腾讯能为书业打开一条确定性增长路径吗？

Core Insights - The publishing industry is experiencing significant anxiety and differentiation as it faces a declining market size and a historical shift in channel structure, with content e-commerce growing by 30.43% year-on-year and capturing 40.53% of the overall market share, surpassing platform e-commerce for the first time [1][11] - The industry is at a crossroads where abandoning content e-commerce means forfeiting growth, while diving into it may lead to intense competition for traffic and profit pressure [11] - The third Tencent Advertising Education Book Ecosystem Conference aims to address the core question of what will drive the next round of growth in the publishing industry as traffic dividends diminish [11] Transition from "Selling Books" to "Selling Good Books" - The growth engine of the book industry has shifted, but many publishing institutions have not adapted their thinking and operational capabilities accordingly [11] - Tencent Advertising proposes a systematic solution encapsulated in the phrases "selling books well, good books sell, and selling good books," which signifies a strategic shift from "traffic competition" to "value management" [11] Key Strategies for Selling Books - The key to "selling books well" lies in selecting the right platforms and establishing differentiated advantages, with Tencent's "social + content" dual foundation providing unique value to the publishing industry [12] - High-value private domain soil within Tencent's ecosystem allows publishers to build trust and sustainable dialogue with readers, leading to higher repurchase rates and average transaction values compared to other platforms [13] Empowerment through Intelligent Tools - Tencent Advertising's book sector has seen a year-on-year growth of over 65%, with publisher spending increasing by 121%, driven by tools like small store advertising and intelligent investment that significantly lower operational thresholds [13] - For instance, a well-known children's book brand achieved monthly sales exceeding 5 million yuan through small store advertising, with a stable ROI of over 1.5 [13] Continuous Support for Quality Content - Tencent Advertising is committed to nurturing quality book content creators and plans to invest more resources by 2026 to foster a return to value competition in the industry [14] - The launch of the "Good Book New Voice Video Number Excellence Management Creation Camp" aims to provide comprehensive support for publishers to transition from "selling goods" to "long-term management" [14] Collaborative Ecosystem Development - In a stagnant market, the publishing industry must break down "capability silos" and build a collaborative ecosystem to address complex market challenges [15] - Tencent Advertising's "Book Trading Growth Middle Platform" aims to create an efficient collaborative network, allowing publishers to easily list distributable products and connect with suitable supply chains [15] Responding to Market Changes Collectively - The industry is witnessing a shift in consumer demand from "cost-effectiveness" to "emotional value," with emotional resonance and content connection becoming key purchasing factors [16] - The success of the bestseller "Onshore" illustrates the effectiveness of a multi-dimensional content strategy that resonates with readers' emotions [16] Focused Growth Strategies - Tencent Advertising suggests two pathways for publishers: enhancing customer lifetime value or improving content conversion efficiency, emphasizing meticulous cultivation rather than broad-based advertising [17] - The integration of public and private domain traffic within Tencent's ecosystem enhances flow efficiency, allowing for a more effective advertising strategy [17] Long-term Development Approach - The publishing industry is encouraged to adopt a phased strategy for advertising, focusing on high-potential placements in the short term and expanding into deeper user ecosystems over time [18] - This strategic thinking reflects a maturation of operational concepts in the publishing industry, shifting from short-term hits to building sustainable user assets and brand value [18]