I had the privilege to attend this event whom my boss specially registered for my self-learning. And what an eye-opener it was, I attended seminars that were presented by founders of various companies, and learning from their dedicated experiences.
Launched in 2017 that bring together the regional community of online & offline merchants, payment professionals, logistics experts across over 40 different countries. With 6,000 participants, 200 speakers, 200 sponsors and exhibitors, Seamless Asia 2018 set to reimagine the value that events can bring to regional commerce.
Having attended about 18 seminars in total across the 2 days, I hope to share some of the these valuable insights gained that are unknown to me previously, while also refreshing my memory. The sharing may be irrelevance or insignificant to some of you, do correct me if my information is wrong. Otherwise, enjoy reading!
#1: Own unique ecommerce site vs marketplaces
Venturing into marketplaces is cheaper in the short term and is definitely less hassle than investing in your own ecommerce site. However, due to inflation, costs of channel is increasing linearly over the years. On the other hand, once your brand is more localized and have its own loyalty base, you can set aside a smaller marketing budget on investing over time.
Having your own site also allows the brand to control the whole unique user experience, engaging and communicating with them through the journey from search to making a purchase. Big Data is also earned where brands can analyse their findings and improve on their flaws. None of this can be done through a marketplace, and as a brand, it does not make sense to spend on paid advertising for your products at marketplaces when there are plenty of your competitors’ products out there. Make good use of the budget and direct traffic to your site instead.
In summary, marketplaces are still important and should be part of your ecommerce strategy, but invest more on your site. Do also note to choose a few marketplaces selectively for you may lost control of your pricing. It won’t be good if your consumers bought it at $xx last week, but now cheaper at another marketplace.
#2: Search marketing
Search marketing is less significant over the years. An increasingly portion of users are no longer just using Google as their main search portal to find products or information they need but also other touch points like Amazon, Lazada or even Pinterest. Advertising in Amazon and Lazada is still cheap at this moment as it is not that popular yet. However, marketers should still focus on Google though not entirely.
#3: The importance of Mobile
By 2020, Facebook mentioned that mobile is estimated to make up 73% and 80% of retail ecommerce in South Korea and India respectively. Your platforms have to be mobile friendly and responsive to engage and make conversation with your audience. Live streaming / real life content sharing are becoming popular and available on mobile these days. There is a spike of 81% in live streaming consumption in 2016 and majority are Millennials. What prompted the change? Audience are now expecting more from brands, to be 24/7, authentic, up-to-date and being the first to experience. Hence, it will be beneficial for brands to figure out how to fit into this model, etc: live shopping videos and allow them to purchase on the spot, VR experiences.
#4: Influencers marketing
A lot of brands are requesting for the top-notch influencers but are they the right ambassadors for your brand? Do they resonate or have affinity with your brand? Audience are smart and savy nowadays, they can differentiate whether or not the content is authentic. Instead look for advocates that are loyal and can reflect the values of your brand. Cultivate this group of advocates and by allowing them to try other products, they might even able to identify other positive attributes to your brand.
In summary, I hope this is useful for some of you. Many thanks to the speakers at Seamless Asia 2018 for sharing your experiences and knowledge. 🙂