Guest Column: Demonetisation and Consumerism - Naresh Gupta, Bang in the Middle

In a country where credit card is a status symbol, going plastic in transaction is not something that can happen overnight. Is this an opportunity for the brands to connect with consumers in new way? Can demonetisation become the new anchor for driving brand conversations? – writes Naresh Gupta, CSO, Managing Partner at Bang in the Middle

e4m by Naresh Gupta
Published: Nov 30, 2016 8:02 AM  | 5 min read
Guest Column: Demonetisation and Consumerism - Naresh Gupta, Bang in the Middle

India has pulled out about 86% of its circulated currency one fine evening. India’s economy is 90% plus tells you that this move is bold, audacious, and as people, we have no option but to wait and watch what it will lead up to.

In a country where credit card is a status symbol, going plastic in transaction is not something that can happen overnight. While a large part of country has phone connection, only 17% have smartphones. Low penetration of smartphones is an indicator of how small the opportunity for mobile wallets as a category is in India.

This is not an easy time for consumers in India. Spending money requires them to stand in queues first. The comfort of feeling printed papers in the wallet is transient. Money is a perishable commodity and consumers have to be prepared to stand in queue again.

Is this an opportunity for the brands to connect with consumers in new way? Can demonetisation become the new anchor for driving brand conversations?

 8th November: Black Friday for India

India till now does not have a day that can be the ultimate consumerism day. Yes, there is a Diwali, and Dhanteras for gold, but they are not nationwide event as the Black Friday sale is in America. 8th November has the potential to be celebrated as one from here on. Blessed by the highest office of the land, we can even have the PM endorse it and give it national approval. The day that changed the wallets of India, needs to be celebrated every year. The opportunity is massive; the potential is enormous for sale that celebrates this event. Like the way people have taken stand, pro and against, they can do the same for sale every year. The pro people can shop and those who are against can stand in queue outside ATM machines to relive the moments of not having any money in wallet. The only rule that should be mandated for this sale is that this should be a zero cash sale. Anyone tendering cash or accepting cash should be termed anti-national and shamed on social media.

The sale can have some rules

The sale has to celebrate the momentous event and it has to recreate the conventions that have become a part of this movement. The sale has to start with a set of rules on day one, day two should have a new set of rules, day three another, and by day four, the rules of day one should be completely demolished. This is a terrific way to keep the potential consumers on their toes. The shoppers’ by now have got used to a fluid set of rules. This is apt for us, as we are used to living in a scenario where rules are fluid and new announcements are made every day.

Can you make the cash last long?

Many among us have taken the challenge to truly live the life devoid of cash. Post cash turning into plain paper, people have discovered that if paper currency is actually excess baggage and life that is lighter is better lived. This can become the challenge that the brands can launch. Imagine a bunch of brands launching special rewards for those who manage to keep the same cash in wallet as they had before the shopping festival. This will let people post on social media their expertise in cash management. With cash becoming increasingly scarce and not favoured, this would be a neat challenge for the consumers to face. With the lessons learnt from living without cash, this may prove to be a breeze, so may be brands can add to the challenge. Can you grow the cash? Can the virtual money in wallet outstrip cash? As I said, there are possibilities that didn't exist till now.

Fall out of line

There is increasing concern among the ruling class about the lawlessness in the citizens. Despite taxing them and making sure that the money is passed to individuals after the taxes are deducted, the ruling class is not sure if they have been able to recover every penny. In a society driven by rule of law, those who find ways to step out of line will be caught and punished. Now with the distinction between those who fall in line and those who don’t, we have new opportunities for the brands to leverage. Imagine brands launching interesting promotions about how to ensure that you get more than what you pay for.

In a society where passing judgment is preferred to indulging in debate, demonetizing is the best thing that could have happened. Those who run the economy passed a judgment and those who run social media also passed a judgment.

Now that is something that deserves cash awards.

(The author is CSO, Managing Partner at Bang in the Middle)

Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com

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E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur

The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more

e4m by e4m Staff
Published: Oct 27, 2023 6:15 PM  | 1 min read
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With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.

The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.

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Swapan Seth's new book 'COOL' is out

The book is a reflection of the author's 'eclectic taste across categories'

e4m by e4m Staff
Published: Oct 27, 2023 6:07 PM  | 1 min read
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Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."

The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."

COOL has been published by Simon & Schuster India and is available on Amazon.

Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.

He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.

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Disney Star signs 9 sponsors for Asia Cup PAK

Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board

e4m by exchange4media Staff
Published: Aug 26, 2023 11:48 AM  | 1 min read
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e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.

Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.

According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.

As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.

A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.

Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.

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Sorted 360 wins creative & social media mandate of Reliance Mall

The agency will manage offline and online campaigns for Reliance Mall

e4m by exchange4media Staff
Published: Aug 26, 2023 10:54 AM  | 1 min read
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Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.

“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.

“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.

"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."

"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."

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e4m by exchange4media Staff
Published: Aug 25, 2023 4:39 PM  | 1 min read

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e4m by exchange4media Staff
Published: Aug 25, 2023 4:38 PM  | 1 min read

KlugKlug onboards Hemang Mehta as Country Manager for Indias

Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments

e4m by exchange4media Staff
Published: Aug 24, 2023 3:35 PM  | 1 min read
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KlugKlug has appointed Hemang Mehta as its Country Manager for India.

Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy

Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.

Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."

Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."

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