StyleDoubler in Indonesia
Name: Eetu Raudas
Company Name: StyleDoubler Oy
Company Headquarters: Finland (HQ), Indonesia (Regional HQ)
1. What is your business?
We connect international brands with social media influencers through our end-to-end platform. Our products and services allow leading companies to run performance-driven influencer marketing campaigns across the largest markets in Southeast Asia: Indonesia, Thailand, Malaysia and the Philippines.
2. What is your business model in Indonesia?
Indonesia is one of our largest markets in Southeast Asia, with over 30,000+ influencers across several categories such as fashion, beauty, electronics, automotive, and more. We help both local and international brands with their influencer marketing campaigns.
3. How long has your company had a presence in Indonesia?
We have been present in Indonesia since 2019. The company being founded in Finland in 2018, Indonesia was our first international market of operation. Being the Co-founder of the company, I arrived in Indonesia with a mere 5,000€ budget, with no local contacts, and certainly no guarantees that the business would ever take off. Today we employ over 40 people in Indonesia alone and have been doubling our headcount every year.
4. What advice would you give Nordic companies looking to enter the Indonesian market?
I am a strong believer in having boots-on-the ground. There is no substitute to having a key employee move to the new country, to learn the ins and outs of how the market really works. After doing my own research about Indonesia prior to entering the market, I was very surprised to learn how different things actually were, once I moved to the country myself, and started learning about the local culture and business environment.
5. What are some of the biggest mistakes you see foreign investors in Indonesia make?
Hiring a local person to explain how the market works or what should be done, without having a key employee from the company move to the country, to oversee all operations.
6. What are some trends in Indonesia that you think are noteworthy/that you are excited about?
When it comes to marketing (B2C), influencers (locally called Key Opinion Leaders or KOLs) are by far the most effective marketing channel. Indonesia has a very young population, who spend twice the time on social media per day, compared to regions like Europe or US. It has been very interesting to see first-hand how efficient influencers are in driving sales conversions for brands online. TikTok is currently the most exciting channel, where we see a lot of increase in budget spending of our customers. Some particular trends we observe are influencer-hosted livestreams where consumers are able to shop during the event, on TikTok as well as online marketplaces like Shopee and Lazada.
7. Why did you decide to become a member of The Nordic Chamber in Indonesia?
I have been waiting to come across a forum to connect with other business people from the Nordics. After Magnus managed to convince me on the benefits, joining NordCham become quite self-evident.
8. How can your company help Nordic companies in Indonesia?
We are the leading influencer marketing company in Indonesia, serving international B2C companies such as ASUS, MSI, Unilever, and more across different categories. Through our services, we ensure successful and performance-driven influencer marketing campaigns at scale, for companies at any size or budget.
9. How can members reach out to you?
Everything goes. Always happy to help by sharing insights on the latest trends in marketing and consumer behavior.
10. Favorite past-time activity in Jakarta?
Always hunting for the best steak in town.
11. Anything else you’d like to share?
Very happy to meet for coffee, lunch, dinner, drinks, to share my experiences with anyone interested.