Uncertainty has become a reality for marketers, driven by geopolitical conflicts and the volatile policies of economic partners, prompting customers to be more cautious with their spending.
Marketers are encouraged to adopt more precise and niche strategies, while strengthening customer relationship management (CRM) to survive this turbulent period.
Last year, the Marketing Association of Thailand (MAT) conducted a survey of 126 respondents and found 69% do not plan to increase their marketing budgets in 2026, forecasting an industry-wide decline of 1% year-on-year.
"The trend of sluggish marketing budgets is expected to continue for around three years, largely because of the ongoing economic slowdown," said Asst Prof Ake Pattaratanakun, president of the MAT.
Furthermore, the administration of US President Donald Trump has proposed rapidly changing policies, contributing to marketers' hesitancy to invest. With almost three years remaining in Trump's second term, Asst Prof Ake predicts marketing budgets will remain stagnant during that period.
PRECISE, NICHE MARKETING
He suggested marketers consider the 5P strategy: precision, pause, push, partnership and planet.
Regarding precision marketing, Asst Prof Ake said with constrained budgets, marketers should make greater use of digital marketing tools. Data plays a crucial role in enabling more precise and effective campaigns.
He cited Thailand Post, noting if the organisation could identify households with elderly or bedridden residents and connect caregivers with companies that provide products and services for them, both parties could benefit.
Caregivers for these groups tend to spend more time at home and make fewer trips outside.
This approach would be more convenient for caregivers, while allowing brands to reach their target customers directly and reduce costs associated with the high fees charged by e-commerce platforms.
This example reflects the importance of data in precision marketing, said Asst Prof Ake, adding any data collection and use must comply with customer privacy requirements and the Personal Data Protection Act.
Artificial intelligence (AI) can also improve the effectiveness of targeted marketing campaigns, he noted.
Furthermore, as more consumers turn to generative pre-trained transformer (GPT) models and AI-powered platforms for information, relying solely on search engine optimisation may no longer align with consumer behaviour.
Asst Prof Ake suggested generative engine optimisation may be better suited to consumer behaviour, though the field is still developing.
Regarding pause marketing, he said given limited budgets, marketers should consider stopping spending on unmeasurable channels such as print ads or high-cost, low-reach content.
Companies should reduce budgets for mass TV and radio advertising, shifting investment towards more precise channels, data infrastructure and CRM, said Asst Prof Ake.
For push marketing, if marketers can identify niche markets in which their company has expertise, they should focus more resources on these segments, he noted.
Nutty's Adventures is an example of a business successfully targeting a niche market. The tour operator offers specialised programmes for travellers with disabilities, including wheelchair users and visually impaired tourists. The company's unique approach includes allowing visually impaired visitors to touch a scale model of Wat Chaiwatthanaram, enabling them to better appreciate the historical site's grandeur, according to an interview the owner gave to local media.
Asst Prof Ake said such distinctive services have helped the company stand out from other tour operators and attract a specific customer segment.
Regarding the partnership strategy, he recommended brands collaborate with other companies to share systems and drive mutual growth.
For the planet tactic, marketers should continue supporting social responsibility initiatives as the public remains attentive to whether companies are genuinely making a positive contribution to society, especially during difficult times, said Asst Prof Ake.
As large brands potentially reduce their marketing spending, small and medium-sized enterprises could seize the opportunity to strengthen their efforts, as they still have room for growth while larger players scale back, he noted.
The MAT issued its 2026-2028 strategy based on five pillars: elevating Thai marketing to global standards through collaboration with international partners and professionals; integrating data and AI; promoting ethics and social responsibility; improving the quality of life of marketing professionals; and supporting new marketing talent.
GOVERNMENT GRADED
On the domestic political front, Asst Prof Ake said another factor to monitor is the Constitutional Court's ruling on whether the use of barcodes and quick response (QR) codes on ballots in Thailand's Feb 8 general election violated the constitution. He said the ruling, regardless of the outcome, will have a significant impact on the country.
Asst Prof Ake graded the first two months of Anutin Charnvirakul's government a B, or 7 out of 10. He said the government's willingness to allow professionals to help address economic issues, as well as its decision to invite respected outsiders to advise the administration, was a good start.
"As a starting point, it was not bad, but much more could have been done," said Asst Prof Ake.
He said Thailand's medium-sized enterprises deserve greater attention from the authorities. While small and large businesses already have mechanisms in place to support them, midsized enterprises should not be overlooked.
These companies, which generate annual revenue of up to 500 million baht, play a crucial role in the Thai economy by employing a substantial workforce and sourcing raw materials from smaller operators, said Asst Prof Ake.
In addition, marketers face high gross profit (GP) fees charged by e-commerce platforms, which can now reach up to 40%. The government could set a common standard for GP fees on e-commerce platforms, while authorities could consider launching new platforms with more favourable GP rates for businesses, he said.
