“What do you think about us launching monthly and annual cycling passes?”
Zhang Yida thought, a price war is definitely unavoidable. But before the war comes, it is not impossible to get some people on board and achieve more revenue.
"Monthly card? Annual card? What you're talking about is a membership card. You pay for it and get certain benefits and discounts. Then you can ride for a month or a year without paying any money?"
Huang Xiaofeng understood the meaning of the card literally.
"Yes, it is a kind of membership card. When we issue this kind of membership card, we first generate revenue.
After a while, a price war broke out, and we just followed suit.
But we have achieved our revenue target!”
Zhang Yida began to calculate. With more than 10 million users of Huimin Bicycle, how much membership fee can it collect?
"Would it be too confusing for users? What I mean is that if there is a price war in a few months, all bicycles will be free to ride.
Aren’t the memberships that users pay for becoming a commodity? Those who pay for memberships are treated the same as those who don’t.
I'm afraid that some users will be dissatisfied and post complaints online. If our competitors slow us down, it will affect our corporate image."
Huang Xiaofeng took a long-term view and thought to himself, Mr. Zhang, you are very happy to cut the leeks, but it is not conducive to shaping a positive image of the company!
"You make sense. So in addition to free rides, our membership card must also provide other membership privileges."
Zhang Yida nodded and thought to himself that he had indeed ignored many details. If it aroused users' resentment, the gain would outweigh the loss.
After thinking about it, Zhang Yida's heart moved and he said:
"Yes, isn't Ruimin Financial Management embedded in the Huimin Bicycle APP? We send investment red envelopes and trial bonuses to members."
"Trial money is a kind of virtual investment cash. Mutual financial companies generally like to use this to attract new customers. Users are given 6,666 yuan or 8,888 yuan, and the user invests in a short-term target of seven or ten days.
After the investment matures, the principal will be recovered, but the income will belong to the user.
Ruimin Financial Management does not suffer any loss, and can get many new registered users. Users also get benefits, in addition to free rides, they can also invest and make money."
Zhang Yida was afraid that Huang Xiaofeng didn't understand "investment experience money", so he explained it to him again.
"What if there are users who don't like investing online? The membership privileges we give are useless!"
Huang Xiaofeng feels that this investment red envelope and trial money have a certain compensation effect, but it may not be particularly good.
"Let's do this! You can find companies like Goudong and Penguin Video to cooperate with them, share some money, and add some of their membership privileges to the privileges of Huimin Bicycle members.
I also have Pate.com pet e-commerce, Yimin Wangjin P2P, Yimindai lending platform, and Ruixiang also have some membership privileges, all of which can be given to Huimin Bicycles.
As long as users purchase Huimin Bicycle membership, in addition to free riding, they can also receive investment and financial management red envelopes, fund red envelopes, insurance red envelopes, video memberships, e-commerce memberships... and other membership privileges on dozens of platforms.
With so many privileges, there must be one suitable for him!"
Zhang Yida is also worried about his users. But only if members feel it is worthwhile, can they sell it!
"Hehe, Ruixiang, Yimin, Pate.com... we are all brother companies, and we don't care about money or money!
Moreover, Huimin Bicycle is still betting against you, Mr. Zhang, do you think it will waive the cooperation fee?"
Huang Xiaofeng said with a shy face, he was risking his life in order to complete the bet.
"Okay, no problem. All the companies under my name don't charge a penny for cooperation. Just give them external platforms like Penguin!
If the diversion effect is good, I will let the company under my name repay Huimin."
Zhang Yida stopped Huang Xiaofeng and said that he didn't care about such a small amount of money. Moreover, he would not suffer from cooperation with Huimin Bicycle. With so many new users, he might still make money.
If you make money, you guys will give some blood to this little brother Huimin Bicycle.
If you have money, let’s make it together!
"Um...Mr. Zhang, is this a related transaction? With so many companies under your name paying us, will it be considered a violation by the venture capital institutions?"
Huang Xiaofeng also realized that Zhang Yida would do anything to complete the bet.
"Violation? What kind of rules are violated? This is a normal business cooperation. Even if it is a blood transfusion, it will cost tens of millions to a hundred million at most. The bulk of it has to be supported by the main business of cycling."
Zhang Yida has dealt so much with venture capitalists, so he naturally knows which lines should not be stepped on. It is not that he is making false accounts. It is not too late for venture capitalists to be happy when they see the diversification of revenue.
"Okay, then let's do what you want, Mr. Zhang. I think our membership card will definitely be very popular.
Just how much should we set the price?”
Huang Xiaofeng flattered him first, and then asked.
"The minimum cost for a ride is 50 cents. For an office worker to ride once to and from get off work, the cost per day is 1 yuan. After deducting working days, the cost is 22 yuan per month.
Let’s book a monthly card for 10 yuan! Let’s book an annual card for 99 yuan!”
Zhang Yida thought about it and gave his answer.
"Isn't it too low? 10 million annual card members are only 990 million yuan. Even if all our registered users apply for annual cards, we still can't achieve the revenue target."
Huang Xiaofeng is very worried. It seems that this membership card cannot generate much revenue.
"It's okay, it's just that the price is low to attract people! Just give me 5 million members within a year. I'll figure out how to generate other revenue."
Zhang Yida doesn't expect membership cards to become the bulk of his revenue. It would be good if it can give him a fraction of his revenue target of 1.44 billion.
"Okay, in addition to monthly and annual cards, can we also make quarterly and half-year cards, which would be more flexible.
Some users who feel that one year is too long can also spend tens of dollars to apply for a quarterly card or a half-year card.”
Huang Xiaofeng drew inferences from one example and immediately came up with new ideas.
"Okay! Your idea is good, just do it according to your idea."
Zhang Yida praised that Huang Xiaofeng still has a good way of operating strategies. With him taking action, it seems that this membership card has the opportunity to become the main revenue source.
"Okay, I immediately asked the team to form a project team and start designing our cycling membership card."
Huang Xiaofeng also worked vigorously and resolutely. He started arranging this matter as soon as he left Zhang Yida's office.
…
"Lao Fan, how is the situation of Yimin Net Financial recently? In a few months, the prospectus will be submitted, so you have to hurry up."
In the office of Yimin Internet Finance, Zhang Yida was drinking tea and chatting with Fan Hongyang.
"Mr. Zhang, don't worry. The US$222.2 million in Series B financing we received before the end of the year was not placed in the bank to earn interest.
First, he spent 20 million yuan to buy an online small loan license and developed an online credit product called "Hua Endless".
This product focuses on online small-amount loans, which complements Yimin Puhui’s offline large-amount loan business.
In addition, we have a total of 112 offline loan stores online, initially covering 29 provinces and cities across the country except Hong Kong, Macao, Taiwan, and Xinjiang and Tibet.
There are more stores in developed areas along the eastern coast, covering prefecture-level cities.
The central and western regions basically cover provincial capital cities, and will gradually cover some prefecture-level cities.
For online services, we have invested huge amounts of new subsidies in the financial management platform.
Huge amounts of advertising money have also been spent on online and in-building advertising, offline bus stations, subways, TV broadcasts and other channels.
Our goal this year is to complete the construction of a total of 200 offline stores and complete the matching of a total of 70 billion online transactions."
"Lao Fan, that's not bad! Your development speed is a bit beyond my expectation."
Zhang Yida first boasted, and then asked:
“Can the capital side still keep up with the development pace of the asset side?”
"Well, we can still keep up at the moment, but it's hard to say about the future. The development pace of the asset side is much faster than that of the capital side.
The asset side only needs to enter a city, recruit a group of salesmen, and then undergo simple training, and then they can go out and run the loan business.
The financial side is different! After all, the financial side allows people to take money out of their pockets. The nature is different and it is much more difficult.
For a user to become an active investment user on our platform, it takes a long time to follow up. It requires instilling a lot of financial management knowledge into the user and educating the user.
Now on the financial management side, the team size of 1,000 people, apart from half of it being technology and operations, the remaining half is e-sales customer service.”
Fan Hongyang believes that the development of the capital side is much more difficult than the asset side, which tests the platform's technology, brand, operation and other capabilities.
"There are 1,000 people at the Yimin Wangjin headquarters? There are more than 100 offline branches, so how many people are there?"
Zhang Yida was quite surprised. When he first came here, he found that there seemed to be a lot more people in Yimin Internet Finance, and the number had finally expanded to 1,000 people.
Fan Hongyang smiled and said: "We now rent 4 floors, two floors for technology and operations, and two floors for telemarketing customer service.
Offline, one of our standard stores has 50 people, and there are almost 112 stores with more than 6,000 people!"
"There are more than 7,000 people? Yimin Wangjin now has the most employees among all the companies under my name."
Zhang Yida gave him a thumbs up. Ruixiang City only has more than 2,000 people. Huimin Bicycle, which focuses on offline operations, has not yet recruited enough people. When the layout of each city is completed, it is estimated that it will rival Yimin Wangjin in terms of number of people.
.
As for Yimin Wealth, Yimin Dai, and Ruimin Financial Management, these companies only have a few hundred employees. Huinong Dai is also an offline company, and with a larger number of people, it can reach over a thousand.
"Actually, our more than 7,000 people are not too many. The main reason is that we have many offline loan stores. For example, the ones that deal with offline wealth are both offline financial management stores and loan stores. It is said that some of them have tens of thousands of people."
Fan Hongyang said with a smile.
“I know you can raise more funds by engaging in offline wealth development, but it’s a minefield and you can’t touch it, you know?
We would rather go slower than steady."
Zhang Yida said, then changed the topic and asked:
"After the layout of 200 offline stores is completed, there will be 10,000 loan salesmen. What is the approximate loan scale this year?"
“This year’s goal is to match 50 billion in financial management fund transactions. Excluding users’ transfers and withdrawals midway, the loan scale is expected to be between 30 billion and 35 billion.
The annual loan tasks I give to stores opened in the first half of the year range from 10 million to 200 million, depending on the opening time; the annual loan tasks for stores opened in the second half of the year range from 10 million to 100 million.
Averagely allocated to salespeople is 300,000 to 400,000 per person per month."
Fan Hongyang considers that the opening time of each store is uncertain, so he also differentiates when assigning loan tasks.
"Each salesperson will lend out three or four hundred thousand yuan a month. Can it be completed?"
Zhang Yida feels that this task is not easy, and only relatively outstanding salesmen should be able to complete the task.
"Mr. Zhang, you have never been to the grassroots, so you don't know how popular the offline loan business is. In the past, apart from banks, only small loan companies and some private loan companies that did not even have a small loan license were carrying out loan business.
Banks have high requirements, like to do mortgage business, and like big business owners and well-qualified customers.
Small loan companies and private loan companies do not have many procedures, but the interest rates are high, with monthly interest rates often ranging from 3 to 4 cents.
Our Yimin Puhui monthly interest rate is only 1 to 2 cents, and the credit limit is also high, ranging from 10,000 to 200,000. Customers with better basic qualifications can estimate the credit limit at 50,000 to 60,000 to 70,000 to 70,000 to 80,000.
A salesperson can complete the task by doing five or six customers a month. The commission we give is 2%. It is normal for a salesperson to earn tens of thousands of yuan from his base salary plus commission.
I think the commission is too high. We now have a big brand, low interest rates, and so many customers that our salespeople basically make money lying around."
Fan Hongyang feels that the company's business is too hot now, and the development of the asset side can be described as rapid progress. On the contrary, the funds provided by the capital side are somewhat insufficient.
"The market is so good, but Yimin Financial Management funds cannot be supplied. Have you ever thought about expanding into other funds?"
Zhang Yida took a sip of tea and then asked.
"Yes, I used the more than 200 million US dollars we obtained in financing and used 100 million US dollars as my own funds to lend."
Fan Hongyang felt that the US$100 million was still too small and a drop in the bucket.
"Haha, how can a few hundred million yuan be enough? What I mean is to find cooperation with banks, trusts, and insurance companies.
They provide the capital and we provide the assets.
what do you think?"
Zhang Yida looked at the surprised Fan Hongyang with a smile. It is indeed time to put the expansion of diversified funding channels on the agenda.