Learn Online-Celebrity Economy via a Husky
When it comes to the most popular dog on Weibo, the Chinese Twitter, Coco Wang, a pet husky of Wang Sicong who is the son of the wealthiest man in China, must be the one. Her master’s lavish way of life, humorous way of talking, and the identification of both the son of the richest man in China and an online celebrity have brought Coco unprecedented level of focus. In April 2016, a pet goods shop just opened on Taobao.com had realized a revenue of CNY 10 million in the same year, and it is projected that the income will be over CNY 30 million by the end of 2017, and that is all because the shop bears the name of Coco Wang. This case demonstrates the pathway from online celebrity effect to income generation. Now let’s analyze in detail:
Obtain business opportunities by capturing attention.
Source from: http://weibo.com/u/5194257804?refer_flag=1001030101_&is_all=1#_rnd1501743129496
At present, the Weibo account name: Coco Wang has attracted 2.3 million fans, almost every post will spark tens of thousands of interactions. Different from her master’s sharp and incisive remarks in his Weibo, most posts of Coco account are about pets.
In April 2016, Cai Rongyu, co-invested an pet shop on Taobao.com by taking advantage of the name and popularity of Coco Wang.
The shop, oriented to medium-high end level, sells imported or customized products with categories covering pets food, snacks, daily-use articles, cleaning supplies, and medical care products.
Capturing public attention means grasping business opportunities. Even though the UV is not as good as other shops of the same kind, the shop still gains 300-400 visitors per day thanks to the hot searching keywords Coco Wang. As the shop targets medium to high income consumers , the per customer transaction is at around CNY 200-300 which secures the overall sales performance.
Vertical Development, the tendency for online celebrities followers.
Coco’s Weibo account still remains active, some specialized knowledges regarding pets or public welfare contents are shared besides coco’s luxurious life. Among its 2 million followers, though some merely follow Coco out of curiosity, there are still many who recognize or admire Coco’s way of life and are gradually converted into buyers. The rising of online celebrities is due to their focus on life style or having a direct link with people’s interest.
Though online celebrities can be the accelerator or pusher for your sales for a while, the long-term well-being of your business are still subject to your product quality and service.
With the segmentation of vertical e-commerce, the online celebrity economy is also becoming vertical and specialized. It is foreseeable that innovative and specialized contents will be the main force to bring in followers and buyer.