“Challenges of new era of global marketing can’t be ignored”
Modern marketers must learn to master the new channels of mktg built on technology platforms or perish, cautions Alyssa Altman, VP, SapientNitro
Industry experts are calling it the dawn of a new era in global marketing, characterised by a radical shift in attention of global consumers from broadcast media to an explosion of interactive channels, which has flipped the model for how companies connect with their customers. Quite simply, CMOs and marketing leaders are standing at a precipice, a moment of challenge where groundbreaking success, or catastrophic failure, waits. Modern marketers must learn to master these new channels built on technology platforms or perish, caution experts.
According to Alyssa Altman, VP, SapientNitro, “Global consumers have never been connected this way before and most importantly, talking about the Indian market, it is growing and digital is here to stay.” She was, however, concerned about the difference in designing sites in the US and in India.
Commenting on the companies’ approach towards growth in global markets, Altman observed, “As companies are increasingly looking to global markets for growth, the promise of aligning around the same technology, the same content, and the same experience globally has been a siren call to leaders of marketing. Imagined efficiencies in scaled global platforms are so great that we see companies across the world building them. While it may sound like a perfect solution to imagine every output of a marketing department is ‘reusable’, the truth is far from it. The reality is that much of what needs to be built as ‘common’, in fact, needs to be variable in local markets to be successful.”
To complicate matters further, many new channels are driven less by media purchase and more through the development of services and products. Companies’ ability to tune their marketing through cyclical media modeling alone is diminishing. Simultaneously, marketers’ expertise is being stretched into developing services that last. “So how do we measure? How do we know where to budget our resources to achieve the greatest result?” Altman asked, adding, “We will need to evolve our singular focus on ‘media mix modeling’ to a more broad view of ‘marketing mix modeling’.”
“Opportunities in the new era of global marketing are real, but the challenges that accompany them are not to be ignored,” she added.
Alyssa Altman was sharing her views on the topic ‘Standing at the Precipice: A new era of global marketing’ at the ad:tech Conference, which was held in Gurgaon on February 22, 2013.
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