Tag: Report

Singapore – Tech jobs in Singapore have been found to decrease in terms of demand and relevance in 2024, according to global job platform Indeed’s ‘Top 20 Best Jobs List’ for this year, which is based on salary, employer demand and the consistent growth in the number of job postings from 2021 to 2024.

In 2023, tech-focused roles took nine spots in Indeed’s top twenty list, whereas this year, only software engineers feature, with this current list also veering towards engineering and managerial roles. 

Directors of communications topped the list as the best job in Singapore, with tax managers, recruitment managers, senior mechanical engineers and procurement managers making up the top five.

Notably, Indeed mentions that the occupations with the largest percentage growth in job postings in the last three years include software engineers (122%), tax managers (106%) and clinic managers (85%). Roles witnessing the highest number of postings per one million total jobs were quantity surveyors (6,912), project engineers (6,695) and accountants (3,948).

Talking about the list, Saumitra Chand, career expert at Indeed, said, “Singapore’s best jobs list for 2024 mirrors the macro trends that are happening on a global level. Tech-based roles no longer dominate, highlighting the sector’s growing troubles, with layoffs and funding issues rife throughout the industry.” 

“However, it’s important to note that tech jobs are still available; they are just not seeing the exponential growth of previous years”, he added.

Singapore – Businesses are increasingly integrating customer data platforms with AI and analytics to personalise customer experiences and drive business success, according to a new report from customer engagement platform Twilio.

Data from the report suggests that amidst the widespread adoption of AI, businesses are grappling with an exponential increase in data volume, with Twilio Segment processing a record high of 12.1 trillion API calls in 2023.

This increase is indicative of a larger trend towards more sophisticated, data-centric operations, emphasising the essential role of real-time data processing and seamless AI technology integration.

With this in mind, Twilio emphasises that the ability to quickly harness data insights through CDPs that are open and interoperable with data warehouses is a critical competitive edge, enabling businesses to efficiently collect, unify, and activate data across various platforms.

Going into detail, other key findings of the report claim that data integrity is essential for deriving meaningful customer insights and leveraging AI competitively, as the effectiveness of AI hinges on the data it’s trained on. 

Additionally, data warehouses continued to spike in popularity as one of the most popular destination categories for customer data in 2023, as businesses pave the way for deeper analytics and AI-driven insights.

Talking about these findings, Kathryn Murphy, SVP of product and design at Twilio, said, “In 2024, more and more brands will turn to AI to deliver better, more personalised experiences for their customers. Our report showcases the essential role customer data plays in maximising AI’s effectiveness.”

“At Twilio, we’re seeing a significant trend towards leveraging the interconnectedness of AI, data warehouses, and digital communication channels. The ability to interoperate with data warehouses is essential, ensuring that CDPs act as a pivotal technology for brands eager to leverage AI and data to forge even stronger relationships with their customers,” she added. 

Meanwhile, Chris Hecht, SVP, corporate development and product partnerships, at Databricks, commented, “As businesses look to break down data silos and rely on a unified data platform to power their analytics and AI initiatives, the importance of data sharing and data quality has never been more apparent.”

“Our collaboration with Twilio Segment signals our dedication to ensuring that organisations leverage the full potential of their data – no matter where it lives – and can effectively bridge the gap from data to insights using cleaned and verified event profile data”, he added.

Singapore – Tolerance for bad customer service dwindles across Southeast Asia as consumers cut spending with a brand more than half the time after receiving poor service, research from Qualtrics XM reported. 

According to the report, consumers in SEA slash their spending with a brand after 53% of negative customer experiences, a number that is 2% higher than 12 months previously and slightly higher than the global average (51%). 

This increasing and worrying cut in consumer spending threatens a US$144 billion annual loss for Southeast Asia. 

The report revealed that nearly one-fifth, or 15%, of consumers’ engagements with brands in the region result in a very poor customer experience. The data is similar to the volume of reported poor experiences globally (14%), but is down from the previous 2022 data, when 18% of brand interactions resulted in poor engagements.

Qualtrics XM’s research showed that Thailand is second globally in terms of reported poor customer experiences, with 19% of interactions falling short. The country also recorded the largest increase in negative experiences among the 23 countries surveyed, with a rise of 6%-points.

Furthermore, organisations in Thailand also have the highest sales at risk index (11%), a number that is almost three times higher than Singapore (4%) and twice as high as Australia (6%), the US, and the UK (both 5%). 

The research also showed that, on a global scale, Filipinos are most likely to reduce their spending with an organisation (47%) after a bad customer experience. 

Meanwhile, countries in SEA like Indonesia and Singapore have seen some of the biggest reductions in reported poor experiences, with a 10%-point and 8%-point decrease, respectively.

Government, hospitals, parcel deliveries, auto dealers, and credit card and insurance providers are among the industries that have recorded the highest volume of bad customer service in Indonesia, Philippines, and Thailand. Meanwhile, in Singapore, government and hospital services rank the lowest in providing bad customer experiences.

The continuous bad customer service is leading to a loss of revenue, putting 8% of sales at risk in the region as consumers across all markets are reducing or cutting spending entirely after a poor experience. 

The report also emphasised that organisations must address consumers’ fear of losing the human connection as more AI is being incorporated into customer interactions. 

Southeast Asian consumers are some of the most comfortable with AI when engaging with brands, with more than two-thirds, or 69%, in Singapore believing it will improve customer service levels through faster service times, resolving complaints and queries, and faster deliveries. 

With this, organisations must ensure that AI positively impacts the customer experience in the region, prioritising human connection in the engagement, with consumers’ biggest concerns with the technology being a lack of human connection, misuse of personal data, the possibility people will lose their jobs, and service quality.

Moira Dorsey, head of Qualtrics XM Institute, said, “Customer service is in the spotlight like never before, and our research reveals how consumers across Southeast Asia are increasingly voting with their dollars. All it takes is one bad experience or wrong move for an organisation to be punished, which is why in 2024 companies need to be more careful than ever not to mistreat customers.” 

“Customers are placing a premium on human connection, and the most successful AI strategies are designed for this. By understanding how customers and their employees want to use AI, organisations can tailor their offerings and models for their preferences, and those that do will be rewarded with increased sales, more satisfied customers, and highly engaged and productive employees,” she added. 

Canada – While digital out-of-home (DOOH) has taken centre stage in recent years, static OOH continues to be in high demand. Currently, static OOH accounts for around 70% of the current OOH market inventory. This is according to the latest report from Broadsign, putting focus on critical insights into the current and future problems and possibilities in the OOH sector.

Even though static OOH has been successful in the digital age, most participants expressed that procedures for OOH are excessively complicated and hinder productivity. Only 17% of respondents said their teams ran well, and almost 50% said there was a serious need to improve workflow.

Additionally, 53% of respondents cited operational inefficiencies as a barrier to competition. According to participant input, improving OOH’s share of advertising revenue in the upcoming years will depend heavily on the modernization of static technologies and procedures.

Emerging technologies are opening up new prospects in the static OOH sector. These include automation tools, data, and analytics solutions. Interviewees for the report expressed a rising focus on data and analytics, along with real-time technology insights regarding inventory availability. 87% of respondents said their organisations would benefit significantly from adding greater automation to their processes.

When asked which trends or technologies they believed would have the biggest impact on the expansion of the industry going forward, 59% of respondents named data-driven targeting, and 47% named data measurement and attribution. 

The report’s participants prioritised sustainability, with many expressing their aim to implement more sustainable business practices in order to achieve carbon neutrality in the future. Approximately 64% of the participants had already pledged to decrease their carbon footprint, and 17% indicated that they intended to introduce sustainable practices. 

In terms of ongoing initiatives, 56% of participants were using energy-efficient LEDs for signage, 33% were using recycled materials, and 48% were recycling or donating vinyl after the campaign. 

More than 125 OOH professionals from 60 different companies throughout the world contributed to the report’s compilation. With screen counts ranging from a few hundred to thousands, organisations running hybrid static/digital networks accounted for almost two-thirds of the participants. 

Speaking about the report, Catherine Lee, Broadsign product marketing specialist, said, “Static is going to continue playing an essential role in the OOH market for the foreseeable future, but as more screens go digital, adapting with the times will be vital. To this end, there is more work to be done to automate the tools and processes used across the industry and reduce static OOH’s carbon footprint.” 

She added, “Our report findings not only reinforce these challenges, but point toward an optimistic future for the industry should it work together to evolve and overcome them. We’re excited to reveal our findings to the community and hope they’ll inspire conversions that drive change.”

Singapore – In a world of accelerated uncertainty, the future of customer experience(CX) innovation will be driven by brands that go beyond mere transactional interactions, focusing instead on creating relationship-based experiences that align with delivering customer value and fulfilling trusted customer preferences to achieve business goals.

That being said, this shift in innovation is brought about by digital-native customers today who are demanding greater value, more memorable and immersive experiences, as well as greater control over how they engage with brands, becoming equal stakeholders in the CX ecosystem.

To help navigate through this phenomenon, global cloud communications platform Infobip, with market intelligence firm IDC, have teamed up with MARKETECH APAC to present the report, ‘Revolutionizing Customer Experience through the Power of Conversational Commerce’, providing guidance to marketers and brands on how to get started and accelerate the journey towards customer-centric business resilience.

‘Revolutionizing Customer Experience through the Power of Conversational Commerce’ discusses the rising role of conversational commerce and omnichannel communication platforms in delivering a superior and contextualised customer experience throughout the APAC region.

The report highlights the value of conversational commerce in customer-centricity by giving readers an overview of its significance, showcasing how the future of CX is efficiently redefined through fostering meaningful engagements by using methods such as leveraging conversational mediums and communication platform as a service(CPaaS), showing examples of its use and effectiveness in the current industry.

Furthermore, the report also gives insights as to how marketers and brands can future proof their business through current and future advancements in conversational commerce, as well as the right standards for choosing a partner to embark with on the conversational commerce journey.

Lastly, several touchpoints for the utilisation of conversational commerce are explored geographically across APAC, displaying the industries encompassed as well as its nature of use across different markets in the region.

Teddy Cambosa, regional editor at MARKETECH APAC, said, “As businesses navigate the digital realm, the art of meaningful conversation becomes the brushstroke that paints lasting impressions. In the canvas of customer experience, the brush of dialogue not only shapes transactions but also crafts relationships. In this ever-changing business landscape like this, this report offers actionable insights for businesses to recognise the power of conversational commerce, which in turn paints a portrait of personalised service, resonates in the hearts of customers, and creates a masterpiece of loyalty and satisfaction.”

To access the report, you may download ‘Revolutionizing Customer Experience through the Power of Conversational Commerce’ here.

Singapore – As Chinese New Year festivities call for a lot of family time and feasting, 43% of Singaporeans opt for soft drinks as their beverage of choice when entertaining guests, according to a research from YouGov.

While both men and women were equally likely to buy soft drinks, there were some differences among the age groups. Young adults aged between 18-24 were more likely than others to say this (53%), whilst adults aged 55 and above were more likely to not purchase soft drinks during this time.

YouGov’s data on the attitudes of Singaporeans show that they view seasonal promotions favourably, with 37% agreeing that seasonal marketing campaigns for soft drinks are memorable and help them remember the brand. 13% disagree with this thought, and half are divided over their opinion.

Amongst all the festive marketing campaigns for soft drinks, in-store promotions or discounts appear to be the most appealing to Singaporeans (56%). Promotions on e-commerce platforms are next most appealing (26%), ahead of TV advertisements (21%) and social media promotions (17%). Collaborations with other brands or celebrities or influencers are comparatively less well received, with only 1 in 10 saying they find it engaging.

Additionally, 31% of Singaporeans are also attracted to limited edition flavours, and 29% are likely to buy drinks with festive themed packaging.

When it comes to buying soft drinks, supermarkets are the most preferred places (69%). Less than half of this number buy from e-commerce platforms (31%) or via delivery services of supermarkets/ groceries stores (26%). 1 in 5 buy from wholesalers or discount stores (19%) and 1 in 10 through convenience stores (11%).

Lastly, YouGov also revealed the brands that Singaporeans are likely to buy, with Coca-Cola ranking first at 71%, followed by A&W Root Beer (47%), Sprite (42%), Pokka (42%), and Fanta (37%).

Singapore – In the contemporary retail landscape, a customer’s experience with brands and companies has become an identifier of success. 

From being simply a transactional aspect, the customer experience (CX) now encompasses every interaction customers have with brands, from browsing through products to post-purchase support. And whether it be online, in-store, or through various touchpoints, it is undeniable that how brands service their consumers plays a pivotal role in shaping their perception of the brand and their purchasing decisions.

Recognising this, global cloud communications platform, Infobip has launched the marketing guide ‘What Customers Want (A Retailers Guide to Digital Customer Experience)’, to offer businesses a simpler way to understand what shoppers want and what solutions and tools they can utilise in order to successfully answer these needs at any given moment.

This guide is specifically designed for retailers that seek to succeed and set themselves apart in the crowded and competitive marketplace. It is also suitable for brands that look to improve the way they engage and service their customers to ensure retention and loyalty, thus driving long-term success.

Infobip found that some shoppers will not complete their purchases if they don’t feel secure online. Therefore, this guide provides businesses with new solutions they can explore to offer uninterrupted and smoother authentication processes. Additionally, it also contains informative and actionable insights that show retailers how to utilise the right tools to make personalised experiences easier for both customers and retailers.

Teddy Cambosa, deputy regional editor at MARKETECH APAC, stated, “In the ever-evolving landscape of commerce, retailers must recognize that the heartbeat of success is synchronised with the rhythm of impactful digital customer experience (CX) strategies. This guide offers a multitude of strategies which retailers can implement to promote a harmonious intersection of technology and customer-centricity.”

With this guide, businesses can have an idea of what can tick or tickle their customers and how they can effectively address this to deliver a more personalised, seamless, and satisfying experience that drives long-term success.

To access the guide, you may download ‘What Customers Want (A Retailers Guide to Digital Customer Experience)’ here. 

Singapore – 80% of APAC customers are likely to take their business elsewhere as a result of poor experiences, and 61% of consumers will not tolerate bad experiences and will walk away after just one or two bad encounters, according to the data cloud communications agency Vonage in their ‘Global Customer Engagement Report’ for 2024.

In connection to this, the report stated that APAC consumers claim that their poor experiences are mostly consisted of long wait times when speaking with an agent (63%), no way to speak to customer service via voice/phone (59%), lack of 24/7 support availability (48%) and lack of self-service support (46%).

These findings are especially important, given that the global data revealed that APAC consumers continue to prefer a range of channel options when communicating with businesses, with mobile phone calls (36%), messaging/non-SMS apps (31%) and phone calls via apps (29%) ranking high in preference. However, less than half (42%) indicated they are “very satisfied” when communicating with businesses.

As such, these findings underscore opportunities to leverage AI. With tools like AI-based virtual assistants, businesses are equipped to provide quick resolution, reduce frustrations and ultimately provide a more targeted and personalised experience for the user. 

With AI, businesses can specifically address urgent customer inquiries, provide smarter self-service at scale, and deliver smart interactive voice responses and skills-based routing to connect customers with an agent best suited to handle their query, preventing and mitigating a bad customer experience. 

Lastly, report findings demonstrate that consumers are embracing AI to make their experiences better. In fact, responses show a likelihood that chatbot and video chat usage will more than double within the next year, with 10% using chatbots today and 23% expected usage in the next six to 12 months. Additionally, 13% indicate they’re using video chat today, with 26% expected usage in the next six to 12 months.

Talking about the findings, Joy Corso, chief marketing officer at Vonage, said, “This data underscores that, to differentiate on customer engagement, businesses need an omnichannel communications strategy that allows customers to contact them seamlessly across their preferred channels.”

“Those that do will also benefit from the ability to leverage the powerful capabilities of AI across communication channels, such as voice, video, messaging, and chat, enabling them to augment live customer support. This goes a long way to ensuring personal and real-time customer engagement at every touchpoint,” she added.

Singapore – Around 79% of consumers in APAC are influenced by non-promotional content that shows a product’s value rather than discounts, a report from TikTok revealed.

The report showed that content factors such as product benefits, reviews, demonstrations, and visuals now hold greater value on a consumer’s decision journey. With this, almost 79% of APAC consumers are shifting their focus from price to value instead. Meanwhile, only 21% of consumers are influenced by promotions in their buying decision journey.

This number ranges for different countries in APAC, with Indonesia hitting as high as 41%, 27% in Japan, and 12% in South Korea and Thailand.

With changing consumer habits, APAC consumers are also now split into two distinct consumer categories: social-oriented and product-oriented.

Social-oriented consumers are those that rely on content recommendations from creators. They are less promotion-sensitive and have a higher degree of trust in their intuitions when buying something. Vietnam, Thailand, and Korea’s consumers tend to lean more towards this category.

On the other hand, consumers in Japan and Indonesia are found to be more likely to be product-oriented in nature. They prioritise product information and benefits in their content consumption, are more responsive to discounts, and tend to rely less on their intuition when making purchase decisions.

TikTok’s report also revealed that APAC consumers are increasingly looking for more content-driven video platforms that drive content-triggered shopping and facilitate intent-driven buying through search.

The report recorded that 1.9x more consumers regularly search for products on content-driven video platforms than on traditional search engines. Furthermore, a staggering 93% want to continue or increase their discovery, consideration, and purchase of products on these content-driven platforms in the next 1-2 years.

And while there are only 22% of consumers that are influenced by brands, 48% are actually influenced by ‘Content Communities’ or networks of brand and product content that drive interaction and co-creation among consumers and brands.

The concept of content co-creation has already become as integrated and concurrent as the consumption of content itself, with 73% of consumers now creating content in rather ‘fluid’ ways through trends, contributing in comment sections, and more.

Shant Oknayan, head of global business solutions for Asia-Pacific, the Middle East, Africa, and Central Asia at TikTok, said, “TikTok delivers content-led commerce to consumers. As technology continues to develop and economic factors influence consumer habits, brands must look to engage with their consumers in ways that provide them not only the best deal but also an entertaining, seamless experience that does not disrupt their task flow. The clear lines between shopping and other activities are beginning to blur, and so it’s even more crucial for brands to deliver content that helps consumers buy what they want, when they want to, and how they want to.”

Speaking on the report, Arthur Altounian, VP of client strategy and growth for APAC at GroupM (The Goat Agency), also said, “In this era of content and evolving consumer behaviours, it’s imperative for brands to facilitate intuitive decision-making and establish rapport with their audiences by striking the right balance between long-term relationship building and short-term promotions. Brands should remain consumer-first and mindful of creating a seamless experience, which includes engaging content and sales strategies that emphasise the product benefits and offer value.”

Global – Dentsu Creative’s 2024 Trends Report digs into the impact of optimism in an unpredictable future by combining the research and viewpoints of strategists, futurists, and innovators across its global network.

In an era of increased uncertainty about the future, “The Futures Less Traveled” urges brands and enterprises to use the opportunity to craft, innovate, and actively pursue the vision of the future they want to see. 

In addition to a number of sub-trends for more research, the paper explains five macro trends for 2024 and beyond. Every trend brings to light unexpected possibilities, such as the role that happiness plays in reducing worry, the power of narrative to effect change, and the capacity of profound local insights to promote linkages between disparate communities throughout the world.

Speaking about the report, Yasuharu Sasaki, global chief creative officer of Dentsu, said, “Against the backdrop of this uncertain world our report turns to hope as a deliberate choice, to empower us to take control and design our own futures. Through creativity, armed with the powers of technology and storytelling, we hold potential to pave ways for many exciting ‘Futures Less Traveled’, borne of core principles of optimism and ambition.” 

Meanwhile, Pats Mcdonald, chief strategy officer, EMEA, Dentsu Creative, said, “Hope is not a strategy but it is a choice. At a time of exponential change, no one can predict with certainty what the future will bring. But we can design for the future we want to see. We see consumers around the world taking control of a chaotic world through small but powerful acts of connection and self-care.”