Tag: revenue growth

As of 4th January 2024, Chrome has officially started restricting third-party cookies by default for 1% of Chrome browsers. Once a gateway to personalisation, cookies collected behavioral data that enabled targeted ads and allowed marketers to serve up personalised experiences. However, when Google announced the change in 2020 citing ‘greater privacy for users’, it posed a substantial challenge to marketers relying on third-party data as part of their marketing strategy.

The change necessitated a shift towards collecting first-party data instead, but according to a Deloitte report, commissioned by Google, despite strong support for recent privacy changes, privacy is yet to become as much of a focus for sell-side players in APAC as it is in Europe or the Americas. The top three reasons holding organisations back from investing were the future state of privacy being too uncertain (30%), believing that there is no need to do anything further until the timing of platform changes is made clear, (25%) and businesses thinking they cannot compete with large digital platforms on audience matching, (25%). 

Another strong belief was that the first-party data would never be good enough, (23%). And to some extent, this is true, as the problem remains that data is only valuable when marketers are activating it and deriving insights from it – in real time. Chances are, most brands are already collecting lots of first-party data, from transactions to downloads, emails, and website analytics. But with all that, as well as any new initiatives to collect more data, such as surveys and loyalty or reward programmes, how can they avoid this data going straight to the graveyard? 

It starts with equipping tech ecosystems for real-time data agility

Effectively tapping into the power of first-party data starts with creating a unified customer view. It requires access to tech ecosystems that are built for data agility and real-time behavioural insights that marketers can easily act on. Data agility enables a brand’s data to move at the speed of its business, giving marketers the ability to collect, analyse, and disseminate information quickly and efficiently to meet goals at scale. For the best results, a tech ecosystem should encompass all channels and allow for meaningful personalisation that will ultimately build loyalty and drive conversions. 

Additionally, first-party data strategies and supporting technology need to be compliant with GDPR and ever-evolving privacy laws on a global scale. By having the right data management solution in place, marketers can compliantly extract information from end to end and quickly incorporate it into their personalised, dynamic messaging strategy.

Generative AI tools also pose exciting opportunities for markers, with the potential to revolutionise customer engagement campaigns by providing creative and personalised experiences. These tools can power customer-centric interactions between consumers and brands by speeding up the delivery of campaigns and empowering teams with ideas and content to cut through the noise. They can help create versions of campaigns across multiple channels for more targeted and personalised reach, ensuring brands don’t miss out on opportunities to connect with their audience in the right way and driving value across every touchpoint.

To save the most time and drive the most efficiency, marketers should look for built-in AI capabilities among their existing tech stack, leveraging the real-time data already at their disposal and taking it to the next level.

But what does real-time really mean?

When chasing the North Star of having unified customer profiles, they must be made up of real-time data. True real-time data that’s accessible and up-to-date at any given moment—not when the system syncs, once a day, or every couple of hours. It’s not the same thing. And although the difference might seem slight, it can have an incredible impact on marketing efforts. Being able to reach people in the right way, at the right time, on the right channel with a relevant message, cannot truly be achieved with data that isn’t of the moment. 

An example of a brand that recognises the value of true real-time data is Picklebet, an Australian sport and esports betting site that paired Braze with their proprietary betting engine to build a solution that enabled the team to personalise and test offers to individual users based on their preferences across a mix of channels. As business needs evolved, it became obvious that they needed a platform that could support the real-time and cross-channel experiences that customers have come to expect. By leveraging Braze’s real-time capabilities, Picklebet increased sessions per user by 116%, increased retention by 13% and saw a 550% improvement in CAC payback.

Final Thoughts

As the privacy landscape continues to evolve, first-party data and data consent will become even more important. This makes having an agile, unified and real-time data platform the best way to stay up-to-date and relevant. Without this, brands risk slowing business growth and missing out on all-important customer engagement opportunities that drive revenue. Investing time, effort and resources into this area will drive flexibility and more profitable customer engagement strategies that are effective both online and off. 

What’s Next?

  • Conduct an inventory – Identify all the first-party data available in the organisation and check how it is analysed and used. 
  • Integrate AI – Determine which of your current tools are capable of integrating with AI or have AI capabilities. 
  • Mobilise teams – Teams can be brought out of silos and start working together on exchanging information to see the benefits and uses of current first-party data.
  • Discover new sources – Pinpoint gaps in your data and analysis processes and systems and prioritise the gaps you need to fill. Decide on how you can acquire this new data. 
  • Unify real-time data – Unify your data for a holistic view of each customer with a platform that can help you reach these customers as and when you need to. Check for real-time ability and make sure that data is actionable at any given moment. 
  • Connect and engage – Use your data to create effective campaigns. Connect and engage with customers, test and experiment for continued optimisation and enhancement of your first-party data and its effectiveness. 

This article is written by Shahid Nizami, VP, Sales, APAC at Braze

The insight is published as part of MARKETECH APAC’s thought leadership series under What’s NEXT 2023-2024. What’s NEXT 2023-2024 is a multi-platform industry initiative which features marketing and industry leaders in APAC sharing their marketing insights and predictions for the upcoming year.

Manila, Philippines – Telco giant in the Philippines Globe has announced in a press release that it is looking to scout new businesses to build additional streams of revenue.

Even amid successful vaccination programs around the world, nations continue to grapple with the pandemic, and the Philippines, the home of Globe, is currently seeing a new surge in positive cases. 

Globe President and CEO Ernest L. Cu said in a virtual interview in the APOS media conference, that it is important for the telco to explore other sources of income especially in light of the current situation.

“We are very fortunate that we continue to see revenue growth and are able to sustain growth over the past 10 years. But we also know that it’s going to be difficult to keep it up in the future,” said Cu.

The Coronavirus crisis has affected both global and local telecommunication revenues due to lack of international travel and lower handset upgrades caused by the closure of retail stores, challenges in the corporate industry, and SME markets, as well as spending pressures among the prepaid segment. 

Cu cited Globe’s recent success story with its e-wallet GCash, successfully growing to become the largest e-wallet in the Philippines. According to Globe, it has grown its client base to over 33 million last year or about 65% higher compared to the 20 million users in 2019 due to a shift in consumer behavior amid strict mobility and quarantine restrictions. GCash is one of the portfolio companies under 917Ventures – the telco’s fully-owned subsidiary, which deems to be one of the largest corporate venture builders in the country.

Singapore – Support for employees working remotely has been rated as the top strategy for SMEs across APAC in regards to their growth and success, new statistics from technology company Cisco shows.

According to the research, 41% of small and medium enterprises (SMEs) in Asia Pacific (APAC) rated it as important as online sales platforms for success and growth. With the shift to a hybrid work environment here to stay, SMEs in the region are expected to continue to invest in technology solutions that support this trend. 

As a result of the business disruptions caused by the pandemic in the past year, using technology to reduce cost is the top business goal for one in five (18%) SMEs across APAC in the next 12 months. This is especially prevalent in mature APAC markets such as Australia, Singapore, Japan, and South Korea, where more than one-quarter (26%) of those surveyed selected it as their top goal compared to 17% in emerging markets India, China, Indonesia, and Thailand. 

Finding alternative channels to sell and deliver products is a challenge that half (50%) of SMEs in APAC are currently facing, followed by improving employee productivity (44%) and boosting revenue (40%). Such conflicts are manifested by SMEs who are seemed overwhelmed by the global pandemic.

Furthermore, improving employee productivity (44%) is the second-largest business challenge that SMEs in APAC are facing. In mature APAC markets, employee engagement (42%) is the top priority for digitization efforts across SMEs.

For Bidhan Roy, managing director and head of commercial and small business for Cisco Asia Pacific, Japan, and Greater China, the study reveals that the pattern of SME revamps in their remote work support has not only been evident in APAC, but also globally. 

“In the current climate, where online is a major consumption channel and dispersed workforces are the norm, our research also finds security and privacy among the chief considerations for SMEs when selecting technology solutions. It is crucial for SMEs, who may have limited resources, to work with technology partners that can help them identify secure, reliable, and value-for-money technology solutions that best fit their needs, as well as provide ongoing, one-stop, and customized support throughout the lifetime of the products and their digital transformation journey,” Roy said.

The findings are based on a survey by Analysys Mason of senior business and IT leaders at 1,600 SMEs with 50 to 150 employees, based in eight markets across APAC.