The Seventh Digital Marketing Roundtable organised by IAMAI and eBay India was held on November 18, 2009 in Mumbai. The roundtable discussed ‘Common mistakes of digital marketing’.
The internet medium has matured in the last ten years and now is the time for digital agencies to have custodians who build brands based on customer insights. This was one of the outcomes from the Seventh Digital Marketing Roundtable. Another prominent point was that even though marketers still did not understand how digital media functions, the experts believed that in time to come, the spends of FMCG brands would go up in digital media, especially in social networking
The panellists included Lloyd Mathias, Chief Marketing Officer, Tata Teleservices; Kartik Jain, Head Marketing and eChannel, ICICI Lombard; Manish Vij, Co-Founder, Quasar Media; Peshwa, Acharya, VP and Head Marketing and Consumer Experience, Reliance Retail. The session was moderated by Ambareesh Murty, Country Manager, eBay India.
The session commenced with Vij giving a brief presentation on his learning from digital marketing. Vij highlighted, “The digital media has matured in the last ten years. Now marketers need to involve digital media when presenting creative thoughts. It is also high time that digital agencies have brand custodians. Digital medium needs to intercept people searching their product at any point of time. But first, we need to change the way we are thinking and once that happens, a lot will change itself.”
Highlighting the truth about e-marketing, Jain said, “There is a need to look at cost per acquisition, to use analytical tools, as it is the compass to navigate business. Another truth is that search works better than content advertising. We need to understand customer search behaviour. It is also learnt that text ads do better than banner advertising and that e-marketing is just one element of the entire marketing mix.”
Understanding Customer Behaviour
Mathias noted, “One of the challenges for marketers is that digital medium becomes very result-oriented. There is a whole new opportunity within digital marketing about building one’s brand. The essence of building brand value therefore has slightly diminished, and so it is important in getting the entire digital team into your brand thought.”
“Digital media has a huge role to play for FMCG brands, one of the challenges for the marketers however is that they should start looking at digital media as a platform for their brands, as the whole ability of digital media is to make your brand come alive. I see media spends of FMCG brands rapidly increasing particularly in social media,” added Mathias.
Vij observed, “There should be a differentiation with some elements of digital media, as there needs to be a balance required when it comes to ROI. Clients become so focussed on cost per acquisition that they forget a lot that the digital media can offer.”
Acharya observed, “Are we building the brand in the right manner and in a sustainable manner? Things are moving much faster than we think, are we really utilising that? There is a high possibility of conversations being much higher in the digital media than in any other medium. One of the reasons why enough money is not being spent on digital media, is because the marketers have still not understood the way internet functions. The crux of the matter lies not in measurement system alone.”
Murthy concluded, “The panel has agreed on the need for a balance in ROI with strong resonance on brands being built on consumer insight. Social media is one of the areas where brands can fit in well and even though internet in India is still very small, marketer can now no longer ignore the medium.”