WEBVTT - Creating winning retail strategies with Social Commerce 0:00:03.099 --> 0:00:08.568 Good morning and welcome to this morning's executive insights by 0:00:08.579 --> 0:00:12.670 media Corp. So this morning's topic is creating winning retail 0:00:12.680 --> 0:00:16.569 strategies for social commerce and I'm joined by some very 0:00:16.579 --> 0:00:20.430 special speakers um experts on this topic. First of all, 0:00:20.440 --> 0:00:20.590 we have, 0:00:20.709 --> 0:00:25.279 I'm Kenneth Tan, the co-founder and CEO of B live Technology, 0:00:25.350 --> 0:00:30.219 a social live streaming platform product that enables brands to 0:00:30.229 --> 0:00:36.720 live stream across all verticals including e-commerce technology, fashion, beauty 0:00:36.729 --> 0:00:38.199 and more. Welcome, Kenneth, 0:00:40.270 --> 0:00:41.680 everybody. Thanks for having me. 0:00:43.668 --> 0:00:47.400 Kenneth is also a Singapore native um and was voted 0:00:47.409 --> 0:00:52.330 Singapore entrepreneur of the year by the computer society in 2021. 0:00:52.418 --> 0:00:54.520 Uh So very happy to have you here today. 0:00:56.119 --> 0:00:58.979 Joining us as well is Suzie Wang. Suzie Wong is 0:00:58.990 --> 0:01:03.169 head of strategic projects and partnerships at media Corp. Susie 0:01:03.180 --> 0:01:07.739 has over 20 years experience in digital marketing, content and commerce. 0:01:07.769 --> 0:01:11.800 She also heads up media Corp's own e-commerce strategy and 0:01:11.809 --> 0:01:15.550 is the founder behind Wonder Wonder Shop is a content 0:01:15.559 --> 0:01:20.050 commerce stream that inspires shoppers of media corps, entertainment and 0:01:20.059 --> 0:01:21.169 social channels 0:01:21.410 --> 0:01:25.919 to store, helping brands to Storify their stories and drive 0:01:25.930 --> 0:01:29.059 conversions on our platform. So great to have you here, Suzie. 0:01:29.589 --> 0:01:31.690 Thanks Lacy Good morning, everyone. 0:01:31.930 --> 0:01:34.970 Good morning. Um And my name is Lacy Ewan. I'm 0:01:34.980 --> 0:01:38.019 the digital commercial lead here at Media Corp and I'm 0:01:38.029 --> 0:01:42.419 here today to help facilitate this conversation on social commerce. 0:01:42.480 --> 0:01:46.559 So before we dive into all the great content that 0:01:46.569 --> 0:01:49.110 we've got for you today, we wanted to take a 0:01:49.120 --> 0:01:53.620 quick audience poll just to understand within the room, the 0:01:53.629 --> 0:01:57.620 experience and exposure that the audience has had to e-commerce 0:01:57.629 --> 0:01:58.400 at this stage. 0:01:58.660 --> 0:02:01.599 So we'll just take a, a few moments to run 0:02:01.610 --> 0:02:04.959 this poll. The question is, has your brand embarked on 0:02:04.970 --> 0:02:10.029 social commerce? Interesting. So 38% of you in the room 0:02:10.038 --> 0:02:14.910 has said yes, you've embarked on social commerce. 31% said no. 0:02:15.190 --> 0:02:18.440 Uh We had 10% planning to do so in the 0:02:18.449 --> 0:02:23.168 next 3 to 6 months and 21%. Not yet 0:02:23.264 --> 0:02:26.634 sure how to go about it. Uh So Kenneth Suzie, 0:02:26.645 --> 0:02:29.214 it's clear we have a, a mixed bag in the room. 0:02:29.225 --> 0:02:31.865 Um So when we go through our content, it will 0:02:31.875 --> 0:02:34.764 be interesting to frame it from this perspective. Understanding, we 0:02:34.774 --> 0:02:38.154 do have some newbies that haven't yet embarked on social 0:02:38.163 --> 0:02:39.514 commerce as well. 0:02:40.000 --> 0:02:43.279 So before we get into the speakers, I just wanted 0:02:43.288 --> 0:02:47.210 to frame the conversation from a commercial standpoint um in 0:02:47.220 --> 0:02:50.119 terms of what we're hearing from brands in terms of 0:02:50.130 --> 0:02:54.589 their concerns. So the first question that we're often getting 0:02:54.600 --> 0:02:57.619 from brands is really how can we balance that short-term 0:02:57.630 --> 0:02:59.369 and long-term investment 0:02:59.684 --> 0:03:02.294 and what they mean by that is, you know, investing 0:03:02.304 --> 0:03:07.095 in the upper funnel brand marketing versus driving conversion and 0:03:07.104 --> 0:03:10.735 social commerce plays an interesting role within this because essentially 0:03:10.744 --> 0:03:13.195 it is content, but it also has a K P 0:03:13.205 --> 0:03:16.614 I of driving conversion. So I'm very keen Kenneth and 0:03:16.625 --> 0:03:18.763 Suzie to, to hear your thoughts on this later on 0:03:18.774 --> 0:03:19.293 as well. 0:03:19.929 --> 0:03:22.220 The, the second question we get when it comes to 0:03:22.229 --> 0:03:27.220 social commerce is really, it's a complex and fragmented ecosystem. 0:03:27.240 --> 0:03:30.139 So how do we know where to funnel our attention 0:03:30.149 --> 0:03:33.669 and our money? And this is particularly important for SME 0:03:33.679 --> 0:03:38.070 S or smaller brands that have limited resources available, knowing 0:03:38.080 --> 0:03:40.339 which channels to choose to get started. 0:03:41.509 --> 0:03:45.619 The third is really harnessing omni channel potential and utilizing 0:03:45.630 --> 0:03:48.619 first party data. So we know some of the obvious 0:03:48.630 --> 0:03:51.389 choices is to go with the big brands and the 0:03:51.399 --> 0:03:55.600 Behemoths like Lazada. But again, they are first party uh 0:03:55.610 --> 0:03:59.449 data holding onto that data. They are walled gardens. So 0:03:59.460 --> 0:04:01.759 what are some of the ways that we can utilize? 0:04:01.770 --> 0:04:05.050 Uh we can utilize social commerce to retain our own 0:04:05.059 --> 0:04:07.860 first party data? And how can we all know also 0:04:07.869 --> 0:04:09.539 harness omni channel? 0:04:09.639 --> 0:04:11.500 Because one of the things that we know from an 0:04:11.509 --> 0:04:15.529 omni channel perspective is the size of an omni channel 0:04:15.539 --> 0:04:19.049 buyers basket tends to be larger the studies by Google 0:04:19.059 --> 0:04:22.928 and Walk show that it's 1.5 to 2.1% larger than 0:04:22.940 --> 0:04:25.649 the average consumer So how can brands get a, a 0:04:25.660 --> 0:04:28.619 bigger piece of their pie and look to diversify their 0:04:28.630 --> 0:04:32.190 social commerce with a omni channel strategy as well. 0:04:34.820 --> 0:04:38.570 So just looking at the the landscape as a whole 0:04:38.579 --> 0:04:42.049 walk and Google did a study over 16 countries and 0:04:42.059 --> 0:04:45.369 they looked at existing and emerging channels for brands across 0:04:45.380 --> 0:04:48.279 S E A when it comes to purchasing on digital. 0:04:48.529 --> 0:04:52.170 So we know that during the pandemic, it really accelerated 0:04:52.178 --> 0:04:56.869 uh digital marketing and it accelerated digital purchasing on e-commerce 0:04:56.880 --> 0:04:59.589 shop attainment, social commerce and more 0:04:59.850 --> 0:05:02.760 so much so that I think it's grown three times 0:05:02.769 --> 0:05:05.779 the size that it was before the pandemic. And there's 0:05:05.790 --> 0:05:09.678 also estimates that by 2024 it's going to overtake that 0:05:09.690 --> 0:05:13.089 of physical stores. So we do know for brands, this 0:05:13.100 --> 0:05:15.600 is something that they should be putting their attention on. 0:05:15.769 --> 0:05:18.500 We do know based on this study that Google and 0:05:18.510 --> 0:05:21.079 Walk has done that they're looking at 0:05:21.178 --> 0:05:25.859 online marketplaces now as traditional e-commerce and things like social 0:05:25.869 --> 0:05:29.510 commerce are really the emerging and scaling markets that we 0:05:29.519 --> 0:05:32.880 need to look at as brands. So I'm curious, moving 0:05:32.890 --> 0:05:36.570 on to the speaker portion, Suzie, can you tell us 0:05:36.579 --> 0:05:39.700 the difference between e-commerce and social commerce and what are 0:05:39.709 --> 0:05:42.368 the things that brands need to consider? So, 0:05:42.839 --> 0:05:45.589 um great that the audience uh looks like I think 0:05:45.600 --> 0:05:49.950 about 50% have not gone into social media. So let, 0:05:49.959 --> 0:05:53.750 let me just start by defining uh what exactly is 0:05:54.109 --> 0:05:57.489 social commerce, right? And uh it, it is a very, 0:05:57.500 --> 0:06:00.329 it is actually a subset of e-commerce, right? Social commerce 0:06:00.339 --> 0:06:01.510 is a subset of e-commerce, 0:06:01.785 --> 0:06:05.094 but it's a very human approach to e-commerce, right? So 0:06:05.105 --> 0:06:08.635 if you are in e-commerce on daily basis, you're dealing 0:06:08.644 --> 0:06:14.325 with things like product listing, you know, category management, search 0:06:14.334 --> 0:06:18.095 recommendation engine, you know, boring stuff, right? I but important 0:06:18.105 --> 0:06:20.234 stuff but they are very, very functional. 0:06:20.609 --> 0:06:23.450 But when it comes to social commerce, right? Frequently the 0:06:23.459 --> 0:06:27.558 words you use uh it's about content, it's about experience, 0:06:27.570 --> 0:06:32.600 it's about storytelling, uh community influence and these are the 0:06:32.609 --> 0:06:35.420 engagement of course, and these are important words and I 0:06:35.428 --> 0:06:37.518 I spend a bit of time to talk about examples 0:06:37.529 --> 0:06:40.579 in a bit but just the the basic definition, right? 0:06:40.589 --> 0:06:44.339 So social commerce is a subset of e-commerce and to 0:06:44.540 --> 0:06:49.058 give a a more uh granularity to it, basically 0:06:49.579 --> 0:06:54.709 the integration of um product discovery, um 0:06:55.420 --> 0:06:59.570 the sorry, the integration of social experiences and ecommerce transaction. 0:06:59.579 --> 0:07:01.799 So basically in the sales funnel, what you really want 0:07:01.809 --> 0:07:04.630 to do is drive consumers down the funnel really quickly, right? 0:07:04.640 --> 0:07:07.630 From product discovery all paid to check out very quickly. 0:07:07.640 --> 0:07:10.609 So in social commerce, you can do that very efficiently. 0:07:10.619 --> 0:07:13.329 It's almost like a sales funnel compression, right? 0:07:13.549 --> 0:07:16.299 So that from the point of inspiration to the point 0:07:16.309 --> 0:07:20.339 of checkout, it happens within the social media platform or 0:07:20.350 --> 0:07:23.429 it could be enabled by social media platform, right? So 0:07:23.440 --> 0:07:27.980 you imagine things like content audience engagement, seamless checkout. These 0:07:27.989 --> 0:07:33.630 are key success factors. OK? So with this two uh 0:07:34.140 --> 0:07:36.609 definition of what social commerce is mean. 0:07:37.390 --> 0:07:42.019 OK. So let's you hear a lot about uh discovery commerce, right? 0:07:42.029 --> 0:07:44.619 In the next few slides. So early on, I talked 0:07:44.630 --> 0:07:48.109 about the sales bundle where you you are catching consumers 0:07:48.119 --> 0:07:50.589 at the point of product discovery. Now, we all know 0:07:50.600 --> 0:07:53.359 that there are basically two types of shoppers, right? The 0:07:53.369 --> 0:07:55.980 first uh they know exactly what they want, right? And 0:07:55.989 --> 0:07:59.079 mostly guys, I guess I need to buy some nails, right? 0:07:59.089 --> 0:08:01.579 And you walk into, into a hardware store and you 0:08:01.589 --> 0:08:04.500 buy exactly what you need. But for most of us 0:08:04.899 --> 0:08:09.768 myself included, we we tend to uh prefer browsing, you know, 0:08:09.779 --> 0:08:13.350 getting that inspiration, what to buy. You want to shop around, 0:08:13.359 --> 0:08:16.989 browse around. So this chart basically shows uh that from 0:08:17.000 --> 0:08:18.470 the survey, we know that 0:08:19.070 --> 0:08:25.109 more than 50% of online purchases are actually discovery led, right? 0:08:25.119 --> 0:08:28.910 Versus search land, search lab. It quickly, you kind of 0:08:28.920 --> 0:08:31.500 know what you want and you search specifically for the 0:08:31.510 --> 0:08:33.880 best price or you know where to get it. But 0:08:33.890 --> 0:08:37.530 for the promotions, but discovery la means you want, you 0:08:37.539 --> 0:08:40.359 want to be inspired, right? You want to understand the 0:08:40.369 --> 0:08:43.380 product attributes, you want to be, you want to be delighted, 0:08:43.939 --> 0:08:48.609 right? In shopping. So in the Discovery Lab, shopping uh 0:08:48.619 --> 0:08:52.489 out of the 53%. So which, which channels are the 0:08:52.499 --> 0:08:56.359 most important for discovery lab. No surprises. It's definitely social 0:08:56.369 --> 0:08:59.629 media that takes up social media, short video messaging that 0:08:59.638 --> 0:09:04.017 takes up about uh 62% right? So in short, what 0:09:04.028 --> 0:09:07.448 I'm saying here is we while we're here in this room, 0:09:07.458 --> 0:09:07.809 um 0:09:08.080 --> 0:09:12.859 because the future online retail is really discovery driven and 0:09:12.869 --> 0:09:16.909 social media is indeed the most important driver of discovery, right? 0:09:17.099 --> 0:09:22.210 So definitions and why it matters and what about in 0:09:22.219 --> 0:09:25.650 the local context, right? If you look at this data, 0:09:25.659 --> 0:09:26.090 uh 0:09:27.070 --> 0:09:30.468 users for us, what are the main reasons you use 0:09:30.479 --> 0:09:33.710 social media and out of the top 15, 5 of 0:09:33.719 --> 0:09:38.109 them are related to commerce, right? Things for example, finding 0:09:38.119 --> 0:09:42.520 content 26% finding inspiration for things to do and buy 0:09:42.530 --> 0:09:48.500 is 25% right? So this really is about placing yourself 0:09:48.510 --> 0:09:52.049 your products and services at the point where consumers are 0:09:52.309 --> 0:09:54.880 uh in the discovery phase. All right. So that's the 0:09:54.890 --> 0:09:57.200 local statis statistics we have. 0:10:00.080 --> 0:10:03.369 So what about the opportunities, right? How big is the 0:10:03.380 --> 0:10:08.179 market so globally? Uh we know right now it's roughly 0:10:08.190 --> 0:10:12.260 about $500 billion. Social commerce is worth about 500 billion. 0:10:12.570 --> 0:10:17.460 Now by 2025 it's projected to grow up to 1.2 trillion, 0:10:17.469 --> 0:10:20.209 that's like 2.5 times. So 0:10:20.729 --> 0:10:25.380 um that's huge, right? And in terms of contribution to 0:10:25.390 --> 0:10:29.330 total e-commerce, uh it's taking up about social commerce is 0:10:29.340 --> 0:10:32.260 taking about 10% of all ecom spend 0:10:32.559 --> 0:10:37.059 and definitely is expected to rise about 17% by uh 0:10:37.070 --> 0:10:40.739 20 sorry, there's a typo there 2025 right? So it's 0:10:40.750 --> 0:10:43.239 three times as fast as ECO. That's something for us 0:10:43.250 --> 0:10:47.320 to know about, about locally uh in Singapore right now. 0:10:47.330 --> 0:10:51.700 Uh in 2020 and uh last year, the entire ECO 0:10:51.780 --> 0:10:55.729 is worth 14 billion US D or sorry uh worth 0:10:55.739 --> 0:10:59.619 nine billion US D and by 2027 is worth 14 billion. 0:10:59.630 --> 0:11:01.070 So imagine if, if so 0:11:01.299 --> 0:11:05.299 commas is about 2030% share, that's huge, about four billion 0:11:05.359 --> 0:11:07.119 are worth as a bucket. 0:11:07.880 --> 0:11:11.900 So, Susie, I think you've beautifully here encap the size 0:11:11.909 --> 0:11:16.039 of the opportunity, right? Um 14 billion is, is obviously 0:11:16.049 --> 0:11:18.260 nothing to be sneezed at and there is definitely an 0:11:18.270 --> 0:11:21.380 opportunity to be had by brands. So I guess the 0:11:21.390 --> 0:11:24.530 the next question that I would naturally have is what 0:11:24.539 --> 0:11:27.329 are some of the channels, the formats that they can 0:11:27.340 --> 0:11:29.719 consider to embark on this journey? 0:11:32.219 --> 0:11:33.489 Yeah. OK. So 0:11:33.700 --> 0:11:36.409 great question and I, I just want to put the, 0:11:36.710 --> 0:11:38.929 so some most of you will be wondering how do 0:11:38.940 --> 0:11:41.229 I start? You know, what exactly do I do with? 0:11:41.239 --> 0:11:43.890 So what do I produce? You know what, what do 0:11:43.900 --> 0:11:46.819 I do on social media? Do I slap on my 0:11:46.830 --> 0:11:49.450 ad right, on social media and hope for the best, 0:11:49.530 --> 0:11:53.280 right? Because it it's clickable right? So far from that, 0:11:53.289 --> 0:11:55.659 uh I'm gonna put them into three buckets first is 0:11:55.669 --> 0:12:00.130 content based and a shop shop videos. Uh Kendle will 0:12:00.140 --> 0:12:01.859 spend quite a bit of time to talk about videos 0:12:01.869 --> 0:12:04.108 in a bit, but just showing you an example of 0:12:04.119 --> 0:12:06.739 what we've done uh on, on the shop. 0:12:07.479 --> 0:12:10.689 So I turn of the song. So basically, we've engaged 0:12:10.700 --> 0:12:16.369 our shopping host, our influencers to do demos and explain us. 0:12:16.549 --> 0:12:19.580 And uh this is a story actually, it's, it's definitely 0:12:19.590 --> 0:12:22.359 clickable to our E store to purchase so you can 0:12:22.369 --> 0:12:26.119 see that. And uh this is example, I asked my 0:12:26.130 --> 0:12:29.000 daughter to, you know, tell me what's what's up right 0:12:29.010 --> 0:12:30.979 on Instagram and 0:12:31.440 --> 0:12:33.500 sorry, just control them. 0:12:41.030 --> 0:12:42.359 Jeez the 0:12:42.369 --> 0:12:43.960 I think it's gone a little bit crazy. 0:12:46.270 --> 0:12:49.919 OK? So in this example on Instagram, you'll see the 0:12:49.929 --> 0:12:53.159 green bar, right? This is what I mean by sales 0:12:53.169 --> 0:12:57.640 final compression at the point of storytelling, you click on 0:12:57.929 --> 0:13:01.859 the um shop button, it brings you to a catalog 0:13:01.869 --> 0:13:04.419 and you can make a purchase immediately, right? So that 0:13:04.440 --> 0:13:08.979 you catch them at the point of inspiration and consideration. So, 0:13:08.989 --> 0:13:12.919 and this is the Tik Tok example. So again, tiktok 0:13:12.929 --> 0:13:16.099 is different in that there's a tiktok shop as well. 0:13:16.669 --> 0:13:17.839 OK. Let me just get my 0:13:18.369 --> 0:13:22.320 OK. So basically the example shows there, there there are 0:13:22.330 --> 0:13:25.989 some shopping moments that you can shop within the platform 0:13:26.000 --> 0:13:27.030 like tiktok shop 0:13:27.669 --> 0:13:30.830 and there are some shopping moments where it needs to 0:13:30.840 --> 0:13:34.729 be clicked to your eto, but it's enabled by the 0:13:34.739 --> 0:13:37.830 social commerce uh by the social media platform right? So 0:13:37.840 --> 0:13:40.169 the link actually brings you to the catalog as seen 0:13:40.179 --> 0:13:42.929 in second example and then it brings you to your 0:13:42.940 --> 0:13:43.880 product page 0:13:45.119 --> 0:13:48.530 now, other than content based, it can be experience based. OK. 0:13:48.539 --> 0:13:52.549 So this example of live commerce, right? And everything has 0:13:52.559 --> 0:13:55.440 happened as it goes as soon, there's no hardly any script, 0:13:55.450 --> 0:13:59.640 just pointers, you know, demos, explainers and boxing. So this 0:13:59.650 --> 0:14:03.069 is a Facebook example. Again, the links are clickable and 0:14:03.080 --> 0:14:04.409 you shop within the platform 0:14:05.289 --> 0:14:08.859 uh shop, meaning is enabled by the platform, right? So 0:14:08.869 --> 0:14:12.840 another example would be that experience would be virtual tryouts, right? 0:14:12.849 --> 0:14:15.390 Uh Snapchat does that very nicely. So you have a 0:14:15.400 --> 0:14:18.510 lady here trying on different handbags, right? To look at 0:14:18.520 --> 0:14:21.440 the colors, right? So basically experience, 0:14:21.520 --> 0:14:24.929 it's about making online shopping fun, right? Online shopping can 0:14:24.940 --> 0:14:27.270 be very un fun. I'm sure some of you agree, right? 0:14:27.400 --> 0:14:30.010 You go through multiple listings and all that. So this 0:14:30.020 --> 0:14:34.409 is the experience is about pulling in your consumers, you know, 0:14:34.419 --> 0:14:37.650 making the experience interesting and engaging for them. 0:14:37.969 --> 0:14:41.929 Now, the final category is network. OK? So I'm sure 0:14:41.940 --> 0:14:44.510 uh so you have bought things from group buys. Uh 0:14:44.520 --> 0:14:48.500 we buy is one that has about 3000 leaders, com 0:14:48.510 --> 0:14:52.840 community leaders and they work with suppliers to sell in bulk, right? 0:14:52.849 --> 0:14:56.989 So what this what this means is uh the community 0:14:57.000 --> 0:14:57.400 can ban 0:14:57.474 --> 0:15:01.304 together and buy things that uh that is according to 0:15:01.315 --> 0:15:04.835 their interest at a special rate. And uh this is 0:15:04.844 --> 0:15:09.784 an organized goodbye, right? And there's also secondhand marketplaces like 0:15:09.794 --> 0:15:13.844 uh Facebook marketplace, right? So the, so three buckets that 0:15:13.854 --> 0:15:18.705 you can consider, right? And um all very different execution. 0:15:19.590 --> 0:15:23.900 OK. So these are the examples now. So I'll just 0:15:23.909 --> 0:15:27.669 talk very briefly, what are the different advantages, right? And 0:15:27.679 --> 0:15:30.599 since most of you are just starting out, well, definitely 0:15:30.609 --> 0:15:34.690 uh it's about growing your audience, right? And when you 0:15:34.700 --> 0:15:38.460 collaborate with creators, uh each of them comes with a 0:15:38.469 --> 0:15:43.659 different uh reach according to their their community base, right? And, 0:15:43.929 --> 0:15:47.630 and it's great also for reaching beyond local market, we 0:15:47.640 --> 0:15:48.989 know many 0:15:49.434 --> 0:15:53.414 successful live streamers now they are uh using their reach 0:15:53.424 --> 0:15:56.804 into other markets to sell products and services as well. 0:15:56.905 --> 0:16:01.395 Uh definitely building a stronger customer relationship. I I I 0:16:01.405 --> 0:16:04.565 know of this example where the eyelash company, 0:16:04.849 --> 0:16:07.559 you know, for everyone that comments, you know, on her, 0:16:07.570 --> 0:16:10.719 so on social commerce post, she reaches out to them 0:16:10.729 --> 0:16:12.679 with a discount code, you know, one by one. When 0:16:12.690 --> 0:16:14.440 she's first starting out, I think that was a great 0:16:14.450 --> 0:16:18.239 example of how with social commerce is no longer a 0:16:18.250 --> 0:16:21.820 faceless customer, right? You can reach out to them directly. Now, 0:16:21.830 --> 0:16:24.929 insights uh I'll just share from a live streaming perspective 0:16:24.940 --> 0:16:26.989 because and do a lot of that is that when 0:16:27.000 --> 0:16:27.940 we um 0:16:28.520 --> 0:16:30.789 do live streaming, right, we do look at the stats 0:16:30.799 --> 0:16:33.750 real time and it's really helpful because you can see 0:16:33.760 --> 0:16:36.390 where the peaks are you at which point do people 0:16:36.400 --> 0:16:39.150 drop off? At which point do people buy? And then 0:16:39.159 --> 0:16:42.849 you um you, you, you tailor your content according to 0:16:42.859 --> 0:16:45.469 the reactions from the, from the customers, right? 0:16:45.859 --> 0:16:49.020 Um And frequently when we see that the the sales 0:16:49.030 --> 0:16:51.799 is not moving, we do things like, hey, you know, 0:16:51.909 --> 0:16:55.770 stocks are limited, you know, it is going, is going 0:16:55.780 --> 0:16:57.590 if you, you need to grab it before it is 0:16:57.599 --> 0:17:00.440 gone and you can see the instant reaction. So it's 0:17:00.450 --> 0:17:03.159 very instant feedback that we get. And of course, with 0:17:03.169 --> 0:17:07.040 the data, you can do personalization and targeting and finally, 0:17:07.050 --> 0:17:08.859 for better conversions. Um 0:17:09.640 --> 0:17:12.929 definitely, I I'm sure everyone heard of how uh in 0:17:12.939 --> 0:17:16.359 China uh the kind of live streaming success they have 0:17:16.369 --> 0:17:19.349 is kind of nuts, right? For, for them, I um 0:17:19.359 --> 0:17:23.359 live streaming conversion can be up to 30%. We've heard 0:17:23.369 --> 0:17:26.609 of how uh they've sold things in one day more 0:17:26.619 --> 0:17:29.079 than you know, what Amazon can do in a uh 0:17:29.089 --> 0:17:33.169 in a month combined for just two influences. So definitely 0:17:33.180 --> 0:17:38.469 better convergence uh getting the insights and growing and engaging audience. 0:17:38.959 --> 0:17:41.409 OK. So um with that, 0:17:42.050 --> 0:17:42.579 OK, 0:17:44.599 --> 0:17:47.140 I just wanna share a little bit about what we 0:17:47.150 --> 0:17:51.339 are doing on uh social commerce. So earlier, I explained 0:17:51.349 --> 0:17:55.069 that it could be enabled by social commerce or um 0:17:55.079 --> 0:17:57.770 within the social commerce platform. So this is the example 0:17:57.780 --> 0:18:02.188 where we have actually enabled our own platform with social 0:18:02.199 --> 0:18:05.579 commerce capabilities right. You see here, what we have done is, 0:18:05.869 --> 0:18:08.680 is a live streaming experience. And 0:18:09.520 --> 0:18:12.449 on me, watch me watch is our O TT platform. 0:18:12.560 --> 0:18:15.920 And at the bottom, there are all these engagement buttons 0:18:16.160 --> 0:18:18.829 that we can trigger for uh 0:18:19.680 --> 0:18:21.669 that you can, you can like you can command, you 0:18:21.680 --> 0:18:23.959 can share it. And then when you trigger button, you 0:18:23.969 --> 0:18:27.250 actually can look at all the various products and services 0:18:27.319 --> 0:18:28.170 you can buy 0:18:28.859 --> 0:18:31.149 instantly, right? You don't have to go to, you know, 0:18:31.160 --> 0:18:33.790 so many different browsers. So you can do it in 0:18:33.819 --> 0:18:37.879 app and uh uh uh in web experience as well. OK. 0:18:37.890 --> 0:18:39.989 So this is our live streaming um 0:18:41.359 --> 0:18:44.650 IP cop on shop now, uh I'll share also very 0:18:44.660 --> 0:18:47.859 quickly some of the key learnings from live commerce that 0:18:47.869 --> 0:18:51.000 we done in. So uh earlier, I shared one of 0:18:51.010 --> 0:18:54.869 the advantages of social commerce is reaching a different target 0:18:54.880 --> 0:18:57.379 audience or spending in the target base. So uh to 0:18:57.390 --> 0:19:00.719 give some background, actually, I'm involved in home shopping business 0:19:00.729 --> 0:19:05.510 as the first business when uh we started off in 2019. Now, 0:19:05.520 --> 0:19:05.829 um 0:19:06.380 --> 0:19:12.229 home shopping audience uh was of a certain age demographic, right? 0:19:12.239 --> 0:19:14.939 So they tend to be about 50 and above. So 0:19:14.949 --> 0:19:18.109 we say how do we reach the 35 to 49 0:19:18.119 --> 0:19:21.180 for example. So we went to live commerce and uh 0:19:21.189 --> 0:19:25.708 we've seen the results where by going to uh live commerce, 0:19:25.719 --> 0:19:27.469 we actually see my car right on me, watch as 0:19:27.479 --> 0:19:31.170 well as Facebook and the audience is actually younger compared 0:19:31.180 --> 0:19:33.040 to the home shopping business. So I'm I'm making a 0:19:33.050 --> 0:19:33.770 point that, 0:19:34.359 --> 0:19:37.770 you know, because social commerce, we have five million users 0:19:37.780 --> 0:19:41.459 in Singapore, right? Your influencers targeting different target audience work 0:19:41.469 --> 0:19:44.640 with them, you know, find your audience, right? The second 0:19:44.650 --> 0:19:48.050 bit is about engagement. So I share about advantages of 0:19:48.060 --> 0:19:52.469 having that close relationship with your customers through social commerce, 0:19:52.479 --> 0:19:56.170 uh through engagement tools, like polls, comments like and share. 0:19:56.180 --> 0:19:59.010 We have seen engagement rate of 35% 0:19:59.280 --> 0:19:59.770 right? 0:20:00.219 --> 0:20:03.260 Which is crazy, right? Compared to uh what you see 0:20:03.270 --> 0:20:06.609 on most social media platforms. And also what's interesting is 0:20:06.619 --> 0:20:09.589 the high time spent on this content? OK. So I 0:20:09.599 --> 0:20:11.909 just want to pause for a minute to explain why 0:20:11.920 --> 0:20:13.910 the time spent at 19 minutes. 0:20:14.560 --> 0:20:16.369 You, you think about it actually is an app, a 0:20:16.380 --> 0:20:20.040 live commerce, right? You're, you're talking about products and services. 0:20:20.050 --> 0:20:23.329 It's actually a very long advertisement. But why is the 0:20:23.339 --> 0:20:26.619 time spent so so huge at 19 minutes is because 0:20:26.630 --> 0:20:30.400 as the name implies that it's not just about stuffing 0:20:30.410 --> 0:20:32.919 the product attributes down the truth, but it's sharing the 0:20:32.930 --> 0:20:36.180 brand attribute, sharing how you can use it, you know 0:20:36.189 --> 0:20:38.310 how you can enrich your life, right? So it's a 0:20:38.319 --> 0:20:41.159 form of what we call shop attainment that really engages 0:20:41.170 --> 0:20:43.839 the audience. OK. Um 0:20:44.439 --> 0:20:47.319 So Suzie, I, I'm hearing a lot of things I'm hearing, 0:20:47.400 --> 0:20:51.189 you need to tailor your strategy on social commerce according 0:20:51.199 --> 0:20:53.719 to your audience, because it could be very different based 0:20:53.729 --> 0:20:58.199 on different demographics as well. Right, I'm hearing um the 0:20:58.209 --> 0:21:02.329 need to build urgency with customers in terms of the 0:21:02.339 --> 0:21:04.369 deals that you have on the table as well. 0:21:04.630 --> 0:21:07.448 Um And obviously the need to, to make sure that 0:21:07.459 --> 0:21:12.369 that content is engaging and not just driving lower final conversion. 0:21:12.380 --> 0:21:15.390 So I, I think that's been very clear. I might 0:21:15.400 --> 0:21:18.438 just stop because we have a few questions coming in. 0:21:18.660 --> 0:21:21.040 Um And I might just ask you this question that 0:21:21.050 --> 0:21:23.770 came in from the panel and, and Kenneth feel free 0:21:23.780 --> 0:21:25.639 to jump in as well if you have something to say. 0:21:25.650 --> 0:21:25.949 But 0:21:26.310 --> 0:21:28.859 the question came and it said any advice on how 0:21:28.869 --> 0:21:33.698 we differentiate ourselves from competitors that are already on social 0:21:33.709 --> 0:21:35.119 commerce platforms, 0:21:38.280 --> 0:21:40.410 differentiate from competitors? Hm 0:21:43.290 --> 0:21:45.489 OK. So um 0:21:47.400 --> 0:21:52.489 at the heart of social commerce is the ification of products. 0:21:52.500 --> 0:21:56.010 Like how do you Storify your products? Right? And we 0:21:56.020 --> 0:21:59.229 see on social media, uh a lot of demos like, 0:21:59.239 --> 0:22:01.609 you know, I use this, this is what happened, you know, it, 0:22:01.619 --> 0:22:03.650 it kind of became a template and I agree that 0:22:03.660 --> 0:22:07.609 sometimes it's hard to stand up from the clutter, right? 0:22:08.130 --> 0:22:11.310 So I, I encourage you to be really creative because 0:22:11.319 --> 0:22:15.410 on social media, there's really not much rules, you know, 0:22:15.420 --> 0:22:19.260 and uh I've seen like live streaming, you know, some 0:22:19.270 --> 0:22:21.500 people do it very differently. I, I recently saw a 0:22:21.510 --> 0:22:25.000 live stream they unbox their luxury good and they throw 0:22:25.010 --> 0:22:28.410 it like very dramatically, right? It's just for dramatic effect 0:22:28.420 --> 0:22:30.859 and I thought, you know, it caught my attention, right? 0:22:30.959 --> 0:22:35.540 So I'll encourage you whether it's live streaming or social post, 0:22:35.550 --> 0:22:37.900 don't seek perfection, right? 0:22:38.199 --> 0:22:40.640 Just do it, just start somewhere because at the end 0:22:40.650 --> 0:22:43.188 of the day, your brand story, right? You you you're 0:22:43.199 --> 0:22:46.949 confident of your products and services, you can uh you 0:22:46.959 --> 0:22:50.569 can work with different influencers, you can work with internal 0:22:50.579 --> 0:22:54.319 brand advocates, right? It doesn't always have to be engaging influencers, 0:22:54.329 --> 0:22:56.550 for example. So, so what I'm trying to say is 0:22:56.560 --> 0:23:00.890 that be creative about it for, for us, uh you know, 0:23:01.290 --> 0:23:04.150 that, that seems to be a template for live streaming 0:23:04.160 --> 0:23:07.160 out there. So we ask ourselves to really follow exactly 0:23:07.170 --> 0:23:09.959 what they're doing, right? We we, we don't have to. 0:23:09.969 --> 0:23:12.400 So the beauty of live streaming is it gives you 0:23:12.410 --> 0:23:15.569 instant data, you can try something this week, try something 0:23:15.579 --> 0:23:18.349 next week and see what it takes, which, which caters 0:23:18.359 --> 0:23:18.839 to your audience. 0:23:18.910 --> 0:23:24.099 Yeah. Hm. Interesting. So, experimentation, I guess consistency in terms 0:23:24.109 --> 0:23:27.719 of making sure that you're continually trying new things. Um 0:23:27.729 --> 0:23:29.939 And the other one that you mentioned was really, I 0:23:29.949 --> 0:23:32.829 think you drove, drove home the idea of stor application 0:23:32.849 --> 0:23:34.958 and how important that was for the brand. So that's 0:23:34.969 --> 0:23:36.109 very interesting. 0:23:37.209 --> 0:23:40.239 Yes, I'm gonna jump in a bit as well, reinforcing 0:23:40.250 --> 0:23:44.489 Susie's point on the brand story. I would actually look 0:23:44.500 --> 0:23:47.718 at boiling down your brand and the product. The first principles. 0:23:47.729 --> 0:23:51.829 Looking at what kind of essence is your brand story complicated? 0:23:51.839 --> 0:23:55.640 For example, if you are marketing a tea product, right, 0:23:55.650 --> 0:24:00.020 selling English breakfast tea or selling a Wellness product, you 0:24:00.030 --> 0:24:02.250 don't want to look at tea lovers, you want to 0:24:02.260 --> 0:24:03.959 look at the beneficiaries, 0:24:04.520 --> 0:24:07.270 uh the people who drink your time, for example, in 0:24:07.280 --> 0:24:09.889 the wellness space, they might be influencers who are really 0:24:09.900 --> 0:24:14.640 much really very much focused on increasing their mental capacity 0:24:14.770 --> 0:24:17.669 in terms of awareness. In terms of uh mental shortness, 0:24:17.689 --> 0:24:20.910 there might be people who engage in activities that are 0:24:20.920 --> 0:24:24.459 very similar mobile, right? So you really kind of target 0:24:24.469 --> 0:24:29.179 this and aim to forge a very strong following there. 0:24:29.609 --> 0:24:32.899 It might be just 100 100 advocates and no, it 0:24:32.910 --> 0:24:34.109 doesn't matter because this 0:24:34.469 --> 0:24:37.800 this first advocates and this person will spread the message 0:24:37.810 --> 0:24:40.560 across the group and it's so much easier to catch 0:24:40.589 --> 0:24:44.260 by such targeted news, right? So in a sense, boil 0:24:44.270 --> 0:24:46.699 it down the first principles. What does your brand communicate? 0:24:46.859 --> 0:24:49.040 Who do they speak to? And don't look at the 0:24:49.050 --> 0:24:53.819 the general category three levels, cutlery levels doesn't matter. We're 0:24:53.829 --> 0:24:57.020 not going to stand up from such a and go 0:24:57.030 --> 0:24:59.560 deep and go first and go public. 0:25:00.890 --> 0:25:04.419 Hm, that's a great point. So in terms of, you know, 0:25:04.430 --> 0:25:07.619 not needing to worry about reaching the masses or millions, 0:25:07.630 --> 0:25:11.319 but really focusing on the quality of your audience. Yeah, 0:25:11.750 --> 0:25:13.780 great Mo moving on, Suzie. 0:25:14.869 --> 0:25:16.020 So um 0:25:16.969 --> 0:25:17.979 I mentioned 0:25:18.810 --> 0:25:22.180 how we started off with the home shopping as a business, right? 0:25:22.189 --> 0:25:25.739 As a media first entrance into content, commerce with the 0:25:25.750 --> 0:25:30.689 home shopping business. And uh very quickly, we realized that, 0:25:30.880 --> 0:25:31.459 you know, 0:25:32.540 --> 0:25:36.770 a stor of products is so important because um we, 0:25:36.780 --> 0:25:39.189 we did a revamp of the, of the content for 0:25:39.199 --> 0:25:41.930 home shopping, right? And we took over from our partner 0:25:41.939 --> 0:25:45.589 and we we because previous version was done in Malaysia 0:25:45.599 --> 0:25:47.609 and it wasn't repurposed for the local market. 0:25:47.920 --> 0:25:51.030 So we put in our media called Special Sauce on it, right? 0:25:51.040 --> 0:25:54.569 We put in our celebrities, we put in uh our 0:25:54.699 --> 0:25:59.649 content in production infrastructure, right? And then we, we just 0:25:59.660 --> 0:26:02.849 pivoted to uh a format that really sticks with the audience. 0:26:02.859 --> 0:26:05.349 So with that, we realized that storytelling is so 0:26:05.435 --> 0:26:08.875 important and then went to live streaming, right? Live streaming 0:26:08.885 --> 0:26:11.035 is a little bit different from home shopping in that 0:26:11.045 --> 0:26:15.484 it's very instantaneous, it's life, right? And like what uh is, 0:26:15.494 --> 0:26:20.104 is really under communicating, communicating your brand attributes and product 0:26:20.114 --> 0:26:22.785 attributes and very important is uh 0:26:23.260 --> 0:26:26.969 always tell the customers what is the problem you're trying 0:26:26.979 --> 0:26:29.900 to solve in their life, right? When, when you approach, 0:26:29.910 --> 0:26:32.109 you don't start going on, you know how wonderful your 0:26:32.119 --> 0:26:34.560 product is, is they really addressing the problem that you're 0:26:34.569 --> 0:26:37.750 trying to fix in our life, right? So that's shopping inspiration. 0:26:37.810 --> 0:26:39.839 So OK, let me quickly just take you through. So 0:26:39.849 --> 0:26:42.170 for us, we see more cars on new watch as 0:26:42.180 --> 0:26:45.159 well as Facebook. But then we ask ourselves, how do 0:26:45.170 --> 0:26:48.910 we maximize the content? Right. So we actually look at 0:26:48.920 --> 0:26:52.629 beyond live stream. What we have done is we have 0:26:52.640 --> 0:26:52.650 uh 0:26:53.020 --> 0:26:58.349 edited the, the, the live streams into uh social commerce shorts, 0:26:58.359 --> 0:27:02.688 short videos that are clip shop, right? That's one, of course, 0:27:02.699 --> 0:27:05.969 we cannot forget F T A, right? So in this case, 0:27:05.979 --> 0:27:09.060 we've edited and we've put it on air as in 0:27:09.069 --> 0:27:13.319 our TV channels and put a scannable code there, right? 0:27:13.329 --> 0:27:15.699 A QR code and it's worked really well. People are 0:27:15.709 --> 0:27:18.859 actually scanning the TV screen. Thanks to, you know, what 0:27:18.869 --> 0:27:20.489 we went through with trace together, right? 0:27:20.839 --> 0:27:24.089 Uh E newsletter and well as well as shop article. 0:27:24.329 --> 0:27:28.708 So really uh it's not just about live stream. So 0:27:28.719 --> 0:27:30.869 I encourage all of you where you say, oh you know, just, 0:27:30.880 --> 0:27:33.050 just put everything in livestream, think about what you can 0:27:33.060 --> 0:27:35.750 do with the content, the storytelling that you have already 0:27:35.760 --> 0:27:39.750 done on live stream and how it expands uh across 0:27:39.760 --> 0:27:43.050 uh content formats. And in terms of the on channel 0:27:43.060 --> 0:27:46.130 sales approach, uh don't forget that other than driving to 0:27:46.140 --> 0:27:48.589 your own E store, your product pages 0:27:48.969 --> 0:27:53.290 uh that there's also the network based uh uh social 0:27:53.300 --> 0:27:56.599 commerce that I've mentioned. So we do group buys. And 0:27:56.609 --> 0:27:59.579 what's interesting is the people buying, group buys are actually 0:27:59.699 --> 0:28:03.069 the the products that didn't quite work sometimes right through 0:28:03.079 --> 0:28:05.239 live stream actually work on group buy very well. So 0:28:05.250 --> 0:28:07.179 it's just different audience as well. 0:28:07.459 --> 0:28:11.599 OK. So just, just, just to rehash that. So I'm 0:28:11.609 --> 0:28:15.839 understanding correctly, you're saying that brands that wanna do social commerce, 0:28:16.069 --> 0:28:19.069 they can basically do their live streaming and they can 0:28:19.079 --> 0:28:22.349 recreate the content, cut it up in different ways, make 0:28:22.359 --> 0:28:25.349 sure that it goes on, you know, television o tt 0:28:25.359 --> 0:28:29.160 different platforms extend the life of that content beyond the, 0:28:29.170 --> 0:28:30.550 the live stream itself. 0:28:30.910 --> 0:28:34.290 Yes. Exactly. Right. So, so in that sense, I guess 0:28:34.300 --> 0:28:36.859 it would also be saving money on content production because 0:28:36.869 --> 0:28:39.459 they can just take one piece and carve it across 0:28:39.469 --> 0:28:41.000 many different platforms as well. 0:28:41.819 --> 0:28:46.140 Yeah, exactly. Uh So that's, that's something for all of 0:28:46.150 --> 0:28:49.180 us to think about. And uh I would advise and 0:28:49.189 --> 0:28:52.800 encourage everyone at the point of producing a live stream, 0:28:52.810 --> 0:28:55.729 start thinking of the other funnels, right? And then you 0:28:55.739 --> 0:28:59.189 preplan your uh live streaming production in a way that 0:28:59.199 --> 0:29:01.260 you know, OK, you, that's the end point you want 0:29:01.270 --> 0:29:03.689 to get, for example, you need a short video and 0:29:03.699 --> 0:29:06.750 you need close up shots. So ahead of time during 0:29:06.760 --> 0:29:09.060 the live streaming, you plan it so that at the 0:29:09.069 --> 0:29:11.449 end you have those shots to actually edit, 0:29:11.699 --> 0:29:14.750 right? So plan with the any. Yeah, interesting. 0:29:15.420 --> 0:29:19.339 And anything to add to that canon. Yeah. So really 0:29:19.349 --> 0:29:23.979 very focused on uh what Susie mentioned about maximizing, amplifying 0:29:23.989 --> 0:29:26.829 your a single piece of content livestream commerce. Is great 0:29:26.839 --> 0:29:29.109 for doing that. Right? Because you have many, many moments 0:29:29.119 --> 0:29:31.790 that you can save them and we've seen our customers, 0:29:31.800 --> 0:29:34.630 which I'll talk about much more later. We're very successful 0:29:34.640 --> 0:29:37.140 in producing a single live stream. And then, you know, 0:29:37.150 --> 0:29:39.530 really reaching out to a lot of people who didn't 0:29:39.540 --> 0:29:40.689 manage to catch a live stream 0:29:41.130 --> 0:29:44.449 after that. Right. A lot of conversions, right? 50% we 0:29:44.459 --> 0:29:48.920 have actually recorded almost 50% of engagement and conversions come 0:29:48.930 --> 0:29:51.439 after the live stream. So don't think that you know, 0:29:51.449 --> 0:29:54.109 a single live stream is young, you know, uh if 0:29:54.119 --> 0:29:57.359 it succeeds, you are successful, it feels you it doesn't 0:29:57.630 --> 0:30:00.969 mean that a single content can be make or break, right? 0:30:00.979 --> 0:30:03.670 Make sure that we require. I think that's uh 11 0:30:03.760 --> 0:30:03.880 kind of, 0:30:08.089 --> 0:30:11.290 all right. So lay if you have no other questions, 0:30:11.300 --> 0:30:15.530 can I move on to the the awesome, so kind 0:30:15.540 --> 0:30:19.560 of kind of really focus on video, right? And I 0:30:19.569 --> 0:30:22.469 want to explain a bit more why video for social 0:30:22.479 --> 0:30:25.000 promise is the future and we think it is the 0:30:25.010 --> 0:30:26.770 present as well, right? 0:30:29.189 --> 0:30:33.479 OK. Very quickly talking a bit about we are a 0:30:33.489 --> 0:30:36.819 video solutions provider that has been fortunate enough to work 0:30:36.829 --> 0:30:40.800 with some of the largest brands and platforms in the world, right? 0:30:41.310 --> 0:30:44.160 We have worked with our brands like video, of course 0:30:44.349 --> 0:30:48.079 Grab uh in Indonesia, which is the which is the 0:30:48.089 --> 0:30:51.599 largest social commerce platform in Indonesia. We have got 70 0:30:51.609 --> 0:30:57.040 million users in Japan, which has 100 million users and 0:30:57.050 --> 0:30:57.959 even in Africa 0:30:59.000 --> 0:31:03.030 and the largest e-commerce platforms in the African group to 0:31:03.040 --> 0:31:07.770 broadcast live video and shop, shop videos with their audience. Yeah. 0:31:09.380 --> 0:31:12.699 And you know, this has really hit me quite a 0:31:12.709 --> 0:31:15.030 bit right. The way we interact, even the way we're 0:31:15.040 --> 0:31:18.770 communicating right now is no longer the same we four 0:31:18.780 --> 0:31:20.939 years ago, no one would have thought that we would 0:31:20.949 --> 0:31:23.579 have 60 people in the webinar. But everybody will think 0:31:23.589 --> 0:31:26.829 that this will be done offline and purely offline. But 0:31:26.839 --> 0:31:29.359 the truth is the way we interact has changed for 0:31:30.709 --> 0:31:35.150 and the world now is a swappable media generation, right? 0:31:35.160 --> 0:31:37.979 When I talk about swappable media, I talk about tiktok 0:31:37.989 --> 0:31:40.560 but not only tiktok, I talk about Facebook views, I 0:31:40.569 --> 0:31:43.439 talk about Instagram views and shots. I talk about youtube 0:31:43.449 --> 0:31:46.479 shots and I talk about even Netflix in America has 0:31:46.489 --> 0:31:50.339 released their own short video section, right? So everybody is 0:31:50.349 --> 0:31:53.859 obsessed about consuming video and this is really, 0:31:54.150 --> 0:31:57.770 you know, uh enhanced by the statistic that 82% of 0:31:57.780 --> 0:32:02.520 internet usage last year, 82% are staggering, 82% were spent 0:32:02.530 --> 0:32:05.349 online videos. This was still something you need to do, 0:32:05.849 --> 0:32:06.760 right on top of you. 0:32:09.180 --> 0:32:12.489 If you talk about video being the primary mode of communication, 0:32:13.099 --> 0:32:16.119 you would then have to talk about video first commerce, right? 0:32:16.130 --> 0:32:22.859 Which is what Susie, you know, very previous but kind 0:32:22.869 --> 0:32:25.680 of zoom in a little bit on to what the 0:32:25.689 --> 0:32:30.479 future perhaps can hold for video first commerce in China, right? 0:32:30.489 --> 0:32:34.359 470 billion last year was student life shopping sales to 0:32:34.369 --> 0:32:37.290 give you a bit of a you know, benchmark on grounding, right? 0:32:37.810 --> 0:32:41.250 Life promise in China makes up about 30% of total 0:32:41.260 --> 0:32:44.420 GMB e-commerce, GMB in China. Whereas for the rest of 0:32:44.430 --> 0:32:47.760 the world, it's a mere 1 to 2%. So there's 0:32:47.770 --> 0:32:50.719 a lot of room to grow. And the people who 0:32:50.729 --> 0:32:52.910 on this webinar, I think all of you are top 0:32:52.939 --> 0:32:58.209 leaders in attendance, webinar would be kind of spark that 0:32:58.219 --> 0:33:01.060 life promise might be something that you are investing in 0:33:01.069 --> 0:33:01.800 the future. And I 0:33:02.390 --> 0:33:05.300 would wholeheartedly encourage you to buy your deep into this 0:33:05.410 --> 0:33:09.209 because we think that life form can potentially contribute even 10% 0:33:09.310 --> 0:33:12.280 in every single country that is a huge amount. And 0:33:12.290 --> 0:33:14.699 if you are first over here, you know, this is 0:33:14.709 --> 0:33:16.920 you're gonna build guard rails and moats that are very 0:33:16.930 --> 0:33:19.280 difficult for comp to cross. Yeah. 0:33:21.750 --> 0:33:24.050 All right. Talking a bit about the macro, right? Zooming 0:33:24.060 --> 0:33:24.449 out a bit. 0:33:25.079 --> 0:33:28.829 If you look at the timelines for from 20 to 2011, 0:33:28.839 --> 0:33:31.180 all the way to 2022 you look, you see many 0:33:31.189 --> 0:33:37.589 large platforms like Twitch Taobao, Facebook, Zara Shopping Amazon introducing 0:33:37.599 --> 0:33:41.959 their proprietary live commerce streaming solutions and tapping on the 0:33:41.969 --> 0:33:45.369 live coms to drive sales and convergence engagement. I want 0:33:45.380 --> 0:33:50.819 to bring your attention to two outliers here. And to me, obviously, 0:33:50.829 --> 0:33:54.390 the they are huge, the video space off line 0:33:55.319 --> 0:33:58.099 what they're doing this year and beyond, they are really 0:33:58.109 --> 0:33:59.939 diving deep in the right form that all of us 0:33:59.949 --> 0:34:03.699 here and doubling down on the fact that this generation 0:34:03.709 --> 0:34:06.939 is video first media and they want to bring this 0:34:06.949 --> 0:34:10.489 audience to uh to focus on their brands as well. 0:34:10.610 --> 0:34:13.689 So beyond this year, we see many more other brands 0:34:13.699 --> 0:34:18.179 not necessarily owning platforms, adopting directed commerce strategies, video first 0:34:18.189 --> 0:34:19.280 commerce strategies, 0:34:20.479 --> 0:34:23.330 Kenneth, I might just jump in here because it's a 0:34:23.340 --> 0:34:26.850 very interesting scale that you just shared in terms of, 0:34:26.860 --> 0:34:31.050 you know, looking at the behemoths of tiktok twitch, you know, 0:34:31.060 --> 0:34:34.850 all the brands that are obviously utilizing social commerce in 0:34:34.860 --> 0:34:35.629 a big way. 0:34:35.870 --> 0:34:38.149 Um You might be getting into this in, in your 0:34:38.159 --> 0:34:40.639 latest slides, but I think there's a few questions in 0:34:40.649 --> 0:34:44.360 the chat in terms of social commerce and how it 0:34:44.370 --> 0:34:48.750 reaches audience directly through these channels and social platforms. But 0:34:48.760 --> 0:34:52.158 how does this impact the collection of data and info? 0:34:52.169 --> 0:34:52.520 And 0:34:52.715 --> 0:34:55.165 I think this goes back to my initial question in 0:34:55.175 --> 0:34:58.334 the intro about the power of first party data if 0:34:58.344 --> 0:35:02.024 we continue to feed these these beasts and we're not 0:35:02.034 --> 0:35:04.284 getting that first party, how can we ensure that we're 0:35:04.294 --> 0:35:07.995 having that relationship, longevity with our customers as well and 0:35:08.004 --> 0:35:09.504 being able to utilize that 0:35:10.120 --> 0:35:11.810 a great question. The 0:35:12.600 --> 0:35:15.600 so look, we don't intend to go head to head 0:35:15.629 --> 0:35:17.939 against the behemoths. What we want to do is leverage 0:35:17.949 --> 0:35:20.810 on the group trends, but yet have a funnel to 0:35:20.820 --> 0:35:24.219 slowly collect first party data. So to give you an example, 0:35:24.669 --> 0:35:26.879 I'll probably give you an example of a successful use 0:35:26.889 --> 0:35:30.659 case first. And then what are the cons of just 0:35:30.669 --> 0:35:33.500 relying on the social media platform like tiktok? Right? So 0:35:33.510 --> 0:35:36.290 of course, all of our customers in Turkey, a brand 0:35:36.300 --> 0:35:40.120 in Turkey, they actually consistently did some of cast live 0:35:40.129 --> 0:35:42.030 streams on Facebook on Instagram 0:35:42.370 --> 0:35:45.178 and their own website, right? They did it, they did 0:35:45.189 --> 0:35:47.620 it over the span of one year. And the intention 0:35:47.629 --> 0:35:51.000 there was to migrate the Facebook live viewers and Instagram 0:35:51.010 --> 0:35:54.658 live viewers slowly but surely to their own website. And 0:35:54.669 --> 0:35:57.479 they have succeeded. They've done this phenomenally. Well, they've uh 0:35:58.040 --> 0:36:01.729 actually migrated close to 70% of their viewers to their 0:36:01.739 --> 0:36:03.520 own website and collected 0:36:03.929 --> 0:36:07.229 first party data which means they know what their names are. 0:36:07.239 --> 0:36:10.500 They know perhaps their credit card details, sorry, maybe not that, 0:36:10.510 --> 0:36:13.830 but they know exactly which transactions happen at which part 0:36:13.840 --> 0:36:15.989 of point and whether it's through a credit card or 0:36:16.000 --> 0:36:19.100 whether it's through a traditional source of a payment 0:36:19.340 --> 0:36:21.979 and additionally as well, they know exactly how to target 0:36:21.989 --> 0:36:26.259 them with addresses. This is very incredibly powerful, right? So 0:36:26.270 --> 0:36:29.830 that's a success case. What is maybe I'm just going 0:36:29.840 --> 0:36:32.000 to finish up with the detriment of purely having your 0:36:32.010 --> 0:36:34.250 brand on tiktok or Facebook or Instagram. 0:36:34.979 --> 0:36:38.500 But if you are selling, let's say a shoe, right? 0:36:38.760 --> 0:36:42.609 Uh they're selling a shoe and you advertise on tiktok or, 0:36:42.620 --> 0:36:44.389 you know, a really great ad on the shoe and 0:36:44.399 --> 0:36:48.189 someone taps on the commercial advertisement and they purchase 0:36:48.790 --> 0:36:51.178 the next moment when they strike the next video or 0:36:51.189 --> 0:36:54.050 the next three or four videos, they will see an 0:36:54.060 --> 0:36:58.299 advertisement for your competitors product, another issue, right? So, I mean, 0:36:58.310 --> 0:37:00.560 you can't blame the platforms, right? And really they want 0:37:00.570 --> 0:37:04.209 to incentivize viewership and conversions, but that's what you get, 0:37:04.429 --> 0:37:07.399 you will enter people fun of spending more and more 0:37:07.409 --> 0:37:08.739 money to stand out. 0:37:10.600 --> 0:37:14.020 Interesting. So I guess it's important for brands to think 0:37:14.030 --> 0:37:16.969 about how they can, like you mentioned, diversify and not 0:37:16.979 --> 0:37:20.810 be overly reliant on on one player to be working 0:37:20.820 --> 0:37:24.279 on their own strategy. Does that include in like incorporating 0:37:24.290 --> 0:37:27.428 macro K O L s to perhaps drive their their 0:37:27.439 --> 0:37:31.379 own live streams to, I guess, create shortcuts to build 0:37:31.389 --> 0:37:32.590 those audiences? 0:37:33.500 --> 0:37:35.830 I'm sorry, could you repeat that again? I just meant 0:37:35.840 --> 0:37:39.090 um if, if for example, like you mentioned um the 0:37:39.100 --> 0:37:41.830 the client that was looking to do their own live streams, 0:37:41.929 --> 0:37:45.239 you suggest that they incorporate, you know, macro K O 0:37:45.250 --> 0:37:47.300 L s big K O L s to head up 0:37:47.310 --> 0:37:50.530 those live streams to help bring in those audiences faster. 0:37:51.199 --> 0:37:53.479 No, not really. I will see those as a one 0:37:53.489 --> 0:37:57.330 off and I would be really, I will really keep 0:37:57.340 --> 0:38:00.409 in mind that uh a macro influencer, youtube or Instagram 0:38:00.419 --> 0:38:04.870 might not be the best and best. In fact, most 0:38:04.879 --> 0:38:07.989 of our success, our customer success case have been with 0:38:08.000 --> 0:38:13.520 micro influencers and sometimes even some of their staff for employees, right? 0:38:13.530 --> 0:38:13.899 So we 0:38:14.699 --> 0:38:19.360 um really a successful business in China, even where large 0:38:19.370 --> 0:38:23.209 cosmetic brands turn to their over the comp sales stock 0:38:23.419 --> 0:38:26.939 to do live streams, to demonstrate their cosmetics. And they 0:38:26.949 --> 0:38:29.850 really have seen great success and they are starts and 0:38:29.860 --> 0:38:30.889 employees become 0:38:31.209 --> 0:38:35.399 many ambassadors and K O L so you can start small. 0:38:35.489 --> 0:38:39.250 You don't spend the whole time. Yeah. And 0:38:39.260 --> 0:38:42.689 if I may join one of our more more successful 0:38:42.699 --> 0:38:46.060 live stream, we invited the founder of the, the bra 0:38:46.090 --> 0:38:46.310 that we 0:38:46.439 --> 0:38:49.290 selling, right? It's a very millennial brand and she came 0:38:49.300 --> 0:38:52.370 and she explained the product so well. You know, she 0:38:52.379 --> 0:38:54.149 was able to demo it so well because she's so 0:38:54.159 --> 0:38:56.770 passionate about it and it actually drove a lot of sales, 0:38:56.780 --> 0:38:59.029 but it's just her being brave enough to put herself 0:38:59.040 --> 0:39:00.219 out there, right? 0:39:00.229 --> 0:39:01.209 Something to think about. 0:39:04.129 --> 0:39:08.899 Thanks Suzie. Sorry Ken. I, you, you wanna continue? Ok, thanks. 0:39:08.909 --> 0:39:10.739 All great questions guys. Please keep them coming. 0:39:12.500 --> 0:39:15.090 All right. So here you go. I mean first party data, 0:39:15.100 --> 0:39:17.409 we spoken so much about it, right? But I'm gonna 0:39:17.419 --> 0:39:21.530 talk about what you know, this opportunity is direct to consumer. 0:39:21.540 --> 0:39:23.549 It's a big, big, big thing in the, in the 0:39:23.560 --> 0:39:26.839 US and in India, in Southeast Asia. We reliant, we 0:39:26.850 --> 0:39:29.779 are relying on the large e-commerce platforms, nothing wrong about it. 0:39:30.030 --> 0:39:33.149 But we do see, you know, a monopoly player like 0:39:33.159 --> 0:39:36.929 the Amazon player. And then um you know, 0:39:37.389 --> 0:39:39.819 so you're like, hopefully, hopefully, like you, like you come 0:39:39.830 --> 0:39:44.290 in and democratize, democratize the ability to collect data, democratize 0:39:44.300 --> 0:39:47.040 the ability to broadcast video and have viewership on your, 0:39:47.050 --> 0:39:49.500 on your own websites and apps, right? So that's all. 0:39:51.679 --> 0:39:55.090 So moving on, if we're talking a bit about, you know, 0:39:55.100 --> 0:39:56.010 if a business 0:39:56.719 --> 0:39:59.610 as video marketing strategies, which I think many of them 0:39:59.620 --> 0:40:04.129 do I remember due to the right, we are reliant 0:40:04.139 --> 0:40:08.919 on these platforms, right? Depending on where you and as 0:40:08.929 --> 0:40:11.929 you mentioned correctly and all this as well, right? You 0:40:11.939 --> 0:40:15.080 will lose the ownership, you might potentially lose margins as 0:40:15.090 --> 0:40:18.080 well depending on where you end up selling to, importantly, 0:40:18.090 --> 0:40:21.159 you lose customer loyalty, right? Use your customers will see 0:40:21.169 --> 0:40:24.669 multiple of the competitors in a single section of browsing 0:40:25.149 --> 0:40:28.689 and it's really difficult to build it yourself, right? Because 0:40:28.699 --> 0:40:31.750 uh you know, I don't think it's a very easy 0:40:31.760 --> 0:40:34.819 thing to build a whole live streaming platform. So, so 0:40:34.830 --> 0:40:37.669 that's why the life comes in, right? A couple of 0:40:37.679 --> 0:40:40.449 use cases that are going to show with us on 0:40:40.459 --> 0:40:44.800 the left is the um marketplace, the largest marketplace in 0:40:44.810 --> 0:40:48.589 Turkey Chen, there are 40 million money users. What you 0:40:48.600 --> 0:40:50.459 see on the left is a live stream 0:40:50.739 --> 0:40:53.959 and very much like what Susie has demonstrated that they 0:40:53.969 --> 0:40:56.439 have actually cut up the live streams in short videos 0:40:56.449 --> 0:40:59.540 and posted it on their platforms after the live stream 0:40:59.550 --> 0:41:03.149 is done as well. So really, really successful and the 0:41:03.399 --> 0:41:06.810 they're using the micro influencers, they don't have millions and 0:41:06.899 --> 0:41:11.709 millions of followers. They are ambassadors of campuses, the ambassadors 0:41:11.719 --> 0:41:15.520 of uh you know, thought leadership groups. That's right. 0:41:16.310 --> 0:41:20.709 Moving on to the use case grab. So if you 0:41:20.719 --> 0:41:22.939 open up the Grab app in Thailand and Malaysia and 0:41:22.949 --> 0:41:26.560 Malaysia are still doing the test, you will see the 0:41:26.570 --> 0:41:29.280 live stream grab life as power by the life and 0:41:29.290 --> 0:41:31.919 using Grab life. It's very interesting, right? They managed to 0:41:31.929 --> 0:41:34.520 deliver food directly from the live stream. You can order 0:41:34.530 --> 0:41:36.629 K F C or Pizza Hut directly from the live 0:41:36.639 --> 0:41:40.179 stream and have it delivered to your. Yeah. So uh 0:41:40.239 --> 0:41:43.179 Susie mentioned that already and you know, one shop has 0:41:43.189 --> 0:41:45.860 been one of the examples of how big content 0:41:46.409 --> 0:41:51.399 actually uh can actually really reinforce the grand attributes and 0:41:51.409 --> 0:41:54.590 you have a lot of uh organizations happen too, 0:41:57.260 --> 0:41:58.520 right? Data ownership. So 0:41:59.209 --> 0:42:01.610 I think lately when you mentioned first study data changi 0:42:01.699 --> 0:42:05.260 airport group, but they are very, very much aware of 0:42:05.270 --> 0:42:07.959 the importance of this. And the problem is when they 0:42:07.969 --> 0:42:11.580 started live streaming on Facebook, they would have customers, but 0:42:11.590 --> 0:42:14.429 they didn't know who the customers were after the live 0:42:14.439 --> 0:42:17.600 stream ended and they were very much reliant on multiple 0:42:17.610 --> 0:42:21.340 live streams every single day. Which became really expensive, really 0:42:21.350 --> 0:42:22.739 practicing to produce, 0:42:23.040 --> 0:42:25.179 to make, make sure. And I'm sure that the same 0:42:25.189 --> 0:42:27.928 customers come in and build warranty. Right. So that's not 0:42:27.939 --> 0:42:31.409 what we want to bring the viewers into the Changi 0:42:31.419 --> 0:42:34.219 Airport app on the Sun City website. And that's what 0:42:34.229 --> 0:42:36.310 they did successfully with our channel solutions. 0:42:38.030 --> 0:42:41.389 All right. So we talked a bit about the um 0:42:41.399 --> 0:42:44.069 micro trends and how the world is shifting towards video 0:42:44.080 --> 0:42:46.929 first commerce. But I want to show you something. I 0:42:46.939 --> 0:42:50.330 mean some really exciting new discoveries we have been fortunate 0:42:50.340 --> 0:42:51.340 enough to engage with. 0:42:51.739 --> 0:42:55.569 Yeah. So firstly graph right, diving a little bit deeper 0:42:55.580 --> 0:42:58.810 into grab life. What you see on the stream are 0:42:58.820 --> 0:43:02.510 influencers who are speaking about their love for pizza or 0:43:02.610 --> 0:43:04.879 K F C and you can interact with them by 0:43:04.889 --> 0:43:06.969 your comments, which is pretty traditional. But here I like 0:43:06.979 --> 0:43:08.189 to pause here and show you this, 0:43:09.399 --> 0:43:12.909 these stickers, right? These stickers are virtual gifts, right? And 0:43:12.919 --> 0:43:17.560 they can be sent by expanding grab points, right? So 0:43:17.570 --> 0:43:20.020 when you send, when you send the virtual gifts, grab 0:43:20.030 --> 0:43:22.669 points are removed to the balance. And as a company 0:43:22.679 --> 0:43:26.169 is a great, you know, this this all this ends 0:43:26.179 --> 0:43:31.009 on the balance sheet works. And we have redeemed almost 0:43:31.020 --> 0:43:33.429 $500,000 worth of grab points 0:43:33.760 --> 0:43:37.189 just by virtue of virtual. Yeah. So for delivery, virtual 0:43:37.479 --> 0:43:40.649 new frontiers for for live streaming, you lost so many 0:43:41.250 --> 0:43:42.810 shopping shop. 0:43:44.840 --> 0:43:48.899 Next, we have seen organizations use live stream to do 0:43:48.909 --> 0:43:52.760 uh char charitable events and charity events. Yeah. So for example, 0:43:52.770 --> 0:43:58.439 Hyper Life charity event and they raised almost $200,000 and 0:43:58.820 --> 0:44:02.969 they live stream. So people would actually scan a code 0:44:02.979 --> 0:44:06.549 and donate live, right? They could uh kind of request 0:44:06.560 --> 0:44:09.500 for their favorite song. It was a third time as performance, right? 0:44:09.510 --> 0:44:12.350 They could request for their favorite song directly on the 0:44:12.360 --> 0:44:13.870 live stream as well. Yeah. 0:44:15.330 --> 0:44:17.989 So I'm sure a lot of you guys are 0:44:18.649 --> 0:44:23.319 familiar with this uh particular live stream. MP MD who 0:44:23.860 --> 0:44:27.850 write down speech. So what life has done here was 0:44:27.860 --> 0:44:31.600 to analyze this live stream in real time and text 0:44:31.610 --> 0:44:36.360 sentiments to every single comment that was produced positive, negative 0:44:36.409 --> 0:44:39.409 and usual. So this might seem a bit a bit compulsive. 0:44:39.419 --> 0:44:41.830 Why do you need this content for a live stream 0:44:41.840 --> 0:44:44.899 on this in a political context? You probably can say 0:44:44.909 --> 0:44:46.739 that you might be used to determine who uh 0:44:47.399 --> 0:44:51.040 promoters detractors or neutral observers. But if you look at 0:44:51.050 --> 0:44:52.888 it this way, you can actually 0:44:53.649 --> 0:44:57.449 kind of applied to commerce context by saying certain things. 0:44:57.590 --> 0:45:00.600 So yeah, I knew you were really interested in on 0:45:00.610 --> 0:45:04.770 this uh topic. I wanna put, no, I to be honest, 0:45:04.780 --> 0:45:08.080 I was just thinking about the, the emojis and comments 0:45:08.090 --> 0:45:10.520 that would have shown up in this particular one about 0:45:10.530 --> 0:45:13.439 Prime Minister's pink shirt because I think this is a 0:45:13.510 --> 0:45:14.550 viral one which 0:45:15.399 --> 0:45:17.510 Yeah. Yeah. His pink shirt, I'm sure he got sold 0:45:17.520 --> 0:45:21.469 out in many places after after that happened. So for example, 0:45:21.639 --> 0:45:24.500 um kind of zooming into your pink shirt comment, right? 0:45:24.510 --> 0:45:27.939 Let's say if someone like uh kind of ask, hey, 0:45:28.060 --> 0:45:31.100 do you have this pink shirt in a open color 0:45:31.110 --> 0:45:33.830 like a red in size L? Right? So we can 0:45:33.840 --> 0:45:37.229 deduce now via the comments and sentiments. Three things about you. 0:45:37.489 --> 0:45:40.439 You like the color red you probably like and probably 0:45:40.449 --> 0:45:40.929 a size, 0:45:41.649 --> 0:45:44.879 right? So then we bucket you into a persona, you 0:45:44.889 --> 0:45:47.179 might be a house husband, you might be a executive, 0:45:47.189 --> 0:45:50.069 you might be a student, whatever. And we tag it 0:45:50.439 --> 0:45:53.290 the persona to your transaction data. And now we can 0:45:53.300 --> 0:45:56.530 recommend you um suitable products for your purchase in the 0:45:56.540 --> 0:45:59.429 future because we have the first party data, right? So 0:45:59.439 --> 0:46:03.040 that's super powerful sent analysis for. But one of the 0:46:03.050 --> 0:46:03.719 front of that. 0:46:06.080 --> 0:46:07.290 All right. So 0:46:07.899 --> 0:46:10.949 Suzie touched a bit about a R and S virtual Trion. 0:46:10.959 --> 0:46:14.529 What you see here is the possibility of going to 0:46:14.540 --> 0:46:18.009 do a live stream without even appearing a screen. And 0:46:18.020 --> 0:46:20.729 this is in incredible popular in the in Japan where 0:46:20.760 --> 0:46:25.169 you have youtubers, uh virtual tubers where you know, animate 0:46:25.179 --> 0:46:28.889 characters appear on the screen and the the live viewers 0:46:28.899 --> 0:46:30.590 and no one knows who are 0:46:31.580 --> 0:46:36.770 the sound, you know exactly like what and you know, 0:46:36.780 --> 0:46:40.500 super interesting to, to see this happening. You might, there 0:46:40.510 --> 0:46:42.509 might be a very uh you might not even need 0:46:42.570 --> 0:46:45.020 a real person to create a live stream, but it 0:46:45.030 --> 0:46:46.330 brings me to my next point. 0:46:47.000 --> 0:46:49.879 So I'm gonna, I'm gonna just shut up a lot 0:46:49.919 --> 0:46:53.429 and let you guys listen to this. Hello Retail Executive Summit. 0:46:53.780 --> 0:46:56.489 I'm speaking on behalf of Kenneth Tan from be live. 0:46:56.790 --> 0:46:59.429 I am not a real person. This is the future 0:46:59.439 --> 0:47:02.049 of live video. You don't even need a real person 0:47:02.060 --> 0:47:02.770 to live stream. 0:47:04.250 --> 0:47:07.169 All right. So I'm, I'm sure no one wants to 0:47:07.179 --> 0:47:09.479 see my ugly face more than live stream. And next 0:47:09.489 --> 0:47:10.909 time I'm doing this, I'm going to do this by 0:47:10.919 --> 0:47:15.250 a virtual streamer. Yeah, this is incredible. As, as a 0:47:15.260 --> 0:47:18.949 company we currently no credit for for this video. I just, right. 0:47:19.290 --> 0:47:22.779 But we have seen many, many companies from Korea. They 0:47:22.790 --> 0:47:26.300 have managed to replace their entire live stream repertoire with 0:47:26.310 --> 0:47:29.300 virtual streamers, right? So this is, this is uh gonna 0:47:29.310 --> 0:47:29.959 be exciting. 0:47:30.229 --> 0:47:32.719 Um Of course, it doesn't mean that there's no need 0:47:32.729 --> 0:47:36.040 for real human interactions. But what this means is because 0:47:36.050 --> 0:47:38.629 livestream content is so difficult to produce to find the 0:47:38.639 --> 0:47:42.100 right post is really quite right if you manage to 0:47:42.110 --> 0:47:44.870 find a post that, you know, uh symbolizes a brand 0:47:45.129 --> 0:47:46.159 efficiently and really well, 0:47:46.800 --> 0:47:53.310 virtual streamers can be alternative forms of that direction. Hm So, 0:47:53.320 --> 0:47:56.979 so Kenneth, this is obviously quite exciting for brands. But my, 0:47:56.989 --> 0:47:59.629 my question for you is because there's so much talk 0:47:59.639 --> 0:48:03.219 around A I around fraud around trust. Um Do you 0:48:03.229 --> 0:48:06.409 think that's gonna be an obstacle for consumers purchasing? Uh 0:48:06.419 --> 0:48:08.909 Is it, is this gonna take some time to really 0:48:08.919 --> 0:48:12.010 kick off in terms of people building trust with virtual streamers? 0:48:13.050 --> 0:48:15.600 Yeah, I think it's important to tag your campaigns to 0:48:15.610 --> 0:48:18.819 a reputable brand if you do intend to use virtual streamers, 0:48:18.830 --> 0:48:22.739 but that's putting on a regulatory corporate head, right? If 0:48:22.750 --> 0:48:25.299 I were to put on my entrepreneur, ha I would 0:48:25.310 --> 0:48:28.389 say this is a huge opportunity for smaller brands you 0:48:28.399 --> 0:48:31.409 really go in because it's purely due to the fact 0:48:31.419 --> 0:48:34.820 that there are no regulatory measures put in place, right? 0:48:34.830 --> 0:48:37.929 You might do you want to black sheep you don't buy, right? 0:48:37.939 --> 0:48:40.199 I mean, the is there, please 0:48:40.949 --> 0:48:45.840 research more and you know, it is really exciting for 0:48:45.850 --> 0:48:49.040 a net observer to look at a virtual streamer and 0:48:49.050 --> 0:48:51.340 they might just, you know, kind of find out more 0:48:51.350 --> 0:48:54.500 about your brand if you use this well enough. So 0:48:54.510 --> 0:48:55.459 I do think it's fortunate. 0:48:56.060 --> 0:48:56.709 OK. 0:48:58.949 --> 0:49:01.110 All right. So I'm gonna end this slide by talking 0:49:01.149 --> 0:49:01.189 about 0:49:04.989 --> 0:49:09.090 power of video first social commerce, first and foremost, it 0:49:09.100 --> 0:49:13.620 drives conversations and these conversations eventually lead to engagement which 0:49:13.729 --> 0:49:18.560 eventually conversions as well. So video first social commerce, please 0:49:18.570 --> 0:49:21.290 um check it out, you know, don't, don't take on 0:49:21.300 --> 0:49:24.479 a observer standpoint just as Suzy mentioned, take action, right? 0:49:24.729 --> 0:49:26.919 Let's create a small campaign, you know, few 100 buck 0:49:26.929 --> 0:49:30.379 1000 bucks give a shot surprised at that. 0:49:32.060 --> 0:49:34.669 Thank Thank you, Kenna. Thank you, Suzie. I think there's, 0:49:35.120 --> 0:49:38.159 there's a lot of great content there and, um, I've 0:49:38.169 --> 0:49:40.939 been watching as we've been going through, there's been, uh, 0:49:40.949 --> 0:49:43.080 quite a lot of questions showing up in the Q 0:49:43.090 --> 0:49:45.000 and A I, I'm not sure that we will have 0:49:45.010 --> 0:49:46.800 time to go through all of them. 0:49:47.020 --> 0:49:49.669 Um, but I'm going to pick out a couple, uh, 0:49:49.679 --> 0:49:53.888 and I will direct them to both you Kenneth and Susie. 0:49:53.899 --> 0:49:57.649 So as we discussed earlier with the poll, we saw 0:49:57.659 --> 0:50:01.550 that there was a lot of brands that hadn't tried e-commerce. First, 0:50:01.629 --> 0:50:03.209 one of the questions was 0:50:03.489 --> 0:50:07.250 an organic search for a particular brand is low unless 0:50:07.260 --> 0:50:11.350 consumers are already aware of the brand, product or services, 0:50:11.360 --> 0:50:15.060 how can new brands take advantage of social commerce to 0:50:15.070 --> 0:50:18.629 build awareness? Should they even be looking at social commerce 0:50:18.639 --> 0:50:19.860 as a market strategy? 0:50:24.649 --> 0:50:28.839 Um I can address that very quickly. I actually because 0:50:29.590 --> 0:50:32.939 the research shows that people are actually very open to 0:50:32.949 --> 0:50:35.889 new brands and new uh stores. I, I think it 0:50:35.899 --> 0:50:39.959 says up to one third are open to buy from 0:50:39.969 --> 0:50:44.689 brands or e stores that they've not even heard of. So, 0:50:44.699 --> 0:50:47.870 uh I early on I said uh purchases, whether it's 0:50:47.879 --> 0:50:50.459 Discovery lab or search lab, right? 0:50:50.709 --> 0:50:53.110 If you think about it, search lab frequently, you already 0:50:53.120 --> 0:50:55.679 kind of know, you know, the brands and uh that 0:50:55.689 --> 0:50:58.360 you wanna look for, right? You know, X Y Z brand, 0:50:58.370 --> 0:51:01.260 you know, and then you look for options. Uh you, 0:51:01.270 --> 0:51:04.388 you kind of really narrow it down. But discovery lab 0:51:04.399 --> 0:51:09.149 commerce is surprising users with something that they didn't know 0:51:09.159 --> 0:51:11.459 you think about it, right? So if you are new brand, actually, 0:51:11.469 --> 0:51:14.739 I I would encourage you to really embrace uh social 0:51:14.750 --> 0:51:17.159 commerce instead of fighting it out there 0:51:17.540 --> 0:51:20.080 with the search words and all that, right? I think 0:51:20.090 --> 0:51:23.159 it's worth a battle to create content because at the 0:51:23.169 --> 0:51:25.810 heart of the matter is can you create the content? 0:51:25.820 --> 0:51:28.600 Can you create that experience? Can you find the network? Right? 0:51:28.610 --> 0:51:32.139 The three categories I spoke about, right? So start somewhere. 0:51:32.149 --> 0:51:34.570 And um the beauty of social commerce is actually the 0:51:34.580 --> 0:51:38.419 content is not expensive to create. There's so much tools, 0:51:38.429 --> 0:51:41.409 the card, you do your videos, your filters and all that, right? 0:51:41.419 --> 0:51:45.189 So much support, right? So content creation tools are there 0:51:45.679 --> 0:51:48.969 driving down the funnel? The tools are there too because 0:51:48.979 --> 0:51:51.929 the platform is enabling you to click through, right? You 0:51:51.939 --> 0:51:54.529 know there's a banner there that clicks the catalog catalog 0:51:54.540 --> 0:51:57.469 leads to your product page, right? You just need your 0:51:57.479 --> 0:51:57.850 um 0:51:58.360 --> 0:52:00.290 to do it at the back end to to set 0:52:00.300 --> 0:52:03.639 it up properly. So that the transaction from point of 0:52:03.649 --> 0:52:07.169 inspiration to check out is all very simplest, right? So 0:52:07.179 --> 0:52:08.429 I I would say that even if you are a 0:52:08.439 --> 0:52:11.469 known brand uh embrace it because I, I think it's 0:52:11.479 --> 0:52:16.330 a much uh much more uh OK, I feel there's 0:52:16.340 --> 0:52:19.229 there's a chance that if you do the content right? 0:52:19.239 --> 0:52:22.860 You're very authentic about your brand attributes, the offer you're 0:52:22.870 --> 0:52:24.510 making it will resonate. 0:52:24.520 --> 0:52:25.870 Yeah. Hm. 0:52:26.800 --> 0:52:29.359 Thank you. Thank you, Suzie. Uh I think we have 0:52:29.370 --> 0:52:31.870 time for one more question before we have to go 0:52:31.879 --> 0:52:34.350 and hopefully we'll be able to come back on some 0:52:34.360 --> 0:52:38.089 of the questions via email later. Um I'm going to 0:52:38.100 --> 0:52:40.009 address this one because there was a few, a few 0:52:40.020 --> 0:52:43.229 people that mentioned it, it was a question on rampant 0:52:43.239 --> 0:52:46.659 discounting when it comes to social commerce and how do 0:52:46.669 --> 0:52:49.909 we avoid? Um I guess a race to the bottom 0:52:49.919 --> 0:52:53.250 when it comes to pricing Kenneth, I might address this 0:52:53.260 --> 0:52:53.889 one to you. 0:52:56.409 --> 0:52:57.449 Yeah. So um 0:52:58.199 --> 0:53:01.689 I commented about first principles on the brand's essence, right? 0:53:02.899 --> 0:53:05.620 You only need to raise the bottom when you intentionally 0:53:05.629 --> 0:53:09.520 targeting a group of users that come in for discounts, right? So, 0:53:09.530 --> 0:53:12.229 in fact, for most of our customers, uh we see 0:53:13.139 --> 0:53:16.000 loyal, really loyal viewers who come in not because they 0:53:16.010 --> 0:53:19.049 want the sp but because they are really interested in 0:53:19.060 --> 0:53:22.110 understanding more about the product and the ambassadors to talk 0:53:22.120 --> 0:53:25.049 about the product, right? So the ambassadors are really important. 0:53:25.379 --> 0:53:29.540 Um the streamers and the people who are always the 0:53:29.550 --> 0:53:31.888 first comments, right? So a lot of times when you 0:53:31.899 --> 0:53:33.949 look at social problems, you look at the streamers, but 0:53:33.959 --> 0:53:35.629 you also need to be aware about the people who 0:53:35.639 --> 0:53:38.209 comment the most, the people who stay on the stream 0:53:38.219 --> 0:53:40.310 the most try and engage them a bit more, right? 0:53:40.320 --> 0:53:43.069 Because then you will have a group of super super 0:53:43.080 --> 0:53:46.000 angels who will kind of kind of come to every 0:53:46.010 --> 0:53:48.560 single stream and help you defend the product. And when 0:53:48.570 --> 0:53:52.250 people catch that kind of enthusiasm in the live stream, 0:53:52.669 --> 0:53:54.929 that's the power of life on social, right? You can 0:53:54.939 --> 0:54:00.570 catch even the comments, right? They will be infected and 0:54:00.580 --> 0:54:03.419 then you can have a really strong following and, uh, 0:54:03.429 --> 0:54:05.719 you know, I think it sounds quite, I, yeah, I know. 0:54:05.729 --> 0:54:08.129 It sounds eventually nothing both have to be spent 0:54:08.629 --> 0:54:11.860 but where you spend a buck dollars, I think, focus 0:54:11.870 --> 0:54:15.939 on getting the right customers. Mm. Thank you, Kenneth. I 0:54:15.949 --> 0:54:20.339 think that's really interesting. It goes back to even traditional social, 0:54:20.350 --> 0:54:24.429 you know, 10 engaged users are better than 100 viewers 0:54:24.439 --> 0:54:25.100 as well. 0:54:26.139 --> 0:54:28.560 Yeah. Thank you. I, I think that's all we have 0:54:28.570 --> 0:54:31.669 time for today, but it's been a very interesting and 0:54:31.679 --> 0:54:35.359 enlightening conversation. I just want to thank Kenneth for joining 0:54:35.370 --> 0:54:39.509 us from being live, um, and Susie as well. Uh, 0:54:39.520 --> 0:54:43.080 I wish everyone, uh, a fantastic day ahead. Thank you 0:54:43.090 --> 0:54:43.689 very much.