PMAR 2020: Ads are necessary until 100% of target customers use your product: Vivek Sunder
At the unveiling of the Pitch Madison Advertising Report 2020, Sunder, COO, Swiggy shared insights on what a brand should do during a slowdown
The Pitch Madison Advertising Report 2020 was released yesterday at the Taj, Santa Cruz, Mumbai. The report tracked and analysed advertising spends of the year gone by while projecting the future growth. It aimed at understanding the challenges and opportunities that lay ahead for marketers and various media print, TV, radio, OOH, Internet, and cinema.
There was an array of intriguing sessions by marketers after the launch of Pitch Madison Advertising Report 2020. One such session was that of Vivek Sunder, COO, Swiggy on how advertisers can thrive in a slowdown.
Sunder started off his session stating, "A lot of our business do go through cyclic ups and downs but my perspective on how we look at a slowdown on our business is that our brands 'fastness' is entirely self- inflicted."
He emphasised that an economic slowdown is no reason for brands and advertisers to cut corners. "If you think advertising is a peacetime expenditure, then you are causing the slowdown you are complaining about," he said. Swiggy, for instance, also didn't scrimp on ads. Instead, it cut down on discounts. "You will see Swiggy on TV but we have cut discounts," he added.
He then went on to share about his past experiences in dealing with a slowdown. "Advertisements are necessary until 100 per cent of your target customers are using your product and are using it 100 per cent of the time. If the number is less than 100 than either of the two then there is something wrong. The consumer won't know your product or why to use it", remarked Sundar.
Sunder spoke about the food delivery apps customer metrics. He shared, "2 million consumers visit the app daily. They get their food within 45 min 99 per cent of the time."
He shared that for the year 2020 they aim to reach out to 550 cities with 3,00,000 delivery boys and crores of orders. Sunder also talked about the food app’s Gulab Jamun surge in search. He shared, "After Swiggy's ad, the search for Gulab Jamun increased by 11000% as people became aware that they can even order Gulab Jamun for Rs 50 from Swiggy."
Sunder, concluded his session saying, "' Category development and customers' is the growth mantra for the brand."
Instagram, LinkedIn, Twitter, Facebook & Youtube