Chapter 7 Time makes heroes: Jiang Nanchun ushers in a new era of China's focus communication

Before the opening bell of Nasdaq rang, for the vast majority of Chinese people, Jiang Nanchun was a "sudden" rich man.For Focus, there are also numerous media reports, which made many people suddenly realize that Focus has existed around for a long time. Replacing dull print ads with vivid video ads, Jiang Nanchun has adopted a completely different approach to attract investors' attention, thus creating a whole new TV market outside the home during the daytime.Then, with the power of capital, he led Focus Media to expand into the online world and build a ubiquitous digital media network.However, what is also surprising is that Focus Media has only 4 years of history.

At the end of 2005, at a summit forum with Focus as the protagonist, Tian Tao, vice president of CCTV Market Research Co., Ltd. (CTR), pointed out: "In 2005, Hunan Radio and Television Media's turnover of 1 billion yuan came from 600 million yuan. Introduced and created "Super Girl" Hunan Satellite TV. In 2005, Focus Media has achieved a turnover of nearly 700 million." It can be seen that the achievements of Focus Media can already compete with the powerful traditional media Hunan Satellite TV . What made a company rise rapidly in such a short period of 3 years, and how did this young CEO quickly grow into a professional advertiser with a net worth of billions?

"I know at least half of the advertising dollars are wasted, but the problem is I don't know which half." John Wanamaker's famous quote has always been popular in the advertising industry.Today, however, it should be Chinese companies that have a deep understanding of this.As the advertising effect is getting worse and the advertising investment is getting bigger and bigger, many companies have fallen into the misunderstanding of advertising waste. Among the marketing costs, the investment in advertising media is undoubtedly the largest.Regardless of the hundreds of millions of dollars spent on advertising by major international brands, in China, from the "CCTV King" in the past few years, to the domestic brands competing to hire celebrity endorsements at sky-high prices in recent years, the cost is tens of millions to hundreds of millions. put in.Intensive advertising bombardment can indeed make the brand a household name, but for some products, the result of spending a lot of money may be the result of "cannon shooting flies".

The dilemma that many companies face in marketing is usually: it is not difficult to segment the target audience, but the difficulty is that when the company outlines the target audience, it finds that it cannot effectively distinguish and reach itself with an appropriate communication carrier. To target the target audience, advertisements must also pass through the most common and wide-ranging mass communication channels such as TV, print, and outdoor. It is precisely because of the above reasons that various forms of focus media and niche media have emerged in China in recent years, such as direct magazines, airline advertisements, and so on.

The audience of Jiangnanchun's China commercial building advertising network is almost all white-collar workers who often go in and out of high-end office buildings and other places.The target audience positioning is quite clear. For those fashionable and high-end products, this is the most direct advertising medium with the highest hit rate.In the survey conducted by the new-generation market monitoring organization on commercial building TV advertisements, it was found that the audiences of the commercial building advertising network are almost all between 25 and 45 years old, and they are highly educated, high-income business managers and fashionable white-collar workers. They are not only the most active creators of social wealth, but also the most important consumers of mid-to-high-end products, and they are the 20% most valued by advertisers of mid-to-high-end products.This group of people is getting farther and farther away from traditional media, and their trust and acceptance of traditional media are getting lower and lower, and they are becoming more and more elusive.Being able to find a sharp sword that hits this target directly is in the arms of these merchants.

Jiang Nanchun was optimistic about this.He plans to cover the middle and high-end people as fully as possible, and make the concept of focus to the extreme.His ideas and practices have repeatedly been supported by the capital market. In May 2003, Focus Media Holdings Co., Ltd. was formally established, with Jiang Nanchun as CEO. In June 2003, the internationally renowned investment institutions SoftBank and UCI announced that they would invest heavily in Focus Media to promote the construction and operation of Focus Media's Chinese commercial building network. In March 2004, Weizhong Investment, CDH International Investment and TDF Fund teamed up with well-known American investment institutions DFJ, WIEC and Maidun International Investment to inject tens of millions of dollars into Focus Media.

On November 16, 2004, Focus Media Holdings Co., Ltd., Weizhong Investment Corporation, Goldman Sachs and 3i held a press conference in the Great Hall of the People, announcing that UCI, Goldman Sachs and 3i jointly invested US$30 million in Focus Media. On July 13, 2005, Focus Media was successfully listed on NASDAQ in the United States with the stock code FCNN. At the time of listing, Nasdaq described Focus Media in this way: "the leader of China's outdoor video advertising market"; professionals predicted: "Focus Media's listing on Nasdaq marks the entry of the Chinese advertising industry into the Focus era. Media investment tends to be more professional and rational."

When reviewing the entrepreneurial development journey of Focus Media, Jiang Nanchun said with deep emotion: "The growth of Focus Media reflects the growth history of Chinese advertising companies in recent years." The eyes are always searching for the new after the change." The most profound truth is often the simplest, even the simplest.The concept and business positioning of Focus Media enterprises determine that they seek the "blind spots" of the market in the continuous innovation of innovation without breaking or establishing, and meet the needs of the market; while guiding the market direction, they maintain their lasting vitality.