, an electronic device that mimics a cigarette, came into the spotlight at a time when tobacco is expensive, unaffordable for most people in the United States and tobacco control policies are tough.
Starting in 2017, China's seahorse bong has also started a new round of growth. The seahorse bong craze in 2018 is also attracting increasing attention to the seahorse bong market.
New consumer spoke with wong yu, founder of new seahorse bonglookah, which was founded in early 2019 and features closed-end, exchangeable "e-cigarettes" and disposable cigarettes.
Its founder, huang yu, has worked at apple for nearly a decade, serving successively as the director of apple's southern China region, the director of operations of apple's greater China enterprise division, and the coo of le xin healthcare. This time he brings us his thoughts on the seahorse bong industry and his strategic plan for this startup. 一、Seahorse bong is a track worth entering
When I looked at seahorse bong at the end of last year, there weren't that many players in the market and there was a lot of homogeneity. At the beginning of the 18th century, the circuit was suddenly flooded with entrepreneurs, large and small, making the market seem like a small outlet.
I think the seahorse bong industry is starting to get noticed for two reasons:
One is that the seahorse bong industry is in its infancy and has plenty of room to imagine.
Seahorse bong, an electronic product
that imitated cigarettes, had an industry size of about 4.312 billion yuan as of 2017. According to estimates, seahorse bong had 35 million customers in 2017, and seahorse bong had about $12 billion in sales, a 13-fold increase from 2010 and a compound annual growth rate of about 45 percent. Although the seahorse bong market is tiny compared with the country's trillion-dollar traditional tobacco market, the overall potential is huge.
Second, existing products need to be upgraded iteratively.
China is the world's largest manufacturer and exporter of seahorse bong products. The private brand of domestic seahorse bong enterprises has not yet risen. At present, they mainly do OEM work for international giants or seahorse bong brands, and supply 90%-95% of the world's seahorse bong products and accessories. The domestic supply chain is very developed, and a number of seahorse bong manufacturers have formed, integrating research, development, production and sales of seahorse bong. However, the domestic research and development strength is still slightly weak. What can be seen on the market is that seahorse bong products are seriously homogenized, with similar functions, appearance and experience. It is urgent to iterate and upgrade, so as to develop and produce our own seahorse bong brand that conforms to the usage habits of Chinese people.
However, the influx of more employees may cause some common market problems, for example, the market will become a little impetuous, enterprises pay more attention to brand and marketing methods, and pay less attention to the polishing and iterative upgrading of products, resulting in a batch of short-lived products, which is not a good phenomenon for the market. 二、Lookah's overall strategy
A good company should not only have the ability to build a good brand, but also believe in the ability of products. So lookah didn't rush to get the product online in the first place after building the team, and instead focused more on product development and upgrades. Unlike previous fast-moving production lines, lookah
takes more effort in research and development.
Seahorse bong is a unique product. There are many dimensions that affect its quality, but the main ones are as follows:
First, the quality of atomization and smoke generation. This is the core, because it's the most intuitive user experience. The quality of the smoke comes from four factors such as atomization technology, the quality of the smoke oil, the technology of the electronic rod and the specialty of the blending. These four aspects of the optimization is not less, we want to improve the overall performance, not just the simple assembly of parts.
Second, seahorse bong is an electronic device that is as much a social currency as it is a functional one. The look of seahorse bong, its craftsmanship and the feel of its hands are all part of the language of the product. Good products speak, and can be passed on to users as a social currency. So seahorse bong's customers need the product to give them a sense of value when they use it.
We spend a lot of time doing research and development, designing solutions. Every day brings good news and bad news: some features we thought would be great, only to find out they didn't turn out the way we thought they would. Also in some pessimistic time suddenly found the function of the bright spot, the whole team will be very excited, we really enjoy the process of developing a good product.
Third, the growth speed and ability of the team is an important factor for the product to stand out in the market. A good team is the basis of a good product. People are always more important than things. Our team is a team that has fought a hard battle and has been my partner for many years. We are more strong in resisting market risks as we have been working on electronic products and marketing from zero to one. At the same time, we also chose guangzhou, a quiet start-up location, rather than mainstream cities such as Beijing, Shanghai, guangzhou and shenzhen. We hope to be less anxious, more focused and lonely to make a good product, and provide products and services to users with stronger market answers. 三、Lookah's vision and expectations
One of the things that really struck me when I was working with joy. Le xin has a smart sphygmomanometer that sells well. It is not only easy to use but also accurate, which captures the demand of people to measure their own blood pressure. At that time, a simple activity on jingdong broke the record of jingdong, which was the fastest blood pressure meter sale in the history of jingdong.
The blood pressure monitor will send the measurement data to the cloud of lexin after each measurement, and we can see the user's usage habits, so as to upgrade the product.
However, it was this data that led me to find a phenomenon. After selling the blood pressure monitor, the number of users using it was not high. The users who measured it three times a day were active users, while the number of active users after activation was even less than 10%.
We've tried everything to increase that ratio, whether it's marketing or user education, but it's never gone up. Our users are all in the "high three" group, and they need to measure their blood pressure to prevent diseases and keep healthy, but even though every user knows this, only a few of them stick to it.
And this leads us to a social reflection: human nature is that if I don't get to the end of the line, I probably won't pay too much attention to my health, even though I know I should.
That's why seahorse bong
shouldn't be used as a tool to persuade people to give up smoking. Second, it is probably against human nature to persuade people to give up smoking. But seahorse bong is an upgrade, and it's sure to help the tobacco industry along the way. We're not going to be able to convince the more than a billion smokers around the world to quit, but we're going to have to find a less harmful alternative. We're going to have to do something that's not just a business, but something that's of value to consumers.
In the company's later strategic development, we still adhere to focus on making products, do not rush into the current relatively chaotic market. We are also grateful that other brands began to educate the market before us and to raise consumers' awareness, so that consumers will gradually realize the difference between a good product and a bad product.
We tend to talk about the good stuff, not the really good marketing. The life span of the product is not up to the user, so selling is not the purpose, but to allow the user to recognize, to bring value to the user is the purpose. At that time not only rely on enterprise advertising, more is the user's word of mouth. This is our vision, and this is what we will achieve.