Trendsetters: Asia's CMOs Embrace Complexity to Reach 57% of World's Consumers, According to R3's Greg Paull

Today, four billion of the world's seven billion people live in Asia, and over the next several decades, the region will grow by another billion.  Asia currently accounts for some of the global economy's strongest growth and many brands are realizing both the vast potential and extraordinary complexity of such a large and varied consumer market. 

In fact, 41% of CMOs in Asia say that "managing in an increasingly complex business landscape" is their greatest challenge, according to a new book titled, Asia CMO: Driving Brand Growth.  Written by the Principals and Co-Founders of global consultancy R3-- Shufen Goh and Greg Paull-- the book examines best practice in marketing effectiveness in Asia through interviews with the region's top CMOs, along with R3's own insights from over 14 years of marketing consulting in the region.

Perhaps Mie-Leng Wong, International Brands Director of Tiger Beer & Heineken Asia Pacific Breweries, summarizes the Asia marketing experience best in Asia CMO.  "Asia-Pacific is very competitive and things move very fast. The biggest challenge is to stay ahead of the curve and to know what is really happening in the outside world, in the digital space and culturally."

The book identifies five growth catalysts that are enabling brand growth in Asia: 

• People  -  Talent is the true competitive advantage in the region, and "right brain thinking" is a new phenomenon in Asia.  The leading companies have invested in "sea turtles" who are returning from study or work experience in the west to bring a truly global perspective to Asian marketing.

• Digital Technology  -  Countries with unique digital ecosystems like China, Korea and others have strong services and platforms that have surpassed technology now in place in most western markets.  Alibaba and Tencent's payment apps in China have already completed more than $3 trillion of transactions at a time when other markets are barely embracing mobile transactions. 

• Market Competition -  Powerful local players in key Asian markets are disrupting the status quo and creating real change. Go Jek, the on-demand motorbike taxi service that rivals Uber, is one such example.  "What Go Jek is doing in Indonesia is causing sleepless nights with their competitors globally," said Greg Paull.

• Business & Operations  -  Managing marketing campaigns to reach 4 billion people takes logistics and detail.  As Shakir Moin, CMO of Coca-Cola China, states in the book, "The frequency of purchases demands having a daily proposition. A lot of sentiment is happening on a day to day basis, while in China's, case it is happening by the hour."

• Innovation – The future of the CMO role in Asia will need to become more innovation-driven to leverage the rising middle classes and the massive changes in disposable incomes across so many different markets.  According to Erica Kerner, Vice President Marketing and Communications Asia Pacific, Tiffany & Co, "Top management in headquarters often thinks that you can have an Asia strategy. But as marketers working here on the ground, we know that what we really need is to have customer strategies, addressing customers who are going to be different, both within and across markets."

According to R3's Shufen Goh, marketing today is very different from the marketing of twenty years ago, and no less so in Asia. Its function has evolved from beyond just selling to creating social impact, education, inspiration and being the keeper of the brand's message. 

"We believe that marketers have a unique opportunity to help global organizations navigate the dynamic environment in Asia, and to capitalize on the growth potential in the region," said Mrs. Goh. "Asia CMO: Driving Brand Growth seeks to identify the challenges that Asia's CMOs are facing today, and identify what tools the CMO of the future will need to be successful both in Asia and globally."

Published by Rank Books in Singapore, Asia CMO: Driving Brand Growth is now available on Amazon and will be in bookstores globally soon.