Marketing is a crucial activity for all companies, and marketing during turbulent economic times assumes special significance. So, how does one cut costs and not corners and stay ahead in these VUCA times? Personalisation is one of the key strategies, said Kirthiga Reddy, Director, Online Operations and Head of Facebook India. She noted, “Samsung did something amazing for the launch of its Note 3 smart phone. As a logout property, there were different messages for females and males, which resulted in zero spillage.”
According to Ashok Venkatramani, CEO, MCCS, companies should now opt for Brand Social Responsibility (BSR) from Corporate Social Responsibility (CSR). “We need to link business and network with a social do good,” he said. Venkatramani cited the example of Lifebuoy, which has taken upon itself to eradicate diarrhoea with a simple habit of washing hands before meals. Brands need to put pressure on media to start selling profiles and not vanilla demographics, the MCCS CEO said, adding, “There is need to move from buying reach to buying impact.”
For a company such as Raymond, which imports 70 per cent of the raw material from Australia, here is direct impact of rupee fluctuations. Sanjay Behl, CEO (Lifestyle), Raymond listed three fundamental things that remain unchanged irrespective of the market sentiments, “Stay focussed, be fast & agile, and be flexible”.
Kirthiga Reddy, Ashok Venkatramani, and Sanjay Behl were speakers at a session on ‘Cut Costs, Not Corners – Smart Marketing for Turbulent Times’ at ISA’s Global CEO Conference on Navigating a VUCA World. The session was moderated by Sunil Kataria, COO, Sales, Marketing and SAARC, Godrej Consumer Products. The Conference was organised by the Indian Society of Advertisers (ISA) in partnership with exchange4media and held in Mumbai on October 30, 2013.