Top 25 eCommerce leaders 2022: Lyubomir Minkov

Lyubomir Minkov (pictured), the senior vice-president and head of marketing for FairPrice Online, has certainly made waves, leading his team to take home six gold awards and one silver at MARKETING-INTERACTIVE’s Asia eCommerce Awards 2022, and being recognised as one of the top 25 eCommerce marketers in Southeast Asia.

With more than 16 years of professional experience across retail, tech and telecom, he brings a wealth of experience to his role at FairPrice group where he heads the marketing team for the FairPrice digital business as well as its performance marketing, CRM, and customer analytics CoE teams.

His expertise is largely built upon performance marketing for eCommerce, personalisation, life cycle management and customer segmentation – all crucial elements when it comes to FairPrice’s strategy.

Before joining NTUC, he spent six years as project manager at Roland Berger in Southeast Asia and Europe where he worked with large corporations and governments on digital transformation and marketing strategies. Minkov also served as the general manager for a Rocket Internet-owned eCommerce business in South East Europe.

Quietly driven and modest, he admits his responsibilities in the FairPrice Group have increased over the years. “I went from managing the growth of FairPrice Online, our eCommerce delivery platform, in the beginning to leading the central teams on performance, marketing, CRM and marketing analytics,” he shared.

Over the past couple of years, he has significantly strengthened Fairprice Digital’s performance, marketing, and CRM capabilities. By leveraging data to develop personalised and targeted ads, Fairprice customers enjoy a customised shopper experience both online and in-store.

Minkov believes that the key to performance marketing is to focus on customers’ preferences and habits to deliver a personalised shopper experience. “We focus on enhancing our digital ecosystem and establishing a 360 customer view so we can design personalised marketing campaigns at scale,” he said.

His team has developed multiple award-winning omni campaigns which integrate machine learning algorithms, including a FairPrice 9.9 campaign, which was aimed at increasing the number of online customers through personalised in-app milestone challenges.

The challenge was run across retail and online channels to encourage app engagement and resulted in impressive success with more than 100,000 participants. In collaboration with YouTube’s Director Mix technology, FairPrice also produced 41 hyper-tailored dynamic video ads, which achieved a 50% increase in marketing returns.

With his continued perseverance and determination to achieve results, Minkov is regarded as an industry leader and innovator.