MoEngage, the Insights-led Customer Engagement platform for consumer brands recently launched their new flagship data report - The Customer Engagement Benchmark (CEB) Report. The report included 6 editions for various locations across the globe, such as North America and Southeast Asia, and covers the latest communication channel benchmarks across four primary verticals - Shopping, Media & Entertainment, Banking, and Travel.
According to a recent report, the Southeast Asian internet economy was worth US$174 billion last year and is expected to reach US$363 billion by 2025. By that year, over 80% of connections in the region will be smartphones. As such, enterprises are feeling an increasing sense of urgency to embrace digital transformation to keep up with today’s consumers as Southeast Asia moves toward 5G networks.
On the other hand, many are concerned about the risk of global economic slowdown due to the risk of global recession in 2023. As consumer brands navigate their way through the recession, the majority are increasing their efforts to drive Customer Engagement and Retention by focusing more on building brand loyalty with existing customers. By leveraging first-party data, brands can understand customer behavior patterns and preferences to better serve relevant and timely recommendations at the right time and on the right communication channel.
MoEngage’s report will help marketing teams across various industries understand the latest digital Customer Engagement strategies in engaging existing customers using data. The report also provides a collection of stories of how marketing teams of global companies are engaging customers by using an Insights-led Engagement platform like MoEngage. Within this region, the report has revealed the impact on customers’ experiences in various industries, notably in Vietnam:
- 15.2% of shoppers in Vietnam rely on mobile push notifications for product recommendations
- 20.4% of Vietnamese consumers want to get subscription renewal reminders and alerts via WhatsApp
- 21.2% of consumers in Vietnam get the latest updates to the stock market or investment portfolio via mobile in-app messages and website banners
- 23.6% of Vietnamese shoppers prefer to get shipping updates via Email
- 16.8% of consumers in the country want to get KYC updates and reminders via SMS (Text Message)
“Our report shows that to improve brand loyalty and grow LTV moving forward, businesses in Southeast Asia must analyze customer behavior and their journey to better understand how to personalize and enhance the overall brand experience,” said Saurabh Madan, General Manager of SEA and ANZ, MoEngage. “This is why we developed a stellar Customer Engagement platform that provides actionable insights and enables businesses to create campaigns across multiple touchpoints. For brands, knowing what communication channels work for different goals is the first step in understanding their customers’ preferences.”
The Customer Engagement Benchmarks Report 2022, with 62 benchmarks highlighting the impact of segmentation within the consumer environment is available at https://www.moengage.com/industry-reports/global-customer-engagement-benchmarks/.
