Wirefoot, in association with IBM, conducted the Retail Branding 2.0 conference in Delhi on July 9, 2010. A knowledge initiative of Wirefoot, the conference was held with the objective of bringing forth the power of Internet media in retail brand building and consumer connect. It hosted speakers like Manoj Chandra, Vice President, Bata; Vikas Gupta, Founder and Director, 9.9 Mediworx; and Amarjit Batra, Country Head, OLX, to name a few.
Ankur Dinesh Garg, CMD, Wirefoot, kick off the conference by talking about the advantages of internet as a medium to reach out to the consumers.
Manoj Chandra shed light on how virtual is real and highlighted the advantages of virtual retail. He said, “Virtual Retail helps in getting extended presence, building customer connect and providing the entire range of products round-the-clock.” He stated that since, according to company statistics, two thirds of the store sales were web driven, Bata has invested significantly in digital media promotions.
Vikas Gupta of 9.9 Mediaworx cleared the air around why current why current companies are hesitant about investing in digital marketing. It is because, said Vikas, current crop of CMOs worked up the order in an environment that was exclusive of computers and Internet. “The current breed of marketing professionals is natural with internet and, thus, will foresee the limitless opportunities that the virtual world offers.”
Amarjit Batra, from OLX, pointed out that retail companies are currently not leveraging internet to it its full potential. The key factors, according to him, that are responsible for stopping retail players from embracing internet are lack of understanding of the medium and lack of perception. Batra emphasised that the time to take internet seriously to reach the end consumer has never been better. “India has got 60 million internet users, 600 million mobile users and nearly 20 million mobile internet users. Our middle class is burgeoning and a youthful audience that is knowledgeable and therefore acts influencers to others.” He mentioned that when a company decides to go digital, it should look at the medium as a brand building space rather than a promotional medium. “Digital advertising today is about creating content that is useful and entertaining,” he added.
The conference also held a panel discussion on why ‘Brand Recall’ is missed out upon as a measurement for Internet Brand Investments. The panelists included Rajeev Dhal, Country Head, J9 Ventures, Mohit Saxena, CEO, Snowball, Anurag Gupta, MD, DGM, amongst others.