MINI FORUM 2024 “The E-commerce Catalysts”

 Introduction

On September 8, 2024, the 11th Gen of CamEd International Business Club hosted a Mini Forum themed “The E-commerce Catalyst” managed by Ms. Kao Pichmoniroath as Project Chair. The Mini-Forum took place at Luca Pacioli, Central Building, 2nd floor, CamEd Business School. The event featured engaging presentations, interactive panels, and breakout sessions designed to explore the e-commerce industry and provide a platform for insights and networking opportunities. The event was successful, with the presence of our honorable speakers: Mr. Chanda Sengkima, Chairman & CEO of Klassy Watch and Executive Committee member of the Securities Investors Association of Cambodia, and Mr. Tin Kolmen, Founder & Managing Director of BigEight Co., Ltd.

Vision

Our vision for the Mini-Forum is to inspire innovative technological advancements that generate online business opportunities for startups considering establishing a web presence. We aim to provide additional knowledge and foster connections among professionals. Additionally, participants will gain a deeper understanding of the e-commerce industry and learn about digital marketing strategies that benefit business owners. Practical takeaways and recommendations will be provided to address current challenges and leverage opportunities within this field.

Mission

The mission of the Mini-Forum is to provide the audience with insight and benefits on how to build a business on a website, key terms, and effective strategies to boost brand awareness in the current and future e-commerce market. Additionally, it explores how digital marketing contributes to the success of an online business and facilitates networking with business professionals, gaining awareness of technological advancements and trends to apply when starting a business. By achieving these goals, the Mini-Forum seeks to contribute to the ongoing discourse and advancement in enhancing collective understanding and action towards the e-commerce industry.

Key Insights from Guest Speaker Mr. Chanda Sengkim

Topic: “Transforming Online Biz with Future Tech” 

Slogan: “Conquer the Digital Landscape” 

He began his speech by providing a detailed background on his business. He mentioned that he initially offered a range of products but later focused on watches as his primary product. He observed that Cambodian youngsters were increasingly interested in modern and luxurious watches and aimed to introduce new styles and fashion to the Cambodian market, rather than just basic watches. Additionally, he outlined his transition from social commerce to e-commerce and his goal to enter m-commerce in 2024. Furthermore, he explained why online business is convenient and crucial for customers and described how he uses social media to build strong relationships with his customers by addressing feedback and implementing solutions to improve services.

• WHY GO ONLINE?

• Low Capital & Risk: Transitioning to online platforms requires only a minimal investment in operating expenses and infrastructure, which helps minimize financial risks and is a more appealing option for many entrepreneurs.

• Infinite Reach: The internet provides vast access to a global audience, enabling businesses to communicate effectively with customers worldwide and create new opportunities for growth.

• Lower Overhead Costs: Online businesses eliminate costs for utilities, rent, and infrastructure, significantly reducing operating expenses.

• Digital Marketing: Platforms like TikTok, Facebook, Instagram, and YouTube offer fast engagement with customers, driving traffic and sales through effective social media marketing.

• FUTURE ONLINE BUSINESS

• Artificial Intelligence (AI): Enhancing customer experiences with 24/7 chatbots for customer support.

• Blockchain Technology: Securing transaction and building trust with customers

• Augmented Reality (AR) & Virtual Reality (VR): Providing immersive shopping experiences, visual try-ons, and product demonstrations.

• Internet of Things (IoT): Enabling personalized marketing based on real-time data.

• MOST COMMON MISTAKE WHEN ENTER E-COMMERCE INDUSTRY:

• Copying E-commerce platforms without effective strategies of promotion

• Lack of tools for data collection from customers and a platform for promoting

• Lack of building audiences

• Inconvenience for Small and Medium Enterprise (SMEs) for registration

Key Insights from Guest Speaker MR. Tin Kolmen

Topic: Revealing the Content Code

Slogan: “Be One-Of-A-Kind” 

Mr. Tin Kolmen gave a speech outlining the overview of his business operations, experiences, and volunteer work. He discussed his core values and explained why many clients trust his companies and are eager to work with him. During the discussion, he shared valuable insights into advanced digital marketing strategies, explaining how effective marketing terms are applied in business, how to follow trends, and how to use references as a foundation. He emphasized the 5P strategies, key elements of attractive social media content, and how to capture both brand and target audience in the digital marketing landscape. Lastly, he advised that "Content is still King," stressing the importance of staying updated with the latest trends and fostering creative thinking to drive greater effectiveness.

• MARKETING STRATEGIES CAMPAIGN TO TARGET AUDIENCE

• R&D (Research & Development): Update designs, logic or digital, be more creative, analyze the market strategies, and identify the key points to target customers.

• Based on data and coming up with a plan: Outline specific tactics, including channels, messaging, and timing. Consider a multi-channel approach that integrates digital, social, and traditional media.

• Think Outside the Box: Make it new, follow or catch up with current trends, or spend money on collaborating with any KOL, and influencers.

• Do things that catch the attention: Make the content viral like video ads, storytelling, or hook.

• PROMOTE SELF-CONTENT

• Start small (Start-Up)

• Pair with expertise

• Anyone can be KOL

• Build connections with physical & online business individuals

Panel discussion: A panel discussion on e-commerce featured two experts from the field, offering diverse perspectives. The session explored topics such as “Strongest Points for Other Businesses” and “In-House Marketing Experiences,” providing the audience with valuable insights. Mr. Ly Chhaingheng moderated the discussion, posing thought-provoking questions and guiding the conversation.

Refreshments Break: A 15-minute break was provided for attendees and guest speakers to enjoy refreshments offered by our club. This break took place on the 1st Floor of the Central Building at CamEd Business School.

Performance: As part of the event, our club presented a special performance to offer the audience a moment of relaxation and entertainment. The performance featured distinguished artists Mr. San Mameng and Mr. Kong Rith, who captivated the audience with their exceptional talent.

Quizzes: To reinforce the key lessons of the event, we conducted quizzes for the audience. The top three winners were awarded tote bags in recognition of their exceptional engagement and attentiveness during the discussions.

Closing Remark: The event concluded with a heartfelt speech by our Project Chair, Ms. Kao Pichmoniroath. She shared her experiences working on the event and expressed gratitude to all guest speakers, CIBC Co-founder, moderator, performers, club members,  and attendees who participated, engaged, and collaborated to make the event a success. 

Conclusion

The Mini Forum 2024, hosted by the CamEd International Business Club, stands as a significant achievement. The event provided attendees with an exceptional experience and a comprehensive understanding of the e-commerce industry, including awareness of technological advancements and effective strategies for their business or future business operations. This success was made possible through the dedicated efforts of our club founder, guest speakers, moderators, performers, project chair, team leaders, club members, and all attendees. Their commitment and hard work ensured the event's success.