Share with us the latest trends in Digital Marketing and Analytics? What marketers can learn from them?
Here are some of the latest trends that are emerging in the marketing and analytics space, along with learnings for marketers:
Increasing trend of being proactive rather than reactive led by AI and intelligent algorithms: Consumer brands across the world are prioritzing proactiveness in favor of being reactive, and companies in Southeast Asia are no different. Brands use AI-generated insights to reduce go-live time by enabling marketing teams to take action immediately instead of waiting on different teams to run relevant campaigns. Consumer brands can also use intelligent algorithms to focus on insights that tie into metrics like LTV, engagement, revenue, etc. AI can also help brands keep a continuous track of changes in delivery rates, conversion rates, and usage. For instance, an online retailer can set up AI-powered alerts to notify any sudden change (increase or decrease) in orders placed along with what caused the spike.
Increasing role of AI in gathering insights and predicting behavior: AI-enabled platforms help brands identify customer cohorts to be engaged, type of communication that needs to be sent, and the best time and channel to send these communications. According to research, the usage of AI in marketing was valued at $11.73 billion in 2020, with an expected valuation of $82.70 billion by 2028, at a CAGR of 26.58%. Using AI, brands can analyze customer data, gather actionable insights, and identify ‘about to purchase’ and ‘churn-risk’ segments to engage using personalized communication. Brands and marketers can further optimize the communication through AI-powered dynamic A/B and multivariate testing, changing the message variants to the one that works best and in real-time. AI and machine learning can also be used to analyze and understand customer preferences and thus decide on the right time and channel to send communications on, ultimately boosting ROI.
Insights-led Segmentation is the way forward: The modern consumer is spoiled for choices and as such demands the brands they interact with to understand and cater to their needs and preferences. The only way consumer brands can keep up with these changing expectations is to lead by customer-centric strategies. In order to be customer-centric, it is important to develop a deep customer understanding, identifying their needs and wants, likes and preferences and hence craft meaningful engagement. Brands around the world are marrying behavioral science with insights-led segmentation to achieve this. Simply put, while the traditional segmentation model groups customers based on demographic and behavioural traits, the insights-led segmentation model delves deeper and analyzes preferences, lifestyle, spend patterns, and affinities to create a 360-degree customer profile. Brands can then leverage this understanding to predict a customer’s future needs and personalize the offerings accordingly. In order to set up an insights-led segmentation strategy, brands can start off by analyzing customer data in real-time and at scale. They would also need to invest in an intelligent engagement platform to build deeper analytics to identify cross-channel, customer micro-moments. Brands and marketers can then personalize to drive meaningful, omnichannel engagement.
How is MoEngage helping brands from SEA in delighting their customers? What are the metrics that improve & what impact is Moengage creating to the customer business?
Today’s consumers demand a consistent, personalized and always-on experience across multiple touchpoints. MoEngage helps brands in Southeast Asia achieve this through its insights-led engagement platform. MoEngage enables hyper-personalization at scale across multiple channels from mobile push, to emails, SMS, on-site messaging, in-app messaging, app inbox cards among others via connectors. By leveraging MoEngage’s AI-generated insights, brands can analyze customer behavior, segment them into cohorts, and engage with personalized communication at every touchpoint across the lifecycle. MoEngage utilizes native and third-party data sources to create a comprehensive, unified customer profile and understand the series of moments that make up each customer’s journey leading to a frictionless experience. MoEngage helps brands with real-time insights that can be used to change and cater to customer needs on the fly.
Marketers in 39+ countries use MoEngage to drive engagement and retention. Our platform operates at a tremendous scale, processing over 140B+ billion events and delivering over 80+ billion interactions every month. We have empowered the top brands in the world to enhance customer experiences and grow businesses.
Also read: “With Evolving Consumers’ Preferences, Cloud & AI Will Play A Central Role In Shaping The Adtech Industry In 2022” Geoff Soon, Managing Director, Snowflake
For instance, MoEngage’s platform has helped Blibli, a one-stop e-commerce platform in Indonesia, achieve a 43% increase in the repeat purchase rate and a 70% boost in engagement by analysing active users and running data-driven campaigns.
Alodokter, the leading Indonesian healthcare super app, was also able to achieve a 45% uplift in engagement by utilising MoEngage’s AI-based campaign optimization. Our AI-enabled content optimization feature, combined with rigorous A/B testing and personalized recommendations, enabled the healthcare super app to run push campaigns with improved click-through and conversion rates, increase engagement, arrest churn, and re-engage inactive users.
Research by MoEngage suggests- 40% to 70% of push notifications go undelivered in Southeast Asia’s Android market , please share with us what are the reasons for it & how MoEngage is addressing this challenge
Push notifications are a critical tool for brands in engaging with consumers, driving subscriptions and promoting products, especially in today’s digital and mobile-driven economy. For marketers, push notifications represent a key tool in their arsenal for driving consumer conversations, especially in the Southeast Asia region, which boasts some of the highest smartphone penetration.
Every undelivered push notification negatively impacts critical customer engagement metrics such as click-through rates and leads to lost opportunities to engage, convert and retain customers. Push notifications go undelivered due to various factors including user opt-outs, tight battery optimizations by Chinese Original Equipment Manufacturers (OEMs) that kill background app activity and connectivity issues between the device and the Google Cloud Messaging (GCM)/Firebase Cloud Messaging (FCM) platform. With Android OS holding 80% of Asia’s mobile operating system market share and the rising popularity of Chinese OEMs, it comes as no surprise that consumer engagement is being compromised with decreased user reachability.
This is exactly what we aim to empower customers with through our Push Amplification technology, which improves push notification deliverability on Android devices in Asia. Push Amplification, a technology pioneered by MoEngage, improves push notification deliverability by first identifying undelivered push notifications, acting as a fallback mechanism for FCM and then delivering these push notifications directly to customers’ devices which amplifies the overall delivery rates of brands’ push notifications. MoEngage’s Push Amplification Plus is the next leap forward for Push Amplification technology, which helps brands obtain exclusive access to deliver push notifications through an OEM’s own push service’s system channel. This service also always remains active and cannot be closed or killed by the device owner.
In order to cut through the noise, brands should consider personalizing their push notifications to increase push notification deliverability. Research has found that doing so can improve conversion rates and customer engagement by four times. Brands should first segment their users based on their location, customer journey stage, timing, past data, level of app engagement, previous purchase, and browsing history. Based on these insights, brands can then obtain real-time analytics, analyze behavioral patterns and preferences – such as identifying the peak periods in user activity, and build a prediction system by orchestrating customer journeys.
Please share the factors for the growing popularity of MoEngage in SEA markets, what has been the penetration strategy in the last two years.
MoEngage has a unique positioning in the SEA market given a very strong product offering complimented by local support in almost every country. We initially invested in local support in Indonesia with a team of 25+ currently, and in 2021 we continued investing locally with physical teams now in Singapore, Malaysia, Thailand, Philippines and Vietnam as well.
We realised very early on that digital companies cannot rely on just buying CRM products. Instead, they need ongoing support and ideas on how to use the product to the best of its ability. Building our localised support teams has helped our customers leverage the best technology complemented by local digital experts from the MoEngage team.
