Kopi chat takeaways digital marketing 19/07
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The key takeaways from our Kopi Chat sharing session hosted in BLOCK71 Jakarta. Edward Kilian Suwignjo, Chief Marketing Officer of OLX Indonesia, shared his insights on digital marketing for the current age. Kopi Chat is a series of talks organized by BLOCK71 Jakarta that brings in speakers from all around the world to connect with the community of entrepreneurs and developers. To attend events, just hit up the website: www.block71.co/jakarta
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Kopi chat takeaways digital marketing 19/07
- 1. Kopi Chat Takeaways DIGITAL MARKETING Strategies to Boost Business Growth by OLX Indonesia 17th July 2017
- 2. Edward Kilian Suwignjo, CMO of OLX Indonesia Moderator: Ivan Nashara, VP Marketing of eFishery
- 3. Marketing We cant win on everything, we need to select our battles. We focus on classified second-hand goods. Were the only strong ones there and were only strong there. We choose our battles. If we become everything, we become nothing. Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia
- 4. Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Focus on one thing and go big, then you really matter to your audience. We write our purpose first. The revenue, sales and other results will come later.
- 5. Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Why are people willing to pay Rp 1.2 million for a pair of Levis but not willing to pay half the price for a pair of Lepis? Its all marketing.
- 6. Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Does a cheaper product mean worse quality? Not necessarily, but people are still not willing to pay because they did not market successfully.
- 7. Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Marketing is about story-telling and orchestrating stimulus. Imagine an orchestra. If theres only the drummer playing, then only drummers will be interested in it. When we add the strings, piano and singer then it becomes an orchestra that everyone can enjoy, that people will be willing to purchase.
- 8. Digital Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Keep the important metrics in mind. Do you get profit from installs? We at OLX track new buyers, new sellers and number of transactions. Remember that the point of a business is to make money.
- 9. Digital Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia If your goal is to have merchants succeed on your ecommerce platform, number of downloads is not necessarily the KPI thats relevant to your goal.
- 10. Paid Media - Programmatic Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Traditionally, we had one TV advertisement for all audiences. Now with digital marketing we can air the most relevant advertisements to specific audience groups.
- 11. Paid Media - Programmatic Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Even if we use programmatic marketing, it may not necessarily be accurate. We need to make sure and double-check after engaging with us.
- 12. Paid Media - Search Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia If you have low marketing budget, use search marketing. Youll need this if you are up against strong competitors with better SEO. You need a jump start.
- 13. Paid Media - Search Marketing Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia A person searching has an active mindset. Theyre actively seeking the product you provide.
- 14. Paid Media - Ad Networks Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Treat Facebook as paid media. It doesnt matter if people liked your page or if your fan base is large, you still have to pay to reach them.
- 15. Paid Media - Ad Networks Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia While we dont know if the audience has an active mindset on facebook, we at least can know that they are part of the audience demographic of interest.
- 16. Paid Media - Direct to Publishers Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Very good, but very expensive. It brings impact in terms of branding and top-of-line awareness.
- 17. Paid Media - Mobile Advertisement Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Mixed between expensive and cheap. Their greatest strength is their geolocation. We can where they are.
- 18. Paid Media - Mobile Advertisement Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Some of these vendors know more than we think. As an advertiser, Im interested. But as an individual, I get scared. Geolocation, last website visited, some vendors can even install apps in pre-bought phones.
- 19. Paid Media - Youtube Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia High budget, you have to pay for videos made, and videos cost a lot more than just banners.
- 20. Paid Media - Big Data Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Big Data is not about the data. Sure, the data is big, but what we want to know is consolidated data.
- 21. Paid Media - Big Data Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia After consolidation of data, we can know a lot of things; whether a user is a buyer or seller, which media they came from, which category theyre selling, potential other categories etc. Thats how we measure if something succeeded or not.
- 22. Paid Media - Big Data Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia When we want to optimize campaigns, dont use cost per installs to do so. You can buy installs, but dont use installs to optimize your campaign. Use data on what the activities are after the installs.
- 23. Paid Media - Big Data Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Diminishing returns applies to digital advertising. Dont start with too big of a marketing budget, start small and observe where the level of impact begins to plateau.
- 24. Owned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Its the most important but least used. We forget what to do with customers after theyve joined our groups or websites.
- 25. Owned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia This is good because people in them already like you and use your service. Theyre also the easiest to convince to use the service again.
- 26. Owned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia You cannot assume that sending the same media across all your customers will have the same effect on everyone. You have to remember: right message at the right time of the audience cycle.
- 27. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia If you get it right, people will talk about you for free, with credibility and easily.
- 28. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Facebook allows 1% of your fanbase to see your postings for free, but theres a way to hack this. When were talking about social media, dont forget about the social aspect. People share. Talk about both our own timelines and other peoples timelines.
- 29. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Talk about the ideas behind features. Nobody cares what the features are. Dont talk about the tech specs, talk about why these specs are important.
- 30. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Sometimes we post things randomly on social media. When we make things predictable, it will make people want to come back to you more. If its random, people will get confused on whats being posted.
- 31. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Facebooks logic is that if we have high quality posts, they will show our posts more. Because they have an obligation themselves to fill their users feeds with interesting posts.
- 32. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia Make a connection with people. You dont necessarily have to pay big money for people to make videos for you. Pitch your idea and make a connection.
- 33. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia The way to get some opinion leaders is always there. Its about you using your network and you pitching your ideas.
- 34. Earned Media Edward Kilian Suwignjo Chief Marketing Officer OLX Indonesia There is no magic formula. If there is one, then Ill sell it! Different brands, different businesses, different persistence, different results.
- 35. Kopi Chat Takeaways @Block71 Jakarta A special thanks to everyone who attended Kopi Chat @BLOCK Jakarta and made the event possible! 17th July 2017