IBC: Marketing at its best does not feel like marketing: Rachana Panda, GE
At the India Brand Conclave 2018, a discussion on B2B marketing witnessed some insightful points being raised about the re-imagined approach that is now defining the industry
Consumer facing brands have dominated the narrative of marketing for a long time. However, with technology impacting marketing dynamics, the B2B marketing is witnessing innovation like never before.
Over the past few years, the B2B marketing has become disruptive, though not in the same way as B2C, but still significantly. At the recent India Brand Conclave 2018, a discussion on 'Marketing Effectiveness: How B2B Brands Look at it' witnessed some insightful points being raised about the re-imagined B2B marketing that is now defining the industry.
Watch the session here and scroll down to read:
Speaking at the session, Rachana Panda, Chief Communications Officer & Citizenship Leader, GE South Asia said, "I believe that marketing at its best does not feel like marketing. For B2B it is the same. It's only when we look at the measurement that it is different because many of the B2B products do not require pure direct marketing. Also, marketing for B2B has a lot to do with market assessment and go to market strategy. The similarity between B2C and B2B is that we are competing in the same space for eyeballs, attention and stickiness.”
Explaining how B2B brands were leveraging technology for greater outreach, Panda added, “The type of technology that we use is no less than any B2C brand, whether it is Artificial Intelligence (AR) or Virtual Reality (VR), we use all kinds of platforms. In fact we compete so much with B2C brands in terms of attention that we have to think beyond. When we were moving towards digitization, from industrial to digital, we started looking at predictive analysis in a manner that people could understand.”
When asked about innovation and B2B brands, especially for mature brands like GE which have a strong reputation in the market, Panda said, "Mature brands do have their own nuances and they have to keep in mind a lot of things beyond marketing. If everything else is orderly and process oriented, then it easy to do a little bit of disruption. If you look at all the ad campaigns that GE has done over the last 100 years, almost all of them are very disruptive in terms of formats, channels or working with agencies. In fact we learn a lot from the agencies. Also the culture of our organization is very innovative and we move fast when we fail.”
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