Meta Messaging and Commerce Strategy

• Recently $FB / $META organized a Conference called Conversations 2022 which show cased their progress and strategy on messaging including Kustomer acquisition. 

  
  

  Seems like most of Fintweet and US investors are oblivious to it. Heres a thread with the highlights 
  

   

• 1/ Zuck : "Businesses want to be where people are. We saw that with Feed, Stories, now Reels and Messaging. Already more than 1Bn users connect with a business account across $META 's messaging services every week. Users use messaging for discovery, checkout, etc"

• 2/ $META launching whatsapp cloud API. Key features - Any business can customize their experience on whatsapp, speed up response times - Customer to biz conversations grew 50% over last year - $META will provide hosting service, network, compute for free - results from partner

• 3/ Customer experience and improving touch points - 1800 numbers are 1960s technology - teenagers dont read email - 1-2 hours wait time connecting on phone - 7/10 people prefer to connect businesses via msg - 65% ppl feel more connected to businesses that respond over messaging

• 4/ Momentum behind this trend of customer business messaging - By 2025, 80% of customer service orgs will abandon native mobile apps in favor of 3rd party msging platforms - Gartner - 50% of US online adults use chat for commerce - Forrester

• 5/ Takeaway for brands : Brands that have made the switch by embracing messaging as a customer service strategy and are meeting where the customers are have experienced more agent efficiency, customer satisfaction and improvement in marketing and sales.

• 6/ Example 1 : KLM Royal Dutch airlines : call volumes increased by 500% during COVID-19 peak. KLM reduced wait times for most urgent calls to almost 0 by introducing Messaging based automated responses to simpler queries.

• 7/ Example 2 : C&A global fashion brand invested in whatsapp integration in brazil : 50% of their digital revenue in Brazil, which last year was 900M Reals came through Whatsapp

• 8/ Example 3 : Aldi reduced response times for what items are in stock from 3 mins to 3 secs by deploying an AI backed assistant on messenger

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  9/ Example 5 : Indosat inspired by customer service on whatsapp, introduced prepaid services, refills growing revenue 5x

• 10/ The sooner you are able to turn down your call centres (cost centres) to profit centres through messaging by enabling you to upsell and cross sell. Messaging is the best way to generate and qualify leads.

• 11a/ $META portfolio of products to help businesses - WA business app - small business and entrepreneurs. Lightweight business inboxes in messenger / insta - Meta business suite - for larger businesses - omnichannel capabilities to interact cross app wa/msngr/insta

• 11b/ $META portfolio of products to help businesses - Kustomer - omnichannel - messaging first CRM platform comes with many enterprise integrations. - META is working with 100+ partners that help build customizations on top of the APIs META recently closed this acquisition.

• 12/ $META launching a startup accelerator with PlugnPlay - a VC firm

• 13/ "For many businesses whatsapp is their business, its their website, store counter, their livelihood" - Ami Vora, WA VP. Example 6: of an ad on facebook that clicks over to a whatsapp chat. These first party conversions will also be ATT resilient and be first party data

  
  

• 14/ Example 7 : Test feature on whatsapp in Sao Paolo : Businesses can get listed in a directory, right inside whatsapp

• 15/ Example 8 : catalog feature enabling checkout on whatsapp in India. This is how mom and pop retailers are selling in India now, something which US investors have no idea about. "For many people WA is their first e-commerce experience, it is making commerce more accessible"

  
  

• 16/ Example 9 : $GM found a new way to sell cars through whatsapp when COVID-19 forced them to close stores and sales went from 15k to almost 0 across the country. If $GM closes Whatsapp today, they have to open 25 stores to mitigate the volume. The entire CAC can move to WA.

• 17/ $META launching Recurring Messenger Notifications to re-engage customers on Messenger. Throughout testing Recurring Notifications vastly outperformed other channels like email and sms driving sales. Most examples from emerging and developing markets.

• 18/ $META also batted for SMBs : 90% of all businesses and 50% of employment.

• 19/ $UBER CEO Dara also showed up in the conf. $UBER is now thinking as a messaging first company because the real world is messy, there are lot of stakehodlers : eater, courierer, restaurant, rider, driver and messaging works better fundamentally to give a delightful experience

  

• 20/ In India you can call $UBER on WA, its a product WA to Ride. 33% of the riders coming on WA are new riders (for such a well known app like Uber). Huge incrementality working with Whatsapp. Significant younger customer base. Expansion coming to delhi and brazil.

• Thank you for reading, here is the tweet thread