TechManch 2019: Industry experts discuss the journey of digital marketing
The panel moderated by Tata AIG General Insurance’s Jayraj Jadhav included several heads of the marketing industry
The first day of TechManch 2019 was an interesting place to be for Technocrats, Digital Marketing, Advertising and Brand Heads as they came together on the discussion panel for ‘Digital Marketing: then, now and next’, which kind of summed up the entire journey of digital marketing.
Moderated by Jayraj Jadhav, VP, Head Marketing & Digital Business, Tata AIG General Insurance, the panel included Sachin Killawala, Director, Marketing, Nivea; Vivek Sharma, CMO, Pidilite; Nipun Kaushal, CMO, PNB Metlife; Shamsuddin Jasani, Group MD, South Asia, Isobar; Pallav Jain, Co-CEO, Performic India; Sanjay Mehta, Joint CEO-Mirum India and Mangesh Panditrao, CEO, Shoptimize.
Jayraj Jadhav began the discussion saying, “With the digital shift that the industry is experiencing from content, performance marketing, technology, data, to the agencies who have pioneered it, to brands involved in the entire gamut of digital marketing, I think digital has taken the centre stage today. So looking at key parameters that have changed the digital landscape in the last five years are the technological advancements, emergence of data, fine tuning of performance, also how the right brain contributes to create the creative content for a brand.”
Sharing his insights, Shamsuddin Jasani said, “I think the word digital is slowly disappearing I must say, in terms of what is traditional media and what is digital media. So we see Isobar is no more a digital agency. Now our clients and partners are looking at not only digital but digital-first solutions, which were not there in the past when we were just an agency which would work on advertising on traditional media and then add digital in the media plan. We, as partners, can help our clients to enhance businesses and not just look at only where the advertising or marketing is happening. Digital is not a medium for communication, information dissemination, getting leads, or selling a product. Digital today is also the way in which you can conduct your business and that's the way ahead."
The panel also discussed digital media in terms of content consumption.
According to Sanjay Mehta, “Consumption of content is happening exceedingly on digital devices, be it reading newspapers on smartphones or television content consumed through YouTube or OTT platforms. Also, digital-only content is being consumed largely. Today, people are exploring digital leads performance, sense of good creation, ideation and expression combined with the right usage of creativity and technology helps to deliver the best results to the brand."
Sachin Killawala further spoke about how earlier the media strategy was that if you invest in a certain way you create demand to make money out of advertising but that in the digital age this formula doesn't work. “We need to create certain creative ideas, which is going to change the way we tell the story by understanding the medium in which the story is told. So it's not that we create a masterpiece and show it to the consumer, but the consumer is telling you what they like to see or not. Thus, it has become much more easier for the consumer but much more challenging for the marketers."
Next to speak on the panel was Mangesh Panditrao, who sai: "What we have seen is the journey of credibility of digital marketing and its success in the last few years. It’s the era of personalisation to tell one story in multiple ways and multiple stories to multiple audiences, and that’s how digital has achieved the reach.”
As per Vivek Sharma, in board rooms everyone loves digital because it’s measurable. “Digital was earlier being used for performance marketing and for brand building, but now it’s used interchangeably as the boundary is truly blur. Also if a product has 8-10 uses, you can’t tell the story in the television or print. But in Digital you can do it very well and it’s the new way to connect with the young generation. In the future, it’s going to be CRM and Analytics. We must work together as an industry to develop common mediums of measurement.”
Pallav Jain next brought the focus on having one unified currency. “With the advent of Adtech, attribution techniques have given a whole new amount of measurability to digital. The next wave would be to bring CRM and Analytics. While the current challenge organisations face is that data is scattered, which needs to be funnelled together with data science and analytics plaforms, acquisition templates and engagement templates which is the way ahead.”
Nipun Kaushal said there were two aspects - one is digital and the other is digitisation. “We all know that insurance is a pushed product unless it becomes mandatory. So, for a digital marketing team or a digital agency it’s largely about ROI. The large insurance companies are backed by the mother brands. Thus, for a digital marketer it’s how to build the brand and also how to provide service to the customer. But at the end of the day, fulfillment also has to happen, so in that scenario digitisation plays a great role, as the sylos within the organisations have vanished and systems are more integrated. So, in future, the CDO, Chief Digital Officers actually formulating plans how to reach out to customers and what are the backend services to be provided to retain the customers and that’s the way ahead."
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