Paddy Rangappa, Independent Marketing Consultant and Trainer, and ex-Vice President, Brand Development for McDonald’s Asia Pacific Middle East Africa spoke about ‘Developing Consumer Insights’ at the recent Indian Society of Advertisers Workshop. The sessions were divided into ‘Understanding the insight’, ‘Busting myths about insights’, ‘developing insights’ and ‘insights into action plans’.
According to Rangappa, “Today ‘insight’ is one of the most over-used words in business lexicon. Insights are really important, not only to make a powerful campaign but for the overall growth of the brand. Today’s constantly escaping consumers believe in Engaging, sharing, creating, ascertaining, playing and entertaining with the consumers. Uber is an example of a business model which is based on insights. Time and convenience are the most valuable currency for today’s generation and in the digital world, insight is very important.”
Speaking about the role of advertising to build brands and retain customers, Paddy added, “Role of advertising is to build brands and retain them in the consumer’s memory. Brand advertisements work better than promotions, but still brands do it because of competitive pressure, retail pressure and desperation. All this is done in the hope that if a consumers comes once, he will come again. But in reality, there is actually no change in the buying rate after the promotion period gets over.”
The workshop highlighted the importance of connecting with today’s hyper-busy, always-digitally-engaged consumers with real consumer insights and the ways to use that data to develop compelling business and marketing plans.