Mobio Talks with Natalia Shagarina (Foodadil) about product growth, launching a cashback service and partnership with Yandex
As part of the transfer of Mobio Talks, the founder of Getloyal, Alexey Pisarevsky, interviewed Natalia Shagarina, General Director of the Foodadil service.
This issue discussed:
')
- The main growth drivers in Foodadil;
- How to launch a new cashback service "Sova";
- The future of service and market prospects;
- Investments and features of partnership with Yandex;
- New formats of mobile advertising;
- The team "Foodad" and attracting top management;
- and much more.
Full text transcript can be viewed at the link. Or read the shortened version under the cut.
About growth and performance
During the May 2017 Product Camp talk, you told how you reached the 3.5 million monthly active users. In the presentation there was a schedule where you can see exactly how you grew, how many users you bought per month, how many new ones came, and the rate for the installation was shown. If you extend this schedule, now in the application "Foodadil" should be 5 million active users per month?
5.2 million active users, you guessed it.
Did you continue to grow at the same rate?
Yes. Growth Hacking happened rather due to changes in the product. We invented what gave us grocery cravings.
Prior to this, the main driver of growth was performance-marketing, that is, the purchase of traffic?
The main driver is the growth of organic matter, which is 60-65%. It depends on what angle to look at what is considered organic. We cannot say that we have got accustomed in full volume of offline channels, for example, TV, in which we invested this summer.
According to my feelings, either we did not learn how to make TV, or this channel has ceased to be quite effective. But in connection with the technological update in the product, we will continue to work with performance-marketing.
I understand correctly that you did not extend the TV test about which you spoke at Product Camp (10 million rubles for placement)?
We have not extended. The experiment itself was not so bad. In reality, the results were good. The experience was extremely important. But the cost for the installation and the cost of the active user, it seems, even with good optimization does not reach the desired performance.
But at that moment a grocery explosion will happen. This led to a return to performance marketing and a reconsideration of his views.
About the launch of cashback service
By the product explosion you mean the Sova cashback service? Did you launch it only in December?
Yes. We tested it as a separate application in August. And they saw an unexpected involvement.
The application was very simple. We launched 2000 users. And users have been biased towards those who, it seems, do not need anything at all. The engagement was huge. We stopped the test and began to fully make the application, we managed to start before the New Year, that is, during the peak shopping period.
Working on the product, the team united in unison. The team consists not only of those guys who make b2c products, but also of those who work with business, who explain, invents a new value for FMCG (Fast Moving Concumer Goods) companies and retailers.
We planned in mid-December to launch a product in which there are both users and value at the same time. That is, if we ourselves subsidized the value in Sove, then Fooddil already had real offers from companies that want to influence their sales. And it turned out. We made such a growth in the product.
The future of your service - when will the buyer come to the store and get a personalized discount?
Yes. But cashbacks themselves can be both personal and non-personal. And, of course, we started with a simple and continue more complex. Any personalization, the correct recommender system, which takes into account both the profitability of our client, and the joy of our user, will develop over the years.
The first approaches we are doing now. We will be happy in the coming months to offer a more personalized set of cashbacks, respectively, more profitable. More profitable, because it is not rolled out at all, but only on those who are most likely to take advantage and bring a good income.
Why did you decide to run through a separate application?
We decided to check the fastest way. And it seems to me that we are great fellows, that we checked it with a service, and not with a function or collection of applications for using such an application. Start the service for 2,000 users, make sure that it works, and then make it fully functional - a practice to be proud of.
What's next? What is planning the next round of growth?
We specialize in regular daily, weekly purchases. Monthly, let's say. When a person buys it so that it is in the fridge and does not end on the shelf, he doesn’t have exactly the same pattern as those who choose, for example, a refrigerator for certain properties.
He needs it to be on time, at a bargain price, with a minimum of effort, with little entertainment, in terms of the “banana or raspberry flavor I want.” There is a certain set that develops into human combinatorics.
And then we must help to solve this particular task - to collect a set of people from his repertoire, which he consumes weekly, to collect all the benefits, all the tools. That is, we need to transfer all parts of the ineffective offline experience to online.
Could help him not to go shopping, but at the same time know about regular discounts? Well done. Could collect cashbacks to him so that he does not depend on which store he wants to get a benefit for the goods? Well done. Were able to make coupons for stores that want him back. Well done.
We make a product that reduces the personal wishes of the user so that the market can offer now. But, since the real world once a year does something that can be included. For example, now all sorts of product deliveries are actively growing. Here two years ago there was almost no choice. And now there are offers in different segments. This is the next level of convenience, which you can think and talk about.
“Food” will deliver?
"Foodad" will not deliver. But Fooddil seriously sees that the next opportunity to facilitate the choice and the task of regular purchases is in the delivery. We understand from what current variety of market opportunities the user can make the next level of convenience, and run there the fastest. Because 5 million users have already entrusted us with their shopping. We must take care of them.
When will buying everyday goods go online completely? Or at least 80%.
I believe in 30% in the next three to five years.
The main advantage of the Foodadil service is savings?
The app gives a few things. It also saves money, and time, and creates the feeling that you are well done.
Yes. It is important. And how does it save time?
If you open the application store and read the reviews, you will see that there are two factors: “Thank you, you save time and money.” Time is mentioned as often as saving money.
And so you can go and buy goods without discount.
Not. So I will think where to buy at a discount. There is a transition border from the case “I don’t think about the benefit” to the case “I think about the profit”. I will give an example. We drive a long time. But at some point we begin to drive with the navigator.
Until the moment when you ride with the navigator, you: “I know about where to go home from work. I know about traffic jams. ” But from the moment you realize that you can open the navigator, look at traffic jams, go on a more optimized route, you are already very nervous when you got the phone in the car.
With benefits about the same. When you realize that you can take into account one more layer in your combinatorics, including where the most advantageous offer is now, I will not go just to buy lip gloss, for example. I will think on the beach: “I should wait for discounts for March 8 in my favorite more expensive cosmetic boutique or me ...”. That is, I already have this layer.
Good. Suppose there is a family of three people. They spend 50 thousand rubles a month on consumer goods and do not look at discounts at all. How much money can they start saving if they start using Foodadil?
thirty%. If you start tacking.
How long will it take?
It seems to me that with the help of "Foodad" much less. For 20 minutes, while you go to the subway, you can understand which store you will go to and what you will buy.
About investments and features of working with Yandex
You have attracted investments from Yandex. Initially it was 10% of the company?
10% of the company along with loans. This is still the case. Just the amount of loans increased.
I slightly analyzed the schedule with Product Camp. In a year and a half, you spent about 90 million rubles on performance-marketing?
Estimate is rough. Not less.
Accordingly, they continued to spend the next year. That is, this “Yandex” has invested in the form of some loans?
We are old partners with Yandex. From the point of view of investment, they showed unprecedented power in that they supported the project at the earliest stage, then at the middle stage and now at the scaling stage, when we really see a synergistic effect, which in the coming years we will most likely show nicely.
Have a plan, what indicators should you achieve by 2020?
We are creating a tool for the FMCG market (Fast-Moving Consumer Goods). They are consumer goods. In order to have a business here, we must have a critical mass, the ability to influence sales and opinion, to give a rather interesting analytics slice.
We carry a lot of value for the market. But these values ​​only have weight if they have reached a critical mass of millions of users. Therefore, success is described as the ability to influence 20% of households in Russia. 18-20% will be a good bar.
Do you need 15 million active users per month?
Yes.
Is there revenue?
Now cashback is a transactional model. In this particular model, our revenue is a derivative of the users happiness. If we brought the user happiness for a certain amount of cashback money, this is undoubtedly an indicator of happiness. That and the revenue - is a derivative of this happiness. Therefore, yes, there is revenue. She, along with the happiness of users lies on the devices.
Are you moving now?
In some places - above the plan. When you launch something completely new, you are more likely to get the effect of a self-fulfilling prophecy than a plan.
You have spoken many times about the advantages of partnership with Yandex. Is there at least one minus?
We are limited by the ability to poach employees from Yandex. This is a significant market constraint.
Lure or hire?
To poach. This is a situation in which I initiate a dialogue. And Yandex really needs a person. This is the biggest minus. And I think he is really the biggest.
In Fooddil you invent new formats of mobile advertising, as you said.
Yes. For customers - no doubt.
Is there a chance that you can buy ads in Foodad through Yandex.Direct?
Now advertisements in Fooddil can be purchased through Yandex.Direct, part of its formats. She brings a significant portion of the proceeds.
And what is this format?
These are the formats inside. Direct sales are rather special projects. Such small, not very custom. We have over 40 customers there. We understand what they need, and we do it in many ways with our hands. Constantly customizing: “Do you want to land on a landing page or on a selection of products every time?”
And so you just scroll down and see the Yandex.Direct blocks below. They are available to everyone. We also chose and thought which supplier to put there. In our case, Yandex won.
That is, the market won?
Yes. There was Google and Facebook. Yandex won.
Does Yandex give you traffic?
On the main mobile page of Yandex is our block. We are very proud of him, because he has a very high CTR. This is a very high quality partnership. There is more traffic to our touch-version.
This year's experiment: we believe in touch as a third platform (touch is the mobile web). Touch - that is, an interface with which users will interact in the same way as with a mobile application.
We have a search application "Yandex" with a large audience and a mobile "face". And these are good sources of traffic in touch. We launched it only last year. It is not yet fully functional, has not caught up with the application. But we will gradually catch up.
It seems to me that in a year, MAU touch and MAU of the mobile application can be folded. And the efficiency in the conversion of touch will be, according to my research, the best benchmarks - 15-20%. We are not there yet. But this is the goal.
Read the full transcript of the interview here .
Subscribe to our youtube channel to not miss the next issues of Mobio Talks.
And also subscribe to the Telegram channel for product marketing and get high-quality content!
This issue discussed:
')
- The main growth drivers in Foodadil;
- How to launch a new cashback service "Sova";
- The future of service and market prospects;
- Investments and features of partnership with Yandex;
- New formats of mobile advertising;
- The team "Foodad" and attracting top management;
- and much more.
Full text transcript can be viewed at the link. Or read the shortened version under the cut.
About growth and performance
During the May 2017 Product Camp talk, you told how you reached the 3.5 million monthly active users. In the presentation there was a schedule where you can see exactly how you grew, how many users you bought per month, how many new ones came, and the rate for the installation was shown. If you extend this schedule, now in the application "Foodadil" should be 5 million active users per month?
5.2 million active users, you guessed it.
Did you continue to grow at the same rate?
Yes. Growth Hacking happened rather due to changes in the product. We invented what gave us grocery cravings.
Prior to this, the main driver of growth was performance-marketing, that is, the purchase of traffic?
The main driver is the growth of organic matter, which is 60-65%. It depends on what angle to look at what is considered organic. We cannot say that we have got accustomed in full volume of offline channels, for example, TV, in which we invested this summer.
According to my feelings, either we did not learn how to make TV, or this channel has ceased to be quite effective. But in connection with the technological update in the product, we will continue to work with performance-marketing.
I understand correctly that you did not extend the TV test about which you spoke at Product Camp (10 million rubles for placement)?
We have not extended. The experiment itself was not so bad. In reality, the results were good. The experience was extremely important. But the cost for the installation and the cost of the active user, it seems, even with good optimization does not reach the desired performance.
But at that moment a grocery explosion will happen. This led to a return to performance marketing and a reconsideration of his views.
About the launch of cashback service
By the product explosion you mean the Sova cashback service? Did you launch it only in December?
Yes. We tested it as a separate application in August. And they saw an unexpected involvement.
The application was very simple. We launched 2000 users. And users have been biased towards those who, it seems, do not need anything at all. The engagement was huge. We stopped the test and began to fully make the application, we managed to start before the New Year, that is, during the peak shopping period.
Working on the product, the team united in unison. The team consists not only of those guys who make b2c products, but also of those who work with business, who explain, invents a new value for FMCG (Fast Moving Concumer Goods) companies and retailers.
We planned in mid-December to launch a product in which there are both users and value at the same time. That is, if we ourselves subsidized the value in Sove, then Fooddil already had real offers from companies that want to influence their sales. And it turned out. We made such a growth in the product.
The future of your service - when will the buyer come to the store and get a personalized discount?
Yes. But cashbacks themselves can be both personal and non-personal. And, of course, we started with a simple and continue more complex. Any personalization, the correct recommender system, which takes into account both the profitability of our client, and the joy of our user, will develop over the years.
The first approaches we are doing now. We will be happy in the coming months to offer a more personalized set of cashbacks, respectively, more profitable. More profitable, because it is not rolled out at all, but only on those who are most likely to take advantage and bring a good income.
Why did you decide to run through a separate application?
We decided to check the fastest way. And it seems to me that we are great fellows, that we checked it with a service, and not with a function or collection of applications for using such an application. Start the service for 2,000 users, make sure that it works, and then make it fully functional - a practice to be proud of.
What's next? What is planning the next round of growth?
We specialize in regular daily, weekly purchases. Monthly, let's say. When a person buys it so that it is in the fridge and does not end on the shelf, he doesn’t have exactly the same pattern as those who choose, for example, a refrigerator for certain properties.
He needs it to be on time, at a bargain price, with a minimum of effort, with little entertainment, in terms of the “banana or raspberry flavor I want.” There is a certain set that develops into human combinatorics.
And then we must help to solve this particular task - to collect a set of people from his repertoire, which he consumes weekly, to collect all the benefits, all the tools. That is, we need to transfer all parts of the ineffective offline experience to online.
Could help him not to go shopping, but at the same time know about regular discounts? Well done. Could collect cashbacks to him so that he does not depend on which store he wants to get a benefit for the goods? Well done. Were able to make coupons for stores that want him back. Well done.
We make a product that reduces the personal wishes of the user so that the market can offer now. But, since the real world once a year does something that can be included. For example, now all sorts of product deliveries are actively growing. Here two years ago there was almost no choice. And now there are offers in different segments. This is the next level of convenience, which you can think and talk about.
“Food” will deliver?
"Foodad" will not deliver. But Fooddil seriously sees that the next opportunity to facilitate the choice and the task of regular purchases is in the delivery. We understand from what current variety of market opportunities the user can make the next level of convenience, and run there the fastest. Because 5 million users have already entrusted us with their shopping. We must take care of them.
When will buying everyday goods go online completely? Or at least 80%.
I believe in 30% in the next three to five years.
The main advantage of the Foodadil service is savings?
The app gives a few things. It also saves money, and time, and creates the feeling that you are well done.
Yes. It is important. And how does it save time?
If you open the application store and read the reviews, you will see that there are two factors: “Thank you, you save time and money.” Time is mentioned as often as saving money.
And so you can go and buy goods without discount.
Not. So I will think where to buy at a discount. There is a transition border from the case “I don’t think about the benefit” to the case “I think about the profit”. I will give an example. We drive a long time. But at some point we begin to drive with the navigator.
Until the moment when you ride with the navigator, you: “I know about where to go home from work. I know about traffic jams. ” But from the moment you realize that you can open the navigator, look at traffic jams, go on a more optimized route, you are already very nervous when you got the phone in the car.
With benefits about the same. When you realize that you can take into account one more layer in your combinatorics, including where the most advantageous offer is now, I will not go just to buy lip gloss, for example. I will think on the beach: “I should wait for discounts for March 8 in my favorite more expensive cosmetic boutique or me ...”. That is, I already have this layer.
Good. Suppose there is a family of three people. They spend 50 thousand rubles a month on consumer goods and do not look at discounts at all. How much money can they start saving if they start using Foodadil?
thirty%. If you start tacking.
How long will it take?
It seems to me that with the help of "Foodad" much less. For 20 minutes, while you go to the subway, you can understand which store you will go to and what you will buy.
About investments and features of working with Yandex
You have attracted investments from Yandex. Initially it was 10% of the company?
10% of the company along with loans. This is still the case. Just the amount of loans increased.
I slightly analyzed the schedule with Product Camp. In a year and a half, you spent about 90 million rubles on performance-marketing?
Estimate is rough. Not less.
Accordingly, they continued to spend the next year. That is, this “Yandex” has invested in the form of some loans?
We are old partners with Yandex. From the point of view of investment, they showed unprecedented power in that they supported the project at the earliest stage, then at the middle stage and now at the scaling stage, when we really see a synergistic effect, which in the coming years we will most likely show nicely.
Have a plan, what indicators should you achieve by 2020?
We are creating a tool for the FMCG market (Fast-Moving Consumer Goods). They are consumer goods. In order to have a business here, we must have a critical mass, the ability to influence sales and opinion, to give a rather interesting analytics slice.
We carry a lot of value for the market. But these values ​​only have weight if they have reached a critical mass of millions of users. Therefore, success is described as the ability to influence 20% of households in Russia. 18-20% will be a good bar.
Do you need 15 million active users per month?
Yes.
Is there revenue?
Now cashback is a transactional model. In this particular model, our revenue is a derivative of the users happiness. If we brought the user happiness for a certain amount of cashback money, this is undoubtedly an indicator of happiness. That and the revenue - is a derivative of this happiness. Therefore, yes, there is revenue. She, along with the happiness of users lies on the devices.
Are you moving now?
In some places - above the plan. When you launch something completely new, you are more likely to get the effect of a self-fulfilling prophecy than a plan.
You have spoken many times about the advantages of partnership with Yandex. Is there at least one minus?
We are limited by the ability to poach employees from Yandex. This is a significant market constraint.
Lure or hire?
To poach. This is a situation in which I initiate a dialogue. And Yandex really needs a person. This is the biggest minus. And I think he is really the biggest.
In Fooddil you invent new formats of mobile advertising, as you said.
Yes. For customers - no doubt.
Is there a chance that you can buy ads in Foodad through Yandex.Direct?
Now advertisements in Fooddil can be purchased through Yandex.Direct, part of its formats. She brings a significant portion of the proceeds.
And what is this format?
These are the formats inside. Direct sales are rather special projects. Such small, not very custom. We have over 40 customers there. We understand what they need, and we do it in many ways with our hands. Constantly customizing: “Do you want to land on a landing page or on a selection of products every time?”
And so you just scroll down and see the Yandex.Direct blocks below. They are available to everyone. We also chose and thought which supplier to put there. In our case, Yandex won.
That is, the market won?
Yes. There was Google and Facebook. Yandex won.
Does Yandex give you traffic?
On the main mobile page of Yandex is our block. We are very proud of him, because he has a very high CTR. This is a very high quality partnership. There is more traffic to our touch-version.
This year's experiment: we believe in touch as a third platform (touch is the mobile web). Touch - that is, an interface with which users will interact in the same way as with a mobile application.
We have a search application "Yandex" with a large audience and a mobile "face". And these are good sources of traffic in touch. We launched it only last year. It is not yet fully functional, has not caught up with the application. But we will gradually catch up.
It seems to me that in a year, MAU touch and MAU of the mobile application can be folded. And the efficiency in the conversion of touch will be, according to my research, the best benchmarks - 15-20%. We are not there yet. But this is the goal.
Read the full transcript of the interview here .
Subscribe to our youtube channel to not miss the next issues of Mobio Talks.
And also subscribe to the Telegram channel for product marketing and get high-quality content!
Source: https://habr.com/ru/post/352744/
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