The rapid migration to digital technologies driven by the pandemic has done little for digital experience (DX) maturity in the ASEAN region, according to a new report by Sitecore, Ecosystm and AKQA.
The report reveals that while Singapore has a relatively high digital experience maturity, the region as a whole is overall lagging behind the rest of the globe with a score of two out of five. The reason for this is due to not having realised the full potential of their marketing technology stack. Due to being a core financial and investment hub, it is no surprise that Singapore has been keeping up in the latest digitalisation and experience trends.
The report rated DX maturity based on Sitecore’s Digital Experience Maturity Model (DXMM) which assessed organisations’ current capabilities on a five-stage digital index – ranging from organisations that are at the beginning of their digital experience journeys to those that set the benchmark that other businesses aim to achieve.
According to the index, banking, financial services, and insurance (BFSI) providers tend to have the highest level of maturity, with 40 percent scoring a 4 or 5; while retailers have done quite well across the region. Both manufacturing and government bodies are noted to have a little catching up to do with regards to digital maturity.
“Southeast Asia will be home to 310 million digital consumers by the end of this year, and their readiness to use technology presents tremendous opportunities for businesses,” said Nick Boyle, Vice President, Asia, Sitecore.
Of the factors contributing to digital maturity, businesses in the region are strongest in driving robust executive vision and organisational strategy; and in their people and process strategies. However, these efforts are often slowed down by gaps in their marketing technology stack.
The findings illustrate digital adoption efforts in the region with many bright spots, including more investments in building experiences that are not only easy and effective but also memorable to earn the loyalty of customers. Businesses also show a greater propensity to invest in data driven decision-making, optimisation, and marketing technology (martech) to improve their DX maturity levels.
