YEAY : penyedia layanan platform virtual expo untuk membantu pemasaran UMKM kayu dan furniture

I. Business Overview

YEAY is envisioned to be the market leader in virtual expo and gallery provider in Indonesia focusing on helping the micro, small and medium enterprises (MSMEs) in the wood and furniture industry to enter the global market with increased exposure through year-round Virtual Gallery and frequent thematic international Virtual Expos. The platform used for Virtual Gallery and Virtual Expo is in the form of a website that can be accessed easily through desktop and smartphones. YEAY also focuses on helping prospective B2B buyers of wood & furniture products for having a more realistic product visualization, enabling cost efficiency and time flexibility, as well as having a futuristic experience in visiting wood & furniture expo. This entails offering a high-quality, immersive virtual expos & virtual gallery featuring 3D products and Augmented Reality (AR), thereby enabling visitors to vividly envision products' texture, size, and design compatibility with other products.

II. Market

YEAY serves and connects 2 markets: Wood & furniture MSMEs as exhibitors; and prospective B2B buyers of wood & furniture products as visitors. The market potential for wood & furniture MSMEs as exhibitors in 2023 is around 13.276 MSMEs, which will continue to grow until it reaches around 20.489 MSMEs in 2029. Meanwhile, the potential market for prospective B2B buyers of wood & furniture products as domestic and international potential visitors reaches 418.000 visitors in 2023 and is predicted to continue to grow until it reaches around 599.150 visitors in 2029.

III. Competitive Advantage

Unlike generalist competitors, YEAY has strategically positioned itself with a focused differentiation strategy. YEAY has no direct competitors in the focus differentiation group but competes with IFEX, Trade Expo Indonesia, and SimHive on the basis of pricing and product variety. YEAY’s competitive edge is shown in:
- Specialized Services: YEAY! uniquely caters to the specific requirements of wood and furniture MSMEs. Its immersive features and product visualization capabilities set it apart, delivering unparalleled value to exhibitors and visitors.
- Futuristic experience: By applying the latest technology in Virtual Exhibitions in the wood & furniture industry, such as 3D interactive products, Augmented Reality (AR) and Virtual Reality (VR), thereby creating an advanced visualization with futuristic and user-friendly customer experience.
- Enhanced Exposure: Through year-round Virtual Galleries, YEAY allows exhibitors to showcase their products to a global audience with higher intensity. YEAY also holds frequent thematic international Virtual Expo, which keeps visitor curiosity thus encouraging repetitive visits to every Virtual Expo being held.

IV. Growth Strategy

YEAY uses an offensive strategy which focuses on growing in the existing market by increasing sales. In this case, YEAY provides a 7-day free trial to attract more potential paid users. YEAY's sales target is 1,939 exhibitor members, 26,915 visitor members, 3,274 Virtual Expo exhibitors and 70,335 Virtual Expo visitors in the 7th year. To achieve this target, the marketing strategies used are direct marketing (visiting wood & furniture MSMEs communities), repetitive online (social media) & offline advertising (billboards in wood & furniture industry centers), referral program, public relations (partnerships with related associations), as well as using publication media, SEO, SEM and email marketing to attract potential B2B visitors.

V. Financial Projection

YEAY's total funding is IDR 16 billion. However, YEAY! anticipates significant revenue growth over the next 7 years, with the projected NPV of IDR
17,535,566,006, IRR 33.68% and payback period in 5 years 4 months. Therefore YEAY is very feasible to be run. The company aims for sustained profitability and positive cash flow, driven by increased user adoption and expanded offerings.

VI. Conclusion

YEAY is poised for success in the virtual expo industry by offering a specialized, high-quality experience to wood and furniture SMEs and its prospective B2B buyers. With its unique features and robust growth strategies, YEAY! is well-positioned to capture a significant share of this rapidly evolving market. The financial projection also shows a great potential that YEAY may provide to its investors.