From QQ to WeChat and even Honor of Kings, Tencent has developed a number of national-level products.

This also makes the first deep impression that Tencent leaves on the public is that it is good at making products and can make them.

However, at some point, Tencent was labeled as “traffic + capital”.

This is actually a result-oriented description, a misreading caused by misplaced causality.

The reality is that Tencent first developed those outstanding and cross-generational products, and then gradually gained traffic and capital, rather than traffic and capital creating those irreplaceable products.

Clarifying this point is particularly important in the current environment where antitrust has become a key word.

Some fund managers bluntly said that antitrust has made social and content platforms more stable. In the future, platform competition will transform from traffic competition to content and technology competition; when the Internet’s share-based monopoly is suppressed, user stickiness based on high-quality content will

, is the new foundation for Internet investment.

Tencent's 2020 financial report is about to be released. It's time to re-examine Tencent's core capabilities. Can the product manager who was always successful now still be successful?

Ten-year-old WeChat continues to release "freshness". Behind Tencent's national-level products one after another, product strength is inseparable, which includes keen exploration of users' current and potential needs, continuous iterative and updated technical support, user experience and user data

Great reverence for safety, etc.

The first thing to bear the brunt is the continuous iteration of product strength, which includes both endogenous optimization and upgrading, and extensional development and expansion.

How to make a national product always ahead of the iteration of technology and user habits, and continue to lead?

In this regard, Tencent undoubtedly has enough say. The ten-year-old WeChat has undergone a series of new changes since 2020, which has once again excited the market.

Some researchers directly stated that the unexpected development of the video account contributed a large part of Tencent's last wave of market value increase and is the "heart of value" of Tencent.

Over the past year or so, the changes in WeChat have even been a bit overwhelming: PaiPai has tried new social methods, WeChat has been connected with corporate WeChat to serve online anti-epidemic needs, and WeChat Pay has quickly launched low-threshold, zero-cost small store tools.

... Immediately afterwards, Souyisou opened the service, video search, and the video account was updated four times throughout the year.

During the Spring Festival of 2021, WeChat red envelope covers quickly became popular, and it was difficult to find "one side" of the covers of some big brands and celebrities.

In Zhang Xiaolong’s words, WeChat will be involved in everyone’s daily life.

It should follow the trend of the times and even lead the trend of the times.

If it is not positioned as a way of life, but only as a communication tool, it will be too one-sided, or it will leave little room for imagination in the future.

Huachuang Securities made this analysis: After WeChat has crossed the core stages of instant chat, picture and text reading, picture and text social networking, financial payment, life/business services, short video/live broadcast and other core stages, the inclusiveness of the product has surpassed all vertical competitions.

Dao's independent App application has the continued vitality of maintaining the originality of ecological content and the importability of external content.

Among existing users, every micro-innovation and key feature launch of WeChat improves user experience and satisfies users’ desire for new features.

Traffic comes from good products, not products born from traffic; similarly, products that meet user needs have unlimited business potential.

Changes in WeChat have once again excited the capital market. CITIC Securities directly pointed out that "WeChat ecology will drive advertising, payment and other segmented businesses to continue to exceed expectations in the medium and long term, bringing new valuation increments." Behind the anti-risk "core assets"

"Product Power" Last year, the new coronavirus epidemic swept the world and the development of many companies was affected, but Tencent's financial report showed strong "immunity."

The market expects that Tencent will continue to maintain a revenue growth rate of about 25% in the fourth quarter of 2020.

In addition to WeChat, the To B product camp has shone brightly in the special environment of epidemic prevention and control in 2020, which has also fully proved the anti-risk ability of "digital productivity".

Products in the To B field such as Tencent Conference, Enterprise WeChat, and Tencent Documents are beginning to establish their own position.

On December 25, 2020, Tencent Conference announced data on the first anniversary of its establishment. More than 300 million conferences were held on Tencent Conference in the past year. Tencent Conference’s DAU exceeded 10 million within 2 months of its launch, and the number of users exceeded 245 days after its launch.

100 million, and expanded the capacity to 100,000 cloud hosts in 8 days, creating the history of cloud computing in China.

Enterprise WeChat has also developed rapidly after being connected with WeChat. In order to meet the internal and external communication needs of various enterprises, Enterprise WeChat has increased the maximum number of people in group chats to 500, and its user scale has grown rapidly.