Situated in the IT capital of India (Bengaluru), six-year-old Happiest Minds Technologies founded by Ashok Soota, plans to go public in about three years, with its marketing strategy playing a vital role in the journey so far. Happiest Minds Technologies enables digital transformation for enterprises and technology providers through an integrated set of disruptive technologies such as big data analytics, internet of things, mobility, cloud, security, unified communications, SDN-NFV, etc.
Kiran Veigas, Associate Director & Head – Corporate Strategy & Marketing, Happiest Minds Technologies, chats with exchange4media elaborating on the company’s growth strategy, differentiating factors, marketing strategy, GST and more.
Happiest Minds has grown tremendously in a short span of time. What is your marketing strategy?
Happiest Minds is on track to becoming the fastest Indian IT services company to reach a $100 million run rate and plans to go public within the next three years. Our marketing strategy has two main objectives: (a) Lead Generation (b) Brand Awareness. We use a content-driven SEO approach to generate leads using corporate website as well as paid campaigns. Events and cold calling campaigns are also an important source of lead generation.
How different is the marketing strategy for product vs. service?
Product marketing is all about selling the unique value of the product, whereas service marketing is all about relationship selling. The four Ps of marketing (Product, Price, Place and Promotion) apply to product marketing. For service marketing, in addition to the four P’s, three more P’s need to be considered: People, Process and Physical Evidence.
Given that services are intangible, developing and marketing a service requires a different approach. Services vary from person to person, and hence need to be customised.
How do you differentiate Happiest Minds Technologies from its competitors?
Happiest Minds’ twin themes of Disruptive Technologies and Disruptive Culture make it different from the others. Under Disruptive Technologies, the company provides differentiated tangible value to its customers around the metrics of four R’s: Reimagining Customer Experience, Reengineering Business Fluidity, Reducing Risk, Reducing Time to Market.
We think of Disruptive Culture this way—the name ‘Happiest Minds’ reflects the company’s mission, which is a constant reminder that it is in the business of making customers and employees happy. Twenty per cent of the Variable Pay for each Happiest Mind is linked to the company’s personal “Happiness Evangelism Index” 360-degree assessment. Happiest Minds is also a pioneer in the creation of the role of a Happiness Evangelist, someone who is responsible in sensitising the tenets of happiness into organisational practices.
What are your plans on the digital marketing side?
We believe that differentiated customer experience is the key to marketing success. Personalisation and omni-channel marketing is what delights customers. Our content optimisation strategies include visual content with infographics and videos performing better; immersive content, 360-degree videos and live videos (Facebook, Twitter, YouTube, Instagram have released these features); interactive content such as quizzes, polls, calculators and contests.
Moreover, we plan for marketing automation, Account Based Marketing (ABM) relevant for B2B marketers targeting large accounts, Online PR and Influencer outreach, SEO, Organic Search and Social Media Marketing.
Will GST have an impact on the marketing sector in particular?
GST will definitely improve the tax system and structure in our country. The marketing sector will have a positive impact post GST implementation. Some of the advantages include the ease of start-up, simple taxation rules, reduction in logistics costs and higher exemptions for new businesses.