Believe it or not, Malaysia is one of the top locations when it comes to setting up a business. Its strategic location in South East Asia makes it a perfect spot for manufacturers and advance technology types of businesses to operate and it’s no wonder why there are lots of top brands that can be found in this country. As one of the most technologically developed countries in ASEAN region, it boasts a high and rapid economic growth.
With its growth in economy and technology, top companies in Malaysia are on a tight race when it comes to executing their marketing initiatives. And that brings birth to small business enterprise who are willing to adopt what the giants are doing with their marketing strategy and apply it on their own.
Looking closely with the top brands, small and medium businesses can learn much about their approach in marketing. With that said, here are some of the most important marketing lessons from top Malaysian brands.
Innovation is the key to serving the people – PETRONAS
PETRONAS is considered as the top brand in Malaysia based on Brand Value. They are the top company that supplies petroleum products in the whole country. Their marketing efforts are more focused on innovation. With billions of dollars spent on exploration and product development, this petroleum giant earned its reputation when it comes to developing petrochemical products.
Spending a huge amount of money for innovation is not really necessary. Creativity and filling the gaps between a certain product or services and the audience opens a new opportunity for innovation.
Adopting to the demand of the market – Genting Malaysia
Leader in theme park and hotels development, Genting proves itself as the number 1 when it comes to adopting to the demand of its target customers. As the theme park industry in Malaysia continues to grow and evolve, Genting focuses its marketing efforts in knowing what their target audience needs, and that leads them to continuously develop their approach when it comes to theme park and hotels development.
If a business wants to thrive and be on top of the competition, adopting to the market trend is very important. It is not only evident in Malaysia, but all over the world. Every business must be able to adjust whenever there’s a shift of interest in their industry.
Marketing Automation will be the face of digital realm in the future – YTL Group
YTL Group is the largest conglomerate in Malaysia that comprises of different business units in different industries. It is also the top 4G internet service provider in the country. According to PR News Wire, the company has partnered with ResultClicks, a marketing automation platform to improve YTL’s customer engagement in both digital and offline markets.
Marketing automation can be expensive, but there are free utility tools that can be used in marketing automation not only for selling and upgrading products. Automation can also be applied for internal operations such as payroll, invoice sending, staff management and a lot more. The main point of this is to ease the hassle when it comes to business growth, and automation can be of big help in a lot of ways.
Strategic partnerships is a two edged sword that brings profit to both parties – Sime Darby
Sime Darby, a diversified giant in agriculture, construction, logistics, and motor industry has proven many times that partnership is still the best marketing strategy. The company has ventured to different industries with the help of their partners in Europe and Asia. That led them to expand the business by leaps and bounds.
Partnership is not only limited to big companies like Sime Darby. It can also be applied to every business in different industries. And with the advancement of the internet, it is now easier to have partnership with other businesses through social media and other digital marketing channels.
Digital Marketing is the future – Maybank
Maybank (Malayan Banking Berhad), the largest retail financial service provider in Malaysia saw a significant change with the way people interact with banks. The observation suggests that more and more Malaysians are getting into online banking and do most of their transactions through the internet. That led them to bring up their digital marketing efforts to new heights as they plan to put more force in their digital marketing initiatives in 2020. The bank’s digital strategy started when they revamped the site to make it mobile and tablet friendly to accommodate the needs of their customers. They also started interacting through social media in Asia Pacific and called it “social strategy maturity” model. This opened a lot of opportunity for Maybank to expand its financial and banking services dramatically.
Digital Marketing is now a vital factor for every business across the globe. In fact, all of the aforementioned brands in this article establish their online presence through different digital marketing channels – SEO, Social Media, Email Marketing, blogging, and other forms of internet marketing platforms where they can showcase their products and services. The same case applies for small to medium businesses. Digital marketing is not expensive as traditional marketing, in fact it is sometimes free and can make a difference between the success and failure of a business.