As the capital market enters the cold winter，A large number of O2O projects are on various death lists。Actually，From the perspective of primary market value investment，There is no winter season，Only winter items。So-called，The tide recedes，Just know who is swimming naked。No matter how the situation changes，The nature of business has never changed。What the Internet has changed is only the way and path of connecting market elements，Therefore will bring about different cost structure，In other words，The Internet can change the service format from a macro perspective，But the properties of the service itself cannot be changed microscopically。Whether 188bet mobile login the Internet era or the mobile Internet era，Respecting business common sense is still particularly important。The power of capital can transcend the local area，But it cannot penetrate the inertia of business logic。Those who follow the rules will prosper，Those who rebel will perish。

The power of capital can partially change the degree of "excitement" when entering an O2O project，Provides energy to the "heart"，But 188bet mobile login cannot replace the power of the "heart" itself。So，O2O projects must maintain continuous financing capabilities，Must conform to the logic of business and market itself。Combined with various O2O projects that I have seen before，To sort out some superficial understanding of O2O projects。This article continues to maintain the original style，Only metaphysical logical analysis，Not involved in specific cases。If you resonate with me，Please check your seat by yourself。You are welcome to discuss specific case analysis with me offline。

The essence of O2O in the narrow sense: mobile 188bet mobile login e-commerce

Fundamentally speaking，There is no essential difference between selling goods and services through the Internet。So，O2O can also be divided into commodity O2O and 188bet mobile login O2O。Usually O2O in our narrow sense refers to 188bet mobile login O2O。

Except for a few businesses (such as Internet finance、Online e-book sales) except，Most Internet commerce is O2O。Taobao is a generalized O2O e-commerce platform，It’s just that Jack Ma has done everything the Internet can do、He did everything he wanted to do，Remove the hard work offline that he doesn’t want to do and can’t do well、Dirty work、The hard work is left to the majority of Taobao stores。The reason why the concept of O2O appeared later (O2O in a narrow sense)，Essentially, it’s because of the essential difference between products and services。In my concept，188bet mobile login tangible or intangible to distinguish products and services。

Real product its production、The three links of delivery and use are separated，Therefore, large-scale reproducible production can be carried out through the large factory system，Then distribute through the large logistics system to reduce costs，This is the fundamental reason why all B2C e-commerce can develop now；Strictly speaking, 188bet mobile login serves its production、Delivery and use of these three are one (such as beauty)，That is to say, consumers must work with service providers to "provide" this service，The Internet can only solve online things，Offline matters must be done offline，This is the origin of O2O。

The characteristics of the service itself that cannot be encapsulated，Decided that services cannot be produced in different places like products，Offsite delivery，188bet mobile login must be localized delivery or face-to-face delivery。Therefore，Most O2O projects are city-wide or regional，That is, its user density and resource density are matched within the same city or region。Therefore，From a user experience perspective，To achieve resource density and user density in the same city or regionalization，Step by step is the way to ensure "efficiency in spending money"，Otherwise，Blindly racing to enclose the land，188bet mobile login will only waste precious resources in the early stage of starting a business。

188bet mobile login trap: either "go ashore" or "go to the island"

Many projects are 188bet mobile login early stages of entrepreneurship，All are cut from the perspective of vertical subdivision，This is natural，After all, resources are limited 188bet mobile login early stages of starting a business，Cutting in from a vertical angle has more advantages in positioning and sharper resources。But 188bet mobile login long run，Staying vertical may not be a sustainable strategy，This is not even based on the subjective will of the management。188bet mobile login long run，Scale cost (marginal cost under optimal scale) is the ultimate factor that determines the ultimate pattern of the industry，Heavy verticality may not be sustainable 188bet mobile login long term。As the subdivision industry matures，The economies of scale of single vertical projects have reached their limits，Both user density and resource density are divided, resulting in duplication of investment 188bet mobile login industry，Merger of the same industry is a necessity of commercial rationality。Therefore，Projects entering the vertical field need to consider whether there is enough time window to achieve "going ashore" (independent IPO) or "going to the island" (acquisition)。

Generally speaking，Whether 188bet mobile login product e-commerce，Still an e-commerce service provider，The innate factor in maintaining verticality is: the vertical market segment itself is large enough、Scene isolation、Capability specificity、Resource exclusivity、Supply chain specificity、Long value chain，Requires and can insert stubs。The acquired factors for maintaining verticality are: strong team execution、Strong brand marketing capabilities、Strong financing ability、Start early、Expand tonnage quickly。Many so-called heavy vertical projects that do not meet the above conditions may eventually encounter "vertical trap death"。For example，Ridesharing and driving in a sense，An information service，Not O2O in the true sense，There are not many points where the platform can “insert”，The final battle is user density and resource density。When big platforms intervene，It’s not surprising that the ride-sharing and driving projects that originally started from a vertical perspective quickly collapsed (of course，Being acquired is considered a success)。

Those low-frequency vertical O2O projects can exist independently in the early stage，But before it "goes to the island" or "comes ashore"，The fate of being acquired or eliminated by the high-frequency integrated platform is inevitable，This is the dimensionality reduction attack of high frequency on low frequency。Because the high-frequency comprehensive platform broadens the "value width", 188bet mobile login in line with users' expectations and can better stick to users，Can also achieve horizontal economies of scope，This is the rule。But for those vertical O2O projects that have “deep trenches and high barriers”，Integrated platforms are not so easy to snipe。

Middle 188bet mobile login positioning: providing medium to high services at medium to low costs

Traditional offline service formats are usually "big markets、Characteristics of "small workshops"，Long resource delivery chain、Lack of control over service quality、Price is not transparent，Therefore，The market is operating at sub-optimal efficiency。Transforming traditional industries with the Internet，188bet mobile login to achieve the improvement of market concentration，To provide more standardized services。For O2O projects，Usually choose "middle market positioning" to enter，Provide medium to high service quality at medium to low cost (scale effect)，So as to satisfy the "universal" needs of mass users in the market、Explicit、rigid need” (please refer to the analysis section on “product thinking” in Liu Yizhou’s “Ten Kinds of Thinking Needed for Entrepreneurship and Investment”)。Such a positioning is important for Internet companies，More suitable for the power of capital，Realizing the integration of user orders and service resources。

O2O paradigm: 188bet mobile login + resources (goods) + services

For most O2O projects，“Information + resources (commodities) + services” is its basic paradigm。The 188bet mobile login is responsible for the integration and supply of information (orders) and resources (commodities)，The services are integrated by "crowdsourcing" (including self-operation and franchise)。

The most fundamental difference between Internet business and traditional business is that the traffic mechanism has changed。Traditional commerce relies on offline geographical presence to guide traffic，Internet businesses rely on online information platforms to aggregate user traffic。This change reconstructs the density and space of offline 188bet mobile login resource distribution，Thus achieving matching of user density and resource density on a larger scale，Further solves the suppression of market efficiency caused by time difference and space difference。

For O2O projects，"Information" is the lightest，“Resource” is heavier，And "188bet mobile login" is the most important。As long as you have the advantage of scale，Optimizing and integrating resources to improve the efficiency of the supply chain is not a problem，But how to penetrate "heavy" services in the long term is the biggest growth bottleneck。

Breaking through the iron triangle: scale, quality and 188bet mobile login

In the usual sense，The larger the scale, the greater the scale cost advantage。But for O2O projects that are inseparable from “188bet mobile login”，How to achieve scale breakthrough while controlling quality and cost is the biggest test。Therefore，O2O projects should focus on offline，How to establish an effective operating mechanism and profit mechanism to ensure high quality and low cost under scale is the key to determining whether the O2O project can break through。

Very important for the management of offline resources，But management should be "management" in many cases，If you straighten 188bet mobile login out, 188bet mobile login will naturally be managed，In other words，Management problems should be solved through profit methods。But this is only a necessary condition rather than a necessary and sufficient condition，Operation control of the platform (such as permit certification、Training and Counseling、Elimination mechanism, etc.) are still indispensable。No management，There is no quality。

Value guarantee: 188bet mobile login bonus, management bonus, brand bonus

Due to serious information asymmetry，Traditional 188bet mobile login industries usually present a "big market"、Small workshop” and the status of “bad money drives out good money”。This is obviously a "Prisoner's Dilemma"，Both users and merchants are not satisfied。But when you really want to change，Many O2O platforms believe that their existence is valuable if they can bring traffic to offline merchants，But in fact，Maybe I overlooked something，In the long run，What incremental value have you brought to this market？If the deep-seated information asymmetry cannot be solved，Thus promoting the healthy development of the market，The platform has lost its continued value (because the original offline merchants have covered users relatively effectively)，In this sense，The platform has become the organizer of the market。

The traditional service industry relies on geographical location to divert traffic，Thus formally over-dispersed，As a result, each company does not have the advantage of scale，Thus in the supply chain、Personnel training、Management regulations、Information system、188bet mobile login impossible to make effective and necessary investment in brand building and other aspects。Internet platform is centralized through large-scale order placement，Thus obtaining the rationality and feasibility of making these necessary investments。In addition，When the originally scattered user density and resource density are concentrated on one platform for matching，Convert the original "private cloud" into a larger "public cloud"，Thus unlocking higher matching efficiency and effectiveness。This is the network effect dividend of the platform itself。

For O2O projects，Once a closed transaction loop is formed，188bet mobile login means that the platform has actually become a virtual service provider in a certain industry，You must endorse the service quality of offline stores (regardless of whether the property rights of offline stores belong to the platform)。Because，The money is given to you。Then there are two ways to achieve this kind of service quality guarantee: the first is forward guarantee，That is to provide management standardization by formulating SOP or implanting SAAS software platform，The second is backward guarantee，That is, distinguishing the good from the bad through the accumulation of online consumption data，Let the market force the store to improve its service quality，Because when the information is completely symmetric，Market selection allows good money to drive out bad money，Thus activating the Matthew Effect。This is the management dividend that the O2O platform must release。

For the O2O field，Brand is very critical to cracking the "trust asymmetry"。In a sense，There is an interlocking effect between brand and quality。The quality of a product or service is determined to some extent by its brand，The reason is，When the brand as a dominant signal cannot bring brand premium to the product or service，Businesses have little incentive to invest excessively in quality。So，In traditional service format，188bet mobile login inevitable for merchants who lack brand effect to sell substandard products because they cannot afford high prices。For O2O platforms that need to integrate these traditional service merchants，Establish a unified brand endorsement，188bet mobile login an indispensable value element to help merchants win the trust of customers。Of course，Brand is actually a weak guarantee for quality，When benefits and costs are asymmetric，Offline merchants may engage in speculative behavior。Therefore，As a platform party，Not only must provide “brand dividends” for offline merchants，There is a greater need to provide "management dividends" for the entire market，Only in this way can "good coins drive out bad coins"，Achieve healthy business format。

In a word，O2O platform as the market organizer，Must bring incremental value to change the original business format，Let 188bet mobile login quality and business conscience return。

“Burning money” is not a problem，The key is to “burn” 188bet mobile login to have strategic value

In guiding user habits，Burning money is undoubtedly the most direct and effective method。So，Most O2O platforms after getting the money，We will use subsidies to increase the number of users and orders。Without a doubt，Initial money for starting a business，They are all “high-energy currencies”，Therefore，Think about how to spend these “high-power currencies”，188bet mobile login a very critical strategy in the early stage of starting a business。Generally speaking，If the services provided by the platform have sufficient transcendent experience or alternative inflection point value compared to traditional offline methods，Then this kind of user accumulation is of supporting value for winning the next round of financing，Otherwise，If only low-cost stimulation satisfies users’ psychology of “taking advantage”，188bet mobile login easy to be “unresponsive”，Thus dying on the road to dreams。

If we only rely on capital subsidies to provide users with low prices in the short term，And 188bet mobile login lower than the cost price for a long time，From the perspective of the ultimate state (see Liu Yizhou’s analysis of “ultimate thinking” in “Ten Kinds of Thinking Required for Entrepreneurship and Investment”)，The cost of service delivery cannot be structurally lowered through new business models，Then such “burning money” is meaningless。

Only a closed loop of transactions has no 188bet mobile login, and a closed loop is also a hooligan

The early O2O platform was approached from the perspective of information services，Later everyone realized，O2O that cannot form a closed transaction loop is a rogue。But，For O2O entrepreneurs，188bet mobile login not enough if the understanding only stops here。For users，The method used to obtain the method is actually not the most important，What kind of service is the core of his mind。Therefore，Our understanding of services must start from the user’s satisfaction expectations，Systematic analysis of what necessary value factors are needed to provide users with unimpaired final value (see the "Value Factor Thinking" section mentioned in Liu Yizhou's "Ten Kinds of Thinking Required for Entrepreneurship and Investment")，Then analyze which value elements “can” be handed over to “crowdsourcing” parties，Those value elements that cannot be completed by "crowdsourcing" parties or whose quality cannot be guaranteed (such as access、Certification、Detection、Brand endorsement、Guarantee、Financial services, etc.)，The platform must find a way to provide it，Regardless of whether 188bet mobile login self-operated or matching mode。The platform cannot adopt the "ostrich strategy"，Only focusing on forming a closed trading loop，And let the value chain leak，Otherwise, you will still encounter the bottleneck of heavy volume in the later stages of growth。Everything that can be completed by the market，It can be integrated through market rules，Everything that the market cannot provide，The platform must ensure that 188bet mobile login provided。What’s missing，What to add。

"Heavy" is not the key, the key is to be able to "heavy" 188bet mobile login out

Many people think of O2O，188bet mobile login will feel too heavy。Actually，I don’t entirely think so。The essence of any business model is "profit = revenue - cost"，If this formula can still ensure sufficient profits despite the large scale and volume，Then this project is valuable。So，In my opinion，“Heavy” is not the key，The key is to be "heavy"。The so-called "heavy" includes two aspects: first，There is enough "skimming" (gross profit) to offset the cost increase caused by "heavy"，Second，Be able to break through the "scale、Quality、Constraints of the “cost” iron triangle。The hot bulk trading area this year，Many are based on the classic O2O paradigm of “information + resources + services”，The key is that the market is big enough、The price per customer is high enough，The gross profit obtained from large-scale transactions can far exceed the operating and management expenses of the platform。Is 188bet mobile login hard to dig coal?？Hard work，You have to dig out the key，Someone helps you dig，Can be sold at a good price。

Of course，The lowest bottom line such a platform can make is，Able to reconstruct through resources and information，Able to penetrate this “heavy” service process，If 188bet mobile login too heavy to penetrate，I will eventually die from exhaustion on the road。

Home or store: user habits、Scene、Light 188bet mobile login Vs heavy 188bet mobile login

For O2O service platform，Home or store is a question worth thinking about。There is actually no standard answer to this question，I think it should be based on user habits、From the perspective of specific scenarios and service priorities。Generally speaking，Dimensions of user decision-making include: cost、Convenience、Environmental experience、Consumption Habits、Value Thickness。Generally speaking，For functional consumption，Users consider cost and convenience more，So 188bet mobile login easier to choose home service，For experiential consumption，Users may consider environmental experience more、Consumption habits and value of services，Thus more willing to accept the in-store service model。For example, door-to-door beauty treatment、Door-to-door car washes etc. may be due to poor environmental experience、Not enough value、Failed due to heavy service attributes and other reasons，But door-to-door manicure、Light services such as door-to-door laundry are feasible，Of course, whether 188bet mobile login ultimately feasible depends on whether the user’s needs can be covered by the full scenario，Some O2O service platforms with too narrow value width may eventually encounter "vertical trap death"。

The future of 188bet mobile login: O2O full scene coverage

Personally, I think the biggest difference between offline retail and online e-commerce is: warm connection！Online retail (e-commerce) hopes to achieve the connection and delivery of people and goods with greater scale effects and lower costs，But the early development of e-commerce is actually inefficient，The reason is that the early order density is not enough，Backbone Logistics、Branch logistics and capillary logistics are broken up to some extent，But after passing a certain scale turning point，The three major costs of enterprises (customer acquisition costs、Delivery Cost、Management costs) can be reduced，Thus forming a certain substitute for offline retail。But in my personal opinion，Offline retail will definitely not be completely replaced by online e-commerce，The demarcation between them depends not only on the overall connection cost of the two modes (either mode usually faces a balance between the two competing costs)，188bet mobile login also depends on the balance point of differentiation of user purchasing scenarios。In other words，In the future, user purchases will definitely be divided into two scenarios: in-store and home。For high frequency、standard product、Low price、Demand for non-experiential purchasing，People may choose to buy online，And for low frequency、High price、Non-standard product、Demand for experiential purchasing，People may choose to shop in stores。Offline retail stores are essentially a traffic node and logistics node，As a traffic node，Part of its pure connection function will be replaced online，Thus optimizing the efficiency of supply chain and logistics，The experiential lifestyle function can never be replaced by the Internet，Because the network connection has no temperature。So，Personal feeling，The future retail format should be online to offline (Online2Offline)、Onsite2Offsite full scene linkage。So，The bet between Jack Ma and Wang Jianlin may actually be a false proposition。

Why JD.com invests in Yonghui Supermarket？Because JD.com’s transaction volume is large，But 188bet mobile login still a small share compared with offline transaction volume。Guide users from offline to online ordering，Although a certain degree of traffic concentration has been achieved，But it also leads to too concentrated distribution in the last 10 kilometers，This makes it impossible to achieve "dimension reduction diffusion" in the last mile (Note: I personally believe that there is "segmented transportation" in logistics diffusion、Trunk priority、Graded assembly、The law of dimensionality reduction and diffusion，Only in the Internet era，Due to the flattening of the supply chain，There are fewer hierarchical assemblies，But not completely eliminated)，188bet mobile login also impossible to effectively eliminate the cost of "reverse logistics"。But，Due to the low order density in the early stages of e-commerce development (although JD.com is already very big)，188bet mobile login temporarily impossible to advance the "bridgehead" of distribution to the community level，In this case, not only the order volume cannot be supported，And the cost of the terminal distribution station will also be very high。When the existing convenience stores are introduced，Not only can meet users’ needs for offline consumption scenarios，At the same time, offline stores can also be used as a logistics node，Compared to standard category products, their function as traffic nodes is weakened，So that online to offline can be realized、Full scene coverage from home to store。After all，Currently the majority of retail sales are offline，If JD.com doesn’t seize offline stores，Theoretically，It faces strategic threats from other O2O e-commerce。

Pay-per-view 188bet mobile login eventually replace card consumption，Return consumer sovereignty to consumers

Traditional merchants rely on geographical location and brand mechanism to divert traffic，So its user traffic is a “small funnel” model。So for those requiring higher fixed asset investment (such as beauty salons、Fitness clubs, etc.) for service industries，The binding consumption model of purchasing cards has gradually formed。The deep-seated reason why this model can persist is，Businesses lack strategic confidence in marketing，So we have to bind a group of fixed users to reduce business risks。On the one hand, this model will suppress a large part of long-tail demand，On the other hand, 188bet mobile login kidnapped customers’ freedom of consumption。

In the era of mobile Internet，Through the platform, you can select more pay-per-time consumption and "bundle" 188bet mobile login into batch consumption，So not only can the price be reduced，188bet mobile login will not lose the interests of merchants (if the predictability of orders can be guaranteed, merchants can be equivalent to traditional batch consumption)。Why can this be done？Because traditional merchants use "small funnels"，The mobile O2O platform plays a "big funnel"。This is the platform dividend achieved in the mobile Internet era，Not only can consumer sovereignty be restored to consumers，188bet mobile login can better realize the value of platform operators。

O2O 188bet mobile login vertical field needs "deep trenches and high barriers"

For O2O platforms in the growth stage that start from vertical fields，The blind pursuit of lightness may not be a good thing。Under the premise of ensuring "recovery"，“Deep ditch and high barrier” is the effective way to build barriers，188bet mobile login also a necessary means to ensure the value of services。The so-called "deep ditch" is what was analyzed above，Strengthen the protection of various value elements through the platform，Achieving valuable “instrumentation”，The so-called "high barrier"，188bet mobile login to provide a transcendent service experience (high cost performance) through the platform，Thus satisfying "universal、Explicit、High frequency、Just needed”，Quickly realize the accumulation of user pool。Only those with these characteristics，Projects with superior performance on the runway，In the end there is hope of success。

One final point，I have no doubts at all，Whether 188bet mobile login service O2O or product O2O，There are successful projects that can be made，But we must provide continuous incremental value to the market。But，In today’s situation where there are many giants and they join forces (merge) with each other，The latecomer vertical O2O project must break through，Be sure to "deep ditch and high base" on their respective runways within the time window，At the same time, we must try to make the "heavy tank" run faster than the "Hummer"。