From insights to baht

How Thai brands are managing to convert data into revenue

While the global conversation is dominated by AI and its transformative potential, the recent Martech Summit in Bangkok illuminated a more immediate priority for Thai businesses: Data as Currency. Across the board, industry leaders at the event agreed —rich, qualified data is the key to winning in today’s competitive market.

Moderating a panel on ‘Data Monetization’ at the summit, I witnessed a shared commitment to data-driven strategies to drive growth. The consensus among Thailand’s marketing leaders is clear—those who master the art of data monetization will unlock new frontiers of profitability.

Data-Driven Personalization drives Profits

Thailand’s digital economy is surging, with e-commerce projected to reach THB 1.6 Trillion by 2027, second only to Indonesia in ASEAN. Thai consumers grow more discerning and expect increasingly personalized experiences to open their wallets. A recent MoEngage study revealed that over 68% of consumers expressed dissatisfaction with brands that fail to personalize interactions—an clarion call for businesses to enhance their customer experiences powered by data.

Proactive marketing teams here in the market have taken cognizance of this need and have started building robust First-Party Data sets that help drive Personalized marketing. And it is yielding results. One notable success story from the summit highlighted a 14% increase in customer lifetime value (CLV) achieved through data-driven personalization.

Thai brands, particularly in consumer-facing sectors, enjoy a unique advantage: relatively high levels of consumer trust. In sectors like insurance, 60% of Thais are willing to share additional personal data for more personalized experiences. This has enabled many brands to advance their data strategies with fewer ‘data trust’ hurdles compared to their regional counterparts.

Tailored Frameworks for a Complex Landscape

A key takeaway from the summit is that data monetization is not a one-size-fits-all proposition. Success depends on custom frameworks tailored to the unique needs of each business and its stakeholders. Whether it’s driving short-term transactional gains in a vertical like retail or enabling long-term relational growth, crafting a bespoke data framework is essential for success.

In B2C verticals, agility is crucial for optimizing omnichannel experiences. For instance, online retail brands that focus on providing personalized recommendations across customer touchpoints have seen significant revenue gains. This was attested by multiple panelists at the summit. Conversely, in industries with longer sales cycles, such as real estate, data is actively being used to empower sales teams with insights, enhancing high-touch interactions and guiding clients through complex decision processes.

The event’s attendees showcased diverse revenue-driving strategies, emphasizing the need for customized data frameworks tailored to each business's unique dynamics, with first-party data at the core of sustainable growth.

Governance and Compliance: Turning Obligations into Opportunities

As Thailand steps up its data governance with the Personal Data Protection Act (PDPA), marketing leaders agreed that they are facing both challenges and opportunities. Compliance is no longer seen as just a regulatory requirement—but as a differentiator in building consumer trust.

Several leaders at the summit shared their proactive strategies for PDPA alignment highlighting the implementation of stringent data governance mechanisms. Companies adopting robust privacy and security policies—some even having stringent access protocols (so much so that even their investors cannot touch it) —are setting new standards in consumer trust. Such practices not only ensure compliance but also position Thai businesses as frontrunners in data privacy in the region.

The Path Forward: Data Diligence and Knowledge as Catalysts for Growth

One attendee’s sound byte aptly captured the essence of the summit in Thai…ขยันเป็นทุน ความรู้เป็นกำไร ("Diligence is capital, knowledge is profit"). In the context of data monetization, this translates to diligent data management and the strategic application of insights to drive revenue.

Thailand is uniquely positioned to lead the region in this transformation. The establishment of the Big Data Institute underscores the government’s commitment to leveraging data as a national growth driver. As businesses align their strategies with this vision, the opportunities for data-driven innovation and growth are vast.

If the signals coming out of the summit are any indication, the journey from insight to baht is no longer a future ambition—it’s a present-day imperative. It was inspiring to realize that Thai businesses are enthusiastically leading the way.

This article is a reproduction of what was published in the Bangkok Post by the same author.