Welcome to the Q3 WABI community update.
It’s been a busy summer for the WABI team focused strongly around business partner expansion, dedicated product optimization, and significant marketing strides to grow awareness of our insights and technologies.
We hope you enjoy the update below and we look forward to updating you with our progress throughout the month of October.
Over the last 3 months, WABI team has significantly upgraded the scope of use cases for WABI. If you still believe that WABI is a supply chain token and is only for anti-counterfeiting labels, you must read this:
In short: WABI has grown to be an efficient value transfer between Consumers and Brands, enabling WABI to tap into general marketing budgets of corporates, which is much broader than the original authenticity-related focus.
Over the past 3 months we focused on making the “Participation provides insights” (first line in the picture above) as valuable for the brands as possible. This is absolutely necessary to enable massive flows of value in the second line “Reward participation with Wabi”. In order to achieve it we’ve launched a list of B2B marketing products and the early results are, quite frankly, exciting.
The latest launched B2B products include: deep social listening and AI-based ads targeting.
Deep social listening - new product
AI analysis of millions of user comments and other brand interactions to determine adequacy of brand communication, real competitors in the minds of consumers and detect emerging trends. Includes 4 parts: magic goggles, factor and sentiment analysis, competition mentions graph, trends detection.
If you want to see a sample report (maybe interesting for a brand you are managing?) you can get it here: https://www.taeltech.com/hubfs/documents/Taeltech_Market entry strategy case study_Sample 1.1s.pdf
We used WABI points to incentivize our users to participate in surveys and testing of the client’s products in order to build the insights above. Thanks to the data gathered we developed multiple deep insights, setting up the client for success in marketing their products in China.
AI-based ads targeting optimization - new product
We utilize online browsing and shopping profiles, offline consumption habits, experimental data-driven behavioral traits (e.g. brand loyalty, social influence, individual price sensitivity) to train our neural-net based recommendation engine to generate user seeds for look-alike marketing in social media.
We recently achieved a 1600% increase in effectiveness (or 94% reduction in cost, depending on how you look at it) for an Australian organic toothbrush product. To build this targeting we’ve used data gathered from our ecosystem users: shopping behavior, survey answers, barcode scans etc. Needless to say, these users have been incentivized in WABI points for their actions. This is just one example of how we turn WABI points incentives to our users to a much bigger value delivered to B2B clients. We are launching a virtuous circle of “more value to B2B clients” => “more WABI points to users” this way.
Here is a more detailed description of the case: https://www.taeltech.com/hubfs/documents/Taeltech B2B-ads optimization v1.4 ENG.pdf
Traction on the new B2B products:
We are already talking with some of the most prominent marketing agencies as well as large brands to promote and use these new B2B products we’ve developed. Recently a big marketing KOL promoted our report, it already resulted in over 100 marketing professionals interested in the product requesting a copy of the report. We are now working on converting these leads into clients and partners.
You can sneak peek some of the other names here.
Odakyu (our partner department store) is already testing our ads optimisation. This potentially opens up an immense number of opportunities, getting WABI points on the list of items in media budgets of large corporates (not only Odakyu) being only one of them.
These B2B products would not be possible without data generated by rewarding consumers with WABI points. The more value we are able to generate with our B2B products for the brands, the more value will go into WABI ecosystem and its growth.
- There are currently 55,656 WABI token users, using the WABI token for day-to-day transactions and purchasing optimization.
- The average number of WABI tokens per user is 56, and there are over 498 active regions throughout Asia with WABI users completing daily transactions.
- 664,231 transactions have been completed by WABI consumers as part of the WABI ecosystem. This number is up over 337% since June 1st.
The WABI token engagement has grown significantly over the summer as we ramped up WABI use-case and partnership development initiatives. For an in-depth look at real-time WABI adoption statistics, visit WABI.io.
Taeltech Finalists In Walmart’s Food Safety Innovation Centre
Taeltech is pleased to announce our position as finalists as part of a Walmart initiative to showcase companies championing global food safety developments.
Walmart’s Food Safety Innovation Centre has chosen Taeltech as one of the 25 finalists. Through our loyalty point system, Taeltech allows users to scan and track an extensive range of products to ensure the integrity of product origin and supply chain journey.
To view the full official announcement, visit the WABI blog announcement.
Partnership With Odakyu Set To Flourish
We’re excited to be able to announce the second stage of our partnership with Odakyu. Till now, we have largely been operating in pre-launch mode. This is set to change. Moving forwards, Odakyu Department Store will provide the Chinese market with a wide variety of Japanese and international products through Taeltech. In addition to this, Taeltech will use our data collection and analysis tools to optimise the Odakyu sales experience across Chinese markets, ensuring the most effective market penetration strategy for Odakyu.
Our full announcement with Odakyu is available here. We will be releasing significantly more information and press releases surrounding our partnership with Odakyu in the coming weeks. We are eagerly counting down the days until we can share more information with you - till then, stay tuned.
Partnership Australia Health Products Central
We’ve partnered with AHCP to facilitate an integrated cross-border e-commerce solution for AHPC to enter Chinese markets. Our partnership with AHPC entails the development of a direct AHPC marketplace platform to assist the brand reach health-conscious consumers across China. In addition to this, Taeltech will provide AHPC with comprehensive brand protection and market experimentation services for their Cellife product marketing and development functions.
Taeltech will gain new functional product listing in the skincare and emerging supplement categories, adding to our extensive and rapidly-growing product portfolio. Furthermore, we gain access to the supply network of AHPC through this partnership, further growing our global partnership opportunities.
AHPC has 30+ years of experience in Australian pharmacy retail and owns a number of highly-prominent products including Cellife a functional supplement brand. In addition to this, they market and distribute major Australian branded supplements and skincare products including Cellane, Kissun, Xenical, Chanterlle, Cancer Council.
Our full announcement is available here.
Partnership + Product Expansion
Over the previous month, our focus has been heavily geared towards expanding our network of actual and potential partnerships. In line with this, we have conducted numerous successful discussions with global department stores, universities, FMCG distributors, and wholesalers.
When looking at the specific numbers, we see the following:
- We listed over 300 new SKUs in August/September, with over 100 new SKUs within the Odakyu zone.
- We published 10 new versions of WeChat mini-programme throughout August/September.
- We achieved 2-10x improvements on COA with our AI-based ads targeting products.
In line with this, we’re expanding our collaboration with university research centers and departments to further the applicability of WABI and to continuously optimise our survey + research offering whilst expanding our network of research partners. With products geared towards marketers and researchers, we feel university collaboration is a highly effective method of ensuring the consistent output of high-quality consumer insights and research questions.
Manufacturer credibility initiative
This month we launched an incredibly exciting initiative to improve transparency surrounding partners and manufacturers, in the form of a manufacturer credibility ranking + scanning interface.
This interface allows active ecosystem participants to scan products and manufacturers for real-time, transparent insights into their credibility, history, and ranking across all other manufacturers, thus providing consumers with clear access to authentic partners.
We’re excited by the capabilities and possibilities made possible by this interface, and the freedom + flexibility it provides to WABI ecosystem participants. By enhancing transparency surrounding our ecosystem partners we take significant strides to grow industry integrity whilst further protecting our consumers from harmful manufacturers and products.
On the marketing front, we have taken significant strides to improve the visibility and awareness surrounding WABI and our project insights.
Last month we launched a new Taeltech website - Taeltech.com - to solidify our brand story and make more clear precisely what our capabilities are.
In addition to this, we’re collaborating with active marketing agency partners to re-sell our experimentation and data services as part of a self-developed affiliate system to grow the interaction with our data suite. We’re incredibly excited by this scheme and we look forward to sharing our results with the WABI community.
Lastly, we’ve started a collaboration with an exceptional marketing agency to drive our B2B growth and spearhead our expansion across Asian consumer markets. Unfortunately, we’re unable to share a name as of yet, but keep your eyes peeled for more information.
We’re continuing to pursue initiatives that improve WABI liquidity and accessibility to traders around the world, achieved through high-quality exchange listings and partnerships.
One step towards this is the launch of a USDT market for WABI on CEX.io. We’ve had a lot of success following our listing on CEX.io, interacting with their fantastic community, and we are incredibly excited about taking this a step further. Markets are live as of now - check them out here.
In addition to our newly-established market on CEX, we’ll be launching on a number of further exchanges in the coming months. If you have an idea for an exchange that we’re missing, let us know on Twitter!
Many milestones have been achieved in Q3 2020 and there’s no stopping. We are incredibly excited by the steps we have taken over the previous months and we’re excited to keep going.
To discuss our progress and upcoming milestones, reach out to us on Twitter - we’ll be on hand for any discussions.
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About Taeltech and Wabi
Taeltech is an authentic consumer insight & engagement ecosystem, built around the Wabi loyalty points, that connects brands with millions of consumers, enabling data-driven marketing. Our suite of products enables brands to build genuine relationships with consumers, boosting brand loyalty, increasing repeat purchasability, and creating the conditions to expand into new product areas. Our ecosystem spans China, Japan, Australia, Singapore, and Europe, and consists of consumers, products and millions of interactions between them. Learn more at www.taeltech.com