MAM
Digital transformation, not hitting short-term metrics must be the primary role of marketers, say APAC CMOS
MUMBAI: Dentsu Aegis Network’s 2019 global survey of 1,000 CMOs and senior-level marketers in 10 markets – including Australia, China, and Japan in Asia Pacific – highlights a growing challenge for marketing leaders, as they seek to move beyond optimisation and drive business transformation through digital.
Globally, 8 out of 10 surveyed recognise the imperative to transform the business in the face of digital disruption, as well as taking more responsibility for product and service innovation over the next 2-3 years. China, in particular, comes out leading this trend with 98% and 96% of respondents respectively prioritising these areas as key elements of the marketing function.
However, global CMOs are finding it difficult to achieve this vision with ‘Business Transformation’ and ‘Disruptive Innovation’ at the bottom of the list for the second year running in terms of functional priorities, and current capabilities beginning to lag behind future needs as short-term metrics dominate their focus.
Within APAC, CMOs are beginning to lead a shift away from this trend, with China, Japan and Australia ranking Business Transformation within the top 3 priorities for the marketing function today, as well as over the next 3 years. CMOs in China and Japan also notably outperform global counterparts in their expectations for Disruptive Innovation to rise among marketers’ top 3 priorities in the next 3 years, at 61% and 47% respectively, well above the global average of 36%.
Marketing functions risk lagging the digital race as performance gaps emerge
Across a spectrum of marketing capabilities, CMOs were asked what they believe to be important to future success, versus their current ability to execute. The data shows a significant gap emerging between the two:
85% believe creativity is critical to future business success, 54% believe they are delivering well today 83% identify the importance of seamless customer experience and commerce across channels, yet only 60% believe they are developing this capability well But the divide is most stark in data management and analytics, where 84% identify these capabilities as important to future success, yet only 49% are confident in these capabilities today
The divide between existing capabilities in data skills and the importance these skills will have on future business performance is perhaps the greatest risk CMOs must address as the growth of the global digital economy shows no signs of slowing down.
Digital transformation challenges emerge as key barriers in APAC rather than access to long-term investment
Globally, an inability to secure long-term investment is cited as the most significant barrier to delivering on marketing strategy (rated as a top three concern by 50% of all CMOs).
At the global level, the outlook for the next 12 months is mixed with 41% of CMOs reporting budgets as flat or declining, despite growing revenues (64% of respondents reported revenue growth over the same period). China stands out as a rare exception here, with only 17% of CMOs reporting budget as flat or declining (against 87% of same respondents reporting revenue growth for their businesses).
In contrast with their global counterparts, top barriers faced by CMOs in APAC are linked to the challenges associated with digital transformation as opposed to securing long-term investment.
For Australia and China for example, the inability to transform the business quickly enough is the number one barrier to delivering on marketing strategy. Also cited among their top 3 challenges is insufficient control over digital investments or programmes across the company. In Japan, the lack of access to requisite talent emerges as the top challenge.
While globally, two-thirds (64%) say they expect to come under further pressure to demonstrate tangible short-term results, marketers in China (84%), Japan (71%), and Australia (49%) are more likely to plan their marketing strategy over the longer term, at least 2 years in advance.
Takaki Hibino, APAC Executive Chairman, Dentsu Aegis Network said:
“Brands globally have invested heavily in digital but have yet to reap the rewards as short-term metrics rather than driving digital transformation continues to dominate the marketing function’s focus and priorities.
In Asia Pacific however, CMOs are leading the curve with business transformation now firmly positioned as function’s top 3 priorities, and CMOs in the region being more likely to plan their marketing strategies over the long term. This creates a real opportunity for CMOs in this region to truly embed the digital transformation agenda and drive the future capabilities the region depends on for growth.”
Buying family medical insurance online in India has become a common option for individuals who want to secure health coverage for multiple family members under a single policy. However, many buyers are unsure about the exact steps involved in selecting and purchasing the right plan online.
In this guide, you will know the step-by-step process of buying family medical insurance online in India, along with the key factors to review before purchasing a suitable policy.
Step 1: Assess Your Family’s Healthcare Needs
Before buying online health insurance, check the healthcare needs of all family members. Check age, existing illnesses, regular medicines, and the likely need for hospital care later. This helps in selecting a suitable sum insured, policy type, and level of cover. It also reduces the chance of buying a plan that appears suitable but does not meet actual medical needs.
Step 2: Visit the Insurance Company’s Official Website
After understanding the family’s needs, visit the insurer’s official website and read the plan details carefully. Use the official platform to review eligibility, policy wording, waiting periods, cover details, exclusions, and renewal terms.
This step gives a clearer understanding of how the policy works before payment is made. It also helps avoid confusion caused by incomplete summaries on other pages.
Step 3: Compare Available Family Health Insurance Plans
A family medical insurance policy should be compared on factors beyond the premium. Review the sum insured, hospital network, room rent limits, pre- and post-hospitalisation cover, daycare treatment coverage, and waiting periods. It is also important to check treatment sub-limits and specific policy conditions.
Careful comparison helps determine whether a plan provides balanced coverage and whether its terms are suitable for the healthcare needs of the entire family.
Step 4: Choose the Right Policy and Start the Online Purchase
Once the options have been compared, select the policy that best fits the family’s medical needs and budget. Before starting the application, review the covered members, policy term, benefits, and main conditions again. This is an important stage because errors here can lead to the wrong cover amount, an unsuitable variant, or missing details that create problems during policy use.
Step 5: Calculate the Premium Using an Online Calculator
Use the online premium calculator before making the final choice. Enter the correct details, including age, city, number of insured members, and selected cover amount. The result helps in understanding the expected premium and whether the policy fits the annual budget. This step is useful because it allows cost and coverage to be reviewed together, instead of choosing a plan only because the premium looks lower.
Step 6: Fill in Personal and Medical Details
When filling in the proposal form, provide accurate details for each insured member. This includes name, date of birth, contact details, medical history, ongoing treatment, and previous insurance information if required.
Every answer should be complete and truthful. Incorrect or missing details can create difficulty later. Before you submit the form, read every section again and correct any mistakes.
Step 7: Make Payment Through the Secure Payment Gateway
After checking the form, go to the payment page and complete the transaction through the secure payment gateway. Review the premium, policy term, and entered details once more before confirming payment.
After the transaction is completed, save the receipt, reference number, or confirmation message carefully. Keeping this record is useful if you need to track the purchase or follow up on policy issuance later.
Step 8: Download and Keep Your Policy Document Safely
Once the policy is issued, download the policy document, schedule, and any related papers without delay. Read them carefully to confirm member names, policy period, sum insured, and major terms. Save a digital copy in a secure folder and keep a printed copy if needed. Proper record keeping makes future renewals, document checks, and policy servicing easier and more organised when information is required quickly.
Conclusion
Buying health cover online becomes easier when you handle each step with attention. From checking your family’s needs to reading the final document, every stage helps you make an informed choice. A careful approach can reduce mistakes, improve your understanding of policy terms, and help you choose coverage that matches your household’s medical needs, financial capacity, and long-term healthcare planning in a reliable way for your family over the long term.
