Episode Transcript
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Speaker 1 (00:05):
Apoche Production.
Speaker 2 (00:11):
Hello, I'm Naomi Simpson and Handpicked Season five is here,
and the entrepreneurs this time are not going easy on me.
Those questions just keep coming, whether it's about building a
brand in a taboo subject or what about sales, Oh yeah, sales, sales, sales.
We're all trying to find more customers. And what about
(00:34):
changing customer demands or balancing high tech with high touch.
These entrepreneurs and business owners are really really asking the
questions that will help every business owner and their team
just get more ideas on how to cope with everything
they're tackling in the day. Now, new episodes drop every Monday,
(00:57):
and remember to subscribe so that here the next Lotus episode. Anyway,
join me on Handpicked on Mondays. Hello, I'm Naomi Simpson
and I'm really pleased to bring you this episode of Handpicked.
Speaker 3 (01:15):
We have Jay Yap.
Speaker 2 (01:17):
Now, I've known Jay for a number of years because
he has been one of our very strategic partners at
Red Balloon. But I've got Jay on because he's seeing
so much change going on in his industry. So welcome Jay,
Thanks for coming on the show.
Speaker 1 (01:34):
Good morning everyone, how are you.
Speaker 3 (01:36):
It's good though it might be evening.
Speaker 2 (01:38):
People listen to podcasts at all sorts of times anyway.
So what about a little bit of background on you first, Jay.
Speaker 4 (01:46):
Well, I've been head of Tourism and Strategic Partnerships through
Dalton Hospitality Group. I was with another company and I
left to join to tick on one of the biggest
I wouldn't say biggest, but maybe one of my few
challenges in life, even though I'm sixty seven, and it's
at Heath Street Market, which is a new precinct that
(02:07):
we've redeveloped and reimagined into a hospitality precinct with over
twenty two vendors in food, forty eight different concepts and
it's a brilliant thing.
Speaker 1 (02:17):
It got me really highly excited.
Speaker 4 (02:20):
I think today what I'm looking at and possibly talking
to an old friend and someone who's really really experienced,
is the fact that I've been in tourism for over
thirty forty years now and one of the things I've
noticed is that whilst every supply and i'm product supplies
you know, and worked so well with Great Balloon, who's
(02:40):
supported me so much, is that we're.
Speaker 1 (02:42):
Finding out that I think AI.
Speaker 4 (02:45):
Technology the way people are thinking, the way people are buying.
I know it sounds funny, like, for example, I can't
think of when was the last time I actually walked
into a retail store and bought anything.
Speaker 1 (02:55):
Everything was online.
Speaker 4 (02:57):
So then that's what prompted me, is that as humans,
we use our five senses.
Speaker 1 (03:03):
We like to smell, we like to taste, we like to touch.
Speaker 4 (03:06):
But I'm buying things online without even doing anything and
just concentrating on that, And I think that somehow are
we moving out to an age where AI virtuality is
actually predetermining what the customer will be needing.
Speaker 3 (03:23):
Yeah.
Speaker 2 (03:24):
So, yes, the world has changed and the world is
not going to go back to what it was when
we both started in the industry a while ago. I
guess there's a few things in your questions. One is
about how are consumers changing and how our travel is
changing and why is it so? So I reflect on
(03:45):
where people seek information. I've always argued that our most
precious resource is our time.
Speaker 3 (03:54):
Time.
Speaker 2 (03:54):
You can't buy more time, you can't earn more time.
I wrote a blog about it years ago, which was
quite controversial at the time, but that time is more
precious than money. So I even know to read a
book is a massive investment in time, so you want
to have a recommendation. You want to make sure that
(04:15):
it's going to be worth your while. So wherever you're
spending your time, when there is so much choice, you're
actually seeking other people's opinions, especially people that you know
and trust. A big reason why I listen to podcasts
is because I'm getting other people's views, their critique, their insight,
(04:36):
and that helps me navigate where I want to spend
my time. And that's the importance of customer reviews. Now,
the mechanism by which we are buying things may have changed,
but the notion of will this work for me? Has
another human really referred it would be great? So you know,
(04:59):
we all remember, first of all, when Google reviews came in,
when product reviews came in, there's been a bunch of
you know, trip advisors and so forth, which is all
about the review. And we know and read Balloon that
those reviews drive sales. And what is wonderful for us
is that we also know that our best of the
best of range is that when we have people who
(05:22):
are producing beautiful experiences, they tell other people, but they
will also write a review. So I think how we
interact with businesses might change, but that personal connection and
being able to trust a review is going to be
more and more important. So harnessing people to talk about
(05:42):
you is going to be an exciting time.
Speaker 4 (05:45):
Yeah, I think that's right, and it's good that you
actually mentioned. Like, for all the years that I've worked
with Red Balloon, I've always found that one of the
best things is that we've been always been strategic together,
and it's about curating the experiences that are very unique,
very different.
Speaker 1 (06:03):
I have to say, as a product suppla, I'm inundated.
Speaker 4 (06:07):
I mean, I cannot tell you how many online travel
agents everyone's just rushing in and saying.
Speaker 1 (06:13):
Can I have this? Can I have that?
Speaker 4 (06:15):
And based on the fact that, I mean, I work
for a company, so I've got to actually review every
single thing that comes in. And I've been speaking to
other products supplies and I say, oh, don't worry, just
give it to everybody. It's all the same, right, And
that's got me to be a little bit on the
thinking side. Is that I think maybe, I mean, I'm
only talking from my side of the business, but even
(06:37):
if you are product supplier selling everything, I mean, is
it important that you actually choose the right number of
partners rather than actually just say let's leave it out
in the open platform and sell it everywhere. There are
some hospitality or tourism experiences in Australias that are even
listing out on any kind of platform without even having
(06:58):
a word, without thinking of anything. So it becomes more like,
you know, here is that's my inventory, stump it right
there and then you sell it, so it that has
normal meaning.
Speaker 2 (07:09):
I think, Yeah, trust is really important, so trust doesn't change,
and how we build trust is important. So therefore the
brand association of where you list your products is really
going to be very telling about for the customer. So
there's many kind of listing sites, but they don't actually
do anything, They just list the product. And so therefore,
(07:33):
in terms of acquiring a customer, you may as well
have done that yourself, and that is the challenge. More
is not always more.
Speaker 3 (07:40):
In fact, it can be a distraction.
Speaker 2 (07:43):
I know that we've worked really well together because you've
given us such beautiful and exclusive product, and I'm.
Speaker 3 (07:48):
Super excited.
Speaker 2 (07:51):
A street I haven't been yet, so I know you've
got to one problem for the launch of this podcast.
But it's absolutely beautiful product, and so who you hang
out with is what creates your reputation, and reputation is
really really important, and online reputation is as important, if
not more, because people can vote with their feet.
Speaker 3 (08:12):
And I always used to say this that I live.
Speaker 2 (08:15):
In a two dimensional world in running website, and so
people can't smell, they can't touch, they can't feel, or
can't even see the real ambience. And so that's why
the description, the product description is so important and so unique,
and it's why we push so hard for exclusives and
the photography, so together with the reviews that we just
(08:36):
spoke about, but then also the photography and the description.
The other thing is in our space is everything's not equal.
Like if you're buying a hotel room, you know exactly
what a hotel room is going to be. If you're
buying an airline seat, you know you're going to get
from A to B. It's not the same with experiences,
and it's not the same with products. So I would
argue that sometimes less, it's more, and who you hang out.
Speaker 3 (08:57):
With will create your reputation.
Speaker 1 (09:00):
It's funny you said that because we've just opened up.
Speaker 4 (09:04):
Well and think about twelve or fourteen weeks ago and
there's this beautiful lane way and the first thing I
thought of was you not made personally thought of Red Balaane,
not you.
Speaker 1 (09:16):
Per first thing I thought it was, hey, you know
what I can see here? I can see red balloon.
Speaker 4 (09:23):
But it still comes back to us because we've got
the bad bones. But we even though the ambience is there,
an experience is all encompassing. It's not just and because
we are about food, so it's all about curating the
right food, making sure the right service and that delivers
the experience.
Speaker 1 (09:40):
But having said that, I think you made a lot
of sense to.
Speaker 4 (09:43):
Me now, because you know it's difficult and as a
product supplier or even anybody who wants to sell their products,
I mean, do I go out and tell the whole
world and the expect people to come in because I
like this product, or especially with online on the many
different platforms, or is it better that I stick to
that same rule that I think you also mentioned once
(10:03):
in a podcast, is that set eighty twenty rule. You
focus on that twenty and you build on that twenty.
And even after all these years have experienced, it's always
a question that pauses, and I keep asking myself, do.
Speaker 1 (10:18):
I keep going down the track. Oh has the world changed?
Speaker 2 (10:21):
Yeah, look, the world has changed, Jay, and it's not
going back. So there's two old guards of the travel industry.
I mean, you know, we either have to get on
with it or not. But I am super excited about
what it represents as well. So you know, there is
not one day that I'm not using some different AI tool,
and there's not one day that I know my customers
(10:42):
aren't using AI tools. And so how we make sure
that those product descriptions and the integrity of the data
is really really important when it comes to AI, So
you do want to be able to They now call
it AIO.
Speaker 3 (11:00):
I think that's.
Speaker 2 (11:01):
Very important, which is AI optimist of websites. So anybody
here who is running a website needs to make sure
that their product is accessible because the way people are
finding product. The other thing we've started doing is tracking
AI as a channel, which is all of the large
language models, because there's a lot you know, everyone talks
(11:21):
about Chat, GPT and Gemini, but there is far more
than that, and we do know that those as channels
are growing, so we want to make sure that we're
at the top of the list and that our product
has integrity and that people like what they're finding, because
then if they find it that way, they'll keep coming.
And so anybody working, first of all, you've got to
(11:42):
make sure that your description is matching the actual experience
of all the product or whatever it is. The detail
is important of getting it right. But no matter what
AI tools you're using, it still requires the human element
of making sure it all which just makes sense. So
I am super excited. I know it's going to open
(12:04):
up new audience, but we are in a world of.
Speaker 3 (12:07):
Change right now in Australia.
Speaker 2 (12:09):
Another massive change has been how the regulators have changed
by Our pay Later. That is impacting retailers in terms
of product and how they sell it. They now to
use buy our pay lady, you've got to go through
a credit review. People don't necessarily want to do that effectively.
It was the old layby, but it's moved into a
different realm that's impacting online channels as well. So we've
(12:31):
got to you know, I remember when it was launched,
we go, oh my goodness, and then we all loved
it so much, and now we've got to move to
something else. So I guess that's the point of what
it is. To be in business having had Red Balloon
now for nearly twenty five years. What I did in
twenty five years ago is not what we're doing now.
To make sure we're finding and loving customers. However, trust
(12:54):
doesn't change. Got to be able to trust the brands
you're working with.
Speaker 1 (12:58):
Yeah, that's good.
Speaker 2 (12:59):
Thanks, So Jay's there one quick final question before we
wrap up and you get your invitation to me to
go and see.
Speaker 4 (13:11):
Well, I think what's going to be great moving forward
is I think that's also a little bit of things
that sticks to mine is about when you're talking about
trusting the people, I think the collaboration that we will
do together moving forward has got to be a lot
more strategic, a lot more instead of just I'll make
(13:33):
a decision, this is my product, here you go and
sell it, you write the description, because I think it's
all about that joint planning and it's about sharing the
customer insights and co marketing it together. So it's good
because it's give me a lot of foddle to go
back and rehash and rethink, and I think it's very
(13:53):
vital that as we move forwards, you say we're kind
of like oldies. But one thing I can never give
up on. And it's actually customer service, and you are
it because every time when I see you, I'll never
forget the first.
Speaker 1 (14:06):
Time when I met you. You know, you still maintain
that relationship.
Speaker 4 (14:10):
Doesn't matter that we don't talk, we don't see each
other for months on and your schedule is far more
busy in than the Queen but the king. But then
at the end of the day, every person that you
meet still has the place in your heart and you
have time for them. And that's always been a valuable
lesson that I've taken to harmy.
Speaker 1 (14:30):
So thank you very much, Oh.
Speaker 2 (14:32):
Thank you, Jay, And they're very lovely words. I guess
one of the things that I didn't realize when I,
you know, started all those years ago, is how many
of us were going to get old together, you know,
like seriously, we have written so many ways. So my
message I suspect for listeners have handpicked is that while
(14:52):
see everything seems urgent, everything whether it's you know now
AI or the change in payments and whatever it is,
there will be another day.
Speaker 3 (15:03):
So we have to think strategic.
Speaker 2 (15:06):
And I was always rushing, rushing, rushing, but long term
partnerships also creates the flywheel. It creates momentum and we
didn't realize how long we were going to be working together.
So I recommend that people find partners that they like
and get along with.
Speaker 3 (15:22):
I think that sounds like.
Speaker 2 (15:24):
A great idea anyway, Jay, thank you so much for
coming on this episode of hand Picked. I do look
forward to coming down and seeing the new venue Dalton.
This is a great Australian brand, a great family business
who I also happen to know, so congratulations on your
new role there, and please anybody listening remember to subscribe
(15:47):
and share with your friends.
Speaker 3 (15:49):
Thank you and see you soon.