Mushroom Street Chen Keynote speech: Social electric dealers I'll cut into two parts myself.

News and information Science and technology March 22, by the group of the seventh annual Iris, Eric, held today in Beijing. This year's 2-day annual meeting, the first day of many industry leaders to participate in the Summit forum for Exchange and discussion. March 23 The next day, the industry elite on-site Multidimensional Analysis of industry dynamics, sharing successful experience and unique insights. Mushroom Street founder and CEO Chen a keynote address.

"The socialization of the electrical business I will cut into two parts, will be divided into social shopping and social sales, these two perspectives are very different, for Mushroom Street We do is social shopping, we are socialized to help consumers to buy things," Chen said.

Chen also believes that many people take us as the image of the site is very important reason, because we display the way the product is particularly waterfall wall. Call it inside of us, this wall is a picture.

The following is the founder and CEO of Mushroom Street Chen speech record:

Chen: Hello! My name Chen is the founder of Mushroom Street. Today we share some of the experiences we have made social shopping in recent years.

Every time we are asked why users come here to share, this is a very central issue for the social electrical business. Before I begin, I would like to talk about the phenomenon of Mushroom street. This is our year to grow the curve, we are now about 13 months, the right data is up to the first anniversary of the time, about 1.6 million of the visit every day, 80 million PV, each user 50 pages of browsing volume, 6 million registered users, yesterday, more than 8.1 million registered users, More than 2 million registered users have recently been able to grow in almost every month. February every day about 4 million of Taobao's turnover, the recent month in 500, 6 million of the appearance of a certain growth. Director Cao said last year our income was 10 million, that passed not so much. From Taobao data we are the industry's more advanced, in the Commission is ranked first, but last year certainly did not. This year should be very relaxing.

The question I mentioned just now is why do users share? This is also a matter of great concern to us, the so-called socialized electric business I will cut into two parts, will be divided into social shopping and social sales, these two perspectives are very different, for Mushroom Street We do is social shopping, we are socialized to help consumers to buy things. Today many of the colleagues who do E-commerce are very concerned about the socialization of the problem. People are really concerned about selling things through social networks. But I think whether from the point of view of buying and selling, there is a point in the middle of the so-called conversion rate, conversion rate is very important to measure both sides. High conversion rate indicates socialization action OK. How to achieve conversion rate? We traced the problem to how many of our 8 million users would share and what the quality of sharing would be if we were doing social marketing. The fundamental purpose is why users share.

I give you public some data, Mushroom Street released every day of the goods are very large is not a source of trust, the so-called unreliable sources have their own hair, find a child care to hair, last year when a lot of serious business are said. Taobao now can be said that the mushroom street can be found to do such a thing. We spent a great deal of time last year dealing with such behaviour, including our operating system, including technical tools, especially technical means, to identify this type of untrusted source. Here 78% of the unreliable source is by our machine, the system directly identified, this person's sharing is purposeful, sharing is problematic. Of the remaining 22% of credible sources, 3% are the key sources, the key source measure is that the conversion rate of what this user is sharing is consistently high, and it is likely that in a woman's platform such as Mushroom Street, the girl's aesthetic taste is good, and the things she shares are always sought after by many people, The user becomes the focus of the user, her vision is very accurate, conversion rate is very good. 78% is not credible, the middle 3% is the focus and is the source of OK.

This columnar figure is very high is like, like is Mushroom Street most basic movement, front end someone to share into 2 million in doing, they do most is like, this action is probably every day 100多万次. On the left is a summary of all the other behaviors on the Mushroom street. This is not very clear, the bottom of the green is published, that is to say, share the action, that is, the movement to share goods. And then on top there's a thin layer of creating a new album that we can understand as a collection, these two actions are comparative biased in favor of the user to share the action of collecting things, these two actions together and like the proportion of the action is very small, the user initiative to send things to share something to the action is very small, But the movements they like are very, very much. The third data album can be understood as favorites, more than 10,000 albums are created every day, and we want to find some good albums to recommend to other users, and the first consideration we make for this album is that there are so many people here, can we integrate these things very well, To show others how to share this action, but in more than 10,000 albums a day, about 20 or 30 people we think can reach a certain level, that is, it is worth recommending, this problem because the album this action in China to do pictures of the site will be many, There are very few quality things that really come out for others to see. The reason behind this is that education is very good in China, there are very few users with good aesthetic taste and sharing spirit. After these three data, is not we will arrive a credible source, publishes one kind of active action the proportion and has the certain level to be worth being looked at the proportion of things, these three data comes out later we will obtain the very pessimistic result, is not the user is unwilling to share. This actually bothered me for a long time, the earliest when we started to do Mushroom Street when the imagination is not the same as now, but the core is to let users share their good experience, especially girls. But today there is such a result, should we be very pessimistic?

This is a lot of people think of us as a picture site is very important reason, because we display the way the product is particularly waterfall wall. Call it inside of us, this wall is a picture. At first we paid special attention to the conversion rate, to the conversion rate. I've actually been very concerned about breaking it down into three angles, the first one is the display of goods and the second is the breakdown of goods. The third is the shopping guide. When I was making Mushroom street, I always attached importance to the ordering of commodities, and I had the most basic sort of commodity model, it was like a waterfall, the new product published by the user will be posted on the top, like a waterfall falling down quickly, until someone likes it. It will crawl on the internet a little, if no one likes to fall down, such a result will ensure that the results of this search is new and hot results, for girls, hot and fresh things.

This result is especially suitable for female users like Mushroom Street to pick things up, and female users pick things that are not like men buy an electronic product to compare each data to the last price. Women to pick things when the biggest thing is because of paragraph, is a very subjective process, very objective results are not much significance. What we want is a new and hot result. When we make this kind of thing to come back and then think about why users like to like, but do not like the problem of goods. I have to come out of this place the conclusion that the big user or self-interest, this is a core idea. True sharing is a selfless spirit. There are such people do not rule out, including we have said that after all, 1%, 2% of people are doing these things, but more people are for themselves, they like, point this skirt is not to tell everyone the skirt is good, but because I like to collect it. So one of the things we're doing for our platform is to collect a lot of these users ' self-interest by using a simple mathematical model to get a result in a technical way, a result that is altruistic. So we've come to the conclusion of this matter today, not that the user is willing to share the problem, but what we collect self-interest user behavior, create which users of self-interest behavior, and then through what mathematical models and programs to the sort of selfish behavior to split again to show more people. For them to become altruistic effect.

So we're going to go back to practice, before we had a mushroom street free regiment of things, very simple is there is a thing everyone likes, can buy, the middle of a girl especially like this thing, said my side has 200 sisters to regiment, can cheap 5 dollars. The logic of this product is also for their own, point to buy, one of the people like him, more himself he went to find the seller said can be a little cheaper. But the result is that the seller dropped a little price, the process of the seller is rational, so we will through a product or a logic to collect and summarize the user's self-interest ultimately get altruistic results. I was writing ppt when I saw "Beautiful Mind" just to say that, "the pursuit of personal interests to help achieve public welfare", this is what Adam Smith said, this just to express what I have just said. Thank you!