China and India invest heavily in AI and ML
Technology and data are empowering brands to build direct, emotional relationships with consumers that are changing the way businesses operate.
Adobe’s 2020 Digital Trends report shows value of customer experience is unquestionable, with brands leading the way in customer experience are three times more likely to have significantly exceeded their 2019 business goals.
APAC businesses understand the importance of customer experience (CX) and are focussed on optimising the customer journey in 2020. And they’re set to increase their CX-enabling technologies investment in 2020 as they look to bring their CX maturity in line with their global counterparts.
The justification for such a world-leading investment is clear. The 2020 Digital Trends report from Econsultancy and Adobe reveals that brands classified as CX leaders are three times more likely than their peers to have significantly exceeded their 2019 business goals.
With such a huge prize at stake, APAC organisations realise they must invest wisely in the right technology as well as develop effective strategies to deliver better CX.
For those keen to observe how technology can transform digital marketing, China and India are the places to watch. They are both already leading adopters of technology aimed at improving CX, including AI and ML.
The governments in both countries are “making sizeable investments in AI”, this is only set to continue.
“The AI industry will find China particularly exciting to watch while mobile marketers will be keen to keep an eye on India’s efforts to rise to the challenge of providing a better mobile marketing experiences alongside slicker payment technology,” states the report.
The Adobe report showed APAC region is not as mature as others when it comes to CX and so observers will be seeking to establish if organisations can combine technology and strategy effectively to deliver on the year’s primary CX focus.
“Planned investments in technology will not be sufficient, unless matched by greater maturity in the region for drawing up a strategy and organising dedicated teams to deliver on those plans for growth,” the report states.
However, A/NZ has fallen behind others in the region, on CX but has identified catching up as their most exciting opportunity for 2020.
According to the report both countries “will need to consider organising businesses around delivering better CX supported by improved strategies, rather than ad hoc measures.
“The two countries have a lower appetite for technological investment, compared to their APAC counterparts, which could hold back efforts to catch up.”
Insights from the report includes:
- One in five (19 per cent) APAC organisations identify better CX as their most exciting opportunity for 2020.
- Creating better content, data-driven marketing, marketing automation and using IoT technology are their main tools for crafting better experiences.
Having a superior CX is identified as a clear differentiator across APAC, but there are regional differences in how to accomplish this:
- Australia and New Zealand (A/NZ) lean towards improved products and services.
- India is prioritising progressive web applications to offer a slick retail experience without the need to download an app.
- China is working
- on using design to build brands that are instantly recognisable for providing quality goods and services.
Only sever per cent of APAC organisations consider themselves mature in delivering CX compared to 11 percent for the Rest of the World (ROW).
- China leads in the region with 12 per cent companies rating themselves mature.
- Australia and New Zealand lags at just three per cent
- Australia and New Zealand are playing catch up in APAC: their CX strategy struggles to get beyond ‘ad hoc’ measures and they have the lowest penetration level in the region for dedicated CX improvement teams.