Today's marketers are certainly not curious enough: Harish Bhat, Tata
Bhat, Brand Custodian at Tata Sons, on the importance of curiosity in today’s times, which or rather who he thinks is the most enduring brand, and his new role as author
“In my view, today’s marketers are certainly not curious enough. They tend to rest on their laurels all too easily. Often, many experienced marketers think they know it all, and hence do not search in interesting new areas. They don’t spend enough time with their consumers, who are of course changing beneath their noses,” says Harish Bhat, Brand Custodian Tata Sons Ltd.
Bhat is a veteran marketer himself, having spent over 25 years within the Tata Group, talking about his recently launched book “The Curious Marketer”, he shares his views on why today’s marketers and brand custodians need to revive, their innate natural curiosity for better RoI, his pick of today’s curious marketers and more…
Edited excerpts :
Which are the brands besides the ones from the Tata stable you consider have been good examples of constantly re-inventing themselves and stay ahead of the curve? (could be Indian or international)
A brand that has constantly reinvented itself (or should I say himself), and has done so brilliantly, is James Bond. This is a brand that is over 50 years old, but see how different and contemporary Daniel Craig’s James Bond is today in the recent movie “Spectre”, compared to Sean Connery in the very first Bond movie “Dr. No”. The essence of James Bond continues to be the same (fearless, flirtatious British spy with a licence to kill), but note how everything else has changed – the technology, the settings, the cars, the gadgets that Q makes for Bond, and even the dapper modern suits that James Bond wears today. Because James Bond has been reinvented, he remains so very relevant to today’s audience, and hence virtually every Bond movie delivers a hit and makes a fortune.
I know this is an unconventional example, because it is not from the world of products and services, but 007 is surely an example that should inspire marketers to reinvent their own brands.
Do you think marketers today are curious enough? What are the real challenges they are facing today, in times when the role of a marketer itself seems to be undergoing dynamic changes?
No, in my view, today’s marketers are certainly not curious enough. They tend to rest on their laurels all too easily. Often, many experienced marketers think they know it all, and hence do not search in interesting new areas. They don’t spend enough time with their consumers, who are of course changing beneath their noses.
Younger marketers mistake digital surfing and data analysis for curiosity, which unfortunately it is not. Curiosity requires marketers to search, to observe, to reflect on these observations, and to internalise relevant insights and learnings from this voyage. How many marketers do this in today’s times ?
The biggest challenge that marketers face today is that their consumers are changing much faster than they are. When this happens, marketers will end up being sadly outdated.
Does this innate natural curiosity seem to take a back seat with the pressures of ROI, taking on a whole new meaning ?
Curiosity can deliver fresh new ideas to marketers, which can trigger new growth opportunities and fantastic Return on Investment (ROI) as well. An excellent illustration of this is a nice story about Steve Jobs that I have narrated in my book – how his curiosity led to the brilliant designs of Apple products, and this has eventually led to the creation of one of the most financially successful companies of our generation. Would anyone argue that Apple does not have good ROI, or acceptable market capitalisation, because it was born out of curiosity? Of course, the ideas that curiosity generates have to be validated, because each such idea may not yield acceptable financial returns. But without curiosity your starting point becomes that much weaker.
What is the insight behind Curious Marketer, what prompted you to write a book on this subject? What does it aim to do? When did you start writing it? What helped you write it?
The simple insight behind my book “The Curious Marketer” is that marketers who are curious have a far better strike rate at being successful. And every marketer can increase his or her curiosity quotient by following seven simple and practical steps, which I have explained in my book.
I wrote this book because I am a very curious person. I am curious about the places I visit, the people I meet, the food I eat, the teas and coffees I drink, the things I see around me. And for the past three decades, I have also been a very keen marketer in the Tata Group. So this book stands at a natural junction of my curiosity and my experience as a marketer.
The only objective of this book is for readers to get a glimpse of what a wonderful thing curiosity is, and how they can become more curious than they already are. All the fifty odd essays in this book try to nudge readers towards this goal.
It took me a little more than three years to write all the essays contained in this book. The Tata Group has a very supportive environment that implicitly encourages employees like me to embark on constructive initiatives such as this, in areas of our interest. I think this was clearly the single most helpful factor in the writing of the book. And then of course, since I write primarily over the weekend, it also helps greatly that my family always provides me the space and time that is so essential to good writing. I consider myself very fortunate that both my professional home (the Tata Group) and my personal home (my family) are both very encouraging of my desire and urge to write.
In your many years as a marketer what is your biggest learning ? In hindsight which is that one campaign/marketing decision you would take differently today given a chance?
My biggest learning is that any brand, any product or service, should be built on a sharp consumer insight. This consumer insight should reflect a key consumer need, or a problem in the consumer’s life that our brand can help solve. Sometimes, the consumer may be aware of the need, and sometimes she may not be explicitly aware. That does not matter. The brand should still discover the need, and one good way of figuring it out is to be intensely curious about people, because people are our consumers.
There are many judgemental errors I have made over the years, and many marketing decisions I would have taken differently, with the benefit of hindsight. One of these stories comes from early in my career as a marketer, over 25 years ago, when I helped launch a brand called “Brahmaputra” Tea. Unfortunately, this brand was not based on a very strong consumer need or insight, and so it does not exist anymore. On the other hand, other brands of tea that we launched, such as Tata Tea and Chakra Gold Tea, which were based on strong consumer insights, have gone on to become strong market leaders in India.
Who among contemporary marketers of our generation, lives upto the title of a ‘Curious Marketer’ in India and globally as well?
Many great contemporary marketers are “Curious Marketers” too. Steve Jobs of Apple. Xerxes Desai of Titan. Mark Zuckerberg of Facebook. Piyush Pandey of Ogilvy. Howard Schultz of Starbucks. Darbari Seth, who inspired the creation of Tata Tea and Tata Salt. Jeff Bezos of Amazon. Aamir Khan, whom I consider the marketing guru of Bollywood. All of them have been very curious marketers in their own spaces. I have had the privilege of seeing Xerxes Desai and Darbari Seth at close quarters within the Tata Group, and I know the restless curiosity that drove them, and helped them create world-class brands.
You have explained in a very interesting manner, how markers can learn from museums, can you explain this briefly for the benefit of our readers who haven’t accessed your book?
Around two years ago, I visited two famous museums within a month of each other. The Dr. Bhauji Daji Lad Mumbai City Museum, and the British Museum in London. At the Dr. Lad Museum, I was delighted to find the story of Mumbai city being told so enchantingly well through simple maps and exhibits, and a charming narration by our young guide. At the British Museum, there was a special exhibit on the history of Germany. Within an hour’s time, and through a few powerfully curated objects, the 600-year history of Germany had taken vivid birth in front of my eyes. When I reflected on these visits with a curious eye, I came to the conclusion that marketers can learn a lot about the art of storytelling from museums. Museums tell stories so much better, simpler and so much more powerfully than marketers generally do. In my book, I have narrated this entire experience, including the specific storytelling tips that marketers can pick up from museums.
Which is your favourite chapter in the book?
Of course, the story of coloured socks, that’s my favourite. I had always worn boring brown or black or blue socks to office, until, one fine day, my wife bought me two pairs of highly multi-coloured socks. I call them “highly” coloured because they had bright green, red, yellow and blue colours, all within a single pair of socks. I have narrated the curious voyage that these coloured socks led me on, and some of the very interesting learnings that coloured socks hold for marketers. To know more, please do read this chapter in my book, and I hope this inspires some new and curious ideas in your mind too.
Could you share with us any interesting anecdotes, that took place while writing the book?
One curious and interesting anecdote relates to the epilogue of this book. My publisher called me sometime during the Diwali festival of 2016, to ask about the epilogue, and by when it would be ready. I was in a car at that time, with my wife and 22-year old daughter, travelling from Delhi to BITS Pilani. I had no idea when the epilogue would be ready, because I had not even begun writing it. My daughter, overhearing the conversation, suddenly said – “Why don’t I write the epilogue ? I have seen enough of your curiosity at home, and I can talk about all this very well, I think.” When I suggested this to my publisher, he surprisingly accepted the idea immediately. So when you read “The Curious Marketer”, I am sure this irreverent and rather critical epilogue written by my daughter will greatly interest you, even as it informs you about what curiosity can do to a family and to a young girl. It also provides you a millennial’s point of view on curiosity. Curiously enough, I also think this is the first book ever, that has an epilogue written by the author’s daughter.
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Social Beat wins SEO mandate of Tata CLiQ tag rss
The account was won after a multi-agency pitch
e4m e4m Social Beat has won the SEO mandate for Tata CLiQ, one of the fastest-growing omnichannel marketplace in India. Social Beat has been entrusted with optimizing existing content, as well as launching new, optimized category pages systematically on Tata CLiQ’s platform to scale monthly organic traffic by 2x over the next year. The account was won after a multi-agency pitch and will be serviced by Social Beat’s offices in Mumbai.
Shishir Kataria, Director - Marketing, Tata CLiQ, “Shoppers, e-commerce or otherwise, continue to heavily rely on search and discovery throughout their shopping journey, be it engaging with the latest fashion trends or hunting for the best buys. No wonder a platform's ability to be a part of this journey organically drives significant consideration for it amongst potential shoppers. We, at Tata Cliq, are confident that Social Beat will help us develop and optimise content that is highly discoverable to grow our engagement and revenue. Our goal continues to be to drive more and more shoppers to our platform with optimised and curated products and relevant content.”
Vikas Chawla, Co-Founder, Social Beat said, “We are thrilled to partner with Tata CLiQ in their growth journey. We aim to scale traffic to the Tata CLiQ platform manyfold over the next year. Our team of specialised SEO and Content strategists will be working closely to achieve this”
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ShareWill OOH dazzle this festive season?
As the celebrations begin, experts tell us the trends and challenges for the OOH sector this season
Be it the flower-clad taxis in Mumbai for Made in Heaven Season 2 promotion or Zomato’s ‘kheer mangoge kheer denge’ billboards, India's OOH advertising sector has undergone substantial transformation and expansion in the recent years. Even though the medium was severely hit during the pandemic years, it has now managed to rebuild its status. Now, with the onset of the festive season, elections and the cricket world cup, OOH is expected to see more and more advertisers come on board.
Amarjeet Hudda, Chief Operating Officer, Laqshya Media Group, believes most of the clients spend a lot of money during the festive season, especially for Durga Puja, Dussehra and Diwali, targeting their customers in a festive mood. The categories that spend heavily during these months are Auto, Consumer Durables, Real Estate, Organised retail, and E-commerce.
According to Dipankar Sanyal of Platinum Outdoor, there was a huge surge in the festive season last year, and he expects the same this year too. “Last four to five years have turbulent for outdoor. It was picking up in 2019, but then Covid came and everything went flat for two years,” he mentioned.
According to EY-FICCI’s M&E Report 2023, OOH media grew 86 percent in 2022 to Rs 37 billion. The value includes traditional, transit and digital media, but excludes untracked unorganised OOH media such as wall paintings, billboards, ambient media, storefronts, proxy advertising.
Sharing the brand’s perspective, Shivam Ranjan, Head of Marketing, Motorola-APAC, said, “We are going into this festive season with a strong mix of media, including OOH. Within OOH, we are focusing on digital OOH, due to its capability of programmatic serving, measurability, and near real-time insights that allow us to be agile with the communication and optimisation of our campaigns.”
With urbanisation, improved infrastructure, rising consumerism and an increased spending power, clients' expectations from OOH advertising too have evolved. “The clients expect better ROI on every investment, best in class innovations, tech-led planning and execution. Today, technology plays an important role starting from planning the campaign, to measuring metrics to ROI,” Singh explained.
Another trend that Sanyal has observed is that traditionally advertisers looked at spending on OOH nearly two weeks prior to the festivities, but now, most advertisers have now started advertising a week earlier so that they can get maximum eyeballs. Additionally, the digital OOH advertising (DOOH) has also emerged big. The digital OOH screens increased to around 100,000 and contributed eight percent of total segment revenues.
“Now with digital, there is more space for advertisers to come in one frame. Because of this, you can see it is getting more attractive. The innovations too are coming in at a much lower cost and creating a greater impact,” shared Sanyal.
The only challenge with the medium, according to Ranjan, is OOH being a fragmented industry with lack of measurability and agility. This becomes a serious issue for ROI-centric brands. However, the growth of DOOH, which is dynamic, agile and measurable, is giving marketers the confidence to invest in the medium backed by relevant data and outcomes.
Adding to this, Hudda highlighted that availability of good media spots is the biggest challenge in this season as media assets are limited and demand is very high. Due to the gap in the festive season, many clients are not able to fully optimise their campaigns. Rather sometimes, clients are even compelled to divert their budget which adversely impacts the industry, he shared.
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Banking on positive consumer sentiment: BFSI optimistic on doubling festive AdEx : Cache
Some categories within the sector, however, may spend more in the quarter that follows the festive season
The BFSI sector is expecting a surge in demand for loan during the festive season and is looking at increasing its ad spends to cash in on the celebration spirit. Industry leaders say they are hopeful of witnessing a good growth in the number of applications for auto loan, home loan, credit card and health insurance during October, November and December due to positive consumer sentiment this year. However, though most of the BFSI players are planning to double their advertising budget this time compared to the previous year, there are some who are not investing too heavily on marketing during the festivals as they plan to save the money for the fourth quarter.
According to Shailendra Singh, MD & CEO, BOB Financial, they witness incremental growth every year during the October-December quarter, and they anticipate an increase in consumer spending as well as new enrolments for cards this year too. “There remains a surge in customer demand for credit during the festive season,” said Singh.
Singh shared that the company is fully geared up for the launch of #FestiveShoppingRewards on all Bank of Baroda credit card variants under the theme ‘Reimagine Festivities’. They would kickstart festive offerings with the start of Navratri.
The festive season does not just see the demand for credit go up, but there is an increase in applications for health and motor insurance too during this time of the year.
Aabhinna Suresh Khare, Chief Digital & Marketing Officer, BajajCapital Ltd, shared that among insurance products, health insurance and motor insurance reign supreme during festivals. According to Khare, the demand for mutual funds and SIPs too sees a hike.
“Overall, the festive season presents an opportune moment to secure insurance coverage. A plethora of attractive products and services are on offer, with financial institutions extending special discounts and promotions to entice new customers,” said Khare.
The company launched #BlessMeGanesha campaign during Ganesh Chaturthi. “Our goal for this festive season is not only to provide financial solutions but also to create memorable experiences and deepen the connection with our customers,” said Khare.
Though all major sectors spend heavily on advertising during the festive season, within the BFSI sector, some categories spend more in the quarter that follows the festive season.
Explaining the trend, Samir Sethi, Head of Brand Marketing, Policybazaar.com, said that the festive season has varying impacts on the BFSI sector. In the banking sector, for instance, the demand for loans surges as many individuals purchase items and undertake home renovations. Conversely, in the insurance category, the festive season doesn't result in significant changes. Instead, the insurance industry experiences its peak season after the festive period, particularly during the fourth quarter of the financial year.
“As the festive season approaches, there is a noticeable increase in car sales though, leading to a surge in the demand for motor insurance. Consequently, we see a significant uptick in the requests for motor insurance policies. During the festive period, there is an upswing in demand for various categories, such as electronics. However, in the insurance sector, this period doesn't significantly affect us, so we don't run specific campaigns targeting festivals. Nevertheless, we do roll out multiple campaigns throughout the year, and some of them may coincide with the festive season,” said Sethi.
According to the TAM AdEx report on BFSI sector across media for H1, the advertising volume of the sector grew on TV, radio and digital, but declined in the print medium. The report indicated that ad impressions on digital saw 91% rise during Jan-Jun '23 over Jan-Jun’22. The increase was 32% for radio and 4% for TV. The ad space of the BFSI sector decreased by 7% in print.
Speaking on media mix, Singh shared that BOB Financial has a good mix of customer segments belonging to Tier I, II and III. So, understanding their needs and preferred form of media channels, the company will reach out to them through relevant media promotions. “For the easy discovery of our offers, we shall have a dedicated offers page with regular promotion of top offers on our social media and other digital channels,” said Singh. Without disclosing the figure, Singh shared that the company’s promotion budget has surely increased from last year and it will be visible through their multi-channel promotional activities.
According to the TAM report, in the BFSI sector, life insurance is the leading category on TV and radio whereas mutual funds is the top category on digital.
Khare highlighted that in recent times, Bajaj Capital has observed a significant growth in audiences on online platforms and the changing preferences of their clientele. “This observation led us to recalibrate our marketing approach, placing a heightened emphasis on digital avenues,” said Khare.
He further added, “Our promotional efforts are primarily digital-focused, accentuating areas like social media engagement, search engine outreach, content-driven marketing, and targeted online advertising. As we approach the festive season, we've fine-tuned our online approach. By harnessing the insights from data analytics, we aim to grasp our clients' needs and inclinations better, ensuring our content is both tailored and pertinent.”
Khare also mentioned that Baja Capital has doubled its advertising budget compared to the previous year.
“This increase in our ad spend signifies our confidence in the opportunities this festive season presents. This impressive surge in our budget allocation underscores our dedication to maximizing the potential of this festive season and driving significant expansion within our business. We firmly believe that this increased investment in advertising will not only elevate our brand presence but also lead to an exceptional uptick in customer engagement and sales.”
For Policybazaar.com, the media strategy primarily involves a blend of television and digital platforms, an approach that has remained consistent in recent years and is expected to continue in the foreseeable future.
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OMD appoints Dileep Raj Singh as Head of Digital for APAC
Singh will report to Charlotte Lee, CEO of OMD APAC
OMD has added a Head of Digital (HOD) to its Asia Pacific (APAC) regional leadership team with the hiring of Dileep Raj Singh.
Singh is a digital native and brings with him a wealth of experience across product, media agency and client side in APAC, North America and the United Kingdom. His last 10 years have been spent building diverse digital marketing teams covering areas like performance marketing, digital media planning, ad/martech, product marketing, branding and measurement.
As HOD, he will accelerate OMD’s digital leadership agenda, rooted in helping clients address their business challenges and digital ambitions. He will be supporting OMD’s local teams in APAC on operational excellence, and digital transformation frameworks and roadmaps; and the development and implementation of our digital leadership agenda. He will also be working hand in hand with both our regional and global networks to initiate complementary workstreams for our clients in APAC.
“We will continue to invest and win in digital as part of our wider goal to be our clients’ most trusted business transformation partner,” said Charlotte Lee, CEO of OMD APAC.
“It is our global ambition to continue our leadership position in digital, data and technology. In line with this ambition, we are excited to have Singh come on board the OMD APAC leadership team. His background of agency, in-house and start-up experience position him perfectly to understand and address our clients’ business needs,” added Lee.
“Digital media and access to our audience, as we know it, is changing quite rapidly around us. This puts most of us in a delicate but remarkable position, a position from which we can shape and contribute to conversations about the next evolution of digital media. As we embark on this journey, I want to leverage the strength of the OMD network – people, technology, data, tools and platforms – to help our clients pivot and navigate through all the new and evolved possibilities in digital media. With this, I aim to position OMD as an unrivaled partner for our current and future clients; to dominate and succeed in this incredibly competitive and multifarious digital realm,” said Singh.
Singh will report to Lee, and work closely with the team including Chief Strategy Officer (CSO), David McCallen, and Chief Client Officer (CCO), Sadhan Mishra, to drive and support APAC local markets as well as regional clients on digital, data and technology needs.
Mishra was promoted to CCO of OMD APAC recently in June 2023. He will continue to be CEO of OMD Singapore, a position he was promoted into last August. Mishra has been with OMD for over 13 years and in his concurrent new role as CCO, he will focus on key client relationships, understanding their business needs and ensuring we remain a critical partner on their transformation journeys.
McCallen was elevated to the role of CSO of OMD APAC in April 2022, and was previously the CSO of OMD New Zealand for five years where he helped the agency to attain the top place in the market for new business, overall billings and award wins. Since starting in the APAC role, his focus has been on connecting and elevating strategic best practices across the region, building capabilities across a range of strategic outputs, and supporting new business growth both regionally and locally.
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Chandrayaan 3: Brands over the Moon
Some of the best moment marketing posts on India's crucial lunar mission
The nation is in a celebratory mood with its moon mission Chandrayaan 3 making its smooth landing on the lunar surface on the evening of August 23, 2023. The Pragyan rover is in pursuit of discovering water on the moon and is a vital feat for India's ambitious space research.
To celebrate this momentous episode in Indian space research history, netizens have taken to the internet to express their excitement, hopes and fears for the nation's lunar mission. Joining them are brands who have crafted creatives to mark the historic occasion and capture the emotions of the nation who have their eyes set on the moon. Here is our pick of some of the best Chandrayaan 3-moment marketing posts.
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BCCI rakes in Rs 4670 cr in Women's Premier League team auction: Jay Shah 26 Jan
WPL has broken the inaugural auction record of Men's IPL in 2008, tweeted Shah
As expected, Wednesday turned out to be another historic day in Indian women's cricket with BCCI having a windfall gain of Rs 4,600 crores by auctioning five team franchises for the first season, a higher sum compared to what men’s IPL franchises offered to the cricket body during the launch in 2008.
Adani, IndiaWin Sports, Royal Challengers, GSW- GMR cricket and Capri Global have won the bid, BCCI secretary Jay Shah tweeted.
Shah shared in a series of tweets, “Today is a historic day in cricket as the bidding for teams of inaugural #WPL broke the records of the inaugural Men's IPL in 2008! Congratulations to the winners as we garnered Rs.4669.99 Cr in total bid.”
“This marks the beginning of a revolution in women's cricket and paves the way for a transformative journey ahead not only for our women cricketers but for the entire sports fraternity. The #WPL would bring necessary reforms in women's cricket and would ensure an all-encompassing ecosystem that benefits each and every stakeholder.”
“The @BCCI has named the league - Women's Premier League (WPL). Let the journey begin…”
The country's top corporates had bid aggressively for the league. Over 16 groups including IPL franchise owners, Adani group, Torrent and Haldiram were believed to be in the fray.
Given the popularity of IPL in India, the event is touted to be a big draw for all stakeholders involved.
The BCCI was reportedly expecting ₹4,000 crore gain through team auction.
It’s noteworthy that Viacom18 has won the Women's IPL media rights for Rs 951 crore for the next five years creating euphoria around the league whose first season will be held in March.
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