In Today’s Menu for Knowledge-Hungry Business Professionals 😋…

• Your deliveries will be flying soon

• Startups to use AI for predictive analysis in 2024

• Podcast interview: from banker to tech innovator

• Success story: collaborative innovation, not replacement

• Giveaway marketing

Weekly Catchups

News | Industry Insights | Trends

• 🛸 Flying Deliveries:
  Delivery drones are on the rise for faster online shopping deliveries. Companies like Wingcopter and Drone Delivery Canada are using advanced technology to make this happen.

• ✈️ Airplane De-Icing Market takes off!
  Growing from $1.2B to an expected $1.7B by 2028. Airlines prioritize passenger comfort and use eco-friendly tech to tackle winter challenges.

• 🤖 More AI applications for companies of all sizes:
  leading global software development services survey reveals AI's essential role for 96% of companies in 2024. Startups aim for predictive analytics, while mature firms focus on efficiency.

Nurturing The Leader Within

Personal Development | Success Story

Collaborative Innovation

To most, Anthony Tan's career path seemed destined for success. Born into one of Malaysia's wealthiest families, Tan had a secure future as the head of marketing for Tan Chong Motor Holdings Bhd, Nissan's sole distributor in Malaysia. However, Tan's entrepreneurial spirit led him to explore a path of his own.

While pursuing his MBA at Harvard Business School in 2011, Tan's journey began with a challenge from an Indonesian friend who pointed out the safety issues faced by female taxi passengers in Malaysia. This sparked the idea for GrabTaxi, a mobile app connecting passengers directly with nearby taxi drivers, revolutionizing the chaotic Malaysian urban transportation scene.

Unlike Uber, which disrupted traditional taxi markets, GrabTaxi aimed to collaborate with taxi drivers, providing them with smartphones for direct communication with customers. Tan understood the importance of being a first mover in the market, and despite family disapproval, he launched the app in June 2012 using funds from the HBS New Venture Competition and his personal savings.

Tan's journey wasn't without challenges. Navigating logistical and political hurdles, dealing with unions, government bureaucracies, and even criminal attacks tested his resolve. However, by December 2014, GrabTaxi secured an impressive $340 million in funding, with a significant $250 million investment from Japanese telecom firm Softbank Corp.

The app quickly expanded to 17 cities across five countries, reaching over 3.3 million downloads. Over 650,000 people were using GrabTaxi monthly, resulting in six bookings per second. Tan's approach was unique — he spent time in taxis, conversing with drivers, and introduced technology into an initially resistant environment.

Despite facing setbacks, such as a technology glitch that left drivers frustrated, Tan remained focused on maintaining ethical leadership. As competition, particularly from Uber, intensified, Tan emphasized his commitment to ethical growth and market leadership.

Tan attributes his success to the values instilled at Harvard Business School and the Japanese philosophy of "see yourself, do yourself, cure yourself." He believes in understanding the perspective of taxi drivers, making it a point for GrabTaxi employees to experience a day in the life of a driver.

For Anthony Tan, the journey from a secure role in a family business to the forefront of a groundbreaking tech startup has been rewarding. Despite early skepticism, even from his family, Tan's determination to build something from scratch and positively impact lives has made him a trailblazer in the evolving landscape of the Asian transportation industry.

Strategies | Tools | Marketing Tips

Giveaway Marketing

In today's competitive business landscape, finding effective ways to promote your products and services is crucial. One innovative and cost-efficient strategy gaining popularity is giveaway marketing.

Giveaway marketing is a promotional strategy where businesses distribute products or merchandise through contests to raise awareness about their brand and engage with their target audience. Unlike traditional marketing methods that may incur hefty costs, giveaways leverage the appeal of freebies to create a buzz around your offerings.

Here’s why they work wonders:

1. Generate Leads

Giveaways provide a simple yet effective way to generate leads. By asking participants to join your email newsletter, follow you on social media, or complete a survey, you gain valuable information and potential customers. The incentive of winning a prize encourages participation, creating a win-win situation.

2. Improve Product Exposure

Using giveaway marketing can significantly boost product exposure. By offering your product as a contest prize and utilizing relevant hashtags on social media, you tap into a new audience genuinely interested in your brand. This exposure can lead to increased visibility and brand recognition.

3. Increase Social Media Followers

Giveaways can rapidly grow your social media following. By requiring participants to like or follow your social media accounts for entry, you not only gain followers but also enhance your reach. These engaged followers can later be converted into loyal customers.

4. Engage Existing Followers

Running giveaways isn't just about attracting new followers; it's also a powerful tool to keep your existing audience engaged. Regular contests with exciting prizes give your current followers something to look forward to, fostering loyalty to your brand.

5. Boost Website Traffic

Contrary to the belief that giveaway marketing is limited to social media, a well-executed contest can significantly increase website traffic. Hosting the giveaway on your website and promoting it through various channels can drive potential customers to explore your site.

Don’t Miss It!

Networking | Business Development | Entrepreneurship

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