Malaysia, with its impressive internet penetration rate of 96.8%, according to the World Bank, has proven its robust connectivity and receptivity to tech advancements. This figure is predicted to see an annual growth of 0.4% until 2025, signifying the steady ascend of Malaysia as a tech-forward nation.
In this technological landscape, Malaysia exhibits a clear understanding of omnichannel communication. Businesses have been successful in employing these strategies, which revolve around providing personalized recommendations and timely reminders across various channels like email, app, web, and SMS, to name a few.
This approach is instrumental in boosting user engagement and fostering long-term loyalty. At the forefront of this realm is Netcore, offering an all-encompassing platform that enables brands to deliver and manage context-rich communications, thus creating tailored experiences and forging durable connections with users.
Embracing Full-Stack MarTech Tool to Achieve Profitability
The comprehensive or all-in-one marketing platform is gaining traction among Malaysian customers, providing them the advantage of utilizing all communication channels through a single interface rather than juggling various tech stacks for different channels. T
he current circumstances, marked by an overcrowded Martech space, a drive for simplicity, and ongoing economic conditions, are prompting brands to re-evaluate their tech stack.
Integration issues are adding to this hesitation. It’s not uncommon to see a company dealing with as many as 60 apps in its tech stack.
The aspiration to streamline operations is intensifying, and while a significant reduction in apps and platforms is expected, it’s improbable that a single platform can meet all requirements.
Amid these changes, profitability has emerged as the primary focus for businesses. Traditionally, marketers aimed to bolster the top line with little emphasis on profitable growth, often opting to invest heavily in new customer acquisition.
However, in light of the economic contraction of 2023, CEOs now envision their CMOs stepping into the role of Chief Profitability Officers. The solution extends beyond optimizing ad expenditure or enhancing the customer experience on owned properties.
A unified Martech-stack, personalized and relevant, can help improve customer experience, reduce ad wastage, and boost revenues, thus doubling profits without increasing marketing expenses.
Unified KPIs and Rise of Progency
Malaysian businesses are capitalizing on full-stack Martech tools like Netcore that are closely tied to the KPIs of marketers. This setup enables a partnership-like relationship with customers, where mutual objectives are achieved by understanding pain points and modifying strategies accordingly.
However, customers require substantial support to acclimate to these platforms, leading to the emergence of a new generation agency or “Progency” (product-led agency).
A Progency, unlike traditional agencies, merges content and creative capabilities with data analysis and software skills. Building atop a proprietary full-stack martech platform, a Progency assures the outcomes marketers seek with a success-based model.
These tech-first agencies own a martech platform and present a straightforward proposition: “We will deliver the outcomes you need, and we will get the job done for you. We have the machine and the operators. No one knows the machine better than we do.
We constantly make the machine better. You don’t need to worry about how it works.” In other words, the entire process is automated, and all marketers need to focus on is strategic thinking.
The Future for Marketers in Malaysia
Looking towards the future of marketing in Malaysia, it is envisaged as a trifecta of one marketer, one stack, and one Progency. With AI’s evolution, platforms like Netcore, which continually innovate and incorporate new technology, will pave the way.
The advent of generative AI, like the subject line generator, is only the beginning. There’s a vision of a marketplace with plugins, integrations, and more, all accessible with a simple click.
Progency platforms will assume a significant workload, making marketers’ tasks less manual.
This marketplace holds infinite potential for continual innovation, facilitating audience engagement, loyalty-building, and profitability enhancement. Indeed, the future for marketers in Malaysia appears promising and abundant in possibilities.
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