Recently, Momo, a social platform with a history of 10, not only changed its Logo, but also changed its company name to "Hello" and updated its corporate values to "Kindness, frankness and enterprising".
Why did you suddenly change your name?
According to the official statement, the word Mo Mo can't cover Mo Mo, exploration, cool Bot (music, variety) and other businesses of Mo Mo Film, and it needs a brand-new name to coordinate.
Many people in the industry believe that Momo's renaming is more about tearing off the soft porn label of "about guns" and reshaping the brand image. So can Mo Mo turn around gorgeously?
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Strangers, social pioneers
Harvest flow dividend
Momo is a pioneer in the social field of strangers.
20 1 1 In March, Momo, whose core selling point is socializing strangers, was born. At that time, China Mobile's Flying Chat was just "born" and WeChat was just in its infancy, so there was a huge market space.
On Momo, users can discover people nearby based on their geographical location, show themselves through videos, texts, voices and pictures, and establish real, effective and healthy social relationships.
In modern society, more and more people tend to find intimate relationships through the Internet. Momo's positioning seems to be more free and casual than dating websites, more exploratory and fresh than instant messaging, and more instant and private than posting Weibo.
The iron-clad market just needed it, which gave Momo an explosive growth soil, and also made Momo reap a big wave of social traffic dividends.
The data shows that in the three months since its establishment, Momo's iOS users have exceeded 300,000, reaching 70 million daily activities in less than three years, and successfully landed on the US stock market Nasdaq on 20 14. In the same year, Momo announced that the number of users exceeded 1 100 million.
But traffic sometimes does not represent profit, which is a common problem of Internet companies.
After trying the modes of membership payment and advertising conversion, Momo seized the live broadcast outlet on 20 15 and found a differentiated live broadcast service. That is, focus on the sexy beauty show, rely on beautiful women to attract attention, get traffic, and rely on the audience to reward profits. This mode is also called "blade licking blood".
Momo, who walks in the gray area, earns real money by live broadcast, and the live broadcast sector accounts for more than 50% of the overall business.
In 20 15 years, in the first year after the transformation of momo live broadcast, the company's profit was13.7 million yuan, and in 20 19 years, the profit actually reached nearly 3 billion yuan (the market value of momo exceeded10 billion US dollars in the same year). In the past five fiscal years, the annual coincidence growth rate has actually reached 300%.
Momo, who was in full swing, also killed other competitors on the track and finally acquired the exploration.
02
Be labeled as "about guns"
The image collapsed and fell into a dilemma.
While harvesting traffic and realizing profitability, the label of "cannon artifact" has also been posted on Mo Mo for a long time.
It is more appropriate to describe Mo Mo with different opinions.
"Miss looking for letters in the upper left corner", "Miss looking for pinyin in the upper left corner" and "Brother with WeChat nearby makes you feel the pleasure in the sky" ... These are some words that still exist in the background of Momo Live Studio.
Negative labels such as soft pornography and sex should not be Mo Mo's original intention, but some roads are out of control when walking.
Not only that.
Momo also frequently falls into criminal cases of sexual assault.
From 20 15 to 2020, Mo Mo will fight against pornography almost every year. In the first half of 2020 alone, Momo was exposed to sexual assault cases 12, including several cases involving girls under the age of 14.
"Gray zone" and "soft pornography" lead to the collapse of Momo brand image and the rapid loss of users.
In particular, female users have fled: the proportion of users of Momo has begun to be unbalanced, and the ratio of male to female has reached four to one.
Negative news makes its reputation decline continuously, which seriously affects the development of its customer market. Momo's share price has also plummeted by 70% from the highest point, and now it has even fallen below the issue price.
For "soft pornography", Momo explicitly prohibits it. In the "Code of Conduct for Momo Platform" that users can see after successful registration, it is mentioned that vulgar content with distorted values and low aesthetics should not be spread. There are even certain requirements for live broadcast dress.
But in fact, the temptation to harvest the flow dividend is irresistible. After all, Momo is in the hormone business. If strict management is strengthened, it may affect the user experience of making friends with some strangers.
If strict control is not strengthened, it will be difficult to tear off the indecent label, which seems to be in a dilemma.
In addition, Momo's own user growth has also encountered bottlenecks. By the end of March, the monthly users of Momo APP were1.1.50 billion, a record high; However, compared with 654.38+0.08 billion in the first quarter of 2020, it only increased by 0.09%, and the growth rate was slow.
It can be said that Momo urgently needs to find a new breakthrough to drive the growth of new revenue business, but obviously it is easy to make a bad impression under the name of Momo.
03
Rename Hello group
Can you reinvent your brand?
With the strengthening of supervision and the rise of short videos, social apps have obviously "cooled down" in recent years. The era of Mo Mo has passed.
Momo, whose brand image was negatively dragged down by pornography, went from bad to worse. The traditional live broadcast business is slowing down, and even adding "fresh blood" exploration has not alleviated the dilemma.
This is also reflected in the recent financial report.
Momo's quarterly report 200211 shows that the company's revenue in the first quarter was 3.4706 billion yuan, down 3.4% compared with last year, and its net profit in the first quarter was 4.6 46. 17 billion yuan, down/kloc-0.5% compared with last year.
In the face of difficulties, Mo Mo hasn't thought about changing.
In recent years, we have been trying to replace users' inherent image of Mo Mo by creating new brands, such as video social tools "eye to eye" and "right to right"; Beauty social software "Muncie"; Location dating software "Moduoduo" and Yan value social software "Wow", and recently "Kaka".
However, it is clear that these products are still playing around in social scenes, and the brand image of Momo's social interaction has always been associated with the hormone business. Its own "about gun" label has been deeply rooted in the hearts of users and it is difficult to get rid of it.
So, this time, Momo simply changed the group name.
The starting point of changing the name and attitude is a good thing, but the brand-new image has not yet reached the market and the business has not changed. Simply changing the name can't help Hello Group get rid of the burden of "yellow fraud".
Moreover, in the era of rapid iteration of the mobile Internet, the ten-year APP seems to be old. The rising generation Z no longer favors Momo, but prefers short video platforms such as Tik Tok and Aauto Quicker.
Obviously, Momo, who suffers from "beauty live broadcast dependence" in revenue, needs to find new growth points to attract new users. The core problem of this brand can't be solved, and it is difficult for Momo to be reborn from Momo App.
Wang Li, the successor of Mo Mo, positioned himself as the "broken wall" of Mo Mo. He said that what Momo is doing now may be to seek opportunities to break the circle from new business and mention human-computer interaction and hardware. In what form will the future "break the wall"? The industry is waiting for the answer.