Category: DAS KA DUM

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Q. The role of a CMO (Chief Marketing Officer) is evolving rapidly with the advent of digital marketing. What new skills and attributes do you think are essential for a CMO to succeed in today’s marketing landscape?

A. Yes, the role change of the CMOs is very evident. I sometime wonder if one CMO can attend to all the tasks that are expected from her/him. Let’s look at the list of tasks keeping in mind the rising complexity of the job. For example, an organisation requires one CMO for thorough understanding of the product/ services to prepare a compelling and customer-friendly narrative, one CMO for understanding consumers by various age cohorts as the days of the homogeneous consumer are over. The heterogeneity is the new homogeneity. And understanding each type of consumer cohort isn’t a function of algorithm only. It involves ethnography also.

Thirdly, another CMO has to be comfortable with technology to innovate with the tech team to create not only to serve consumers but also to create a unique competitive advantage.

Fourthly, another CMO has to first decode third and zero party data to use it for micro marketing by consumer cohorts and by region for ensuring personalisation at scale.

Fifthly, the next CMO has to understand media very well. S/he has to be platform-agnostic in understanding the consumers’ media consumption habits but s/he has to vertically understand each medium’s uniqueness for leveraging user immersion.

The sixth CMO has to be expert in monetisation of all assets as that’s what rings the cash box. And creativity, like all others, in innovating different routes of monetisation would be critical differentiator.

The last CMO has to understand content very well as ultimately any narrative is about content that engages a consumer in a positive way within 8 seconds, which is the new normal of consumer attention.

Needless to say, while the uniqueness of each task has to be followed, the collective wisdom of each CMO would have the impact equivalent to a philharmonic orchestra. Territorial pettiness would make the organisation a loser.

I am conscious that I am proposing so many CMOs in an organisation and I can be assassinated by the current CMOs. But if you look at the task, as enumerated above, will it be possible to be a vertical expert on every subject? I believe that when one can’t change the game, it’s better to change the rules by playing the game differently.

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Q. A recent job ad for the EA of a vice chairman of a media conglomerate said the candidate should be in cahoots with English and a passout from a college like St Stephen’s or St Xavier’s? In a country ruled by the likes of Messrs Modi, Ambani and Adani, is this job requirement a fair ask?

A. I loved the advertisement. It has an attitude… not the usual boring recruitment ads. Since I had the opportunity of working with the Giant of a Man at BCCL many moons back, I know that one needs exceptional brilliance (I am not boasting that I brilliant, my being there was more due to a cosmic design and due to the generosity of the owner) and exceptional capability and copability to deliver a variety of outcomes (not outputs). I would hasten to add that the operating contexts are very different now from the one I operated.

All the qualities required for the job would only make the selected candidate more competent (through osmosis also) in the ever-evolving workspace in the new world order. So, it’s very fair for the biggest print media company to ask for such a talent to accentuate its growth agenda with the exceptional intellectual capability of the visionary Leader.

Coming to M-A-A, how do you know they (A-A) don’t own such talents? They are in the comity of the most successful companies in this country, if not in the world. They must be doing a lot of things right and they must have a high market share of exceptional talent  in the organisation and in diverse fields in which they operate. M has exceptional leadership capabilities. Hence, one needn’t always publicise to flaunt. After all, a tree is known by its fruits. And if wealth generation is one of the indicators of such a fruit, it implies that they have been on the right track.

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Q. It was Friendship Day yesterday (Sunday, August 4). Any one friend – other than your immediate family – who you would say contributed immensely to what you are today?

A. For me everyday is a Friendship Day as I am imbued on a principle of Vasudaiva Kurumbakam (read dostokam). One life is too short for nurturing hatred. Love for all is an easier route for mental peace.

This Friendship Day, I remembered all, including you, for making my journey on earth a memorable one. I am just a tourist on earth after all.

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Q. Come September and there is always talk of Indian media and entertainment players being copycats (given that many songs have been inspired from the film Come September’s popular song). What’s your view? Are we a nation of copycats?

A. I have a feeling that a ‘copycat’ sobriquet to Indians wouldn’t be fully fair. There are countries (eg in the north of India) who are known for being such copycats. Indians may use a different term – inspired – for justifying such copying.

I am not denying that some/many in the Indian startup ecosystem are known for copying. But by that logic even global tech giants are known for such copying. One obvious fall-out of a copycat mentality is that it stifles innovation bones amongst entrepreneurs. Copying saves the trouble of solving real-life problems of real people. But it’s also time-consuming and getting the eureka moment may not happen frequently and business opportunities might be squandered. I know, and sadly so, there are many who defend the copying by saying that imitation is the best form of flattery.

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Q. Last week, two associations of news broadcasters met the Prime Minister. Do you think it’s a good idea for news journalists to be appealing for sops and thereby compromising their editorial independence?

A. It’s a pattern in most of the countries: that is to approach the government to bail out an Industry/ organisation for its inefficiencies through sops. It’s a fact that the tax structure, import duties etc do affect the cost structure of all media companies but who audits the operational efficiencies of companies. Exorbitant cost structures affect profitability of companies and then the government has to bail them out. Government sops and media independence are contradictory in terms though ostensible platitudes about freedom of expression are always maintained even when a sop is accepted. It’s a vicious circle. So it’s not about good or bad idea when one approaches the government for sops, unitedly. But two bodies for one goal: I wonder if it’s a contradiction in terms.

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Q. This is the time when some of the trade associations elect/appoint new heads. Do the fresh appointments excite you with the prospects of changes and a whiff of fresh air?

A. Trade Associations have periodic rotation (generally two years) of leadership. So, there is nothing unusual about this. Secondly, the leadership team ensures a practice of continuity with change. Consequently, any leadership change would not result in a dramatically revised approach. The overall approach, in most cases, has been pro-industry and progressive. And they operate within the overall vision of the association. As members of such an association for quite some time, and I have remained energetic always with the approach of the new leadership.

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Q. The merger of Star and Viacom18 is a certainty. Assume you have to offer a ‘blessing’ with a ‘Jug Jug Jio’ to the new disposition, what would it be – in terms of an advice?

A. The merger of the Indian media business of Walt Disney with Reliance Industries’ Viacom18 should have a significant impact on the Indian media and entertainment sector. This is to state the obvious. And the combine has been conceived and strategised to achieve a competitive advantage and not to do so some social work for salvaging one company or the other.

It is anticipated that lower tariffs for subscribers are likely to come to a gradual end one day, while the bargaining power of advertisers will be impacted in some form. I can’t predict it on the basis of any assumption as strategic imperatives do change.

Any speculation about business is fraught with uncertainty. And the merged entity would not be business-wise incorrect to misuse the competitive advantage to negatively impact the stakeholders. It would be self-defeating in the long run.

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Q. Indian athletes have performed fantastically in the Paris Paralympics. Better than those who were abled. Yet, our media doesn’t accord the winners the pride of place like they did to those who won even a bronze in the For-Abled Olympics. Does this distress you or is that how the media will always be?

A. Yes, I agree. The performance of Indian athletes in Paris Paralympics is worth a salute from all Indians. The spirit of the athletes is awe-inspiring, as they overcame various challenges to excel and made all Indians proud.

Unfortunately, the euphoria of this achievement didn’t get commensurate amplification in media, when compared to cricket for instance. However, I must admit the coverage/ amplification has received better media attention, than perhaps in the past.

I hope that from now onwards, the Paralympic athletes get more encouragement in every aspect that contributes to their performance.

Yes I agree–the performance of Indian athletes in Paris Paralympics is worth a salute from all Indians. The spirit of the athletes are awe inspiring, as they overcame physical challenges to excel and made all Indians proud.

Unfortunately, the euphoria of this achievement didn’t get commensurate amplification in media , when compared to cricket for instance. However , I must admit the coverage/ amplification has received better media attention , than perhaps in the past.

I hope the Paralympic athletes get more encouragement in every aspect that contributes to their performance, now onwards.

If you wish to access the archives, please go to the Das Ka Dum tab on the website’s top navigation bar or click here: https://www.mxmindia.com/category/columns/das-ka-dum/

Q. If you were asked to prophesise, do you think print and linear television will survive till, say, 2030? Especially if they don’t innovate…

A. Survival of any sector or organisation is a hazardous guess. Why? Simple. How can one conclude the future of organisations/ sectors with a generalised experience. Contexts change, strategies evolve and leaderships make an impact.

Having said that, I would like to add that every strategy has an expiry date. So are business models. Hence, linear tv and print will not be able to continue business as usual as media consumption behaviour is changing continuously with the entry of new consumer cohorts and consequently, business model are getting disrupted. So, the principle of ‘change or perish’ will continue to dictate the core survival mantra. Now, which sector/ organisation would see the writing on the wall, fast, would make a difference between success and failure.

If you wish to access the archives, please go to the Das Ka Dum tab on the website’s top navigation bar or click here: https://www.mxmindia.com/category/columns/das-ka-dum/

Q: All these years, one wondered whether there were enough emotions for the IPL teams like you have in the global football leagues. We now see it happening, albeit in a negative way, given the reception that the Mumbai skipper is receiving. What say?

A: I presume you are referring to the passion of EPL. If it is so, there is no comparison with the passion of IPL.

IMHO, the passion of spectators of IPL is dominantly towards a game or an individual (specially iconic captains or players). I am referring to a three-hour spectacle with all the ups and downs as it happens in a film. When I talk about individuals, I can think of only three individuals who dominate the excitement of the audience viz MSD, RS and VK. Now, none of them are captains of a franchise but they evoke emotional response whenever they walk into any of the matches. The current behaviour of the fans for Rohit Sharma js because he is no longer captain of MI.  Fans are not generally logical. Their response to a specific situation is generally emotional. The kind of response MSD gets when he walks for batting, all over the country, is beyond imagination. He doesn’t have a scoring track record like RS or VK. I doubt MSD’s successor would earn a similar response in the near future. Again, the same is true for RS, of course the recent episode at MI has earned him the passion for a fall guy. The spectators are now fighting for an alleged injustice to him. His brand pull appears to have gone up due to this event.

Now, both MSD and RS have won five IPL trophies for their respective teams. On the other hand, Vk’s team never won an IPL trophy yet his personal charisma is more than the team , as I perceive.

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Q. As direct-to-consumer (D2C) brands continue to disrupt traditional retail, do you think this model will reshape the entire marketing landscape, or are we seeing a temporary shift due to changes in consumer habits?

A. Yes, the direct-to-consumer (D2C) model is going to impact marketing in several ways:

For instance,

1. Marketers will have better control over their operations due to the direct connection with the end consumers. This would include customising strategies to various consumer taste/ demographic cohorts.
2. Direct feedback from end-consumers enabling the marketers to innovating product and distribution design. Direct feedback could also reduce lead time in customer service.
3. With the increasing adoption of digital services by the consumers, D2C brands would be able to penetrate deeper for enrolling more customers without incurring the physical cost of servicing them.
4. There would be more cost-optimisation if D2C approach is adopted by the marketers. The complementarity of a classical distribution model is more expensive for obvious reasons. The point about digital connect with the end consumer is also relevant in this context.

In short, the benefits of adoption of a D2C model could upend many traditional practices of marketing and in fact benefit the marketers tangibly.

If you wish to access the archives, please go to the Das Ka Dum tab on the website’s top navigation bar or click here: https://www.mxmindia.com/category/columns/das-ka-dum/

Q. With entertainment linear television on its last legs and news TV already floundering, would you say that the rights-dependant sports television is the only hope for major networks?

A. It’s too early to predict the trend for both, as mentioned in your question. While building numbers both in SVOD and AVOD have been challenging for all players, in the Indian context, it may be too premature to write an obit on GECs. It is equally premature to predict with finality that only rights-dependent programming is the panacea for major sports channels. In India, sports, other than cricket, are gaining in popularity, albeit slowly. They may be of niche interest today, but tomorrow could be different.