Growth Strategy
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An excerpt of the growth strategy pitch to an international travel meta-search engine
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Growth Strategy
- 1. A Growth Strategy to an int’l Travel Meta Search Engine (excerpt) Nov 2015 Frankie Chan frankie.wailun@gmail.comc
- 2. Content • Background • Idea • Execu2on • Success metrics • Q&A
- 3. Background • ?? M unique users each month globally • Growing trac2on in Asia – 20% of users in Asia in 2014 vs. 6% in 2012 • Minimal awareness in Hong Kong and Taiwan – Each comprises only 0.1% of total Facebook page followers (5,530 and 7,033 respec2vely) • Aiming to expand in its unexploited Hong Kong and Taiwan markets
- 4. Mission Create a self-‐sustainable social campaign that grows the brand’s user base in Hong Kong and Taiwan and increases usage in the markets
- 5. Target audience • Young adult • Travel lovers – making the most out of a 2ght budget
- 6. Channels 74% of Taiwan popula2on on LINE h]ps://www.techinasia.com/line-‐releases-‐regional-‐breakdowns-‐for-‐its-‐490m-‐registered-‐users/ 41% of users aged 16-‐24 h]p://expandedramblings.com/index.php/important-‐instagram-‐stats/ 71% of HK mobile internet users ac2ve on WhatsApp h]p://www.sta2sta.com/sta2s2cs/291540/mobile-‐internet-‐user-‐whatsapp/ 91% of HK social media users on Facebook h]p://cw.com.hk/news/hk-‐web-‐users-‐spend-‐more-‐2me-‐facebook-‐tv/ Top 4 network in Hong Kong h]p://www.go-‐globe.hk/blog/social-‐media-‐hong-‐kong/
- 7. Solu2on REFERRAL PROGRAMME #memberGetMember #2SidedIncen1ve #ViralLoop
- 8. Why referral programme? • Zero adver2sing budget • 2.8 million direct referrals sent in one month • User base expanded 40x in 15 months (from 100K to 4M) • Similar situa2on: – Growing a user base from barely scratch (in HK and Taiwan) – Keen compe22on (Adword gets expensive – tradi2onal marke2ng not a good resort) Ref: h]p://www.slideshare.net/gueste94e4c/dropbox-‐startup-‐lessons-‐learned-‐3836587?ref=h]p://www.referralcandy.com/blog/referrals-‐built-‐dropbox-‐empire/ h]p://www.referralcandy.com/blog/referrals-‐built-‐dropbox-‐empire/
- 10. Principle mechanic referral code
- 11. Principle mechanic referral code
- 12. Principle mechanic Incen2vise usage referral code
- 13. Principle mechanic Incen2vise referral referral code
- 14. Principle mechanic Incen2vise referral code use referral code
- 15. Principle mechanic referral code
- 16. Principle mechanic referral code
- 17. registra2on page social share Viral loop
- 18. registra2on page social share search page Viral loop
- 19. Viral loop registra2on page social share account page search page
- 20. Viral loop registra2on page social share account page search page
- 21. Viral loop registra2on page social share account page search page influencers Branded social content
- 22. Touch point NOT AVAILABLE IN EXCERPT
- 23. Touch point NOT AVAILABLE IN EXCERPT
- 24. Touch point NOT AVAILABLE IN EXCERPT
- 25. Rewards User Type Reward Defini1on Non-‐referred HKD 400 / NTD 1600 Any new signup with no referral code Referrer HKD 100 / NTD 400 Any exis2ng user whose referral code successfully generates a new signup Referee HKD 500 / NTD 2000 Any new signup with a referral code
- 26. Campaign period May – September 2016 Phase 1 (acquisi1on) October – December 2016 Phase 2 (credit burning) Referral code valid referral code no longer valid Credit valid for redeeming (no expiry)
- 27. Stakeholders Area Descrip1on Stakeholders Campaign design • Campaign design • Channel Strategy • UX flow • Social Media Manager • Product manager Marke2ng & adver2sing • Social strategy - Content strategy - Influencer engagement • Social Media Manager • Crea2ve Director Technical implementa2on • Programme’s technical infrastructure (i.e., implemen2ng referral code & account bal. features in CRM system) • Social plugin implementa2on in website and mobile app • Product Manager User experience & customer care • Foresee possible users’ enquiries and devise solu2ons • UX feedback relay workflow • Social listening • Social Media Manager • Customer Service Manager
- 28. Resources Item Details Cost (USD) Influencer engagement • Poten2al influencers: - xxxxxx (17.5K followers on Facebook) - xxxxxx (20.5K followers on Facebook) Variable, minimal Social listening tool • Poten2al vendor: XXXXXXXXXX (www.XXXXXXXXXX.com) 12,500.00 promoted post • Facebook geo-‐targeted suggested post • Instagram referralted post Variable, minimal Incen2ve to acquired users Approx. 100/user
- 29. Timeline Period Ac1on items Time Pre-‐produc2on Line up influencers Mid-‐March – Mid-‐April Plan social content and promoted posts placement March – April 2016 Technical implementa2on • referral code feature • credit system feature December 2015 – April 2016 (TBC) Customer care scripts March – April 2016 Social listening vendor engagement January – April 2016 Produc2on Phase 1 (acquisi2on) May – September 2016 Phase 2 (credit burning) October – December 2016 Weekly review May – December 2016 Post-‐produc2on • Data consolida2on and analysis • Review Jan 2016
- 30. Primary Metrics Effec1ve in acquiring users? No. of new users: total no. of new users during Phase 1 vs. total number of new users during the same period previous year Referral rate: avg. number of referral per user Cost effec1veness: customer acquisi2on cost (CAC) vs. customer life2me value (CLV) Cost effec1veness: CAC of the campaign vs. average CAC of other ini2a2ves Effec1ve in boos1ng usage? Transac1on made: total no. of transac2on made during the campaign periods vs. total no. of transac2on made during the same period previous year New users’ ac1veness: Time taken to burn 70% of total credits given away
- 31. Secondary Metrics Effec1ve in acquiring users for which product(s)? no. of transac2on in flight vs. no. of transac2on in hotel vs. no. of transac2on in car hire by users acquired Channels’ effec1veness % of total referral code shared in each channel conversion rate in each channel Influencers’ effec1veness no. of converted user (to signup) Content’s effec1veness no. of converted user (to signup)
- 32. Q&A
- 33. Possible Ques2ons Q1. Any poten2al roadblock? A1. Account balance feature. Massive integra2on works with partners website may result, more technical advice required. Q2. How can users’ authen2city be ensured? A2. Introduce a phone verifica2on step in registra2on process.