SHANGHAI: Spending on data-related marketing services in China is continuing to accelerate, a new report suggests.
A projection from Chinese market researchers Analysys International Enfodesk, reported in eMarketer, indicated that investment into data-driven marketing is set to grow 153.0% in 2015/16 – even higher than 2014's growth rate of 141.9%.
The report expected spending levels in China to break RMB 2 billion (US$325.4 million) this year, for the first time. Growth is expected to at least double year on year to 2018, with investment soaring to reach almost RMB 28 billion in just three years.
As internet connectivity grows in the world's most populous country, data-driven marketing is taking off as brands drive to engage their customers with personalised communications, and build consumer behaviour models.
Asian shoppers are generally more open to brand marketers using their personal data to provide specialized customer experiences than Western markets. In markets like China, this sentiment is providing huge opportunities for brands.
Chinese insurer Ping An, for example, partnered with a data-driven marketing service to glean qualitative and quantitative consumer data from social and search to better target its travel insurance offerings, ClickZ China reported.
Taking qualitative and quantitative research from social interactions and search, Ping An developed seven travel insurance packages built to engage the changing profile of domestic Chinese travellers. Some of the more unusual coverage includes food poisoning cover or altitude sickness cover for keen hikers.
The policies are delivered to relevant consumers on WeChat, the messaging app, as targeted banners running along the bottom of the mobile phone screen when news and other informative pages are viewed by the consumer.
Data sourced from eMarketer, ClickZ China; additional content by Warc staff