Harvard Case - Bestore at Douyin: Racing on a New Track of Marketing
"Bestore at Douyin: Racing on a New Track of Marketing" Harvard business case study is written by Zuohao Hu, Qianmin Sun, Yiyang Hu, Ziqian Zhao. It deals with the challenges in the field of Marketing. The case study is 14 page(s) long and it was first published on : Jul 9, 2023
At Fern Fort University, we recommend that Bestore leverage Douyin's unique platform features and user behavior to create a comprehensive digital marketing strategy focused on building brand awareness, driving engagement, and ultimately, boosting sales. This strategy should encompass a multi-pronged approach, incorporating elements of social commerce, influencer marketing, live streaming, and data-driven personalization to achieve sustainable growth in the competitive Chinese e-commerce landscape.
2. Background
The case study focuses on Bestore, a leading online retailer in China, facing a critical decision: how to effectively leverage the Douyin platform (TikTok's Chinese counterpart) to reach new customers and drive sales. Bestore, known for its high-quality products and competitive pricing, is seeking to capitalize on Douyin's massive user base and unique features to expand its reach and solidify its position in the market. The key protagonists are:
- Bestore: The online retailer seeking to expand its reach and sales through Douyin.
- Douyin: The popular short-form video platform in China, offering a unique opportunity for brands to connect with consumers.
- Consumers: The target audience for Bestore's products, who are increasingly engaging with brands on Douyin.
3. Analysis of the Case Study
The case study presents Bestore with a compelling opportunity to tap into the growing power of Douyin's social commerce ecosystem. To analyze Bestore's situation effectively, we can utilize the following frameworks:
a) SWOT Analysis:
- Strengths: Bestore possesses strong brand recognition, a wide product selection, and competitive pricing. They also have a strong understanding of their target market and established logistics capabilities.
- Weaknesses: Bestore lacks experience in leveraging Douyin's specific features and may face challenges in adapting its marketing strategy to the platform.
- Opportunities: Douyin offers a vast user base, a highly engaging environment, and powerful social commerce tools. Bestore can leverage influencer marketing, live streaming, and personalized recommendations to reach new customers and drive sales.
- Threats: Competition on Douyin is fierce, and Bestore needs to differentiate itself through unique content, engaging experiences, and effective targeting.
b) PESTEL Analysis:
- Political: China's government policies regarding e-commerce and social media platforms influence Bestore's operations and marketing strategies.
- Economic: The Chinese economy's growth and consumer spending patterns impact Bestore's market potential and pricing strategies.
- Social: The rising popularity of short-form video platforms like Douyin and the increasing reliance on social commerce present significant opportunities for Bestore.
- Technological: Advancements in AI and machine learning enable personalized recommendations and targeted advertising, enhancing Bestore's marketing efforts.
- Environmental: Sustainability concerns and ethical considerations are increasingly important for consumers, impacting Bestore's product development and branding strategies.
- Legal: Data privacy regulations and intellectual property rights need to be considered by Bestore when operating on Douyin.
c) Marketing Mix (4Ps):
- Product: Bestore's product portfolio needs to be tailored to the preferences and needs of Douyin users. This may involve developing new product lines or highlighting existing products that resonate with the platform's audience.
- Price: Bestore's pricing strategy on Douyin should consider the platform's competitive landscape and the expectation of value-driven offers. They can leverage promotional campaigns and exclusive deals to attract customers.
- Place: Douyin's social commerce features provide a unique distribution channel for Bestore. They can leverage the platform's integrated shopping capabilities and partnerships with influencers to reach consumers directly.
- Promotion: Bestore's promotional strategy should focus on creating engaging content, leveraging influencer marketing, and utilizing Douyin's live streaming features to build brand awareness and drive sales.
4. Recommendations
To effectively leverage Douyin's potential, Bestore should implement the following recommendations:
a) Develop a Douyin-Specific Marketing Strategy:
- Target Market Segmentation: Identify and target specific consumer segments on Douyin based on demographics, interests, and purchasing behavior.
- Brand Positioning: Develop a clear and compelling brand positioning strategy that resonates with Douyin's audience.
- Content Marketing: Create high-quality, engaging content that showcases Bestore's products and values. This should include short-form videos, live streams, and interactive content.
- Influencer Marketing: Partner with relevant influencers on Douyin to reach a wider audience and build credibility.
- Social Commerce Integration: Leverage Douyin's integrated shopping capabilities to facilitate seamless purchasing experiences.
b) Optimize Douyin's Features:
- Live Streaming: Utilize live streaming to showcase products, interact with customers, and drive sales.
- Personalized Recommendations: Leverage Douyin's AI-powered recommendation engine to personalize product suggestions for individual users.
- Douyin Ads: Utilize Douyin's advertising platform to target specific audiences and promote products effectively.
c) Data-Driven Decision Making:
- Marketing Analytics: Track key performance indicators (KPIs) like engagement, conversion rates, and return on investment (ROI) to measure the effectiveness of marketing campaigns.
- Customer Relationship Management (CRM): Implement a CRM system to manage customer interactions on Douyin and personalize communication.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Leveraging Douyin aligns with Bestore's mission to reach new customers and grow its business. The recommendations build upon Bestore's existing strengths in product quality, pricing, and logistics.
- External Customers and Internal Clients: The recommendations cater to the needs and preferences of Douyin users while providing internal teams with the tools and resources to effectively manage the platform.
- Competitors: By understanding the competitive landscape on Douyin, Bestore can differentiate itself through unique content, engaging experiences, and effective targeting.
- Attractiveness: The recommendations are expected to generate significant ROI through increased brand awareness, customer engagement, and sales.
6. Conclusion
By embracing Douyin's unique features and user behavior, Bestore can unlock significant growth opportunities in the Chinese e-commerce market. A comprehensive digital marketing strategy incorporating social commerce, influencer marketing, live streaming, and data-driven personalization will be crucial for Bestore to succeed in this dynamic and competitive environment.
7. Discussion
Alternative strategies include focusing solely on traditional advertising or relying on organic content growth on Douyin. However, these approaches lack the potential for rapid growth and engagement that a comprehensive strategy offers.
Key risks include the potential for negative brand perception from poorly executed campaigns, the need for continuous adaptation to platform changes, and the challenge of managing a diverse team across multiple platforms.
8. Next Steps
Bestore should implement the following steps to effectively execute its Douyin strategy:
- Phase 1 (Short-term): Develop a pilot program to test different content formats, influencer partnerships, and advertising strategies.
- Phase 2 (Mid-term): Based on the pilot program's results, refine the strategy and scale up marketing efforts.
- Phase 3 (Long-term): Continuously monitor performance, adapt the strategy based on data insights, and explore new opportunities on Douyin.
By taking a strategic and data-driven approach, Bestore can successfully navigate the competitive landscape of Douyin and achieve sustainable growth in the Chinese e-commerce market.
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Case Description
This case narrates Bestore's initial success as a regional snack food brand and goes on to introduce its multiple channel innovations, i.e. from running 100% self-operated stores in central China to opening franchise stores all over the country, then to striking online-offline balance in revenue, and finally to finding ways to increase its presence in a rising channel, Douyin, also known as the Chinese version of TikTok, a globally popular short-video-themed social software on smart phones. As Bestore's founder, Yang Hongchun, observed that Douyin was attracting increasing user traffic, he decisively assembled a team to build business there. However, it seemed that the underlying logic between traditional e-commerce platforms and Douyin's e-commerce model was largely different. He needed to push for constant iterations on the part of the Douyin business team based on the data service and with the tools provided by the Douyin platform. In addition, the team also needed to grow its capabilities in many aspects to adapt to business on Douyin, such as having a familiar understanding of the new fads and creating contents that could resonate with Bestore's target customer groups. Bestore was just a small firm compared to western food conglomerates. As Bestore already had a complex online and offline channel system, was it worth the sweat to further invest in creating and running more Douyin accounts?
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