Brand Strategy in the Philippines: Is Your E-commerce Strategy Ready for the Boom?

Are you ready to ride the wave of economic optimism in the Philippines? With the sun shining on a new era of growth, it’s time to reassess your brand strategy in the Philippines and make sure it’s beach-ready for the coming season. How can you ensure your brand stands out in this dynamic market? The Rise of a New Era in Performance Marketing The marketing landscape in the Philippines is undergoing a significant transformation, much like the unpredictable yet hopeful British summertime. With a new government promising change and positive economic indicators such as growing consumer confidence and decreasing inflation, the mood is ripe for growth. This optimism is reflected in the robust marketing budgets, with many brands eager to capitalize on the favorable conditions. The Need for a Fresh Approach However, as we move into this promising era, it’s crucial to understand that performance marketing today is vastly different from what it was a few years ago. Brands have often been stuck with outdated strategies, clinging to bottom-of-the-funnel tactics amidst economic challenges and budget cuts. This has amplified problems rather than solving them.  Embracing Full-Funnel and Social-First Strategies As we approach the crucial Q4 period, the e-commerce landscape is marked by rising customer acquisition costs and a decline in brand search visibility. To navigate these challenges, brands in the Philippines must focus on targeting new audiences and rapidly building brand preferences. The traditional reliance on search as a standalone strategy is no longer sufficient. According to the latest Readout report, which analyzes global data from over 40 e-commerce brands, cost-per-click pricing has risen by 49% year-over-year, putting additional pressure on search-dependent strategies. The Power of Social Media Progressive advertisers who have invested in building their brands through social media are reaping the rewards. The new, effective approach to online marketing is both full-funnel and social-first, from initial brand awareness to closing a sale. This method relies on continuous experimentation and cross-channel creative rotation. Meta’s Impact Meta (formerly Facebook) has seen a staggering 4.2x year-over-year increase in awareness campaigns, with a 57% increase in average ad spend across its platforms. Brands that run awareness or traffic campaigns alongside performance campaigns on Meta have seen a 20% year-over-year boost in return-on-advertising-spend (ROAS), compared to a 7% decline for brands that solely rely on performance campaigns. Reels, Meta’s short-form video feature, is taking up a larger slice of ad budgets as advertisers connect with the growing number of consumers who consume media primarily through short-form videos. Ad spend on Reels has increased by 2.4x year-over-year, accompanied by improvements in engagement and a 23% decrease in traffic costs. Brands that fail to recognize the importance of this platform must adapt quickly. The TikTok Phenomenon TikTok, once the new kid on the block, has now become a powerhouse for driving sales. The conversion rate for conversion objective ads on TikTok has seen a 51% increase for two consecutive quarters. Despite potential regulatory challenges in the US, TikTok remains a crucial platform for e-commerce success. YouTube’s Role in the Funnel Within the Google ecosystem, YouTube offers significant opportunities at the top of the funnel. With clicks-per-minute (CPMs) 20% lower than on Meta awareness ads, YouTube is an effective channel as part of a video-first full-funnel strategy. Leveraging YouTube helps mitigate the impact of rising search costs. Integrating Cross-Channel Strategies Successful advertisers in the Philippines are not using these platforms in isolation. Instead, they are integrating insights and learnings across channels to accelerate performance. This cross-channel integration involves using data from each platform to enhance the overall strategy, ensuring a cohesive and effective marketing approach. Time to Act Brands in the Philippines must wake up from their inertia and adapt their strategies to be social-first, cross-channel, and full-funnel. With Q4 approaching, the time to experiment, plan, and schedule campaigns is now. Brands that act swiftly and strategically will be in the best position to capitalize on the peak season. Final PopStar Tip The economic sun is shining on the Philippines, and the opportunity for growth is immense. By adopting a modern, integrated brand strategy, businesses can ride this wave of optimism and achieve remarkable success. So, is your brand strategy ready for the boom? Make the necessary changes today and ensure your e-commerce strategy is not just beach-ready but poised for unparalleled growth. Send us a message  or contact our Team at contact@pop-star.me for more information on how PopStar can help your digital marketing here in the Philippines.