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Challenging marketplace players & creating a winning eCommerce strategy
- 1. opening Challenging Marketplace Players & Creating a Winning eCommerce Strategy Event | 1PM GMT +7 | April 22 2021 | HCMC 1PM, APRIL 22ND, 2021 Gem Center, 8 Nguyen Binh Khiem, District 1, HCMC
- 2. Today’s Agenda Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 The new normal & your business’ next big decision Insights into Digital Marketing Digital Commerce & Cloud Technology Stack ACFC Case study
- 3. Speaker & Agenda Intro
- 4. Main Keynote
- 5. The new normal & your business’s next big decision
- 6. Ecommerce Trends post COVID - Diagram of Covid-19 impact - Market sales total - Ecommerce growth by category - Some categories will be moving online for good. Why? - Convenience beats price - Risk of a pandemic blowback - Intensifying online competition - Logistics, payment processing and technology advancement Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 7. Digital transformation is now - What enterprises are focusing in terms of digital transformation - Explore digital business models (On-premise or marketplace? build or buy?) - Invest in digital marketing, sometimes overinvest - Make changes in customer experience (personalization, promotion, digital marketing campaigns, ...) - Fulfilment/supply chain is being upgraded - Strengthen technological platforms - Integrate e-commerce into executive agenda for more attention & priority
- 8. Should you be relying on Marketplace? - Marketplace is a fast, convenient way of getting started, but the downside? - Relying too much on Marketplace policy - Brand building is limited - Your digital marketing campaigns will be poured into the marketplace - Your data is on the Marketplace side
- 9. What business should be going online via Marketplace? - SOHO/Small business, getting started with online business - Super brands who takes online business purely as another sales channel - Businesses who solely focus on revenue without branding/data/customer experience focus
- 10. What Ecommerce should really represent - More than a sales channel - A branding front-end - A customer support portal - A data gold mine - A supporting tool for your traditional businesses
- 11. Moving your online business in the right direction
- 13. Get Insights & Best Practices Into Digital Marketing Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 14. Exponential growth of digital consumers (who will stay) Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 VIETNAM New consumers to internet economy services % of new consumers who will continue to use at least one digital service post-COVID- 19 % of new consumers who will continue to use at least one digital service post-COVID- 19
- 15. Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 VIETNAM Internet e-Conomy reaches US $14B
- 16. Vietnam All sectors except Travel continue to grow Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 17. Vietnam Digital Marketing in eCommerce industry Main Takeaways: 1. Flight to digital: Quick adoption, lasting growth 1. Online with a purpose: The helpful role of Technology 1. Resilience in times of crisis: Growth prospects are stronger than ever 1. Cautiously optimistic: Investors remain confident
- 18. Explore Digital Marketing strategy 6 ways eCommerce business can compete with marketplace 1. Target niche markets: Become an expert in your product area and illustrate your authority through branding 1. Leverage your brands: SEO strategy with consistent, high-quality content marketing can highlighting your brand’s deep expertise 1. Prioritize user experience: Offer shoppers an exceptional user experience with UX/UI design 1. Optimize pricing plan: Not compete at all on pricing plan with lowest price. Offer exclusive, limited-quantity products or special products that only can found in your eCommerce web. 1. Offer customer loyalty program: According to Business Insider, 48% of eCommerce sales come from repeat customers who are twice as likely to make a purchase than first time buyers 1. Boost sales with Pay-per-click advertising: Google Shopping ads Facebook ads
- 19. Explore Digital Marketing strategy Mega Digital’s Services
- 20. “ This new digital acceleration is sticky: 94% of new digital service consumers intend to continue with the service post-pandemic. ” Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 21. Prepare & Planning Business needs Branding strategy & competitive standpoint Revenue/ROI Customer data & Insight Market overview & Opportunities Business conditions Fulfilment/Faci lity Vendor/Suppli er Human Resources Budget Suitable business model Technology & Integration
- 22. Key Metrics - Discovery Metrics - Impressions - Website Reach/Traffic - Promotion Email Click-through - Social Media Engagement - Consideration Metrics - Cost Per Acquisition - Cart Abandonment - Conversion Metrics - Checkout Abandonment - AOV - Sales conversion rate - Support/Retention Metrics - Customer Retention Rate - Customer Lifetime Value - Repeat Order Rate - Refund & Return Rate
- 24. <> Vẽ lại như slide số 6 https://drive.google.com/file/d/1TXwJRS7hF5rryQdD3yN_HIFZdbr- EDvw/view?usp=sharing
- 25. What your customers expect of consumers say they shop both online and in store.5 PIM can bring a 400% Increase in conversions 6 Revenue per email increases 140% compared to static batch emails that are generic and only minimally personalized.7 With 1:1 customer loyalty p buy more. On average, ann spending increases by ~26% value by 15%.9 26% Annual customer spending A of shoppers who chose a flexible payment option at checkout would not otherwise have 44
- 26. Setting up your online business https://docs.google.com/spreadsheets/d/1vizZsWXIRjTNG ewdhS6FKFVAaNBtmXdrEHLkj2YSvyI/edit?usp=sharing
- 27. Ecommerce technology selection Technology Model - SaaS, PaaS or On Premise Business Model - B2B, B2C, Marketplace, B2B2C, … Requirements: - Easy to be customized and deployed - Easy to learn and control - Available community and supplier - Future-proof
- 28. What a true Ecommerce platform should do Customer Touchpoint Core Commerce Operation Website Content (landing pages, blogs, ...) Product info & Pricing Promotions Accounts Management Recommendations Loyalty Searching Catalog Management Inventory Management Shipping Methods Payment & E- wallet Transactional Messaging Cart & Checkout Customer Management B2B Functionality Multiple Websites Multiple Languages & Currencies Reporting Order Management Newsletters Merchandising Tools Mobile Responsive Order Fulfilment Returns Management
- 29. Integration is the key Social Channels Customer Website Sales Order Customer Data Order History Customer Touchpoints Mobile App Chatbot Marketplaces Call center Warehouse Management System ERP CRM Marketing/Retarg eting platforms Payment processor Logistics processors POS/Back-office softwares Social Shop platforms
- 30. Ecommerce Director Customer Service & Operation Content & Digital Marketing IT System Operators Project Manager Technical Architect Business Analyst Developer Corporate Platform Manager (ERP, CRM, ...) QA/QC Specialist Content Manager SEO/SEM Digital Ad Social/Email Marketing Exec Pre-sale Operator Order Fulfilment Operator Customer Service Operator Catalog Information Promotion Resources & Operational Team Your business Your Ecommerce partner Web Server/Infra Admin UI/UX Designer
- 31. <AWS>
- 32. A CASE STUDY ON DIGITAL SUCCESS Magento Commerce For A Renowned Vietnamese Enterprise Presenter: Mr. Dinh Cong Chinh CIO/Vice President @ ACFC
- 33. Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 34. Challenges Lack of both Technology capabilities and Online business expertise. Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 Start as a traditional Bricks-n-Mortals store, not a Tech-driven business yet. Despite of our expertise in Retail, we are new to online business.
- 35. Transform the Business Model for the New Normal Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 Xn ... Traditional Bricks-n-Mortals Stores Q: How to scale and keep growth rate? Q: If cannot scale how to keep growth rate? Online-Offline, Closer to the customers Q: Operational model ? Q: Stock Inventory model ? Xn ... Xn ... Central Distribution Online-Offline, Faster & Efficiency Q: Effective scaling? Q: Co-hunting strategy?
- 36. Branding Strategy Unifying brands under one eCommerce system Roll out multiple websites as brands request Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 37. Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 Diverse content & offers New offers and promotional programs are rolled out with ease using built-in pricing rule system Each brand has its own content & design language to match brand authority
- 38. Operational workflows are customized in accordance with business available technical ecosystem and processes Ecommerce business processes are autonomous to cutdown on operational resources Adaptability with business nature Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021
- 39. Business-oriented reports & BI Advanced O2O Strategy Magenest x Magento x AWS www.magenest.com Challenging Marketplace Players & Creating a Winning eCommerce Strategy April 22nd, 2021 With the help of Adobe and Magenest, advanced reports and Business Intelligence will be rolled out to help Executive Levels in the business decision making process. Online-Offline customer loyalty, improved customer service schemes, … are critical as customers are looking for a more complete experience. As a renowned retailer in Vietnam, ACFC is striving to step up a notch to provide customers with the best experience possible, both online and offline. Future Improvements Advanced features Customers are constantly looking for more than a website to order merchandises. New features that make it possible to interact better with brands, increase loyalty, improve processes are constantly being thought out and implemented. 01 02 03
- 40. Magento Commerce
- 41. Used by leading industry and global enterprises Companies with more than $1B each in total annual revenues Internet Retailer Top 1000’s most used platforms 2019 Internet Retailer Top 1000 Gartner Magic Quadrant™ Digital Commerce LEADER Forrester Wave™ B2B for Midsize Companies LEADER Forrester Wave™ B2C Commerce Suites TOP PERFORMER
- 42. Adobe Magento supports multiple business operation and commerce models B2C & Internet of Things D2C & Channel Integration B2B Global Rollout Customizable Product Business Model Reinvention B2B & B2C Deployed industries and business models B2B & B2C
- 44. Q&A
Editor's Notes
- Main Takeaways: Flight to digital Internet usage in Southeast Asia (SEA) continues to grow, with 40M new users this year alone (400M YTD vs 360M in 2019). In Vietnam, with its various stages of lockdowns, users turned to the Internet for solutions to their sudden challenges. A significant number tried new digital services: 41% of all digital service consumers were new (higher than the SEA average), with 94% of these new consumers intending to continue their behavior post-pandemic. Online with a purpose Southeast Asians spent on average an hour more per day on the Internet during lockdowns, and it’s easy to see why. The Vietnamese, specifically, were spending 3.1 hours online (for personal use) pre-COVID-19, which spiked to 4.2 hours at the height of national social distancing, and now rests at 3.5 hours per day. With 8 out of 10 users viewing technology as very helpful during the pandemic, it has become an indispensable part of people’s daily lives. Resilience in times of crisis e-Commerce has driven significant growth in Vietnam, at 46%, alongside strong growth across most sectors except for Travel. Overall, 2020 GMV is expected to reach a total value of US $14B in 2020, having grown at 16% YoY. Looking at 2025, the overall e-Conomy will likely reach US $52B in value, re-accelerating to ~29% CAGR. Cautiously optimistic Deal activity across the region continued to grow unabated in the first half 2020. Investors are remaining cautiously optimistic and are doing fewer deals at more attractive valuations, in hope for higher returns in the long run. Where the goal of years prior has been “blitzscaling”, investors are now looking for sustainable, profitable growth.
- Magento is the leader in commerce, over $155B of GMV+ in 2018 globally…that’s $424M a day of commerce transactions. Magento also has the top solution for commerce based in installs when you look at the Internet Retailer here in the United States, Magento leads. Another great element where Magento leads is the community…which will be a huge help to customers who do not want black box or expensive/scare specialty developers. Magento extensions allow you to get started, and get started quickly. Pointers: Hit on customers that are similar to your customer that are in the list on the slide. Check the CRO for references if you find one. Also be sure to talk about the competitive platforms, hit on the one you are competing against, read the information on Highspot. Last really nail on the b2c/b2b elements, not many platforms can do this, hit on the ability to do both and mixed.
- The openness, agility and innovation of Magento enables the broadest set of use cases in digital commerce. And most importantly, it enables leaders in digital transformation to innovate in all of these areas from a single platform for faster time to value, lower total cost and a more coherent customer brand experience than any competitor out there. Pointers- If your customer falls into one area, hit on that but be sure to hit on the areas they are expanding toward. For example, being able to do subscriptions, or expanding to new geos or digital/physical needs…hit on the areas they are looking to go toward.
- The openness, agility and innovation of Magento enables the broadest set of use cases in digital commerce. And most importantly, it enables leaders in digital transformation to innovate in all of these areas from a single platform for faster time to value, lower total cost and a more coherent customer brand experience than any competitor out there. Pointers- If your customer falls into one area, hit on that but be sure to hit on the areas they are expanding toward. For example, being able to do subscriptions, or expanding to new geos or digital/physical needs…hit on the areas they are looking to go toward.