I Do Hit Products in XiaoMi
Xiaomi's prospectus once described "Internet, hardware, new retail" as three pillars in Xiaomi's future. In fact, Xiaomi's business model is exactly like this: it can obtain users by making good hardware with low profits, and then the Internet traffic, and finally realize monetization through advertising, value-added services and other forms.
So, while the IoT contributed a total of CNY 42.59 billion to Xiaomi in the first three quarters of 2019, according to the company's financial results, it does not mean that much. What matters more is that today the number of connected devices on Xiaomi's IoT platform (excluding phones and laptops) has reached 210 million, and MIUI has 292 million monthly active users worldwide.
There is a popular saying in the smart tech world, "good products can speak for themselves". But Mr. Gao Xiongyong thinks differently, by saying that "in fact, it is not the product that can speak for itself, but in the design process of the product, the designer expresses through the product, that is, the product needs to be a topic itself". Three aspects to establish the topic for a cell phone : hot focus, virus spread and fission conversion.
Since traffic is so important, it naturally becomes the core of the competition. And explosive growth is one of the magic weapons of low cost to obtain flow, because explosive spread can bring the user traffic.
As for how to form fission conversion, Mr.Gao gave a reference to the "spoof" in the internet era, the concentration of resources, traffic, topic can form a clustering effect. It is easier to form a word-of-mouth effect. Eventually to make hot focus needs to follow a rule: namely must find the user's "scream moment", practice the three-step process "mining user (➡ solve user (➡ exceed customer expectations" .
Source: TMT Post