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In today’s digital age, the world of marketing is constantly evolving. As technology becomes increasingly sophisticated, businesses embrace new tools and strategies to stay ahead. One such tool is artificial intelligence (AI), which has revolutionised various industries, including digital marketing. By harnessing the power of AI in your marketing efforts, you can unlock a plethora of opportunities and take your business to new heights.

Understanding the Concept of Digital Marketing AI

Understanding the Concept of Digital Marketing AI

Before diving into the benefits and challenges of implementing AI in your digital marketing strategy, it is essential to grasp the basics of artificial intelligence in marketing. AI refers to the capability of machines to imitate human intelligence and perform tasks that traditionally require human intelligence, such as problem-solving, decision-making, and language processing. In the context of digital marketing, AI algorithms analyse data from various sources, identify patterns, and make predictions to optimise marketing campaigns and improve customer experiences.

The Basics of Artificial Intelligence in Marketing

Artificial intelligence, at its core, relies on machine learning algorithms. These algorithms enable systems to learn from historical data, adapt to changing circumstances, and make intelligent decisions. In marketing, AI algorithms analyse vast amounts of data, such as customer demographics, purchase habits, and online behaviour, to identify trends and patterns humans find challenging to detect. This data-driven approach allows marketers to segment their target audiences more effectively and personalise their marketing efforts. 

The algorithms used in AI systems are designed to process and analyse data in ways that humans cannot. They can identify hidden correlations and patterns that might not be apparent to the human eye. This ability to uncover valuable insights from vast amounts of data is a game-changer for marketers. Imagine a scenario where a company wants to launch a new product and needs to identify the most suitable target audience. With traditional marketing methods, this would involve conducting surveys, analysing market research reports, and relying on intuition. 

However, with AI, marketers can leverage machine learning algorithms to analyse vast amounts of data from various sources, including social media, online forums, and customer databases. By doing so, they can identify patterns and preferences that would have otherwise gone unnoticed. AI algorithms can adapt to changing circumstances and make real-time adjustments to marketing campaigns. For example, suppose a particular ad is not performing well with a specific audience segment. In that case, AI can quickly identify this and optimise the campaign by adjusting the targeting parameters or changing the creative elements. This level of agility and responsiveness is a significant advantage of AI in marketing.

The Role of AI in Digital Marketing

The role of AI in digital marketing is vast and far-reaching. It can automate repetitive tasks such as data analysis, social media scheduling, and email marketing. AI-powered chatbots streamline customer service by providing instant responses to queries and offering personalised recommendations.  Additionally, AI can optimise ad targeting by identifying the most relevant audiences and optimising bids in real-time based on user behaviour. AI can even predict customer preferences to deliver personalised content, increasing engagement and conversions.

One area where AI has made a significant impact is in customer service. With the help of AI-powered chatbots, businesses can provide round-the-clock support to their customers. These chatbots can handle various queries, from basic information requests to more complex troubleshooting. By leveraging natural language processing capabilities, AI chatbots can understand and respond to customer queries conversationally, mimicking human interactions. This improves customer satisfaction and frees human resources to focus on more complex tasks. Another way AI enhances digital marketing is its ability to analyse and interpret vast data. 

In today’s digital landscape, businesses can access overwhelming customer data. AI algorithms can use this data to identify valuable insights for marketing strategies. For example, AI can analyse customer demographics, purchase history, and online behaviour to create detailed customer profiles. This information can personalise marketing messages and deliver targeted content to specific customer segments.  Moreover, AI can play a crucial role in optimising advertising campaigns. By analysing user behaviour and preferences, AI algorithms can identify the most relevant audiences for a particular product or service. This allows marketers to focus their advertising efforts on those most likely to convert, improving the overall return on investment.

Additionally, AI can continuously monitor and adjust ad campaigns in real-time, optimising bids and placements to maximise performance.  AI has revolutionised the field of digital marketing. Its ability to analyse vast amounts of data, automate repetitive tasks, and deliver personalised experiences has transformed how businesses engage with customers. As technology advances, AI will undoubtedly play an even more significant role in shaping the future of digital marketing.

The Benefits of Integrating AI into Your Digital Marketing Strategy

The Benefits of Integrating AI into Your Digital Marketing Strategy

Now that you have a solid understanding of the concept and role of AI in marketing, let’s explore the numerous benefits it brings to your digital marketing strategy. But before we dive into the benefits, let’s take a moment to appreciate the incredible technological advancements that have led us to this point. The digital landscape has evolved rapidly over the years, and with it, so have customers’ expectations. In today’s hyper-connected world, customers expect personalised experiences that cater to their unique needs and preferences. This is where AI comes in.

Enhancing Customer Experience with AI

Enhancing Customer Experience with AI

In order to meet these ever-increasing expectations, businesses need to leverage AI to enhance the customer experience. By analysing vast customer data, AI can deliver tailored content and recommendations that resonate with individual customers. This level of personalisation goes beyond simply addressing customers by their first name in an emailAI can create personalised product recommendations based on a customer’s browsing and purchase history, send targeted emails that align with their interests, and even provide real-time customer support through chatbots that can accurately understand and respond to customer queries. Imagine a customer visiting an online clothing store and browsing through various items. 

With AI, the store can analyse the customer’s preferences and show them similar items they are likely to be interested in. This saves the customer time and increases the chances of a successful conversion. Furthermore, AI-powered chatbots can provide:

  • Instant customer support.
  • Answering their questions and resolving their issues promptly.
  • Leading to a positive customer experience.

These personalised interactions improve the customer experience and drive customer loyalty.  Customers who feel understood and valued are more likely to become repeat buyers and advocates for your brand. This, in turn, leads to increased conversions and revenue.

AI and Data-Driven Marketing Decisions

Data is the lifeblood of digital marketing, and AI helps turn this raw information into actionable insights.  With AI algorithms analysing vast amounts of data, marketers can make data-driven decisions optimising their marketing campaigns. But what does this mean in practice? Let’s take a closer look. Imagine you are running a digital advertising campaign for a new line of fitness products.  By leveraging AI, you can analyse customer data to identify patterns and trends in their behaviour. This allows you to target the right audience with the right message at the right time.  For example, suppose the data shows that a particular segment of your audience is more likely to engage with video content.  In that case, you can allocate more resources towards creating compelling videos that resonate with that specific group.

Furthermore, AI can track and analyse marketing metrics in real-time, enabling marketers to make adjustments on-the-fly.  This level of agility is crucial in today’s fast-paced digital landscape. AI can help identify the issue and suggest alternative strategies if a marketing channel is not performing as expected. This allows marketers to maximise their return on investment and ensure their marketing efforts align with their business goals. It’s important to note that AI is not meant to replace human marketers.  Instead, it complements their skills and expertise by automating repetitive tasks and providing valuable insights that humans may need help uncover independently.  By integrating AI into your digital marketing strategy, you can leverage the power of technology to drive better results and stay ahead of the competition.

Overcoming Challenges in Implementing Digital Marketing AI

Overcoming Challenges in Implementing Digital Marketing AI

While the benefits of AI in digital marketing are undeniable, businesses also need to overcome challenges when implementing AI strategies. Address issues such as data privacy, integration complexities, and skill gaps. Develop a clear understanding of AI algorithms, foster collaboration between marketing and IT teams, and invest in employee training. 

Addressing Common Misconceptions About AI in Marketing

One common misconception about AI in marketing is that it will replace human marketers.  However, the reality is that AI is a tool that complements human capabilities rather than replacing them.  AI can automate mundane tasks, freeing marketers’ time to focus on creative strategies and building customer relationships.  It is important to educate stakeholders about the role of AI and showcase its ability to enhance marketing efforts rather than replace them.

Navigating the Ethical Considerations of AI Use

As AI becomes more prevalent in marketing, addressing the ethical considerations associated with its use is crucial.  AI algorithms rely on historical data to make predictions, and if the data is biased or incomplete, it can perpetuate inequalities and reinforce stereotypes. Businesses must ensure their AI systems are trained on diverse and representative data to avoid unintentional discrimination.  Furthermore, transparent communication with customers about using AI and data collection is vital to building trust and maintaining ethical standards.

Future Trends in Digital Marketing AI

Future Trends in Digital Marketing AI

The world of AI is dynamic, and with each passing day, new advancements bring forth exciting possibilities for digital marketers. Embracing these trends will enable marketers to stay ahead in leveraging AI’s evolving role in shaping the future of digital marketing.

The Rise of AI-Powered Chatbots in Marketing

Chatbots have become ubiquitous digitally, and AI further enhances their capabilities.  AI-powered chatbots can hold conversations that mimic human interactions, providing personalised responses and recommendations. These chatbots can handle various customer queries, easing the burden on customer service teams and providing round-the-clock support. As AI evolves, chatbots will be increasingly important in delivering exceptional customer experiences.

Predictive Analytics and AI: The Future of Marketing

One of the most exciting applications of AI in marketing is predictive analytics.  By analysing vast amounts of historical data, AI algorithms can accurately predict future trends and customer behaviour. This enables marketers to proactively identify opportunities, optimise marketing strategies, and anticipate customer needs. With predictive analytics, businesses can tailor their marketing efforts to stay ahead of the competition and drive growth.

Making the Most of Digital Marketing AI

As you embark on your AI-powered marketing journey, following best practices to reap the full benefits and ensure success is essential. These strategies enable more efficient and effective marketing campaigns, ensuring adaptability to the evolving digital landscape.

Best Practices for Integrating AI into Your Marketing Strategy

When integrating AI into your marketing strategy, clearly define your objectives and identify the areas of your marketing efforts that could benefit most from AI automation. Invest in robust AI-powered analytics tools that can provide real-time insights and actionable recommendations. Also, foster a continuous learning and experimentation culture as AI algorithms evolve alongside your business. Regularly reassess your AI strategies and optimise them based on the latest industry trends and customer feedback.

Measuring the Success of Your AI Marketing Initiatives

As with any marketing initiative, measuring the success of your AI-powered campaigns is crucial. Set clear KPIs (Key Performance Indicators) that align with your objectives and monitor them regularly. Track metrics such as customer engagement, conversion rates, and revenue generated to gauge the impact of AI on your marketing efforts. Use A/B testing to experiment with different AI strategies and continuously refine your approach. You can fine-tune your AI marketing initiatives to achieve optimal results by measuring and iterating.

The integration of AI into digital marketing has the potential to revolutionise the way businesses connect with their customers. By understanding the basics of AI in marketing, harnessing its benefits, and navigating the challenges, you can unlock the full potential of digital marketing AI. With AI-powered technologies shaping the future of marketing, it’s time to embrace and leverage these tools to stay competitive in the ever-evolving digital landscape.

Frequently Asked Questions About AI in Digital Marketing

How Is AI Used in Digital Marketing?

Artificial Intelligence (AI) in digital marketing is used to analyse vast amounts of data, derive actionable insights, personalise user experiences, automate repetitive tasks, and enhance customer interactions. Its applications include chatbots, predictive analytics, content recommendations, and ad targeting.

What Is an Example of Artificial Intelligence in Digital Marketing?

One typical example is chatbots on websites. These AI-powered bots can answer frequently asked questions, guide users, and even assist in purchasing, providing real-time support without human intervention.

Is Artificial Intelligence Part of Digital Marketing?

Yes, Artificial Intelligence is becoming an integral part of digital marketing. It offers sophisticated tools to improve targeting, optimise campaigns in real-time, predict user behaviours, and enhance the overall customer experience.

What Is the Best AI Tool For Digital Marketing?

The “best” AI tool depends on specific needs, but popular choices include:

  • Chatbots: Tools like Drift or Intercom for customer service and engagement.
  • Predictive Analytics: Platforms like Albert or Kustomer for understanding and predicting user behaviours.

Personalisation: Dynamic Yield or Adobe Target for delivering personalised content and product recommendations.

How Is AI Changing the Face of Digital Marketing?

AI is revolutionising digital marketing in several ways:

  1. Data Analysis: AI can quickly analyse vast amounts of data, uncovering trends and insights humans might miss.
  2. Personalisation: AI allows the creation of personalised content or product recommendations based on individual user behaviour.
  3. Automation: Many routine tasks, from email campaigns to customer interactions, can be automated using AI, allowing for increased efficiency.
  4. Improved User Experience: With tools like chatbots, AI can enhance the user experience by offering instant assistance.
  5. Predictive Analysis: AI can predict which leads will most likely convert, helping marketers optimise their campaigns in real-time.

eCommerce sales are on the rise, especially in Southeast Asia. The exponential increase in revenue from eCommerce is driving more businesses to adopt an eCommerce platform or sign onto a third-party marketplace. According to Forbes Advisor, the global eCommerce market is expected to total $6.3 trillion in 2023. Statista reports that eCommerce revenues are expected to grow 14.59% annually, with a projected market volume of US$249.70 billion by 2027. Similarly, Accenture reports that digital commerce will dominate the APAC markets. The use of eCommerce will only increase from here, and if your brand isn’t on the bandwagon yet, maybe it’s time to climb on board.

Growth of APAC Digital Commerce

APAC Digital Commerce - Accenture Insights Infographic
Source: Accenture, Insights to Digital Commerce, An APAC Perspective

eMarketer reported in August 2023 that eCommerce sales can surpass US$6 trillion by 2025 despite the slight slowing of growth in the post-COVID-19 pandemic period. The digital commerce landscape in the APAC region is experiencing unprecedented growth, driven by various vital factors. 

One of the most significant drivers is the demographic advantage of having more than 50% of the Asian population between 18 and 35. Technological progress has made it easier for businesses to establish online presence and reach customers across borders. From secure payment gateways to user-friendly interfaces, these technological developments have created a seamless shopping experience for consumers, further fueling the growth of digital commerce.

While multiple drivers are contributing to the growth of digital commerce in APAC, one cannot overlook the significant impact that a young and tech-savvy population has on shaping this thriving industry. As more businesses recognise these opportunities and adapt their strategies accordingly, we expect exponential growth in the region’s digital commerce sector. But where should you start? With so many options available, it’s essential to put the right foot forward and not waste any more time, so let’s get some basics out of the way first:

 

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What is an eCommerce Platform vs. a Third Party Marketplace?

An eCommerce platform represents a sophisticated software application for online brands. It integrates various components essential for running an online business. These components encompass managing the brand’s official website operations, executing targeted marketing campaigns, and facilitating sales processes. By combining all these facets in a single location, eCommerce platforms provide brands with a unified and efficient control centre, simplifying running an online business. Brands can merge eCommerce platforms with their existing websites and other software applications, ensuring a consistent and immersive experience for their customers. 

For instance, consider an online cosmetics brand named “GlamHaven.” By utilising eCommerce platforms like Shopify or BigCommerce, GlamHaven can offer customers its array of beauty products through a seamless and brand-aligned interface on its website. Meanwhile, third-party marketplaces are online platforms that provide a marketplace for sellers to list their products or services. Instead of setting up an independent online storefront, sellers can leverage these third-party marketplaces’ infrastructure and customer base. 

Examples of such marketplaces include Amazon, eBay, and Etsy. Sellers can list their items on these platforms, reaching a wider audience and utilising the marketplace’s existing traffic and user base. However, the trade-off is that sellers might have less control over the presentation and branding of their products as they operate within the framework of the third-party marketplace’s design and guidelines.

What Are The Differences Between an eCommerce Platform & Third Party Marketplace?

Think of it like this: using an eCommerce platform is like having your brick-and-mortar storefront with your business’s branding and messaging – you’ve bought or rented some shelving from a provider to put into your store. On the other hand, a third-party marketplace is more like renting space in a department store to showcase your products or services – you don’t have to do all the work of putting the shelves in place, nor do you get to stick your branding all over the storefront. However, you still get to stick out your corner of the store.

What Are The Benefits of Each Option?

Each path offers various advantages, catering to diverse business needs and objectives. Understanding these benefits is crucial for making informed decisions that align with a company’s unique goals and resources. In this section, we delve into the advantages of both eCommerce platforms and third-party marketplaces, shedding light on the opportunities they provide to businesses aiming to thrive digitally. By comprehending the strengths inherent to each option, businesses can make strategic choices that propel their online ventures toward success.

eCommerce Platforms

An eCommerce platform comes in three key packages: OpenSource, SaaS (Software as a Service), and headless commerce. Each of these comes with its requirements and capabilities. For example, Open Source eCommerce platforms, like PrestaShop or OpenCart, allow you to customise practically anything by giving you full access to the software’s internal code.

This can be incredibly useful, letting you tailor the look and feel of the platform to your – and your customer’s – preferences. However, it can be time-consuming and more work without the required skill set. SaaS and headless eCommerce solutions are more straightforward options. These eCommerce platforms offer a more plug-and-play answer to the eCommerce question. 

A SaaS or headless eCommerce platform is an existing service that you use to power your online storefront, like Shopify or BigCommerce website. These are ideal for people needing more time or skills to build their online store in an open-source platform. However, depending on your subscription, they may be less flexible regarding customisation.

Best eCommerce Platforms

When selecting the optimal eCommerce platform for your business, several standout options offer a range of features to meet your specific needs. These platforms facilitate seamless online transactions and provide tools to manage your digital storefront, enhance customer experiences, and drive growth. Here are some of the leading eCommerce platforms:

  • Squarespace:

    Renowned for its versatility, Squarespace combines elegant website design with eCommerce functionality. It’s ideal for businesses seeking a polished online presence and robust eCommerce capabilities. The platform’s user-friendly interface and templates make creating a visually appealing online store effortless.

  • WooCommerce:

    If you’re already operating a WordPress website, WooCommerce integrates eCommerce functionality into your existing setup. This open-source plugin offers extensive customisation options, an excellent choice for businesses that want to retain control over every aspect of their online store.

  • Shopify:

    Known for its user-friendly interface and comprehensive feature set, Shopify is a powerhouse. It caters to businesses of all sizes, from startups to enterprise-level operations. With a vast library of themes and plugins, Shopify enables businesses to create stunning online stores and provides tools to manage products, inventory, and sales effectively.

  • Wix:

    Combining website building and eCommerce capabilities, Wix offers an intuitive drag-and-drop editor that simplifies creating an online store. It’s an excellent choice for small to mid-sized businesses looking to establish a professional online presence without diving into complex technical details.

  • BigCommerce:

    Designed to scale with your business, BigCommerce offers a feature-rich platform for both beginners and established enterprises. It provides robust customisation, SEO optimisation, and multi-channel selling tools, making it suitable for businesses to expand their reach across various online avenues.

  • Adobe Commerce:

    Formerly known as Magento, Adobe Commerce targets businesses with more intricate needs. It’s a highly customisable platform that caters to larger enterprises requiring advanced eCommerce functionalities and personalised customer experiences.

Third-Party Marketplaces Vs. First Party Marketplace

Third-Party Marketplace

Third-party marketplaces come in all shapes and sizes and are often busy websites with high traffic. This makes it an ideal place for many smaller businesses to get their products out and increase their sales. The advantage of places like Shopee, Lazada, eBay, or Amazon is that they attract a large number of would-be customers, and with the right approach, even the smallest of sellers can reach their target audiences. One of the great things about marketplaces is that you have the potential to reach customers who would otherwise never look for your products or services. 

That voluminous traffic, however, is also a double-edged sword. While it can certainly reach a vast number of customers, you also run the risk of not attracting the right ones. Another downside of third-party marketplaces is that you must compete for space and attention with many other sellers, even though they may be someone else’s direct competitors. You risk losing your brand amid the marketplace host’s branding and being unable to stand out among all the other vendors.

First-Party Marketplace

A first-party or proprietary marketplace is an online platform operated by a retailer or brand that exclusively sells its products. In this scenario, the retailer acts as both the seller and the platform owner. Amazon’s first-party retail operation is a prime example; Amazon Retail purchases products directly from manufacturers and sells them on its platform under the Amazon brand. 

Businesses operating in a first-party marketplace have more control over their brand’s presentation, product quality and pricing. First-party marketplace allows retailers to directly engage with consumers while controlling various aspects of the online shopping experience. It will enable them to leverage their brand strength and customer relationships to drive sales and build loyalty.

Should You Go for an eCommerce Platform or a Third-Party Marketplace?

At the end of the day, it comes down to three key things:

  1. Your Business Needs
    Investing in an eCommerce platform better serves a more extensive brand with a massive catalogue. At the same time, a company with few products may prefer to start on a smaller scale in a marketplace or smaller platform. If you are a dedicated whole food company, you could tailor an eCommerce platform to your needs, while you may need to catch up in a third-party marketplace and miss out.

  1. Your Customers
    Do your customers like specific services you could offer with an eCommerce platform, or will they be just as comfortable in a marketplace? Are there particularities you’d like to provide your customers that you may be unable to do on a third-party platform? If your customers prefer to see your company’s branding, then it’s essential to give them what they prefer to maximise their experience.

  1. Your Budget
    It does come down to the money. Why not go for it if you have the funds to invest in an eCommerce platform? But if that’s not the case, then a third-party marketplace might just be where you start. Remember that if you set up an eCommerce platform, you may need to hire someone to set it up for you or train you to use the back end.

Image by Photo Mix from Pixabay - e-commerce platforms on multiple devices

Answering all these questions will help guide you to making the right choice. Your brand should start on a third-party marketplace before setting up an appropriate eCommerce platform solution. Alternatively, if your company chooses to integrate its eCommerce platform, research and select the platform that meets your requirements and suits your capabilities; you’ll also need to bring in a specialist to set it up for you if required.

If you’re considering starting an eCommerce business in Southeast Asia, now is the time to start. When it comes to web and app development, you can rely on 2Stallions. As a digital marketing agency in Singapore, we can help to develop an eCommerce website that can market your business online and boost your sales.  Talk to us today!

Originally published: 15 October 2020
Updated: 7 September 2023

Frequently Asked Questions About eCommerce Platform vs Third Party Marketplace.

What Is the Difference Between an eCommerce Platform and Marketplace

An eCommerce platform is a software solution that allows businesses to create and manage their online store. On the other hand, a marketplace is a platform where multiple sellers, such as Amazon or eBay, list their products for sale. While an eCommerce platform offers more control over branding and customer experience, a marketplace provides greater initial exposure but less control and usually charges fees or commissions.

What Is a Third Party eCommerce Platform?

A third-party eCommerce platform is a software-as-a-service (SaaS) offering that enables businesses to build, host, and manage an online store without needing to build it from scratch. These platforms are hosted on a third-party server and often come with pre-designed templates, payment gateways, and other features. Popular third-party eCommerce platforms include Shopify, WooCommerce, and Magento.

What Is the Difference Between an eCommerce Platform and Online Platforms?

“eCommerce” refers to buying and selling goods or services online. An eCommerce platform is a specialised type of software designed for these transactions. Online platforms, however, can be more varied and not limited to eCommerce. They could be social media platforms, content management systems, or any other software that facilitates interactions over the internet. All eCommerce platforms are online, but not all are designed for eCommerce.

 

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Digital marketing is a dynamic and transformative field that has reshaped the way businesses connect with their audience in today’s digital age. 

It encompasses a wide range of online strategies and tools designed to promote products or services through various digital channels and encourages a new era of customer engagement and brand promotion. 

This shift has allowed businesses to reach their target audiences with unprecedented precision, enabling personalised communication and fostering stronger customer relationships. 

Benefits of Digital Marketing

Digital marketing is a dynamic tool that empowers businesses to connect with their audience in more meaningful ways, ultimately driving growth and success in the digital age. 

In the following sections, we will delve into the specifics of these advantages, including improved targeting, better ROI, increased visibility, and better customer engagement.

Improved Targeting

Digital marketing provides precise audience targeting through methods like demographic, behavioural, and remarketing. 

Demographic targeting hones in on age, gender, and location, ensuring your message reaches the right audience. Behavioural targeting delves deeper, analysing online behaviour and interests to target potential converters. Remarketing re-engages users interested in your products. 

By strategically using these methods, you can optimise your digital marketing, connecting with your audience on a personal level and boosting your chances of success. 

Demographic Targeting

Demographic targeting lets businesses connect precisely with their ideal audience based on factors like age, gender, location, and income. 

For example, a cosmetics brand can focus on young urban females, tailoring ads accordingly. Conversely, a retirement planning consultancy targets middle-aged, higher-income individuals. Whether it’s a local restaurant or an e-commerce platform, this strategy fine-tunes marketing efforts for better results.

Behavioural Targeting

Behavioural targeting uses online behaviour data like search history, website visits, and social media activity to reach customers. Start by analysing user data to understand their preferences, then create personalised content. Timing matters; send messages when users are engaged. 

Continuously refine targeting and adapt campaigns for maximum effectiveness in engaging and converting your audience.

Remarketing

Remarketing, through tactics like retargeting ads and email marketing, helps businesses reconnect with previous brand interactions. Retargeting ads remind website visitors of the brand’s offerings, while email marketing nurtures leads with personalised messages and exclusive offers, encouraging repeat business. 

This strategy enhances conversion rates and is a crucial tool for effective marketing.

Lookalike Audiences

Lookalike audiences in digital marketing help businesses expand their reach by targeting new customers similar to their current ones. Identify key customer factors like demographics, interests, and behaviour. Platforms like Facebook and Google Ads allow you to create lookalike audiences based on this data. 

This enables you to effectively target individuals likely to engage with your brand, enhancing your outreach efforts and driving growth in the digital marketplace.

Geo-Targeting

Geo-targeting is a potent marketing strategy for precision targeting. Employ tactics like local SEO and targeted ads. Local SEO optimise your online presence with location-specific keywords and Google My Business details, enhancing visibility in local search results. Platforms like Facebook and Google Ads allow setting geographic parameters for ads, reaching the right audience. 

These tactics help businesses connect with local customers, boost visibility, and drive conversions. 

 Better ROI

Digital marketing offers a superior ROI compared to traditional methods by providing precise tracking metrics like cost per acquisition (CPA), conversion rates, and customer lifetime value (CLV). 

These insights enable businesses to optimise strategies and allocate resources efficiently for better campaign success.

Cost Per Acquisition (CPA)

Cost Per Acquisition (CPA) is pivotal in digital marketing, obtained by dividing your campaign’s total cost by conversions, revealing the cost per customer or lead. A reduced CPA signifies campaign efficiency. Various tactics, like paid search and display ads, influence CPA differently. 

Paid search, using refined keywords and ads, typically yields lower CPAs by targeting active searchers. Display ads demand precise audience targeting and captivating creatives for optimal CPAs. Continuously analyse and adapt your campaigns to lower CPA and enhance your digital marketing ROI.

Conversion Rates

Conversion rates are essential in digital marketing, measuring campaign effectiveness. Calculated by dividing desired actions by total interactions, they show success and areas for improvement.

A high click-through rate but a low conversion rate in a PPC ad suggests a need for better landing pages or ad copy. A strong email campaign conversion rate reveals successful tactics to replicate.

In the dynamic digital marketing landscape, conversion rates steer us toward better performance.

Customer Lifetime Value (CLV)

Customer Lifetime Value (CLV) is a vital metric to measure the lasting impact of your digital marketing. It calculates a customer’s expected revenue over their engagement with your brand, helping assess campaign effectiveness. 

To boost CLV and ROI, use tactics like targeted email marketing for customer retention and loyalty programs to incentivise lasting relationships. Prioritising CLV optimisation not only increases profitability but also nurtures a loyal customer base, ensuring sustained business success.

Return on Ad Spend (ROAS)

ROAS (Return on Ad Spend) is a critical metric for evaluating ad campaign success. It’s calculated by dividing ad-generated revenue by total ad costs, indicating the effectiveness of your marketing investments.

Various channels like paid search and social media require distinct strategies to optimise ROAS. In paid search, focus on high-converting keywords and refine ad content. For social media ads, target the appropriate audience, craft engaging content, and analyse demographics.

Continuously monitor and adjust strategies based on ROAS results to increase returns and maximise your advertising budget.

Attribution Modelling

Attribution modelling is essential for gauging digital marketing’s impact on conversions and revenue by crediting various customer touchpoints. Models like first-click and last-click attribution reveal consumer behaviour insights: first-click emphasises initial interactions, and last-click centres on the final touchpoint. 

Marketers can employ these models to optimise campaigns, allocate resources wisely, refine strategies, and boost their bottom line by improving customer experiences.

Increased Visibility

Digital marketing, using strategies like SEO, PPC advertising, and social media marketing, boosts your online brand visibility. 

SEO improves your website’s search engine ranking, making it easier for people to find you. PPC targets users actively searching for your products, while social media marketing engages your audience on platforms like Facebook, Instagram, and Twitter. 

These tactics increase your online visibility and connect you with potential customers.

Better Customer Engagement

Digital marketing helps you connect with customers effectively. Email provides personalised messages and promotions, social media fosters community engagement, and content marketing builds trust by sharing valuable information. Using these tactics strengthens customer relationships and keeps them coming back.

Key Components of Digital Marketing

Digital marketing comprises essential elements like SEO, enhancing search result visibility; SMM, engaging audiences on platforms like Facebook and Instagram; PPC advertising, paying for keyword-triggered ads; email marketing, sending targeted emails; and content marketing, crafting valuable content for customer engagement – all synergising for online business success.

Search Engine Optimisation (SEO)

SEO is the key to website ranking on Google. It has three main parts: on-page optimisation (choosing keywords and improving content), off-page optimisation (building website relationships), and technical SEO (cleaning up website code). 

To enhance SEO, create quality content, earn backlinks, and use tools like Google Analytics to monitor progress. SEO is your website’s best friend, making it stand out online.

Social Media Marketing

Social media marketing involves businesses using platforms like Facebook, Instagram, and Twitter to engage their audience by sharing interesting content, promoting products, and following best practices like regular posting, appealing visuals, and prompt responses. 

Success is measured by tracking metrics like likes, shares, and website clicks to fine-tune campaign strategies.

Facebook Marketing

Facebook marketing is crucial for engaging your online audience. A well-optimised Facebook page serves as your digital storefront, while targeted ads reaching specific demographics are essential. Measuring campaign success is pivotal for refining your strategy. In essence, a robust Facebook page, effective ads, and result tracking are vital for successful Facebook marketing.

Instagram Marketing

Instagram marketing is vital for businesses as it enables visually appealing connections with the target audience. 

Create engaging posts, use relevant hashtags for visibility, and interact with your audience through comments and messages. Monitor metrics like likes, comments, shares, and track link clicks and conversions to gauge success. 

LinkedIn Marketing

LinkedIn marketing is vital for businesses as it helps connect with customers effectively. 

To use it successfully, start by creating engaging posts and ads. Use relevant hashtags to increase visibility, but don’t overdo it. To gauge your campaign’s success, track key metrics like engagement, clicks, and conversions. 

LinkedIn can be a powerful tool when used right, enabling you to reach and engage with your target audience effectively.

TikTok Marketing

TikTok marketing is essential for businesses to effectively engage a wide audience. Craft compelling posts and ads, connect with your target audience, employ relevant hashtags, and keep videos short yet captivating. 

Gauge success through views, likes, shares, and comments to enhance brand visibility and connect with customers in an entertaining and impactful way.

Pay-Per-Click (PPC) Advertising

PPC advertising lets businesses promote online by paying for ads only when someone clicks them. Successful campaigns require choosing keywords, setting a budget, and creating compelling ad content. 

Regular monitoring and adjustments help measure success and improve ROI, making it an effective way to reach potential customers online.

Search Engine Marketing (SEM)

SEM is a digital marketing strategy that uses paid advertising to boost website traffic, unlike SEO, which relies on organic results. To succeed with SEM, choose relevant keywords, create engaging ad copy, and optimise your landing page. 

Monitor performance metrics like CTR, conversion rates, and ROI to fine-tune your campaigns and maximise traffic and customers to your site.

Display Advertising

Display advertising is a digital strategy using visual ads on websites and apps. This includes banners, videos, and interactive graphics. Your success will depend on targeting your audience and tracking performance through tools like click rates and conversions, enhancing your online presence.

Email Marketing

Email marketing is a potent tool for businesses to connect with customers. 

It involves sending targeted emails to people interested in a company’s offerings. To succeed, use attention-grabbing subject lines, clear CTAs, and segment your email list. Measure success by tracking open, click-through, and conversion rates. 

Ultimately, email marketing is about building relationships and engaging customers.

Lead Generation

In digital marketing, lead generation uses strategies like gated content (e-books, webinars), lead magnets (free trials, templates), and social media contests. Measuring success involves tracking conversion rates and new leads acquired. These methods help businesses attract and expand their customer base.

Content Marketing

Content marketing, a pivotal aspect of digital marketing, involves crafting and sharing diverse content, such as blogs, videos, and infographics, to engage and inform your audience. Quality content that aligns with your audience’s interests is paramount for success.

Video Marketing

Video marketing is essential in digital marketing for captivating viewers and boosting engagement. To create compelling content, understand your audience’s preferences and use different video types like explainers, demos, and testimonials.

Distribute on platforms like YouTube, social media, and email for wider reach, enhancing your online presence and audience connections.

Influencer Marketing

Influencer marketing leverages social media influencers’ reach to expand your brand’s visibility. Start by finding influencers whose values match your brand, propose a collaboration, and ensure their content aligns with your message. This builds authentic connections with potential customers, generating positive buzz for your products or services.

Marketing Analytics

Marketing analytics, like Google Analytics, acts as a dashboard for your digital marketing efforts, revealing what’s effective and where to improve. It tracks key metrics, like website visitors, conversions, and ROI, enabling data-driven decisions and improved results. In essence, it’s your digital marketing compass for success. 

Understanding Your Target Audience

In digital marketing, understanding your target audience is vital. Achieve this by crafting buyer personas, doing market research, and analysing customer data. 

This knowledge enables you to customise your marketing efforts, resulting in more effective campaigns and better business outcomes. 

Creating a Digital Marketing Strategy

To create a successful digital marketing strategy, start by setting clear goals. Know what you want to achieve, like increasing website traffic or sales. 

Next, identify Key Performance Indicators (KPIs) to track your progress, such as website clicks or social media engagement. Choose the right online platforms for your audience, like social media, email marketing, or paid advertising. 

Plan your content in advance with a content calendar to stay organised and consistent. 

Lastly, regularly measure your strategy’s success by analysing your KPIs and adjusting your approach as needed for better results. 

This step-by-step process can help anyone build a strong digital marketing strategy.

Tools and Technologies for Digital Marketing

In the world of digital marketing, some handy tools and technologies can make your life easier. 

First, marketing automation software helps you schedule and streamline your marketing campaigns, saving time and effort. Social media management tools let you handle your social media posts and engagement in one place, making it simple to stay active online. 

Lastly, analytics platforms provide valuable insights into your marketing efforts, helping you understand what’s working and what needs improvement. 

These tools are like a digital marketing toolkit that can help you reach your audience more effectively.

Trends in Digital Marketing

Digital marketing is ever-changing, with several significant trends to note. Video marketing is on the rise, as businesses increasingly use videos to engage their audience due to their compelling and easily digestible nature. 

Mobile optimisation has become paramount, as people now rely on their smartphones more than ever for online activities. Additionally, artificial intelligence (AI) and machine learning are making a profound impact in digital marketing by enabling companies to personalise their content and ads, tailoring them to individual users. 

These trends are reshaping the digital marketing landscape and are essential considerations for businesses striving to maintain competitiveness online.

Conclusion: Digital Marketing is A Modern Business Must-Have

Digital marketing is pivotal in the modern business landscape, facilitating effective audience reach through online channels. It elevates brand visibility, enhances customer engagement, and drives sales. In our digital-centric society, businesses adopting these strategies are poised for success in the competitive landscape.

Embracing and implementing digital marketing is imperative for any business striving to remain relevant and competitive today.

Learn more about the basics of digital marketing with us. 

We want to alert you to a concerning issue involving our company, 2Stallions. We’ve become aware that individuals are attempting to deceive others by impersonating 2Stallions for fraudulent purposes.

These scammers falsely claim to represent our company while engaging in activities like promoting crypto investments and offering job opportunities with false promises of easy money.

2Stallions is not involved in any deceitful practices. Our business is registered and operates with honesty and integrity. We have taken immediate action by reporting this matter to the authorities.

Should you encounter anyone posing as representatives of 2Stallions, offering crypto investment opportunities or enticing job offers through platforms like WhatsApp, Telegram, or others, please exercise caution.

If you receive any suspicious text messages, emails, or instant messages related to 2Stallions, please get in touch with us at +603 2935 9968 or HR@2stallions.com to report these incidents. Your cooperation is highly appreciated in maintaining a secure environment for everyone.

Thank you for your cooperation and remain vigilant!

From 2Stallions Management

The F&B (food and beverage) industry moves fast on a bad day. On a good day, it’s one of the fastest-evolving industries on the planet.

Digital marketing acceleration plays a dominant role in this industry, propelling it forward at lightning speed!

In this issue of the Marketing Expert Series, we are in for a tasty treat. Secret Recipe’s Evelyn Lee, the company’s Head of Marketing for Malaysia, joins us to talk about marketing strategies and tactics during and post-Pandemic.

In particular, she shares some deep insights into the impact of digital marketing acceleration and how she and her team have grown closer together to keep up with the ever-advancing pace of the industry they call home.


Hi, Evelyn, thank you for joining us in our Marketing Expert Series. Let’s kick off with a little background, can you tell us a bit about yourself? How did you get to where you are now? 

Interestingly enough, my journey actually began in a bank! Three years later, I then moved into F&B where my true passion lay, landing a role at Classic Fine Foods, a leading gourmet and ingredients supplier in Malaysia.

During the height of the third-wave coffee movement, we opened the first coffee training school in South East Asia, Universita del Caffe Della Malaysia in partnership with illycaffe in Italy.

Nine years on, I was presented with the opportunity to join Secret Recipe Cakes and Café.

At Secret Recipe, effective marketing strategies and a supportive team resulted in a proven track record of awards for the brand, namely, ‘Brand of the Year’ by World Branding Awards from Kensington Palace, London and Platinum for ‘Best Brand’ and ‘Best in Marketing’ by Star Outstanding Business Awards (SOBA) for both 2018 and 2019.

In fact, just last week, we took home ‘Malaysian Business of the Year’, Platinum for ‘Best Brand’ and Platinum for the newly introduced category ‘Best Halal Product or Service’ at SOBA 2022.

You’re the Head of Marketing at Secret Recipe Cakes & Cafe in Malaysia. Please tell us a bit about Secret Recipe and the company’s product philosophy.

With a history spanning 26 years, our vision has always been to establish ourselves as a top-tier industry leader by consistently delivering high-quality products that exceed our customers’ expectations. Our team is committed to going above and beyond by implementing innovative ideas and continuous improvements to meet our goals.

The market is highly competitive, and we use various marketing channels throughout the year to showcase our new and exciting hot meals and cakes to keep our customers engaged. However, introducing new products alone is not enough, so we also collaborate with different parties and brands to keep our brand top of mind and close to our customers’ hearts.

As marketers, it is crucial to stay informed of the latest industry trends and always be open to learning and adapting.

What role do you play as Head of Marketing at Secret Recipe? Is there a part of your role you enjoy most?

As a marketer, you will always wear more than one hat. You have to be the marketing strategist, the social media strategist, the content strategist, the creative director, the budget specialist, the coach and a whole host of other things.

I can’t tell you which of them I enjoy the most but I love the unpredictability. I love the challenges, the new things that are thrown your way, obligating you to navigate.

For example, look at the buzz and concern ChatGPT has created – instead of it being a threat, how can we learn from it? That should be our focus.

You’ve worked at Secret Recipe for more than 7 years now, and before that, you were with Classic Fine Foods for nearly 9 years. What drew you to the F&B industry as a marketer?

People say FMCG is fast, but personally, I feel F&B is even faster.

Your response time to market situations has to be on point and you must be able to scale quickly. It keeps me on my toes, and I learn more and that’s what I love about marketing.

There’s always something new to learn!

Is there an experience or moment you’re most proud of during your career to date?

One of the moments that I am most grateful for is when we won Platinum for ‘Best in Marketing’ at SOBA for 2018 and 2019. Another is when I was invited to be a panel speaker at DigiBranCon 2.0, last October.

But if I am to be perfectly honest, I am the proudest of my team, how far we have come and grown together in 7 years. Some have since left, but I am very proud to see how they have grown in their new roles.

(Side note: do not try to headhunt my team members.😉)

The F&B industry was heavily affected by the Pandemic. What lasting impact do you believe the pandemic’s forced acceleration of digital transformation has had on the industry?

The two years of the pandemic forced the F&B industry to grow digitally, which is something that might have taken five years or more normally. That being said, digital adoption and transformation will not slow down and we shouldn’t stop and go back to the conventional ways of doing things.

People changed, and consumers’ buying behaviour changed as well. I believe many industries are accelerating digitalisation as we have to be open to the new technologies and trends coming our way.

Do you think that this impact has permanently changed how you and your team go about your work? Where do you see your strategies going in the next few years?

My team grew very close together during the pandemic and it has shown us that we can do things that are beyond our expectations.

The sense of emotional closeness other than just the professional relationship makes us work together much more cohesively.

One thing that I realised during the pandemic was that we cannot work alone and in silos. As individuals, we all require assistance and collaboration with each other. I cannot foresee exactly what will happen in the next few years but on a personal level, I will continue to connect with my team both professionally and emotionally.

Any advice you’d give to young and/or aspiring marketers? 

This will sound corny but I am going to quote “Rome wasn’t built in a day”. Always have the perseverance to test and learn. Humility is key since there will always be something that you don’t know, but it doesn’t mean you can’t learn!

It’s been great to learn more about you and your work, Evelyn, thank you for sharing. How can people connect with you if they’d like to know more about you or Secret Recipe?

Connect with me on LinkedIn!

 

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There’s no doubt about it that we live in a crazy digital age that’s packed with data.

Especially in the marketing field. 

Businesses are constantly collecting and analysing data to make informed decisions about their marketing strategies. The funny thing is that most marketers still struggle with a very fundamental fact: being data-informed and data-driven are not the same thing!

There’s no denying that digital marketing has evolved. We are facing new technologies and data analytics tools almost every day! 

The double-edged sword of this, however, is that marketers now have more data at their disposal than ever before. 

As a result, marketers must choose between two approaches: data-informed marketing and data-driven marketing. Both are – obviously – reliant on data, but they differ in their underlying philosophy, goals, and methodologies. 

Let’s see how:

Data-Informed vs. Data-Driven Marketing: What’s the Difference?

Being data-informed means using data to aid your decision-making process. 

It’s all about using data to gain insights and understanding but ultimately, the final decision is based on human judgement. 

Data-driven marketing, on the other hand, relies on making decisions based solely on data. It’s about using data to set objectives, make decisions, and measure success.

According to Dhawal Shah, 2Stallions Managing Director, in an interview given at the Programmatic Pioneers Summit 2023: there are pros and cons to both approaches. Being data-informed allows for a more balanced decision-making process that takes both data and human judgement into account.

Essentially, data-informed marketing tips the hat to the fact that while data is valuable it doesn’t always tell the whole story, often overlooking other considerations such as customer experience, brand identity, and business goals. 

By combining data with human judgement, businesses can make more informed decisions that take into account the bigger picture.

However, being data-informed also has its limitations. Too much data can bog marketers down, or worse, overwhelm them in the attempt to analyse it. In addition, marketers might interpret the data differently, leading to different conclusions and decisions.

On the other hand, being data-driven can provide a more objective and measurable approach to marketing… 

Let’s dive a little deeper:

What is Data-informed Marketing, really?

Data-informed marketing is an approach that uses data to inform decisions, rather than drive them. 

Data-informed marketers don’t only look at the analytics and metrics that they gather using platforms and tools. They also gain insight from other sources like customer feedback and market research. This offers a glimpse into the actual human sentiment behind the data that they need to consider.

The trick is, of course, to then use this insight to create a more personalised and effective marketing strategy and campaign.

Pros and Cons of Data-informed Marketing

Using data-informed marketing to create these kinds of personalised and relevant campaigns is one of the key strengths behind data-informed marketing.

Campaign messaging and other content can resonate better with target audiences. 

This strategy is also more flexible than data-driven marketing, allowing for on-the-fly tweaks based on real-time feedback and new data.

The downside, however, is that it can be limited by the quality and quantity of the data that comes in. If data is incomplete or inaccurate, marketers could make decisions based on flawed assumptions, which can lead to ineffective campaigns. 

Additionally, data-informed marketing may not be suitable for all industries or products, as some customers may not have a strong online presence or may not be as responsive to digital marketing efforts.

So what is Data-driven Marketing then?

Data-driven marketing, on the other hand, is an approach that relies heavily on data to drive decisions. 

Data-driven marketers use data analytics tools to gather, analyse, and interpret large amounts of data, such as customer purchase history, web traffic, and social media engagement. They then use this information to make data-backed decisions about marketing strategies, targeting, and messaging.

Pros and Cons of Data-driven Marketing

One of the main advantages of data-driven marketing is its ability to deliver more precise targeting and personalisation. 

By analysing vast amounts of data, data-driven marketers can create highly specific customer segments and tailor marketing messages to each segment.

Data-driven marketing is also more efficient than data-informed marketing, as it can automate many processes, such as A/B testing and optimisation.

One of the downsides of data-driven marketing is that it can sometimes overlook the human element of marketing. While data can provide valuable insights into customer behaviour, it may not always capture the full context of the customer’s needs or emotions. 

Additionally, data-driven marketing can be expensive and time-consuming, as it requires advanced analytics tools and skilled professionals to interpret the data.

Final Thoughts: Benefits of Data-informed and Data-driven Marketing for Marketers and Brands

Both data-informed and data-driven marketing have their unique benefits, and the choice between the two depends on the marketing goals and resources of the brand. Data-informed marketing is ideal for brands that want to create personalised, relevant campaigns, but may not have the resources or infrastructure to implement advanced analytics tools. 

Data-driven marketing is suitable for brands that want to leverage data to drive growth and achieve more precise targeting but may have more significant budgets and more complex marketing needs.

Where does that leave us then?

That really depends on your resources and desired outcomes.

In essence, data-informed and data-driven marketing are two approaches that use data to inform or drive marketing decisions. While both approaches have their pros and cons, they can offer significant benefits for marketers and brands, such as more personalised targeting, higher engagement, and increased ROI. 

Looking to get a bigger picture on your own data-driven or data-informed marketing strategies? Or just want to get started? We can help – our team of experienced marketers can help you implement a bespoke strategy that is aimed at helping you achieve your business goals.

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Fintech. It’s a sector we’ve been hearing – and talking – about a lot for the past five years.

And the conversation isn’t going to stop any time soon.

When you grow up with a strong work ethic and a passion for taking on new challenges, there’s no doubt that you’ll do well in life. That you’ll be drawn to situations and opportunities that others might find daunting.

In this issue of the Marketing Expert Series, we meet Robin Ang – co-founder and Group CEO of Finology. Those of you who have been following this Series will remember that we spoke with Finology’s Head of Marketing, Vahid Ebrahimi, in a previous issue.

This time around, we deep dive into the why’s and wherefores behind the founding of Finology – a company that continues to grow, evolve and provide fintech innovations and solutions to an ever-changing society.


Hi, Robin, thank you for joining us in our Marketing Expert Series. Let’s kick off with a little context, can you tell us a bit about yourself? How did you get to where you are now? 

Sure. Growing up in a family of restaurateurs, entrepreneurship is second nature to me. I was raised in a humble environment where I learned the importance of hard work, people, innovation, perseverance, and passion in approaching life’s challenges. This has taught me to remain optimistic in the face of setbacks and maintain a positive outlook.

Building on this foundation with over two decades of entrepreneurial experience, I am now eager to tackle innovative ideas in the Fintech industry.

I am drawn to this rapidly growing field because it offers ample opportunities for investment and development in areas such as lending, insurance, real estate, and automotive. I am also passionate about finding ways to empower individuals and help businesses become sustainable and effective.

You’re the co-founder and group CEO of Finology. In a previous interview in this Series, we spoke with Vahid Ebrahimi Fakhari, Finology’s Head of Marketing, we touched on the importance of fintech and the innovations Finology stands for. What led you to found Finology and what role do you believe the company will play in the future?

By 2017, my partner, Jared Lim, and I had already established a reputable presence in the financial industry through Loanstreet, a consumer financial marketplace that we co-founded in 2012.

It is incredibly fulfilling to see the impact our technology has had on so many people, from uncles and aunties to young families and new professionals, all of whom have been able to access affordable credit and improve their lives in so many ways.

However, we realised there was still much more to be done. We observed a growing frustration with manual loan application processes that were slow, cumbersome, and lacking in accessibility. This sparked our mission to create a financial solution that would eliminate these barriers and make financial products accessible and seamless for all.

And so, Finology was born – a name inspired by the idea that finance can be accelerated through technology. Our mission is to make financial products accessible and seamless for everyone, everywhere.

Can you tell us about some of the most effective strategies that you and the team at Finology have implemented in recent years? Is there an achievement you’re most proud of?

We’ve got a couple of tricks up our sleeves that have helped us achieve great things over the past few years. For starters, we’ve invested a lot of resources into technology to make our solutions even better and give our clients a top-notch user experience. We’ve also joined forces with some of the biggest names in finance, as well as consumer brands and platforms to broaden our reach and offer more services to our valued clients.

As for what we’re proud of, there are two things that stand out. Firstly, the recognition we’ve received from the industry. Being named one of the best fintech companies in the Asia Pacific region by leading publications is a huge deal for us. It’s a reflection of all the hard work our team puts in, and we’re determined to keep raising the bar.

And secondly, but most importantly, is the trust our clients have in us. Our client retention is key to our success, and it’s amazing to see our clients coming back for more and more solutions. We feel incredibly fortunate to have such fantastic support from our clients.

The world has changed in the last few years, with the Pandemic and the shift in the economy, how has Finology been impacted by these changes?

The pandemic has definitely kicked things into high gear in the financial world. All of a sudden, there’s a huge demand for digital transformation, and that’s led to some exciting partnerships and collaborations between traditional finance players and fintech/insurtech companies like us.

We think this is all for the better, as it’s creating new opportunities to make finance more accessible and user-friendly for everyone. At Finology, we’re making the most of these changes by always improving our solutions and building relationships with even more partners.

Another silver lining of this global crisis is that it has pushed countries that were behind the times in terms of technology to catch up faster. This means a bigger market for us to explore and serve. It’s a pretty exciting time to be in finance, right?

How did the developments over the last few years affect your strategies as both co-founder and Group CEO?

The past few years have been a rollercoaster, and we’ve had to roll with the punches. To keep up with the changing landscape, we’ve sharpened our focus on making our end-to-end solutions even better for our clients. We’re also staying ahead of the game by investing in technology and building strong partnerships.

On top of that, we’ve put together a team for business development and marketing to boost our growth in the local market while making a name for ourselves regionally. It’s been a lot of work, and we look forward to seeing our efforts pay off.

In your opinion, what are some of the biggest challenges facing the fintech industry today?

One of the biggest challenges facing the fintech industry is regulation. As the industry grows, we must have clear guidelines in place to protect consumers and ensure stability in the financial system. The challenge is finding the right balance between innovation and protection.

Another challenge is the constantly-evolving consumer expectations. We believe in staying ahead of the curve and continue to offer unique solutions that make a difference in people’s lives.

Finally, data privacy and security are top concerns. With more and more financial transactions happening online, companies must implement strong security measures to protect their client’s sensitive information. At the same time, we must also make sure we are transparent about our data practices and give people control over their information.

How have these challenges affected the direction and strategies you’ve implemented with Finology?

Challenges keep us focused, reminding us to stay ahead of the curve and to continuously innovate.

Where do you see the overall fintech sector heading in the next five to ten years?

In the coming years, we’re bound to see some exciting changes in the fintech world. Advances in technology and shifts in consumer behaviour will continue to drive growth and development.

Here are a few trends that we’re watching closely:

  • More and more people are turning to digital and mobile banking services.
  • Alternative lending and investment options are becoming increasingly popular.
  • Technology is helping to bring financial services to people who were previously “underbanked.”
  • Artificial intelligence and machine learning are becoming more integrated into financial services.
  • Financial wellness and education are becoming a bigger priority for everyone.

All in all, the fintech sector is poised to play a vital role in shaping the future of finance and financial services. We’re eager to see what the next decade brings!

With all the digital disruption industry and the fintech innovation we’re seeing now, do you believe that there will be a continuing need for a human touch amongst all this technological advancement?

Definitely. While technology is advancing rapidly, it’s unlikely that it will completely replace human interaction in finance. People still value the personal connection and human empathy that comes with financial advice and support.

For example, even though Finology offers end-to-end digital solutions, we still give room for manual intervention. This is especially true when it comes to outlier financial decisions and circumstances.

So, I believe there will always be a need for a human touch in the fintech industry, complementing technological advancements.

Any advice you’d give to aspiring fintech entrepreneurs and marketers? 

I’d say, first, find a real pain point in finance and create a solution that solves it. That’s how you’ll stand out from the crowd. Second, reach out to others in the industry, build partnerships and learn from their experiences. Lastly, don’t be afraid to test and make changes to your product or marketing strategy based on customer feedback. Continuously improve to meet the evolving needs of your target audience.

It’s been great to learn more about you and your work, Robin, thank you for sharing your experience and insights with us. How can people connect with you if they’d like to know more about you or Finology?

You can connect with me on Linkedin and, visit www.finology-group.com to know more about what we do as a company.

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Did you know that the majority of the digital marketing experts we have featured in this Series came into their careers by accident rather than by design? In fact, most of them tell the story that they were in a different line of work and were either nudged by others or made their own choices to enter a digital marketing role.

Not so with today’s interviewee! 

Mark Ong is the Corporate Marketing Director for Phoenix Contact, and he got there by studying Marketing Communications at school. 

From there, Mark has built himself a strong, successful career in the digital marketing sector, working with companies like Honeywell. 

Join us then, for exciting insights into Mark’s career and achievements in this issue of the Marketing Expert Series!


Hi, Mark! Welcome! Thank you for joining us in our Marketing Expert Series. Let’s kick off with some background, please tell us a bit about yourself. How did you get to where you are now? 

Thank you, it’s a pleasure to be here. I think I am very fortunate because I am working in an area which I studied in school (Marketing Communications). I have been in marketing for more than 17 years and serving in a leadership position for 9 of these years.

I am currently the Corporate Marketing Director for Phoenix Contact and part of the management team. Prior to Phoenix Contact, I was working as the APAC MARCOM Leader for Honeywell, which is a Fortune 100 US Conglomerate.

You’re the Corporate Marketing Director (SEA) of Phoenix Contact. Can you tell us about Phoenix Contact and the solutions the company offers? 

Phoenix Contact is a German company, founded in 1923. This year marks our 100th years anniversary, which is a tremendous milestone for any company to achieve. We manufacture electrical components and connectors for a wide array of industries such as Oil & Gas, Telecommunications, Water & Waste Water, Machine Building, Infrastructure as well as E-Mobility. 

The world has changed in the last few years, with the Pandemic and the shift in the economy, how has Phoenix Contact been impacted by these changes?

Thanks to the wide breadth of products and solutions that we carry (we offer > 100,000 products) for various industries, we were thankfully not heavily impacted by the pandemic. This is because when 1 industry is down, another industry will inevitably pick up. For instance, during the Energy crisis a few years ago (which is one of our main industries), Machine Building picked up and we enjoyed tremendous growth from it. 

How did the developments over the last few years affect your strategies as  Phoenix Contact’s Corporate Marketing Director for Southeast Asia? 

We built up our marketing and technology stack and implemented tools to aid in our digital transformation, making us more agile and harnessing the power of automation to increase the productivity and efficiency of our team. For instance, during the initial stages of COVID when there were no physical events, we switched really quickly to webinars and live streaming.

I also realized that because of the pandemic, the majority of people will be working from home and thus consumption of content will have to change. Therefore, I invested in building up our very own media centre here in Singapore (about 1,500 sqft) where we can produce and edit local content for SEA. 

Tell us about some of the most effective digital strategies that you’ve implemented in recent years. Is there a strategy or campaign you’re most proud of?

We have done many great campaigns over the years, but the one that I am most proud of is our social media strategy shift. Being a B2B company, we used to post photos of our products on social media together with the USP of the product.

However, 2 years ago, I implemented a strategy shift whereby the theme and focus of our social media posts are socially relatable. In other words, we moved away from posting product photos as the highlight, but rather utilize visuals and texts that would easily be understood at a glance even by a non-engineer. 

I subscribe to the belief that even though we are a B2B company, ultimately the people using our products and solutions are humans, so essentially we are marketing as a B2C. 

This paradigm shift in strategy helped us to more than 3X our engagement rate with our customers and increase our followers on social media by more than 20%.

How do you stay up to date with the latest digital marketing technologies and tools?

By being on the ground and keeping yourself updated on the latest news. For instance, I read daily technology websites such as Ars Technica, Fast Company, The Verge etc. and attend marketing events (as either a speaker or as a participant).

This helps me to build up my understanding of the ever-evolving digital landscape. 

In your opinion, what are some of the biggest challenges facing marketers and digital experts in your industry today?

We work with a tremendous amount of big data, but I feel that many marketers are not harnessing this data effectively to drive business decisions. For instance, many marketers would have KPIs such as open rate, CTR, impressions etc. These in my opinion are great to have, but how does it truly advance the business? Therefore, the KPIs that I set for my team are more marketing revenue driven – for instance, the number of MQLs, the value of opportunities generated from these MQLs, the conversion rates etc.

If you think about it, oftentimes, when there is a retrenchment exercise, marketing is often one of the first to go. Why is it? This is because many people view marketing as a cost centre and not a profit centre. 

And in other to be a profit centre, we need to start by adjusting our mindset to be more revenue and results focused. 

Where do you see Industry 4.0 heading in the next five to ten years? Will we get to a point where we’re living in a fully automated and ‘smart’ world?

We already are seeing the effects of Industry 4.0 – whether is it marketing automation, robotization, big data analysis, AI or Machine learning. 

However, right now what is really changing the marketing landscape is AI-driven tools like ChatGPT, which has really radicalized the way we work. In the past, we used to spend hours crafting social media posts but right now, with ChatGPT, a social media post can be crafted automatically in just seconds.

The big question many people ask is, will this make my job redundant? I empathically say no to that, because while ChatGPT can help you to craft your messages, there still needs to have a human element involved to read through and edit and “humanize” the message.

To me, this automated and smart world is not an ‘if’ but is already here. As marketers, we need to evolve and adapt to it. 

Any advice you’d give to aspiring marketers especially those interested in helping advance Industry 4.0? 

I think that the biggest advice I can give to aspiring marketers is to read voraciously, keep an open mind and embrace technology instead of shunning it. 

What keeps you motivated? Do you have a personal motto/saying or something else that drives you forward?

My team is the one that motivates me. I believe in servant leadership and a company is nothing without its employees. Therefore team spirit and strength are crucial. 

With that being said, I firmly believe that a team is like a sports team. We are here to win medals, but not everyone will stay here forever. People come and go, and that is normal. What is important is the time spent together winning. 

Thank you for sharing your experience and insights with us, Mark, it’s been a real pleasure. How can people connect with you if they’d like to know more about you or Phoenix Contact?

Please connect with me on LinkedIn! 

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2Stallions Digital Marketing Agency is pleased to announce that we will be supporting Singaporean Trade Associations and Chambers (TACs) in their digitalisation efforts as a Pre-Approved Digital Marketing Solutions Vendor for the Digi-TAC programme.

The Digitalisation of TACs Programme (Digi-TAC) was launched by the Singapore Business Federation (SBF) and SGTech in a joint effort to help TACs grow their businesses through digital activities.

“The future of business is digital,” Dhawal Shah, co-founder and Regional Managing Director of 2Stallions said, “and it’s important that we as a digital marketing agency are doing everything we can to help businesses of all kinds step into that digital space. This is why being able to support TACs as a Digi-TAC Pre-Approved Digital Marketing Solutions Vendor means a lot, to us and to the TACs we are here to support.”

Digitalisation has been at the forefront of business growth for more than a decade now. In fact, studies show that Internet user growth alone has risen by a factor of 2.27 over the past decade. Basically, more and more target customer audiences are going online, and businesses have to follow to stay in touch with them.

As an added advantage, the digitalisation of marketing initiatives allows for real-time data analysis. 

2Stallions Head of Performance, Geetha Boyani, elaborates: “Digitalisation has improved efficiency and productivity for all kinds of businesses. Data-driven digital marketing, in particular, has brought organisations and their target audience together through value exchange and personalised user experiences.”

In essence, the result of digitalisation is a better understanding of customer behaviour, leading to vast improvements in user interfaces and experiences on websites and other digital platforms.

Digital marketing solutions can help businesses of all kinds stay ahead of the changing digital environment and help them leverage useful tools like Search Engines and Social Media platforms.

About the Digi-Tac Programme 

The great thing about the Digi-TAC Programme is that it supports TACs in two distinct ways:

1. The adoption and integration of digital solutions to help TACs grow
2. The training of TAC teams to help TACs move forward in the digital space

In other words, not only does it create opportunities for TACs to use digital marketing solutions, but the Digi-TAC programme also provides training opportunities to consolidate the benefits of those solutions in that industry.

Supported by Enterprise Singapore, eligible TACs can apply for support and grant funding until 31st July 2025.

The grant amount for each TACs is $60,000 (SG) for the 3-year programme with a cap of $30,000 per year. In addition, 70% of support for qualifying costs is granted to TACs to help them get started.

If you want to check whether your TAC is eligible, visit the SBF website

2Stallions Digi-TAC Digital Marketing Solutions Packages

Package A – Search Engine Optimization + Social Media Advertising (3 months)

Benefit to TAC: Rank higher on search and grow your membership/event registrations

Our 3-month package combines Search Engine Optimization (SEO) and Social Media Advertising (SMA) to deliver results. 

With SEO, we’ll help you improve your ranking and attract more visitors through search engines. And with SMA, we’ll deliver targeted ads directly to your audience, increasing conversions and driving growth. This package has the potential to increase your organic traffic and expand your social media reach. 

Package B – SEO with content creation (12 months)

Benefit to TAC: Get more visitors to your website pages through search

Our 12-month package combines SEO with high-quality content creation to deliver powerful results. 

With SEO, we’ll help you rank higher on search engines and attract your target audience. And with our expertly crafted blog articles and infographics, we’ll help you engage and educate your audience, generating more leads and driving traffic. This package has the potential to increase your organic and referral traffic making it a smart investment for any TAC.

Package C – Search Engine Marketing (SEM) with landing page development

Benefit to TAC: Drive membership growth, event registrations and awareness with Google Ads

Our SEM package includes targeted Search Ads and professional landing page development to deliver results. This can drive membership growth, build awareness or drive registration for TAC events. With our expert team handling your campaign, you can expect highly qualified leads and an increase in website traffic. This package is ideal for TACs looking to take their online presence to the next level and generate measurable results.

Package D – LinkedIn Marketing 

Benefit to TAC: Build quality followers and thought leadership on LinkedIn

Our LinkedIn marketing package is designed to help you to create a monthly content calendar featuring 12 engaging posts that showcase your TAC and its activities. 

We’ll create and publish high-quality content that resonates with your target audience. The package includes high-quality photos and video creation that will be used in your LinkedIn posts. This package has the potential to increase your social media reach. 

Package E – Marketing Automation

Benefit to TAC: Leverage on automation such as membership renewal automation

This marketing automation package is designed to help you streamline your digital marketing efforts and improve engagement with your audience. 

We will recommend processes for automation and create up to 3 customer nurture sequences to drive activation and engagement e.g. include event registration automation and membership renewal automation. By automating emails, social media posts, and other marketing efforts, you’ll save time and do more with a small team. 

Our expert team will handle the setup and execution of your automated campaign, you can expect increased ROI through lead nurturing and a better overall customer experience.

 

Tap into the Digi-TAC grant for your organisation
Speak to our digital marketing experts

Marketing intelligence is a complex field.

In a nutshell, it’s the process of gathering, analysing, and interpreting data to gain insights into customer behaviour and market trends. It helps marketers understand their target audience better, keep up with the constant change and identify opportunities for growth.

Marketing analytics is used to identify patterns in customer behaviour that can be used to inform marketing strategies.

As the digital sphere continues to diversify and change, the means of measuring and tracking all digital marketing activities must continue to evolve with it.

In this issue of the Marketing Expert Series, GrowByData’s co-founder and Managing Partner, Prasanna Dhungel, joins us to share his experience and insights into the complexity of marketing intelligence.


Welcome, Prasanna! Thank you for joining us in our Marketing Expert Series. Let’s kick off with a little context, can you tell us a bit about yourself? How did you get to where you are now? 

I am originally from Kathmandu and spend my time between there and Boston. I am a trained engineer and started my career working in a Healthcare IT startup, which did very well. I went to business school and consulted product and investment companies on how to do well with data.

This was the early stage of Big Data and I was noticing challenges with how companies were using data. So I formulated a concept of how data should be used and kept using it. At that time, e-commerce was starting to grow and I co-launched GrowByData to offer data insights to SMEs in e-commerce. That is how we started.

In the beginning, we did various data service projects and slowly started building technology to enable firms to process and share marketing data. We went into the competitive intelligence space to offer insights on pricing.

Here, we saw an opportunity to offer broader reporting on marketing metrics such as share of voice, pricing, merchandising and lots more. Today, we provide marketing intelligence on ingredients that help a brand get clicks from shoppers on the digital shelf.

You’re the Co-founder and Managing Partner of GrowByData. Please tell us about GrowByData and how you came to create the company.

GrowByData provides marketing intelligence to agencies and brands to win new business and boost performance.

The challenge today is digital shoppers are meandering on the web collecting information on their path to purchase. However, platforms such as Google are constantly changing. And competitors are constantly adjusting their strategies and offers.

Hence becoming visible and getting the click on this journey is vital for brands. We offer agencies and brands this insight so they are on top of these ingredients to purchase.

Through our agency partners today, our marketing insights and white glove services power the marketing performance of leading brands such as Marriott, Amazon, Williams Sonoma, Discover Card, Express, AutoZone, Lego and others.

What role do you believe the Marketing Intelligence sector – and GrowByData as a result – play in the development of the global digital space?

All firms face competition digitally. Marketing leads, customer retention and incremental revenue are impacted without an ongoing understanding of the digital ecosystem a firm plays in.

For this, marketing intelligence is vital – online across search, marketplaces, social and others – and offline. GrowByData offers search intelligence, marketplace intelligence and product intelligence – subsets of the digital marketing ecosystem.

We differentiate our offerings by breaking silos across these point solutions and offering a holistic view of the competitive landscape to the management team. With our white glove services, we offer deep custom intelligence for brands to adjust their advertising, product, pricing, channel and merchandising decisions. This is vital for brand leaders to build, analyze and refine their custom strategies and maintain their competitive differentiation.

Can you discuss data and analytics in digital marketing and how they can be used to optimise campaigns?

Data analytics must be used in digital marketing to create strategies and campaigns and monitor and optimize campaigns. You should use digital marketing platforms’ native data, customer data and external datasets to create a 360-degree view of your business landscape.

In our case, we provide holistic visibility on Google across various SERP features on Organic and Paid. We help SEO and SEM teams understand opportunities to improve content and advertising so they maximize ROI for their marketing investment. This holistic visibility is vital now for two reasons.

First, the economic headwinds have reduced the marketing budget and headcount so smartly investing is key.

Second, Google is heavily making changes and I expect we will see more as Google is on a war footing to stay relevant with ChatGPT. In light of this, using platform-specific data is also key to constantly staying on top of performance.

The world has changed in the last few years, with the Pandemic and the shift in the economy, how has GrowByData been impacted by these changes?

We help brands maximise lead flow and conversion from their digital marketing investments. Hence with the rise in digital for brands, our clients have seen more business, which means we have also seen the same. That said, we ride the sentiments and business dynamics of our clients.

However, we are a marketing solution that helps agencies and brands maximize performance with fewer resources and for a given budget. We break silos and offer newer insights with fewer resources.

So with the economic headwinds today and many agencies and brands operating with fewer headcounts, we are a great resource to continue to delight clients in the downturn. We are optimistic that our clients will find more value in our unified insights and white glove services at a time when end clients are more demanding, but the stakeholders have fewer resources internally to delight their clients.

How did the developments over the last few years affect your strategies as Co-founder and Managing Partner?

Google is constantly changing SERP. We saw many changes during COVID. With the threat from ChatGPT, Google continues to make changes on the SERP to provide all of us who search for the right information so we don’t move away from Google to find our answers elsewhere.

Many brands and agencies are constantly trying to stay on top of this and become relevant for those who search. With the rising need for alternative platforms to advertise, brands are spending dollars on Amazon, Walmart, Target and others.

These changes have reinforced our goal of staying current across these platforms and supporting our clients to maximise returns on these channels – whether it be on search marketing, amazon investment or other retail media networks.

Tell us about some of the most effective digital strategies you’ve implemented recently. Is there a strategy or campaign you’re most proud of?

 We have been using massive datasets across categories and time to offer industry-level reports such as Google’s Pulse of the Market. This insight has been valuable to our clients to help them understand trends in their category. We continue to enhance this report to offer insights into other categories and are sharing it across our marketing channels. I am proud of our work on this and know this will be a powerful value-add to our clients.

How do you stay up to date with the latest digital marketing technologies and tools?

I regularly read relevant information posted on social media and credible journals by thought leaders and industry practitioners. We also like to experiment with newer tactics on existing platforms and test new capabilities coming out.

Our space is highly competitive and it is imperative for us to stay on top of new tactics and new platforms to retain our edge. We also have to experiment with a business model to offer value to our clients.

In your opinion, what are some of the biggest challenges facing marketers and digital experts in your industry today?

Information overload, excessive marketing, the proliferation of platforms and technologies, data silos and constantly evolving techniques are the biggest challenges.

Google is rapidly changing. ChatGPT is a new opportunity and a threat to many, and we don’t know how it will impact the way we ask, learn and buy.

That said, this is also an opportunity for those that stay on top, experiment and rapidly develop new working models that show ROI will do well.

Where do you see the Marketing Intelligence sector heading in the next five to ten years?

I expect to see innovation in the way we search and consume information. I expect that platforms will automate more routine tasks and offer deeper answers to marketers.

I see insights in non-text mediums like images and videos increasingly get used to answering questions. I see us getting away from finding our answers by going over pages and pages to get what we want quickly. ChatGPT offers a preview of this world.

We, humans, will elevate our thinking to go beyond reading/processing information to synthesizing processed information, thinking deeper and using our insight to build a hypothesis or rebut. We have also moved from a data-scarce society to a data-overwhelmed society and will increasingly prefer pointed credible information vs the current need to find the needle in a haystack.

We will narrow our focus to a few platforms vs the many now. I see certain platforms dying out with consolidation and business model death. I expect to see vast innovation to enable, grow and keep a check on the innovations arising. All this creates vast opportunities in our space to stay on top and lead the way.

Any advice you’d give to aspiring marketers and digital entrepreneurs? 

The future is exciting for those in marketing and entrepreneurship. The incumbents are under threat from new players. So we will see many innovative technologies and business models.

Existing ways of doing marketing will evolve. New ones with arise. New partnership opportunities will be there. So I encourage those looking ahead to pay attention to the activities of the key players and the disruptors. While you want to hear the pundits, I wouldn’t fully trust them as the experts have generally been wrong at times like this. I would get my hands dirty, experiment, be willing to fail and try new tools, businesses and operating models. I would find the early adopters and really build the way with them.

I don’t know what will happen. However, I do know that change will be there and the bold will lead the way.

What keeps you motivated? Do you have a personal motto/saying or something else that drives you forward?

Adding value to my clients, showing them the way forward and helping them win always keeps me motivated. When we do the right things for our clients, positivism flows. We can support our team members, our communities and the greater ecosystem.

I have a quote from when I was young that keeps me going – “No aim is too high if you climb with care and confidence”.

For me, the intellectual challenge of taking on a big goal of delighting my clients and building the team, processes and platform to do so at scale and with a sustainable business model drives me forward. While hard, it is intellectually fun.

It’s been great to learn more about you and your work, Prasanna, thank you for sharing your experience and insights with us. How can people connect with you if they’d like to know more about you or GrowByData?

I am available on LinkedIn.

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