Fast Lane Ventures

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How to incubate and execute, Russian style...

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Content

radar screen
analytics

proven business models
focused search clearly vision awareness wise selection market knowledge
flawless
networks

foresight

leverage

focus

financial accounting leverage

growth

invest

partnership
understanding

reporting standards

corporate governance
openness acquisition

negotiating

planned exits
winner trust ability

disproportionate return

transparency
success

entrepreneurs
KPIs

founders

Marketing Drivers in Russian Ecommerce
Татьяна Цветкова Директор по развитию

performance oriented accountability recruitment years of experience pressure passion coaching experts work fast execution power academia ahead

execution

constant support
people

shared services
Confidential 1

contacts

riding the curve

Who we are
Fast Lane Ventures capitalizes on the significant opportunities within the Russian internet sector – one of the most growing sector of economy
• Fast Lane Ventures is a leading developer of internet companies in the high growth Russia internet market. Our strategic focus is internationally successful ideas in consumer Internet • Unlike traditional venture funds we act as both an operational partner and investor at the same time: we invest at seed-stage and provide our portfolio companies full operational support, management and promotion after their launch • We believe in Russian great future and head a new wave of Russian consumer internet.

Who we are

• 5 market sectors covered: e-commerce, consumer service, b2b service, content & advertising, social services

• 15 companies established

Achievements

• 1 company sold • 55 million USD of investments attracted in Fas Lane Ventures and its portfolio companies

• 700 employees are building start-ups with Fast Lane Ventures
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How we get new ideas
In 2011 we launched 12 companies, after considering 580 business models, and discussing 146 projects in detail on weekly IC There four major sources of incoming ideas:
We issued ‘GO’ on 12 companies…
Heverest DomGeo TravelRent
Management, shareholders and partners 130 Submitted projects 345 Internal analysis 45 Analysis of investors portfolios 60

VitaPortal

OdinOtvet

RentHome

Preliminary analysis
Juvalia
Kommerstate

587

Lokata

PinMe

Eventmag

HomeFair

Step 1 Step 2
50

146

Our Investment Criteria:
• • • • • • • ‘Go’ idea has to be based on proven business model Project has clear and fast road to market Fast Lane Ventures can effectively contribute in day-to-day operations Project meets seed (EUR 0,3M-0,7M) and cumulative funding (up to EUR 3M-20M) requirements Currently market niche has low level of competition and project is positioned to capture leadership Business model is ‘marketing driven’ and allows scalability There clear exit opportunities

Step 3
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GO
3

Our projects
Ecommerce projects: •Sapato – Shoes store (sold to Ozon Feb,2012) •Heverest – Sport and outdoor store •HomeFair – Home goods and furniture (will launched April, 30)

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Fast 50 Launch Process Overview
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

50 days

1) IDEA / GO DECISION
1.1. Idea & Before GO 1.2. Name, Trade Mark & Logo 1.3. Legal Entity

2) PRODUCTION SET UP
2.1. IT Solution 2.2. HR Core Team 2.3. Financial model & plan 2.4. Marketing Strategy 2.5. Operations 2.6. Legal Aspects 2.7. Accounting Aspects

3) PRE-LAUNCH
3.1. Alfa Version 3.2.Readiness Test 3.3. Business Controlling

Day 0 - 3

Day 1 - 45

Day 40 - 50

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5

Marketing Drivers

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Main KPIs to measure
KPI: Conversion rate

• • • • • • • • • • • • •

Number of visitors Cost per visitor Conversion rate Orders Cost per Order Repeat orders AOV Items per buyer Gross sales (demand) Gross to net ratio Net Sales Cancelation rate Email base

Archived conversion

Critical conversion

Planned conversion 1.03% 0.91% 0.55% 0.35% 0.60% 0.40%

0.22% 0.13% 0.10% Jul 2011

0.40% 0.23% 0.17% Aug 2011

0.45% 0.31% 0.22% Sept 2011

0.55% 0.30%

Oct 2011

Nov 2011

Dec 2011

KPI: Visits
932713 871522 1061911 1158585 605698

320821 282254 Jul 2011

597676 462174

747246 586956

351104
Sept 2011 Oct 2011 Nov 2011 Dec 2011

Aug 2011

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1. Copycat and further development
1. Copycat at the start 2. Start of improvement just after start 3. Product manager from the beginning 4. Change of conversion rate from 0,3% to 1%

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2. SEO and SEM is your key to success

SEO:
• SEO manager should start to work before the site launch • It’s a long-term investment and first results will be visible after 4-5 months • CPO is decreasing dramatically (from 350 RUB to 50 RUB)

SEM:
• It’s a huge work and some things can be given to the agency • For ecommerce automation is a must: Automatic bids control depending on a conversion rate Automatic ads generation on the basis of xml feed • Be ready to huge increase in CPC as of competitors activity

Learnings:





Special pages for top queries is needed Expensive links do not provide a comparable effect Use all of utm tags

Learnings:
• • • Full day context specialist in-house Control each of ads and keywords Regional, network and search engine campaigns separation Good preparation of landing pages



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3. Emailing
1. Start to gather emails from the first day 2. Use partnership opportunity to get useres emails 3. Controlling of SPAM filter in Mail.ru and Yandex.ru 4. At the beginning – mass email, after 9 months – RFM and category segmentation 5. Test systems (Subjects line, time of sending, name or without name, letter creative etc) 6. Make email chains

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4. Prepare association rules for x-selling

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4. Advertising in Teaser networks

Vkontakte has a huge audience but the problem is that it required huge human resources for campaign management. We use automation tool for it – Hi Conversion (www.hiconversion.ru)

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4. TV campaigns

Nothing beats TV in terms of reach and impact: If financially feasible use it as a jump start and also to boost other channels.

Use as a support in Yandex and Mail: 1. Display 2. SEM for slogan and other triggers

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4. Stages of marketing development
CR, %

Initial marketing stage

Increase channel penetration, broaden mix

Go offline and drive efficiency

•Broad SEO •Targeted SEM •Aggregators (price

•Broader SEM

•Transfer display deals into

•Scaling up display
•Actively acquired

comparison)
•Very targeted

cooperation
•Expand offline

broad range of
affiliates •Potentially TV •Traffic management “eliminate the average”

display
•Re-targeting •“Invite a friend” •Viral •Lead generators

marketing
•Introduce integrated marketing platform

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Some thoughts about ecommerce 2012-2013

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The most important thought of 2012 The “problem” with Internet is that its binary. Its 1 or 0. No middle. Only number 1 get funding (BIG FUNDING) and only number 1 does big exit. Dominate one city / one product / one service before you do anything else.

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TOP investment in 2010-2011
Company Amount raised, $ '000 Date Investors Round Sector

Ozon
Darberry Kupivip Biglion Utinet KupiVip Ostrovok Sapato Lamoda
Wikimart Biglion KupiKupon Vigoda

100000
66000

Ru-Net, Rakuten, Alpha Associates, Index Ventures Aug-2010 Groupon

Sep-2011

Unattributed
Acquisition Round C Round B IPO Round B Round B Round C Round A

E-commerce
E-commerce E-commerce E-commerce E-commerce E-commerce E-commerce E-commerce E-commerce

55000
25000 13000 20000

Accel Partners, Mangrove Capital Partners, Apr-2011 Direct Group, Oliver Jung, ARLAN, Balderton Capital Dec-2011 Tiger Global Management Equity Capital Markets Jul-2011 Jan-2010 Accel Partners General Catalyst Partners, Accel Partners, May-2011 Atomico, Founders Fund, Kite Ventures, foreign angel investors Sep-2011 Apr-2011 Intel Capital, Direct Group, eVenture Capital Partners

12600
12000

10000
7000 6000 6000 6000

Mar-2011 Mar-2011 May-2011 Mar-2011
Apr-2011

Tengelmann Group, Holtzbrinck Ventures, Kinnevik Tiger Global Management Ru-Net Veritas Financial Europe Access Industries
Mangrove Capital Partners, ABRT Venture Fund, Ventech

Round B Round A Round A Round A
Round A

E-commerce E-commerce E-commerce E-commerce
E-commerce

oktogo

5000
5000

Sapato

Feb-2011

Fast Lane Ventures, eVenture Capital Partners, Direct Group

Round B

E-commerce

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Formula to success There is no low-hanging fruit anymore in Russia. You have to fight and be more aggressive to win.
1. Team 2. Make benchmarking 3. Don't afraid to implement innovative approach 4. Fast execution 5. kpi driven business Very smart marketing 6. Sales methodology is a key 7. Know competitors in detail Know you clients in detail 8. Attract money feel free to develop the company
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Tatiana Tsvetkova [email protected] http://fastlaneventures.ru/en/

+7 (916) 6450868 12 Dvintsev Str. bld. 1, Moscow, Russia 127018

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