Are you a technology vendor adrift in the vast ocean of the Asia-Pacific (APAC) market? If so, you’re certainly not alone. With a flood of retail technology products surfacing to the market, how do you fight the current and make a splash with your brand?
APAC region remains buoyant
After the shock of the pandemic, which many firms pull back on software spending, APAC has rebounded strongly. A recent Forrester forecast report predicted APAC tech spending will grow by a Compound Annual Growth Rate (CAGR) of 6.4% to 7.4% per year from 2024 to 2027. With ever more tech vendors entering the APAC market, the focus is now on sharpening points of difference and unlocking new productivity gains through AI and automation.
How do retail technology vendors ride the APAC marketing wave?
At the recent Online Retailer Expo in Sydney, AZK Media managing director Azadeh Williams asked retail technology vendors about their focus on cutting through the noise of the APAC market. Let’s dive into what they had to say!
The interviewees all made much the same point in different ways. That is, tech vendors need to ensure they are promoting their value proposition, targeting the right audience and fostering brand awareness in innovative ways. Here’s a rundown of the key takeaways:
Hugh Russell-Parsons, Strategic Partner Manager APAC at Gorgias
The true differentiation in the crowded retail technology market comes from a deep comprehension of customer needs. Standing out requires listening to a customer and understanding the issues they face. Adopting a customer-centric approach where businesses iterate on their products based on feedback delivers genuine value. Success is not about competing on price or pursuing growth at all costs, rather it is about solving unique customer problems with empathy and precision.
Zach Hotchkiss, Regional VP APAC at Attentive
Generational shifts are reshaping communication channels. My daughter and her cohort of Gen Z are increasingly moving away from email to apps and SMS for their communication and purchasing needs. This shift underscores the growing importance of leveraging SMS marketing and other modern channels to engage with today’s digital-native consumers.
Kehan Vale, APAC Growth Director at Reviews.io
It is a competitive space in the APAC arena. A crucial component of success is being able to drive your innovation by solving customers’ needs. This involves concentrating on finding your niche and forging stronger connections with your target audience, rather than focusing on out-shining your competitors.
Mark Baartse, Outsourced CMO
The APAC region is a saturated market, and with it, poses complex challenges. There are many companies out there – not just in retail technology, but across a vast array of industries – that fail to follow basic marketing principles, such as clearly defining their value proposition in order to distinguish themselves above the crowd. In today’s modern and fast-paced era, innovation and a unique value proposition are essential for building brand recognition. While established companies may rest on their laurels, startups often bring fresh perspectives, contributing to the market’s dynamism.
Ivan Logan, MD and Founder of Omnivore
With APAC’s nuances – that span from a wide spectrum of beliefs, cultures and behaviours – it is important to drill down in addressing the unique needs of the Australian retail landscape. While many integrators offer general solutions, Omnivore focuses on marketplace characteristics specific to Australia and New Zealand. This tailored approach better addresses the local challenges and provides more relevant solutions for our clients.
David Espitia, Account Director at Queue-it
Although Queue-it is well known in the US, there is a challenge of increasing visibility in Australia. Queue-it's success lies in fostering relationships and building brand awareness to communicate the value of our solutions effectively.
Samved Shankar, Sales Executive at Zoho
Vocalising your ideas for the world to see is always a challenge, yet crafting compelling messages and reaching the right audience are central to building brand recognition and driving engagement. The e-commerce and retail tech industries are marked by rapid change and intense competition. To thrive, businesses must listen to their customers, adapt to shifting communication preferences, focus on core products that resolve problems, and clearly articulate their value propositions. Specialisation, local market understanding, and innovative marketing strategies are also crucial for standing out and achieving success in this dynamic landscape. By embracing these insights and strategies, companies can navigate the complexities of the industry and build a strong, differentiated presence in the market.
Navigating a rapid evolving market
The e-commerce and retail technology industries are marked by fast change and fierce competition. To surf above the crowd, businesses must:
Listen to customers: Understand and adapt to their needs
Adapt to communication shifts: Embrace new channels and technologies
Focus on core products: Innovate based on real problems.
Articulate value propositions: Clearly define what sets you apart.
Target and localise: Tailor your approach to specific markets within the APAC region.
By integrating these strategies and insights, you can navigate the complexities of the APAC market and command a strong, distinctive presence.
Authored by Jessica Phillips (Poulter), Senior Social Media and Communications Specialist at AZK Media.
At AZK Media, we specialise in helping global retail technology companies get noticed in new and emerging markets. We make driving your growth, our business. Contact us today to see how we can strengthen your expansion efforts.
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