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Balance Treasure: Internet Thinking Pushs Everything Down.

2014/1/22 20:42:00 29

Balance Treasure Internet Thinking Financial Management

five months, the scale of a new fund went from zero to 100 billion yuan and leapt to the largest Monetary Fund in China.

Tianhong Fund Management Co., Ltd., a "balance treasure" Monetary Fund in June 13th on-line, as of November 14th at 3 p.m., its investment account number has been close to 30 million households, the scale of more than 100 billion yuan, equivalent to 78 of the total domestic monetary fund total size of nearly 20%.

The fund company, founded 9 years ago, got rid of the misfortunes of tens of millions of dollars in annual losses. Its net profit in the first half of this year was 8 million 500 thousand.

This article is the practical guide for this trader. Zhou Xiaoming, deputy general manager of the Xi Tianhong fund, has a long history, but there are many bright spots.

how to hit Alipay's pain spot /p >

what is the balance treasure mode? What do I want to do? I think it has three representations and three bearers.

I don't want to say that it is an innovation fund, because in the dimension of traditional fund, it does not have much innovation.

It is different from the traditional fund: pure direct selling, farewell to bank sales, close to the new "big money", "big money" also take it to do its own business; customers positioned in the "moonlight clan", "small white" customers, the 1 yuan selling "cock silk financial feast" attracted many rich and handsome look around and participate in; 7*24 hours, everywhere, anywhere, anywhere, anywhere, no queuing, no filling list, nor is it being tortured online.

in such a new type of fund, there are two main events: first, return to the source of the IMF, lower the threshold and allow more ordinary people to use it; reduce costs and make profits for the clients; let the institutions most eager to make the funds bigger and better sell funds to avoid conflicts of interest between sales organizations and customers.

The two is to put the fund on the Internet platform, with the help of a one-stop life platform such as Alipay's hundreds of millions of customers, so that customers can "hand in hand" to enjoy financial services.

here, I would like to say that many people have commented that the balance treasure is a major creation, but I would like to say that this is actually a return to the essence.

A lot of innovation is not to return to the essence, such as smart phones, let people from keyboard, pen to write, return to child like fingers point and "zoned".

in addition, Celestica fund hit Alipay's pain spot.

Throughout the second half of 2012, Alipay executives were considering two issues: how to build an entry to the mobile Internet and how to increase Alipay's customer stickiness.

Peng Lei said that every morning when she opened her eyes, the first thing to do was to check the income of the balance treasure with her mobile phone.

"Balance treasure has become a very low level application of Alipay, so we must ensure absolute control over it."

In early October of this year, Alipay's parent company, Alibaba e-commerce company of Zhejiang, announced that it invested 1 billion 180 million yuan to acquire 51% stake in Celestica fund. The three largest shareholders of Tianhong fund, Tianjin trust, Inner Mongolia Jun Zheng energy chemical Limited by Share Ltd and Wuhu hi tech Investment Co., Ltd. reduced their shares to varying degrees. Celestica fund management group will become the fourth largest shareholder, holding 11%.

mid November 2013, Alipay wallet will be widely promoted in the whole country. The balance treasure will become the main pushing function. It will not only cost money, but also make money, which will be the unique core value of Alipay wallet relative to WeChat payment.

cross boundary new format: "new online shopping artifact" /p >

> a href= "//www.sjfzxm.com/news/index_cj.asp" > balance treasure < /a > through U shield recharge or fast payment, customers can easily pfer the money on the bank card to the balance treasure, apply for the money fund, and need to pay, pfer, withdraw and pay, and then they can safely and quickly pfer from the balance treasure, and initiate the redemption of the money fund.

The balance treasure appeared on the cashier of the platform, while supporting hundreds of thousands of external cooperative merchants from Alipay to help customers achieve the function of directly using the IMF share.

All of this is achieved in the case of unchanged user experience.

, so some people say that the balance treasure is a "new online shopping artifact".

this is the result of the embedded marketing of the fund. It also represents the extension of Ali's leadership power to the financial field. It is a product of cross-border.

In recent years, "Internet finance" has become a hot word, and various "treasures" have sprung up like mushrooms.

So, is this "financial Internet" or "Internet finance"? I would prefer to call it a cross border new format, and make the following bold predictions for everyone:

this new format is neither entirely the electricity industry's way to cross the border with the financial industry, nor is it entirely the financial industry selling products through the electricity supplier. It relies on their resources and experience to create a network trend for customers.

what will customers get? First, a more comprehensive one-stop living platform; second, people who can not get service in the traditional financial system and people who are not easy to manage money will be happy to manage through Internet; third, customer costs will further reduce; fourth, consumer sovereignty will be strengthened, and customized products and finance will emerge.

in the industry, there will be many cross-border "new play" appeared.

In terms of products, the development of Internet financial products will be completed by product managers of product management and product managers of electronic business. Cross border talents accumulated in these two fields will become the darling of the Internet financial era. The collection form of customer needs will be changed from conceptual understanding of questionnaire level to accurate grasp based on data mining.

financial products also have personality! /p >

financial products are related to money, but we have been saying "happiness". This is the first bearer of our balance treasure business at the value level.

Let's calculate an account: a customer pferred to 10 thousand yuan from the balance of the treasure line, and the proceeds from 18 to August were 86.66 yuan.

Probably few people will make it big money now.

However, customers say that this is equivalent to one month's toll and 40 subway tickets.

We get happiness from simple operation, and people recognize this value from the perspective of life needs.

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< --EndFragment-- > we may need to think about two questions: first of all, do our industry really understand the customers? Is it too late in the past and high above? "/p >

Second, "happiness" is more representative of the product, this mode corresponds to the social, cultural, psychological aspirations.

A large country like China has a net population of 40.7%. When people are tucking up, complaining, doubting and inspiring on the Internet, there is a childlike expectation in their hearts.

Maybe we can find some reasons why the balance treasure can be deeply rooted in the hearts of the people.

Products like P are also of character.

Maybe there are some financial products that can be done, such as intelligent elders, speculators and so on. However, we must have distinct personality, clear value proposition, functional cognitions, and more importantly, your goal is to create value for customers.

In addition to money, this value must be a little spiritual.

red positive energy passes regulation /strong < .

"red positive energy" is the words used by Fan Zhiming, President of the domestic business group of Ali Xiao Jin Bao, at the Zeng Li Bao product experience meeting.

a mode that can benefit tens of millions of customers in two or three months is undoubtedly a huge systematic project.

In cooperation with ALI, locking the balance treasure mode is a complex process and the accumulation of hardships.

We and our colleagues have been focusing on the opening of the shop with Taobao. We have more than ten copies of the Taobao shop's decoration design, and the product plan has been adjusted many times.

But for various reasons, Taobao stores may not be available in the near future.

Around October of last year, Alipay Ming Ming and its team began to think about the cooperation between Alipay and the IMF in Alipay. Later, the selling of Guohua life financial products and Everbright Ding Po boosted its confidence, and the payment scheme of the IMF which we started studying at the end of 2011 was refocused.

I think you may want to go in a certain direction. When there is no road, you will suddenly find the road underneath.

development of the system.

Starting from February this year, the system was launched with the cooperation of the gold certificate. In early March, the parties identified the demand. Ali also began to invest in the development, and completed the complex system development and docking in two months.

The determination of the business process and the realization of the technical system is a creation without precedent. It is the butt of the electricity supplier's operation needs and fund rules.

focuses on the issue of regulatory communication.

In June 21st, the CSRC regular press conference about the relevant statement of the balance treasure business was misread by some media and peers, resulting in the so-called "stop the door".

In the evening, Fan Zhiming, Ming Ming, I and the company's Electronic Commerce Department Zhang Muxia rushed to communicate with the five director Li Ying of the fund department.

Our mood at that time was rather complicated, mainly because we felt that the accusation on micro-blog was not the truth.

In particular, when I was second days, I knew that deputy director Terry Chui at the meeting on "as long as it is beneficial to the interests of clients and market development, we should encourage innovation, we need to promote laws and regulations for temporary coverage of regulations, and even conflict can not simply negate innovation, risk control is the guarantee of innovation".

From the 6 above consultation meeting on cooperation between the fund and the electricity supplier held by director Xu, the interim measures were promulgated in March this year. From the communication between the balance treasure project and director Xu and five departments, to July 5th, the securities and Futures Commission said, "from the model point of view, Alipay balance treasure belongs to the combination innovation of the third party payment business and the money market fund product, and its various business links are under effective supervision". All these indicate that the balance treasure mode is the common achievement of business innovation and supervision innovation.

with the rapid growth of the size of the balance treasure, many colleagues are concerned about why we can cooperate with Alipay in this way.

Alipay has discovered and respected our professional value and chose us as a company that is not ranked in the industry, so that we have the opportunity to create value for them. I said, "we call the industry to respect our innovation, but we need no protection, we can only do things well, innovate and protect ourselves". We announced that "the total marketing cost of Zeng Li Bao fund is much lower than that of the line, and Alipay's investment is much higher than ours". But many people do not believe that we are not losing money. At the 17 press conference in June, I would like to thank Alibaba and

the balance treasure project was identified as group two project and was mobilized huge resources for it. The two sides basically did not carry out the so-called "commercial negotiations". The agreement signed between the two sides was only finalized by 4 mail exchanges.

the fact is that several agencies have worked together more smoothly than the usual internal cooperation of an organization.

To achieve successful business cooperation, it is very important to unite interests, unite values and unify objectives.

In addition to wisdom, is it necessary to respect and practice the business principles of mutual trust and trust? Do we need to have a pattern and a realm? /p

subverting "investor education" /p >

customary financial product marketing is usually like this: first of all, "you do not manage money and money ignore you", this is a necessity; secondly, financial products can get risk compensation; bond funds yield is higher than that of Monetary Fund, mixed funds are higher than bond funds, and stock funds are higher than mixed funds. This is called "profit inducing"; then inflation will cause wealth to depreciate. If there is no financial management, pension problems, children education problems and other major problems will be troubled, this is called "fear of harm".

We also said that we should buy value when we want to invest in value, and buy when we make mistakes in the market. Buffett is like this.

In fact, when I am a product and marketing director, I am also known as "good at this way". But in my past two years, I often wonder if we are too much "educate" our customers, do we ask our customers to learn too many things, is it sometimes "in their dizzy, making people clear"?

how should we develop "investor education"? Western education is more about helping and accomplishments, providing conditions for the other person to become the person they want to become. Our traditional education is to make you understand the reason and act according to the rules of conduct.

In terms of financial management, since we provide you with a simple value or an uncertain result, it should be presented in a simple and complete way, allowing customers to learn, experience, share or create on this basis.

do we need to use "complexity" to reflect our specialties? A leader asked me, why is there such a good product of the IMF? Why did it not grow in us? I replied that the marketing system is one of the reasons, and another important reason is that it is not convenient enough.

How many people in our industry live in a current account, it is not difficult to understand that if customers can operate without a "piggyback hand", the products of the IMF are also difficult to popularize.

In the final analysis, product development must be empathy, use EQ and feel the needs of customers.

< a > href= > //www.sjfzxm.com/news/index_cj.asp > fund product < /a > innovation three main lines /p >

the method of developing Internet financial products can be divided into driving factors. There are basically three main lines of fund product innovation.

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> --EndFragment-- > the first main line, investment target and investment strategy innovation drive: investment target from stock to bond, cash assets, overseas assets, derivatives and commodities, investment strategy from top-down to bottom-up or the combination of the two; from single initiative management, followed by a large number of passive investment; from value investment, growth investment, to mixed investment, quantitative investment, and the introduction of hedging means to invest.

second main lines, the innovation drive of the relationship between product organization form and participants' Participation: from closed to open, from single rate to different rate category and even floating rate, from general fund to guaranteed fund, classified fund and launching fund.

at present, there are third main lines, namely, product function and customer experience driven, such as monetary fund T ten 0, field money fund, regular payment fund, etc. the balance treasure is also the product of this thread, which is behind the background of customer behavior evolution and technological progress, and will become the mainstream in the Internet Financial age.

The main mission of the fund product manager team in the Internet financial products is to find the legal and compliant product core for P, and to seek the support of laws, regulations and fund rules for the realization of product functions and the building of customer experience.

In the balance of treasure business, we set up a money market fund to carry forward daily, reduce the threshold of purchase and purchase, reduce the rate of fees, direct the way of promoting cooperation with the system of Alipay as the payment service organization, realize the product function and customer experience with Alipay's website platform and business system, and develop a new online trading system and registration system for it.

What P product managers should do is to achieve product functions and customer experience.

Ali, Jin Zheng and we have invested more than 100 technical personnel for the balance treasure project. At the level of technology development and product operation, this product is made up of dozens of hundreds of Internet products.

In this regard, Ali's technical input and technical strength is particularly lament. For example, the website page directly experienced by customers can be divided into visual design screen, technology realization of front page, jump between interaction pages, and so on.

Product development depends on EQ, which refers to perceiving customer needs and defining product functions.

To leave the simple to the customer, we must leave the complex and hard work to ourselves, the so-called "simple presentation of hard work".

focus on small and beautiful microecology /p >

more than 80% of the customers in the balance treasure are young people under 30 years old, and there are also nearly 100 thousand and 60 year olds.

They are drying accounts, talking about strategies and sharing money in the media. They will be concerned about the rise and fall of the daily income of the balance treasure. They are in touch with Alipay or Tianhong's customer service from time to time. They sometimes take pictures of Tmall on Taobao Tmall, then calculate whether to pay directly with the balance treasure or pay by the associated credit card. They are delighted with the "discount" brought by the balance treasure. They use the balance treasure to return credit cards at the end of the month, pay the electricity and gas charges, mobile phone charges or broadband fixed telephone fees, and push the balance treasure volume to a new high.

This is an active ecosystem and a small and micro ecosystem.

Ma Yun said that the African grassland is not a lion but a microorganism in the soil.

This is not the case in economic life.

the balance treasure technology team has just completed an important release income accelerator, which will shorten the processing time of each customer's income the day before yesterday in "my Alipay", so that customers can see profits every day and achieve the goal of "happy whole day".

We launched the "micro happy broadcast" to broadcast daily earnings with the smiles and real feelings of our team and customers. We explained the knowledge and information about the source of revenue, risk factors and application scenarios of the balance treasure through a series of pictures told by a customer. We launched the "cloud customer service" pilot project and launched it in a timely manner after the success of the pilot project to promote the construction of the ecosystem of "customer help customers". We set up a position of "customer experience teacher", whose duty is to represent customers in picking up, finding fault and raising demand. We are closely related to the institutions such as CITIC Bank to improve the efficiency of liquidation and liquidity management so as to protect the future trading demand.

"two" is a new < a href= "//www.sjfzxm.com/news/index_cj.asp" > business spirit < /a > /strong > /p >

the balance treasure project is related to "two": balance treasure and Zeng Li Bao are "two treasures". The project is named "No. two" in Ali, and the project decision was made in December 2012 22.

Later, by chance, everyone in the chat decided that both the core project group members took a flower name with "two", and the project group was also known as the "two team" or "two family".

I pretend to be the "two master", and I am involved in the balance treasure project by some ordinary young people.

innovation must break the rules and not dare to think.

Of course, it is not a random idea. First, we must have the direction and goal we want. That is to achieve the ultimate customer value and experience; second, we must have the method and foundation of thinking, that is, the business accumulation of all sides.

followed by paranoia.

It is common to think of not being able to achieve. To achieve innovation, we need executive power and need to be paranoid.

Because it involves numerous business planning, technological development, internal and external communication, any link "drop off chain" may lead to the whole body, which requires that it be able to decide and act, but there is not much room for compromise and entanglement.

To put it plainly, it is to produce results at the prescribed time (usually unreasonable).

another is "without me".

Such a huge system project is the result of highly coordinated work by the four sides of Alipay, Tian Hong, Jin Zheng, and CITIC Bank. Any common rhetoric, buck passing and game playing, which are common, rely on, and business cooperation, will become obstacles to the project.

There are still a lot of it.

All this, not just some "two".

This is an attitude, and the attitude determines the result to a considerable extent.

The system development and server input before the balance Bao spent at least 4 million yuan.

"In the whole process of balance treasure, in fact, things can not be done, we do not have a one hundred percent grasp, but Celestica fund is willing to invest."

Peng Lei said.

In the first half of this year, the tens of thousands of teams of Celestica fund made technical development in Hangzhou, and worked day and night.

"In the balance of treasure project found the feeling of entrepreneurship, I think they must be two.