Posted on by Nathalie Tay
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GrowthOps Asia Reports Strong FY24 Performance, led by Marketing Services Expansion and Technology Margin Improvements
01 Oct
In 2023, GrowthOps continued to operate primarily as a Technology and Digital Transformation agency, with three quarters of its revenue generated from the Digital Platform and FSITech service lines.
Despite a challenging year for many agencies, 2024 marks significant growth in GrowthOps’ Marketing services, particularly in Creative and Performance segments. Creative grew by 45%, and Performance by 20%, driven by improved efficiency through the use of technology, AI, and optimized processes. Together, these advancements more than doubled overall margins.
This robust revenue growth was complemented by a record-breaking year of accolades, with GrowthOps earning 12 prestigious awards. Highlights include being named Southeast Asia Customer Engagement Agency by Campaign Asia and securing the title of Performance Agency of the Year at the Agency of the Year in Malaysia for the second consecutive year.
The agency also received numerous recognitions from The Drum and Marketing Excellence Awards, along with multiple honors at the Effies, Markies, and Kancil awards. GrowthOps also celebrated success in winning Podcast of the Year for “Unibizity” by Unifi Business.
Showcasing the agency’s industry leadership, two key team members took on prestigious judging roles: Regional Creative Director Adzam Bahrin joined the Kancil Awards panel, while Strategy Director Arshad Ahamed served on the Effie Malaysia panel.
Additionally, Chris Greenough, Malaysia General Manager and Regional Director of Creative Services, continued his role as a judge for the APAC Effie Awards.
GrowthOps Asia’s dedication to talent development and strategic partnerships, including collaborations with leading programmatic platforms such as Google, TikTok, Meta, and Teads, resulted in an exceptionally low attrition rate of under 4%. This stands in stark contrast to the average attrition rate of 16.5% for permanent roles in Malaysia and Singapore.
The agency broadened its client portfolio with prominent new account additions such as Shell and Upvio, and continued strengthening its existing relationships with key Telco and Banking clients. The growth in Marketing services contributed to diversify GrowthOps’ service offerings.
The Technology division continued to grow at a steady 3%, with strong margin growth. The agency maintained its robust partnerships with leading platforms like Adobe, Sitecore, Salesforce, and Zendesk.
New project launches included a 17 market rollout for Malaysia Airlines, Firefly, Hong Leong Assurance and Hong Leong Takaful, multiple portal and embedded insurance rollouts for AIA, and a Sustainability site for a major Asian bank and more, all of which included underlying Analytics, and Customer Data Platform rollouts.
GrowthOps’ FSITech practice maintained its strength, winning the Digital – Financial Technology category at the HKB Technology Excellence Awards for the second consecutive year.
This achievement was fueled by groundbreaking initiatives, including a pioneering core banking transformation for a multinational bank and the development of AI-powered platforms.
Additionally, GrowthOps Asia further unified its Strategy teams across both Marketing and Technology services, forming a comprehensive Transformation Consulting offering that seamlessly bridges consumer research and usability testing.
The agency deepened its partnership with Rakuten Insights and published a comprehensive white paper on Financial Services, focusing on both the state of digital transformation in consumer and business banking. A similar Telecommunications Industry whitepaper is set to launch soon.
Overall, GrowthOps Asia achieved 9% revenue growth and 25% improvement in practice margins. At the market level, both Malaysia and Singapore posted strong 13% growth. With a presence in four regional locations, the agency is expanding into new markets, including Thailand, and sees the Philippines as a promising opportunity for further service expansion.
GrowthOps Asia also launched a newly designed website and refreshed its branding with the tagline “Grow Unforgettable.” With a team of over 220 professionals across Asia, the agency emphasizes employee development and inclusivity.
GrowthOps fosters a diverse culture,and their innovative GOFlex program provides complete flexibility, allowing employees to work remotely or in-office, cultivating a collaborative community. This flexibility has been well-received, with over 80% of employees expressing satisfaction.
“Our growth this year reflects the trust our clients place in our ability to deliver transformative solutions across marketing and technology,” said Chee Hung Goon, Chief Executive Officer, Asia, at GrowthOps Asia.
“By maximising our digital expertise, optimizing our processes, and deepening strategic partnerships, we’ve not only expanded our services but also achieved strong results, positioning us for continued success in the region.”
These strategic moves and accomplishments underscore GrowthOps Asia’s commitment to driving forward-looking, transformative solutions while prioritizing the growth and satisfaction of both clients and employees.
