Razorfish came to India last year after the parent group Publicis acquired Bangalore-based technology services provider Neev Information Technologies. Razorfish is a digital marketing firm that provides strategic consulting, experience design, brand building, technology platforms, data services, retail/commerce and media services to many well-known brands.
In an exclusive conversation with exchange4media,KanikaMathur, Managing Director, Razorfish India, talks about how the company has grown in the last one year. She also shared her insights on trends in the market.
How has Razorfish’s journey been in India so far?
We started last year and we are now 400 people strong. We started with acquisition of Neev Technologies that had some 200-250 people and was largely technology based. If you look at Razorfish at a global level, we have three focus areas- creative, media and technology. The basis of Razorfish to set up any business in any geography is by means of technology. If you look at services Razorfish provides, it’s essentially technology for retail and commerce, data and analytics, all of which requires building. We are doing reasonably well in India. Between last year and this year we have grown by about 30 percent.
What difference are you seeing in the market in India vis-à-vis globally?
Between the market in India and the US, for instance, the only difference is the scale. The market dynamics are same, the needs are same. More and more people are now getting on the internet in India and that is where the difference is. The scope to scale up is much larger here since this is a growing market.
How is the integration of digital and traditional media in advertising working out currently?
This integration is integral. With respect to commerce in particular, omni-channel experience is the most popular as of now since the consumer is present everywhere. The whole idea is that you give consumers an experience across all channels. The connect between online and offline becomes critical and anyone who is not doing so is losing out on a huge opportunity.
At what rate are the spends in digital increasing as of now?
The ad spends on digital are increasing at 30 percent year on year. I see digital doing extremely well and growth rates are very high vis-à-vis other traditional media.
What are the top trends according to you?
As I stated earlier, omni-channel is the biggest trend going forth. Personalization using the whole data-driven technology comes next. Today we don’t do campaigns based on just gender or age thanks to the data that we have, we know very specific needs and likes of our target audience. The third trend is real-time marketing.
It has been said that digital is a medium for brand building as of now and ROI in terms of lead generation should not be expected. What do you think?
I don’t agree to that. I think digital can easily do both. If you look at lead generation and business, the main thing that digital marketing can do is measure each and every rupee spent. To me that is the biggest thing about digital, its measurability.
How are brands using social media?
Through socialmedia you can promote content and engage with clients in ways that are more experiential. People are consuming content via these platforms and hence the need to be a part of this content is great. Consumers may not notice a banner ad or a display ad, but content gets noticed.