Geek Bar's US agent creates an industry benchmark in 3 months
In experience, 3C channels and electronic vaporizers are a perfect match made in heaven. After all, in the context of channel subsidy wars, electronic vaporizers need to quickly penetrate offline channels, and the nationwide store network of 3C channel dealers is undoubtedly a hot commodity for all parties to compete for; and for 3C channels, facing the shrinking 3C digital market, they also need electronic vaporizers, a new category with high repurchase rate and high profit points, to improve performance, and even switch tracks and achieve transformation.
However, although the attempt of 3C channels to transform into electronic vaporizers has long been a cliché, there are few successful CP combination cases in the industry. It was not until the successful breakthrough of Geek Bars US agent Yao Bin that this slightly awkward history was rewritten.
Yao Bin, the helmsman of Guojie Communications, is a big shot who has been deeply involved in the 3C digital field for more than 20 years. Under his operation, he worked together to build the US region into a benchmark market in the industry in just 3 months. What is the story behind this? What enlightenment will it bring to 3C channel dealers who are determined to transform?
Business model is the primary issue
Guojie Communication is one of the largest 3C channel dealers in the United States. As early as 2017, it began to pay close attention to the market opportunities in the electronic vaporizer industry, and indirectly became the agent of a leading brand in 2019. Yao Bin has high hopes for this cooperation, and is ready to make a big move, and opened dozens of specialty stores in a short period of time.
However, this attempt ended with the withdrawal of stores after just half a year of operation.
Under the single specialty store model, the operating costs of a single store remain high, the products are relatively single and the entry threshold is high, and the stores lack a profit model for sustained growth. The result is that it is easy to open a store, but in fact the survival rate of the store is not high. Yao Bin summarized this when reviewing this unsuccessful transformation attempt.
This setback did not scare Yao Bin away, but made him more determined to judge and confident in the transformation to electronic vaporizers, and to know more clearly what kind of brand is the best win-win partner for 3C channel dealers to transform, and can ultimately win in this electronic vaporizer marathon track.
With profound experience and more stringent screening criteria, Yao Bin rejected the olive branches extended by several brands and firmly chose Geek Bar.
The reason for choosing Geek Bar is actually very simple, because Geek Bars business model is very clear! Yao Bins answer to why he chose Geek Bar was brief and firm.
As an industry veteran who has been deeply involved in the 3C field for 20 years, after early observation and exploration, Yao Bin believes that although there are many brands in the electronic atomizer track, only 3-5 companies will win in the end. In this process, the competition of business models will become an important reference dimension to determine who can go to the end.
Focusing on essential technological innovation and product iteration, building a sustainable profit model with a rich product matrix, and enabling agents to grow sustainably, as Yao Bin said, Geek Bars business model is clear enough.
On the technical level, Geek Bar continues to invest in technological innovation around chip technology, creating a product matrix with core core technology, building an ECUP supervision platform with big data Internet of Things technology, and building a complete product technology ecosystem from the underlying logic of the chip to form its own differentiated competitive advantage.
At the product level, Geek Bar focuses on chip chip technology, and uses the Shangcai series, which is given to users for free, to lower the user entry threshold, create channel-driven hot products, and lay the foundation for increasing market share and user repurchase rate; the Glossy Hand Paint series meets the mainstream young consumer groups who focus on appearance and cost-effectiveness; the Aurora series, which is blessed with chip technology and national tide elements, meets the user groups who pursue higher quality requirements and stronger personality expression, and broadens the profit space of agents; the Glory series focuses on technology leadership and shapes a high-end brand image.
It is not difficult to find that each series of Geek Bar products has a distinct hierarchical positioning, which matches user needs in all aspects from price to product diversity, which can not only help agents occupy more seats in the fierce stool grabbing competition, but also effectively avoid left-right fighting between products.
The more important significance lies in: through the high construction of core technology barriers and product matrix empowerment, the main foundation of Geek Bars business model has been laid. This is also the essence of Geek Bars Thunder Action strategy-leading product iteration innovation with core core technology, building a sustainable profit model for agents, and promoting the healthy development of the industry with the innovation of business models. This has also become a strong support for Yao Bin to build a benchmark market in the United States.
Cultivate the sinking market carefully and create a three-dimensional channel model
If all brands rush to the specialty stores, the total number of users will not expand, and the sales volume can only be dispersed and diluted. Obviously, this approach cannot bring real growth to the brand and channel, and cannot be used as the only way to expand the channel.
Geek Bars unique business model and extreme product strength are important dimensions that attract me to join. But what really resonates with me is the three-dimensional channel model of specialty stores + outlets that Geek Bar insists on, rather than the single specialty store model of thousands of cities and tens of thousands of stores and the pursuit of quantity. In Yao Bins view, the large number of outlets is the biggest advantage of 3C channel merchants, and it is also the inevitable trend of the development of electronic atomizer channels. The single specialty store model cannot support the survival of stores.
And Geek Bars channel thinking is highly consistent with it, directly hitting his core appeal point.
Not long ago, Geek Bar announced at its Thunder Operation Strategy Conference that it would build a three-dimensional channel system of 3,000 specialty stores + 300,000 outlets, deploy efficient brand touchpoints across the country, and three-dimensionally cover different regional markets and consumer levels, and give the channel differentiated and competitive core growth momentum from the aspects of product support and information system support. At the same time, in order to fundamentally improve the channel management and operation capabilities, Geek Bar will build an integrated digital platform that integrates ecological partner management and user management, strengthen member management, and allow customers to make real money and achieve sustainable growth.
With the strong support of Geek Bar headquarters, Guojie Communications selected a quarter of its more than 12,000 3C digital outlets to carry out pilot work. According to Yao Bin, Guojie Communications currently has more than 3,000 Geek Bar outlets, more than 60 specialty stores, and more than 180 integrated stores. It is worth mentioning that among these 3,000 outlets, the monthly sales have reached more than 1,000 yuan, and the performance of each outlet has shown a sustained growth momentum. And this is only in the trial operation stage.
Faced with a good growth momentum, Yao Bin specially airdropped a vice president from the headquarters of Guojie Communications to be directly responsible for the operation of the Geek Bar brand, and invested a team of 20 people to seize opportunities and promote the development of Geek Bar. Next, Yao Bin will work with the Geek Bar headquarters to create more specialty stores and integrated stores, while promoting channel sinking and accelerating the layout of outlets.
Todays electronic vaporizer market is almost exactly the same as the mobile phone market in 2005 and 2006. As a provincial agent, only by deepening the market and improving the team can we meet greater challenges and opportunities! Yao Bin is full of energy because of the ideological fit of fellow travelers.
It is important to be with whom in 2021. Geek Bar has built a clear business model, a rich product matrix, and a profit model that enables channels through the continuous upgrading of cognition and the continuous reduction of implementation. The four-dimensional integration of the multi-dimensional channel model together constitutes the power engine that supports the development of the brand itself and the endless and continuous growth of agents, pushing Geek Bar into the fast lane of development.