Watch: Consumer data is the new currency in new model marketplace: Akash Banerji, Voot
An Initiative by Bloomberg Quint
With time not only have the consumer or brands evolved, the marketing strategy too has changed but the rules of the game are still the same. The target audience, their needs, what they want to consume, the whole content marketing strategy revolves around the same.
Akash Banerji, Head Marketing and Partnerships, Viacom18 Digital Ventures- Voot in a conversation with exchange4media, shares his thoughts on content marketing strategy and why traditional form of advertising will remain the choice of masses.
A detailed content marketing strategy is essential for the success of most organisation. Your thoughts?
The entire world has changed in last couple of years with the explosion of devices and with abundance of content pieces for the consumers. But what has fundamentally changed on the advertising front is that the traditional models for mass media market where an advertiser and brand would go out there and talk about how unique they are and how greatly they are going to change your life is no more relevant. Consumers now know their favourite brand that Google informs them at that point in time. Now in this new era, brands and advertisers have increasingly started combining data and technology with impeccable story telling not just to buy loyalty from consumers but to earn it every single time. Hence content marketing very clearly is the new forefront for advertisers trying to seek, to leverage, drive long term brand loyalty with the consumers.
What according to you are the key aspects of a good content marketing strategy?
The further we go away from the old the more we realise that the rules of the games are still the same. Hence, even on the content marketing side the first biggest cornerstone is to know who your target audience is. And everything first and foremost needs to revolve around that because once you know who your target consumer is and their needs, your content needs to cater around that. Secondly, now with the explosion of the data, the consumer data has become the new currency in this new model marketplace. In this new world, fortunately or unfortunately, the only way you can win is to be strategically focused on the sweet spot where data, technology, audience and content meet.
How media has evolved around content marketing, given increased consumer engagement and how brands are using this as a measurement medium.
Brands have very clearly realised that the world of media has changed faster than any time in the history. We all are at some level, whether it's a platform or consumer we all are fighting a battle of attention, to win hearts and minds of the consumers. In that process, advertisers have realised that the only way to win that battle through a simple rule which is to create more riveting stories and rest everything else is pure noise.
Do you think that traditional content marketing is being left out in the digital push?
Absolutely not, TV is not going to die anytime soon. TV penetration in this country is still hovering around 60-65 percent. TV very clearly continues to see, a massive growth in next few years because what they end up doing is delivering massive reach to a huge set of consumers. While the messages can be micro targeted which is corollary to what digital offers but for meaning to be established you need mass media and traditional form of advertising. Traditional form of mass media is not going to die.
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