BUSINESS MODEL INNOVATION

A. Social business design  

A1. Social mantra one-liner

A2. Product/service presentation 

A2.1 Sokfarm Products:

Sokfarm’s Coconut Flower Nectar is a manually extracted essence from coconut flowers using traditional Khmer techniques in Tra Vinh. This natural, mineral-rich product has a low glycemic index, making it ideal for children, diabetics, dieters, and athletes, providing stable energy and promoting health. Sokfarm offers a range of organic products from coconut flower sap, including Organic Fresh Coconut Flower Juice, Cider, Vinegar, Nectar, Aminos, and Sugar.

Using the traditional coconut flower massage technique of the Khmer people, the farmer must climb to hand-massage, slice off, and collect coconut flower sap at 5 times daily. A coconut flower yields 1 – 1.5 liters of coconut flower sap per day, continuously collected for 25 days.

After that, collect coconut flower sap and transport it to the processing factory in One-Piece Flow Process. At the Sokfarm factory (meeting ISO22000:2018 standards for export to the US, Netherlands, Germany, and Japan)

Sokfarm Organic Fresh Coconut Flower Juice Providing energy, electrolyte balance The product is made from 100% coconut flower sap, the best way to quench your thirst fast, electrolyte balance, and provide energy. Product highlights: Natural sweetness from coconut flowers The low Glycemic Index (GI) Rich in minerals No preservatives No added sugar Electrolyte balance, restore your health

Sokfarm Organic Coconut Flower Sugar The natural sweetness of coconut flowers – enhance your health Coconut flower sugar is a product made from 100% coconut flower sap. The product has a low glycemic index, rich in antioxidants, suitable for diabetics, and dieters, and helps to reduce stress effectively. Product highlights: The low Glycemic Index (GI) Non-refined sugar No preservatives Stabilizes blood sugar and blood pressure Processed at low temperature Rich in natural nutrients and minerals Supplies sugar to the brain

A2.2 Customer Feedback:

Over the past five years, our commitment to quality has received positive feedback from key partners and customers worldwide. Miss Universe Vietnam, Khánh Vân, praises our drink’s light and refreshing taste. Journalist Kim Hạnh highlights its rich nutrient content and suitability for diabetics. MC Thanh Thanh Huyền finds it an energy-replenishing delight for all ages.

 

Our Japanese distributor, Tomoko Ukai, is fascinated by our meticulous process and sustainable practices. Prof. Dr. Tran Van Hau from Can Tho University commends our business model for supporting farmers, climate adaptation, and public health. Japanese tourist Machiko Shoji appreciates our efforts to provide local farmers with a stable income through value-added products.

B. Business model 

B1. Business model overview

Our products are not only rich in vitamins and minerals with a low glycemic index, catering to health-conscious consumers, but they are also produced organically, supporting eco-conscious customers. We emphasize quality through rigorous controls and embrace local culture by reviving traditional Khmer crafts and creating sustainable livelihoods. Moreover, we also focus on Environmental Adaptation. We choose to grow organic coconut trees that adapt to climate change and resist salt intrusion.

We reach our diverse customer base through multiple channels. For health enthusiasts, vegans, and sports players, we use online platforms, retail stores, and direct sales. We ensure our products are available in supermarkets, organic stores, and via dedicated sales teams for food and beverage manufacturers and organic food distributors.

Our customer relationships are built on strong connections and knowledge sharing. For distributors and manufacturers, we provide comprehensive training and maintain robust connections through our dedicated sales team and annual Sokfarm Tours. For end-customers, we inspire healthier lifestyles through engaging articles and social media content, and we prioritize their feedback to ensure high satisfaction.

Key partnerships are crucial to our operations. We collaborate with local farmers for organic coconut supply, partner with distributors for efficient logistics, and work with financial partners to support cash flow and compliance. These partnerships help us maintain high product quality and sustainability, ensuring our offerings meet both local and international standards.”

Our revenue streams are diverse. We generate income from B2C sales online and in retail stores, B2B partnerships supplying raw materials, and unique tourism experiences like coconut flower tours. Our commitment to health, sustainability, quality, and local culture drives our revenue, supported by strong customer relationships and effective distribution channels.

Finally, our cost structure is carefully managed to ensure efficiency. We invest in farming, extraction, processing, marketing, and distribution. Key resources and activities such as sustainable farming, quality assurance, and brand building are crucial. Our partnerships with local farmers, distributors, and financial entities help us maintain these operations cost-effectively.

At Sokfarm, we are dedicated to delivering the best coconut flower nectar while supporting health, sustainability, and local culture.

B2. Economic value for customers

B2.1 Market size & potential scale

The global natural sweeteners market size is valued at USD 24.48 billion in 2023 and is expected to grow from USD 25.78 billion in 2024 to USD 42.61 billion in 2032 , achieving a CAGR of 6.48% during the forecast period (Fortune Business Insight, 2024). 

 

Along with that, the demand for natural sweeteners is increasing. The Asia-Pacific and North America regions stand out due to growing health concerns as well as the habit of regularly using sweeteners in meals.

 

In 2021, Asia-Pacific held a dominant share of over 30.0% of the market. This region, home to two fast-growing economies, China and India, has huge growth potential for the food and beverage industry.

 

In Vietnam, consumers prioritize using healthy products. This is reflected in the growing demand for products with healthier, stress-relieving ingredients or naturally derived alternatives (Kantar, 2024). Therefore, Vietnamese consumers are increasingly interested in organic products. Q&Me (2018) has shown that more than 88% of the population in big cities are interested in organic products, especially consumers aged 25-39 and with children.

 

Besides, consumers tend to consume products associated with corporate social responsibility. According to a report by Euromonitor (2023), 29% of people surveyed said they often choose brands with social responsibility and clear operational goals. Besides, 76% believe that their purchasing decisions can contribute to improving the problems the world is facing.

 

B2.2 Competitive landscape

B2.3 Desirability for customers

Health-conscious homemakers: Focused on the well-being of their families, especially those with diabetic or elderly members, looking for natural sweeteners that can replace industrial sweeteners without compromising on taste and nutrition.

• Dieters: Seeking sweeteners that support weight loss while providing sufficient energy during their diet.
• Vegan consumers: Prefer natural, unrefined products and avoid animal-derived products.
• Athletes: Searching for beverages that replenish electrolytes and aid muscle recovery post-exercise.
  

Product Integration: Utilize coconut flower nectar as an ingredient to produce other food and beverage items such as confectionery, soft drinks, and yogurt.
Market Access: Leverage their existing distribution channels, particularly for exporting products overseas.
Product Development: Collaborate with Sokfarm to create new products from coconut flower nectar.

 

Specialization: Focus on distributing organic and healthy food and beverage products.
Distribution Network: Have an extensive distribution network, including modern retail channels (supermarkets, convenience stores) and traditional retail channels (markets, grocery stores).
Market Reach: Capable of reaching and promoting products to a wide range of potential customers.
Market Trends and Margins: Benefit from market trends towards organic products and can offer favorable profit margins through discounts.

 

B2.4 Economic Value Proposition

End-customer: Sokfarm offers organic products made from coconut flower nectar that are much healthier than most sweeteners with a glycemic index (GI) of 35, lower than other sweeteners. These products provide customers with diabetes and related conditions a better choice.  Using organic sweetness helps controlling glycemic level, reducing about 18% (1) expenses dedicated for medications and hospital admissions.

Distributor: Sokfarm offers its distributors products a favorable sales policy. Our incentive programs reward distributors for exceeding sales targets up to 5% (2) of the surplus revenue, enabling them to achieve healthy profit margins. We also provide comprehensive support to retail agencies and distributors, including sales training and product knowledge through online and offline workshops and talk shows. Additionally, we supply promotional materials such as standees and content for promotional articles to assist distributors in launching new stores. If they attend business fairs or events, Sokfarm can support up to 50% (2) of the booth cost.

Furthermore, by offering consignment stock options, we give distributors the flexibility to sell Sokfarm’s products with reduced financial risk. This arrangement allows them to scale up their current product line to a larger volume and diversify their product categories. 

Manufacturer & Restaurant: They need to buy raw materials as input for their processes. Therefore, Sokfarm plays a crucial role as a supplier, offering them vegan customized products. Specifically for manufacturers, our products come with reputable quality certifications, which is essential for exporting to markets with stringent product quality requirements.

 

B2.4 Delivery value method

Channels to deliver value to customer

• Channels to reach potential customers and deliver value:

Sokfarm uses a variety of channels to reach all customer segments, utilizing both online and offline methods. Our online presence includes our website (sokfarm.com), social media accounts, and media reports. To date, more than 20 TV stations and 40 articles have featured Sokfarm and our journey in the coconut nectar industry. Additionally, Sokfarm sponsors events, campaigns, and activities, and participates in numerous domestic and international distribution fairs. We also support social projects and host sharing programs.

This sponsorship is a key element of Sokfarm’s marketing strategy, helping us achieve our Share of Voice (SOV) targets. By doing so, we can reach a broader audience and increase awareness of Sokfarm’s new sustainable and healthy products in the market.

• Channels to communicate:

Most of the time, we communicate with clients online through our Facebook group, “Món ngon cùng mật hoa dừa,” which means “Delicious meals with coconut nectar”(3). In this group, we share articles about preparing delicious dishes using Sokfarm’s coconut nectar products, helping people understand their value. Additionally, customers can provide feedback to our retail distributors or directly to our farm and factory, enabling us to address any issues promptly.

For B2B communication, Sokfarm maintains a dedicated group called “SOKFARM – HỆ THỐNG TOÀN QUỐC,” which means “Sokfarm – Nationwide System.” In this group, we provide updates on the status of our collaborations with partners and share memorable moments from our journey with sponsors and distributors.

• Channels to distribute products:

For retail distributors, we post detailed information about our products and their characteristics on our website and Facebook page. When they place orders, we use our own logistics system to process and deliver the products directly. For end-customers, we list our products on e-commerce platforms such as Shopee (4) and Lazada, making it more convenient for those who prefer online shopping over visiting physical stores.

Maintain relationship methods

• For business partner:

We foster strong relationships with our stakeholders by regularly visiting retail agencies and providing consulting services to assist them in achieving their sales targets. During these visits, we thoroughly discuss the characteristics and quality of our products to ensure a comprehensive understanding. Sokfarm currently operates a dedicated local sales department with a team of 6 members, tasked with connecting distributors from every region, including international ones, to Sokfarm.

Moreover, we organize an annual Sokfarm Tour (5), offering business partners the opportunity to participate in guided tours, strengthening our relationships and providing valuable insights into our operations and products.

• For end-customer:

We nurture relationships by regularly publishing articles on our website and fan page that inspire healthier lifestyles and promote the use of organic-vegan products like coconut flower nectar. We continuously update our products and activities on social media platforms such as TikTok and Facebook groups. Our sponsorships are designed to uphold Sokfarm’s brand image and reputation with customers (6).

Furthermore, on e-commerce platforms, we actively monitor feedback and promptly address any issues that arise with Sokfarm’s products, demonstrating our commitment to customer satisfaction and product quality.

 

B3. Target social impacts

Sokfarm’s social value proposition is centered on creating a business model which brings positive social impacts, ensures a stable source of income for farmers as well as protects the environment. Besides, Sokarm also places a great emphasis on improving community health through its products. By integrating traditional practices with modern sustainability goals, Sokfarm empowers local communities and makes a leading contribution to global environmental and social well-being. Sokfarm ensures to take into consideration 3 factors: Environment – Society – Governance equally. Moreover, Sokfarm became a member of the Pursuing Purpose 2021 Social Impact Startup Incubation  Program, co-organized by Seed Planter and the Canadian Embassy. 

 

For our key stakeholders, we have identified farmers, customers, and employees. We are committed to equipping them with the necessary resources and implementing suitable engagement strategies. This includes providing training programs, operating the Sok School, and supporting sports events – all aimed at effectively meeting the needs of these important stakeholder groups. 

This matrix highlights key environmental, social, and governance issues crucial for our stakeholders and company, aligning with the Sustainable Development Goals (SDGs). We focus on Saline Intrusion (SDG 13: Climate Action) by utilizing resilient coconut trees and sustainable practices, and address Refined Sugar Health Risks (SDG 3: Good Health and Well-being) by prioritizing organic production. Our commitment to the Khmer community (SDG 10: Reduced Inequalities) ensures a fair work environment with significant representation from women and ethnic minorities, supported by comprehensive training through Sokschools. Additionally, our Long-term Purchasing Policy (SDG 1: No Poverty) provides farmers with stable income and economic value, alongside annual charity events distributing organic rice. Our matrix visually represents these high-priority issues, emphasizing their critical role in our sustainable business strategy and commitment to creating a positive impact on our community, environment, and economy.

B4. Feasibility 

Sokfarm’s business model operates in the rich coconut-growing region of Tra Vinh, which is Vietnam’s second-largest organic coconut-growing region. This region boasts an extensive supply of high-quality organic coconut nectar, providing a strong foundation for Sokfarm’s operations. The company’s strategic location ensures a steady supply of fresh, organic raw materials, crucial for meeting production demands and delivering consistent quality to its customers. This strategic location isn’t just geographically advantageous; it provides access to a bountiful supply of high-quality organic coconut nectar, the very foundation of Sokfarm’s success. But Sokfarm’s impact goes beyond simply utilizing this resource. The company plays a pivotal role in elevating the economic value of coconut nectar for the entire region.

 

Sokfarm’s factory is equipped with modern machinery and technology. Sokfarm’s factory has undergone continuous improvements, reflecting the company’s dedication to optimizing its operations. In 2022, the facility was further enhanced with the installation of modern machines and equipment, significantly boosting production capacity. The factory’s efficient production processes enable Sokfarm to transform 80 tons of fresh coconut nectar into 20 tons of high-quality finished products each month, translating into an annual output of 240 tons of organic coconut nectar. The facility adheres to international standards, including ISO22000:2018, ensuring the highest levels of hygiene and product safety. Sokfarm employs innovative vacuum concentration technology, operating at a low boiling point of 55°C. This gentle process preserves the nutritional value and natural flavor of the coconut flower nectar, resulting in superior product quality. 

 

Sokfarm’s success is not just about its state-of-the-art infrastructure and technology; it’s also about the people who make it all possible. The company’s human capital, encompassing its farmers, workers, employees, and partners, plays a pivotal role in ensuring the feasibility and sustainability of its business model. 

Sokfarm’s workforce has grown steadily since its inception, reflecting the company’s commitment to creating stable and rewarding employment opportunities for local residents.  From a team of 3 employees and 8 farmers in 2019, it expanded to 100 employees and 35 farmers by 2022.  Sokfarm actively recruits for diverse positions, generating much-needed jobs and contributing to the region’s economic vitality.  The future holds even greater promise, with a projected 300 farmer partnerships by 2030.  The creation of jobs with stable income helps elevate the living standards of local residents, including a significant percentage of ethnic minorities and women.  Sokfarm’s operations not only generate jobs but also stimulate local businesses through procurement and services, and contribute to the overall economic development of Tra Vinh. Estimates suggest this has led to a 3-5 fold increase in the economic value of the region. This not only improves their quality of life but also injects purchasing power back into the local economy, stimulating further growth.

 

The company collaborates closely with farmers in the region, ensuring that coconut nectar is cultivated in accordance with strict organic standards. These partnerships extend beyond production, with Sokfarm providing farmers with training, support, and access to markets, fostering long-term collaboration and mutual benefit.

Sokfarm’s appeal extends beyond local workers, attracting young professionals with expertise in food technology, agriculture, and international business. These individuals bring fresh perspectives and innovative ideas to the company, contributing to its growth and competitiveness.

Sokfarm recognizes the power of collaboration and has established strong partnerships with businesses that share its commitment to sustainability and social responsibility. These partnerships provide access to new markets, expertise, and resources, further strengthening Sokfarm’s position in the industry.

 

Sokfarm actively engages with its key stakeholders, including farmers, customers, and employees. The company provides training programs, supports sports events, and operates the Sok School, all aimed at addressing the needs and interests of these important groups. The company has established the Sok School, providing English language classes to the children of its employees. This initiative aims to empower the next generation with the skills and knowledge they need to succeed in an increasingly globalized world.

Sokfarm’s efforts have not gone unnoticed. The company has received financial support from organizations like the Triple I Impact Fund, enabling it to further its sustainability initiatives and promote sustainable agriculture practices in the Mekong Delta. Additionally, Sokfarm has been recognized with prestigious awards, highlighting its dedication to social responsibility and environmental stewardship.

B5. Profitability

B5.1 Cost Structure

In the process of creating value for society, we have designed a cost structure that ensures financial sustainability while aligning with the core principles of ESG criteria. By strategically allocating resources, we aim to maximize both profit-oriented activities and social impact. Below is our cost structure for conducting business activities and generating social value for the community.

Fixed Costs:

○  Factory & Warehouse: Our factory is equipped to handle all production processes, from raw material input to the finished product. Additionally, warehouses are essential for storing packaging materials and products before distribution to agents and manufacturers sourcing materials.

○  Machinery and Equipment: Inside our factory, modern machinery and equipment are designed to increase output and ensure consistent quality. By integrating advanced technologies, including vacuum concentration technology, we can enhance production capabilities and reduce energy waste. Depreciation of machinery is also factored into our fixed cost structure.

○  Raw Materials: To ensure a sustainable supply of organically produced raw materials, Sokfarm invests in its own raw material regions, accounting for 20% of input, while 80% is sourced from farms through technology transfer processes using organic materials. This approach not only ensures sustainability but also creates job opportunities and increases income for the community, providing employment for local residents, especially vulnerable workers and the Khmer ethnic group. This cost is expected to rise if Sokfarm expands in the future (doubling the organic coconut area by 2024) to meet export demand, increase customer base, and reduce risks related to environmental pollution from waste discharge, herbicides, and pesticides.

Variable Costs:

○  Raw Material Area: Sokfarm’s finished products are almost entirely made from organic coconut nectar, which is the main ingredient in our product line. This cost accounts for about 20% of our cost structure. We have addressed the issues of salinity intrusion and climate change since coconut trees are resilient to these challenges. Sokfarm has increased the economic value of coconut trees, as harvesting coconut nectar is 2-3 times more valuable than harvesting coconuts, providing employment for local residents..

○   Manufacturing Costs: We allocate nearly 20% of our budget to the production process, including investment in machinery. This encompasses various stages in the coconut nectar production process, ensuring the organic raw material region, and converting coconut nectar into complete packaged products.

○     Shipping Costs: Sokfarm primarily sells products through partner distributors, allocating 5% of the budget for transportation and export. This includes the cost of shipping to distributors and sea freight and customs services.

○    Research and Development (R&D) and After-Sales Services: This is a crucial aspect of Sokfarm’s process. Therefore, we allocate 5% of the budget for marketing activities to ensure our products reach the target audience and meet market demands. Additionally, we invest in after-sales services to maintain good relationships with partners and customers, ensuring convenience and health benefits when using Sokfarm products.

○ Marketing and Sales Costs: Accounting for 20%, we allocate a suitable budget for marketing campaigns to reach our target customers. As the coconut nectar industry is a niche market, Sokfarm has invested significantly to convey a high-quality image and a sustainably growing business within the coconut nectar value chain.

With new products derived from coconut nectar such as Sokfarm Fresh Organic Coconut Nectar, Sokfarm Fresh Organic Coconut Soy Sauce, Sokfarm Organic Coconut Sugar, and Sokfarm Organic Concentrated Coconut Nectar, we are committed to continuously expanding our business and delivering added value to customers. This expansion also addresses local employment and generates income for vulnerable workers. Consequently, the aforementioned costs are expected to decrease as we scale up production, optimize production costs, expand existing markets, and export large quantities to countries such as Japan, the Netherlands, Germany, and Australia.

B5.2 Revenue Stream

Our revenue comes from two sources: B2C (90%) and B2B (10%)

For the Business-to-Customer model, 

Direct Sales to End Customers: Currently, Sokfarm sells products directly to end customers when they visit our raw material areas or factory. This direct sales method accounts for 5% of our total sales. Besides purchasing products, customers experience the coconut nectar massage model and enjoy the natural sweetness of the coconut nectar right after it is extracted. These interactive activities not only promote a deep understanding of our model and products but also facilitate purchasing behavior. 

Partnerships with Distributors, Supermarkets, and Retail Agents: Sokfarm collaborates with distributors, supermarkets, and retail agents to display products on shelves, offering commission rates ranging from 20% to 44%. Second-tier agents receive a commission of 20%, first-tier agents are provided with rates from 25% to 27%, consolidated agents receive commissions ranging from 30% to 34%, and distributors enjoy rates from 40% to 44%. Currently, this distribution channel is Sokfarm’s main source of revenue, accounting for 80% of the market.

International Market Expansion: Sokfarm has successfully expanded its market scope internationally, accounting for 5% of our total sales. Our products have been exported to major markets including the USA, Germany, the Netherlands, and Japan. In 2022 alone, we sold a total of 400,000 product units in these international markets

For the Business-to-Business model, we currently work with several partners.

In addition to distribution and export channels, Sokfarm supplies products as raw materials to bakeries and businesses in the food and beverage (F&B) industry, as well as to food processing factories for nutritional products. However, this revenue stream currently accounts for only about 10% of total revenue, as these industries often prefer traditional ingredients over organic ones.

B5.3  Social Return on Investment Model (SROI) and Economic Return on Investment Model (SROI)

Social Return on Investment Model (SROI)

To measure social impacts, we have some categories below:

Sokfarm is committed to supporting the Khmer community by providing employment opportunities. Currently, 80% of our workforce consists of Khmer employees, with 70% of them being women. We strive to preserve traditional Khmer professions and enhance their economic empowerment through employment at Sokfarm.

Sokfarm leverages the unique coconut-growing region in Tra Vinh province, where coconut is a native crop. With over 25,000 hectares of coconut plantations, ranking second in Vietnam, Sokfarm has the opportunity to expand organic coconut cultivation areas. Additionally, traditional harvesting of coconut nectar provides a sustainable approach suitable for climate change challenges and saline intrusion. This initiative significantly addresses the impacts of climate change on crop structure and coconut yields in the Mekong Delta region

Level of nutrition can be improved when using Sokfarm’s products: 

Ensure a low glycemic index (GI)

Provide mineral: Natri, Kali, Maggie, Photpho

Nutritional supplements, Electrolyte balance

Replace sugar with natural sweeteners from coconut flowers 

Economic Return on Investment Model (SROI)

Profit margin: 20%

In the past, nearly 80% of coconut production in Tra Vinh province was exported through Ben Tre due to insufficient suitable consumption sources. However, thanks to Sokfarm, Tra Vinh’s significant coconut supply has found another consumption point through coconut nectar extraction. Extracting coconut nectar helps farmers increase economic value by 2 to 3 times compared to coconut fruit harvesting.

Therefore, the economic benefits derived from coconut nectar extraction not only help local farmers improve their economic situation but also assist Sokfarm in addressing the challenges of saline intrusion and climate change in the Mekong Delta region for the coming years

 

B6. ESG integration  

Sokfarm’s ESG approach across its organic farming, circular production methods with water conservation, safe working conditions, diverse workforce and training programs, fair labor practices and transparent procurement policies. Despite water conservation efforts, surface water use can strain local resources and impact ecosystems if not meticulously managed. Similarly, conventional electricity use might contribute to greenhouse gas emissions. To address this, Sokfarm could explore bio-gas power plants and rainwater harvesting systems, further minimizing their environmental footprint while maximizing positive social and economic impact.

C. Business model validation  

C1. Crowdfunding/crowdsourcing campaign

Sokfarm embraces the power of crowdsourcing to innovate, engage, and grow its brand. While we currently have no plans for crowdfunding, we actively explore other forms of crowdsourcing to involve our customers and enhance its offerings. By leveraging the insights and participation of a diverse crowd, Sokfarm continuously strives to improve our products and create meaningful experiences for our customers.

Crowdfunding Campaign:

“Give a Gift Box – Plant a Coconut Tree”

We are launching a crowdfunding campaign called “Give a Gift Box – Plant a Coconut Tree” aimed at promoting sustainability and supporting local farmers in Trà Vinh. We are offering the “HẠNH PHÚC Tet Gift Set,” which includes Organic Sokfarm Coconut Nectar, Organic Sokfarm Soy Sauce, Organic Sokfarm Coconut Sugar, and Organic Sokfarm Fermented Coconut Nectar, to corporate customers. The goal of this campaign is to raise funds to donate 1,000 coconut seedlings to farmers, covering a total of 5 hectares of coconut-growing regions in Trà Vinh. Each gift box sold corresponds to planting one coconut tree. By now, over 300 trees has been donated.

This initiative aims to create sustainable livelihoods for farmers and reduce CO2 emissions by 1,750 tons annually. By participating in this campaign, corporate clients will not only be gifting premium organic products but also contributing to a cause that supports local farmers and helps the environment. Each purchase will directly translate into one coconut seedling being donated to a farmer, making a tangible impact on both the community and the planet. This effort highlights the environmental benefits and the positive social impact, encouraging businesses to engage in meaningful corporate social responsibility.

Other forms of crowdsourcing:

Cooking Minigame with Products

Sokfarm organizes a cooking minigame where customers share their amazing cooking moments using Sokfarm’s Coconut Nectar Soy Sauce for a chance to win exciting prizes. Participants post these moments on social media with images, hashtags, and the product’s name, spreading awareness and increasing the product’s reach. This strategy leverages crowdsourcing by tapping into the creativity of the crowd. Customers actively participate by generating content, showcasing their culinary skills, and promoting the product organically through their social networks.

Community Sharing

Sokfarm has established a group for sharing recipes using their products to engage customers more deeply and spread the word to a broader audience. The group now boasts over 7,800 members. This approach effectively utilizes crowd creativity and crowd voting. Members contribute recipes, share cooking tips, and vote on their favorite dishes, creating an interactive and collaborative environment. By encouraging community involvement, Sokfarm harnesses the collective creativity and preferences of the crowd to enhance their products and foster a sense of belonging among their customers

Sponsorship of Vegan Workshops

Sokfarm’s products feature in vegan workshops, where chefs showcase their culinary skills. This strategy emphasizes crowdsourcing as it provides Sokfarm with valuable opportunities to engage with customers and receive their feedback. By participating in these workshops, Sokfarm leverages the collective insights and opinions of a broad audience, using this feedback to improve its products. This approach harnesses the power of crowdsourcing to gather and utilize customer feedback effectively.

Farmstay Sokfarm

Sokfarm has launched farm experience tours featuring activities such as coconut nectar massage, cooking, and traditional local activities for visitors. These tours cater to travel companies seeking educational travel tours for international and domestic students. This approach exemplifies crowdsourcing and partnership marketing. By collaborating with travel companies, Sokfarm leverages its extensive networks, marketing channels, and customer bases to reach a wider audience. This strategic partnership allows Sokfarm to benefit from the collective efforts and resources of various travel agencies, significantly enhancing their visibility and appeal without solely relying on their own marketing efforts.

C2. Learning curve

Starting from the fact that saltwater intrusion reduces the value of coconuts, Sokfarm has found a sustainable solution: growing coconuts for honey to increase farmers’ livelihoods. Not stopping there, Sokfarm also continues to train farmers in sustainable farming techniques, create more jobs for women, and attract tourists to contribute to local development. At the same time, the business also always pays attention to traditional factors such as the traditional way of collecting coconut nectar of the Khmer people, the nutrition of coconut nectar, economic value,…

Areas for improvement: 

However, the business still has many points that need improvement. First of all, Sokfarm needs to continue to improve the quality of machinery and equipment, both to diversify products and improve production capacity while ensuring the production process is friendly to the environment and human health.

At the same time, Sokfarm needs to build strategic partnerships to expand export markets, thereby creating more social impact and continuing to more thoroughly solve the problem the world is facing.