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Robinhood from Food Delivery to Super App and Advertising Platform

Robinhood has set its sights on becoming a Thai-based super app in Southeast Asia with a monetization model through the digital advertising platform. It is working with technology partner Accenture Song, whose experienced team support and data-driven capabilities allow Robinhood to provide customised products and services for diverse users. To reach more local advertisers, Robinhood Advertising will be represented by GroupM (Thailand), dentsu international Thailand, and Entravision MediaDonuts Thailand. 

“Together, we are laying the foundation to redefine platform advertising” said Srihanath Lamsam, Chief Executive Officer at Purple Ventures Co., Ltd. (Robinhood), He said that Robinhood has disrupted Thailand’s food delivery industry with its unique business positioning and attractive platform capabilities. In less than two years since its launch, Robinhood has risen to become the second most popular food delivery service provider in the Greater Bangkok area. “Our collaboration with Accenture Song will extend this important work, paving the way for Robinhood to continue to deliver the best experience for our users,” said Srihanath.   

From Food Delivery Platform to Super App

First launched in late 2020 with a Robinhood Food Delivery service, the platform has over 225,000 stores listed, over 3 million registered users. To become a super app, Robinhood needs to have all services included food delivery, travel, mart, express, and ride-hailing. 

It has launched Robinhood Travel and plans to introduce three other services within this year. Robinhood Mart will be available in August 2022, Robinhood Express in the third quarter, and Robinhood Ride-Hailing in the last quarter. 

Its second service, Robinhood Travel, is set to be an all-in-one travel service portal for hotel, tours and leisure activities, car rental, and flight booking services. It has been successful with more than 16,000 locations for three to five-star hotels in 71 cities nationwide with an average daily rate of Bt5,300, and more than 20 strategic partners offering over 620 sources of inspiring content for travellers.

Being a super app gives Robinhood the potential to become a powerful digital advertising platform, with a significant number of urban customers, for marketers and brands. 

About 49 per cent of over 3 million Robinhood users are in the upper middle class (with a monthly income of at least Bt 50,000), and wealthy people (with an income of Bt150,000 per month). Many of them are digitally savvy and urban millennials. Seventy-five per cent of the customers are aged between 20 and 39. The largest basket size is Bt100-200, followed by Bt 200-300 and Bt 300-500. 

Robinhood’s value proposition involves high-value users, accurately targeted audiences, 100% brand safe, and fraud free with secure digital transactions. 

Sarun Chinsuvapala, Head of Marketing at Purple Ventures Co., Ltd. (Robinhood), said that with knowledge of customer addresses and spending, the Robinhood app is efficient for targeted advertising. The real-time programmatic bidding empowers marketers and brands to target the right audiences. It helps them select who they want to see their ads based on demographic data, food preferences, and purchasing behaviours at frequent locations.

Super app and ads platform

Robinhood Advertising services are available in four places reaching the intended audiences at the right moment Super App Home Screen featuring all four pillars of services; Service Landing Page, now for food and travel; Search Landing Page, search category screen of each service; and Delivery or Final Confirmation Screen. 

Its services come in four types of ads. Premium Ads, maximising brand awareness through a premium banner, with a 100% SOV; Native Ads, attracting customers as they browse through the Robinhood App’s services & post orders; Native-Delivery, making the most of users waiting time with an ad on the delivery screen; and Interstitial as Pop-up Ads.

Super app is the key first-party data in the cookie-less world. Robinhood has the potential to become a powerful digital advertising platform with powerful first data.

Accenture Song points out that now data-reliant advertising is moving into a cookie-less world where consumers have the power to dictate how they want to receive marketing content and experience becomes key. 

In a cookie-less world, third-party data are not allowed. For example, Firefox and Safari no longer support third-party cookies. As part of Apple’s iOS 14 update in 2021, iPhone iOS users will now be required to opt-in to “allow tracking” of advertisers. 

Google Chrome will no longer support third-party cookies. Google suggested first-party data to replace third-party cookie sharing. In the future, more browsers and platforms will stop supporting third-party cookies. 

According to Accenture, advertisers must establish new ways or partners with first-party data to find relevant audiences for launching their campaigns. 

The major challenge for advertisers who do not have access to their own first-party data is to figure out the right party, or even parties, to partner with. Publishers and enclosed ecosystems will gain substantial power. 

Super apps are among the most powerful sources of first-party data. Accenture defines a super app as a technology platform with many loyal users that offer a wide array of services, including financing, payment wallet, delivery service, communication, convenient service, and entertainment. 

Super apps like Robinhood have an opportunity to take the growing consumer demand for data privacy as an inevitable necessity and offer value in exchange for data. In doing so, it will become a powerful valued partner to advertisers and to consumers. 

Super apps offer a desirable environment for effective advertising due to their data-driven framework with quality data collected, innovative and intuitive advertising experience, and effective targeting of customers.

In 2022, digital advertising spending is expected to grow by 9% to reach Bt27 billion, pushing brands to rapidly reimagine their digital innovations.

Robinhood Advertising

Accenture Song’s Southeast Asia lead, Thomas Mouritzen, said that Accenture Song (formerly Accenture Interactive) will accelerate Robinhood Advertising to be an ad-suite platform powered by data insights and analytics technologies to support advertisers in multiple areas of digital marketing optimisation. 

The collaboration is a significant part of Robinhood’s new roadmap for sustainable growth, focused on helping businesses and communities thrive amidst disruption. It also furthers Robinhood’s ambitions to grow into a super app that provides services beyond food delivery in Thailand.

“Our creativity, technology and intelligence will support Robinhood’s next phase of growth in Southeast Asia, adding more relevant experiences to their ecosystem,” said Mouritzen.

Robinhood Advertising has started empowering early adopters across various industries to take charge of their business and marketing goals through the tech-driven ad suite platform for greater brand awareness.

Among them are furniture retailer Index Living Mall, electric vehicle lifestyle platform EVMe, vitamin-fortified beverage Vitza, and video streaming provider Viu. Merchants on the platform can soon look forward to growing their visibility through self-service advertising tools, allowing greater autonomy and management of ad inventory. 

Sarun added that Robinhood Advertising is able to support merchants, riders and high-value customers better. This collaboration follows the recent announcement of Accenture Song, a brand evolution that symbolises the company’s focus on helping clients accelerate growth through relevance.

Robinhood sets its sights on generating advertising revenue of Bt50 million by the end of 2022, and Bt150-180 million by the end of 2023. It also plans to expand Robinhood services and advertising to the Southeast Asian region by next year through collaboration with local strategic partners. Several business models will be finalised later. 

For more information, please contact: [email protected]

For Robinhood Advertising, brands can contact: [email protected]

Find out more at www.robinhood.co.th/ads

 #Robinhood #RBHSuperAppRiseAndThrive #RobinhoodAdvertising

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