User stickiness is a very new concept at the moment. Some Internet companies may have mentioned similar meanings, but no one has proposed this concept in a systematic way.
It won’t do data analysis and questionnaires like Riot Games.
The vast majority of investors who would be interested in Riot Games have experience in Internet investment. The only difference is the amount of experience.
Coupled with the popularity of the Internet this year, you have to take the initiative to understand what the Internet is and what changes it can bring.
As for the chairman of a Hong Kong-listed company who is still making remarks like "I am the only person in the company who does not use a computer. People who sit in front of a computer for a long time will lack creativity" in 2023, their understanding of digitalization is not as good as that of a millennium. .
“Rist Games has user stickiness that far exceeds that of other online game stores, and this is our biggest moat.
There are countless burger restaurants nowadays, why is McDonald’s still the first choice for users? This is also caused by user stickiness.
There will definitely be competitors in the future. Video game distribution channels are a huge market. Riot Games cannot occupy the entire market, and the federation will not allow us to do so.
At the same time, user stickiness determines that even if there are countless competitors, Riot Games can still have a place in the field of electronic game sales.
I just said that we have user stickiness. Next, let’s talk about why we can maintain user stickiness. "
The investors here nodded frequently. They can fully understand the point of user stickiness and abstract its internal logic.
This is a basic skill for the elites on Wall Street. In the future, big A's hot money can associate it with the fact that it is the Year of the Rabbit and that stocks with rabbit names are going to rise. This is all leftover from Wall Street's tricks.
The long-short showdown on Wall Street is filled with gossip.
Investors quickly realized that user stickiness for the consumer industry is the combination of brand recognition, brand perception, and brand loyalty.
Users are willing to purchase the brand's products repeatedly, and these factors are perfectly summarized in just one piece of user stickiness.
They also think of the success of Quora and why Internet companies such as Yahoo, AOL, and News International, as well as traditional media companies, have launched their own knowledge question and answer communities.
However, these knowledge question and answer communities are completely unable to attract Quora users. The fundamental reason can still be summarized in terms of user stickiness.
Therefore, everyone is more interested in the next content of Zhou Xin's roadshow. The definition of user stickiness is easy to understand, but it is just the first time someone has described it in detail.
But how to make a company's products and services have user stickiness, and even maintain user stickiness, is very valuable.
The investors present forgot to applaud, they all sat up straight and raised their ears.
“The three points of community, service and feedback behind me are indispensable parts in determining user stickiness.
Before Riot Electronics Community, there was no gaming community specifically targeting users. After the emergence of the Riot Electronics community, many products imitating ours appeared, but they only learned the shape of the Riot Games community, but not the essence of Riot.
Regarding the specific gap, I believe that Riot Games’ competitors have conducted more than one round of product analysis. I will only briefly summarize that the game forums created by other companies are based on functions, while Riot Games is based on the user experience perspective.
When other game forums see what features Riot has done, we want to make similar features. The first version of the feature often just implements the function, and users don’t know the specific experience.
It was only after user feedback that we realized what needed to be modified.
In the past, there were traditional offline game magazines that developed online websites. Their websites only transferred content from offline to online.
Some of the content in Riot games is created by Riot employees, some is created by the game publisher’s own operating staff, and at most it is created by the users themselves.
Users use the community to get to know other users and develop friend-like relationships, and they can add each other as friends.
You can see what games the other party is playing, game purchases, and some games can be connected online.
He can go to the Riot Electronics community and post reviews based on the corresponding games. With the existence of his personal homepage, other players can clearly see whether he has purchased the game.
This complete ecosystem cannot be replaced by other Internet companies in the short term.
They can copy the functions of Riot, but they cannot copy the content generated by users. They cannot copy the friendships created by users in the process of using the Riot electronic community. What they cannot copy are the beautiful memories that Riot games bring to users.
To use Wall Street parlance, this is the fist’s biggest moat. "
After Zhou Xin finished speaking, the audience finally began to applaud. Although Zhou Xin did not specifically say how to build user stickiness, the content mentioned can provide evidence for the argument that Riot Games has strong user stickiness.
"My son is like this. For the same game, even though it is cheaper on the Yahoo Game Store, he still wants to buy it on Riot Games.
It’s said that you can’t get badges for purchases on Yahoo, there’s no way to get honor points, and there’s no way to rate the game. "
“Doesn’t Yahoo Games also have a game rating function?”
"I don't know about Yahoo. I think they do. I don't know why he insists on rating Riot Games."
"Maybe this is what Newman calls user stickiness."
"Speaking of this, both Quora and Riot Games do have very high user stickiness. Even for electronic payment software, I think NewPay is better to use than other electronic payment software."
After Zhou Xin finished speaking, some investors in the audience started talking in low voices.
There are not only investors but also journalists present. Unlike the private roadshows of the previous two days, today's roadshow at Nasdaq Plaza was a public event, and many reporters came after getting the news.
“The essence behind this is feedback, and Riot Games has a sufficient user base to provide feedback to users.
The same is the rating function, why do users like to use Riot’s ratings? Because any user in other game communities can rate a game, the ratings lose authenticity.
At the same time, the number of users is small, resulting in their rating being only one point.
As for Riot Games' ratings, you can write a paragraph to evaluate after completing the rating, and you can even upload pictures with file sizes within a certain range. Other users can comment and like your review.
Other users may even follow you because the reviews you write bring value to them.
There is a wealth of feedback that is not found in other video game communities and e-stores.
As for services, other gaming communities are made up of simply users and administrators.
In the Riot Electronics community, the members are divided into ordinary users, celebrity users, officially authorized users, official personnel of game developers, official personnel of Riot Games, etc.
The user's own distinction will not make users feel treated differently, but will give them richer playability.
At the same time, we continue to iterate and optimize functions, including the rating system, game badges, friend lists, follow and likes, etc. This series of function iterations and optimizations have forced other game communities to follow us and continue to imitate.
There is a saying posted in our internal conference room: Always imitated, never surpassed. This is also my request for product managers at Riot Games.
Community, service, and feedback complement each other and together have resulted in the current high stickiness of users towards Riot Games.
This is also the biggest reason why it is difficult for other companies to copy the Riot Games model. "
There was a burst of applause from everyone present, and the applause was very enthusiastic among the reporters. Everyone felt very rewarded after listening to it.
These contents alone are enough for them to become a special topic.
In the investor area, applause is polite applause.
For the investor group, what Zhou Xin said is also valuable, at least it makes them realize that Riot Games is a good company.
They have their own unique competitiveness, but this is not their biggest concern.
What they care about is the future growth space, which is the gimmick. They only care about this.
Because all of you here are veterans, and today, everyone can vaguely feel that this is a bubble.
It’s just that we don’t know when the bubble will burst, so we are all playing the game of beating the drum and passing the flowers, thinking that we will not be the last to take over.
Therefore, this issue is important for investors who plan to hold Riot Games for a long time.
But for most investors who just want to participate in this IPO and become the winner of the drum-passing game, they don't care much about this issue.
One more chapter, maybe a little late
(End of chapter)
