The demographic dividend and platform traffic benefits have basically come to an end, and past traffic strategies are no longer effective. The next phase should focus on customer management, using content marketing to attract new user growth and improve the repurchase rate of existing customers. This may be the marketing strategy with the highest ROI in the next era. Merchants need a complete, executable, and supervisable AI solution, while platforms should seize new emerging core application scenarios and rethink new business models.