MANILA, PHILIPPINES — MoEngage, the Insights-led Customer Engagement platform for consumer brands recently launched its new flagship data report, “The Customer Engagement Benchmark (CEB) Report.” The report included six 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 the Philippines:
- 72.80% of consumers in the Philippines claim they do not receive personalized content recommendations
- Only 35% of consumers in the Philippines receive updates for new movies, TV shows, or music that they like
- Shoppers in the Philippines prefer to receive shipping updates and alerts through SMS and email with 28%, followed by mobile push notifications with 23.6%, WhatsApp and mobile in-app messages (10.4% and 10% respectively)
- 36.8% of consumers in the Philippines rely on email to learn about loan offers and updates from banks
- Social media like Instagram is still the most popular way for travelers in the Philippines to get travel information and hotel regulations for their stay with 36%, followed by emails with 32% and mobile in-app messages with 12.4%
“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 at MoEngage. “This is why we developed a stellar Customer Engagement platform that provides actionable insights and enables businesses to create campaigns across multiple touch points. 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/.
