Survey highlights need to boost consumer insight, integrated activity planning, innovation, digital marketing and analytics to drive digital transformationResearch conducted in collaboration with national advertiser associations; respondents were regional and local marketers from brands that spend in excess of US$54b per annum globallyFull results to be released at Global Marketer Week- #GMWKL- in Kuala Lumpur on March 17th
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Marketers in the region recognize the need to improve in certain areas if they are to optimize their digital transformation strategies. Key areas of focus include their ability to generate consumer insights, integrated activity planning, innovation, digital marketing and marketing analytics.
Respondents broadly felt that they were on top of areas such as design, brand positioning and shopper/point of sale marketing but, coincidently, these are areas less affected by the move to digital.
The main challenges where marketers said they need greater assistance in the transformation process from their agency partners were media, creative and digital. Getting these three areas right is essential in terms of understanding behavior on fast-changing consumer platforms and creating content and experiences that work on digital screens.
The findings are based on a survey of more than 100 marketers representing 65 companies, which spend in excess of US$54 billion globally. It highlights the challenges identified by brands to win in a region with a population of 633m people, double that of the US and 100m more than that of the European Union. ASEAN is the second-fastest growing economy in Asia after China and has expanded 300% since 2001 .
The results have been released by the WFA ahead of Global Marketer Week (#GMWKL), which is being held in Kuala Lumpur, Malaysia, between March 15th and 18th and will be presented as part of an ASEAN Accelerator panel session during the Global Marketer Conference.
The need to improve capabilities in agencies was also identified by survey respondents, with PR performing worst, followed by creative and digital. Media and marketing research partners performed best with 54% of survey respondents describing the latter as good to excellent.
The main challenges with agencies included a rapid turnover in staff with 61% of respondents agreeing or strongly agreeing with the statement that "our agencies cannot hold on to their best people".
Conversely, 63% also agreed or strongly agreed that "there are plenty of very exciting new agency start-ups emerging;" that same churn seems to be creating new potential agency partners often in emerging areas, such as social and content where traditional agencies have not been as quick to adapt.
Other topline findings include:
"ASEAN is a fast-moving and fast-changing region with multiple markets and multiple ethnicities. Managing digital transformation in such a complex part of the world challenges even the very best marketers. The winners will be those that effectively deliver innovation, achieve data understanding and maintain brand relevance with diverse target groups while accessing regionally relevant experiences, insights and case studies," said Ranji David, Marketing Director, Asia at the WFA.
For more information, contact Ranji.