Singapore – One of the boons of the digital age is the wealth of data we’re able to obtain in our hands. In the marketing world, data is the air by which campaigns breathe, but now that insights collection is not as difficult as it was before, the constant matter that baffles us is – how do we actually make sense of all this information?
This is the focus of MARKETECH APAC’s upcoming industry discussion – ‘Consumer Insights Power-Up 2022’. In partnership with Vase.ai, the webinar aims to help marketers and brands in Southeast Asia effectively translate their marketing intel into smart campaign actions and strategies.
Together with some of the brilliant leaders in marketing in the region, we will be delving into a discussion that puts the doubt and uncertainty we’ve been harbouring to the fore when it comes to our consumer insights business in the aim to provide appropriate solutions. Get answers to questions like how do you mobilise marketing insights? How do we turn them into agile marketing? How do we build a brand insights structure that would weather unforeseen crises?
To be held virtually on 27 July 2022 at 2 pm SGT, the marketing experts that will be joining us are Jia Nina, the country marketing head of BigPay for Malaysia; Neeraj Gulati, partner at Entropia; Elya Eusoff, GM of MSL Malaysia; and Tanushri Rastogi, the marketing Lead of Popeyes for APAC. Each of them will be sharing their insights into every crucial part of insights mining in marketing such as transforming the data at hand into actionable insights and developing an information structure that would help weather any crisis, may it be brand-related or economic.
“Data is overflowing, but how do we extract the most vital insights and make sense of it all? Having a gold mine of data is one thing, but knowing how to use it to the best of our marketing campaigns is an entirely new challenge. Let this industry gathering of leaders from SEA help you jump into a clear path,” said Shaina Teope, regional editor of MARKETECH APAC.
Meanwhile, Julie Ng, Vase.ai’s CEO and co-founder, commented, “It goes without saying that the pandemic has underscored one thing: marketers need to be nimble, confident, AND effective enough in responding to ever-changing consumer expectations – even if it means letting go of your previous plans to pivot. What better way to do this than to ask consumers directly what they want whenever you want?”
Ng adds, “I’m excited to share how you can harness the power of on-demand consumer insights to drive your marketing efforts for the second half of the year.”
This month of March, we had a lot of great developments in marketing, tech, and commerce in the region that made it to the headlines.
A social commerce startup co-founded by a fixture in the business sector in the Philippines has recently secured funding to move to q-commerce. Meanwhile, in Malaysia, a startup that is an AI-powered self-service platform for marketing insights has also bagged considerable funding.
In the area of communications, one of the leading PR agencies in the region has just named a new creative chief that would take the charge of the Taiwan, Thailand, and Hong Kong markets. Meanwhile, an AI and data company in Asia has just named the leader that would helm its operations in the Philippines.
To kick off our Top Stories for the month, we have Vase Technologies or Vase.ai in Malaysia announcing their seven-figure Ringgit investment from a funding round spearheaded by Indelible Ventures. The newly-secured capital will be used to jumpstart their 2022 expansion.
In an interview with MARKETECH APAC, Julie Ng, CEO and co-founder of Vase.ai, shared her insights on which area of marketing it’s crucial for brands to have good market research, saying that there are two particular areas.
“We usually advise to look into [these] two areas first. Number one, look into their brand. We have smaller companies come to us and say – I don’t really have a brand. That’s not true. Every company has a brand. If you are a smaller brand, you have to build it into a bigger brand. First thing you have to do is to know where your brand currently is. What’s its status and how many people are aware of the brand,” Ng said.
On the second thing, advertisements.
“Second [thing], we usually let the client choose, they should either look into their advertisement, and to research whether their advertisement is working because [it] is basically the way for us to get into new customers,” Ng adds.
In an interview with Calma, he shared that the company aims to focus on the financial services industry which includes banks, crypto, and even non-banking financial institutions.
“We looked at the typical customer journey, and identified the friction points, and [also] identified the points there might be security breaches, and then we built our solutions to address those points,” said Calma.
Calma shared that as a fundamental step, they have trained their AI to recognize the slew of Philippines IDs used when consumers apply for banking services.
He also shared his insights on the growing space of cryptocurrency in the market, which he said is able to have mass adoption through two things: utility and security.
“Utility means that normal people will have an actual use of that cryptocurrency, and we’ve seen that in play-to-earn…crypto needs to be secure, the channels that offer you access to crypto need to be secure for it to have mass adoption,” said Calma.
Landing on Top 2 is the appointment of John Koay, formerly of Ogilvy, as the new regional executive creative director (ECD) in Edelman for Hong Kong, Taiwan, and Thailand.
MARKETECH APAC conversed with Koay who admits his confidence in assuming the new leadership role.
“When it comes to this responsibility of leading the creative charge of three cities, it really doesn’t feel unfamiliar to me. Although these countries speak different languages, it is important to know that there is a universal language of creativity,” he said in the interview.
As a piece of advice, Koay also shared that brands must continue to look at themselves – are they only selling ‘stuff’ or being more responsible in terms of how consumers consume their messages.
“With the rise of metaverse and NFTs, people started interacting differently. They are meeting up in metaverse, and that is the new kind of thing we are part of. Changing times of the world [need] new ways of communicating. Technology opened up more avenues given the restrictions we had,” said Koay.
Koay also believes that above all, brands must simply strive to stay relevant
“Even as a brand or agency, you need to understand what your audience is going through because you want to give them a reason to give you their attention,” he said.
The company is led by Brian Cu who is ex-Grab country head.
In an interview with MARKETECH APAC, Cu shared about the startup’s two different business models that aim to serve two different consumer groups: one that looks for value and the other convenience.
“It’s all built on the foundations of a single supply chain in a single logistics [and] warehousing infrastructure. The reason why we decided to present the two different business models on top of that foundation is because you have certain individuals in the market that look for convenience, and an agent model will not deliver that convenience. At the same time, we also have a group of users that are looking for value, and they’re okay to forego that convenience. But they will purchase in larger amounts if the price-quality ratio is correct,” Cu explained.
He also added that the agent-based model allows them to offer products at lower prices in a sustainable way.
“We believe in a community agent model [which] allows us to do next-day delivery for products that have lower-than-supermarket prices in a sustainable way,” Cu added.
When asked about what lies ahead for the future of q-commerce, he said, “I do think quick commerce is here to stay as a general trend. As long as you can keep pricing and things in quality at the very fresh and acceptable standards, [as well as] speed that just adds value to the whole experience,” he stated.
Kuala Lumpur, Malaysia – Vase Technologies or Vase.ai, a Malaysian consumer research technology company founded in 2015 to answer the lack of flexibility in traditional market research firms, has announced a seven-figure ringgit investment to jump-start their 2022 expansion. The new round of funding was spearheaded by Indelible Ventures, along with their existing investors.
Vase.ai is an AI-powered self-service platform that provides companies with fast and reliable insights into consumers, markets, brands, products, and more to reinforce their marketing and product decisions.
Julie Ng, CEO and co-founder of Vase.ai, said, “Our platform helps companies make better and smarter decisions when it comes to marketing and product decisions. The investment and support from a partner like Indelible Ventures will help us significantly as we enter a new phase of growth. We look forward to a long partnership with them as we continue our mission to make consumer and market insights more accessible to the millions of brands in ASEAN.”
As a technology startup, Vase.ai utilises its proficiency in AI to produce swift, high-quality market research at an affordable price. Vase.ai’s ability to bring all digital data points and insights that a company requires to make informed decisions provides their clients with real-time analysis that is not usually available to most brands. The tech startup has worked with leading brands in ASEAN and run over 600 projects for clients, including high-value brands namely Digi, Carsome, IPG Mediabrands, Systema, TNB, and RinggitPlus.
The investment from Indelible Ventures will be allocated towards geographical expansion and enhancing the AI technology behind the Vase.ai platform.
Meanwhile, Kevin Brockland, managing partner of Indelible Ventures, comments on their investment in Vase.ai, saying that Vase.ai provides a high value-add solution in an exciting space that taps into the fact that consumer insights and habits are changing faster than ever before.
“They have the technology, know-how and a great track record in the region, so we know our investment will further accelerate their, already impressive, regional growth. We’re excited to be working with a strong founding team and look forward to seeing them grow the business even further,” Brockland said.
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