As Southeast Asia transitions to the digital economy, many businesses that have digitised are in a better position to leverage technology to achieve realistic and measurable business outcomes.
With consumer behaviour firmly shifting into the digital space, it is imperative that businesses move their operations and marketing into digital channels.
Businesses that are just dipping their toes in digitisation will face the harsh truth that 57 percent of digital transformations fail to hit the initial target that they first set out to achieve.
For larger businesses managing multiple retail and communication channels, a more holistic approach is required for them to utilise data insights and act on data-driven decisions.
With increasingly complicated marketing needs, how can the enterprise make sense of a unified marketing platform to successfully come out on top in the digital race?
The right Unified Marketing Platform to manage fragmented customer journeys.
According to a survey conducted by Mckinsey, ASEAN consumers were more likely to make online purchases during and after the pandemic, with Indonesia recording 60 percent of consumers intending to continue shopping online after the pandemic. The same survey also discovered that 68 percent of Thais and 80 percent of Filipinos are dropping brand loyalty in favour of new products and services.
With customers becoming more fragmented in the places they shop, businesses have found that spending on digital marketing increases the likelihood of an effective call-to-action being placed when the consumer is making considering their options online and this results in higher conversion rates.
As businesses take a first step towards all-in-one platforms, and able to harness a more powerful mix of marketing capabilities, marketers can now anticipate the customer's journey, and provide personalised experiences across multiple channels that will delight the customer.
Modern day, high speed marketing effort requires coordination between teams simultaneously across campaigns with different messaging across numerous channels. This requires a level of close-knit collaboration to keep up with the lightning-fast customer landscape, analyse data and extract meaningful insights from an array of information silos.
Data-Driven Marketing, creating hyper-personalised experiences
Business intelligence is expected to explode in Southeast Asia. According to Ernst & Young, technology platforms and the monetisation of data can create customer stickiness if it solves the needs of the masses. Businesses with data analytics and personalisation engines can provide superior experiences by offering a one-stop solution to potential customers.
Data analytics can enable businesses to track the performance of each marketing effort, and evaluate the trajectory of each programme in meeting the business objective.