5. Growth in information-based products
The revenue growth from information-based products will double that of the rest of the product/service portfolio for 25 percent of the top 1,000 Philippine companies by 2020.
"In the Philippines, companies in the telecommunications, retail, and banking industries, among others, have unlocked new opportunities in creating revenue through analysing and making sense of the aggregated customer information. Some organisations that have explored these options benefited in the form of penetrating new markets and generating new revenue streams as the information may vary from customer data to consumer buying patterns," said Nicolo Santos, Market Analyst for Imaging, Printing, and Document Solutions (IPDS) of IDC Philippines.
"This opportunity requires a constant effort for organisations to address data privacy and security issues, and government regulations that surround the collection, storage, use, and sale of consumer data," added Santos.
6. Testing AR and VR
Forty percent of the customer-facing top 1,000 companies in the country will experiment with augmented reality (AR) or virtual reality (VR) by 2019 to boost their marketing efforts.
"Consumer brands will be compelled to think out of the box and reinvent their marketing approaches - incorporating more AR/VR elements and placing emphasis on gamification - in a bid to gain the patronage and loyalty of consumers, especially young and tech-savvy millennials," said Sean Agapito, Market Analyst for Client Devices of IDC Philippines.
7. Creating new customer-/ecosystem-facing digital services
More than half of Philippine IT organisations (65 percent) will create new customer-facing, and ecosystem-facing services by 2019 to meet the business DX needs
"Failure to scale up the number of direct and indirect customers with whom an organisation does business will lead to revenue shortfalls and uncompetitive cost structures. Improve profitability, we expect organisations to increase their use of virtual agents or digital assistants. Intelligent assistants will use artificial intelligence (AI)/cognitive technology to automatically adjust experiences to the users' preferences and context," said Alon Anthony Rejano, Market Analyst for IT Services of IDC Philippines.
8. Digitalising customer support interactions
Most of customer support interactions (60 percent) will be digitalised and occur in online communities by 2018.
IDC expects more organisations to interact with customers through social and online communities, with the increasing proportion of Filipino population who are actively using social media. The research firm said nearly half of country's total population used social media in 2016.
"This will make the theme of customer reciprocity strong moving forward. Also in the near future, more organisations will use IT to integrate existing customer services and support systems like integrating pre-built connectors, mining the community for insight into customers' behaviour, and proactively solve any emerging issues," said Jerome Dominguez, Market Analyst for Client Devices of IDC Philippines.
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