Pitch CMO Summit: More personalized you get, more authentic you need to be: CVL Srinivas
At Pitch CMO Summit 2019 held in Chennai on Friday, CVL Srinivas, Country Manager, India, WPP, decoded what it takes to reign over consumers' hearts through powerful personalization
As the marketing buzz shifts from the Internet of Things to the Internet of Me, consumers are increasingly becoming the architects of their hyper-personalised empires. So how can forward-thinking marketers embrace creativity in this connected world while going beyond traditional marketing and tick all the right boxes when it comes to personalization?
At the Pitch CMO Summit 2019 held in Chennai on Friday, CVL Srinivas, Country Manager, India, WPP, in his special address on ‘Getting Personalization Right’ shared insights on the same.
If recent research reports are anything to go by, consumers like personalization, pointed out Srinivas. “They like personalization. They don’t mind getting advertising or communication which is relevant data for them,” he said. However, he revealed that brands were still struggling with personalization. “59-60 per cent brands don’t even get data or information on a consumer’s life and that hurts business. Over 50 per cent consumers who get wrong piece of information from a company or brand stop reading communication from them,” Srinivas said as he shed light on why getting personalization is important for marketers, more than ever.
He asserted that when creating campaigns it’s essential to make effective use of data.
According to Srinivas, US-based Dollar Shave Club remains the best example of personalised marketing. “It started as a simple subscription service to buy a razor and went on to disrupt the market.
As you know one or two brands had the lion’s share of the market. But here came Dollar Shave Club that changed the game. The brand has now been acquired by Unilever. They changed the rules of brand marketing and communication by bringing in an omni-channel approach, creating two-way communication between the brand and customers that helped them build unique value for their customers.”
To Srinivas, authenticity is a factor that can’t be overlooked here. “The more personalised you get, the more authentic you need to be, you need to create something which is of value for customers,” he opined.
Another key element, Srinivas stressed was about partnering the consumer through the entire journey and building a holistic experience for them. With interesting examples of Ford’s work in that space, he asserted, “It just goes on to show how by combining data, consumer and challenges of the category, there can be an end-to-end programme worked out that bonds the customer and product together event after the point of purchase.”
Sharing another interesting piece of work, he remarked, “With personalised content, results are far better.” He added that the said campaign helped the brand fetch 50 per cent lift in ad recall and 11 per cent lift in favourability which says a thing or two about the beauty of personalisation and how it gives brands an edge over communication or campaigns that are not personalized.
“Don’t just sell products, partner your customer through their journey with the brand and provide value through communication,” Srinivas advised. According to him, the big, key takeaways to get personalization right entail right investment in data and technology, going beyond the data by looking at omni-channel, recognising customers, being authentic and providing customer experiences with personalized content that remain a strong draw to master the game.For more updates, be socially connected with us on
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