DAN e4m Conference: 1/4th of our ad spends now digital: Shashank Srivastava, Maruti
Shashank Srivastava, Executive Director, Marketing & Sales, Maruti Suzuki, delivered a keynote session on the topic - Brand transformation in the digital age
At the unveiling of the 4th edition of Dentsu Aegis Network exchange4media Digital Advertising Report, we had Shashank Srivastava, Executive Director, Marketing & Sales, Maruti Suzuki, delivering a keynote session on the topic - Brand transformation in the digital age.
Srivastava started off the session by taking the audience on a trip down memory lane. He showcased pictures of how Maruti Suzuki started its journey in India in 1983 and how the company has been setting new standards in technology, safety, reliability and service.
Drawing a comparison between 1983 and 2020, Srivastava said, “Customers are now spoilt for choice - not only in terms of the media but also the products themselves. So, the offering of the products are a lot many. And therefore, the clutter is much more than what it was in 1983 when the average age of consumers was 45-46 years, today it’s 32-33 years. It’s not just the age but the aspirational levels too are different. We have greater urbanisation, which means that cities are expanding, people are now travelling larger distances, and they're spending more time in the cars.
The actual time spent on an average in 1983 in the car was about 11 minutes. Today, it is just short of 60 minutes and in the larger cities it is probably much longer.”
“For us, digital is just a technology by which we have to focus on our customer, how to make them happy, how to market a product to them. We have a very comprehensive approach, a holistic approach as you call it.”
Speaking about spends, Srivastava said: “1/4th of our ad spends are now #digital, which is helping us build our brand immensely. There is 20 per cent drop in cost of enquiry and 12 per cent is the conversion rate.”
Talking about how Maruti is evolving, Srivastava told us, “We have now moved towards personalization that is relevant and engaging for our consumers. This is done largely through analytics and technology. We have a huge amount of data in our interaction with consumers regarding insurance, finance and servicing. We have built that data and put them in a data lake. And we have algorithms which are now running to find out a single view of customer including his social media habits. That is something which is largely driven by digitisation.”
He also emphasised on why content is important and how the brand is making sure it is done to perfection. “It's not only about medium, but right content with right context. That's possible only through this digital media,” he stated.
Srivastava concluded the session by sharing with the audience that Maruti is the 9th most valuable auto brand in the world and No. 1 in India and 43% of Maruti Nexa customers are coming from the brand’s competitors who earlier never purchased a Maruti. “We will continue to evolve as the consumer does, we will also be keeping pace. We are confident that we will be able to and maintain our leadership position.”
Shashank Srivastava , Executive Director- Marketing & Sales @Maruti_Corp talks about #Digital's role in making their manufacturing power bigger and more influential! #DANe4mReport pic.twitter.com/wDZKYMZim5— exchange4media group (@e4mtweets) January 23, 2020
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