- Tiki collaborates with Criteo to convert web and mobile app store traffic into actual sales
- Partnership increases App Conversion Rate by 184 percent and monthly revenue by 64 percent
- Cross-device and in-app performance marketing solutions ensure online shoppers discover Tiki’s latest products, enhancing their eCommerce experiences and improving operational efficiency
Criteo (NASDAQ: CRTO), the performance marketing technology company, and Tiki, the largest business-to-consumer (B2C) eCommerce company in Vietnam, today announced results from their ongoing collaboration. Tiki has been using Criteo’s cross-device and in-app performance marketing solutions since July 2016. Within three months, Criteo’s technology helped Tiki achieve a 184 percent increase in App Conversion Rate and a 64 percent increase in monthly revenue.
Founded in 2010, Tiki was one of the first eCommerce startups in Vietnam. After achieving success as an online bookstore, the company started diversifying its offerings 6 years ago to include electronics and lifestyle goods. However, its vast online catalogue of more than 300,000 products soon became a double-edged sword. 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 for Tiki to drive sales conversions for these new offerings.
Vietnam is a truly ‘mobile-first’ market – 97 percent of local shoppers are regular users of mobile shopping apps, of which, 88 percent have completed purchases in-app. To effectively convert consumers across 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 behaviour across devices. It then automatically delivers personalised content – relevant and recommended products – after a shopper has left Tiki.vn. This encourages the user to return and complete a purchase. Through this partnership, Tiki saw a significant increase in App Conversion Rate, Average Order Value and monthly revenue.
“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, eCommerce players must use technologies that empower them with a more personalised customer engagement strategy. Criteo’s performance marketing solutions allow for more meaningful shopping experiences, and thus increasing interactions and conversions further driving eCommerce growth for retailers across Vietnam,” said Alban Villani, Commercial Director, Southeast Asia, Criteo.
Quarterly Results of Criteo’s Collaboration with Tiki
Tiki evaluates a marketing channel’s effectiveness by examining how it improves customer engagement, sales acquisition and overall revenue. Since July 2016, Criteo’s performance marketing solutions have delivered positive results:
- 184 percent increase in App Conversion Rate on Tiki’s branded mobile app
- 67 percent increase in Average Order Value
- 64 percent increase in monthly revenue
“Criteo’s technology fits into our vision of offering original products, insightful customer service that leads to excellent shopping experiences, and unparalleled delivery and fulfilment. As we grow our business and the size of our product inventory, ads that are automatically served across platforms with precision free up our staff to focus on other operational tasks. More importantly, Criteo’s ability to deliver highly personalised advertising content helps consumers discover products that truly meet their needs. This has increased positive customer interactions and enhanced our status as a trustworthy eCommerce provider. Criteo has become an important partner for Tiki and we are very satisfied with the results so far,” said Phan Tuan Anh, Head of Marketing, Tiki.
The full Tiki Case Study can be accessed at the following link: http://www.criteo.com/media/6064/criteo-tiki-case-study.pdf
Also published on Medium.