7-day no-reason refund Zhihu seeks change: Reshuffle and commission

　　As one of Zhihu’s most important paid products, Zhihu has once again upgraded it in an all-round anniversary, launched the “7-day no-reason refund” function, and upgraded the evaluation system, provided traffic subsidies and more efficient copyright services. According to a series of measures, Zhihu tries to standardize the form of knowledge paid services to achieve the previously proposed goal of "building a knowledge market".

　　"As a platform, our most important thinking is how to build a solid and long-term vitality mechanism in the early stages of industry development, so that knowledge payment can go further in the future." Li Shenshen, co-founder and CTO of Zhihu, told media including First Financial Daily. In its view, for users, the most core factor is content quality. Only by establishing a system to allow high-quality content to obtain more circulation opportunities and achieve a survival of the fittest can the sustainable development of the entire market be guaranteed.

　　According to Li Shenshen, as of now, with the support of Zhihu's monthly PV of more than 10 billion and nearly 300 million monthly active users, Live has held more than 2,900 sessions, the average hourly salary of speakers has exceeded 11,000 yuan, more than 2.69 million people have participated in Live, and the user repurchase rate has reached 43%.

　　Survival of the fittest is decided by the market

　　In this upgrade, "7-day no-reason refund" has become the hot topic that the outside world is most concerned about. That is, if the user purchases Live and within 7 days after the end of the live end, if the user does not have more than 15 voices to listen to, he can choose to refund the money without reason, and the voices before the opening will not be included in the 15 voices.

　　Regarding why there are 15 items, Li Shenshen responded that according to the data survey, the average number of voices in Live is 76, so 15 items are the number that seems to be more convenient for users to evaluate. The refund setting shows on the one hand that "Live does not charge IQ tax, eliminates content with poor quality, and on the other hand, it also lowers everyone's psychological threshold for payment," Li Shenshen explained. In order to avoid malicious refunds, Zhihu has also designed corresponding anti-cheating supporting work for these policies to record and identify malicious refunds and users.

　　In order to facilitate consumer decision-making, Zhihu has upgraded the evaluation system based on comments, refines the score to one decimal point, and displays the evaluation details, including the evaluation of anonymous users, to extend the discussion in Live and help users become an important reference for purchasing this live.

　　"Just in online malls like Taobao, users and merchants can provide feedback in both directions. Not only merchants have ratings, but users also have their own credit ratings. In the future, we will also consider introducing some mechanisms to encourage users to provide feedback seriously." Li Shenshen added.

　　Correspondingly, Zhihu also needs to provide more support for speakers and knowledge content with higher ratings, such as traffic subsidies, "editor recommendations", etc. In Live's high-quality content recognition mechanism, in addition to referring to participant ratings, it also includes dimensions such as the degree of contribution of the speaker to the community, the number of times the live was started, the quality of the live content, and the weight of the user in the professional field of the community.

　　From 1 to 100

　　The "7-day no-reason refund" on the e-commerce platform has become well known to the majority of users. From March 15, 2014, the new Consumer Rights Protection Law has given online shopping consumers the right to "7-day no-reason return and exchange", but most of them are directed to physical products, which is still rare in virtual products and even other paid products for content.

　　It is not easy for Zhihu to take this step. On the one hand, Zhihu needs to attract more new users to join. In early April this year, Zhihu has posted a large number of advertisements on subways, waiting halls, buses, building TVs and even circles of friends, and has made many adjustments in system openness and registration convenience, with the purpose of conducting more popular communication.

　　On the other hand, with more and more users coming in, Zhihu needs to think about how not to affect the community atmosphere and create a fairer platform participation mechanism. On the Zhihu platform, "If this can also be used, then I can open at least ten." In one article, many netizens have begun to reflect the uneven and muddy content in Live, and some users who rely on collecting IQ tax and making hot money are active.

　　"Like other platform-type products, Zhihu Live is experiencing a process of driving out good coins in the process of expanding users on both ends of the platform. Many Live users label the quality of the entire Live platform as "collecting IQ tax", just like fakes on Taobao." He Jiawen, the speaker who once held 7 Live events and participated in 40 Live events on Zhihu Live, said. In his opinion, the launch of the refund function is more like a "laxative". On the one hand, it is a reshuffle of the Live speaker, and at the same time it can also enhance the audience's enthusiasm for purchasing.

　　High quality and scale are issues that need to be solved simultaneously and balanced in front of Zhihu. Apple's AppStore and Valve's Steam have refund mechanisms. At the beginning of its launch, some people questioned whether the profits of the seller or service providers would be affected. Facts have proved that such policies not only protect the rights and interests of users, but also promote the high-quality and large-scale development of the market.

　　"The knowledge market and the entire Zhihu community are a symbiotic relationship. In the entire Zhihu platform ecosystem, the sustainable development of the knowledge market is promoted and the positive cycle of high-quality content is formed. The high-quality content and discussions created can feed back to the community." Li Shenshen emphasized again.

　　From another perspective, Zhihu has begun to try to take commissions for Live. According to the "Live Speaker Agreement", after deducting the discount amount of gift voucher and the handling fees related to third-party payment platforms, Live Zhihu will charge a 30% platform service fee for each session.

　　"The significance of commission is that the platform itself needs to provide better services to both buyers and sellers. Now all measures are to increase protection for buyers, eliminate concerns about IQ tax, stimulate demand, use a larger base to drive supply, and make the cake bigger and share the cake with a meaningful one." Zhihu speaker Cai Qiannian said.

　　"This is a relationship between a left hook and a right hook. The basis is how much money your traffic earns. What should be yours is yours. Although the knowledge payment is popular outside the world, I don't think it will eventually reach a certain level. If it can be done, it will be a huge possibility of growth for us." Zhou Yuan, founder and CEO of Zhihu, said in a previous interview.

　　The economic "economy of scope" and "economy of connection" are brought by the market mechanism, which is the imagination space brought to Zhihu by the knowledge market. For Zhihu today, Zhou Yuan believes that "advertising is still the basis of commercialization, and the knowledge market is the 'superstructure'."

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