Tag: Market Research

New York, USA – In a greater aim to widen its studies of trust across global institutions, global communications and public relations firm Edelman has announced the launch of the Edelman Trust Institute, which is now the firm’s dedicated global center for studies concerning trust across businesses, media companies, academia, and the general civil society.

The global center launch is built upon the company’s reputation for trust-centric studies for the past two decades, most notably its Edelman Trust Barometer, a series of studies that the firm conducts across various markets and industries globally to measure the level of consumer trust these institutions have built across their clients and their constituents. 

Russell Dubner, global vice chairman of Edelman, shared that the reason they invested in the Edelman Trust Barometer is their strong belief that consumer trust and its impact on the world deserved to be studied and understood.

“Society is at an inflection point, and we believe that trust is the foundational currency of stakeholder capitalism and a defining business metric for companies and brands. Trust guides leadership, strategy, policy, and sustained action and has never been more valuable to institutional and business leaders,” Dubner said, who now also serves as a chairperson for the Trust Institute.

The ultimate goal of the Edelman Trust Institute is to provide leaders across institutions with a deeper understanding of the state of trust and equip the C-suite and boards with actionable insight about the changing dynamics of trust-building and erosion. The Trust Institute will serve as a partner to academia, leading companies, foundations, and other institutions committed to understanding and expanding trust.

Richard Edelman, CEO at Edelman, notes that with business deemed to be the most trusted institution globally and inevitably himself afforded the same reputation, it’s clear that trust is the element that binds business stakeholders together. 

“This is why we are making a multi-year investment in a collaborative endeavor with academia and other leading thinkers to build a deeper understanding of trust and its linkage to success. The Edelman Trust Institute is the next chapter in our commitment to the study of trust,” he stated.

As a start, the Trust Institute will be releasing a slew of brand trust reports throughout the latter parts of June this year, as well as the aspect of returning to work by September. They will be also releasing a series of studies about sustainability by November this year, which coincides with the observance of the UN Climate Change Conference (COP 26).

The company will also delve into a library of the firm’s global trust tracking data on more than 200 companies and brands as well as a growing pool of trust data based on the firm’s proprietary algorithms that process ‘trust signals’ from editorial and user-generated content. This data, traditionally used for the firm’s trust methodology, R&D, and client engagements, will be used to generate new insights and foresight on the state of trust.

In addition, Edelman has also appointed Justin Blake as the Trust Institute’s first-ever executive director, where he will be responsible for setting the Institute’s editorial agenda, forging partnerships with academic institutions and other partners, overseeing the development of Trust Labs and content related to the state of trust.

He still retains his other current position as global chair of Executive Positioning at Edelman, and will report to Dubner, and will be based in New York.

“At the time we were doing one report a year. This past year we produced 12 Trust Barometer reports and Trust is now at the center of conversations by leaders across institutions. It has been incredible to have a ring-side seat as it’s grown in scale and importance. I’m excited to now help it expand its impact, supporting institutions as they seek to build and maintain trust during these skeptical times,” Blake stated.

To strengthen the capabilities of the Edelman Trust Institute, the firm has assembled a core group of advisors to shape its research, programming and partnership agenda. This diverse group of professors, former journalists and authors are authorities on the intersection of business, media, policy and civil society.

The board includes Pierre Chandon, the L’Oréal chaired professor of marketing—Innovation and Creativity at INSEAD and director of the INSEAD-Sorbonne University Behavioral Lab; Stephanie J. Creary, organizational scholar and assistant professor of management at The Wharton School of the University of Pennsylvania, among others.

Kuala Lumpur, Malaysia – Employee engagement drivers have seen significant changes from 2019 in the Malaysian employee experience (EX) scene, new research from experience management (XM) company Qualtrics.

The research was conducted to observe the ongoing trends among Malaysian workspaces, and their goal to improve employee engagement through company strategies, dedications, campaigns, and great leadership. The shown results imply what employees look forward to in their respective workspaces and institutions.

The research noted that some of the key EX drivers among Malaysians are ‘feeling that my career goals can be met’ and ‘being proud of the company’s efforts to have a positive impact on the world’, as well as ‘confidence in senior leadership to make the right decisions, feeling a sense of purpose from work’, and ‘feeling a sense of belonging’.

Meanwhile, Qualtrics’ 2019 research on the same topic revealed the key drivers ‘were receiving recognition for good work’, ‘seeing a clear link between work and strategic objectives’, ‘opportunities for learning and development’, ‘manager support in career development’, and ‘confidence in senior leadership to make the right decisions’.

“2020 irreversibly changed the working world, and globally we saw engagement drivers shift considerably last year. As businesses and governments look forward to 2021 we expect to see these engagement drivers evolve once again as restrictions continue to change,” said Lauren Huntington, EX solutions strategy for SEA at Qualtrics.

Despite the challenges faced by businesses and government in 2020, overall levels of employee engagement in Malaysia increased to 67% in 2020, from 54% in 2019. This is in line with the global average, which rose 13% from the last year (66% in 2020 versus 53% in 2019). Meanwhile, the intent to stay within an organization for three years or more was at 71% in 2020.

In addition, well-being, which is an important contributor to overall EX, continues to be a priority for workers and is predicted to be a key trend for organizations in 2021. A sense of belonging is of particular importance in the context of well-being. Employees who feel like they belong are almost five times more likely to rate their well-being favorably than those who feel like they don’t belong (78% in 2020 versus 16% in 2019).

“To ensure teams are provided with the support and services they need in fast changing situations it is critical leaders are able to understand how emerging trends are reshaping the workplace, and what they can do to design and improve employee experience,” Huntington stated.

The research also noted that 93% of employees believe it’s important their company listens, with 80% saying they have the opportunity to feedback. However, only 34% say their company acts on feedback well.

The research revealed that the business impact of listening and acting on feedback is huge. When organizations do take action, scores increase across employee engagement (90%), wellbeing (87%), and intent to stay (87%).

“While it’s pleasing to see employers listening to their teams, the study outlines the critical importance of acting on feedback. There is no one size fits all approach to improving the employee experience. By capturing responses from their teams across the entire employee lifecycle and in key moments that matter, businesses are able to design improved experiences,” Huntington concluded.

Hong Kong – Due to the prolonged economic impacts brought by the COVID-19 pandemic, the confidence rate among small and medium businesses (SMBs) is at an all-time low, according to a new survey from professional accounting body CPA Australia.

Only 16% of surveyed Hong Kong small businesses reported growth last year, and only 21% expect their business to grow this year. Furthermore, the survey also stated that the weak outlook is reflected in the cautious approach of Hong Kong small businesses’ increasing their headcounts. Only 12% of respondents expect to increase staff in 2021, compared to the APAC survey average of 36%.

In addition, Hong Kong small businesses are also less inclined to innovate, with only 8.5% of respondents stating they will introduce new products or services in 2021, compared to the average of 23% in the APAC.

“For two consecutive years, expectations of business growth among Hong Kong small businesses have been the lowest of the surveyed markets. 53% of respondents identified COVID-19 as having had a major negative impact on their business operations in 2020, and 65% of them expect to need one year or more to recover,” said Janssen Chan, 2021 divisional president for Greater China at CPA Australia.

When asked what major actions businesses took in response to COVID-19, small businesses in Hong Kong were most likely to have sought government support and subsidies (33%), reduced capital expenditure (32%), and reduced staff numbers and costs (22%).

The response is also reported in other findings that beginning or increasing the focus on online sales was one of the key actions taken by small businesses in many of the markets surveyed.

“The relief measures announced by the SAR Government supported small businesses to combat the worst of the pandemic. According to the survey, 44% of the respondents sought external funds for business survival. Using government grants as the main source of external finance jumped from 9% in 2019 to a record high of 33% last year,” Chan added.

Chan also noted that the government’s initiative to issue electronic consumption vouchers, as announced in the Hong Kong Budget, is one great opportunity for SMBs in taking advantage of e-commerce and digital payment options. He also recommended reopening applications to the Distance Business Programme to continue driving digitalization and technology adoption of small businesses.

The Distance Business Programme is an initiative by the Hong Kong government to support enterprises in adopting IT solutions to continue their business and services during the epidemic.

“While business innovation may involve additional expenditure in the short term, small businesses in Hong Kong should be more proactive in reassessing their resource allocation and consider innovating through the adoption of technology. This could enhance their long-term competitiveness and help them keep pace with their peers in other Asia-Pacific economies,” Chan added.

The survey recommended Hong Kong businesses to consider certain measures such as managing cash flow and debt closely paying attention to the cost of external financing, leveraging government support schemes to increase the adoption of technology, as well as to identify, invest in and adopt new technologies to keep innovating. 

Jakarta, Indonesia – A large majority of consumers across Asia Pacific are receptive to contextually relevant ads, according to a new report by digital ad verification Integral Ad Science (IAS).

According to the report, 96% of consumers in Indonesia, 91% in Singapore, 86% consumers in Australia, and 75% in Japan prefer digital ads to appear alongside relevant content. Consumers value seeing ads that are related to the topics or articles they’re consuming online. Relevant ads are not only more memorable, but also more likely to foster a favorable consumer opinion toward the brand, noted the report. 

Furthermore, consumers don’t just simply prefer contextual relevance; their perception of an ad is also impacted by it. Roughly 9 out of 10 consumers in Singapore and Indonesia and more than 7 out of 10 in Australia and Japan say their perception of an online ad is impacted by the surrounding content on the page.

Consumers in APAC tend to prefer contextual relevance of the ad be present across all verticals. Across the board, consumers paired the ads they prefer with articles categorized in the same content vertical. For example, 90% of consumers in Japan, 86% in Australia, 82% in Singapore, and 76% in Indonesia preferred entertainment ads alongside entertainment articles, and a similar sentiment was observed across verticals.

“[The] research shows that the quality of an advertising environment can influence how consumers perceive ads and associated brands. The APAC data clearly shows contextually relevant ads impact consumers beyond their immediate response, forming part of their longer-term recall and favorability towards a brand,” said Laura Quigley, SVP for APAC at IAS.

She added, “Contextual targeting represents a major opportunity for brands in 2021 and understanding how context influences consumers’ perception of ads is critical to capture long-term interest. For marketers, this is essential to stand out within increasingly crowded marketplaces and drive action as a result of ads.”

Singapore – Over-the-top (OTT) video streaming reaches 392 million people across Asia Pacific, according to a new report from global video advertising platform SpotX.

According to the report, over two thirds (69%) of video viewers in the region watch streaming video at least once a week, confirming that both the audience size and regularity of OTT viewing have matured and entered the mainstream. The top three markets for OTT viewing were Singapore (91%), Australia (81%), and Indonesia (76%). 

In terms of daily streaming, OTT viewers watch more than two hours of content a day, often out-stripping traditional TV and video-sharing platforms. The leading markets for OTT consumption are the Philippines, Indonesia, and Australia. 

The majority of OTT streaming is done through mobile devices, evident across developing countries. However, smart TV viewership is growing quickly, especially in Australia, Singapore, and Vietnam, where at least one in five video viewers streams through a smart TV.

Meanwhile, most video viewers (67%) prefer to watch free, ad-supported content versus only 23% who prefer to pay for an ad-free service. There is also a clear acceptance of ads in exchange for viewing free content, with 86% of viewers saying they don’t mind watching ads – provided the ad loads are kept light. Also, streamers say that OTT ads are more effective than TV ads at attracting their attention across Southeast Asian countries.

“We are only scratching the surface of the possibilities in OTT. Not only have users grown due to the stay-at-home regulations, but it is a habit that Indonesians will continue to pursue post-pandemic,” said Crisela Magpayo Cervantes, principal partner at Mindshare Indonesia. 

“Local original series and movies, Korean drama, and sports are driving OTT growth as are different acquisition strategies, through telco partnerships, and new funding models,” she added. 

The research was conducted across the markets of Indonesia, the Philippines, Vietnam, Thailand, Singapore, Japan, and Australia through the help of Singapore-based research firm Milieu Insights, which conducted a quantitative survey of 7,000 people across the aforementioned markets.

Singapore – Interactive video ads have shown higher preferences among ad viewers, especially to users in Southeast Asia, compared to standard video ads on mobile over-the-top (OTT) platforms, new survey from video advertising platform SpotX shows.

The study showed that interactive ads saw consistent uplift in post ad engagements by viewers. In the survey, the interactive version of a particular video ad saw a 29% uplift in their likelihood to visit the brand’s website, and 17% increase in their likelihood to click on the ad to learn more. 

These findings were supported by actual campaign performance. Across six mobile OTT campaigns in Southeast Asia, the interactive video ads delivered a 54% higher clickthrough rate (CTR) compared to the standard video ads. All campaigns exceeded industry CTR benchmarks.

Additionally, the likelihood to describe the ad as ‘engaging’ saw a 13% uplift among interactive video ads while an 8% uplift on viewers’ likelihood to say they liked the ad compared to standard video. 

On the other hand, data from another SpotX research shows that 86% of OTT viewers in Indonesia and 71% of OTT viewers in Philippines most frequently watch videos on their smartphone. Mobile OTT has earned a strong reputation delivering industry-leading KPIs like completed view rates, cost per completed view and viewability.

For Shrivardhan Sarda, senior director of demand facilitation for APAC at SpotX, the data shown reflects the concept among advertisers that creative ads do matter. 

“However, being more creative doesn’t have to be hard and what this research shows is that by making simple but impactful interactive additions to existing video ads can significantly increase effectiveness particularly on OTT which is monopolizing consumer attention”, Sarda stated. 

London, United Kingdom – Market research company YouGov has announced upgrades to its online tool Global Fan Profiles, an insights service platform, which now includes tracking of fan sentiments regarding esports globally.

Initially, Global Fan Profiles is built upon more than 300,000 interviews per year collected on a continuous basis. It provides an instant view of the size, make-up, attitudes, and behaviors of fan bases in 32 key esports markets including the United States, China, India, Brazil, Germany, South Korea, and Malaysia.

Furthermore, the online tool is designed to help properties, sponsors, and rights holders identify the size of their fan bases, who their fans are, how fans consume content, and how they align with the thousands of brands and audience trends YouGov tracks on a daily basis.

According to the company, the enhanced Global Fan Profiles means shedding light on the nuisance marketers often face when dealing with the specifics and market base for the esports industry.

“It gives an instant view of fan bases around the world, providing comprehensive and precise data across 200 leagues, 50 events, 45+ game titles, and 2,000 teams in sport and esports. Subscribers can easily create side-by-side comparisons of individual game titles, leagues, events, tournaments, and team fan bases,” the company said in a statement.

YouGov Global Fan Profiles provides a much deeper dataset than just isolated esports and sports attitudes. Subscribers can connect data across sport and esports with core demographics, media consumption, brand preference, and interest, as well as following, viewing, and awareness.

Some of the benefits also include:

  • –Sponsorship: Develop compelling propositions using real data on the number of fans a title, league or team has, who they are, and how they align with potential sponsors 
  • –Esport properties: Create side-by-side comparisons of individual game titles, leagues, events, tournaments, and team fan bases 
  • –Marketing: Use media consumption data to more effectively and efficiently reach target consumers 
  • –Strategy: Assess international market differences in fan base size and make-up to inform strategic plans and decisions 
  • –Broadcast: Prove growth and composition of a fan base to support broadcast negotiations 
  • –Sponsor activation: Use fan profile data to create laser-focused activation strategies with real impact 
  • –Benchmark: Compare fan bases with key competitors for internal analysis or external validation 

For Nicole Pike, YouGov’s global sector head of esports and gaming, the Global Fan Profiles tool can aid in “moving the conversation away from generic ‘esports fans’ and toward a more nuanced view of the distinct fan bases within this growing space.”

“Esports is such a valuable and fast-developing industry that properties, partners, and rights holders deserve to have accurate and always-on data at their fingertips. Sponsors are getting more sophisticated about how and where they choose to invest in the space, and YouGov Global Fan Profiles is the most comprehensive, in-depth, and valuable dataset in the market,” Pike stated.

Manila, Philippines – The current state brought by the global pandemic has seen a rise in consumption of over the top (OTT) media, particularly in the Philippines, a new report by technology company The Trade Desk stated.

According to the report, 36 million consumers streamed about two billion hours of OTT content per month – making OTT one of the fastest growing media channels in the country. OTT services enable viewers to stream professionally-produced video content over the internet on-demand, from any device including smart TVs, personal computers, or mobile devices.

More than half, or 55 percent, of all Filipino OTT users report streaming more OTT content during the pandemic than before. These habits are likely to persist even in a post-COVID world as 65 percent say they plan to maintain or increase OTT consumption after the pandemic ends.

Mitch Waters, SVP of Southeast Asia, Australia, and New Zealand for The Trade Desk, supports the idea that the pandemic has accelerated consumer trends in making OTT the next big thing in the market of TV media consumption.

“The shift to OTT streaming in the region, and specifically the Philippines where more than half of viewers are turning to OTT than ever before at higher viewing rates than other countries in the region, demonstrates the undeniable inflection point for TV consumption that will most certainly never turn back to the way it used to be,” Waters stated.

Philippines-OTT-Media-Research-The-Trade-Desk-Kantar

In terms of tuning in, 1 in 2 users prefer to tune in between the hours of 8 PM-12 AM, bringing streaming into direct competition with traditional TV for valuable primetime audiences. Filipino viewers are also looking to OTT for their favorite content, with 62 percent tuning in to OTT to watch their favorite programming versus just 54 percent on traditional broadcast.

Furthermore, more than 20 million Filipinos tune in to at least one ad-supported OTT platform, with 55 percent of all OTT viewers between 16-34 years of age, providing a new channel for brands to build relationships with this high-coveted demographic.

“As more young, engaged, and active Filipinos shift to OTT and are willing to view more ads, advertisers have an enormous opportunity in front of them. This provides an opening for advertisers to employ a data-driven approach with an improved advertising experience in a way that’s not possible with traditional TV,” said Waters. 

Kuala Lumpur, Malaysia – New report from integrated car e-commerce platform Carsome showed a significant change in private car ownership and the aspect of buying and selling of cars among consumers in Malaysia, Indonesia and Thailand despite COVID-19.

Malaysian and Indonesia consumers have shown a greater interest in buying cars after the pandemic lockdowns, with up to 32% and 12% of consumers respectively showing interest compared to pre-lockdown behavior.

Meanwhile, all three markets saw an increase in consumers wanting to sell their cars, with Malaysia registering a 133% spike of consumers, followed by Indonesians (up 52%) and Thais (up 15%). 

As more and more consumers are selling their old cars due to getting more cash on hand, the usage of car selling platforms, including Carsome, also became popular 55% among Malaysian respondents, 34% among Indonesian respondents and 19% among Thai respondents. 

The increase of consumers selling their cars all have primary reasons in doing so due to financial constraints brought by unstable income and lack of budget. Other reasons include selling the much older car in favor of an existing usable car in their property, savings for future circumstances, and uncertainty of the economy after the pandemic woes.

On average, most Malaysian respondents (58%) plan to buy a car in a span of 1-6 months, while Indonesians (64%) and Thais (63%) plan to buy a car in a span of 7-12 months. Those that buy a car in a shorter time span reason out that a car is urgent to carry on daily duties. 

In terms of selling their cars, all the three markets shared an equal view of selling their cars in a span of 12 months, adding up the reason for replacing the car and optimism for the economy post-pandemic on reasons why to sell the car, aside from extra finances. In addition, all markets have shared the same perception that car dealers and car inspection centers are vital in selling cars to reduce contact of COVID-19 (Malaysians, 83%; Indonesians, 92%; Thai, 94%)

More than 50% of Malaysian and Indonesian respondents have lessened their car usage, while Thais have maintained the level of car usage pre-pandemic and post-pandemic. 

“The COVID-19 pandemic has changed the way Southeast Asians think of car ownership and mobility. The need to balance socially distancing and financial stability is leading many to a conclusion that the idea of car ownership is valuable to them during the pandemic. The car industry will continue to thrive as more Southeast Asians plan their car buying and selling within one to six months, creating a significant flow of car sales in the industry,” Carsome said in a statement.

Carsome conducted the survey in October 2020 among 1,000 Malaysian consumers, 1,005 Indonesian consumers and 1,055 Thai consumers. The survey was carried out through online panels sourced by research agencies.

Manila, Philippines – Local-based private bank UnionBank has been honored the 2020 Philippines Excellence In Customer Experience by market research company Frost & Sullivan for its efforts in leveraging customer experience solutions in the banking industry through digital innovation.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. For UnionBank, the recognition goes to their excellence in ATM Ambience Experience and in Online Customer Experience, specifically their “initiatives to stay ahead of the demand curve by offering best-in-class, personalized customer experience with robust 24/7 services.”

Frost Sullivan UnionBank Award
The award is in recognition of bank’s initiatives to stay ahead of the demand curve by offering best-in-class, personalized customer experience with robust 24/7 services.

“The bank has used the customer experience framework of process, space, and people in its digitization process, bridging offline with online to deliver a seamless customer experience,” said Frost & Sullivan. 

Furthermore, the firm recognizes of UnionBank’s leverage of artificial intelligence (AI) and 5G technology to better anticipate customer preference and behavior.

“UnionBank has ramped up its digitization efforts in the past few years. A customizable system, self-service options, and personified robot assistant are among the digital options available to customers, half of whom now transact digitally. The bank also became the first in the Philippines to launch the smart branch leveraging 5G technology for seamless connectivity with internet of things (IoT)-enabled services,” said Edurra Talib, senior research analyst for Frost & Sullivan.