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ecommerceIQ, together with Sasin SEC, created the Leadership Ecommerce Accelerator Program (LEAP) to provide the fundamental knowledge and skills needed to successfully run an ecommerce business in the world’s fastest growing market.

The fourth week of LEAP explored the digital marketing tools that companies can use to increase the impact of their channels online.

Facebook and Google Analytics may not be new but many businesses aren’t utilizing their full capabilities. This week, LEAP lecturers take a look at digital marketing strategies to maximize business objectives and understand how it can be applied in a Central Marketing Group case study.

Here are some of last week’s LEAP highlights:

1. Capture Consumer attention with ‘Thumb Stopping Content’

VANITCHA (RY) WANKAWISANT, ACOMMERCE SOCIAL MEDIA MARKETING LEAD

It is undeniable that social media has become a vital marketing tool for businesses around the world,. In Thailand alone, these are the latest statistics:

  • Facebook: 47 million active users, with a YoY increase of 15%
  • Instagram: 11 million active users, with a YoY increase of 41%, Thailand ranked #13 in the world in terms of the number of users
  • LINE: 41 million active users, with a YoY increase of 24%, Thailand ranked #2 in the world
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Vanitcha (Ry) Wankawisant, aCommerce Social Media Marketing Lead

Given the popularity of these social channels, how can brands capture consumer attention when there is so much content to digest? Social Media Marketing Lead at aCommerce recommends brands to create what he calls ‘Thumb Stopping Content’.

Capturing an online audience requires captivating images and catchy headlines but be mindful of becoming  too intrusive. For example, when it comes to video content, always leave the sound off to avoid annoying the end user.

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Facebook users spend on average 1.7 seconds reading a post on their newsfeed via mobile and 2.5 seconds on desktop before they stop browsing.

This means that whatever content you are posting, make sure it is interesting enough to catch their attention within 1.7 seconds.

2. Giving credit to only the most effective marketing channels

WATASIT (BOOK) CHINDAKAWEE, ACOMMERCE ASSOCIATE INTERNET MARKETING MANAGER, ANALYTICS & MARKETING TECH TEAM LEAD

Google Analytics is a popular tool that is able to tell marketers which customer touchpoint should be maximized by identifying which channel led to the highest conversion rate.

In reality, customers end up buying because they are inspired by the effect of multiple marketing efforts across different channels throughout their purchasing journey.

For example, a browser may see an ad for a juicer on Facebook but only decide to buy in the afternoon by going directly to the webstore after reading a sponsored article about the benefits of juicing.
EcommerceIQ Sasin LEAP CourseBut how can online marketers give credit to channels that actually lead to sales?

The Google Analytics’ Attribution feature offers three models to allocate credits to each marketing tool – the more credits, the more effective the channel. These are the three common models:

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Last Click Model: credits are only given to the last touchpoint where purchase happened and ignores all the other marketing campaigns. To simply explain this, Khun Watasit compared it to his favorite sport:

“This process is like soccer. The guy who scored gets all the credit and those who passed him the ball are ignored.

Linear Model: the model tracks the customer journey until purchase and evenly distributes credits to each online channel.

Data Driven Model: this model is considered the most accurate to understand a customer’s entire purchasing journey before check out. Google’s unique Model Explorer (available in a paid Google Analytics 360 service) shows you the weighted average credit for the path positions prior to conversion for each channel.

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Watasit (Book) Chindakawee, aCommerce Associate Internet Marketing Manager, Analytics & MarTech Team Lead

When asked which model is best to implement, Khun Watasit said it depends on the marketing objective and budget because this feature informs marketers which channel should they invest in more in order to maximize the Return on Investment (ROI).

He suggests the brand to experiment with all models for at least 30 days.

3. There is no offline versus online

NITTHAKORN (BIRD) WONGWAN, CENTRAL MARKETING GROUP GENERAL MANAGER E-BUSINESS
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Nitthakorn (Bird) Wongwan, Central Marketing Group General Manager E-business

Thailand’s retail giant Central Group understood from an early point that the company needed to adapt to new consumer habits, especially after “The Four Big Shifts”:

  1. Aging society
  2. Urbanization
  3. Rise of China and India’s digital society
  4. Digital revolution

“Central Group no longer targets to grow our business only at malls, but we will be wherever our targets’ eyeballs are at.”

In order to do so, Khun Nitthakorn shared that the company combined the best of both online and offline by redesigning its organization’s structures and goals.

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When Central Marketing Group shifted to an O2O (offline to online) transition in 2017, it went beyond assigning a person dedicated to online marketing. Each brand, such as Dyson and Clarins, had to adopt a holistic retail strategy – there is no division between online and offline platforms.

“The KPI for marketing is no longer defined by online and offline sales, instead it sets a co-KPI towards brand sales.”

Khun Nitthakorn shared that the company already integrated online and offline promotions as well as Click and Collect at Central malls. Phase II of the company’s retail strategy will consist of consolidating inventory and CRM systems.

The next LEAP class is on Thursday October 5th, 2017 taking a look at content marketing and how to achieve positive unit economics for your business by the founder and CEO of eatigo. Stay tuned for next week’s takeaways.

[LEAP Week 1] eIQ Insights: The New Ecommerce Opportunity in Thailand

[LEAP Week 2] eIQ Insights: Refinement of an Ecommerce Channel Strategy

[LEAP Week 3] eIQ Insights: Market-Product Fit First Before Anything

Data analytics is the process of collecting and utilizing data to identify patterns to aid a specific function. It’s a field that encompasses a lot of what digital marketers do – tell stories about consumer behavior.

Analytics reveal which channels, campaigns, keywords, or target audience are top and flop performers, which are all critical to improve the bottom line for online businesses. Despite this, a solid analytics setup and understanding are very often overlooked- this applies to even the biggest names in the industry.

While these companies may spend a staggering amount of dollars on marketing, findings from E-Nor, a US based digital analytics consultant, suggests that analytics is an area where there is under-investment of money and time.

Only 3% of the biggest global brands are using digital analytics correctly.

Source: E-Nor

E-nor’s optimization framework below shows us a bottoms-up approach to grow any online business, where the peak of the pyramid represents success.

Source: E-Nor Optimization Framework

Obviously, business impact at the top means different things for everyone – it could be driving online sales, leads, traffic, ad revenue, or something else altogether – but in order to climb, a business must have a great product and strategy at the foundation.

The focus here is a sound strategy. There is very little point in investing in analytics and optimization without it and only after developing a clear road map and setting KPIs is it time for execution.

What could go wrong?

The three stages that build on the foundation are what veteran marketers find the kryptonite of many online businesses across Southeast Asia: implementation, reporting, and analysis.

Installing web analytics tools like Google Analytics (GA) properly is one thing, but setting up the account and understanding what the output means is a completely different skill set. GA is an insightful tool but can only be as accurate as its implementation.

Imagine if GA was installed in the wrong place or triggered at the wrong time on the website, it would be dangerous to rely the entire business on this data because according to the upstream of the pyramid, poor implementation cascades to poor reporting, analysis, optimization, and in turn affects the business as a whole.

Too often do businesses try to jump straight into ad or web optimization before ensuring the data captured is accurate or if the right metrics are being tracked.  

The focus here is actually a key framework that outlines the entire scope of data analytics that can be structured into these 5-steps:

  1. Audit
  2. Implement
  3. Training

  4. Analyze

  5. Visualize

Demand for all these five components has been growing audibly in recent years, but there is a shortage of talent equipped with the experience and expertise in such niche skill-sets, particularly in Southeast Asia.

Source: aCommerce Analytics

Audit & Implementation

“Data hygiene” doesn’t take care of itself, it requires constant maintenance. In order for GA to track how much traffic and conversions a website is generating, GA tags must be placed wherever these “events” can happen using Google Tag Manager.

For example, if you have a separate mobile site or a website in multiple languages, failure to place tags on all these versions and platforms is an instant red flag. It would mean that reports would be based solely on either desktop traffic and conversions, or collect data coming in from only a Thai version of the website.

A website and its visitors are also constantly changing, mandating a QA process to ensure that those changes do not affect how your analytics tags respond and fire. Since the tags are capturing data directly from the website code, any changes to this code may result in unpredictable and undesirable outcomes.

Once tags are properly implemented, GA account settings need to be tailored to accommodate the features of each website. These tweaks include referral exclusions, spam filters, channel grouping, and AdWords linking. They not only result in more accurate data, but also a cleaner view of data.

Whether it’s having someone audit your current setup or setting it up from scratch, recommended practice is to do this right from Day 0, because the bulk of the data in GA is dead as soon as it has been parsed, meaning there is very little room to retroactively adjust past data.

Once setup is up to standard, we have peace of mind to trust incoming data and derive actionable conclusions from the numbers.

Training

With quality data flowing into GA, the next sensible step is to provide training for those who rely on it daily. GA reports consist of four main components (AABC): audience, acquisition, behavior, and conversions.

Online resources are a great place to start, Google provides free online resources covering topics on GA, but like acquiring any new skill, working with certified instructors can save company employee’s valuable time and accelerate deeper understanding.

Analysis & Visualization

The final pieces of the analytics puzzle lies in data visualization and the analysis itself. With a whole host of reports, metrics, dimensions, and abbreviations to learn and recall, finding trends and actionable insights from huge datasets can be an overwhelming task.

One might have to dive into five different reports from multiple marketing tools in order to answer an everyday question like what were the ad impressions, spend, web traffic, and sales generated from one of our Facebook campaign yesterday?

The ultimate pain point is having to manually map ad impressions and cost data from Facebook, and sales data from our CRM to complement GA sessions.

With a dashboard, imagine a canvas with all the key metrics and charts that can be monitored at a single glance. The setup may be tedious, but a dashboard with automated workflows ensures that this will become a one-time effort.

Google recently released Data Studio- a data visualization tool that makes dashboards centralized, interactive, automated, and shareable.

As often as it gets overlooked, data analytics is a crucial aspect to any online business. Its scope spans beyond a simplistic approach of making analyses and drawing conclusions, but also involves a multifaceted process of auditing and implementing tags, setting up a leak-proof analytics account, and deriving actionable insights from reports via visualization.

From data collection, cleansing, consolidation, to presentation, a strict set of standards and best practices are required in a market where not many are qualified for this expertise.

However, if the business can overcome these hurdles and translate its top-line objectives into metrics, they will only be a few steps away from a strong digital marketing strategy.

By Watasit Chindakawee, Associate Internet Marketing Manager & Analytics Team Lead at aCommerce

Last week, ETDA Thailand launched ‘Ecommerce Week‘ to give SMEs a chance to match with service providers that could help them gain an online presence facilitated through a special ‘business matching’ segment. During the week long event, many speakers were invited to share their learnings in building an online business.

The proportion of SMEs is high in Thailand but the government has stated that small businesses hold the key to the country’s economic future. According to The Nation, out of 2.7 million SMEs and startups of all sizes, 600,000 are registered as various types of juristic people and the rest as individuals in Thailand. The aim of the event was to educate SME owners about ecommerce; how to effectively sell online, which tools they should utilize and how to target customers based on their product.

This is the ecommerce framework for SMEs as presented by aCommerce Director of Internet Marketing, Orakarn Chantaramungkorn.

Watch Orakarn’s presentation in Thai here: [embedyt] http://www.youtube.com/watch?v=LZEaX9ehpUY[/embedyt]

VIDEO TRANSCRIPT

How can SMEs effectively sell online? 

The Ecommerce Framework model is composed of four key components:

  1. Product
  2. Customers
  3. Testing
  4. Tracking

Product: Think about the product that you’re selling. How does it differentiate, is it better than the competition? Price is an important element. A consumer would be less likely to choose between a Chinese android and a Samsung phone if the price of the two devices were comparable.

Customers: It’s vital to think about consumer trends. For example, the health food and clean eating trend is booming in Thailand. This prompted Korea King to launch pans that don’t require oil to cook. Asia Insurance also launched ‘Pokesurance’ to tap into Thailand’s Pokemon Go craze.

  • When targeting users on Facebook, also personalize your advertisement the best you can to your product’s target group. For example, middle aged men may not be as receptive to an advert on facial cleansers as much as women in their late twenties would be.
  • Always link to the right product that potential customers are clicking on, whether the ad appears on Facebook or a web page. Understand your engagement.

 

Let’s talk numbers

Allocating customer retention budgets is similar to arranging a stock portfolio. It’s important to think about how to reduce the cost of your online ads.

The recruiting metrics of your business depends on your budget, earnings and profits. To balance it out, calculate your earnings and costs with the number of customers you have, combined with how many times a returning customer returns, and you’ll have a realistic valuation of how much one customer is worth.

How to keep customers

Customer retention will depend on the following:

  • Type of product offered by your company (i.e. diapers, coffee are things customers will buy more than once)
  • High quality product and service
  • After sales communication (LINE is very effective in reaching out to returning customers)
sushi

Line offers a way to personalize communication with customers, which contributes to a higher return rate

A customer’s decision journey

Before a customer decides on a purchase, he/she goes through a journey of online discovery:

  • Facebook marketing
  • Google search
  • Influencer marketing
  • Price comparison site
  • Email marketing
  • Retargeting

 

Testing: Business owners can test different ads/banners depending on their target audience. A campaign can use the same budget, timing and same advertisement copy but be sent to two different target groups.

  • Test an advertisement with a target group of 30 year olds and a group of 50 year olds and then measure the results to see which one is most effective.

Tracking: Use Google Analytics to track results, and analyze your customer shopping behavior. Ensure that your account is set up correctly for accuracy in numbers, which can be later used to maximize later campaigns and improve your business success.

  • Facebook Shop allows business owners to track impressions, clicks and orders for better management of your page.
  • Having awareness of your target customers, a platform to track performance and most importantly, a reliable product means you’re on your way to starting an online business.

For more information about ETDA and their upcoming events, click here.