Kickstarted in November last year, the Big Leap Roadshow is a collaborative event between e27 and CleverTap, the World’s number 1 Retention Cloud trusted by 2000 customers. Since then, the Roadshow has been touring major cities across Southeast Asia, the only platform of its kind for hundreds of business leaders, venture capitalists, entrepreneurs, and industry experts to come together and discuss the future of customer retention and engagement. 

On February 9th, 2023, the Big Leap roadshow is coming to Kuala Lumpur, Malaysia, with the goal of sparking insightful discussions on actionable strategies and best practices for building strong customer relationships, reducing churn, and maximising customer lifetime value.

The event in Kuala Lumpur promises to be both informative and exciting, especially being the capital of one of Southeast Asia’s fastest-evolving and most prosperous business landscapes with a digital economy set to be worth US$35 billion (RM156. 1 billion) by 2025, and demonstrating unique customer demands for businesses in the country and nearby regions. 

Malaysia’s vibrant scenes in the digital economy

Following the COVID-19 pandemic, the push towards heightened digitalisation processes has accelerated in Malaysia, signalled by the Malaysian government’s incentive programmes to realise the national digitalisation objectives that include the launch of GovTech and MyGovCloud and its 5G network.

Malaysia has been ranked as the 2nd most digitally advanced country in Southeast Asia on Huawei’s Global Connectivity Index, being ahead of some developed economies such as Hong Kong and Singapore in some sectors such as banking and e-commerce. Moreover, many training sessions and digital literacy workshops are also offered through the Malaysia Digital initiative by the government for digital upskilling for all interested Malaysians.

Also read: Building resilience through the SAFE STEPS D-Tech Awards

As such, experts see Malaysia as an upcoming regional digital hub, attracting major global tech players, data centres, and digital infrastructure service providers to the country. According to CEO Mahadhir Aziz of Malaysia Digital Economy Corporation (MDEC), Malaysia expects the digital economy to contribute 25.5% to the country’s GDP by 2025, creating 500,000 new jobs and granting internet access to almost every household. With all these developments, businesses across the country have the unique opportunity to bolster their products and services. Moreover, they can explore ways to better engage their customers in ways that inspire loyalty and retention.

Additionally, thanks to the fast-growing digital infrastructure and ecosystem, Malaysian customers can enjoy better e-commerce services and complete access to an online learning environment. This is why initiatives such as the Big Leap roadshow that seeks to tackle important business challenges on customer retention and engagement are more important than ever.

Malaysian founders must harness leadership to drive business growth 

Nevertheless, to stay competitive in the digital world, business leaders face the need to have flexible leadership styles that address new responsibilities and growth challenges. In regular time, business leaders are typically those who set the organisations’ vision and mission, propose business strategies to meet their companies’ objectives, devise the processes and procedures to manage internal and external relationships, motivate and inspire the organisational members to go above and beyond and oversee the implementation of the initiatives.

To lead in the digital-first business landscape, the imperative for business leaders to spark digitalisation efforts has become even more critical. Businesses must adopt a holistic approach towards digital transformation in all aspects of the business, starting from processes, domains, business models, and other organisational transformations.

Throughout the whole process, leaders must act as an architect and catalyst to initiate and sustain digital transformation, taking advantage of newly arisen digital business processes and tools to enhance efficiency, appealing to technologically savvy young talents, and becoming attuned to leading in a virtually connected world.

A multi-channel approach to customer engagement

With digital transformation at the heart of the Malaysian startup ecosystem not only as a response to pandemic recovery but also as a longstanding commitment made well before COVID-19, Malaysian businesses must adopt a multi-channel approach to customer engagement, utilising technologies to improve customer experience and embracing new strategies to maximise customer lifetime value. 

For example, in the context of online purchasing, the customer journey has evolved to take place over multiple digital touchpoints, searching for purchase inspirations via social media applications, researching about the products from their mobile browsers, conducting the transactions digitally with cashless payment options, and having the products delivered to them right at their doors.

As such, businesses need to make it easier for customers to switch between different channels and platforms, both online and offline if they want to guide consumers across omni-channel platforms.

Also read: The future of sustainable growth according to Dagangan

Nevertheless, with the rise of digital technologies, there are also more tools at the business’s disposal that can help them gain more understanding of consumer behaviour, enabling them to design the most desirable products, services, and shopping experiences optimised for customer satisfaction.

For instance, thanks to the availability of big data and data analytics, businesses can obtain unique insights such as customers’ journeys, their gratification points and pain points, purchasing habits and preferences to keep them engaged and motivate their decision-making process. Another scheme to maximise customer lifetime value is through a loyalty programme which rewards customers loyal to the business. The loyalty programmes become even more valuable as they are provided digitally, enabling customers to communicate openly with the businesses, keep track of their earned points, and access their benefits.

Hear it straight from experts at ‘The Big Leap’ Roadshow in Malaysia

With much excitement over the thrilling business landscape in Malaysia, CleverTap’s Big Leap Roadshow is poised to provide valuable advice from competent experts and growth leaders. These industry insiders will be providing key insights into building strong customer relationships and maximising customer lifetime value.

From understanding customer needs in the digital era, to creating a strong customer experience, and even using data analytics and loyalty programmes, the Big Leap Roadshow Malaysia’s central theme: ‟Retention Playbook Malaysia: How to engage and retain customers in a rapidly evolving market‟ will cover all the key elements of successful customer retention, customer engagement, and monetisation.

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Whether you are a small business owner or a marketing professional, the Retention Playbook Malaysia will be an essential resource for building valuable, long-term relationships with your customers in today’s competitive market.

Learn from industry experts across various sectors on how they have created magnetic experiences to grow customer retention and go from good to great.

To sign up for the event, click here. 

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This article is produced by the e27 team, sponsored by CleverTap

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