Marketing in an era of highly connected customers…
D Shivakumar, Former Chairman and CEO, PepsiCo India Holdings Pvt Ltd. and CVL Srinivas, Country Manager, WPP India and CEO, South Asia, GroupM share their views on how mobile marketing has evolved to become an important factor to build and safeguard a brand’s trust quotient
Mobile marketing has become one of the most valuable ways to effectively reach customers in this age of attention deficit. Over the years mobile marketing has witnessed radical transformational and pervasive changes to help brands market and sell their products and services.
At a recent event, industry stalwarts--- D Shivakumar, Former Chairman and CEO, PepsiCo India Holdings Pvt Ltd and CVL Srinivas, Country Manager, WPP India and CEO, South Asia, GroupM shared their views on how mobile marketing has evolved to become an important factor to build and safeguard a brand’s trust quotient.
Sharing his insights on the subject, CVL Srinivas stated that a lot of churn was going on for the top 50 brands in the country in terms of value. According to him, 25% of them are new which means almost 12-13 brands have gone out of the list of top 50 brands in terms of brand value in just 3 years.
“The good news is that the brands which stayed are doing well and have done phenomenally good, that means about 21% of the brands have done really well especially in the last 1 year which has been marked as the highest growth globally. The second thing is the emergence of local brands in India and they are typically over indexed compared in terms of incremental values etc. Because of all of this, trust is somewhere emerging to be the key factor that determines a lot of brand success”, stated Srinivas.
Sharing his thoughts on the subject, D Shivakumar spoke about how marketers could safeguard trust which has become the biggest differentiator in brand building.
Explaining how brands could build greater connect with customers in this age of distraction, Shivakumar said, “I don’t think fundamentals of branding and what it stands for last 20-30 years have changed, but I think the conversation between the brand owner and the brand consumer has changed significantly. So if we look at FMCG companies, they are very asset driven. The value of FMCG company comes from the goodwill of the brand and the goodwill of the brand is directly transmitted to build the trust.”
With social media becoming a tool in the hands of marketers and consumers, the fact that brands need to be on an ‘always on’ mode is critical. The element of pro-active communication has taken a new meaning with the emergence of a highly connected customer.
“Today the consumer is on the watch so you have to be very honest and authentic about the brand and because of which a lot of noise is happening on social media. People will start to take digs at your brand and if you don’t respond to them other people will start actually believing those digs. So there is a thin line which a marketer has to recognize that can happen with very active social business. With very pro active communication your brand trust will definitely build”, added Shivakumar.
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube