A study of6.6m consumers of a certain consumer engagement platform showed that behavior-based personalization and insights-led outreach did improve communication.
Here is a glimpse at how the retail, banking and finance, and digital entertainment sectors in South-east Asia have performed amid the pandemic.
In a January-to-April 2021 study of over 6.6 million consumers being engaged via the MoEngage platform across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, three digital activities were analyzed. These were: online shopping; banking and fintech; and digital entertainment.
These three segments were examined for indicators of consumer engagement changes across four communications channels: push notifications, email, in-app messages and website messages. As far as the platform data goes, the findings are:
- In South-east Asia, Daily Active Users (DAUs) of e-commerce, retail and direct-to-consumer (D2C) brands had increased by 13.36% in the period studied. For Monthly Active User (MAU) trends of the same brands, web MAUs had increased the highest (by 8.7%) compared to mobile. This is likely due to pandemic movement restrictions and shoppers working from home.
- Push notifications using behavioral attributes, with an added layer of personalization from shopping brands saw deliverability of up to 85.67%; campaign conversions increased to over 27%.
- An increase of 54.9% in the number of DAUs across all digital banking, fintech, P2P lending, insurance and crypto platforms during the period of study.
- Behavior-based emails saw better click-through rates and conversion across all industries as compared to the generic emails: open rates of emails from shopping brands went up to 28.17% and the 0.5% of emails that were behavior-based in the digital entertainment sector saw a 2.4x better click rate. In banking, behavior-based emails boosted conversions by 2.72x compared to generic broadcasts.
- Digital media and entertainment brands using custom user segments based on behavioral and user attributes to send in-app messages to Android users saw a 2x increase in click through rates and conversion rate of up to 50.05% as compared to sending the same message to all users.
Overall, the findings suggest that closely-analyzing consumer behavior across every critical channel and developing both proactive and reactive outreach in association with these insights can be beneficial in establishing customer-centricity, ensuring that brands meet and exceed the expectations of their customers and boosting long-term loyalty and repeat business.
According to Saurabh Madan, GM (SEA & A/NZ), MoEngage, the effective use of data can boost business performance and support the success of the entire digital marketing and advertising ecosystem: “Consumer behavior in South-east Asia has changed rapidly over the last year, and digital adoption across industries has accelerated during the pandemic period.”