Asia Marketing Federation (AMF) and Marketing Association of Thailand (MAT) issue a special report on the Top 10 Trends of Marketing in Asia 2020. The report is the synthesis of the professional foresight and consolidated wisdom of the Asian marketing fraternity.
Asia Marketing Federation is the networking body of marketing associations in Asia. AMF has a critical mission as the premier regional body which effectively promotes the interests of marketing in Asia and strengthens the Asian marketing fraternity. Its 17-member countries include Bangladesh, Cambodia, China, Hong Kong, Indonesia, Japan, Korea, Macau, Malaysia, Mongolia, Myanmar, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.
Top 10 Trends of Marketing in Asia 2020
1. Voice Search Optimization
Voice Search optimization will be the popular medium of choice as voice recognition technologies are getting more precise. This will be backed by the maturity of AI that is generating smarter responses.
As technology continues to evolve and becomes more intuitive, people are turning to faster and more convenient ways to go about their daily lives via their mobile gadgets. Voice search has become increasingly popular for performing online searches over text-input method. With the constant need to innovate and compete for market share, voice search will inevitably see an increase in adaption and accuracy. Smart technologies such as Apple smartphone, Amazon voice assistant and China's Xiaomi smart household devices can be controlled via voice command. The use of voice-based search optimization will become integrated into our daily lives as time pass.
2. Hyper-Personalization of Services and Products
Increased data collection and integration of artificial-intelligence have already had a huge impact on the level of personalization that is possible. Consumers have higher expectations now in their interactions with brands. Improvements in the use of AI combined with data science and predictive analytics in hyper-personalization to enable more marketing collaboration and integration both internally and externally to deliver greater customer experience.
Through the collaboration between tech companies and e-marketplace, they are also driving customer retention programs by using hyper profiling through intuitive data collection. Personalization is a marketing strategy that brands will have to invest in to meet the increasing expectations for customer experience when purchasing services and products. Such marketing efforts can be seen where women who have certain skin colors or body sizes, previously forgotten by fashion or cosmetic producers, are being approached by some marketers through brand ambassadors who have similar skin colors or body sizes.
3. Moment-Based Marketing
Capitalizing on micro-moments: Marketers should rethink about the linear consumer's buying journey that follows a conventional path from awareness to consideration and decision. For example, shoppable posts have shortened the marketing funnel by eliminating steps from the discovery process all the way to the point of purchase. Marketers must create relevance with consumer's micro-moments and design their marketing communications and executions at the right place at the right time to the right audience.
By looking at its number, there will be various moments in 2020 that marketers can leverage on at the global or local level to execute their moment-based marketing. At the global level, there are sports events such as the second Tokyo Olympic, (Tokyo is the second city after London that hosted the Olympics more than once after World War 2), and Euro 2020. Many marketers will use those moments either for branding or boosting to sell their products or services.
4. Video Search Optimization will replace SEO to become the preferred tool while for performing online searches.
Video Search Engine has also begun to receive increasing attention as video streaming become the most popular way for consumers to learn about new products. With Video Search Optimization, consumers can now watch videos and perform search for products and services by simply tapping on the objects in the video. This will significantly change how consumers are able to discover products and perform purchase without having to exit out of their video. In addition, the explosion of video streaming and voice search in recent years has also superseded static "readable" content to become the preferred online content and interaction on social media.
Marketers are urged to create creative visual content to influence consumer attitudes and behaviors, and expect to experience more data visualizations, creative infographics, emotionally appealing images, and videos in marketing and brand communications. With video search, streaming services will take on a drastic change in media pattern.
5. Nano Food Printing will be able to customize food and nutrition to individual diet and health condition using print technology
The use of AI and 3D printing has got everyone excited in the past years. And with the entrance of Nanotechnology, we will be able to customize food and nutrition to individual diet and health condition.
Nanotechnology in food processing offers many possibilities, as food can be analyzed and created not just according to the required nutrients, but also avoid pathogens and other chemical components that are unsuitable to the consumer. Beneficial enzymes that are required by the body can also be improved to become highly effective, more long-lived and cost-effective.
6. Space technology will revolutionize how we will experience technology in the future, as fiber optic cables will be eventually replaced by high-speed laser technology from space
The democratization of space technology empowered by commercialization has allowed tech start-ups and investors to begin to unravel the potential of extra-terrestrial domain. The technology to miniaturizing constellation of satellites means that we can create connection coverage over the perimeters of the globe, and at a much lower cost. Despite challenges with political policies from countries, the benefits that space technology can bring are much more alluring.
Replacing cable fibers which are buried under the oceans with high-speed laser technology in space will provide unbounded internet access and connectivity throughout the globe. This means that you will be able to experience smart technologies more seamlessly with no geographic limitation. It will also mean further advancement in areas such as automation of self-driving car.
7. With 5Gs and larger bandwidth fully in place, instant and interactive responses will be the basic expectations for all communications
The promise of incomparable speed and instant gratification for fast network connection, this means that marketers can perform much more personalized marketing strategies in the future. With speed, it also means higher data flow and content marketing will become even more exciting and competitive.
With the continued development of AI for the internet, the world will become even more connected place. We will be expecting more chatbots and other intuitive communication touch-points integrated in businesses. The expansion of 5G network will also bring about major disruption to our we experience mobile technology as we know it today.
8. Holographic Technology and Imagining Technology
Holographic Technology and Imagining Technology will be further enhanced with 5G bandwidth that flat screen panels will no longer be the preferred medium for entertainment content.
3D holographic inspired by Star Wars will soon be made possible, as increasing interest from investors and tech companies continues to push for the development of holographic products. The possibilities are unlimited with 3D holographic TV for entertainment and gaming, hologram smartphone with high speed 5G. Consumers with be able to experience realistic projections of moving visuals that will greatly disrupt the way we use technology. For example, consumers can now relive past experiences, such as watching realistic projection concert of celebrities that are no longer around.
9. Co-working Space gaining popularity among entrepreneurs and start-ups, as shared resources and expertise become the new business model
The trend of opting for co-working space over traditional working space is brought about by the increasing receptiveness of the Shared Economy mentality. Sharing resources and human capital reduces overall cost for operation, and such a business model is popular among young entrepreneurs and small start-ups who are just starting out.
The open-concept of co-working space also encourages dialogue and innovative collaboration to take place, which means people can share ideas openly and develop business opportunities. The shared resource concept can also be seen in the way they operate their business. For example, app services where we see the engagement of freelance delivery drivers in nearby neighborhood to meet the demand of consumers, instead of hiring full-time delivery staff.
10. Increasing Travel Intentions for Social Causes
Social structure has favor travels that offer more with less, hence we see an incremental performance in this arena. The increasing popularity in traveling for social causes, where traveling for social cause is fast becoming the popular reason for embarking on a travel destination. This is motivated by self-actualization goals through philanthropy works and charity works. Contributing back to the society beyond their communities.