ICMA 2016: Marketers deliberate on how to measure the impact of Content Marketing on businesses
The panel comprised of Devendra Deshpande, Sonali Malaviya, Akash Banerji, Vasantha Kumar, Sunil Buch and Pankaj S.Parihar
The exchange4media Group held its inaugural Indian Content Marketing Awards (ICMA) on Wednesday at Hard Rock Cafe, Mumbai.
The gala awards ceremony kick-started with a panel discussion and the topic for the session was ‘Content and Conversations- How to measure the impact of content on businesses’. The session was moderated by Devendra Deshpande, Head of Content Plus, Mindshare and the other panellists were Sonali Malaviya (Country Marketing Head , Twitter India), Akash Banerji (Head of Marketing & Partnerships @ VOOT, Viacom 18 Digital Ventures), Sunil Buch (Chief Business Officer, ZEEL),Vasantha Kumar (Director of Marketing & Communications, India South Asia, IBM) and Pankaj S. Parihar (Head, Digital Marketing, GCPL & Godrej Group).
Devendra Deshpande summed up the discussion on the note that advertisers are looking for content as a serious annual strategy. “Whether it is the broadcaster, publisher or the advertiser, today everyone is in sync and in the years to come, we will see more and more of great content,” he said.
Excerpts of the discussion:
When we speak of content, what are the metrics which we are chasing? What is the outcome which the brand is expecting?
Kumar: Digital and content allows you to measure things literally at every step. The kind of insight that you would get is going to be extremely valuable in sort of helping to make the next set of decisions. The idea is not to get caught with the data, but to actually use that to make really simple decisions on what is working and what is not. We are living in a very interesting age and we are moving into an era, where we are connected to multiple touch points and all of this would require content in some form or the other. The role of the advertiser, marketer or publisher here is to deliver a single message and that has to be a story. Finally, great content is about great story telling and therefore, you need to keep your measurement system sophisticated but simple.
Marketing and messaging needs to move from communicating facts and claims to telling a brand story. I do believe that every brand has a compelling story to tell.
Parihar: Clearly content marketing is the new kid on the block. As a marketer, would I like to measure it? Definitely because I am investing money in it. But do I know how to measure it? Probably not. But I would like to take the leap of faith and try content marketing. Probably in a year or so, we will have something to measure it properly.
What are the opportunities for advertisers, when they talk about using your platform?
Buch: At Zee, we are screen agnostic and I believe we can provide a solution to brand whether on mobile or a desktop. We are in the business of great story telling, so make great content and let people pull it out as per their convenience. Don’t device content as per any particular screen. It is a win-win situation when brands, agency or the publisher, come together to create great content.
Banerji: Digital gives marketers abundant data which helps them to make prudent decisions instantly. Every e-commerce company seems to claim these days that they have numerous app downloads, but in a country where 70-80% of the apps gets uninstalled in less than a month, what matters is an active user base. We had two driving philosophy for launching VOOT. Firstly, to make every moment of entertainment the best it can be and secondly, if there is great content then distribute it properly. I believe content creation and content distribution cannot be segmented.
There should be an in-depth understanding of not only on how the viewing dynamics are changing, but why they are changing. Two things which stands more truer today are- content is the king and second, consumers are increasingly going to command greater control and personalisation of their viewing.
What are the challenges that Twitter faces in the Indian market?
Malaviya: In India, we explore each medium and device communication strategy pretty well, what we don’t do is pull back to a brand objective and device platform neutral strategy which will then work in tandem. For e.g. TV and Twitter work very well and to give a recent example would be, people were watching Olympics on TV, but conversations were happening on Twitter. But did any brand try to leverage on it? Probably not in a well-thought through manner because no one was thinking platform neutral.
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