2024 Business Technology Trends in Thailand

This post is also available in: Thai

Summary of my keynote from the Adman 2023 Event

“As a consultant for various business organizations across multiple industries, I have found that Thai consumer behavior (Thailand Consumer Behavior) is distinctively different from other countries. Currently, I have observed several key behaviors, which include…”

  • “Short Video Consumption: Thais tend to favor and share short videos on platforms like TikTok, Instagram, or Facebook, reflecting a preference for quick and concise content consumption.
  • Multi-Channel Shopping: Thai consumers prefer shopping through both online and offline channels for convenience and price comparison.
  • Fast Delivery: Rapid delivery is a key expectation, as Thai consumers desire immediate receipt of their ordered products.
  • User-Generated Content: Thais place importance on content created by users, such as product reviews or sharing personal experiences, which influences others’ purchasing decisions.
  • Entrepreneurship: People are eager to own businesses and aspire to grow and succeed in their ventures. Most are looking for opportunities to expand their own ideas.
  • Direct-to-Fan: There’s a trend in marketing and selling products directly to consumers without going through agents or retailers, reflecting how Thai producers or creators reach their fans.”
  1. AdTech Evolution: Technological advancements are transforming advertising, enabling more targeted customer reach and precise marketing analytics.
  2. IOT & AI Devices: Devices with AI capabilities and connectivity are allowing businesses to gather data and enhance user experiences.
  3. Chat Bot & Virtual Assistant: These tools enable businesses to offer 24/7 customer service, reduce customer service costs, and increase customer satisfaction.
  4. Multi-Platforms Commerce Technology: Technology that facilitates multi-platform commerce, reaching customers across various channels, positively impacting sales and brand awareness.
  5. Affiliated & Creator Economy: Technologies for creating affiliate revenue systems and content creation open opportunities for creators to generate income.
  6. Modernize Data Stack for Marketing: A modern data system helps marketers collect and analyze detailed data for quicker decision-making.
  7. Unify Customer Data Strategy: A unified customer data strategy helps businesses understand their customers better and deliver more personalized experiences.
  8. AI-Enabled Workflow: Implementing AI in workflows automates processes, reduces errors, and increases efficiency.”

AdTech Evolution

The Return of Out of Home Media (OOH): There’s a resurgence of outdoor advertising using digital technology, allowing for content that can change in real-time and target specific audiences. Additionally, the control of Digital Signage through the Cloud makes managing digital billboards (digital signage) easier, enabling remote content updates and configuration

Digital Signage Control from Cloud https://www.yodeck.com/how-it-works/

Advertising Distribution & Optimizationautomatically adjust advertising campaigns, such as: Automatically turning campaigns on/off based on the performance of the ads, or altering the budget according to the results of the advertising
AI Ads Optimization Madgicx : Signup Here

Creative Insight : The effectiveness of creative content can be measured through data analysis, helping to understand the use of images and colors for deeper creative efficiency. Tools like Adcreative.ai have the capability to measure the effectiveness of design work : Signup Here

Assistance from Generative AI: AI capable of creating content (Generative AI) has become a powerful tool for automatically generating creative advertisements and content

Example : five sample ad copies for a Facebook post promoting a hotel located on Patong Beach in Phuket

IOT & AI Devices

The advancements in IoT (Internet of Things), Wearables, and AI Devices have significantly changed the way we connect and interact with technology. These developments have an impact on customer data collection and new advertising models as follows:

Customer Data Collection Channels: IoT and wearable devices help gather valuable data about customer behaviors and preferences, which can be analyzed to enhance sales and improve user experiences.

The use of display screens on vending machines is an example of new advertising that utilizes hyper-personalization, showing content relevant to the customer’s purchasing behavior or interests.

Personalization in Offline Communication: The use of technology in offline stores, such as kiosks where customers can customize products themselves, creates a more personal and individualized experience

AI Pin: A new device that could supplement or replace the use of smartphones in certain situations, such as wearable devices capable of interacting with AI and instantly connecting to the internet.”

Chat Bot & Virtual Assistant

OpenAI Makes Creating Bots Easier: Technology from OpenAI simplifies the creation of chatbots, enabling them to learn and adapt themselves to answer questions or perform various tasks.

Rule-Based to NLP: Transitioning from rule-based systems to using Natural Language Processing (NLP) allows chatbots to understand and respond to complex queries more effectively.

Using Chatbots for Sales Closure Combined with Payment Capabilities: Integrating payment options with chatbots enables them to assist directly in closing sales and offer a variety of payment options to customers.”

GPT-4, or Generative Pre-trained Transformer 4, in the context of Knowledge Management (KM), refers to the application of this advanced AI model in managing and facilitating the creation, sharing, and utilization of knowledge within an organization. GPT-4, with its sophisticated natural language processing capabilities, can assist in automating the organization, retrieval, and synthesis of large volumes of information, thereby enhancing the efficiency and effectiveness of knowledge management processes. This can include tasks like generating summaries from extensive documents, providing answers to complex queries, and even assisting in decision-making processes by offering insights derived from a vast corpus of data.

Multi-Platforms Commerce Technology

Today, businesses are expanding their sales across a variety of channels, including websites, mobile applications, social media, e-commerce platforms, and even offline markets. Order management technology thus facilitates multi-platform commerce, increasing customer reach across different channels, positively impacting sales and brand recognition.

Content Distribution & Scheduling: This tool is used for efficient management and dissemination of marketing content. It allows for the creation, storage, and management of content in one place, making it easier to access and update. Additionally, it enables automated scheduling of content distribution across various channels such as social media, blogs, or websites.”

MarTech Stacks Integration
This refers to the management and integration of Orders and various Channels. It encompasses the consolidation of customer communications through chat and sales via chat, the use of Chat Bots for automated responses, leveraging advertising platforms to attract customers, and analyzing marketing outcomes for decision-making. It also involves integrating an Order Management Platform with inventory management, and the use of ERP systems to integrate data and processes within an organization.”

Affiliated & Creator Economy

Affiliate Marketing Frameworks from “50 Marketing Frameworks” Book

Affiliate Marketing : involves a performance-based model where partners or affiliates are rewarded for generating sales or leads. The compensation is usually a percentage of the sales made through the affiliate’s efforts. This model aims for a win-win situation where both the marketer and the partner benefit from successful sales. The document also mentions tools like ‘Cake’, a performance marketing software, which facilitates effective affiliate marketing strategies with smart insights and reporting capabilities​​.

Affiliate Marketing increasingly plays a role in the Creator Economy, key developments include

Modern Direct Sale System : In the Creator Economy era, content creators don’t need to stock products themselves. Instead, they can promote products through online platforms and earn commissions. Anyone with a fanbase can earn extra income: Individuals with a fan following can generate income by promoting products or services without needing to stock them themselves

Modern Star Modeling System – TikTok MCN: TikTok and Multi-Channel Networks (MCNs) offer opportunities for content creation and distribution that can generate revenue through partnerships

Modernize Data Stack for Marketing

This modern data system not only stores basic customer information but also tracks various forms of engagement. This includes interactions such as clicks, likes, shares, comments on social media, time spent on web pages, and responses to marketing campaigns. By analyzing this engagement data, marketers can gain deeper insights into customer behavior and preferences, allowing for more targeted and effective marketing strategies

Capturing Engagement Data: The ability to analyze and store engagement data from customers, such as clicks, views, or interactions on social media, is crucial for understanding customer behavior and interests more deeply. This data enables the refinement of marketing strategies to better suit the target audience. By capturing these engagement metrics, businesses can gain insights into what captures their audience’s attention and drives interaction, allowing for more effective and targeted marketing efforts.

Retrieving Data on Ads Settings: Collecting data on the performance of advertisements, including their settings and the tactics used in ad campaigns, is vital for analyzing the effectiveness of different strategies. Having accurate data allows for the optimization and innovation of advertising methods. This involves understanding which aspects of an ad campaign are working well and which are not, enabling marketers to make data-driven decisions to enhance the campaign’s overall performance.

Data Warehouse Designed for Advertising: A data warehouse specifically designed for advertising purposes facilitates the systematic storage, analysis, and access of data related to advertising. This specialized data repository ensures that all relevant advertising data is organized and readily available for analysis. The insights derived from this data help in making informed decisions and improving advertising campaigns. It allows for a comprehensive view of advertising efforts and their outcomes, enabling more strategic planning and execution of marketing initiatives

Strengthening Agency’s Own Position : Having a modern data system for marketing enables agencies to offer superior and distinct services compared to their competitors. The ability to analyze data in detail and possess deep insights allows for the creation of effective campaigns and building strong customer relationships. This advanced data capability not only enhances the agency’s strategic planning but also provides a competitive edge in delivering personalized and impactful marketing solutions. By leveraging precise data analytics, agencies can tailor their services to meet the unique needs of each client, thereby reinforcing their market position and reputation as leaders in data-driven marketing strategies

Unify Customer Data Strategy

Unify Customer Data Strategy” refers to the approach of integrating various customer data sources into a single, cohesive framework. This strategy is crucial for businesses aiming to gain a comprehensive understanding of their customers

Identifying Drop-Off Points: This involves tracking the customer’s journey through the e-commerce website to pinpoint exactly where they are leaving. Common drop-off points include the product page, shopping cart, and during the checkout process.

Analyzing Reasons for Drop-Off: Once the drop-off points are identified, the next step is to understand why customers are leaving. Reasons could include website navigation issues, unexpected shipping costs, required account creation, lack of payment options, or slow loading times.

Cross-Platform Identification: This process involves tracking and analyzing customer behavior across different digital platforms (like social media, e-commerce sites, and apps) to identify them as the same individual. This is often achieved through data points like login information, device IDs, and browsing patterns.

Enhanced Customer Understanding: By successfully identifying a customer across multiple platforms, businesses gain a comprehensive view of that customer’s preferences, behaviors, and needs. This leads to more personalized marketing strategies and improved customer experiences.

Utilizing Insights for Campaigns: Insights gained from this analysis are then used to tailor and improve future marketing campaigns. This ensures that campaigns are more targeted, relevant, and effective in achieving desired outcomes.

AI-Enabler Workflow

AI-Enabler Workflow is a process that allows businesses to effectively leverage Artificial Intelligence (AI) across various organizational functions. It aids in creating and customizing graphic designs, assists in content creation planning, and helps in checking for grammatical errors and language usage in documents.

  • AI-Enabler Manual: A guide that demonstrates how to utilize AI in various work processes.
  • Photography and Editing Process: Steps in capturing images and the process of editing photos using AI.
  • Camera Setup: Configuring the camera settings for optimal photography suited for AI processing.
  • Dicut Photography: The process of taking photos using Dicut techniques, which may include editing or separating objects from the background.
  • Background Alteration: The process of changing the background of an image using AI.
  • Category-based Themes: Organizing image themes into relevant categories using AI.

Sample intelligent document processing with generative AI from AWS

For more information

👉 50 Marketing Frameworks
👉 The Age of Chief Marketing Technologist 2022
👉 Marketing Technology Trend 2022 

Fine more information about my book
Jittipong Loespradit
Add me
Latest posts by Jittipong Loespradit (see all)

Similar Posts