MarTech Friday: How data can maximize ROI for growth & profitability of businesses
The panel, chaired by Sonya Sahni, had Hitu Chawla, Sagar Boke, Esha Nagar, Anika Agarwal, Sushant Mishra, and Apoorv Sood
In the MarTech Friday League held yesterday, exchange4media hosted a webinar on the topic 'Maximizing Data ROI: Aligning Data and Business Strategy to Drive Growth and Profitability.
The session had a panel comprising Hitu Chawla, CMO, Microsoft; Sagar Boke, Head- Shopper & Customer Marketing, Tata Consumer Products Ltd; Esha Nagar, Managing Director, Nepa India Pvt Ltd; Anika Agarwal, CMO, Max Bupa Health; Sushant Mishra, Head Digital Marketing, Grofers; and Apoorv Sood, Vice President of Global Business Development and Partnerships, WebEngage. Sonya Sahni, Director, CEO, Pomelo Digital, was the session chair.
Commencing the discussion, Sahni quizzed the panelists on the importance of data in today’s times. Chawla said marketing sits at the intersection of data, business acumen and creativity for it to truly work its magic. “The use of smart data actually helped us improve our response time across all facets of good market," she added.
Boke added, “The first use case of data is to build efficiency and affinity of the consumer that we're targetting."
“Data helps us understand our consumers better, the behaviour on the platform better & this helps in right customization,” replied Mishra.
Talking about the digital upsurge, Sood said, "pandemic has shown that physical real estate is important. But in digital real estate, the percentage of online purchase behaviour has changed."
“We built use cases for customer acquisition, customer experience & efficiency,” added Agarwal.
Moving the conversation forward, Sahni delved into the topic of data filtering and ways to address quality issues concerning data. Chawla responded, “The best form of targeting that most are able to do is which accounts to go after and probably the specific titles and personas in within those accounts."
Putting the spotlight on customer behaviour, Boke said, “In consumer research, the consumer never tells you how they actually feel. We have been extensively using annual research because the voice can lie but the mind can never lie".
Adding another perspective, Nagar added, “The social cultural nuances in the country are so vivid that if we just have to depend upon third party data, which is already existing, it is just not the best ideology. Carefully deriving the algorithm of answering questions like where to play & how to win, which are the costs that you are playing with, and what are the touchpoints and omnichannels you are using to crack them up is the way to go.”
Sahni concluded the discussion by adding, "Quantifying the ROI of data is quintessential to measure growth and profitability of business outcomes.”
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