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(5) Case: China Strategy for Agoda 案例： Agoda 进入中国的战略

The Networked Economy: Information Management, Strategy, and Innovation 网络经济：信息管理，战略，和创新. (5) Case: China Strategy for Agoda 案例： Agoda 进入中国的战略. Outline 提纲. The company 公司 Mission 使命 History 历史 Present 现状 The Market 市场 Strengths and Weaknesses 优势和劣势 China Entry 进入中国.

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(5) Case: China Strategy for Agoda 案例： Agoda 进入中国的战略

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  1. The Networked Economy:Information Management, Strategy, and Innovation网络经济：信息管理，战略，和创新 (5) Case: China Strategy for Agoda案例：Agoda进入中国的战略

  2. Outline提纲 • The company 公司 • Mission 使命 • History 历史 • Present 现状 • The Market 市场 • Strengths and Weaknesses 优势和劣势 • China Entry 进入中国

  3. Mission使命 • Mission: 使命 • To create a world-class online reservation service that uniquely combines local knowledge and local connections to bring customers the best hotel and travel deals throughout Asia 建立世界级的网络预定服务公司，在整个亚洲范围内，结合当地知识和当地人脉，带给消费者最好的酒店和旅行交易 • Problems we are trying to solve: 我们要解决的问题 • Lack of competitive pricing, selection, as well as availability缺乏竞争性的定价，选择，以及可利用性 • Lack of real-time confirmation (On-request inventory)缺乏实时确认（需求决定库存） • Best prices are offered by unknown brands无名品牌提供最低的价格 • Lack of locally-based customer support缺乏依赖于当地的消费者支持 • Lack of reliable and accurate product information缺乏值得信赖和准确无误的信息

  4. Current customers目前Agoda的顾客群 Customers Nationality – Q1 2007 消费者国籍—2007年第一季度 Customers Destination – Q1 2007 消费者目的地—2007年第一季度

  5. Destinations of current Agoda customers目前Agoda顾客的旅游目的地

  6. History of AgodaAgoda的历史 • 1997: One-person start-up in Phuket 1997：创立于普吉岛的个人公司 • 10 years organic growth (small marketing expenditures) 10年的有机发展（很小的营销投入） • Survived market shocks of September 11, SARS, Tsunami 经历美国9.11, 中国非典和印度洋海啸，依然存活 • Supplier float and a few small investments by owners/managers provided working capital 通过向供应商欠款和从股东/管理层筹集的小笔投资而获得运营资金 • 2007: Global enterprise 2007：国际化的企业 • Operations in Bangkok, Singapore and Manila 在曼谷、新加坡和马尼拉等设立公司 • USD 47 million in Sales 销售额达到470万美元 • 170 full time staff 170个全职员工 • 50 IT Staff 50个IT人员 • 45 Customer Service 45个客户服务人员 • 30 Contracting 30个合同人员 • 15 Marketing 15个营销人员 • 10 Accounting 10个会计人员 • 5 Executive/Admin 5个管理者 • 5 Pricing 5个定价人员 • 5 Content 5个内容编定人员 • 5 Human Resource 5个人力资源人员

  7. Marketplace市场地位

  8. Market Opportunity市场机遇 24.4 13.7 7.8 4.8 4.4 3.3

  9. China competitive landscape中国的竞争性蓝图 • China Players – Ctrip.com & Elong.com中国市场的参与者：携程和易龙 • These players currently dominate the domestic market 携程和易龙目前在国内市场上占有首要地位 • They rely on mostly offline, manual processes for transactions and confirmations 他们交易和确认主要依靠非网络、人工的处理 • Credit cards, visas, Internet-access and Chinese purchasing habits remain an impediment to outbound. As these things change, outbound is likely to gather momentum. 信用卡、Visa卡、互联网接入以及中国人的购买习惯依然是中国人走向国外的障碍。如果这些障碍得以改变，中国人出游可能会突飞猛进的发展。

  10. China competitive landscape中国的竞争性蓝图 • Asiatravel.com (Singapore) Asiatravel.com (新加坡) • AsiaTravel invested in ground handling and low cost airlines in attempt to diversify away from online channel. They have a good network of local hotel contracts with pay at hotel commission model. They’ve had weak growth since IPO due to lack of technical and marketing expertise. They’ve been forced to reconsider plan after success of Wotif and Zuji in Singapore. AsiaTravel投资于地面接待和低成本航空公司，以使网络渠道多样化。他们拥有良好的合作网络，通过佣金的支付形式和当地旅店签订合同。由于缺乏技术和市场方面的专业知识，自从上市后，他们的成长很缓慢。在新加坡Wotif和 Zuji成功后，他们不得不重新考虑他们的计划。 • 2006 Market Value – 52.3M$, 10.7M$ in gross margins, about 2M monthly unique visitors. Growth Rate: 30%2006年市值-5230万美元，毛利率为1070万美元，每月约200万用户，增长率为30%。

  11. China competitive landscape中国的竞争性蓝图 • Regional Players such as Asiarooms.com and Makemytrip.com区域性的参与者，例如 Asiarooms.com和Makemytrip.com • Many of these players purchase on-request inventory through tour operators, and a few local contracts at best. They cannot confirm in real-time and rely on manual workflow. They have strengths in areas such as paid search marketing, foreign language listings, affiliate marketing or key partnerships许多参与者通过旅游运营商和一些地区合同购买按照请求的库存。他们不能实时确认，要依赖于手工流程。他们的强项在于付费搜索营销，外国语言列表，从属营销和主要合作伙伴。

  12. Agoda Positioning Agoda市场定位

  13. Positioning Agoda定位Agoda • Combining the best of the East with the best of the West 结合东西方优势 • Service Oriented以服务为导向的 • 24/7 customer service via online chat, phone and email – human support 通过在线聊天，电话和电子邮件（人工支持），实行24小时/7天不间断客户服务 • Support manual processes and on-request to get confirmations and more selection in difficult and immature markets – going the extra mile支持手工程序和按请求来确认，同时在困难和不成熟的市场提供更多的选择——走的更远些 • Innovative, Technology-driven以技术为导向的创新 • XML and inventory selection system XML和库存选择系统 • CRM & Agoda Rewards Loyalty Program CRM 和忠诚度奖励计划 • A/B and Multivariate testing of website 网站的A/B 和多元试验 • Enable suppliers to manage their inventory online使供应商可以在线管理他们的库存

  14. Agoda is the local Asia expert: Insider deals, inside knowledge, inside AsiaAgoda是亚洲地区的专家：内部交易，内部知识，内部亚洲 • Founded and raised in SE Asia 在东南亚建立和发展 • Independence means better selection and better rates – not controlled by global cartels or airlines 独立意味着更好的选择和更好费率 – 不被全球的卡特尔和航空公司控制。 • Relationship driven, 10 years experience 关系导向，10年经验 • Built and run by travelers for travelers 由旅游者为旅游者建立和运营 • A web community for travel transactions 一个旅游交易的网上社区 • Branded and trusted 品牌和信任 • Homegrown low cost vs. outsourced国产低成本与外包

  15. Business Model商业模式

  16. Business Model商业模式 • 2007年4月预测数据总体日常指标 33,644流量指标 搜索引擎 12,695CPA和合作伙伴 6,546CPC和CPM 6,108 品牌指标   8,295总体日常指标 33,64430天总体日常指标 1,009,313特殊日常指标 605,588月转化率 3.48%每月预定 21076成功率   44.80%每月成功预定 9,442每个预定的均价 $331每月现金收入在退订前 $3,121,003年现金收入   $37,452,036

  17. Business Model商业模式

  18. Business Model商业模式 • Traffic Drivers流量动因 • Market growth 市场增长 • Sign up new distribution partners such as Yahoo, Sidestep, media partnerships and affiliates 签约新的合作伙伴例如as Yahoo, Sidestep, 和媒体伙伴 • Grow search engine referrals for existing sites 对目前网站增加搜索引擎保证金 • Launch local websites (other languages) 开发地方网站（其它语言） • Community, viral, referral, social networks (content) 社区，病毒式传播，推介，社区网络（内容） • PR promotions and advertising to drive brand-awareness and SEO公关推广和广告来提升品牌认知度和

  19. Business Model商业模式 • Conversion Drivers转化动因 • Multivariate testing 多元测试 • Multicurrency & localization 多样化和本地化 • Brand recognition, community & loyalty 品牌认知，社区和忠诚度 • Co-branding with trusted partners 与值得信任的伙伴的品牌合作 • Contracting efforts and XML integrations drive pricing, availability, more flexible cancellation policies 合同订立和XML集成导致价格，可靠性和更加灵活的取消政策 • Improve product information 改善的产品信息 • Packaging, airlines and other products (cruises, rental cars, insurance)包装，航空和其他产品（邮轮，租车，保险） • Alternative payment models 其他可供选择的支付模式

  20. Business Model商业模式 • Post Booking Success Drivers预定成功动因 • Workflow/operations enhancements 流程/运营的加强 • Contracting / XML to drive real-time percentages and drive automation 合同制/XML 来驱动实时的百分比和自发性 • Average Transaction Size Drivers平均交易量驱动 • Increase in real-time supplier relationships to help deliver longer stay, higher value markets, transaction types加强实时供应商关系来帮助实现 更长的停留，更高价值的市场和交易形式 • Packaging & Bundling包装和捆绑 • Supply Chain innovations for upselling为销售服务的供应链创新

  21. Business Model商业模式 • Margin Drivers 利润驱动 • Multicurrency 多元化 • XML contracting efforts to drive high margin groups and markets XML 合同来驱动较高的利润 • Supply Chain innovations for last minute, long-stay 以留住客户为目的的供应链创新 • Scale规模 • Adding packaging of airlines, tours, cruises, transfers, car rental, and insurance will increase margins on hotels as well as conversion rates增加机票，旅游，游艇，租车和保险的打包服务将会增加在酒店的利润和转化率

  22. Business Model商业模式 • Agodamodel is all about low-hanging fruit Agoda模式全部与唾手可得的服务有关 • A SideStep partnership could increase bookings by 10 to 15% upon implementation SideStep合作伙伴关系可以增加10-15%的预定率 • Localization and multi-currency plus multivariate testing can increase conversion rates by over 10% within the next few quarters 本地化和多元化及多元化的测试能够在下几个季度增加10% 以上转化率 • Transitioning existing on-request suppliers to real-time will increase confirmation rates by 10% within the next few quarters 从根据请求供应商到实时供应商的过渡在下几个季度增加了10%的确认率 • Renegotiation of merchant relationship can increase margins as much as 1%, allowing more aggressive pricing 商业关系的重新谈判可以增加1%利润，容许更加有利的价格 • Adding packaging of airlines, tours, cruises, transfers, car rental, and insurance will increase margins on hotels as well as conversion rates增加机票，旅游，游艇，租车和保险的打包服务将会增加在酒店的利润和转化率 • ‘Low-hanging fruit’ yields significant increase in revenue唾手可得的服务促使收入显著增长

  23. China Entry Strategy进入中国市场策略

  24. China Entry Strategy for Agoda. Step 1: Background and QuestionsAgoda中国市场进入策略。步骤一：背景与问题 • Background: Market opportunity背景：市场机会 • Forecasts that support the need for hotel bookings for Chinese traveling abroad市场预测有力支持了中国游客境外游酒店预订需求 • Step 1: Formulate relevant questions步骤一：设置问题 • E.g., Chinese hotel booking habits例如：中国游客消费习惯 • How do Chinese make decisions about booking hotels abroad?中国游客是如何做出境外酒店预订决策的？ • Tour vs individual参团游 与 个人游 • Offline vs online 线下与线上 • Between one site vs another?在一个网站与跳到另一个网站

  25. Chinese hotel booking habits中国游客消费习惯 • How do Chinese make decisions about booking hotels abroad?中国游客是如何做出境外酒店预订决策的？ • Tour vs individual参团游 与 个人游 • Offline vs online线下与线上 • Between one site vs another?在一个网站与跳到另一个网站 • Currently: Agencies目前的：代理商

  26. Reputation口碑 • What are the elements of reputation?口碑的组成元素？ • Reputation of the hotel酒店的口碑 • Reputation of the booking companies预定公司的口碑 • Price and reputation价格和口碑 • How much of a premium gets paid for a top reputation?一款顶级产品因为其及佳的口碑应该被付多少钱？

  27. Leveraging competitive advantages • Competitive advantages of AgodaAgoda的竞争优势 • Inventory :25k hotels25000个酒店 • High level of service高水平的当地服务 • State of the art booking technology先进的预定技术 • Instant confirmation, XML, RSS with hotels即时确认，XML，RSS • User created content 用户自己产生的内容 • Agoda to emphasize its regional (SE Asia) advantagesAgoda强调它的地区优势 • Partnerships relevant相关的合作伙伴关系

  28. Mitigating disadvantages削弱劣势 • Competitive disadvantages of AgodaAgoda的竞争劣势 • Understanding Chinese habits了解中国的消费习惯 • Booking phase 预定方面 • Traveling phase旅行方面 • E.g., tips 例如：技巧 • Language 语言 • How to overcome those?怎样克服这些劣势？ • Chinese staff 中国员工 • Style and culture 形式和文化 • User Interface用户界面 • E.g., Sinavs Google 例如：新浪和谷歌

  29. Risk风险 • Chinese competitors中国的竞争对手 • Clarify: What inventory to they have?明确：他们有什么库存？ • Legal risks法律风险 • Reputation risk口碑风险 • Attribution: War stories归属：战争故事 • Other其它 • Payment 支付 • Credit cards 信用卡 • Visas to other countries 其它国家签证申请

  30. Partnerships合伙 • How should they be structured 他们是怎样组成的？ • Commission based?佣金以什么为基础？ • Dimensions维度 • Online presence of Chinese partner, or not?中国合作伙伴在网上露面或不露面？

  31. Several constituencies几种顾客 • Travelers游客 • + Have money to travel abroad有钱出国游 • - Not comfortable on the web不习惯上网 • Internet generation互联网一代 • + Comfortable on the web习惯于网络 • - Don’t have money to travel abroad没有钱出国旅游 • Agency代理 • + Have trust of customer被顾客信任 • + Have payment infrastructure有支付设施 • - Need to be paid需要被付费

  32. Additional services附加服务 • Speaking tp与对话 • Local escorts地陪 • Shopping guides购物指导 • Night specialitesi夜间特色 • Insurance?保险 • 24/7 phone support?24/7 电话支持 • Ctrip: 2/3 via call center (not Web)携程： 2/3通过呼叫中心（非网站）

  33. Step 3: Create strategic options and concrete first steps步骤三：给出战略建议及具体实施步骤 • Suggestion: Consider players and potential partners in Chinese market建议：考虑潜在的竞争和合作者 • Local travel sites 当地的旅游网站 • E.g., Ctrip.com, Elong.com携程，易龙 • Media Companies媒体公司 • Offline Chinese Media company线下中国媒体公司 • E.g., CCTV, FocusMedia, Newspapers,… 中央电视台，分众传媒，报纸 • Online Chinese media company 在线中国媒体公司 • Sina.com, Yahoo.com.cn, Sohu新浪，雅虎，搜狐

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