Starting a web-platform or a marketplace?
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Key Questions When Scaling An O2O Business Platform Across Asia.
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Starting a web-platform or a marketplace?
- 1. Starting a web-platform or a market place? Key Questions When Scaling An O2O Business Platform Across Asia
- 2. What You Will Learn 1. Who’s lalamove? 2. Starting your market place 3. Growing your market place 4. Takeaways
- 4. Blake Larson Head Of International Boris Stoyanov-Brignoli Creative Lead | Marketing About Us STARTING GROWING TAKEAWAYINTRO
- 6. Who Is lalamove? Van, motorcycle, lorry, & truck Instant matching Tracking 24/7 2014 5 cities 2015 20 cities DEC.2013 Launch 250k users +USD 10M 450k users +USD 10M STARTING GROWING TAKEAWAYINTRO
- 7. Our Positioning STARTING GROWING TAKEAWAYINTRO *(cash / livestock / frozen meat) What type of goods? Regular Special* What distances? Intra-city Intercity Inter-province International
- 8. O2O, Why Is It Unique? STARTING GROWING TAKEAWAYINTRO
- 9. Starting your market place 2
- 10. Platform vs. Marketplace GROWING TAKEAWAYINTRO STARTING A matter of price & quality control
- 11. Platform vs. Marketplace GROWING TAKEAWAYINTRO STARTING What’s your level of implication?
- 13. Key Challenges GROWING TAKEAWAYINTRO STARTING Who am I talking to?
- 19. Key Opportunities GROWING TAKEAWAYINTRO STARTING Traditional vs. Tech API Real time pooling Network effect Not assets
- 20. Key Opportunities GROWING TAKEAWAYINTRO STARTING Under utilized capacity & fragmentation
- 21. How To Make Money GROWING TAKEAWAYINTRO STARTING Demand Supply
- 22. Growing your market place 3
- 23. B R E A D T H DEPTH Tactics TAKEAWAYINTRO STARTING GROWING Breadth vs. Depth
- 24. Core Values & Assets TAKEAWAYINTRO STARTING GROWING Speed Execution Replication Localization
- 25. Objectives & Stages TAKEAWAYINTRO STARTING GROWING CAC Cash flow Network effect Critical mass
- 26. Objectives & Stages TAKEAWAYINTRO STARTING GROWING Cohort Lifetime Value
- 27. Do You Know Who You Are? Before you scale, know who you serve and who you are TAKEAWAYINTRO STARTING GROWING
- 28. Scale Requires Process How Do I Prepare To Scale TAKEAWAYINTRO STARTING GROWING
- 29. What Are They Key Decisions I Need To Evaluate? TAKEAWAYINTRO STARTING GROWING
- 30. So Should I Expand To China? TAKEAWAYINTRO STARTING GROWING
- 31. Where To Invest Next? No right answer Individual and personal opinions on investors TAKEAWAYINTRO STARTING GROWING
- 32. Takeaways 4
- 33. Your start INTRO STARTING GROWING TAKEAWAY What is particularly transformative about the service? Why now? Why hasn’t this been done already? What could the service ultimately become and how does that change the market opportunity?
- 34. Your market INTRO STARTING GROWING TAKEAWAY By tackling a particular problem in a more narrowly defined market, a start-up can become the new standard in that market.
- 35. Acquisition INTRO STARTING GROWING TAKEAWAY Vs. CreativePAID
- 36. Supply side INTRO STARTING GROWING TAKEAWAY Cost per lead Training Background check On- boarding
- 37. INTRO STARTING GROWING TAKEAWAY Demonstrate Efficiency From Technology
- 38. "10 things I wish I had known before I started Easyvan” Shing Chow, Founder & CEO
- 39. You need a great body to build a great company 1
- 40. You need to surround yourself with talents 2
- 41. You need to think bigger 3
- 42. You need to do a lot of sales 4
- 43. You will almost go to the brink of depression sometimes 5
- 44. You will be on cloud nine on some days 6
- 45. 5 and 6 will happen on the same day 7
- 46. Ideas matter, but matter only 1% 8
- 47. You need to be tough on yourself, but also tough on others 9
- 48. It is very very very tough and it is not for most people 10
- 49. 49 Thank You
Notes de l'éditeur
- About Us
- 10% online, 90% offline Create a consistent experience from on-line to off-line It’s all about tech; actually lots of CS / Ops offline work More = Better; wrong; Less Drivers, More training Consumer > Business; sometimes Product Features and Web App
- Concept Do you set the price? Do you let the market do it? What's you quality control over final price? What we do We set the price We align our prices and twist them a little based on the market / competition
- Concept What is your level of implication? Who do you blame in case of problem? Example: Uber, Airbnb, eBay What we do - People will blame us before the drivers High quality control Background check for drivers Verification Training We insure users get a vehicle: implies operations in this process
- Concept What product(s) serve the best your customers? Do I need to be cross platform? Depends on target and clients expectations Started as consumer, then went SME, now larger companies What we do Started with an app Extended to desktop and tablet for multipurpose: Ex tablet: IKEA booth Ex desktop: Corporate orders
- Concept Expectation higher on business side rather than customer. Customer retention harder, cost a lot of marketing Business demand is a longer process, more sustainable long term Network Effect for B2C target What we do There’s no rule, adapt to market evolution and demand Started 100% consumer oriented, them moved to business and professional demand
- Concept Which side to grow first and why How to grow at same time What we do Which side is harder to grow first? We build supply first We balance supply and demand. Tactics
- What we do Subsidies. Driving supply Marketing: SEM, off-line. Driving demand Surge pricing (Uber style), driving supply where demand ask for focus Aggregated demand & offer (vs. call center)
- What we do Fulfillment rate: set high objectives (ex: minimum for us: 90%) Retention on both sides: based on quality, make sure the people you provided with your service will return.
- Concept Traditional: single user, distribution center, sorting center, no route optimization What we do Last mile represents average 28% Last mile players fragmented market opportunity Gogovan: compete on quality
- Concept Traditional: single user, distribution center, sorting center, no route optimization What we do - Not assets - Real time pooling - Network effect thanks to tech
- Concept Value is being lost in traditional process Drivers lose the opportunity to use their transportation capacity Users face supply problem What we do Route optimization On-demand, gathering huge data base
- Concept: Where do I take a cut? What we do: Driving revenue from supply or demand? Amazon inventory, commissions / cut, advertising, insurance for high value goods, partnerships
- Concept - Breadth: offering a wide range of products under 1 roof, cost more in HR / IT / OPS ressources - Depth: specialized in a service offer, 1 specific product or pricing, 1 geographic presence (single marketing mix) What we do Both, depending on geographic expansion SEA Going deep into each market, focusing on cities growth for each country Product: tailor building product for different projects (Google in HK, McDonald in SG) Developing a targeted marketing strategy Main objective: long term retention strategy, stickiness CHINA Expansion key strategy Develop as fast as possible as many cities as we can Heavy sales (off-line) approach
- Concept - Speed - Execution - Replication - Localization What we do - Speed: 2 years and 12 cities - Execution: think fast, act fast. Example: - Replication: standardize without losing flexibility and creativity - Localization: standardization can go against localization. Build strong foundation to make fine-tuning and small changes easy.
- Concept: Cash flow: anticipate cash burn when scaling. Network effect: what effect one user of you service has on the value of your service to other people? Critical mass: estimate the number of users / revenue generated that will allow you to scale, grow and develop your product. What we do - Customer acquisition cost Cash flow: burn cash when scaling Network effect: we rely on the value we bring up to the market, by shortcutting the traditional way. We believe respectively both supply and demand can increase their revenues and find flexibility and simplicity with our platform Critical mass: KPI? Number of orders? FF rate?
- Concept Cohort Life time value Profitability What we do Cohort WHY The cohort provides a grid for us to view retention on both the demand and supply sides. We are able to see and track the lifetime values and usages of all of our users, including business users. The cohort presents an easy way to view this information, showing both percentages and absolute numbers. Currently we update the cohort every month; however, we may eventually create a weekly cohort as our users become more “sticky”. Cohort WHAT We use the cohort to analyze how well we retain our users and drivers. We can also see the percentages of drivers who become verified in a month and also take an order. This allows us to see if we are doing a good job with our driver training and recruitment. On the demand side, we can see the user retention and see if our new and existing users are staying with our platform overtime. In the event that there is a fall-off, we can easily follow up with the users in that cohort and see what happened.
- Premature scaling can kill a company Who is your core market and what do they value Consumer Speed Access Engaging Business Robustness Service Level Reliability Cost Shift in Strategy (Chart showing Breakdown of Consumer vs. Bus Trend) (image) Old Graphics vs. New (app or marketing materials) Single vs. Multi Product
- Image of a foundation Areas process is very helpful HR Finance Tech If you are tech, use tech for as many functions as possible (many great 3rd party services)
- How to build a scalable platform while remaining relevant at a local level Considerations Language, features, payment, registration, marketing Visual- China vs. SEA (fragmented countries) 2 tech teams; overall team size and sales strategy Keep similar wherever possible, small changes Build things that can be applied universally first Pick markets that are more similar (HK was very different, made it difficult for us)
- -market size Advantages / challenges Your team’s capabilities Your understanding of tech Capital available If you have a good model, it will be competitive
- When to invest in existing markets and when to expand No right answer Everyone has their own opinion particularly investors Easy Taxi vs Grab Taxi (Breadth vs Depth) Easier to do breadth in China as city by differences are smaller; tech platform is more universal
- 离Uber远点—On Demand模式的10个成功要素 http://mp.weixin.qq.com/s?__biz=MzI1ODAzMTgyMw==&mid=400110565&idx=1&sn=455c591022f6dd3203691aca049f1e02&scene=2&srcid=1023erDYE5yUxePv4aSbkvf9&from=timeline&isappinstalled=0#rd
- 离Uber远点—On Demand模式的10个成功要素 http://mp.weixin.qq.com/s?__biz=MzI1ODAzMTgyMw==&mid=400110565&idx=1&sn=455c591022f6dd3203691aca049f1e02&scene=2&srcid=1023erDYE5yUxePv4aSbkvf9&from=timeline&isappinstalled=0#rd
- Acquisition Build great content Sharable Consistent branding Example: Durex campaign
- Don’t fall into the rush of expansion Don ‘t scarify tech scalability and capacity in the name of expansion