Every company wants to have an impact, whether it be on its financial condition, customer loyalty, market share, or positioning. This is especially important in a market with various products and services. Compete for customers’ attention across multiple communication channels.
60% of the global population lives in APAC, which has the fastest-growing digital market. It is not surprising that by 2025, the region’s ad income will account for up to 67%.
Brands worldwide, including those in the APAC region, have been compelled to change their marketing plans. As a result of the global pandemic, responding to the current priorities due to the ongoing transformation that we have experienced.
So how can businesses effectively establish their brands in Asia-Pacific? These brand marketing trends result from client interviews and research into the APAC region.
APAC Marketing Trends
Brand safety will continue to be a priority.
In 2020, we witnessed many advertisers standing against platforms that could not control the spread of false information and hate speech.
Additionally, the pandemic emphasizes the importance of brand safety. Many advertising networks have restricted the use of terms like COVID-19 or COVID and the promotion of unauthorized content without a legitimate source.
To protect their brand’s reputation and adhere to their brand values, we anticipate that more brands will employ new solutions in 2023.
Consumers in APAC Will Prefer Local Brands to International
According to a study by Marketing Interactive, consumers in APAC have greater trust in local brands than in international markets. Despite the popularity and success of western brands in Asia, about 46% of APAC customers said they would rather buy a local brand.
However, 40% of buyers in APAC still think that multinational brands have the power to improve the world. And they expect that belief to grow over the next few years. More than two-thirds (67%) of customers think it is possible by promoting enthusiasm, optimism, and brand recognition.
72% of APAC customers agree that creativity is essential for brands to succeed, which is a crucial aspect. Additionally, they admitted to favoring businesses that speak to everyone above those that only speak for themselves.
E-commerce will continue to rise exponentially.
Although brands already relied on e-commerce, from 2020, the quarantine lifestyle brought a surge in online buyers. Data from Criteo shows that online traffic and sales in Southeast Asia had record-breaking increases in 2020.
The largest increases in indexed sales year were in Malaysia and Thailand, with 600% and 305%, respectively, while Singapore had a 248% gain. This transition results in repeat online and emerging digital buyers being forced out of their “in-store comfort zone” by necessity.
These new digital customers represent a huge opportunity for brands to grow their current digital channel audiences. A primary area of concentration will be utilizing marketing techniques, such as social retargeting ads and retail media advertising, to engage the relevant customers and generate sales.
Putting Customer Experience First
Customer Experience was rated as the most promising prospect for 2022 in the APAC region. Many Asia Pacific businesses are stepping up their efforts to concentrate on the customer experience and differentiate themselves from their rivals.
But the Asia Pacific region is still far behind when comparing the CX in important nations like Australia and New Zealand. Businesses in nations like Australia succeed at providing superior products, services, and customer journeys across various touch points.
When it comes to China, they take a different approach. Businesses are attempting to stand out by improving customer experience and design. Organizations in the APAC region prioritize the customer journey. They want to improve their products and services to satisfy and attract buyers.
As a result, consumers in the APAC regions will find it easier to reach them for the services they demand.
To take advantage of these trends as we approach a new beginning in 2023, it will be important to maintain flexible plans and be open to making last-minute adjustments. Brands in APAC region were able to show incredible resiliency. We are certain they will be able to maintain their strength and forge new routes to success in the coming year.
Conclusion
To take advantage of these trends as we approach a new beginning in 2023, it will be important to maintain flexible plans and be open to making last-minute adjustments. Brands in APAC region were able to show incredible resiliency. We are certain they will be able to maintain their strength and forge new routes to success in the coming year.