Global Online Marketplaces 2019 Recap

Global Online Marketplaces 2019 Miami Recap

Posted on by iovoxPosted in Featured Articles

At iovox, we are proud Gold Sponsors of the Global Online Marketplaces Summit, and each year their events never fail to deliver. Last month, we had a phenomenal time talking about call tracking in marketplaces at the Global Online summit held in Miami Beach. The conference theme was, “From advertising to transactions: How marketplaces create greater value” and was held at the iconic Miami Beach EDITION hotel. We’ve captured some of our takeaways here for those of you that were unable to attend.

How marketplaces are taking strides to create greater value

C-Level speakers from around the world from companies such as CarBoat Media, LatAm Auto, Google, Apimo, Recruitology, James Edition, OLX Group, and El Classificado took the stage at the event. Key topics discussed included; strategic trends, moving closer to the transaction, the evolution of classifieds, growth opportunities in non-traditional revenue streams, privacy, security and innovation among many others.

This year we were fortunate to have David Coleman-Jones from Auto Trader UK share the stage with our co-founder and CEO, Ryan Gallagher. David leads Auto Trader UK’s Pay As You Go business for both trade and consumer customers and the company has used iovox technology for more than 7 years. Together, Ryan and David discussed how call tracking is being used to build market leaders and increase revenue in marketplaces.

Call masking, call whispers, call tracking & analytics are some of the tools Auto Trader UK uses to help increase their revenue and reach their goals.

How the tools are being used:

  • Call masking: Used to protect Auto Trader UK sellers’ numbers from nuisance callers as well as build trust in Auto Trader UK as a platform.
  • Call whispers: Short, seconds long recordings played when a seller receives a call from Autotrader which not only prepares the seller for the call but also massively drives brand awareness.
  • Call tracking and Analytics: Auto Trader UK uses call tracking to track calls not only to their website but also to approximately 3,500 Auto Trader powered dealer sites. Call analytics better enables Auto Trader UK’s conversations with customers around lead prioritization and problem solving as well as helps them get closer to the transaction.

David shared goals that Auto Trader UK has to significantly improve efficiency in the automotive marketplace, how they are striving to become for new cars what they are to used cars and how iovox technology is helping them get there.

A big shout out to David for joining us in Miami Beach at this year’s event! If you would like to watch the presentation in full you can check it out here:

#gomsmia19- an overview:

Over the 3 days, team iovox sat in on fascinating chats from Ariel Lebowitz, Global Head of M&A, OLX Group, Jonathan Turpin, Principal at the AIM Group, Toby Chapman and Mostyn Goodwin, Partners at OC&C Strategy Consultants, Renata Lorenz, Chief Operating Officer at Grupo Zap (Brazil), Simon Bray, CEO – Marketplaces, LIFULL Connect, Jorge Mejia, CEO of LATAM Autos (Mexico, Ecuador), and Deborah Salons, Senior Product and Privacy Counsel, LetGo (USA and part of Naspers Group).

Key topics discussed from some of the above speakers at the conference were; moving closer to the transaction, success in diversifying product offerings, data protection, trust and privacy, and the tools being used to achieve business goals.

Moving closer to the transaction:

Classifieds and Marketplaces are in the process of shifting closer to the transaction, meaning it’s not just about leads, but actually participating in the transaction generated by those leads.

Successful examples that were shared included:

  • Financing/Credit: some marketplaces are starting to help finance the purchase of the assets they are advertising, specifically in real estate and automotive, through partnerships with banks or through their own systems. For example, MercadoLibre has developed Mercado Credito and Mercado Pago.
  • Providing adjacent revenue generating services such as insurance and warranties.
  • Facilitating easier transactions with digital contracts and GPS tracking tools.

Data protection, trust and privacy issues:

Focusing on safety and trust must be a key concern for marketplaces. In order for a marketplace to be successful, it is critical to integrate privacy solutions into the product so that users have meaningful control of their data. It is also important for marketplace providers to fully understand and anticipate how different regulations might impact product design. Last year GDPR was all the rage, but The California Consumers Protection Act (“CCPA”) regulation is coming to the US and Brazil will soon impose its own data privacy regulation as well. Marketplaces need to comply with global regulations, and this is only going to become increasingly more important. Speakers highlighted the importance of Artificial Intelligence and Mobile Apps which are thought of as key tools that will allow marketplaces to optimize the user experience, match buyers with sellers and find success in their goals of getting closer to the transaction.

What’s Next?

At iovox, we’ve been providing unique solutions to marketplaces and directory services all around the world in a variety of vertical markets, such as automotive and real estate. We are always just an email or phone call away to help assess whether we can help your business.

As you can see from this Tweet, we try not to take ourselves too seriously, however we do take serving our customers very seriously!

We had a fantastic time listening, learning and sharing in Miami and we cannot wait for the next marketplaces conference in Madrid, November 12-15 with the theme of “Disrupt or Be Disrupted.” For more information on the upcoming event please visit: https://ompconferences.com/event/madrid-conference-2019/

We look forward to seeing you there!

We help companies and individuals increase their revenue and improve their productivity with unique call tracking solutions. We are unique to the industry for our ability to track inbound and outbound calls, particularly from mobile phones. We are global, with customers in more than 30 countries and offices in London, Paris, San Francisco, and Sydney. Download our free app for Android or iOS, and learn more about our other services at www.iovox.com.

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