Data is the new gold: How consumer brands in Southeast Asia are winning with insights-driven engagement
According to them, a business has only two functions: marketing and innovation. The evolution of the former over the last few years has been a boon to consumers around the globe. The modern customer expects and demands a personalized, enjoyable, and value-oriented experience.
It is the only way to be successful in today’s digital-first world. This has been proven by savvy brands. It begs the question, how can brands achieve such sophistication in their customer engagement practices? insights-led interaction is the answer.
Insights-led Engagement is a business framework that uses data to guide customer engagement decisions. Analytics to predict and analyze user behavior. Personalizing communication and content based upon these insights. Then, data-driven engagement is orchestrated. Finally, a focus is placed on retaining users via an omnichannel strategy.
These are just a few of the many reasons insights-driven engagement is so important for digital-first brands.
- This helps you to engage users in a more personal way than the spray-and-pray approach that many brands have used for a while.
- Customer loyalty can be improved by building relationships with prospects and customers.
- Your brand will have a personable personality that can relate to and converse with your audience.
This is only the tip of an iceberg. Brands who use insights-led engagement to grow their businesses have experienced 29% more growth than brands that have not yet tried it.
Framework for Insights-led Engagement at a Glance
Image source : MoEngage
MoEngage customers often follow the four steps shown above to engage in insights-led ways. Let’s dive into each step:
To predict the behavior of your customers, analyze your business data
The first step in the insights-led engagement funnel is also the most crucial. Leading consumer brands’ product managers and marketers use powerful analytics to gain a 360-degree view of their customers to better understand them and predict their behavior.
Here’s Rajeshwari Kanesin (Innovation Manager at U Mobile), one of Malaysia’s top Telcos, shares his thoughts on how to analyze data for user insights in a panel discussion with MoEngage
“When we first started, we looked at the RFM model in order to analyze customer behavior. The RFM model was not the best way to contextualize today’s digital experience. We have used the model at all points of the customer’s journey. We have now run hundreds of campaigns using the insights we derived em>
Personalizing the preferences and behavior of users to improve recommendations and offers
Based on the information you have gleaned by analysing customer data, personalize your user’s experience beyond hygiene. Your customers deserve a contextual, relevant, engaging experience. This starts by listening to their needs and making an effort to accommodate them. This is an essential step in your brand’s efforts to establish a reputation as a brand that meets users’ expectations.
After you’ve put in the time and effort to create a solid foundation for personalizing the user experience (building the infrastructure, setting the tools up etc. ), the results will be amazing. You will begin to see the benefits of your investment in customer engagement and a significant increase in ROI.
Engage with customers through multiple touch points
The next step in the framework for insights-led engagement is brand engagement. Brands orchestrate data-driven omnichannel users journeys, increase user reachability across multiple communication channels and optimize the performance of engagement campaigns with technology like machine learning.
Kushal Manupati (Head of Digital at Zilingo), a leading Southeast Asian eCommerce platform, made an interesting observation during the panel discussion.
The user journey is getting more complicated with all the channels available. Users also want to be reached in specific channels, and to have their own affinity for certain channels. To add value to the user we must understand the life stage of the user and the destination you want them to be in. This is the point from which all marketing decisions are made.
This is the best place to begin the crucial third step.
To combat churn, create omnichannel engagement campaigns and win back users
Brands must not only acquire new customers but also keep existing customers loyal and active. They also need to increase their CLV as much as possible to grow at breakneck speeds. This is often impossible to believe.
Marketers need to make sure that they focus on creating multi-channel, personalized campaigns to win back lost users, prevent them from leaving, and so forth. This is the final step of the insights-led engagement flywheel.
How top Asian brands use Insights-led Engagement
MoEngage is used by hundreds of brands in Southeast Asia to enhance their customer engagement strategies. This is how some brands helped to prove the value of this emerging art and science for consumers brands.
1. Mamikos boosts room rental bookings by 20% using MoEngage Analytics
Mamikos is Indonesia’s most trusted and popular room-rental app. It was founded in 2015 to provide easy, reliable, and trustworthy room rental services. Mamikos provides detailed information about Indonesian cities and offers accommodation management services. Over 2 million people have used the brand’s long-stay rental rooms.
Their inability to provide feedback on user behavior via their website and app was a major problem. They were therefore sending out generic information about available properties to their users. They wanted to change to a more personal approach to engaging users.
Mamikos’ team was able to use MoEngage to dig into funnel data to identify two stages of the user journey with huge drop-offs. These were the add to favourite’ stage and the booking’ stage.
Mamikos was able to use this information to modify its generic communication strategy to make it more relevant and personalized. Read more here
2. Blibli increases repeat purchase rates by 43% through the use of customer data
Blibli is an Indonesian e-commerce portal that offers a single-stop shopping experience. More than 20,000 products are available under 16 categories, including groceries and fashion, gadgets and home decor as well as automotive and car products. You can also get travel packages, vouchers and utility bill payments.
Blibli had micro-moments when its users made purchases or added products to their wishlist. The brand’s team could not engage the users with relevant product positioning by using other product categories.
The Blibli team decided that they would analyze active users to run campaigns using the MoEngage platform. They were eventually able to increase repeat purchases by existing users and make new purchases from new customers. Read more here
3. Luxstay Sees a 60% Increase in Engagement Rate by Segmentation and Personalization
Luxstay, an online platform for short-term rentals and a hospitality service, was established in 2016. These service providers are here to help homeowners make independent travel easier and increase their property’s value.
The company’s marketing team had a basic engagement strategy. They were using a marketing automation platform. This platform was not perfect. The brand experienced inconsistent segmentation and siloed channels. There was also no engagement.
To increase user engagement, the team devised strategies to improve behavior understanding and personal communication. Luxstay used the MoEngage platform for custom segmentation and personalized engagement. This resulted in a 5X increase of conversions and a 1.8X rise in MAUs. Read more here
4. Kredivo used MoEngage Automated flows to influence conversions by up to 40%
Kredivo allows ecommerce buyers the ability to apply for credit instantly and have it paid back over time. Kredivo merchants can offer Point of Sale financing to all buyers by using a 2-click checkout. Kredivo has grown to be one of the most popular and trusted digital payment channels for ecommerce Indonesia in less than three years.
Today’s online shoppers use at least two devices to make purchases. Kredivo was determined to stay with them every step of their journey.
Kredivo used MoEngage to implement an omnichannel engagement strategy that engaged and converted new users. This resulted in a 20% increase in push notifications’ delivery, and a 64% conversion rate when triggered emails were sent. Read more here
Engage in Insights-Led Ways
Marketers are often asked the question, “Is a new method just a fad?”. Are you merely a bandwagon expert or are there scientific principles behind the new approach?
Insights-led engagement is, fortunately for you, the former. It relies on data to drive business decisions and is therefore based on quantitative proof rather than intuition or hunch. You can learn this art as a marketer, or brand, while it is still in its infancy, and gain an advantage over your peers and competition.