e4m MarTech India Bridge1: Industry leaders discuss innovations in marketing technologies
Thought leaders Jarrod Gingras, Dr Apoorva Durga, Aparna Mahesh, Anil Srinivas Chilla, Prabhakar Tiwari and Anika Agarwal presented their views on 'The Right MarTech Stack'
The inaugural day of the week-long MarTech India Bridge1, a virtual conference, witnessed thought leaders from different walks of the marketing and technology domain presenting their views on 'The Right Martech Stack'.
Luminaries, namely Dr Apoorv Durga, Analyst and Founder, AltView Advisory; Jarrod Gingras- Managing Director & Analyst, Real Story Group; Anil Srinivas Chilla- Chief Digital & Data Officer, L'Oréal India; Prabhakar Tiwari- CMO, Angel Broking; Anika Agarwal- CMO, Max Bupa; Aparna Mahesh- CMO, Bank Bazaar; along with Dr Annurag Batra, Chairman & Editor-in-Chief, exchange4media, and graced the dias of the event. Ruhail Amin, Senior Editor, exchange4media group, and Anisha Nayar Dhawan, TV anchor, acted as moderators for the virtual event.
Dr. Batra kickstarted the event with his welcome address followed by a presentation by Dr Apoorv Durga on 'Global Marketing Technology Landscape: An Overview & The Need for Creating an Indian Marketing Technology Landscape'. In the presentation, Durga highlighted the fact that omnichannel experience is broken. Often there is discrepancy in the data. He enlightened the audience by the broad martech functional categories. These five categories are Content & Experience, Social & Relationship, Commerce, Advertising & Promotions and Marketing. Going forward with the presentation, Durga added, “If you licence a suite, don't assume all the components of the suite/cloud are well integrated. Plan for additional effort/resources".
“There is no such thing as an end to end solution or out of the box platform. Look for best of breed solutions to build your own Martech stack," added Durga. He concluded his presentation by saying, “There is a lot of technology but you can simplify use different categorisations.”
Durga’s presentation was followed by a panel discussion on ‘Marketing Technologies India Needs', which had experts like Anil Srinivas Chilla- Chief Digital & Data Officer, L'Oréal India, Prabhakar Tiwari- CMO, Angel Broking, and Anika Agarwal- CMO, Max Bupa. The panel was moderated by Amin and Dhawan. The discussion focussed on marketing in a diverse, complex, and multicultural country like India. Panelists deliberated on what marketing might look like in a post-COVID world and preparedness and adaption of the new normal. They also discussed how Indian markets are different from any other in the world and kind of marketing technologies and areas in which CMOs and CTOs need to collaborate.
Chilla highlighted, “We call ourselves a beauty tech company. L’Oréal has acquired Augmented Reality and Artificial Intelligence entity ModiFace to create new Augmented Reality experiences." Tiwari too said, “Last year, apart from changing our pricing, we changed our business model. So, rather than having field force during acquisition phase, we started with the face to face interaction."
“There is a big rush to buy insurance right now & the advantage that we have got is what we were getting ready for, in terms of customer revolution & customers coming in & buying digitally; access to data; that's coming in handy,” added Agarwal.
Keynote presentation was given by Jarrod Gingras- Managing Director & Analyst, Real Story Group, on the topic 'The state-of-the-art Martech Stack: What it looks and how it works”. During his presentation, Gingras explained, “Ideal customer engagement is right content to the right person in the right context at the right time and measure the effectiveness." According to him, Martech really started to have a bit of backclash when it changed to what customers were experiencing & many organizations started to feel some pain from the distraunted experience that their customers were experiencing. He then added, “New omnichannel architecture push rules, data, content and collaboration lower in the stack, enables you to take an enterprise-wide approach to consumer interaction."
The key takeaways from Gingra's presentation were- understand that state-of-the-art omnichannel stack were aspirational; eliminate channel-specific data, content rules silos; balance structure and flexibility, and leave room for experimentation. One size does not fit well and move foundational building block elements lower in your stack.
The event also witnessed a ‘success story’ presentation on 'How to Build Brand Resilience to Combat Disruptions' by Aparna Mahesh- CMO, Bank Bazaar. Moderators puzzled the speaker on points like consumer behaviour in Fintech, building brand resilience, latest trends in BankBazaar, technology in building brand & its future, leveraging digital, and future that lies ahead.
Mahesh threw light on the fact that the entire ecosystem needs an overhaul. She said, “There is a demand for liquidity and we are trying to deliver the seamless and contactless experience." She added, “Our vision has been to offer the right financial products completely paperless. We have the technology for a seamless experience. Now the contactless become the need of the hour."
Talking about the customers, Mahesh added, “Consumers are resilient. They will remember if you have helped them. Trust cannot be built just now. We have built it over the years. Currently, people are looking for validation. Understand the consumer nerve and then disseminate the content accordingly.”
“Digital is the way forward and here to stay and we are excited about it,” concluded Mahesh.
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