An opportunity for businesses to drive growth through Technology
Recently announced at the LINE Conference Thailand 2023, or LCT23, LINE Thailand’s tech vision, direction and strategies reflect a genuine commitment to improving the lives and businesses of Thai people. With the focus on becoming an “Open Platform for the Thai People,” LINE Thailand unveiled its roadmap for the delivery of new solutions and services, to support business growth in three major categories:
Developing a customer data tools
With primary tools like MyCustomer, managing business-oriented data has never been easier. MyCustomer acts as a data processor for Thai brands, facilitating full and efficient management of 1st party data. It can ensure that data management is aligned with the time frame and scope of use to which the consumer has consented, allowing Thai brands and marketers to leverage data confidently, whether through the retargeting of strategies or data-driven CRM.
LINE plans to launch MyCustomer tools for CRM, specifically to assist Thai marketers in segmenting customers based on insights. This will allow brands to tailor their communications and marketing strategies, including identifying ‘lookalike’ customer groups, to expand their customer base. Some initial features will include point, reward and tier management.
In addition to targeting large enterprises, LINE also plans to introduce MyCustomer for Thai SMEs, with basic features that will help both medium and small-sized businesses use data to drive growth. The tool is slated for launch in the first half of 2024.
Ads Improvement, Enhancing the Efficiency of Advertising on LINE
(1) Persona Targeting, a tool that enables advertisers to target their audience in the LINE Ecosystem, based on specific user persona, which currently are interests, purchase intent and user behavior. The results have been proved to be satisfactory with an increase of up to 63% in the Click-Through Rate (CTR) and a 22% increase in Conversion Rate (CRV), along with a reduction in Cost Per Acquisition (CPA) of up to 35% and Cost Per Click (CPC) of 23%.
In the future, LINE plans to develop persona targeting, to enable brands to identify the characteristics of their target groups more finely and deeply. For example, purchase behaviors, like average purchase amounts, payment methods, as well as online shopping behaviors,such as frequency of online shopping, the last time they shopped and online shopping category (fashion, travel items, health products etc.). This persona targeting aims to make advertising on LINE more accurate, cost-effective and efficient than ever before.
(2) The integration of 3rd Party Data, to enhance advertising on LINE, in collaboration with leading marketing agencies like ADA Thailand. This enables brands to reach their target groups more accurately and comprehensively. The results have proved satisfactory for the three business sectors which have tried this feature in the past year, including a 51% decrease in CPA for the banking and financial sector, a 67% decrease for the tech and telco sector and a 56% decrease for the retail and e-commerce sector.
(3) Leveraging data from LINE SHOPPING, to create the target audience for advertising on LINE by enhancing LINE Ads system’s new capability, called Conversion Ad for LINE SHOPPING. This enables Thai marketers, who advertise through LINE Ads, to track customer behavior and insights on their LINE SHOPPING journey. This information can then be used to categorise target groups for advertising through LINE Ads precisely and effectively, without the need to set up independent tracking and reporting systems, as LINE already offers such systems.
Various APIs & Plug-ins to serve Thai businesses with specific needs
While these tools are mainly for Thai developers, they can also be beneficial for brands and marketers. Knowing the basics can make teamwork within a company easier.
(1) LINE SHOPPING API – This has recently been launched for Thai developers, allowing them to link a variety of APIs to improve sales on LINE SHOPPING. This includes a Product API, which manages product details, and an Inventory API, which manages stock etc.
While numerous stores are using the LINE SHOPPING API, with about 16% of total orders and 22% of GMV (Gross Merchandise Value) being created by the LINE SHOPPING API, LINE is developing a new API which will make selling on LINE SHOPPING even easier and faster.
(2) LINE OA Plus Plug-in Store – The marketplace for business solutions to enhance tools under LINE OA Plus, which are MyCustomer, MyShop and MyRestaurant. It will further support Thai businesses and marketers by offering a variety of tools to address specific needs. The feature aims to deepen the capabilities of businesses operating on LINE by offering diverse solutions. The LINE OA Plus Plug-in Store will officially be launched next year.
In addition to these 3 toolsets, another highlight is a new service called LON, or LINE Official Notification, a notification message which will be sent via LINE OA based on the user’s phone number. The notifications could be confirming payments, bookings, or updating service status. It allows trustworthy messages to be sent to users through LINE, even if they are not friends with that particular LINE OA, building customer confidence that the messages are neither fake nor scams. In addition, it will increase the chances for users to add brand’s LINE OA as a friend.
All of these new services and features offer great opportunities for Thai businesses. LINE is committed to developing new tools to help businesses use data and technology to their full potential to grow in the digital world.
For more updates on new tools and information on how to use LINE for business, please follow LINE at @linebizth, Facebook and LinkedIn: LINE for Business.
#LCT23 #LINEforBusiness #LINEThailand
