As stated by the CEO of DMA Tom Benton, today’s economy changing pace are incredibly fast, giving C-Level Executives an inevitable situation to rely on big data on their business decisions. A good DMP method such as data analysis pledge an important role in this case. How?
With applying tools e.g A/B testing from data source, it could analyze and conclude customer’s behaviour and preference, these patterns could later apply on each marketing strategy based on their target audience e.g enhancing their campaigns through SMM (Social Media Marketing) or omnichannels. These actionable neutral insights later contribute to marketing trends that Executive apply, where in this case Tiki.vn implement and resulted with skyrocketing growth.
Ranked top 5 e-commerce websites in Southeast Asia region and ranked 2nd in Vietnam region despite of e-commerce giant Lazada being 3rd rank (iPrice insights, 2019), its thrilling how a Vietnamese established e-commerce site could achieve. Best practices pathed on its stirring success today could be contributed by :
1. Ephemeral Content
With taking advantages from social anxiety FOMO, ephemeral content had slowly taking over traditional bricks and mortar flash sales. Tiki.vn gained 2.8M followers on FB, 125K on IG and 366,737 subscribers on Youtube. Tiki.vn had spent sterling efforts by continuously updating sales promotion through it’s Stories platform across SMM channels. These 24hours-only promotions stimulate impulsive purchase from its audience effectively. Nonetheless, it provides more advertising variety e.g content motions, live mode and etc, not to mention an extra advertising position in SMM channels where it is usually on top rows of the site.
2. Valuable Content Approach
As convinced from measurable bounce rate from data, instead of full blasting through hard sell with forced advertisement that incur viewers hatred, tiki.vn had chosen to advertise through story-telling approach on music video (MV). Tiki.vn does not have massive volume of subscribers on its YouTube channel, however, combine through MV appearance it logically gained IM (Influencer Marketing) effect and advertised through a comfortable condition, sharing the ride of accumulated million views from their fans.
3. Vertical Video
As reported in PwC Consumer Insights Survey 2019, modern age generation preferred to shop via mobile phones over PC, not to mention 84% of Vietnam population had access to smartphones. Hence, to tailored a customer-centered content deem necessary, in this case tiki.vn did spendidly to engage followers with entertainment videos through Youtube, IGTV and Live videos on its SMM mobile platform. These entertainment video series with public interest (e.g comedy) while featuring its product and branding contents, generated viewers willingness to watch on a timely basis. No doubts tiki.vn could accumulate monthly engagement rate of 36.97M over Lazada with only 28.46M according to SimilarWeb. These videos also contain CTA (Click-Through-Action) for its advertised product to increase sales conversion rate.
4. Effective CRM (Customer Relationship Management)
Tiki.vn had a substantial customer service team responding across its SMM platforms including an option of Direct Message on FB and free toll hotline. Being a virtual store, its SMM platforms dominate its touchpoint with its customer, and hence became an important tool to maintain its brand image. Not to mention public sensitivity on open discussion areas such as FB post. Tiki.vn customer service team had been responsive and mastered the prime hours daily with an average of 4 posts daily, this could be the contributing reason to a social traffic of 86.11% as compared to Lazada at only 56.54%. Tiki.vn also participated in Zalo (most popular Vietnamese app) to garnered user’s attention more effectively for easier promotion access.
How to do better than a cold mail or call seeking your leads’ attention? Clear answer is to have their intention coming from themselves. Gamification does the best trick in this case to foster target audiences’ wants. Tiki.vn did favourably in having slot machine game on their app, it allows user to return daily and spin to win more coins or other rewards. Gamification hence created a loop of reminder subconsciously in the user’s mind to recall the existence of the brand and service.
Source : The Map of E-Commerce in Vietnam, Q2 2019. iPrice insights..
iPrice Group,. 2018. The Map of E-commerce in Vietnam. iPrice insights. iPrice Group.
Knowledge Wharton. 2014. Gamification: Powering Up Or Game Over? Entrepreneurs. Forbes.
PWC,. 2019. Global Consumer Insights Survey 2019. It’s time for a consumer-centered metric : introducing “return on experience”. PWC Survey Report 2019.
VietNam News,. 2019. Three Vietnamese companies among ten most visited e-commerce sites in Southeast Asia. VietNam News : Economy. VietNam News.
VietNam News,. 2017. Smartphone users cover 84% of VN population. VietNam News : Economy. VietNam News.
VNS,. 2017. Social networks most popular for mobile internet users. Science & IT. VIETNAMNET Bridge.
Whitler, Kimberly A. 2018. How Data Is Changing The Role Of Marketers. Leadership. Forbes.
Tiki, 2019. Tiki Facebook Page.
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