The Digital Marketing Economy in the Philippines for 2022
The digital transformation of businesses began years before 2020, but there is no denying that the pandemic has accelerated the growth of online economies and made them extremely competitive. It transformed the way B2B and B2C businesses operated as people’s behaviors shifted from brick-and-mortar to online.
“From search, to review, to purchase, the Filipino audience has rapidly gone digital. Digital marketing services have become widely used by businesses to adapt to the changes caused by the pandemic and the adoption of digital channels has grown from websites, Facebook pages, YouTube channels and even TikTok,” shares Ibarra Villaseran, director of customer services at Truelogic.
In the latest Digital 2022 reports compiled by Truelogic in this annual edition Examining the Economics of Digital Marketing in the Philippines, there are now more than half of the country’s population, or at least 76.01 million, who are Internet users. It grew by 2.1 million users between 2021 and 2022, representing an internet penetration rate of 68% of the total population.
Filipinos between the ages of 16 and 64 spent an average of 10 hours and 27 minutes per day. This number is lower than the Digital 2021 report, which shows internet users in the Philippines spent an average of 10 hours and 56 minutes. The main reasons for using the Internet in the country are seeking information (83.7%), contacting friends and family (81.9%) and finding ways to do things (78.5 %).
To help marketers and digital leaders navigate this new landscape, Villaseran shares some of the big developments coming this year.
- Privacy and Security
When it comes to digital marketing, gaining customer trust and privacy is very important. Security is, without a doubt, the strongest asset that will bring you good results for your business. New privacy regulations, such as Apple’s Privacy Shield and the impending removal of cookies, have reduced the data available for use in artificial intelligence. For Google, he announced the end of cookies used to track Internet users.
- Moving Campaigns
According to video ad tech company Unruly, about 59% of Filipinos like fun, heartwarming and inspirational ads. This shows how the consumer’s buying journey is driven by emotions. Having a good product is no longer enough to have customers, it is also important to make the company’s values known.
- Shorter video content
Attention spans on social media are short, which is why it’s important to rise above the noise and grab attention quickly. Customers are now looking for easy-to-digest content because they are always in a rush. Try to upload videos that should not exceed 60 seconds. This is particularly evident in the growing popularity of TikTok, Instagram Reels and YouTube Shorts.
- Social Media Marketing
Social media remains an important and influential means of reaching potential customers for many businesses in the Philippines. About 39% of Filipinos check social media before doing anything online and spend an average of 4 hours and 6 minutes using it every day. This shows that a significant portion of active social media users can meet your business at a certain time every day, giving you more opportunities to promote your brand.
- Influencer marketing will be more important than ever in B2B
Influencer marketing is popular these days because of the ability of content creators to attract people and influence the buying decisions of their followers. According to AnyMind Group’s “Influencer marketing in the Philippines-Market overview 2022”, they saw a 19.66% increase in the total volume of social media influencers in the Philippines. Most of these personalities have huge followings and loyal followers. It increases conversion rates outside of a company’s physical location and website.
“With the latest digital marketing trends, it can help your brand adapt to the ever-changing business world. It is currently experiencing crucial changes that can make or break the business of large-scale traders,” Ibarra points out.
“It’s definitely worth exploring some of these trends like SEO and social media marketing to increase your brand visibility and increase your long-term revenue. Finally, given the more ubiquitous role that digital marketing now plays in everyone’s life, it’s more important to always be on the lookout for the latest in the industry,” he adds.