e4m Martech League Dialogues: How marketers can harness the power of Mobile
At the virtual seminar, InMobi's Vasuta Agarwal and Myntra's Achint Setia shared their views on 'Mobile Moments of Truth' and how brands can leverage it to identify, engage and acquire customers
As part of exchange4media’s MarTech League Leadership Dialogues, speakers Vasuta Agarwal, Managing Director, Asia Pacific, InMobi and Achint Setia, VP - Marketing, Myntra explored the topic ‘The Mobile Moments of Truth’ in a discussion moderated by Nawal Ahuja, Co-Founder, exchange4media Group
As a medium, mobile has undoubtedly become an indispensible part of daily lives. For a marketer, this medium can be a real boon, if used to his best advantage. This brings us to the ‘The Moments of Truth Model, which signifies each distinct phase in the customer journey: Discovery, Consideration, Purchase, and Advocacy.
The definition of the Mobile Moment of Truth evolved with time and was distinctly defined by the CEO of P&G in 2005, who grouped them into three parts – when the customer first sees the product on the shelf, when he makes a purchase decision and finally, when he uses the product and shares feedback.
“Every time a consumer interacts with a brand and forms an opinion, it becomes a moment of truth for the brand to make an impact on the consumer, with almost 50,000 moments of truth every day,” said Vasuta Agarwal, Managing Director, Asia Pacific, InMobi
The mobile journey comprises Transience, Instantaneous, Relevance and Convergence. It is a platform people spend most time on, for their needs and to think of this medium as just a thing seem unfair. “Regardless of the platform, there is opportunity to engage the consumer throughout the funnel and the focus has to be on understanding the consumer, empathising with them and being ready to offer something instead of just taking something,” said Achint Setia, VP - Marketing, MyntraCapturing, talking about what a marketer needs to keep in mind while making using of the medium.
However, it must be noted that bringing the four elements of the mobile journey together, might not necessarily result in a click or in bringing consumers to your website, but can simply be just be brand recall in a relevant manner.
Agarwal believes that since mobile is omnipresent, it’s not just about the downstream metrics like a click or a download, but also the upstream part of the consumer journey. Every brand benefits from the mobile medium. Even then, there are specific categories which seem to reap more benefits the medium has to offer.
“Brands and platforms which have an online presence like an app or a website tend to benefit more. A vertical only present in the offline or retail world would not be able to benefit as much, since it is not a part of the mobile journey,” said Agarwal.
Mobile can help brands understand their consumers, identify them, engage them and finally lead to the acquisition.
Exploring the added benefits of the medium that brands can exploit to their advantage, Agarwal banks on relative content which is does not spook users. “The extent of personalization and targeting can go a long way in making the user confident that their privacy or data have not been taken for granted. There has to be a right balance and information for the user.”
However, there is a lot of content-clutter and brands who make the right use of content start with the brand purpose and align it with their story. Listing out three content purposes Setia said, “To entertain, engage or educate is necessary. If brands are clear about the objectives they desire from the content in the campaigns they create, things are much better off than otherwise,” adding that if the content play gives the brand an advantage, it should build IPs which it can own.
He also believes that the reason many brands fail in this journey is because they don’t align their execution with the brand objective.
User eye-balls are largely on mobile, as compared to print or outdoor. Although TV used to be considered a medium of huge reach, the reach of mobile is also quite high for a country like India. The time-spent and reach are very critical for the mobile medium.
Agarwal believes that any campaign run on a digital medium has an end-to-end view, which is not available on traditional. The measurement aspect of mobile is what brings a lot of sanity in a marketer’s life.
However, Setia also admits the fact that even though there is significant reach through mobile, there’s still a very clear role that mass media plays. Speaking of accountability for traditional vs. Mobile, he says that it’s a matter of time that the offline industry will have to evolve and provide better measurability options.Traditional media does not have measurability, Digital on the other hand has better measurability and ROI and was somehow still able to withstand in the start of the year.
Speaking about weeding out the use of bots and other fake means to drive traffic, Agarwal says, “There are third party tools that can provide double verification, measurement and transparency, which are evolving to develop confidence in the kind of users. There is a responsibility on platforms itself, with the kind of policies and verifications they carry out.”
“Ad frauds is not a big issue and we work constantly with our partners to prune it. In every digital marketing strategy, this has to be a critical part of thinking and not something which you have to look at after having taken care of everything else,” said Setia.
Talking about the areas of investment, Agarwal says that there are other user identifiers which brands and marketers can build. There are app-based identifiers which will possibly pave the way as cookies disappear and other identifiers gain traction. Shifting spends from traditional to Digital can be looked at as an opportunity. Digital Media is likely to become the second-largest media for ad spends and 70-80% of what went into Digital is now going into mobile.
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