BW Summit: Being hyper local effective in building products: Venkatesh Adavi
Adavi, Vice President, Strategy, Dailyhunt, on creating personalised, purposeful and high-performing products, at scale
The BW Marketing Whitebook Summit in Mumbai saw marketing honchos from all over the country present under one roof. Venkatesh Adavi, Vice President, Strategy, Dailyhunt, gave a special address at the summit on ‘Making products for YOU, and you are one in a Billion!’ He shared three philosophies to create personalised, purposeful and high-performing products, at scale.
Adavi began his address by talking about the challenges that an organization faces while making a product. He then threw light on how to make a personalised product.
Adavi emphasized that for any organization it’s obligatory to have clarity on basic concepts. “The first and foremost is the theory of concentric circles — the case for hyper local. It’s more about urban planning and the concept is everything that is local, everything that is around is important,” he said. “A human being spends most of their life within a few miles radius of their home/work. Everything hyper local should take precedence over expanding circles beyond those circles. If one looks at content consumption, more than 50 per cent of it happens on hyper local content. Dailyhunt is getting more and more hyper local with time.”
Going forward he spoke about translating hyper local into product and marketing goals. Giving marketers a tip, Adavi said: “For marketers, if your communication is more local or is in the language of the person staying in the locality, the communication gives the information of your store in that locality, it has much higher rate of success than any other brand communication.”
Adavi’s second concept focused on the mother tongue theory. He spoke about the neuro-lingustic programmes and what they mean. “Mother tongue becomes an effective way of trying to build a product for billion Indians,” he said. Sharing some figures, Adavi said, “Over 60 per cent millennials read Dailyhunt app in their regional language, in fact digital is also getting regionalized.”
The third concept, Adavi spoke about was instinct, emotion and intelligence. “Machine Learning helps in gathering knowledge, interaction, how people consume; whereas AI is about decision-making. ML feeds into AI to take a decision on what to serve the audience,” he said.
Adavi concluded by saying, “Hyper local, speaking in the language of the audience, using AI and Machine Learning, that’s how you develop a product that is both personalised and can appeal to a billion Indians.”
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