Upgrade from a tool to a solution, and the new site with praise points to new value

There is a strange phenomenon in the stock market , As long as the share price falls , There are voices from the outside that sing down the track and the company .

SaaS Track is a very representative field . Whether it's American Salesforce、Shopify, It's also a domestic favorite , When rising, the market is optimistic , Since the general decline of technology stocks last year , The market is full of blind pessimism .

But if you rethink this track , Whether it's SaaS The value of the model is the performance of some companies , In fact, it hasn't changed much . For example, there is praise , Outside the noise of the market , It has come up with some ideas and products that are different from the traditional industry . Its transformation , It will definitely bring new trends and values .

Insight into private domain trends , Youzan leads the industry

Post epidemic Era , The business of the merchant 、 The state of the overall economy is changing .

There is praise for the founder and CEO Bai Ya and Liu run, the founder of runmi consulting, mentioned during the conversation , Businesses are interested in digitalization 、 The demand for cloud shopping guides has soared , On the client side, there is the rise of live and short video e-commerce . Based on this , Youzan responds positively to these trends , Made a series of changes .

however , Compared with specific needs , The first thing we can be sure of is , The private domain services that businesses want are constantly changing . So in addition to specific products , We should also have the ability to catch up with this change . There is praise in 6 month 29 Japanese MENLO 2022 conference , Shows its insight into these trends .

The conference strategically brought about an overall upgrade and a set of more comprehensive private domain operation solutions , On the product, there is a more attractive transcendental product —— The industry's first artificial intelligence engine based on private domain scenarios is great Jarvis.

Why is it transcendent ？ The first is the attribute of artificial intelligence , This means that many private domain requirements have become built-in models and algorithms , There is no need for manpower to repeat some basic actions . The second is under this technology and integration ability , Private domain operation has been improved “ smart ” Of 、 A system that can learn and iterate autonomously . Last ,Jarvis Beyond the definition of tools , It has its own ecology .

Jarvis It represents the new private domain service trend , It not only precipitates greater general value , It is also an epitome of youzan leading the industry to a new stage .

Why should youzan integrate the originally decentralized intelligent capabilities into a new engine ？ This is because it separates the core changes from the specific business needs of businesses .

Businesses have a deeper understanding of private domain , It also has its own operation method . however , In the changing macro environment , There are some problems that businesses are not easy to solve ：

To complete the transformation from quantity to quality ; We should make the private domain relationship more stable ; Pay attention to profit output , Explore more value , Not just building relationships ; To serve the overall operation of the business , You can't fight alone ......

Currently, businesses provide private domain services for the platform , There are more obvious defensive needs . Turn all data resources into assets , In nurturing the growth of businesses , This is not possible with a single tool .

I like it Jarvis It has five engine capabilities ： Machine learning engine 、 Naturallanguageprocessing engine 、 Computer vision engine 、 Deep learning engine 、 Knowledge map engine ; Four product directions ： Insight 、 Process automation 、 Intelligent assistant 、Next. It's just the tip of the iceberg , Youzan's strategic upgrade , It is the interpretation of the changes in private domain needs .

More comprehensive, there is praise , Greater business value

The upgrade of youzan is from “ Store opening marketing solutions ” Upgrade to “ Private domain operation solutions ”. What remains unchanged is the nature of business , What changes is the logic of supporting business .

The nature of business remains unchanged , It's like SaaS Our goal is always to reduce costs and increase efficiency for business activities and businesses , Make the business of all services better . There are two reasons for the logic change of auxiliary business , One is that the needs of businesses can be summarized as efficient growth , But every business 、 The details of each industry are different ; The second is the scale of the business itself 、 Brand power 、 Expansion capacity and other aspects are different .

This is like valuing different industries , There must be different value thinking and comparable objects . Youzan made these factors into a complete system .

for instance , Commendable “ Private domain operation solutions ” I think there are three kinds of businesses ： Content realization 、 brand DTC、 Store digitization , This is the demand inconsistency . Above , Private domain has three stages ： Basic training , Private domain startup 、 Private business consulting .

Finally, the service , Youzan grasps the core needs of the business , Complete these collocations ： Basic delivery services 、 E-commerce private domain startup service 、 Store private domain startup service 、 Brand private domain management consulting services 、 Store private domain operation consulting services .

Youzan actually did two things ： Extract private pain points , Create solutions . The deeper into the industry , The closer the distance between praise and merchants , Businesses will also be more inclined to find youzan to solve problems .

This is it. MENLO2022 Why is the theme of “ Grow with customers ”, When intelligent ability 、 These elements of private domain operation ability are integrated , Youzan becomes more complicated , The customer's business is simpler , This is the meaning of service . This will change the value analysis of youzan , For the time being, I'll leave it to the following .

The relationship of growing up together is replacing the trading relationship . meanwhile , Youzan is changing from store marketing to private domain operation , It also contains the transformation of youzan from an instrumental application set to an ecological service provider .

Like I said before , The age of tools is over , Youzan is not a “ Tool man ”. I like it Jarvis Our value proposition is ： Help people , Do better ; The great vision is ： Committed to becoming the most trusted leader in business services , And a beautiful organization that makes outstanding talents .

It's not like businesses use it , Instead, praise empowers the service object . This is the re excavation of value , that , The new youzan naturally has a new value anchor .

Redefine youzan , Ecological value is underestimated

The global SaaS The story of killing valuation is not over ：Salesforce Price cut ,Shopify Its market value is far from last year 11 The peak of the month , It has evaporated for about 9000 RMB 100 million . No wonder investors are scared ,SaaS Do you want to “ Value destruction ” 了 .

But this obviously made the mistake of cognitive fragmentation , How much has the secondary market fluctuated , Don't SaaS Services provided by enterprises 、 Service providers 、 Has the contribution evaporated ？ Perhaps after seeing the turbulence of macro factors , The market also needs to rethink whether the original value judgment basis is flawed .

SaaS The traditional understanding of is very simple ： Selling subscription software . This rough definition once made SaaS Gain optimism about cash flow and business model , Now let it be deeply misunderstood . It's hard to tell the complexity of services by subscription numbers alone , This thinking fell into “ Instrumental theory ” The cycle of —— Customers don't just come to buy a tool , Youzan is not a tool person .

Service is a whole , Each segment has its own value mining space . Value judgment of service , Is the value space created for businesses .Salesforce Their value does not lie in selling a few digital plug-ins , But in its business network . Empathy , Youzan's ecological value is obviously underestimated .

therefore ,SaaS Data of still need observation , For example, in the first quarter of this year , Youzan's average quarterly sales per merchant 26 Ten thousand yuan , Year-on-year growth 4%, Among them, the store merchants GMV about 90 Billion , Year on year growth of about 70%. But it is expected to have a broader vision , We should see the post epidemic era , Businesses and their businesses are evolving differently “ Stars and sea ”.

SaaS Enterprises are in the context of various changes , Constantly discover best practices , Constantly replicate best practices . They don't sell software , It's how the system is used 、 How to play . Not to mention those with more advanced ideas SaaS Enterprises are already building a common growth relationship with customers , Digital dividends are destined to be shared by all participants .

Yes SaaS The traditional understanding of value is no longer suitable for ecological youzan , In the future, it may no longer be suitable for this industry . This essential change will not be completed in an instant , It will be gentle 、 extended .

White crow is explaining the current business development trend , Referred to the “K type ” The polarization of , Some businesses are fully upgraded , The other part has no sense of change . Liu run sighed ：“ To be cruel , Those businesses with less ability will be eliminated from the market , Excellent enterprises become better ”.

Actually , The same is true of valuations . Today's upgrade , It may take some time for feedback , But the trend of this change must be good .

The tide may have receded at one stage , But the definition of tide is wave after wave . After the storm , There is praise or that there is praise . It is still working with customers 、 And businesses 、 Grow with the industry , This value , Never lose .

source ： Hong Kong Stock Research Institute

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