The Asian marketer: under-prepared, lacking innovation and unhappy with agencies
The vast majority of Asian marketers believe their brands are under-prepared for future challenges and do not have innovative marketing strategies, while many are also dissatisfied with their agency partners, research has found.
Consultancy R3 revealed the findings of the study which further underlined the issues facing marketers and in a session at Mumbrella360 Asia.
Alarmingly, only 7% of Asian CMOs questioned by R3 claimed their brands were sufficiently prepared to “navigate into the future”, with 62% saying there were dissatisfied at how marketing uses data and tech.
Even more remarkably, only 3% believe their marketing strategies are innovative, while 55% revealed they were not happy with the performance of their agencies.
Addressing the figures, R3 partner Seema Punwani, said it illustrates the rapid change facing marketers in the region as they grapple with combining data, technology and marketing.
“It does show the way things are changing so quickly,” she told delegates during a debate on the Future of the CMO in Asia. “It feels that no-one can say I am completely prepared to face the future when it comes to marketing.”
Referring to the dissatisfaction over the convergence of tech and data, Punwani said it partly reflects the differences of opinion in the workforce.
“It goes back to the fact that things keep changing. As new people join the organisation and with so many millennials coming in, the way data and tech is interpreted by old timers like me and millennials is very different,” she said.
But Punwani told the audience not to take the agency dissatisfaction figure “too seriously”, likening it to dating sites telling everyone how better off they would be with another partner.
I would not take this very seriously because usually everyone is always looking for ‘what’s next’ and who is better. It’s like all the different dating apps in the world telling us, ‘there is always someone better out there’.”
“At R3 we always tell marketeers that it’s most important to make partnerships work. In some cases we see ourselves like a marriage counsellor where we help clients as well as agencies come together to resolve any gaps and work together to have a better output.”
Singapore Economic Development Board marketer Dane Lim
Dane Lim, director of marketing and communications at the Singapore Economic Development Board, admitted it was a “challenge” finding the right partner, partly due to the sheer number of agencies.
“We are trying to make sense of how we find the right fit. Five years ago, one or two agencies would be there for the long term.”
Depending on the job that needs to be done and who is best suited to carry out the work, agencies are increasingly selected on a project basis, he said.
“The shift has been quite drastic.”
Andrea Peterson, executive director of destination marketing at Marina Bay Sands, said the days of the “one stop shop” seem to be over.
“There are so many different specialists we need to tap into,” she said.
She added she was “shocked” at how few executives did not feel their marketing strategies were innovative.
“Innovation has to start with getting data, insights and working with your creative partners,” Peterson said. “That small number [of marketers believing they have innovative strategies] was surprising because that is the way we operate here.”
Steve Jones is regular contributor to Mumbrella in Australia and Asia having held the title of chief reporter for several years. He is a journalist with more than 30 years experience and has worked for a number of consumer and trade titles in the UK and Australia
Funny how this marriage counsellor’s default solution always seems to be ‘you need a new partner-let’s call a pitch!’.
ReplyLet’s call it what you truly are R3, ‘Tinder for clients’.
Whilst Tinder-R3 continues to be the match maker (they need to earn their living too), agencies too have transform the ‘client first model’ to ‘let’s sell where the mullah is’ model. Many agencies off late have now ‘adopted’ specific publishers where back door or and arbitrage deals are created to fill the coffers of the agency. The concept of an agency to be agnostic doesn’t exist as advertisers are coerced by such brazen agencies to spend on these ‘preferred’ publishers justified with skewed solutions and partial data.
ReplyIt’s only obvious that the smart advertisers would catch the bluff and reach out to our respected industry Tinders for a new date! Think twice before you swipe to the right again!
what a bunch of nonsense. of course they are not satisfied. this is the most risk averse market in the world, and no one wants to put money where their mouth is. you want convergence of data, tech and marketing – it’s not going to happen with 20k. it’s not going to happen with 50k. you have to invest in it. there’s no shortage of people in the industry who know how to do it, it’s just scared senior marketers who dont have or dont want to spend the budget it takes to actually make this work.
perhaps drop half a million on trying to make it work, and after 18 months talk about whether or not it worked rather than releasing video after video on youtube and saying youre unhappy.
as for these folk being unhappy with their agencies – who is to blame. network agencies talk big and repeatedly fail on anything that goes beyond the realm of what theyve done. clever idea? sure. little trick? can. well shot and beautifully produced video? no problem.
but the second it goes beyond that and what every other market in the world is doing with tech – no network agency has the proper staffing or the mindset to actually execute. maybe stop shopping with the same network shops over and over again and complaining that it isnt working. either that or you force them to hire the right talent, hold them to a proper goal not just video production or “content series”. and if it doesnt work out publicly shame them so they never get the same kind of business again.
put money where your mouth is la. want cheap. want to work with the same group of agency partners. want innovation. want disruption. want want want want. blame everyone but yourself. typical.
ReplyNever a truer word.
“Dane Lim, director of marketing and communications at the Singapore Economic Development Board, admitted it was a “challenge” finding the right partner, partly due to the sheer number of agencies.
“We are trying to make sense of how we find the right fit. Five years ago, one or two agencies would be there for the long term.””
Reading between the lines this means “I can work with anyone I like so will lower the retainer and squeeze the rates – but when the agency struggle to deliver then I’ll just find a new one and then bemoan the fact that finding agency partners is hard”.
Honestly if another brand marketer uses the words “innovative marketing strategy” they should be held to account and explain exactly what they mean by that. BS wrapped in babble served by people who wouldn’t last 5 mins working at an agency. It’s hilarious how they’re 10 years behind agency people and this market is 10 years behind LDN/NYC/SYD but think they’re blazing a trail.
ReplyHaving worked in Asia for a while now, I think the “marketers” need to take a long hard look at themselves. The agencies are only as good as the brief – you put shit in, you get shit out. In my opinion, the fact that the “marketers” generally have no strategy is the issue.
ReplyIf marketers knew what they wanted, they wouldn’t use R3.
How can they justify the spend just to find an agency, its a total waste of money.
The amount of times I’ve sat in a meeting and marketing heads have lapped up absolute nonsense promises and KPI numbers, from some second hand car salesman. If it looks to good to be true its not, use your overly paid brains.
Reply““But as we got bigger it was speed. We do things really quickly, we can turn campaigns around in 24 hours.”
Jesus! No clue whatsoever about how the creative process works. She’d be excellent running a macdonalds drive thru. Better set up your own in-house unit where you can terrorise everyone into doing things at the speed you’re talking about. (Bet it will only attract the really down and out). Quick turnaround is fine for a topical tweet or post but for a campaign?! Insane. The stuff from Grab doesn’t even qualify as advertising…it’s just loud, crude noise. As someone who takes pride in creating thoughtful advertising that doesn’t offend the senses, I would say take your account and shove it.
ReplyIts true. Most of us client marketeers have no idea what we are doing and have zero strategy. The easier way out is to blame our agencies.
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