizhong. It is a startup company focusing on the field of smart cycling and also operates a cycling community APP - Wild Cycling.
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Although Wild Ride has only been launched recently, it is very popular among young people. In addition to accurately recording riding data, it can also speak to the society and communicate about riding...
I tried out their software, and together with the all-in-one computer they launched, it can record speed, mileage, time, calories, altitude, cadence, heart rate, temperature and many other precise information in real time.
At present, their shared bicycle brand Xiaolan Bicycle does not have these functions, but once such functions are transplanted, the user experience will undoubtedly be improved to a higher level.
The cost of building a Xiaoming bicycle is 700 yuan, and the fees and deposits are the same as those of Xiaolan bicycles.
But what is distinctive is their riding rates, which are billed by segments, ranging from 0.1 yuan to 0.5 yuan per half hour.
The initial price is 0.5 yuan/half an hour. If the user successfully invites a friend to register and pays a deposit, the price can be reduced by 0.1 yuan. If the user invites 4 friends, the price can be reduced to a minimum of 0.1 yuan/hour.
This set of invitation incentives is quite attractive to users, and it will definitely have a significant effect on attracting new users.
I suggest that we also do some activities to give users certain rewards for attracting new users."
After listening to Huang Xiaofeng's report, Zhang Yida was quite surprised. In his previous life, the initial riding rate for shared bicycles was almost 1 yuan/hour, and any less than 1 hour would be calculated as 1 hour.
Now it is 0.5 yuan/half hour, which is undoubtedly a more refined operation, and directly allows users to save money.
Zhang Yida speculated that it was the sudden emergence of Huimin Bicycle. The data of 120,000 bicycles put a lot of pressure on competitors.
Now if we want to catch up with or even surpass Huimin Bicycle, we can only offer more favorable cycling prices and better user services.
The current price is 0.5 yuan/hour. When Huimin Bicycle raises another round of financing, I’m afraid the ride will be free.
If you put more pressure on them, the ultimate solution is to use red envelope bikes. Riding does not cost money, and shared bicycles give users red envelopes...
The purpose of doing this is actually very simple. In the end, it is all about operating data and a report card. With the support of operating data, you can continuously raise financing.
The bosses behind several shared bicycles are not mediocre. Behind Baimo there is a listed company, behind Xiaolan Bicycle there is a parent company in the field of intelligent cycling sports, and Xiaoming Bicycle has a unique approach to its operating model and strives to attract innovation.
Faced with the endless tactics of competitors, Huimin Bicycle must also make some changes. Zhang Yida said to Huang Xiaofeng:
"They refined their operations, and we followed suit and changed the rate to 0.5 yuan/half hour. If they continue to change it to 0.25 yuan/15 minutes, we will continue to follow up.
But we should not take the initiative to do this. They are small and we are large. With the same operating model, they lose less and we lose more.
After the A+ round of financing, Huimin Bicycle will launch a deposit financial management function.
If the deposit financial management is done well, it will bring us a lot of income.
Therefore, in the next work, you need to communicate more with Ruimin Financial Management. The products must comply with laws and regulations and cannot make any mistakes."
Huang Xiaofeng nodded solemnly and said:
"Mr. Zhang, don't worry. I have been communicating with Ruimin Financial Management recently. The product has also gone through multiple rounds of testing to ensure that there will be no errors.
As for compliance with laws and regulations, there is absolutely no problem. All user agreements were finalized after two months of consultation and deliberation by the legal teams of Huimin Bicycle and Ruimin Financial Management.
Guaranteed to comply with our country’s laws and regulations!
Whether to invest the deposit into financial products, we also adopt the form of voluntary participation by users.
If the user is not willing to invest the deposit to purchase financial products, the user can use the deposit to purchase Lingqianbao Monetary Fund, which the user can withdraw at any time.
Users who are willing to put down a deposit to purchase financial products are authorized by the agreement to invest funds into Ruimin Financial Management.
The plan decided by Ruimin Financial Management is as follows:
Option 1: Users have the opportunity to redeem their deposits once a month, with an initial rate of return of 5%, increasing by 0.5% every month, up to a maximum of 11%.
For users who withdraw on the 15th of the following month and redeem their deposits last month, the minimum withdrawal period is 15 days and the maximum is 45 days. During the withdrawal period, interest will still be calculated.
For example: User A deposits a deposit into a financial product and withdraws it after three months, and can get a 6.5% rate of return.
After one year of deposit, User B chooses to return the deposit, and in addition to the deposit, he will receive an interest return of 11%.
If user C deposits the money for 20 days but less than a month, the interest will be returned at the lowest rate of 5%.
As for the exit period, users who redeem their deposits between January 1st and 31st will receive their exit deposits on February 15th.
In short, the longer the user chooses to store their deposit, the higher the rate of return they will enjoy. This has only one purpose, which is to allow users to store their deposit as long as possible.
Users can also get a relatively high return, and Ruimin Financial Management can also use user deposits to issue loans for a long time. A win-win situation for both parties!
The only flaw is that the withdrawal period is a little longer, 15 to 45 days, which may not be acceptable to some users.
Option 2: Deposit financial products are directly benchmarked against Ruimin financial products, with multiple maturities of 1/3/6/12/24 months, allowing users to choose freely.
If you choose to invest in a three-month target, the interest will be calculated based on the interest rate specified by Ruimin Financial Management, and you cannot withdraw early.
Option 3: The lock-in period of deposit financial products is directly set to one year, and users are given an 11% interest rate. Users are free to choose to join, and they are not allowed to withdraw early."
"Option three is not feasible. One year is too long. Users do not dare to invest for that long without understanding the situation.
Option 1 is the best and is almost the same as the current deposit withdrawal rules.
If the user wants to return the deposit, he can choose to withdraw at any time. There is no way to withdraw within 15-45 days. Time should be given to facilitate Ruimin Financial Management to raise funds.
In addition, option two can also be combined to embed a traffic entrance for Ruimin Financial Management within the Huimin Bicycle APP.
If users are interested, they will naturally choose to invest. At that time, Huimin Bicycle APP will place several banner advertisements for Ruimin Financial Management.
I also have an idea. Ruixiang’s Lingqianbao Monetary Fund can also open a traffic entrance on Huimin Bicycle.
Huimin Bicycle does not have a fund sales license and cannot directly list money fund wallets online.
However, you can divert traffic to Lingqianbao, and wait for the user to jump to the Touronghui APP, and then the user can complete the payment and purchase processes.
In this way, Huimin Bicycle only played a role in diverting traffic and did not participate in the core transaction link. This is not considered a violation."
"Hey, Mr. Zhang, this is a good idea! In addition to attracting users to buy Ruimin Financial Management products, you can also attract users to buy Ruixiang's currency funds.
The function of withdrawing and depositing Coin Treasure at any time should be able to capture a large number of die-hard fans."
Huang Xiaofeng began to imagine that Huimin Bicycle would have tens of millions of users purchasing financial products through the APP, which would then bring billions of yuan in commission income to Huimin Bicycle... It’s not too wonderful to think about it.
"Ruimin financial management and monetary funds are just the beginning. Huimin Bicycle's target group is urban people, people aged 20-60. They are very suitable for financial realization.
In addition to P2P monetary funds, all C-end businesses of Ruixiang Jinke Group and Yimin Financial Services Group can cooperate with Huimin Bicycle in the future.
Fund supermarket, Internet financial management supermarket, Internet loan supermarket, insurance supermarket, credit card supermarket, bank financial management/loan supermarket, etc.
Forget about Trust Supermarket, it is not suitable for shared bicycle users and its economic strength cannot keep up.
You can place some advertisements when opening a securities account...
For users with good riding credit, the credit limit will be extended in the future...
In short, there are many means of financial realization.”
Having said this, Zhang Yida became interested and continued:
“In addition to the Huimin Bicycle APP, we can also advertise on the bicycle body and wheels.
Find some large-scale entity companies that need offline advertising, and we will make shared bicycle co-branded products for them.
Moreover, we can also help them achieve precise advertising in cities. We want to be a company that places precise offline advertising in the city of Magic City.
We can put advertisements on all the shared bicycle bodies in the city. Hundreds of thousands of bicycles will travel through the streets and alleys of the city with their advertisements printed on them every day.
These are all living advertisements! How much exposure does this have?
It’s much better than LED exterior wall advertisements and building advertisements.”
Huang Xiaofeng was stunned and quickly flattered Zhang Yida: "High! Mr. Zhang, your move is too high!"
After thinking for a moment, he frowned and said, "But wouldn't it be too low?"
Low, the riders on the streets of Magnesium Tuan are the best living advertisements, how much they have increased the reputation of Magnesium Tuan!
"What are you afraid of? The best thing to do is to make money and make the company self-reliant as soon as possible. Shared bicycles cannot always operate at a loss and rely on capital and financing to maintain them for a lifetime? That's nonsense. Let's survive first before talking about character and feelings.
!”
Zhang Yida shook his head. Wang Xiaofeng was too aloof and could not let go of his stature as the CEO of an Internet company. Then Zhang Yida said again:
"Let's not talk about this anymore. Let's first confirm our leading position in the market and then talk about it! It's still early to talk about these."