DIGITAL TREND REPORT - Q3 OF 2023 MALAYSIA & SINGAPORE
HOW MAKE A PROFITABLE DECISION DUTORING A RECESSIONHOW MAKE A PROFITABLE DECISION DUTORING A RECESSION
Navigating a recession requires a strategic approach in making marketing decisions. This guide will explore practical strategies and key considerations to make profitable decisions even in challenging economic times. Let's dive in and uncover the secrets to success during a recession.
Gen Z's deep involvement in fandoms is changing how they relate to brands and creating new business opportunities.
- Influential KOLs: Many Gen Z individuals, about 70%, are influenced by Key Opinion Leaders (KOLs). This creates opportunities for brands to collaborate with influencers who are part of fandoms.
- Brand Activism: A significant portion of Gen Z, over 60%, supports brands that take a stand on social issues. This opens up possibilities for brands aligned with fandom values to engage in activism.
- Diverse Interests: Gen Z has a wide range of interests in fandoms. For example, 72% of males are into gaming, while 50% of females are into music and pop culture. This means there are various ways for brands to engage with this generation.
EMBRACING AI IN DIGITAL MARKETING
In the digital marketing landscape, AI tools are game-changers. They swiftly analyze data, revealing customer behavior and market trends. AI-driven chatbots provide instant, personalized support, boosting satisfaction. AI also aids content creation and curation, making it tailored and easy to find. It enhances advertising precision, ensuring messages reach the right audience. But ethical use is crucial – respect user privacy, avoid bias, and prioritize transparency in AI-driven marketing.
Seizing Peak Shopping Moments & Ensuring Profit Sustainability
The shopping landscape is evolving into a continuous journey. Sales events are now frequent, occurring monthly alongside traditional celebrations like Ramadan and Christmas. Emerging sales days like 7.7 and 8.8 are gaining prominence, rivaling well-established events like 11.11. During these peak shopping seasons, a confidence gap has appeared. Shoppers worry that the price they paid during a sale might drop further. This concern leads to abandoned carts and a significant 63% increase in order returns compared to previous holiday seasons.
Embracing Video Contents
- Explaining Your Product: Videos are an excellent tool for simplifying complex ideas. Whether it's showcasing a product's features or explaining its benefits, videos make it easier for your audience to understand what you offer.
- Return on Investment (ROI): Videos can provide a good return on your marketing investment. They often lead to higher engagement and conversion rates, which can translate into increased sales and brand growth.
- Versatility in Marketing: Videos offer versatility in your marketing strategy. You can use them in various ways, from social media posts to email campaigns, to engage with your audience effectively.
- Higher Engagement: Videos grab viewers' attention better than text or images, resulting in increased engagement rates.
- Improved Conversions: Video content often leads to better conversion rates, whether it's getting people to subscribe to your newsletter or make a purchase.
- Building Brand Awareness: Engaging videos can help build brand awareness and establish your business as an industry authority.
- Mobile Accessibility: With the prevalence of mobile devices, video content is easily consumed on smartphones, allowing you to reach a broader audience.
Usage of application among users to follow / find information about products and brands, keep up-to-date with news / the world, post / share photos or videos.
Multichannel Experience
In the multichannel world of Gen Z, after building loyalty through personalized experiences, brands must ensure they have a strong presence across different platforms. Being consistent and cohesive in how they present themselves can boost brand recognition and appeal.
Considering that 89% of Gen Z prefers online shopping, it's crucial for brands to smoothly integrate their presence on social media and e-commerce platforms. Platforms like Instagram, Snapchat, and TikTok are popular among 98% of Gen Z, highlighting the need for effective brand promotion strategies on these channels.
Additionally, the growing interest in cryptocurrency among 50% of Gen Z suggests opportunities for integrating crypto payments.ts.
Considering that 89% of Gen Z prefers online shopping, it's crucial for brands to smoothly integrate their presence on social media and e-commerce platforms. Platforms like Instagram, Snapchat, and TikTok are popular among 98% of Gen Z, highlighting the need for effective brand promotion strategies on these channels.
Additionally, the growing interest in cryptocurrency among 50% of Gen Z suggests opportunities for integrating crypto payments.ts.
