Some integral factors have major influence on Bangladesh’s transformation into a progressive digital economy. Bangladesh is the 8th largest country in the world (in terms of population) and 5th most densely populated country in the world. 70% of total 16 crore populations are below the age of 35 years, the country has potential of experiencing demographic dividend.
Alongside, telecom and internet penetration has been increasing over the last 15 years mainly spearhead by competing telecom companies. Most of 68 million internet users are mostly using mobile as the primary medium for using internet.
The emergence of young population, rising income and growth of Middle to Affluent Class population, internet penetration and availability of cheap smartphones are making the digital space more attractive. According to the BCG report, the aforesaid group of people are more open towards adopting technological tools for engaging in online transactions. Rise in usage of popular social media platform and popular e-commerce purchase are testament to the prospect of companies in digital space. Today’s new generation of smartphone engrossed tech savvy brand enthusiasts; they are not only leading the change in consumer dynamics in Bangladesh, but are also the ones who are indirectly influencing how brands approach marketing.
Bangladesh telecom companies have made significant progress in connecting the country. Currently, almost 99% of the country is covered by mobile network. Due to decrease in SIM price and talk time, mobile phones have become ubiquitous among the majority of the population. Mobile data usage has also increased massively. Jim Yong Kim, President of World Bank said “The poorest households are more likely to have access to mobile phones than to toilets or clean water.”
Internet usage has proliferated due to slump in price of smartphones. Entry of local smartphone players and cheap Chinese alternatives have made smartphones affordable and accessible to the mass. Although feature phones still retain 70% of the market, smartphone market is growing at a significant pace. Sales of smartphones have almost tripled in the 2Q of 2017 compared to the same period in 2016.
It is quite clear that we are adopting an advanced segment of consumers who are very open towards digital. Consumer presence in social media, online portals, chatting applications and search are also equally representative of the digital presence of brands. Most consumers spend at least 2 hours online either through mobile or other tech and their internet usage also varies throughout the day in surges. Mobile internet usage is close to 95% of all internet usage (source: BTRC) and brands must strongly reinforce their mobile marketing strategies. It is high time for the leading marketers for rethinking strategies to drive growth in this digital and mobile-first era. Adopting a new approach reflective of today’s consumer journey will be a huge part of their success. Leading marketers and agencies should practice their approach to digital and mobile measurement for getting best results.
When we think of today’s advertising landscape, we can see several digital touchpoints eg. Google Display Network, G&R Ad Network, Facebook and so on. Digital campaigns help marketers or advertisers make better decisions by uncovering relevant information at a level of granularity that wasn’t possible before. Digital technology allows marketers to access data more easily and uncover insights more quickly. However, this only works if they approach business problems incrementally — breaking the business needs into smaller, discrete questions. Rather than trying to drive more overall traffic to website, for instance, they need to focus on driving repeat visits within a particularly valuable customer segment. Applying technology to our customer’s product usage data enabled us to improve product recommendation relevance. It’s only one piece of our marketing efforts, but by focusing on a small, particular business problem, we achieved results that made our campaigns more effective. The real magic comes from combining deep customer insights with thoughtful creative and messaging. It’s in this combination of creative thinking and advanced digital analytics, where lies the next wave of marketing innovation.
This is the age of collaboration, and it’s the brands and agencies working together that are going to make the biggest splash, and reap the greatest rewards with all our new digital technologies and data. Art challenges technology, and technology inspires art thus artistry and technology are the backbone of modern advertising.
As consumer behaviors shift, it will be also important to rethink the investments we make in the user experience. Removing friction and bridging the gaps between channels all while treating each customer as a unique individual will be key. Ultimately, creating great digital customer experiences is not solely a product challenge or a marketing challenge. It’s a business opportunity. And those who invest in creating memorable experiences will win users’ hearts, minds, and ultimately goals.
With so much new technology and data, there has never been a more exciting time to be in advertising. We have to keep in mind that of course we want more experiences, more devices, and more touch points but in the end, our needs are the same. Maslow’s hierarchy is still in place. We still want food, shelter, water and sure, internet access might be a part of that hierarchy now. But we bend technology to suit our basic human needs. With all this new technology and data at our fingertips, it’s easy to feel overwhelmed and like we’re losing our way. So, while we’re developing and experimenting, we always need to keep the user on top-of-mind.
Written by
Md. Saidur Rahman Sagor
Senior Manager, Growth, G&R
