Social 'value' over 'volume', customer connect key to digital advertising: Shalabh Saxena
Shalabh Saxena, COO, Canara HSBC Oriental Bank of Commerce Life Insurance Company says that brands and advertisers will have to move on from ‘one size fits all’ mindset in the digital age
Shalabh Saxena, Chief Operating Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company, urges brands to make the most of digital marketing using mobile, social media platforms and online videos. At the heart of it though, he advises brands to focus on consumer experience. Saxena is a jury member of exchange4media’s Indian Digital Media Awards (IDMA) to be held on June 16, 2017. He shares his insights on trends highlighting the digital advertising space, what brands must do differently and more in the following excerpts:
What key trends do you see in the digital advertising space today?
The digital advertising space is highlighted by four major trends. First, there is a digital consideration for everything we do today, so marketing initiatives need to be aligned to that. Also, specific revenue outcomes are much better aligned to digital marketing initiatives. Next, we cannot undermine the importance of the mobile device. It is one of the fastest growing media channels allowing consumers to reach marketers with a flick of a thumb. This has resulted in redrawing of marketing strategies, and has caused a fundamental change in the relationship between brands and consumers. The key is to be there in those micro-moments to capture the consumer’s attention. The handheld or mobile device will continue to hold centre stage in the next few years.
The third trend is that of the social platform. The expectations on a social platform are no longer limited to “awareness” or “connect”. An increasing number of consumers want to use the platform for complete engagement (including customer service) as they spend the maximum time on these platforms. This leads to higher engagement even if there are smaller audience groups on social platforms. They may be smaller but they are certainly relevant. In the next level, the use of targeted influencers to reach specific audiences can also give rise to content collaborations. Nobody could have thought a decade ago that gaming content can have brand partnerships for reach.
Lastly, online video marketing is here to stay. It is an efficient, sustainable and cost-effective storytelling medium that is also easier to consume. It offers LIVE or streaming experience, which adds to the impact. Video views coupled with the growth of mobile phones presents a huge potential.
What must brands do differently to get noticed on digital and retain consumer attention?
Brands must focus on consumer experience. It is the only way to build loyalty and advocacy for a brand. It is an engagement to provide convenience and a unique opportunity for innovation as well.Translating value to the business is fine but there needs to be a value-add on both ends of the transaction.
Consumer experience without meaningful content is like a movie without a story but brands are based only on a consumer story, right? However, to provide value to consumers, their demands need to be met through genuine content along with the brand’s message.
Brands must also use social media to amplify genuine consumer stories or testimonials. It will reach the target audience and connect with them automatically.
From a creative perspective, where are the Indian agencies going right or wrong?
Short-term goals are making the communications “noisy”. A long-term view of the customer relationship and engagement should be considered to avoid disengagement with ads. The ecosystem in the country (not just the agencies) needs to cross this bridge.
What is your advice for brands to get their message across through the clutter?
Gone are the days of “one size fits all”. The digital age demands the communication to be personalized. Campaigns need to be designed with a specific target individual and device in mind, and advertisements need to be customized and personalized for overall messaging.
How do you plan your digital advertising campaigns? What are your expectations of your agency in this regard and what kind of ROI do you look at?
Apart from the right content, best-in-class consumer experience and personalized communication, another crucial aspect will always be data and its segmentation. While we have evolved in acquiring data, we are refining the next step that is personalized communication.Our spends are going to be higher in the first three years of business as we are in our second year of a full-fledged launch on the digital medium. Over a period of 2–3 years, we would be looking at an ROI upwards of 25%.
IDMA 2017 will be held on June 16 at Taj Santacruz in Mumbai. This year’s edition will also feature a full-day conference, TechManch.
More details about the event can be found here -
http://www.exchange4media.com/events/idma-2017/home.aspx
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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
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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ShareSwapan Seth's new book 'COOL' is out
The book is a reflection of the author's 'eclectic taste across categories'
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 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
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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KlugKlug onboards Hemang Mehta as Country Manager for Indias
Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments
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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