MM5016 NEW VENTURE MANAGEMENT

“Tarot Reading by Mayanov” Business Report

AYU RAHMAWATI
29320062

SCHOOL OF BUSINESS AND MANAGEMENT

ENTREPRENEURSHIP MBA PROGRAM
BANDUNG INSTITUTE OF TECHNOLOGY
2021
 TABLE OF CONTENTS

TABLE OF CONTENTS.............................................................................................. i
EXECUTIVE SUMMARY .......................................................................................... ii
CHAPTER ONE: BUSINESS OVERVIEW ............................................................... 1
A. Tarot Reading by Mayanov ............................................................................... 1
B. Vision & Mission ............................................................................................... 1
C. The Services Offered & Pricing ........................................................................ 1
D. Long Term Vision of the Business .................................................................... 2

CHAPTER TWO: ADOPTION STRATEGY .............................................................. 3

A. Target Market & Customer Persona ................................................................. 3
B. Value Propositions ............................................................................................ 5
C. Customer Journey & Touch Points ................................................................... 6
D. Marketing Plan & Strategy ................................................................................ 9

CHAPTER THREE: BUSINESS PROGRESS ......................................................... 14

A. Organic Promotions ........................................................................................ 14
B. Paid Promotions ............................................................................................. 27
C. Sales Performance ......................................................................................... 29
D. Comparison of Actual Cost of Customer Acquisition and Plan ............................ 32

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 EXECUTIVE SUMMARY

In order to build brand awareness and boost sales, marketing strategies was
planned, focusing on four stages of the sales funnel: awareness stage, interest stage,
consideration stage, and decision stage. The marketing strategies planned were
focusing on two channels, namely Google and Instagram. Both inbound and outbound
marketing strategies were used.

During March period, the marketing strategy that was being implemented brings
a great impact to the business performance on that month. Sales performance was
exceeding the target number for the month as much as Rp 3,3 M. 70% of the total
number of bookings came from new customers, while loyal customers made 30% of
the total number of bookings. The majority of new customers, 52%, used Google as
their main channel when finding about Tarot Reading by Mayanov. Nevertheless,
Instagram were also being the second biggest that new customers used to find the
business. Cost of customer acquisition were 2x higher than it was planned. However,
the higher CAC was in line with the high sales performance made on that month.

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 CHAPTER ONE
BUSINESS OVERVIEW

This section will give an overview of the business that is currently being develop. The
discussion will cover the business’s vision, mission, product, price, and also long-term
vision of the business.

A. Tarot Reading by Mayanov

“Tarot Reading by Mayanov” is a tarot reading service provider based in South

Jakarta. It has been operating and helping clients to understand themselves and find
best solutions for their problems through the perspective of tarot since 2009. Aside
from helping people, the business also aims to change public’s perceptions towards
tarot as something ‘mystical’ and serious to ‘fun’ and relatable with everyday lives.

B. Vision & Mission

Tarot Reading by Mayanov has a vision to change tarot’s image as something

mystical into something fun that is relatable to people’s daily life. To achieve that
vision the business has two missions. The first one is to provide a tarot reading
consultation service for people to consult their daily life’s struggle that is delivered in
a fun and ‘friend’-like way. Lastly is to introduce people into tarot reading such as tarot
reading class and other non-formal education.

C. The Services Offered & Pricing

The pricing of tarot reading services that are offered by ‘Tarot Reading by Mayanov’
depends on the type of the reading service, in which each kind of service have different
price rate:

• Online reading
(WhatsApp chat) Quick yes/no questions → Rp 50.000 / question.
Bundle of 3 questions → Rp 120.000 / bundle.
(WhatsApp chat) Deep reading → Rp 100.000 / question.
Bundle of 3 questions → Rp 210.000 / bundle.
(Call) Deep reading, unlimited questions → Rp 150.000 / 30 minutes.

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 • Offline reading
One-on-one offline reading session within South Jakarta / Grand Indonesia
/ Plaza Indonesia → Rp 300.000 / hour
• Special reading (seasonal)

New year reading, covering four aspects: what to embrace, what to let go,
what to focus on, and what to keep in mind. → Rp 100.000 / person.

D. Long-Term Vision of the Business

Aside from being a tarot reading consultation business and education, for the long-
run, Tarot Reading by Mayanov aims to widen the realm of its business to be an
agency for tarot reading service provider. However, this vision will be executed only
after the two missions already run properly.

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 CHAPTER TWO
ADOPTION STRATEGY

This section will be discussing about the marketing strategy that were being
implemented through-out the course, that is from mid-February 2021 until mid-April
2021. The chapter will be started by discussing about the business’s target market
and customer persona. Next, it will be followed by an analysis of the customer journey
and touch points (sales channel). Lastly, the chapter will be ended by the marketing
strategy and plan that were being developed based on the previous analysis.

A. Target Market & Customer Persona

The market for tarot reading service is considered as the type of oligopoly market.
Thus, because there is no such as standard price for the service, the branding of tarot
reading service is an important aspect for the business to set its price and position in
the market.

Currently, the market for tarot reading service business can be distinguished by the
‘genre’ of the reading style and the price level. Below is the position map of the
existing tarot reading service business market. It was made by mapping the current
prominent representative players in the market.

Figure 2.1 Position Map of Existing Tarot Reading Service Business

Source: Analysis, 2021.

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Looking at the map in Figure 2.1, other business players in the tarot reading service
business are currently occupying three out of the four quadrans. The first quandrant,
that is the new age-style with high pricing, is occupied with the Early Theory as the
prominent player. Next, Prameswari is currently dominating the tarot reading market
in the spiritual style with high pricing quadrant. In the last quadrant, that is the spiritual
with low pricing, there are currently two types of players in this side of the market, in
which for the sake of analysis are represented by Bima Tarot and Danik Yanuar
(sang_njuk). First is Danik Yanuar, the traditional spiritual style with considerably low
pricing. The other one Bima Tarot, which is still using the spiritual approach style in
their reading, although not as traditional as the first one, but with very low pricing. On
the other hand, ‘Tarot Reading by Mayanov’ is residing in the middle of the four
quadrants. ‘Tarot Reading by Mayanov’ aims for the modern & young-adult customers
that is new to the idea of tarot reading. It sets it pricing to the mid-price strategy, in
accordance with the target customers that it aims for.

To get a better picture of the target market that ‘Tarot Reading by Mayanov’ aims for,
below is the customer persona of ‘Tarot Reading by Mayanov’.

Table 2.1 Target Customer Persona of ‘Tarot Reading by Mayanov’

Name Rosie La Larend

Age 24

Occupation Junior-level employee

Income Rp 8 M / month

Loves to read anything related to astrology, especially

Interest
love-life and life fortunes

Rosie is currently having a love-life dilemma. Her boyfriend

Context has been acting weird for a couple of weeks and she has a
hunch that he might be hiding something from her.

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 She wants to let her frustration out of her head but she’s
afraid to be judged by her friends or that her friends will tell
her story to others. She also wants to know whether her
Goals hunch is true and what might be really going on since her
boyfriend always being reluctant when she brings up the
conversation. So, she's looking for another way to find that
out.

Other’s testimonials / recommendations;

Price;
Motivations
Communication style;
Time to respond.

Source: Analysis, 2021

B. Value Propositions

From the pain points of the customer persona, the value propositions that ‘Tarot by
Mayanov’ offers and are proven by its customers are:

• Fast response.
• More than just ‘fortune-telling’, but also helps clients understand
themselves and their situations.
• Place flexible.

Figure 2.1 Customers’ Testimonals of Tarot Reading by Mayanov

Source: Tarot Reading by Mayanov, 2019

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C. Customer Journey & Touch Points

At the first time every new customer contacted ‘Tarot Reading by Mayanov’
through Instagram DM or WhatsApp, they always asked where they know ‘Tarot
Reading by Mayanov’ from. Before asking about problems that the clients face, the
tarot reader tried to understand clients’ pain points and their expectations toward the
consultation session. An update from the previous Mid-Term Report, Personal
interview sessions were re-conducted to 20 past clients in order to assess the
customer journey and touchpoints of the customers.

Based on the interview results, it is known that the customers of ‘Tarot Reading
by Mayanov’ were going through four stages until they decide to book an appointment
for consultation. The first stage is awareness, in which customers found out about the
business online presence. Next stage is interest, in which customers are willing to
know more about the business’ online profile. The third stage is the consideration
stage, in which customers are triggered to know about the services that ‘Tarot
Reading by Mayanov’ offers and its rate. Furthermore, they are looking for the reviews
and promo/discount that may be offered. The last stage is decision. Before the
customer booked an appointment, they contacted the customer service whether
through Instagram or WhatsApp chat to get more detail information about the services
and terms applied. There are also two other stages after the decision stage, which
are loyalty stage and advocacy stage. Therefore, there are seven stages in the sales
funnel for ‘Tarot Reading by Mayanov’.

The customer journey for Tarot Reading by Mayanov’ s customer through-out the
seven stages of marketing funnel can be seen in Table 2.2 in the next page.

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 Table 2.2 Customer Journey & Touch Points Analysis

STAGE AWARENESS INTEREST CONSIDERATION DECISION DELIVERY & USE LOYALTY ADVOCACY

- Searching for tarot reading
service in Google
- Searching for fortunes
based on their
horoscope/zodiac/ astrology
CUSTOMER
- Scrolling around their IG
ACTIVITIES
timeline/explore
- Curious and stalks the IG
profile
- Search based on specific
key words (hashtags)
- Found fortunes based on
their horoscopes
- Sometimes no intention at
all
CUSTOMER
- Found the most convincing
GOALS
tarot reader
- Google search
TOUCHPOINT - Friend’s recommendation
(CHANNELS) - IG explore
- IG Ads
- [Google] Click on the - Looking for info of - Looking for Consult with the Book for another Share
website / sties that prices & kinds of tarot promo/discount info reader about their appointment / experiences
Google suggest reading services - Choosing the best-deal situation / problem more services to friends
- [IG] If they are really offered service (in terms of price)
interested with the - Compare prices with - Compare with other
contents on IG, most other tarot readers service provider in terms
likely will follow the - Asking more detail of how fast they respond
account, save/share information through IG - Book for an
contents DM / WhatsApp chat appointment
Found interesting/fun Get kinds of services - Get detail information - Get detail Repeat good Share
horoscope-related offered and price about the services information about customer feelings
contents information about the offered their situations, experience
services - Know how fast the fortunes, and what
reader responds should they do
about it.
- Get a fast
response from the
reader
- IG content variations - IG contents (covering - DM IG WhatsApp chat - IG posts (feeds - Word of
- Presence on Google price & promo) - WhatsApp chat & story) mouths
- Reviews on Google - WhatsApp chat - Online
/ Instagram reviews

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 STAGE AWARENESS INTEREST CONSIDERATION DECISION DELIVERY & USE LOYALTY ADVOCACY

- Attracted with the - Attracted from the - Good impression from - Satisfied with the - Satisfy with the - Satisfy with the Very pleased
contents, relatable with their appearance on Google complete information service-price deal detail explanation detail with the
conditions/situations search results given - Good first impression about the forecast explanation service and
- Curious about the service - Good presentation of - Triggered and because of the fast situations and good about the want to
due to the Ads appearance the contents convinced from good response from the reader recommendation forecast recommend
frequency - Interesting & variative reviews - Good impression from - the reader is fast situations and it to others
EXPERIENCE - Some may confuse to contents detailed explanation from response good
choose (from Google the reader about the - Satisfy with the recommendation
search) services offered way the reader - the reader is
explain fast response
- Satisfy with the
way the reader
explain

Source: Analysis, 2021.

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From the customer journey mapping done previously, it is known that there are several
customer-touchpoints or marketing and sales channels, which are Instagram,
Google, and WhatsApp. Currently, Instagram and Google are used by clients to find
out about ‘Tarot Reading by Mayanov’. While WhatsApp acts as the sales channel.
This is a new finding compared to the previous Mid-Term Business Report in which
the customer touchpoints were only Instagram and WhatsApp.

Looking at the experience row, the overall experiences that customers have from
finding out ‘Tarot Reading by Mayanov’ existence until they are willing to give the
business advocacy to others are positive. There are several points from the first three
stages of the sales funnel that must be concerned. Those are points at the awareness
stage, interest stage, consideration stage, and decision stage. Those points to be
considered can be controlled by the marketing and selling strategy which will be
explained in next.

D. Marketing Plan and Strategy

As mentioned in the Mid-Term Business Report, since the type of business that ‘Tarot
Reading by Mayanov’ is basically a consultation service, clients / customers are most
likely to reach out when they feel that they have problems. Thus, the marketing goal
is to increase awareness to new potential clients / customers with the aim of increasing
sales, since reaching out to previous clients to ask their personal life and offering
services will be unethical.

In accordance to that, stages of the sales funnel that will be the main concern of the
marketing plan and strategies are those four stages that already mentioned earlier:
awareness stage, interest stage, consideration stage, and decision stage. The
marketing plan and strategies for those stages can be seen on Table 2.3 in the next
page.

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 Table 2.3 Marketing Plan and Strategy for Each Stage
AWARENESS INTEREST CONSIDERATION DECISION
BUSINESS - Increase engagement Increase the tendency of people
Increase awareness Increase closed deal & sales value
GOAL - Increase interest to reach out / contact

- Build presence on Google

- Increase the tendency of people to Create attractive & engaging
- Cross-selling & Up-selling
STRATEGY visit IG profile posts on consistent frequency Put up 5-star reviews
- Make eventual promo
- Collaborate with online lifestyle regularly
media / influencers

- Set up Google Business

- Upgrade website for SEO
- Make & post variative and
optimization - Follow up to clients to give - Make November & New Year
ACTION engaging contents on consistent
- Search & propose partnerships to reviews on Google promo
PLAN frequency regularly
online lifestyle media / influencers - Buy Google reviews - Propose cross-selling & up-selling
- Buy likes for posts
- Boost IG Ads for zodiac-specific
audiences

- Number of people reaching

- Number of posts being saved +
- Number of reach (monthly target) through IG DM - Monthly number of bookings
KPIs shared + comments = 10%
- Increase in profile visit (10% reach) - Number of people contacting - Monthly total sales value
reach
through WA

Source: Analysis, 2021

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As it can be seen on Table 2.3 before, marketing activities are mainly heavily done for
the awareness stage. Meanwhile, activities on interest and consideration stages are
done with the focus for potential customers to stay hooked until the decision stage.

A combination of inbound and outbound marketing is used in the marketing plan. The
type of outbound marketing is used in the form of Instagram Ads. Whereas, inbound
marketing is used in many forms, such as SEO (through Google Business and which
linked to the business’ website and Google Reviews), Instagram optimization (through
contents generation), and also online collaboration with partners. Notice that buying
Instagram likes and Google reviews are used. This is done to attract potential
customers so that they are more convinced. However, on the March period, buying
Instagram likes had not been done yet.

Monthly number of target customers and expenses budget for marketing activities are
listed by detail on Table 2.3 in the next page. A simpler picture of the comparison
between target revenues, expenses, and profit that was planned until December 2021
can be seen on Figure 2.2 below.

Figure 2.2 Comparison of Planned Target Revenues, Expenses, and Profit for
March – December 2021
Source: Analysis, 2021

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 Table 2.3 Financial Plan & Budget March 2021– December 2021
Type of March April May June July
Rate
Cash Description Bill Bill Bill Bill Bill
(Ribu Rp) Amount* Amount* Amount* Amount* Amount*
Flow (Ribu Rp) (Ribu Rp) (Ribu Rp) (Ribu Rp) (Ribu Rp)
Quick Yes/No
15 750 20 1.000 14 700 20 1.000 25 1.250
(@ question) 50
Bundle 3
Questions
Quick Yes/No
(@ bundle) 120
Deep Reading
Revenues (@ question) 40 4.000 50 5.000 35 3.500 45 4.500 60 6.000
100
Bundle 3
Questions
Deep Reading
(@ bundle) 210
Call 150 6 900 8 1.200 5 750 10 1.500 10 1.500
Offline Reading 300
TOTAL TARGET REVENUE
5.650 7.200 4.950 7.000 8.750
(Ribu Rupiah)
IG Ads + Paid
Promote 400 600 300 450 600
(Marketing)
Promo/Discount
- - - - -
(Marketing)
Expenses
Partnership Fee
- 500 - 500 -
(Marketing)
Social Media
Specialist 2.000 2.000 2.000 2.000 2.000
(Marketing)
TOTAL TARGET EXPENSES
2.400 3.100 2.300 2.950 2.600
(Ribu Rupiah)
TOTAL TARGET PROFIT
3.250 4.100 2.650 4.050 6.150
(Ribu Rupiah)

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Type of August September October November December
Rate
Cash Description Bill Bill Bill Bill Bill
(Ribu Rp) Amount* Amount* Amount* Amount* Amount*
Flow (Ribu Rp) (Ribu Rp) (Ribu Rp) (Ribu Rp) (Ribu Rp)
Quick Yes/No
35 1.750 42 2.100 32 1.600 25 1.250
(@ question) 50
Bundle 3
Questions
Quick Yes/No
(@ bundle) 120
Deep Reading
Revenues (@ question) 75 7.500 80 8.000 50 5.000 125 12.500 115 11.500
100
Bundle 3
Questions
Deep Reading
(@ bundle) 210
Call 150 12 1.800 16 2.400 12 1.800 16 2.400 20 3.000
Offline Reading 300
TOTAL TARGET REVENUE
11.050 12.500 8.400 14.900 15.750
(Ribu Rupiah)
IG Ads + Paid
Promote 700 800 1.000 1.000 1.000
(Marketing)
Promo/Discount
- - - 6.250 -
(Marketing)
Expenses
Partnership Fee
500 1.000 1.000 - 1.000
(Marketing)
Social Media
Specialist 2.000 2.000 2.000 2.000 2.000
(Operation)
TOTAL TARGET EXPENSES
3.200 3.800 4.000 9.250 4.000
(Ribu Rupiah)
TOTAL TARGET PROFIT
7.850 8.700 4.400 5.650 11.750
(Ribu Rupiah)
Source: Analysis, 2021

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 CHAPTER THREE
BUSINESS PROGRESS

In the mid-term report, the business progress that already being implemented was
organic promotions, that is through Instagram stories, and partnership with online
lifestyle media (C Channel Indonesia). However, the progress was insufficient enough
to be measured as having an impact to the business due to the short of time and the
scope of activities (only organic Instagram stories and one-time live program). In this
final report, the business progress covers mainly on organic promotions on multiple
channels while also discussing about the paid promotion activities.

A. Organic Promotions

There are two organic promotions that were already been executed, which are organic
Instagram posts and Google Business.

Instagram Posts

One of the strategies to increase awareness and potential customer’s interest is

through contents generation on Instagram. In the previous Mid-Term Business
Report, a whole month Instagram content plan for March was already mentioned and
described. Thus, this report will be discussing about the outcome result that all of the
contents generate, in terms of insight.

Even though the content plan was for almost a full month, unfortunately there were
several contents that were not posted or executed. This was due to
miscommunication between the business partners. Table 3.1 shows the content plan
which had been executed and which were not executed. The columns with light-grey
colour show the contents that were not posted. Note that on the March period, buying
Instagram likes had not been done yet. Thus, in calculating engagement rate, likes
were also being considered.

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Table 3.1 Content Plan for March

Source: Analysis, 2021

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 Figure 3.1 Content 1
Source: ‘Tarot Reading by Mayanov’ Instagram’s Insight, 2021

Figure 3.1 shows the insight from the first Instagram post that was posted on
March 12, 2021. The insight was captured on April 12, 2021, a month after the content
was posted. By comparing the insights with the KPIs, it is known that the target
percentage number of profile visit generated from this content is reached (13%
compared to 10% of target). The engagement rate from this post is also above the
target, although not as high as the percentage number of profile visit, that is 11,7%.

There is a new insight that can be considered as a good progress for the effort
on increasing awareness. Notice that in the insight, there are 60 impressions of the
content that was from ‘Other’, which means that the content was showed up on the
‘Explore’ page or it can also be that people find out about the content from their friend
that shared the content to them through direct message.

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 Figure 3.2 Content 2
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.2 the insight from Instagram post that was posted on March 14, 2021.
The insight was also captured on the same day as the previous post, that is on April
12, 2021. The results from this post were not as good as the first post. The percentage
of profile visits compared to the number-of-reach was way below target, that is only
1,24%. However, the engagement rate was a little higher compared to the percentage
of profile visits, that is about 3% from total number-of-reach.

Apart from the two insights, there are several of other insight that also matter.
Comparing the second post to the first post, this post got more attention from non-
followers (new audiences). Two sources that play role for this is from hashtag search
by the audiences and also explore page, which means that the post made it to other’s
explore page. Related with how the post made it to other’s explore page, the
performance of this post was not as good as the first post. It can be seen from the
percentage number of impressions that came from ‘Other’, which in this post, when
the insight was captured, was below 10%. Meanwhile, the first post reached more than
10% of reach.

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 Figure 3.3 Content 3
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.3 the insight from Instagram post that was posted on March 22, 2021.
The insight was also captured on the same day as the previous post, that is on April
12, 2021, three weeks after the day posted. The results from this post were lower
compared to the first and second posts. The cause behind this is mainly due to the
time which the insight of the post was taken.

Overall, the performance of this post was below target. The percentage number
of profile visits was only about 4%. The engagement rate was a little higher but still
below the target number, that is only about 7%. However, compared to the first post,
the percentage number of new audiences who found the content is almost as high,
about 23%. As for the performance of the content seen from how it made into other’s
explore page was also lower than the two previous posts, which only about 3% from
total reach.

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 Figure 3.4 Content 4
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.4 the insight from Instagram post that was posted on March 22, 2021,
the same day as the previous content was posted. The insight was also captured on
the same day as the previous post, that is on April 12, 2021, three weeks after the
day posted. The results from this post were lower compared to the first and second
posts. The cause behind this is also mainly due to the time which the insight of the
post was taken.

Overall, the performance of this post was below target. The percentage number
of profile visits was only about 3%. The engagement rate from this post was also about
3%. As for the performance of the content seen from how it made into other’s explore
page, so far this post had the lowest performance. The percentage number of
impressions that came from ‘Other’ and hashtags, when the insight was captured, was
only about 1% from the total reach that this post get at that time. However, compared
to the first post, this post reached higher percentage number of new audiences, that
is about 29%. From this data, it is known that new audiences found out about the
content not only from the explore page or hashtags search, but also from content
suggestion that were popped-up on their home page.

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 Figure 3.5 Content 5
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.5 the insight from Instagram post that was posted on March 24, 2021,
just two days after the previous content was posted. The insight was also captured
on the same day as the previous post, that is on April 12, 2021, three weeks after the
day posted. The results from this post were lower compared to the first and second
posts. The cause behind this is also mainly due to the time which the insight of the
post was taken.

Overall, the performance of this post was below target. The percentage number
of profile visits was only about 2%. The engagement rate from this post was only about
3%. Comparing to all the contents posted, this post reached the highest percentage
number of new audiences, about 34%. Notice that the percentage number of
impressions that came from ‘Other’ and hashtags, when the insight was captured, was
only about 6%. This means that other new audiences were exposed by the contents
from Instagram’s content suggestion on their homepage.

Assessing this post with the previous post, in terms of how the post able to bring
exposures to new audiences, the type of content was suitable for Instagram’s SEO.

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 Figure 3.6 Content 6
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.6 the insight from Instagram post that was posted on March 30, 2021,
the same day as the previous content was posted. The insight was also captured on
the same day as the previous post, that is on April 12, 2021, two weeks after the
content was posted. The results from this post were lower compared to the first and
second posts. The cause behind this is also mainly due to the time which the insight
of the post was taken.

Even though the insight of this post was taken two weeks after the content was
posted, the results were not as low compared to the other posts. The percentage
number of profile visits reach the target number of 10%. However, the engagement
rate from this post was only about 6%. The analytics also shows that this post had the
lowest percentage number of reaching new audiences, only about 18%. However,
looking at the ‘Impressions’ insight of this content, the content was also aligned with
Instagram’s algorithm, which showed from the number of impressions that came from
the audiences ‘Home’ page.

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 Figure 3.7 Content 7
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.7 the insight from Instagram post that was posted on March 30, 2021, the
same day as the previous content was posted. The insight was also captured on the
same day as the previous post, that is on April 12, 2021, two weeks after the content
was posted. The results from this post were lower compared to the first and second
posts. The cause behind this is also mainly due to the time which the insight of the
post was taken.

Overall, the performance of this post was below target. The percentage number of
profile visits was only about 7%. The engagement rate from this post was only about
6%. The percentage number of new audiences that this post reach, by the time that
the insight was taken, was relatively good compare to all the Instagram posts, about
29%. Looking at the ‘Impressions’ insight of this content, the content was also aligned
with Instagram’s algorithm, which showed from the number of impressions that came
from the audiences ‘Home’ page.

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 Figure 3.8 Content 8
Source: Tarot Reading by Mayanov Instagram’s Insight, 2021

Figure 3.8 the insight from Instagram post that was posted on March 30, 2021, the
same day as the previous content was posted. The insight was also captured on the
same day as the previous post, that is on April 12, 2021, two weeks after the content
was posted. The results from this post were lower compared to the first and second
posts. The cause behind this is also mainly due to the time which the insight of the
post was taken.

Overall, the performance of this post was below target. The percentage number of
profile visits was only about 5%. The engagement rate from this post was just a little
higher, about 6%. The percentage number of new audiences that this post reach, by
the time that the insight was taken, was relatively good compare to all the Instagram
posts, about 23%. Looking at the ‘Impressions’ insight of this content, the content was
also aligned with Instagram’s algorithm, which showed from the number of
impressions that came from the audiences ‘Home’ page.

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Key Takeaways from Organic Instagram Posts Strategy

After assessing insights from all the organic Instagram post contents, there are several
key takeaways learned:

1. To get an ‘apple to apple’ picture of content performance, insight should be

taken 1 month after the content was posted.
2. The type of contents was align with Instagram algorithm, in which Instagram
loads them as ‘suggestion post from Instagram’ to new audience’s Instagram
home page.
3. Life fortune-related contents generate more audience’s interest compare to
love life-related contents.

These insights are used as a benchmark for next month’s content planning.

Google Business

After assessing the customer journey from previous customers, it is known that aside
from looking on Instagram, potential customers also search on Google to find tarot
reading services. Therefore, we decided to put ‘Tarot Reading by Mayanov’ on
Google Business.

‘Tarot Reading by Mayanov’ already has a website, thus in order to optimize the
search result of the business, we linked the website to Google Business as well. Other
than that, from the customer journey assessment, it is known that reviews are
important aspect for customer’s decision making. Thus, we asked our current and
past clients to give their reviews on Google. Since some of our past customers did
not respond to us, we decided to buy Google reviews on one of e-commerce. Figure
3.9 shows the look of Tarot Reading by Mayanov’s Google Business.

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 Figure 3.9 ‘Tarot Reading by Mayanov’ Google Business
Source: Google Search, 2021

As it can be seen on the above figure, our attempt on putting the business into Google
Business and linking the business website page to it was good way for optimizing
search result on Google. A search testing was done by using ‘tarot reading Jakarta’
as the keywords. It turns out that ‘Tarot Reading by Mayanov’ comes at the first result
that Google suggest. After analyzing other tarot reading services on Google search
results, it is known that the number and rate of the reviews are important factors on
making into Google’s top results.

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Partnership / Collaboration

So far, there are two partnerships / collaborations that were done through-out March
and April period. Partnerships / collaboration were done with online lifestyle media, C
Channel Indonesia, and online lifestyle podcast show, Late Night Shift Podcast. The
partnership / collaboration with C Channel Indonesia was in the form of online tarot
reading program, while the one with Late Night Shift Podcast was in the form of online
talk show.

Figure 3.10 Partnership with C Channel Indonesia

Source: C Channel Indonesia’s Instagram, 2021

The program gave high exposure to the business from the number of Instagram
followers that the media has. Also, by looking at the enthusiasm of the audiences, the
partnership will increase brand awareness of ‘Tarot Reading by Mayanov'. However,
due to C Channel Indonesia’s business condition, the partnership might not have a
future.

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 Figure 3.11 Partnership with Late Night Shift Podcast
Source: Late Night Shift Podcast’s Instagram, 2021

This collaboration also gives high exposure to the business from, not only the number
of Instagram followers that the media has, but also those who listens to their podcasts.
The talk show that was done through this collaboration was not only posted on their
Instagram but also their Spotify. Thus, this acts as a new marketing channel for the
business, since the organic marketing channels that are currently being used are only
Instagram and Google (including the business’s website).

The impact of this collaboration, however, cannot be measured yet. An explanation for
this is because the collaboration was done on April 24, 2021. Thus, measuring the
impact on the day that this report is made, April 27, 2021, is too fast and the results
may not represent the real impact that it actually gives.

B. Paid Promotions

Through-out March and April, there were two paid promotions made. Both promotions
were done by using Instagram Ads. The first promotion did not give good results due
to technical problem that happened while setting-up the advertisement. However,
after fixing the problem, the results from the second Instagram Ad was quite good.

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 Figure 3.10 Instagram Ad’s Insight from First Ad
Source: Tarot Reading by Mayanov’s Instagram Ads Insight, 2021

Figure 3.10 shows insights from the first Instagram Ad that was conducted on March
22 until March 28, 2021. Notice that the budget used for the Ad was only Rp 5.000.
This happened due to a technical error while setting-up the Ad. As the result, the Ad
was not optimal to reach big audiences and raise awareness. The number of
audiences that were reached by the promotion was only 408. However, insights on the
Ad’s audience give a picture of the main potential customers that can be used to aim
for the next Ad, which is women on the age of 18-34.

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 Figure 3.11 Instagram Ad’s Insight from Second Ad
Source: Tarot Reading by Mayanov’s Instagram Ads Insight, 2021

Figure 3.11 shows insights from the first Instagram Ad that was conducted on April
7 until April 12, 2021. In the second Ad, the budget was set to Rp 80.000 for 5 days.
As it can be seen on the above figure, the total amount of reach by the second Ad was
a lot higher than the first Ad, that is more than 8.000 accounts. The number of people
clicking the promotion which then leads to Tarot Reading by Mayanov’s website was
31 people. However, even though these numbers are higher than the previous Ad,
looking at the percentage of leads that the promotion made compare to the number of
accounts reached, it was still very low, only 0,3%. This is mainly due to the target of
the Ad that was being set too broad.

C. Sales Performance

This section will be discussing about the sales performance in March 2021 as the
result of the marketing efforts made though-out the month. The sales performance will
be compared to the sales made in two months prior, January and February. Figure
3.12 shows weekly sales performance of Tarot Reading by Mayanov from January
2021 until the end of March 2021.

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 Weekly Sales Performance
Rp4.000.000

Rp3.500.000

Rp3.000.000

Rp2.500.000

Rp2.000.000

Rp1.500.000

Rp1.000.000

Rp500.000

Rp0
Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4
JANUARY FEBRUARY MARCH

Figure 3.12 Weekly Sales Performance

Source: Analysis, 2021

Recalling from the previous marketing efforts, both organic and paid marketing,
the first marketing activities was done on the last week of February 2021, that is
through organic Instagram contents and partnership with C Channel Indonesia.
However, it did not give a significant impact to sales performance on that period
(February, week 4). However, as the marketing activities were constantly done from
week 3 of March, an increase in sales were seen.

A major increase happened in the first week of March 2021. The main contributor
for this is from loyal customers compared to new customers. Although the number of
new customers is higher than loyal customers, loyal customers (old customers) made
higher purchase value. There was one loyal customer that contributes to the high sales
value, which spent Rp 900.000 on one consultation session. Generally, 63% of the
total sales on the first week of March were came from loyal customers booking.

Sales performance were declining entering the second week of March. This is
because marketing activities had not been done constantly. However, the sales
performance was better higher than the last week of February, which gave a picture
that the exposure from the collaboration done previously with C Channel attracts new
customers to the business. Not until the third week of March that the marketing

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activities were done constantly. As the result, sales were starting to increase and
reached its peak for the month on the last week of March. This is due the marketing
activities that was heavily done on week 4.

As the marketing activities were constantly done, sales were mainly contributed
from new customers booking. The total number of new customers that booked the
services on the last week of March was twice the average number of new customers
on previous months. Based on interviews that were done on every end of the
consultation sessions, new customers were mostly find about the business through
Google search and decided to book the session because of the good and convincing
reviews on the Google Business page.

To get a clear picture of impact of the marketing activities to the business sales, a
comparison of the actual sales performance with the target sales plan was made.

Comparison of Actual Sales Performance and Sales Target

March 2021
Rp10.000.000

Rp9.000.000

Rp8.000.000

Rp7.000.000

Rp6.000.000

Rp5.000.000

Rp4.000.000

Rp3.000.000

Rp2.000.000

Rp1.000.000

Rp0
Actual Sales Target

Figure 3.13 Comparison of Actual Sales Performance – Sales Target January –

March 2021
Source: Analysis, 2021

As seen on Figure 3.13 above, sales performance in March exceeded the sales
target. It cannot be denied that loyal customers also contribute to the great sales

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performance during that month. However, sales from new customers contribute about
64% to the total sales on March. Thus, it can be said that the marketing strategies
done were success to increase sales and raise awareness of the business in the
market.

D. Comparison of Actual Cost of Customer Acquisition and Plan

Customer Proportions on Sales

March 2021

Loyal
Customers
30%

New
Customers
70%

Figure 3.14 Customer Proportions on Sales March 2021

Source: Analysis, 2021

From total sales during March 2021 period, 44 bookings worth of Rp 8,97M, the
number of bookings from new customers made 70% of the total bookings compared
to loyal customers. This contributes to about 64% of the total sales value during that
month.

How Customers Know About Tarot Reading by

Mayanov
Other
8%

Instagram
40%

Google
52%

Figure 3.14 Customer Proportions on Sales March 2021

Source: Analysis, 2021

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 From the interviews conducted every end of consultation session, the majority
of new customers found out about Tarot Reading by Mayanov through Google search.
The second biggest contributor of bringing new customers during March 2021, about
40%, was Tarot Reading by Mayanov’s Instagram. Meanwhile, 8% of the new
customers knew Tarot Reading by Mayanov from ‘Other’ channel, such as friend’s
recommendation, Spotify, and other’s Instagram accounts that promote Tarot Reading
by Mayanov.

This result, however, took bigger value on the cost of acquiring customers
compared to the marketing costs that was planned. Detail on the descriptions of the
number of new customers acquired on plan and from actual sales is presented on
Table 3.2 below.

Table 3.2 Plan vs Actual Cost of Acquiring Costumers for March 2021

PLAN ACTUAL

New Customers 61 31
Total Costs Spent Rp2.400.000 Rp2.085.000
CAC Rp39.344 Rp67.258
Source: Analysis, 2021

Recalling that the target number of new customers for March 2021 is 61
customers. This number was planned to be achieved with marketing budget as much
as Rp 2.400.000. Using the CAC formula by Neil Patel, the cost of acquiring new
customers was planned to be as much as Rp 39.344. After assessing the actual sales
in March 2021 and spending for marketing activities, it is known that the total number
of new customers are below the target. On the other hand, by using the same formula
as before, the total spending for marketing activities was not far from the budget that
was planned, that is Rp 2.005.000. As the result, the cost of acquiring new customers
on this month was 1.7x higher than the plan.

However, if we look back at Figure 3.13 on the previous page, the actual total
sales that were made in March was 1.6x higher than the target sales that was planned.
Having that in mind, the high cost of customer acquisition in March was in line with the
high sales performance in that month. Thus, high in CAC are not necessarily bad for
the business.

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 REFERENCES

Patel, N. (n.d.). Customer Acquisition Cost: The One Metric That Can Determine
Your Company’s Fate. Retrieved April 27, 2021, from from
https://neilpatel.com/blog/customer-acquisition-cost/

Skok, D. (2010). Startup Killer: The Cost of Customer Acquisition. Retrieved April 27,
2021, from https://www.forentrepreneurs.com/startup-killer/

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