DYNAMISM OF THE INDIAN MARKETERS
It’s clear that in today’s ever-evolving media landscape, successful brands are those that can adapt and innovate to stay relevant to their target audiences. The conference, with the backing of partners MiQ, JioAds, and RedFM 93.5, aimed to delve into the strategies and tactics employed by brand marketers and their agencies to create impactful campaigns that connect with consumers.
By exploring both traditional and digital media channels, attendees gained insights into how to leverage these platforms to drive meaningful engagement with their audience. The conference provided an opportunity for marketers to learn from industry leaders and peers, and to discover new approaches to building strong, enduring brands.
In a world where consumers are increasingly savvy and discerning, it’s more important than ever for brands to stay ahead of the curve and deliver creative, original campaigns that resonate with their target audience. This conference promises to provide the tools and knowledge needed to achieve this goal.
It’s heartening to see how the Marketers’ Excellence Awards came about as a response to the resilience and innovation displayed by brands during the unprecedented challenges of the pandemic. Despite the difficulties posed by the global crisis, many brands were able to devise impactful communication campaigns that resonated with consumers.
Now, with India’s economy showing signs of strong growth and robust consumer confidence on the rise, it’s clear that the country’s marketing landscape is evolving once again. However, as you mentioned, the pandemic has left its mark on the Indian consumer, altering their behaviors and perspectives in ways that brands must now consider.
To stay ahead in this dynamic environment, marketers must continue to adapt and innovate, understanding the shifts in consumer attitudes and preferences brought on by the pandemic. By staying attuned to these changes and leveraging new strategies to engage with their audience, brands can ensure they remain relevant and successful in the post-Covid era.
The Marketers’ Excellence Awards (MEA) serve as a platform to honor and celebrate brands that have demonstrated an exceptional ability to connect with consumers through creative and original communication strategies. By recognizing these achievements, the MEA encourages the industry to strive for marketing excellence and push the boundaries of what’s possible in the field.
The awards acknowledge the hard work and ingenuity of brand marketers and their agency partners who have effectively utilized various media channels, both digital and traditional, to create impactful campaigns that resonate with their target audience. With a focus on innovation and effectiveness, the MEA highlights the importance of staying ahead of the curve in an ever-evolving marketing landscape.
In doing so, the Marketers’ Excellence Awards not only celebrate the success of individual brands, but also inspire the entire industry to continue raising the bar for marketing excellence.
The Marketers’ Excellence Awards (MEA) has gained significant momentum since its inception, attracting participation from a diverse range of brands across various industries in India. This growing interest highlights the value that marketers and their agency partners place on being recognized for their innovative and effective marketing campaigns.
In its 4th edition, MEA continued to emphasize the importance of leveraging different media channels, both digital and traditional, to create impactful campaigns that resonate with target audiences. While digital media has become increasingly popular among marketers, MEA remains media-agnostic, evaluating and rewarding work across various media channels.
This approach ensured that creativity and effectiveness are the primary criteria for recognizing excellence in marketing, rather than the choice of media channel. As a result, the Marketers’ Excellence Awards have become a highly coveted accolade in the industry, inspiring brand marketers and their agency partners to push boundaries and create compelling campaigns that truly make a difference.
Few of the illustrious roster of speakers, included -Alok Arya, chief marketing officer, Equentis Wealth Advisory; Ashima Mehra, CEO, FCB INDIA; Ashish Mishra, CEO India & South Asia, Interbrand; Deepa Krishnan, head – marketing, India and Southwest Asia, Hyatt; Esha Arora, SVP growth and insights, Info Edge India; Jahid Ahmed, SVP & head of digital acquisition, HDFC Bank; Jiteen Aggarwal, CMO, Hettich India; Krishna Menon, chief operating officer, QYOU Media Inc.; Krishnarao S Buddha, senior category head, Parle Products; Neeraj Sharma, executive vice president-planning, Ogilvy; Oindrila Roy, managing director, Publicis India; Pallavi Barman, chief strategy advisor, HRX; Pratik Mukherjee, head of business – beauty, House of Masaba; Rachana Lokhande, founder, Glocal Bridge; Rishi Kakar, head of marketing and strategy, Kokuyo Camlin; Rohan Chincholi, chief digital officer, Havas Media India; Sachin Phansikar, chief operating officer, Business Standard; Saurabh Jain, CMO, Zydus Wellness; Shreyas Kulkarni, assistant editor, afaqs!; Shrinivas Khanolkar, head – products, marketing & corporate communication, Mirae Asset Investment Managers (India); Shubhranshu Singh, chief marketing officer, Tata Motors Commercial Vehicles; Shweta Rangra, head of marketing, Hafele India; Shwetal Basu, customer care associate and chief of marketing and communication, Shoppers Stop; Sreekant Khandekar, co-founder & CEO, afaqs!; Sujay Rachh, chief marketing officer, Nuvama Group; Swati Rathi, head of marketing, Godrej Appliances; Tushar Malhotra, director of sales and marketing, Bisleri International; Vaibhav Kapur, senior director, monetisation, Flipkart; Vandana Ramkrishna, chief operating officer, Madison Media Ace; Varun Mohan, head of growth & revenue, MiQ India; Venkata Susmita Biswas, executive editor, afaqs!; Vignesh Narayanan, vice president – business head, media, JioAds.
In the panel discussion Brand loyalty revisited, the panellists Ashish Mishra – CEO India & South Asia – Interbrand, Deepa Krishnan :Head – Marketing, India and Southwest Asia – Hyatt, Saurabh Jain-CMO-Zydus Wellness, Swati Rathi-Head of Marketing-Godrej Appliances, and moderated by Venkata Susmita Biswas- Executive Editor – afaqs! discussed the challenges facing brand loyalty in today’s digital marketplace and offers insights from industry experts on how to maintain it.
Here are the key takeaways:
Changing Landscape of Brand Loyalty
Brand loyalty is under threat due to several factors
- Abundance of choices for online shoppers
– Attractive perks like discounts, free delivery, and cashbacks
– Emergence of numerous unknown brands at lower price points
– A 2018 Accenture survey found that 70% of Indian consumers don’t see much difference between brands
Expert Perspectives
Ashish Mishra, CEO, Interbrand-
Brand loyalty has transitioned from an expectation to an outcome-
Changing frames of reference impact loyalty, with consumers expecting Netflix-like experiences from various services
Saurabh Jain, CMO, Zydus Wellness- For legacy brands, product innovations and omnichannel retail approach are crucial for retaining relevance
Swati Rathi, CMO, Godrej Appliances- Good experiences with appliances can improve brand loyalty, but market changes and evolving customer needs still play a role- Loyalty primarily ensures a brand’s place in the consideration set for future purchases
Deepa Krishnan, Head of Marketing, Hyatt India and Southwest Asia-
Customer experience is paramount in building loyalty
Brands must make consumers feel special at every touchpoint
“A brand that does not invest in brand loyalty is saying goodbye to its future market share”
Strategies for Maintaining Brand Loyalty
1.Invest in building empathy with customers.
2.Focus on strong differentiation.
3.Offer consistent customer experiences.
4.Learn from failures
5.Utilize social media and loyalty programs effectively
Advice for Young Brands-
1.Balance performance marketing with building emotional connections
2.Create strong differentiation in the market
3.Provide consistent customer experiences
4. Embrace failure as a learning opportunity
The panel discussion emphasized that while brand loyalty faces challenges in the digital era, it remains crucial for long-term success. Brands must adapt to changing consumer expectations and focus on creating meaningful, consistent experiences to build and maintain loyalty.
In the panel discussion – Is the idea of brand positioning obsolete?, the panelists — Alok Arya,Chief Marketing Officer-Equentis Wealth Advisory, Ashima Mehra- CEO- FCB INDIA, Neeraj Sharma- Executive Vice President-Planning- Ogilvy, Pratik Mukherjee-Head of Business – Beauty-House of Masaba, Shubhranshu Singh -Chief Marketing Officer- Tata Motors Commercial Vehicles, Moderated by Sreekant Khandekar:Co-Founder & CEO -afaqs! discussed the evolving landscape of brand positioning in the digital age, based on insights from a panel discussion at the Marketers’ Excellence Conference 2024. Here are the key takeaways:
Relevance of Brand Positioning
Despite changing market dynamics, brand positioning remains crucial:
– Shubhranshu Singh (CMO, Tata Motors) argues that brand positioning is more important than ever, especially in answering key questions like “Who am I?”, “Why buy me?”, and “What does your possession of me as a brand say about you?”-
– The shift from traditional media to digital platforms has increased the need for a strong brand anchorI
Impact of Social Media and Algorithms
Social media has significantly altered brand-consumer interactions:
– Algorithms now mediate much of what brands construct as reality for consumers
– The digital landscape offers more opportunities for brand creation, leading to the proliferation of D2C brands
Complexity of Brand Messaging
Ashima Mehra (CEO, FCB India) notes that brand messaging has become more complex:
– New social media platforms constantly emerge, requiring brands to adapt their communication strategies
– This complexity represents a rapid learning curve for marketers and advertisers
Challenges in Brand Control
Pratik Mukherjee (Head of Business – Beauty, House of Masaba) highlights the difficulties in maintaining brand control:
– D2C and online-first brands face a constant struggle to balance revenue goals with brand narrative control
– Brands must define guardrails and accept some loss of control over their narrative, especially with influencer marketing
Opportunities and Risks
Alok Arya (CMO, Equentis Wealth Advisory) describes social media as emotion-driven:
– Some brands have successfully leveraged social media (e.g., Zomato and Durex)
– However, brands must be cautious about latching onto social media trends without proper context
Importance of Effective Communication
Neeraj Sharma (Executive VP – Planning, Ogilvy Mumbai and Kolkata) emphasizes the fundamental principles of communication:
– The primary goal is to be heard, then understood- Brands must ensure their message is interesting enough for people to listen
In conclusion, while the digital landscape has transformed brand positioning, it remains a critical aspect of marketing. Brands must adapt to the complexities of social media while maintaining a strong core identity and effective communication strategies.