Bibit: Building Trust In A Category That's New To Consumers
Moonshot
English - November 18, 2021 09:22 - 30 minutes - 28.1 MB - ★★★★★ - 1 ratingEntrepreneurship Business Technology founder entrepreneur sequoia india southeast asia business startup surge sequoia capital sequoia peak xv partners Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Building trust with first-time consumers is critical for any brand - particularly where their money is concerned. In 2019, Sigit Kouwagam and Wellson Lo launched Bibit, a robo-advisor that makes it easy for Indonesians to start investing and build a portfolio. The country’s stock market, which has long been dominated by institutional investors, is now attracting more retail investors as Millennials and Gen Z look for new ways to grow their savings. The Bibit team started a Telegram group early in their product journey and invited users to share complaints, ideas and questions. Some of the app’s key features - such as a shared portfolio for spouses and an auto debit function - emerged from that customer feedback. On this episode of Moonshot, Sigit chats with Rohit Agarwal, a principal at Sequoia India & SEA, about how Bibit is empowering Indonesians to make sound investment decisions, and building a brand that first time investors trust by actively engaging with them.
Show Notes
The evolution of Indonesia’s retail investors and creating products with their concerns in mind (03:34)Lessons from Bibit’s landlord on opening communication channels with their users (09:34)Tapping into Indonesia’s changing investment ecosystem (13:58)Empowering Indonesians to make sound investment decisions (21:24)Getting your customers to become your ambassadors of trust (24:18)Questions to ask yourself before taking the entrepreneurship leap (28:25)