Tag Archive | "Autonomous"

Autonomous Driving for Trucks Will Happen First, Says Full Truck Alliance CFO

“Our view is that the commercialization of autonomous driving for passenger vehicles will probably take a bit longer than people would think,” says Richard Zhang, CFO of Full Truck Alliance. “We think the commercialization of autonomous driving for trucks will probably take place a lot sooner than it will take place in the passenger car vehicle sector.”

Full Truck Alliance is a multi-billion dollar valued company that is becoming the Uber of trucks throughout China. The fragmentation of the trucking industry in China between independent truckers and shippers has resulted in an empty load rate of over 40 percent, about four times higher than in the United States. The Full Truck Alliance app and online platform connects shippers to truckers in real-time enabling huge reductions in empty loads.

Richard Zhang, CFO of Full Truck Alliance based in China, discussed the company’s future in an interview on CNBC International TV this morning:

Full Truck Alliance in China is the Uber for Trucks

The problem we’re trying to solve is very simple because there are high inefficiencies between matching with the truck drivers and also matching with the shippers. The empty load rate in the US is only ten percent while the empty load rate in China is 40 percent. The empty load rate is very similar to the vacancy rate in the hotel business. The reason is that the market here is highly fragmented. You have highly fragmented truck drivers and highly fragmented shippers, lots of SMEs.

Before we came into existence the matching between the truck drivers and shippers were taking place across a thousand offline marketplaces in China. What we have been trying to do is bring that offline marketplace online and use our algorithms in the back office to match automatically the truck drivers and the shippers. We are trying to reduce that empty load rate to well below 40 percent.

Monetization Via Membership and Uber-Like Fees

Our monetization strategy for Full Truck Alliance is as a product of a merger between two companies, Truck Alliance and also Yunmanman a little over a year ago. Post-merger we started monetization and the monetization takes place in two ways. Number one is we are charging a membership fee for the shippers and also very similar to Uber or DiDi we’re charging a take rate on the transactions themselves.

We were very close to achieving our 2018 profit objective. We are actually very marginally close to break-even at the current moment and we have no doubt that we’re going be making earnings in 2019.

Autonomous Driving for Trucks Will Happen First

Our view is that the commercialization of autonomous driving for passenger vehicles will probably take a bit longer than people would think. We think the commercialization of autonomous driving for trucks will probably take place a lot sooner than it will take place in the passenger car vehicle sector. Therefore we are deploying a certain amount of resources into that sector in the form of investment.

We have decided to be a strategic investor in an autonomous driving truck company for them to actually develop that technology and for us to actually use. The mandate for the partner is to actually put a fleet on the road in China to start working with our shippers in the next 12 to 24 months. That’s our mandate and so it depends on how successful they’re going to be at executing our strategy.

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Digital Marketing News: What Marketers Think about AI, Autonomous Stores & GSC Adds Data

Infographic: What Marketers Really Think About Artificial Intelligence
A new infographic shows 47% of marketers consider artificial intelligence (AI) to be over-hyped. In addition, 43% of marketers believe vendors overpromise and underdeliver when it comes to AI. AdWeek

Can Autonomous Stores Catch On?
Brick-and-mortar stores are testing out an automation model, functionally converting their stores to vending machines. These may increase convenience and service levels for some customers, but many remain doubtful that this will take off in a big way. MarTech Today

Google Search Console Adds 16 Months of Data
Can I get a heck yes?! Google has confirmed that Google Search Console will now be able to show 16 months of data versus the typical 90 days. This is currently available in their beta version for some users, with a larger rollout pending. The SEM Post

The State of Video Marketing: Distribution, Topic, and Budget Trends
Marketers are saying that social media brings them the highest ROI for digital video distribution, followed by email. In addition, 50% of respondents are transferring budgets from traditional media budgets to finance digital video and 37% are reallocating budgets from digital media. MarketingProfs

Hulu Hits $ 1 Billion Ad Milestone
In 2017, Hulu hit a record for video advertising revenue at $ 1 billion. They also saw a 40% rise in subscribers year-over-year in 2017 for video-on-demand and Live TV products. MediaPost

Self-Driving Cars Have Landed at #CES2018, and Marketers Really Need to Pay Attention
Self-driving cars are more than just a surreal future world pipe dream — they’re well on their way to becoming a real disruption to our typical interactions with transportation. Aside from the daily interaction, self-driving cars can also serve as a site for real-time marketing communications. HubSpot

Forrester: Mobile will drive 69% of search ad growth by 2022
Mobile Marketer reports: “Mobile phones will drive most of the expansion in paid search ad spending, contributing an estimated 69% of the $ 19 billion in growth by 2022, according to Forrester research.” Mobile Marketer

How Marketers Are Turning Your Car Into a Branded Experience
Talking to your car isn’t as strange of a thought as it once was. But marketers and tech platforms are toying with the idea of taking this to the next level — providing helpful, timely information to consumers on-the-go. AdWeek

Why Brands Will Go To Extremes — Lengthwise — With Digital Video In 2018
Marketing Dive reports: “In 2017, marketers spent 2x as much on online video than they did on TV ads. While standard 30-second ads aren’t going away, brands are increasingly experimenting with a wide array of video formats that push extremes length-wise.” Marketing Dive

Google Is Sunsetting Adwords Review Extensions
Next month, Google will be removing the text ad extensions that allow advertisers to highlight 3rd-party reviews within their ads. If you have used these extensions and want to keep the data, export it in AdWords this month. Search Engine Land

New Data Reveals It’s Time to Change Your Headline Strategy
New research from Buzzsumo revealed some surprising insights about headlines that play best on Facebook — including which word combinations get the most engagement, and which to avoid. Social Media Today

On the Lighter Side:
M&M’s debuts touchdown dance contest for Super Bowl – Mobile Marketer
Billy Mann Discusses Video Humor as a Tool for Marketing – Small Biz Trends

TopRank Marketing In the News:

Debbie Friez – 2018 Digital Marketing Trends From 20+ Marketing Experts – Hot in Social Media
Josh Nite – Annual Content Planning: How To Kickstart Filling Your Editorial Calendar – HeidiCohen.com
Lee Odden – What’s Trending: Bring It On, 2018 – LinkedIn Marketing Solutions
Lee Odden – Social Media Experts and Influencers, to Follow in 2018 – SocialChamp
Lee Odden – 5 Expert Tips To Refine Your Content Marketing Strategy For 2018 – Marketing Insider Group
Lee Odden - Meet the Top 21 B2B Influencers to Watch in 2018 – B2B News Network
Lee Odden – How To Research and Create Evergreen Content – BuzzSumo

What was the top digital marketing news story for you this week?

We’ll see you next week when we’ll be sharing all new marketing news stories. Also check out the full video summary on our TopRank Marketing TV YouTube Channel.

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