TechManch, in 2019, returned with its third edition bringing together industry experts in marketing, advertising & the media fraternity to discuss all things digital. The event provided expert insights into the trends of Digital Marketing, and how brands can leverage it to connect to their consumers in a better, more targeted way.
The day began with the Special Address which was delivered by Mr. Vikas Agnihotri, Country Director, India Sales- Google on the topic- ‘Change before you have to’. He talked about how digital has now become mainstream and tools like Personalization, Artificial Intelligence, and Machine Learning are helping to increase the efficacy of processes. Vikas very rightly remarked about personalization-
The sound of two things make you most comfortable
-Sound of your name
-Sound of your language
AI & Machine Learning are helping simplify processes and increase efficiency
Following the Special Address was a CMO Roundtable discussion on ‘Personalization’ amongst Mr. Ajay Dang, Jt. Exec. President & Head Marketing- Ultratech, Mr. Vishal Subharwal, Exec. V.P. & Head of E-commerce & Digital Marketing- HDFC Life and Mr. Yeshwanth Nage, Founder- The Thickshake Factory. The theme of the discussion was the increasing importance of personalization in marketing.
As per reports, 52% of consumers are likely to switch brands if a company doesn’t personalize communications.
Personalization is a core pillar of marketing. Mass marketing with zero personalization is passé
In the food industry personalizing brand for every occasion is the key
A perfect example of Yeshwanth’s point would be the very successful AI e-commerce personalization campaign Shoptimize ran for Haldiram’s. Contact us for the case study.
Finally, it was time for the Super Session on Digital Marketing: Then, Now, Next- a panel discussion on the past, the present & the future of Digital Marketing. The session commenced with opening statements from the session chair Mr. Jayraj Jadhav- V.P. & Head of Marketing & Digital Business- Tata AIG. The panel consisted of experts across different sectors of the industry and featured the likes of Mr. Mangesh Panditrao, CEO- Shoptimize, Mr. Sachin Killawala, Marketing Director- Nivea, Mr. Vivek Sharma, CMO- Pidilite, among others.
Mangesh, drawing from his experience, pointed out how Digital Marketing is enabling personalization marketing to a very micro level. He explained that when Shoptimize started with Digital Marketing years back, it was not considered very credible or useful. Traditional Marketing still dominated most of the industries and Digital was tapped into on a very superficial level, used mostly for branding purposes. But, since then, it has grown rapidly. Marketeers are realizing the advantages that digital provides, now that it has become more mainstream. Enabling profiling and personalization, measurability, extremely targeted campaigns, etc., it is creating a lot of opportunities for brands to leverage.
Earlier, brands could only undertake limited personalization and customization in their communications. But digital allows brands to measure the impact, reach, how well a certain communication is performing, compare different forms of similar communication and much more. Such metrics open up room for improvement as well as personalization. Mangesh captured the point perfectly, stating that earlier there was only a single way for brands to tell a story. But now, multiple brand stories can be communicated simultaneously through multiple channels to reach different audiences.
To tell one story multiple ways, or even multiple stories to multiple audiences in multiple languages, that is what Digital lets you do.
Elaborating further, Mangesh cited the phenomenal success that Shoptimize has achieved for brands through designing personal user experience in e-commerce and using AI tools. He shared the story of one such campaign, where, for a brand based in Bengal, Shoptimize customized the details on their website according to the location it was being accessed from. Users from West Bengal saw the banners and accompanying details in Bengali, users from Andhra Pradesh were displayed the details in Telugu, etc. Eventually, it was observed, that although Telugu increased the conversion rate for users from Andhra, English converted better in West Bengal than Bengali.
Here, Mangesh pointed out the need to balance the efforts to the result. Digital marketing enables measurability. Metrics are available that can be used to measure factors like impact, time on site, etc. Brands need to leverage these metrics while figuring out the best balance and then design their strategy accordingly. Concluding his point, he explained that the right balance to achieve the best results in the case of the particular client was to display the key communications that generated emotions in regional languages whereas other, general information could continue being in English. Mindless personalization through digital media will not achieve the best results or maximize conversion, measured personalization will.
Brands must balance the efforts put into personalizing to the results achieved.
For a synopsis of the entire discussion, click here.
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