Pitch CMO Summit: We are trying our best to map consumer touch points, says Sanjeev Nikore
Nikore, Global Marketing Head, Tech Mahindra talks about how marketers today need to exploit the power of technology to provide better personalisation and more customised consumer experiences
The IT industry has come a long way in terms of marketing to a global audience and delivering connected experiences, from a time where India as a country had to be marketed first to the Indian IT industry now being valued at over $165 billion.
However, some of the key challenges for marketers across the industry today remain how to exploit data, how to engage the consumer and how to deal with exploding connectivity.
Talking at the Pitch CMO Summit in Mumbai about how IT companies like Tech Mahindra are able to leverage data and analytics to provide a better customer experience, Sanjeev Nikore, Global Marketing Head, Tech Mahindra said, “According to research captured by top data consultancies, content and experience, analytics and data management remain the key priorities for marketers in terms of delivering consumer experiences. Within this, using analytics effectively is crucial – which involves first collecting good data, then building a strong data foundation, using the data to create strong insights and then using this to market to the consumer. Basis this, there are several channels for marketing, including omnichannel marketing, offline, online, print, real-time, social media, email marketing, personalisation and advertising to reach out to the consumers.”
Of all these marketing channels, the importance of personalization or individualization cannot be emphasized more, and in fact it is here where most marketers fail, he said. In various studies conducted, most marketers today still use only basic email marketing as a customisation and personalisation tool to reach out to consumers, which is just the tip of the iceberg, Nikore added.
Talking about how Tech Mahindra creates more individualisation to engage with its clients, Nikore says, “We try our level best to map all possible consumer touch points and capture all interactions to develop a better consumer profile using analytics that is real-time, contextual and intuitive.
Another thing we do is that whenever we are meeting a CIO or CEO, we actually use some tools to analyse their social profiles (based on their social media pages) and then once we map this, we are able to create cues to interact better once we meet the person. Moreover, we also do a lot of contextual campaigns that are data-driven, analytics-driven and content-driven to provide more meaningful messaging that is specific to customer needs.”
According to Nikore, some examples of iconic global brands which have perfected personalised marketing are Ikea, Amazon, Macy’s Topshop, and Mall of America.
Ikea uses digital catalogues, virtual reality, image recognition, and augmented reality, among other technology tools to help a consumer visualise and plan their home through a complete digital experience, which has resulted in 15-20 per cent of their sales today coming from digital marketing.
Amazon, on the other hand, sees 35 per cent of sales from its recommendation engine which uses data, artificial intelligence and machine learning to track viewing and buying habits to push products customised to individual customer preferences, he pointed out.
In a similar manner, Mall of America has chatbots in the store which act as navigators pointing customers to exactly what they are looking for, helping them save time and ensuring they have a more fulfilling shopping experience.
Disneyland, too, has a mobile application which displays the waiting time for each ride based on machine learning to enhance consumer experience, while Macy’s tracks the personal preferences of consumers in a particular region so that each of its stores sells to customers area-wise. Topshop, too, uses Twitter, virtual fitting rooms, and more for a personalised consumer experience.
Finally, talking about how the role of advertising needs to change to keep up with increasing data intelligence tools, Nikore said advertising will need to make use of technology tools like augmented reality, analytics and more to ensure it continues to strengthen brands while creating maximum impact and targeting the right audience.
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