2 finance industry omega-coc coc - finalversion
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2 finance industry omega-coc coc - finalversion
- 1. UNDERSTANDING CUSTOMER BEHAVIOR IN FINANCE INDUSTRY
- 2. Insert a shape and your portrait follow this frame Phuong, Dao Thu Chief Operating Officer E M phuongdt@coccoc.com 0912 67 1917
- 3. 1. Overview Internet Market in Vietnam 2. Digital Disruption trends in Banking Industry 3. Customer Behaviour on Cốc Cốc 4. About Cốc Cốc Agenda
- 4. 1. Overview Internet Market in Vietnam
- 5. SOURCES: POPULATION: UNITED NATIONS; U.S. CENSUS BUREAU; INTERNET: INTERNETWORLDSTATS; ITU; EUROSTAT; INTERNETLIVESTATS; CIA WORLD FACTBOOK; MIDEASTMEDIA.ORG; FACEBOOK; GOVERNMENT OFFICIALS; REGULATORY AUTHORITIES; REPUTATBLE MEDIA; SOCIAL MEDIA AND MOBILE SOCIAL MEDIA: FACEBOOK; TENCENT; VKONTAKTE; KAKAO; NAVER; DINGS; TECHRASA; SIMILARWEB; KEPIOS ANALYSIS; MOBILE: GSMA INTELLIGENCE; GOOGLE; ERICSSON; KEPIOS ANALYSIS. NOTE: PENETRATION FIGURES ARE FOR TOTAL POPULATION (ALL AGES) Total Population Internet Users Active Social Media Users Unique Mobile Users Active Mobile Social Users 96.02 Millions 64.00 Millions 55.00 Millions 70.03 Millions 50.00 Millions Urbanisation Penetration Penetration Penetration Penetration 35% 67% 57% 73% 52% Digital in Vietnam A snapshot of the country’s key digital statistical indicators (Jan 2018)
- 6. Laptops & Desktops Mobile Phones Tablet Devices Other Devices 73% 24% 3% (N/A) Year-on-Year change Year-on-Year change Year-on-Year change Year-on-Year change +23% -31% -53% N/A SOURCES: STATCOUNTER, JANUARY 2018, AND STATCOUNTER, JANUARY 2017 Based on each device’s share of Web Pages served the Web Browsers Share of Web Trafc by device
- 7. Online via Desktop/Laptop Tablet Smartphones 142 mins 50 mins 96 mins Listening to radio Watching TV Reading magazines, newspaper 16 mins 61 mins 62 mins Source: Inmobi Desktop has the highest media spent time
- 8. What people buy online Total annual amount spent on consumer E-commerce categories, in United States Dollars SOURCES: POPULATION: STATISTA DIGITAL MARKET OUTLOOK, E-COMMERCE I NDUSTRY, E-TRAVEL INDUSTRY, AND DIGITAL MEDIA INDUSTRY, ALL ACCESSED JANUARY 2018 NOTE: FIGURES ARE BASED ON ESTIMATES OF FULL-YEAR CONSUMER SPEND IN 2017; AND DO NOT INCLUDE 82B SPEND Fashion & Beauty Electronics & Physical Media Food & Personal Care Furniture & Appliances $358.3 Million $840.7 Million $232.7 Million $367.9 Million Toys, DIY & Hobbies Travel (Including Accommodation) Digital Music Video Games $386.3 Million $541.1 Million $9.3 Million $186.1 Million
- 9. 2. Digital Disruption trends in Banking Industry
- 10. Many banks lag in digital basics – especially mobile Consumers prefer digital channels for routine banking transactions, but many banks are falling short Only 45% of online customers and 25% of mobile customers in the UK said their bank’s website lets them do everything they need Only 44% of online customers and 34% of mobile customers in the UK said their bank’s website is easy to use
- 11. Who are the competitors of Banks today?
- 12. New comers in the Bank Industry E-com companies Alibaba started online Mybank which approves loans instantly based on financial history with Alibaba Retailers Nearly 1/3 of domestic Starbucks revenue are paid through it’s own loyalty cards. Tech giants Google recently introduced a plastic debit card for it’s Google Wallet.
- 13. More consumers trust big tech firms with their money Note: Ranking on a scale of 1 to 9, with 1 indicating highest trust Source: Bain/Research Now Customer Loyalty in Retail Banking Survey, 2017 By age, Americans willing to buy financial products from tech companies “Which company would you trust most with your money?” 73% Average ranking by US consumers 1.7 3.3 4.0 4.3 5.1 5.4 5.5 7.4 8.3 Primary Bank Bank in General PayPal Amazon Apple Google Microsoft Facebook Snap Inc. 18 - 34 MORE TRUST LESS TRUST 42% 55+ 61% 35 - 54
- 14. How Banks can respond to these threads? Being simply more digital is not enough Combine their vast transaction data with new digital tools/channels to help customers to make decisions Understand customer’s behavior online
- 15. Banks have to know better their online customers’ Source: FIS, July 2018 - The Financial Brand Baby Boomers (53 - 71) Senior Millenials (27 - 37) Gen Xers (38 - 52) Young Millenials (18 - 26) 35% 34% 9%57% 63% 49% 34% 41% 10% 54% 12% Consumers’ digital interactions with their banking provider (by segment)
- 16. Banks should consider more and more targeted marketing and sales pitches Source: Bain/Research Now Customer Loyalty in Retail Banking Survey, 2017 The lesson: Ask for the sale In Australia, more than one-third of defectors said they bought from a competitor bank because they received an offer or saw an advertisement. Only one-quarter were actively researching when they decided to buy the product. Half would have purchased from their primary bank if the bank had made an offer. $
- 17. 3. Customer Behaviour on Cốc Cốc
- 18. Cốc Cốc Userbase 2018 55+ YEARS OLD N = 414K 45 - 54 YEARS OLD N = 354K 35 - 44 YEARS OLD N = 1.6M 25 - 34 YEARS OLD N = 2.7M 18 - 24 YEARS OLD N = 2.7M TOTAL N = 10.8M Source: ComScore 09/2018 Total Internet User based on ComScore: 14.3M Total User of Cốc Cốc based on ComScore: 10.8M
- 19. What are Cốc Cốc users interested in? 3,232,631 5,074,162 4,059,329 3,450,430 2,029,665 1,608,899 1,420,765 1,217,799 405,993
- 20. Search traffic about Bank Product Average Share of Product (12/2017-04/2018) Before and After Tet Holiday
- 22. Change in traffic URLs Before and After Tet 10.29% 11.54% 12.01% 48.58% 58.96% -12.97%
- 23. Customer Journey Before Tet 2018 846,055 960,859 844,069 654,730 104,051 102,132 145,906 104,376 257,655 140,067153,503 574,313 595,987 446,244 373,330 1,511,832 1,184,556 571,847 754,073 343,793 810,983 728,316 699,542 644,209 1,206,895 991,850 1,375,005 1,059,378 Average Daily Traffic (60 days before Tet)
- 24. Customer Journey During Tet 2018 426,630 297,877 295,536 161,561 393,101 436941 361,382 180,852 519,358 440505 428,756 240,125 526,612 420460 422,895 241,519 675,345 403220 462,730 279,115 62,714 44,181 43,025 Average Daily Traffic (duringTet)
- 25. Customer Journey After Tet 2018 499,356 585,646 476,796 337,625 480,061 176,998 159,917 218,796 111,968 710,369 607,746 1,437,288 1,228,163 1,239,102 1,278,115 769,964 754,790 381,545 999,726 929,147 764,190 605,942 984,135 747,193 953,916 626,456 160,602 108,321 Average Daily Traffic (60 days after Tet)
- 26. Top brand name base on market vs. on Cốc Cốc Source: Vietnam Report, 6/2018 Search queries from Dec 2017 to Apr 2018
- 27. 4. About Cốc Cốc
- 28. Web browser Search About Cốc Cốc
- 29. Special Target Options Age Gender Interest Geo Keyword Retargeting Daytime Frequency cap
- 30. Cốc Cốc’s Ad Format Custom Skin CTR: 0.8% - 1.5% VTR: 20% for Video 30s VTR: 30% for Video 15s Targeting option: Age Geo Gender Interest Frequency Capping Time slot
- 31. Cốc Cốc’s Ad Format Browser Skin CTR: 1% - 1.5% Targeting option: Age Geo Gender Interest Frequency Capping Time slot
- 32. Cốc Cốc’s Ad Format Banner Newtab Age Geo Gender Interest Frequency Capping Time slot CTR: 0.3% - 0.7% Targeting option:
- 33. Cốc Cốc’s Ad Format KeywordsGeo Time slot Search Ads CTR: ~3% - 7% Targeting option:
- 34. Brand Safety Do you want your ads show up like this?
- 35. Viewability The report from Google shows Source: Thinkwithgoogle.com
- 36. Brand Safety BRAND SAFETY 99.8% VIEWABLITY 86% No bad content which harms your brand First Screen Ad Ad in the center
- 37. We work with all major measurement companies
- 38. We do Brand lift study to our Clients Ad Recall What frequency maximizes ad recall In my brand message? Brand Awareness Which demo is driving the highest lift in brand awareness? Message Association To which ages groups my ad’s strategic message being more conveyed and received? Brand Favorability Was a short or lengthy brand creative able to move people to consider my brand? Purchase Intent In which geography area consumers is more inspired to buy my product in the future? Brand Preference Which demo is driving people more interested in my brand?