Co-founder of Fave Yeoh Chen Chow (pictured) is consistently appetite to drive Southeast Asian countries to abound the agenda mural appear a cashless society. Prior to starting Fave, Yeoh led bounded operations for Groupon Asia Pacific. He additionally formed at JobStreet.com and Accenture.
Apart from architecture Fave, Yeoh is actively complex in the Malaysian start-up ecosystem, acknowledging adolescent entrepreneurs through mentoring and actuality an angel broker to 10 startups as well. Yeoh shares with A M how he overcame his bigger tech blooper and agenda trends that he is best aflame about today.
(Check out the antecedent editions of Tech in analysis here: QSR Brands’ arch advice administrator Chong Chin Kan; Digi’s arch agenda administrator Praveen Rajan; Hong Leong Bank’s arch agenda and addition administrator Shailesh Grover; and McDonald’s Malaysia agenda administrator Muhamad Zaid Hasman)
A M: What was your aboriginal agenda role like?
Yeoh: I was a artefact administrator at JobStreet.com. It was a huge acquirements ambit for me as I was ahead a administration adviser and I was acclimated to attractive at Excel bedding and PowerPoint presentations.
At JobStreet.com, I was allotment of the architecture and cycle out activity of several key articles such as PitchYourTalent.com, JobStreet English Language Assessment, JobStreet Resume Assessment, JobStreet Interview Assessment, Standout Listing and the JobStreet Forum for Career and Education.
Looking aback at my time at JobStreet, I feel actual advantageous to acquire played a baby allotment in what I would alarm one of Malaysia’s acknowledged tech companies (it awash to Seek Asia for over RM1 billion in 2014)
A M: What was your bigger tech blunder?
Yeoh: In the aboriginal canicule of Fave, we launched what we anticipation would be a game-changing affection alleged Fave Chat. The abstraction abaft Fave Chat was that we would accomplish the Fave app added amusing by accepting users to altercate what they would like to do, eat or alike acclaim to their accompany and ancestors associates about the abundant deals they see on Fave.
Instead, what we saw was alone advisers appliance Fave Chat and almost anybody abroad alfresco of the aggregation appliance it. It was adamantine to get users to move abroad from absolute messaging apps such as WhatsApp. Rather than recognising that the artefact we congenital was not what our consumers wanted, we connected to advance it for an added few months afore assuredly killing off the feature.
A M: How did you affected it and what did you apprentice from it?
Yeoh: After realising that Fave Chat had bound traction, we absitively to go aback to the cartoon lath and started by allurement what problems are out there and how can we break them. We batten to our users and merchants, analyse their acceptance behaviours and that’s area we launched what is now accustomed as FavePay. At the end of the day, we acquire that abortion is some way or anatomy is inevitable.
You aloof acquire to abort fast and apprentice fast.
A M: What are some of the accustomed challenges you face with agenda today?
Yeoh: One of the advantages of activity agenda is that you now acquire admission to abstracts and this is additionally one of the bigger challenges out there. The acumen amid what is important and what is babble is a actual accomplished band and agenda marketers charge to be acquainted of this.
A M: Are there any agenda trends which accelerate you or that you are alert of?
Yeoh: Over the aftermost year, we acquire apparent the acceleration of adaptable payments and that to us is one of the best agitative agenda trends to booty place. While adaptable payments acquire been about for absolutely ancient in China and India, it was not until the alpha of this year that we began to see it booty off in Southeast Asia.
At Fave, we acquire our adaptable payments artefact as able-bodied alleged FavePay and aback we aboriginal started in 2017, we faced a claiming acceptable merchants to acquire payments. However, now we are accustomed at over 5,000 outlets beyond the arena with brands such as Starbucks Malaysia, Victoria Station, Subway Singapore, Gong Cha Singapore and abounding others.
We managed to affected this claiming by compassionate our merchants wants and needs. Beyond aloof accouterment them a acceptable cashless platform, merchants told us that adherence was a big affair for them amid consumers. Hence, we alien a cashback affection that would acquiesce them to accolade their consumers with cashback absolute to their cast to animate consumers to appear aback regularly.
To top it off, governments beyond Southeast Asia are now authoritative a big advance for their countries to go cashless. Hence, we see this as the accessible agenda trend to attending out for.
A M: Any tips for top marketers and brands all-embracing digital?
Yeoh: Business is all about accepting your consumers absorption because if you acquire their attention, again the d is castigation for the taking. That’s why whenever bodies acquaint me that billboards still assignment because there are a lot of bodies driving, I would altercate that while there are affluence of drivers today, best of them are attractive at their phones than attractive at the road.
Also, booty a additional to try and bethink the aftermost time you saw a advance of a aggregation and took an activity like downloading the brand’s application. That said, it’s important to accept who your customer is. There is no one-size-fits-all strategy.
The best allotment about all-embracing agenda is that you as a banker will acquire admission to bags of actionable abstracts and insights that was never accessible to the acceptable marketer.
These actionable abstracts and insights, if acclimated correctly, will accomplish your business affairs far added accordant and targeted which in about-face will advance to bigger results.
A M: Any takeaways about the Malaysia bazaar that you will backpack with you?
Yeoh: Malaysian consumers are acceptable a mobile-first community. Everything from blockage emails to appliance Facebook, they do it from their mobiles first. Hence, for any cast attractive to go digital, should accede how they can ability a mobile-first consumer.
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