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Criteo marketing techonology boosts Tiki's revenue by 64%

Released at: 15:55, 24/02/2017

Criteo marketing techonology boosts Tiki's revenue by 64%

Photo: tiki.vn

Performance marketing solutions substantially increase revenue in just three months.

by Hai Van

Criteo’s technology helped Tiki record a 184 per cent increase in its app conversion rate and a 64 per cent increase in monthly revenue in just three months, Tiki announced on February 22.

Tiki evaluates a marketing channel’s effectiveness by examining how it improves customer engagement, sales acquisition, and overall revenue. Since July last year, Criteo’s performance marketing solutions have delivered positive results to Tiki’s branded mobile app, with a 67 per cent increase in average order value.

Vietnam is a truly a “mobile-first” market. Ninety-seven per cent of local shoppers are regular users of mobile shopping apps, of which 88 per cent have completed purchases via an app. In order to effectively convert consumers of PCs and smartphones, Tiki turned to Criteo’s cross-device and in-app performance marketing solutions.

Powered by the Criteo Engine, these solutions use machine learning to compute an individual’s preferences and readiness to purchase, by assessing online browsing behavior across devices. It then automatically delivers personalized content - relevant and recommended products - after a shopper has exited Tiki.vn. This encourages the user to return and complete a purchase.

According to research by Criteo, shoppers use apps like Tiki.vn because they enjoy the variety of goods and services available on a single platform. But large product catalogues mean consumers are often unaware of certain products that best meet their needs. To ensure they discover the right products, e-commerce providers must use technologies that empower them with a more personalized customer engagement strategy.

“Criteo’s performance marketing solutions allow for more meaningful shopping experiences and thus increase interactions and conversions, further driving e-commerce growth for retailers in Vietnam,” said Mr. Alban Villani, Commercial Director, Southeast Asia, at Criteo.

“Criteo’s ability to deliver highly personalized advertising content helps consumers discover products that truly meet their needs,” said Mr. Phan Tuan Anh, Head of Marketing at Tiki. “This has increased positive customer interactions and enhanced our status as a trustworthy e-commerce provider. Criteo has become an important partner for Tiki and we are very satisfied with the results so far.”

Founded in 2010, Tiki was one of the first e-commerce startups in Vietnam. After achieving success as an online bookstore, the company began diversifying its offerings six years ago to include electronics and lifestyle goods. However, its vast online catalogue of more than 300,000 products soon became hard to manage. While Tiki was regularly updating its inventory with new items to meet a variety of needs, it found that the millions of daily website and mobile app visitors were unable to keep up with its latest products. This made it challenging to drive sales conversions for these new offerings.

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