We are increasingly investing in collecting behavioural data: Preeti Reddy, Kantar
Reddy, CEO, South Asia, Kantar shares insights on Kantar's growth plans for the Indian market, which sector is doing well in advertising, and more
Preeti Reddy heads the world’s largest research, insights, and brand consulting company. This year Kantar India has come out with a CX+ report that stated how consumers want better consumer experiences in the banking sector. The report stated that consumers are willing to share their data if that means they will get personalised experiences in return. It also published a report on the latest trends in the FMCG sector and learnings drawn from Kantar Worldpanel, Baby Panel and Men’s grooming products. With this data and research, brands can leverage and help them in their brand strategy to garner more profits.
Preeti Reddy, CEO, South Asia, Kantar, is a strong proponent of technology-driven innovation in research, adoption of new, non-conscious methods of understanding consumers and applying sophisticated analytic capabilities to integrated data to help transform consumer insights into business impact for clients. She has over three decades of experience in consumer marketing, consulting, and research helping leading Indian and multinational companies make informed decisions using consumer understanding.
Reddy talks about how brands are thriving despite India's economic disruptions, Kantar's growth plans for the Indian market, which sector is doing well in advertising and how one can use big data in the Indian context.
Brands continue to strive even though the Indian economy went through massive disruptions
Brands are not a one-time activity it’s a long term sustained investment. Even though the growth of the economy has slowed down brands have grown. When you look at the brands that have grown vs. the ones that have not done so well. There are some basic principles that they follow, which differentiate them from the ones that are not growing so well. These include being focused, having a purpose and treating their consumers not just as buyers and consumers but as human beings. Brands need to satisfy the needs of the consumers as human beings and not just in a narrow sense and build trust among consumers.
Kantar’s plans for India and their growth story
Today, constituents of some really well-known legacy brands IMRP, Millward Brown, TNS, Kantar Worldpanel, and Kantar Public (social & developmental research) are coming together. All of these sectors constitute Kantar now. This makes us by far the largest in the industry. We also know have an analytics business, Kantar Analytics, so we have covered everything. We are completely a full-service agency. We have grown consistently over the last three to four years. We are now a well-integrated large agency that leverages from human understanding. Our purpose is to leverage human understanding to help our clients grow. We work virtually every significant company in the country. We have also now started exporting our expertise to the rest of the Kantar world. India is recognised as having great intellectual and analytical talent so we are using that not to labour arbitrage but to expertise our arbitrage.
The areas Kantar is highly investing in
Analytics is one. The other one is that we are increasingly investing in collecting behavioural data. The way we have always worked is by asking consumers what they do. We are now moving to a situation where there is a lot of data available where consumers are just giving you data. So we are getting to alliances on that data with companies.
CX+ study on banking which Kantar rolled out in July 2019
Increasingly we are moving away from providing products and services to providing consumer experiences. Actually, providing experiences to end-to-end consumers is the way to go forward.
The usage of big data for the Indian market
There are companies that are collecting big data. But I think generally what is happening is that most of us don’t know what to do with that data. So I think that is when agencies like us come in to try and make sense of that big data. Because big data is of all kinds, it is a bit chaotic right now. I think the next thing that we need to do is actually help clients make sense of that big data.
Which sector is doing well in Advertising in terms of growth?
FMCG is continuing to do well and remains to be our largest client. Whereas, automotive hasn’t done well this year. Financial services have grown but our main sector continues to be FMCG.
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