2 Listing by selling concepts , How far can you go by adopting a cow ？

source ： Market value list （ID：shizhibang2021） author ： Lianhe edit ： Jia lele  

2012 year , Xu Xiaobo went to Hong Kong , I bought it for my children when I came back 8 Cans of foreign milk powder . But when passing through Hong Kong Customs , Because the quantity of milk powder violates the purchase restriction order , He was locked up in a small dark room for 4 Hours , He also wrote a long guarantee .

When he gets back , Frustrated Xu Xiaobo realized that China's dairy industry needs to be independent , Thus abandoning the industry of exorbitant profits , Transform into a milk business . He imported from Australia 6000 A Holstein cow , To spend 4.6 Billion yuan in Hebei Hengshui established the company's first modern pasture, Kanghong pasture .

This slightly humiliating and inspirational plot , It has become the entrepreneurial story of adopting a cow .

The development of adopting a cow , Also full of attractions . With social e-commerce 、 Bonus of online marketing , A leap into “ New consumer brand dark horse ”,2021 The annual operating income has reached 25.7 One hundred million yuan .7 month 5 Japan , Adopt a cow and disclose the prospectus , To be listed on the main board of Shanghai Stock Exchange .

Through this prospectus , We can see the popular secret of adopting a cow , You can also see “ adopt and bring up ” Loopholes in marketing stories . The question of adopting a cow can also be found in the prospectus .

01

adopt and bring up ： Popular secret

As China's per capita GDP The growth of , Dairy products have become rigid nutritional consumer goods .

The war related to this mouthful of milk , Arise from 1990 year , Through the high-speed growth period 、 Scuffle period , To 2008 After the melamine incident in , Sanlu withdrew from the market , Erie 、 Mengniu's duopoly position has basically taken shape , The original industry leader Guangming 、 Sanyuan and other dairy enterprises occupy the place , Become the second tier . Since then, the industry pattern has basically taken shape .

in other words , On the surface, dairy products are just for consumption , Broad market , In fact, this industry is already a red sea market , Barriers to entry are high .

However, the rise of Internet e-commerce , Breaking through the traditional market competition pattern , Bring a trace of variables to the stable market .

Compared with Yili 、 Mengniu and other traditional offline brands ,2016 Adopting a cow, founded in, naturally carries the gene of Internet sales .

From the beginning of brand establishment , The company launched “ Adopt a cow ” Community interaction plan , So that consumers can enjoy the milk delivered directly from the ranch .

Big V Endorsement plus this product that sounds fresh and healthy , Suck powder quickly . same day , The reading volume of Wu Xiaobo channel's official account quickly broke through 10W+, One week's sales are close to 200 ten thousand .

After discovering the traffic password , Adopt a cow and read books at ten 、 COFCO healthy life and other hundreds of we media , Accumulated coverage in the form of content output is nearly 2 Billion people .

thereafter , Adopt a cow and slowly expand from we media to little red book 、 Tiktok 、 Microblogging 、B Station and other platforms , With the help of viya, the queen of goods 、 Luo Yonghao's live studio has made a name for itself , Surpass Mengniu many times 、 Yili won the sales list of tmall top1 The throne of , Become a representative brand of new consumption .

The reason why adopting a cow can quickly occupy users' minds by marketing is “ adopt and bring up ” The transmitted food safety signal .

since 2008 After the melamine incident in , Domestic dairy enterprises are facing a serious crisis of trust .

Previous dairy enterprise marketing , Pay more attention to ingredients , Like protein 、 Calcium and other elements , The melamine incident overturned this criterion , Ingredients can be fake , There is no way to talk about product quality .

The marketing of adopting a cow starts with the most critical milk source of milk quality , For the pain point of food safety , Put forward “ adopt and bring up ” Concept .

around “ adopt and bring up ” The concept of , The company passed “ It's better to adopt a cow than drink milk ” Wait for advertising , Position yourself as “ Raise cows for users ” Role , Not the company that sells milk .

2020 year 5 month , The company to launch “ Million family adoption plan ”, Start “ Cloud adoption ”、 There are three adoption modes: joint adoption and real name adoption , Create a transparent pasture , Let users observe the growth of cows , Witness the birth of milk , It enhances the reliability of the milk source in the hearts of users , It also increases the trust of the brand .

Rely on the adoption model , Adopting a cow has achieved rapid growth .2020 and 2021 In, the company realized 16.49 Million dollars 25.66 Billion yuan of business income , Year on year growth 90.8% and 55.6%. Among them, the proportion of online channel revenue is from 2019 Year of 62% Up to the 77%, Maintain the growth trend .

The gross profit margin is also relatively stable . After the freight is incorporated into the main business cost according to the new revenue standard , The gross profit margin of the main business of adopting a cow in the past three years is 29.05%、30.79% and 28.86%.

however ,“ adopt and bring up ” This secret has not been written into the prospectus as the core advantage of the company .

02

White Wolf for nothing ？

“ adopt and bring up ” The model is to hope that consumers believe that the company has established a guarantee mechanism for the safety of dairy products .

adopt “ adopt and bring up ” Move , Consumers expect to have a direct relationship with a cow in the pasture , And through digital traceability monitoring and other technologies , Restore the production process .

But at present, the company has launched three adoption activities , It's more like a game , Not real “ adopt and bring up ”.

The rudimentary “ Cloud adoption ”, It's similar to QQ The farm 、 Small program game of pasture . Gold coins obtained by consumers through breeding games can be used to exchange for physical goods or milk discount vouchers .

“ Joint adoption ” It's actually selling equity cards . The company cooperates with Wu Xiaobo channel 、 Dunhuang IP And so on IP Co branded cards , Users can buy season cards 、 Half a year card 、 Annual cards, etc. get joint adoption rights , Enjoy the benefits of regular door-to-door delivery and parental guidance .

“ Adopt by real name ” It fits the ideal adoption mode of consumers . Users can book milk one year in advance at the dedicated pasture , The highest ranking member can decide the name of the cow , And regularly get the life photos of cows and various growth data .

But according to 《 The new fabric 》 Reports of ,“ Adopt by real name ” Mainly invite some authoritative users , Such as father Wei 、 Wang Han 、 Chen Shu 、 Du Haitao 、 Luo Yonghao et al .

in other words , It is difficult for ordinary users to truly adopt a cow through the current activities of the company , It is unrealistic to adopt a cow alone .

By 2021 By the end of year , Adopt a cow and keep a herd of cows 37,062 head （ The number on the official website is 6 Ten thousand ）, This means that the maximum number of adoptions is less than 4 ten thousand , And in some reports , Paying users or members who adopt a cow start with millions .

Not enough cattle , If you continue to adopt it, you can only compete with Niuniu .

From the perspective of industrial production , It is impossible to achieve “ One person adopts a cow ”.

A cow produces about 123 tons of milk a year , The net weight of a box of pure milk is about 250 ml ×12 bottle , namely 3 kg , This means that a consumer has to buy about... From this cow a year 4000 Box products .

In order to improve production efficiency , The extruded raw milk is often produced uniformly , If we produce according to the output of each cow , Industrial efficiency will be greatly reduced .

therefore , Consumers understand that a cow belongs to them after spending money , Just wishful thinking , The whole process behind adoption can be traced 、 The production process is transparent , It's also a castle in the air .

From the perspective of milk source ,2017 In, the company's publicity has always emphasized ,“ Adopt a cow ” All milk sources come from their own pastures . actually , To this day , To adopt a cow, you also need to purchase raw milk from outside .

After being questioned , Adopt a cow 2018 Year has been changed to “ It has a high-quality dairy supply ”.

In terms of production , The prospectus shows , company 2019 In, all pure milk and yogurt were outsourced .2020 year , There is still a 90% Above pure milk and 95% The above yogurt is produced by outsourcing .

（ source ： Company prospectus ）

in other words , When the concept was first proposed , There is no self production capacity to adopt a cow , The milk source is not enough , However, it has become popular through a concept , It can't be said to be a white wolf with empty hands , After all, there is still a pasture to adopt a cow , It can only be said that lever plays well , Borrow others' assets , Completed his original accumulation .

In the process of becoming popular , There are still some disputes about adopting a cow , For example, the fission mode of adoption , The gathering of partners is questioned . This may also be the reason why the prospectus does not highlight the adoption advantage .

03

The channel dispute that cannot be bypassed

Avoid Mengniu 、 Yili and other giants are the most powerful offline channels , Adopting a cow found the secret of growth in the initial stage .

But an unavoidable fact is , The marginal cost of online customer acquisition is rising , meanwhile , Traditional dairy giants are also increasing their share of online channels . The result is , The competition to adopt a cow is getting fiercer , It needs to open up offline channels to find new growth points .

Adopting a cow means ,2021 Since then , In addition to consolidating online channels , Offline channels have also become its starting point .

thus , On the channel , Adopting a cow is back to the origin , Have to face off with dairy giants .

The diversity of consumption scenarios determines that offline channels are a battlefield that dairy enterprises cannot ignore . Supermarket channels for purchasing with family units 、 Personal convenience store 、 No one shelf 、 Instant retail and delivering milk to home , These offline channels need distribution .

at present , The sales channels of dairy products in China are still mainly offline ,2021 In, traditional and modern channel sales accounted for more than 80% . The income of adopting a cow online is as high as 77%, The foundation of offline channels is not deep , This is not good news for those who need new growth points to adopt a cow .

Because there are not a few examples of channel disadvantages being reversed , Bright Dairy mosleyan style reversal is one of them .

2009 year , Bright Dairy brings moslion to the market , It breaks the market gap of normal temperature yogurt , In just two years, the annual revenue of mosleyan has reached 60 One hundred million yuan . Mengniu who sees dividends 、 Yili followed suit , On 2013 In, it launched anmushi 、 Chunzhen and other competitive products .2019 Yilian Mushi broke through 200 RMB one hundred million yuan , And Mengniu Chunzhen also has 120 A volume of 100 million yuan .

There is no high technical barrier for normal temperature yogurt , The two giants cannot be defeated in terms of products . Marketing and channel are two killer weapons , It is Yili 、 The key to Mengniu's anti super .

Marketing , Anmushi's title “ Running man ”, Yang Ying and Li Chen were also found as spokespersons , Moslian is 2015 After the problem of annual sales , Just started naming 《 Challenge the limit 》, Find the spokesperson of Mayday . Marketing is slow , There is no advantage in seizing the minds of consumers .

On the channel , Mosleyan is more vulnerable .

The main battlefield of Bright Dairy is in East China and South China , In the broader North China 、 southwest 、 The northwest , The penetration rate of Bright Dairy is not enough . In sharp contrast to light , Yili and Mengniu control the national traditional supermarket retail terminals and multi-level dealers . As soon as the product came into the market, it quickly spread to the national market with the marketing action . Bright Dairy does not have an advantage in the terminal display position , With anmushi 、 When Chun Zhen confronts head-on , Only willing to bow down .

On the channel , Adopting a cow needs to make up for its shortcomings . The products are also poor .

“A2β Casein pure milk ”“ Juan Shan cow pure milk ” It is the main product of adopting a cow , But these two categories , Not alone , Erie 、 light 、 MENGNIU 、 Sanyuan has similar products . Channel advantages do not exist , When the barriers to product innovation are not high , The challenge of adopting a cow is not small .

Avoid confrontation with giants , Adopt cutting-edge marketing methods to achieve rapid growth , It has indeed become the secret of the rapid rise of many new consumer brands , But I want to live longer in the market , The test is a brand from the product 、 The comprehensive strength of channels and marketing means .

New consumer brands taste the sweetness through tricky means , Next is to go back to the old way before the giant , Make up for the lessons left behind , But break through the encirclement of giants , It's not simple for new consumer brands that don't have a solid foundation .

reference

[1]《 Adopt a cow fire ！6 Ten thousand cows ,1600 How to divide ten thousand members ？》, The new fabric

[2]《“ Adopt a cow ” To go public , Spend money “ Raising cattle ” Is it IQ tax to drink milk ？》, Financial Weekly