A panel discussion on how technology helps improve returns on investment at the CEO & CMO Summit held by the MMA Vietnam in HCM City on September 28. HCM City (VNS/VNA) - With the rapidevolution of technology, enterprises need to find new ways of interacting withcustomers to thrive in the digital age, experts have said.
Speaking at the 2018 CEO & CMO SummitVietnam held recently by the Mobile Marketing Association (MMA) Vietnam in Ho Chi MinhCity, Christy Le, country director of Facebook Vietnam, saidyesterday and today’s worlds are different in interaction points.
In yesterday’s world, there were advertisementsin billboards, magazines or newspapers, stores, word of mouth, and television,while in today’s world, besides these means they also include Twitter,Instagram, trunk show, email, retailers’ communication, blogs, Snapchat, andinfluencer communication, she said.
Digital media is influencing both online andoffline purchases, with mobile being the primary driver, she said.
Since today’s customers tend to interact withbusinesses through multiple channels, integrating online and offlineinteraction with customers can help businesses drive awareness, online sales,store visits and offline sales, she said.
To exploit the opportunity to interact withconsumers, both online and offline, businesses must depend on their database.
“Data is an invaluable resource in the FourthIndustrial Revolution age, with artificial intelligence and machine learning,their impact is even bigger.”
Vietnamese firms should utilise existing globaltechnologies and data platforms smartly and strategically to createbreakthroughs for their businesses, she said.
Talking about digital opportunities in Vietnam,Konstantin Matthies, a micro-economics expert and engagement manager atAlphaBeta’s Singapore office, said Vietnam has a number of strengths such as arobust app economy, but “there is room for improvement”.
Creating digital talent and guaranteeing aconducive tech investment climate would be key drivers of Vietnam’s success, hesaid.
“It is the responsibility of companies andindustry to engage in open dialogue with policy makers on how to craftprogressive policy and how to best leverage this opportunity.”
Imbedding multinationals as anchors by offeringthe right incentives can boost availability of start-up financing and skillstransfers, he said.
“The digital economy provides significantopportunities across a variety of industries and could potentially be a majordriver of exports.
“Poorly crafted regulations can undermine thepotential benefits of the digital economy.”
Delegates also talked about total audiencemeasurement, how technology help increase return on investment, agilemarketing, how to build competitive advantages in the age of disruption,blockchain and its implications to the marketing industry, latest consumertechnology products that would impact the environment, and other topics.
According to Sinthu Peatrarut, who helmsNielsen’s media business in Thailand, Myanmar and Vietnam, in today’sfragmented media market, it is no longer effective to think of each advertisingplatform as a separate unit within a media plan, requiring businesses to haveaudience measurement in various channels to effectively implement customerinteraction campaigns.
Phan Bich Tam, country manager, Mobile MarketingAssociation in Vietnam, said the CEO &CMO Summit is an annual event being held world-wide.
This is the first time itis being held in Vietnam, and more than 300 leaders andmarketers of large enterprises in various industries in Vietnam took part,she said.
The event provided an opportunityto gather, connect and share experiences among businesses from a range ofindustries that have been using technology tobuild competitive advantages and sustainable business, she said.-VNS/VNA
VNA
