MxMIndia

Category: THE ANCHOR

  • Industry specifics that matter because they affect your customers, from Chaitanya Prakash.

    The Anchor: 5 drivers in B2B marketing

    By Chaitanya Prakash

     

    #1 Your channel partner has the key.

    In a B2B scenario, your channel partners are often closer to your customers. Realising their importance, ensuring the right framework to support them, enabling and engaging them with your brand is critical. While channel development is a function by itself, marketing pitches in with co-branding, co-promotion and joint marketing initiatives. Engaging them through special portals, forums, meets and networks forms the foundation for a long term relationship, besides helping tremendously in understanding customers. Remember, your Channel partners are your brand ambassadors, and hence engaging them requires a long term view (read investment).

     

    #2 Building your intellectual capital.

    Steer your PR for more intellectual-driven engagement, showcasing the knowledge and management depth of your company. Clients are often a lot more influenced and assured if their B2B seller knows the business. Participating in seminars, presenting white papers and getting invited for guest columns are only a few ways to start this long journey.

     

    #3 Content. Content. Content.

    B2B marketing is far more content-driven, be it presenting through your product or service brochure, case studies, video or advocacy. Focus on the content and evaluate its worth frequently. While the medium today has expanded several fold, and ‘creative’ is important, your key theme (read message) is critical.

     

    #4 Take things personally.

    Vijay Mallya makes a bold statement to his guests aboard Kingfisher flights, that ‘he is taking things personally’. In good times, it cut the ice among his guests (today, of course, it may be a different story). In B2B marketing, be committed to take things personally, when it comes to your customers. Engaging your customers beyond the ordinary, with a personal touch, triggers several ripple effects – word of mouth, repeat orders, endorsements and advocacy, to name a few.

     

    #5 Resist the ‘visibility’ syndrome.

    Visibility may not be as critical as the right associations. Resist the temptation of investing in a highly ‘visible’ campaign. Instead, think the right visibility campaign, where your brand gets to be seen in the right light, at the right places, with the right associations. It’s long-term, but it’s rock-solid.

     

    Chaitanya Prakash is the Head of Strategic Marketing & Communication for Weir Businesses in India.

  • If organisations proactively think about how they should keep their employees engaged over a period of time, attraction rates go up and attrition rates fall, says Rohit Ohri

    5 things that agencies must do to attract top talent

    By Rohit Ohri

    The advertising industry is guilty of ‘criminal neglect’ in its approach to recruiting talent. For an industry that sells original thinking, this is surely creative suicide.

     

    The good news is that no matter what the size of the company, attracting and retaining talent has more to do with one’s commitment to building a sustainable organisation, rather than how much one pays.

     

    My core belief on talent management revolves around proactive engagement. If organisations proactively think about how they should keep their employees engaged over a period of time, attraction rates go up and attrition rates fall.

     

    That said, here are five things advertising agencies must do to attract the best talent: I call it the REACH principle.

     

    1. Reach wallets

    It’s true that it takes more than just money. But it does take money. Beating the market is neither an attractive nor a sustainable practice when it comes to compensation.

     

    Many companies ignore this truth and apply a famine and feast mentality when it comes to compensating creative talent. First under-paying, when the company has the leverage and then over-paying later, in order to attract or keep that talent from being snapped up by eager competition. This breeds suspicion and kills loyalty.

     

    Instead, be relentlessly pro-active in maintaining market parity at every position, with bonuses and incentives for extraordinary results. This creates an environment in which financial resentment is not a motivation for your talent to look for new opportunities.

     

    Desperate competitors may still over-pay. But when talent feels valued, the premium required to convince them to leave gives you an immediate competitive advantage.

     

    2. Reach clarity

    Clearly articulate your vision and then build around it. As a species, we are united by our instinct to create. We want to make things… especially, a difference.

     

    Google’s success is driven by a simple premise – to organize the world’s information and make it universally accessible and useful. A goal that attracts informs and unifies some of the most original thinking of the last ten years.

     

    Define the change your company wants to make in the world. No matter how local. Nothing attracts like a clearly defined vision of a better future. Being made to feel that one plays a significant role in helping the company achieve its goals enhances performance and builds loyalty.

     

    3. Reach goals

    Measuring progress is one of the keys to harnessing creativity. A study in the Harvard Business Review showed that a sense of progress is the attribute which people value most in their day. Progress can only be measured on a continuum that has a beginning and an end.

     

    Defining the difference you want your business to make provides the latter. The former comes from individual reviews – a subject worthy of its own post. Annual reminders of how far the organization has come are also imperative.

     

    Celebrating the company’s anniversary with a retrospective comparison of where you were a year ago and now stand, is simple and powerful. It helps to reiterate goals and review the course…

     

    4. Reach out

    Be Open. Be Honest. Transparency is the most over-worked word in the English language at the moment. However, this does not make it less essential to attracting and retaining great people. Don’t build walls around you…break barriers and allow others to do too. If you want your people to respect your view points, respect their’s too.

     

    5. Reach hearts

    Say Thank You. The artist in all of us needs to be recognized. So does the human being. And yet most companies are slow to praise. Or even to thank. Thanking your people as often as possible is a small acknowledgement that you take neither their talent nor their choice for granted. Respect their choice to stay with you and chances are that they won’t go anywhere else in a hurry.

     

    These steps require investment – of time – and a little money. Practice them collectively and your company will be irresistible – and invaluable…

     

    Rohit Ohri is the Executive Chairman at Dentsu India Group

     

  • A N Chorrea list why every March is unforgettable and the one this year more so

    5 reasons why March is an unforgettable month

    By A N Chorrea

     

    It’s March 1. In the good old days on Radio Ceylon or Sri Lanka Broadcasting Corporation, we would hear the song ‘Din Hai Suhana Aaj Pehli Tareekh Hai’. I am not much of a radio person now (especially after Radio One turned Hindi and knocked out all its star RJs), but I think I do see an ad with that playing somewhere.

     

    So here are my five reasons why March is an unforgettable month.

     

    1. It’s 30 days and some hours for the year-end. Targets aren’t complete this year. The newspapers say the market’s looking up. But where the sugar are the monies?

    2. It’s the month, when the appraisal process starts in most organisations… chances are it’s already done in the boss’s mind

    3. It’s the month where one needs to make all the tax-saving investments… but where’s the money in the bank?

    4. It’s the month where the kids have their exams. And even if your kids are too small or big or you have none, there are several all around.

    5. It’s the month this year where the Union Budget is going to be announced which is a huge distraction for many big spenders… there are just 31 days in the month and we are losing a few thanks to the holidays (and, yes, Holi too!) and now the Budget too.

     

     

    Here’s wishing you a happy March. Enjoy

     

  • Efficiency in cost, customization and communication to a cross-section of demographics are just some reasons why radio activations are necessary, feels Ashit Kukian

    5 reasons why activation is a must-have extn on radio

    By Ashit Kukian

     

    #1 360-degree:

    No campaign is complete without engaging with the potential consumer. Radio activations are an efficient way to blend ATL/BTL communications through a common medium and, therefore, a proposition that is must-do.

     

    #2 Efficiency in cost:

    It is not as much about the investment, but what the investment is getting for you. If the critical differentiator is the cost, there are vendors who can operate at significantly less investment. However, the sheer reach of Radio, when coupled with an exciting on-ground activation, would get massive attention and therefore give an efficient cost per contact.

     

    #3 Customization:

    Radio offers customized brand solutions that can easily be adapted, scaled and executed. The amount of customization offered is far superior to that of any other medium. The cross-section of touchpoints that a brand can have makes radio activations attractive.

     

    #4 Whoever, wherever:

    Radio talks to a diverse set of listeners and can communicate to a cross section of demographics of people. This, in turn, enables almost any brand to engage with their target group.

     

    #5 Better acceptance of brands:

    The passion quotient of interaction of consumer with brands is higher on radio as the medium connects with its listeners at a far more emotional level than other mediums.

     

    Ashit Kukian is the Chief Operating Officer of Radio City.

  • It is important that the co-founders have a common vision in the game. As the promoter of the business, you should clearly articulate your vision, says Rohit Sharma.

    5 things to keep in mind while starting an online venture

    By Rohit Sharma

     

    #1 “Be Frugal” should be your mantra

    It is very important to be extremely frugal. Cash is King and start-ups should keep their fixed costs as low as possible. Try multitasking. It is important to conserve cash and be completely stingy before you raise the required capital for the business. Ideally, you should have capital for next 18 months either ready or in the pipeline.

     

    #2 Team, a critical success factor

    It is all about the team – their motivation levels, dedication and perseverance to make it happen. It is important that the co-founders have a common vision in the game. One of the biggest challenges is to hire the right start-up team (excluding the founders/co-founders). The team needs to be extremely good in terms of skill-sets; one also can’t afford to hire very expensive people. As the promoter of the business, you should clearly articulate your vision so that the start team comes on board completely motivated and with a strong belief in you and the business.

     

    #3 Business Metrics: Get them right

    It is very important to get the key business metrics of your business right from day one. Have complete clarity in terms of key growth drivers, revenue drivers and cost drivers and continuously monitor track more efficiency in the business. Business plans should not be made for the VCs, but for yourself and for the growth of the business. If you have done that successfully, VCs will anyways buy in.

     

    #4 Don’t give up too soon

    It is important for the entrepreneur, especially in the digital space to be extremely nimble and flexible. Mainly because the environment is very dynamic, business models are continuously changing, new technologies/innovation keep on coming, so one should be prepared to quickly adapt to newer business models if required. You might not be doing exactly the same thing eventually that you started with. There is nothing wrong with that as long as you have created a sustainable growth model in your business.

     

    #5 There is no experience like good customer experience

    It is very important to focus on a great customer experience. It is all about the right product that the customer loves and it could be the biggest differentiator for the business. One needs to spend disproportionate time to deliver an outstanding customer experience across all the value-chain components of your business. A great product or customer experience can be your biggest marketing tool.

     

    Rohit Sharma is the Founder, Wopshop.com.

     

  • Having it all also means doing it all – and since you can't have three heads and six pairs of hands, Apurva Purohit has a few tips on managing your life and staying sane.

    The Anchor: 5 ways women can swing the work-life balance

    By Apurva Purohit

     

    #1 Learning to prioritize: We can’t be great moms and wives and great professionals, and have an active social life and learn painting and scuba diving all at the same time. So we need to make tough choices about what is essential and what is not. For years my husband and I didn’t socialize at all because whatever time we could spare from work was spent at home with our son.

     

    #2 Living with guilt: We have all dealt with the guilt of leaving a cranky child or an ailing parent at home while we rushed off to complete that presentation. Or with the guilt of missing an important office event to manage a household crisis. It is a fact that Indian moms have an exaggerated sense of guilt. My son doesn’t seem to have any emotional scars that I left him with his grandmom when he had chickenpox, but I carry along big welts 11 years later!

     

    #3 Asking for help: You know the biggest issue women have in asking for help? That it often accompanies loss of control. Losing control of the kitchen to your mother-in-law, or of the upbringing of your child to your mother. If you are prepared to let go, you can build a really powerful support system around you.

     

    #4 Hard work is a given: Finally, we all need to work exceptionally hard to manage both parts of our lives. As soon as the office shift gets over, the other shift of cooking/feeding/dealing with homework starts. I had morning, afternoon and evening sickness throughout the nine months of my pregnancy. But I just carried plastic bags and boarded the train for the one-hour journey to work every single day. And I know a lot of women friends and colleagues who dealt with similar issues without batting an eyelid.

     

    #5 Keep your foot on the pedal: At critical junctures in their lives, like marriage and babies, women need to make sure that they remain as focused on their career as they are on family. And use whatever support they can get – organization, parents, husband, in-laws – but keep their foot firmly on the pedal. It requires working doubly hard but it is worth the effort.

     

    Apurva Purohit is CEO, Radio City 91.1 FM.

     

  • Media Planning adds D.R.A.M.A to every creative to make it larger. Karthik Lakshminarayan cites some examples

    5 reasons why behind every good creative is an even better media plan

    By Karthik Lakshminarayan

     

    #1 Media plans ‘Demonstrate’ brand promise

    People are increasingly becoming health-conscious these days and one cannot get past a dinner with family and friends without having a conversation around how everyone is watching what they eat or are trying hard to lose weight and maintain a ‘healthy heart’. Hence, when an oil brand which stood for heart health took the simple route of making an RJ lose weight ‘live’ on radio by adopting the brand, it helped ‘Demonstrate’ what the brand stands for, and took the creative forward and helped it work harder for the brand.

     

    #2 Media plans help brands promise become a ‘Reality’

    When a chocolate brand started celebrating every happy moment in our lives with chocolate, it was only a matter of time before passing exams became a part of the same. Hence, when the brand celebrated that and we had exam results available on the mobile platform, it was a media plan that made this promise a ‘Reality’ and every single student who passed his exam and looked up his results on the WAP platform had the brand message being dished out to them. This media plan won accolades across the globe!

     

    #3 Media plans show ‘Applicability’ in consumers’ lives

    The first time Indian Idol came about, it was a huge success and everyone remembers the hype and popularity the show created. However, to be able to reach each and every nook and corner of the country for auditions was physically impossible and hence evolved the concept of ‘Telecom Partner’, which helped people audition by recording themselves in specially designed booths and sending it to the channel.

    The ‘Applicability’ of the telecom partner was strengthened and helped people realise that telecoms help connecting people with not just people but also with their dreams.

     

    #4 Media plan help brands ‘Magnify’ their status

    Not so recently, when I was part of Colors and we launched the channel close on the heels of the high-profile launch of 9X and Imagine, we had to ‘Magnify’ the brand and what we stood for to consumers and woo them to our channel. The media plan was designed to Magnify the brand by using network strength and riding every single ad-break on the network with top and tail promos of brand Colors. This magnified the brand promise many times and the intrigue generated was high enough for the channel to be a part of the consideration set amongst viewers and more than magnified the creative of some of the lead shows like Fear Factor and Balika Vadhu.

     

    #5 Media plans that help brands ‘Amplify’ their promise

    Who can forget the famous ‘Kodak’ moments and how each and every happy moment is captured even today with these rather famous words – ‘Its a Kodak Moment’. The media plan that sought to ‘Amplify’ this promise rode on the largest media channel and the largest Bollywood award show of its time and the aptness is something which will be cherished for years to come.

     

    Karthik Lakshminarayan is the COO, Crest (Madison Media).

     

  • Freedom for radio seems the final frontier in a media environment that is otherwise relatively unfettered. Uday Chawla’s take on what it’ll take to break the shackles.

    The Anchor: 5 ‘must-do’s for the future of radio in India

    By Uday Chawla

     

    #1 A level playing field is needed

    Under Phase III, content freedom is still severely restricted. Only AIR-provided news capsules can be broadcasted. Current affairs and even sports commentary are restricted. There is no such restriction on print, television or even the internet. The government’s view is that a central monitoring system is needed to be put in place before news on FM is freely allowed. With the process on, early lifting of restrictions should be expected. (Even in Nepal, news on FM is freely allowed.)

     

    #2 DAVP rates should be rationalised

    Government advertisement rates need to be equal across all media, but currently they are heavily skewed against FM. For instance, local newspapers are given a rate of Rs.159 per column cm per lakh reach, while for FM it is over 10 times less even for a 10-second spot. There has been a high listenership growth in FM and on an average FM now reaches 70 per cent of populations in metros. In smaller towns it should be higher. The criterion for relative ad rates within a city amongst different FM should be logical and transparent.

     

    #3 A transparent system for license extension is needed

    Under the phase II policy, licenses were issued for 10 years, while under Phase III they will be issued for 15 years. A license period of 10 or15 years, with absolute darkness or renewal parameters, discourages away investors and bankers. Even now, phase II players have no idea on what or when is the license extension criterion, and thus making it extremely difficult for them to raise funds for even FM phase III bidding. The solution therefore lies in having prefixed and transparent extension criteria even at the time of allocation of first licenses.

     

    #4 Developing and regulating human resources

    With 800-plus new radio stations to be set up under Phase III, a four-fold increase, there will be a huge demand for radio journalists. Emerged and emerging content freedom means that a more trained and disciplined RJ resource would be required.

    I believe content freedom brings greater responsibility on radio and incidents like the Darjeeling violence (caused by a derogatory remark by an RJ) puts national security and unity under risk. Therefore a self-regulatory content code needs to be formulated and implemented.

     

    #5 Building Brand Radio

    Currently Brand Radio is not top-of-mind, be it government or shareholders or even advertisers, and this is not because radio has less reach or is less effective than other medium. In fact radio is the only medium that can be simultaneously consumed along with other activities. Besides, it is also the only medium that can reach the most remote areas of the country and I believe that there is an emerging India in smaller cities and towns, which can be opened up through FM.

     

    Uday Chawla is the Secretary General, Association of Radio Operators for India (AROI).

     

  • A digital presence is not something special any more – but it also does not mean brand should take digital for granted. Vineet Gupta outlines why and how this is an exciting medium that should be milked for all it's worth.

    The Anchor: 6 reasons why brands can’t ignore digital

    By Vineet Gupta

     

    #1 Digital is no more youth-centric or an urban phenomenon. It cuts across various age groups and touches a cross-section of society. For a brand it becomes imperative to be present in a medium that cut across geographies and age groups.

     

    #2 Digital is not an advertising medium but a medium of engagement. If earlier, it was brands that were sending out information to the consumers, now it’s a reversal of that game. Consumers seek information and are proactively engaging with brands on the digital platform, thus giving brands immense opportunity to engage with their consumers in a much more meaningful way.

     

    #3 Today, it is about mobility and being connected on the move. The consumer is engaging on a real-time basis with brands while being on the move. Access is via multiple screens and it doesn’t really matter where and how the consumer is connecting – but it’s important that he or she wants to be connected at all times with the brand.

     

    #4 The early adopters of the digital medium were brands that were looking for lead generation. Now many brands have gone beyond that and built an entire eco-system around the digital platform, including building communities or developing e-commerce platforms. This is the way forward for brands.

     

    #5 The future belongs to brands that have understood this medium and are using it not just for a brand building exercise. One has to realize that digital plays an important role in the purchase decision. Therefore there is a need to understand that it is much more than a marketing medium and all aspects like information, consumer feedback, sales and distribution should be built on this medium.

     

    #6 Lastly, digital is an important medium in the purchase funnel. Whether it is seeking information, desire to purchase or the action of purchasing, all can be done on this medium. Brands have to look at digital beyond just advertising.

     

    Vineet Gupta is the Managing Partner of 22feet.

     

  • Pradyuman Maheshwari on why he’s going to do the trek to Powai for FICCI Frames 2012.

    11 reasons why I am going to be @ Frames this year

    By Pradyuman Maheshwari

     

    #1 This is my 11th FICCI Frames. Must say I had lost count of when the event was launched, except when I learnt yesterday that’s it’s the thirteenth edition of the event. If I remember right, I have missed out on just two years. So, couldn’t not make it this year.

     

    #2 This is the only time I visit the the Marriott property at Powai. The Renaissance is a great hotel and I quite prefer it to other convention hotels like Taj Palace in Delhi or Leela at Gurgaon, but three days of the trek here are enough for the whole year!

     

    #3 I can’t do without meeting my Frames friends. Yes, I don’t meet them for the rest of the year… these days I chat with some over Facebook or BBM, but nothing like meeting in the lobby at Frames.

     

    #4 Star-gazing! Thanks to the fact that Yash Chopra is chairperson of the entertainment committee and now with Karan Johar as co-chair, one can’t not find the big stars around. Last year, we had Vidya Balan pre-Dirty Picture. Now, we have Vidya Balan post-Dirty Picture. Ooh, la, la!

     

    #5 There is some serious discussion on digitization and with the presence of all stakeholders – the I&B secretary and the TRAI chairman, the key broadcasters and the distribution biggies, we couldn’t have had a better platform now that the sunset date in metro is a few weeks away

     

    #6 I enjoy Uday Shankar’s keynotes. The industry couldn’t have asked for a better champion. Given that his group is also into films in the country and his own background in news and print, there are few who have a more well-rounded view.

     

    #7 I am also looking forward to the session with all the legal eagles though I am unsure whether the time allotted will be sufficient for a reasonable discussion. Perhaps next year, there should be a day-long discussion with the law-wallahs.

     

    #8 Even though MxMIndia is a media partner and there’s no denying the fact that Frames is the premier event of India’s M&E sector, I have also been critical of a few of the earlier editions. It would get boring and I have seen no real merit in some of the deliberations. I have found media captains snooze and wish I had taken pictures of them. But I see that there is an attempt to get some new names in.

     

    #9 I really like Rajiv Makhni of NDTV and I’m going to try and attend all the sessions moderated by him. In fact I wonder he was only called for three of the sessions… why not all?

     

    #10 Clinch deals, exchange cards and pleasantries and promise to meet. Now that I am in an entrepreneurial mode, all of this assumes much importance.

     

    #11 And for the 11th reason why I am going to be at FICCI Frames this year: Be happy that you are part of the media and entertainment business. Okay, folks in other industry sectors may not think much of us and crib about our work – our newspapers, magazines, channels, films… whatever – but they can’t do without us.

     

    The views expressed here are my own, and not necessarily those of MxMIndia.com and my colleagues.

  • Slowing excitement levels, consumer fatigue, and Indian players' performances… some of the reasons IPL needs to look sharp, feels Ashish Bhasin.

    4 reasons why IPL ratings & revenue won’t be better this year

    By Ashish Bhasin

     

    #1 There has been an overdose of cricket. Immediately after the World Cup last year, which was like a climax, we had the IPL and subsequent to that we had nearly continuous cricket, causing some amount of fatigue in consumers.

     

    #2 Viewership and interest in cricket in India is directly proportionate to the performance of the Indian cricket team. Given the disastrous tour of England, followed by a similarly disastrous tour of Australia, the Indian cricket team’s performance perhaps is at its lowest in the past several years and I feel this will impact cricket in general. Even though IPL is not directly an Indian team tournament, most of the players involved are in the IPL and hence the overall interest gets impacted.

     

    #3 Rightly or wrongly, I think the best days of the IPL were when Lalit Modi was running it because of the hype and excitement he was able to create around it. Subsequent to that the journey has only been downhill for IPL. Hence I feel that will continue for a while, until something new is done to reinvent this tournament and regenerate interest.

     

    #4 Perhaps, because of some of the reasons given above, the Indian consumer has started acknowledging that other sports also exist in the world, like F1, hockey, wrestling and so on. As these sports catch on, IPL will be affected.

     

    Ashish Bhasin is the Chairman India & CEO South East Asia – Aegis Media.

     

  • Yes, it's Budget Day and while you tune into the various Budget Day specials, here's our list of five things which you'll never find the Finance Minister do.

    5 things you will never see any FM announcing in the Budget

    By A N Chorrea

     

    Yes, it’s Budget Day and while you tune into the various Budget Day specials, here’s our list of five things which you’ll never find the Finance Minister do.

     

    1. Reduce levies on cigarette: Alcohol may have seen some rationalization thanks to various international policies, but taxes on the cancer stick never goes down. Rightly so?

    2. Service tax net being narrowed: No way! If your service falls under a category which can be defined to not fall under any listed until now, be sure your celebrations won’t be endless. The FM’s folks keep widening the net every year.

    3. Dramatic reduction in income tax: Ha Ha Ha Ha Ha. Will never happen, even though every one tries all tricks in the game to duck direct taxes

    4. Make some really sound economic decisions. Remember, the Budget is as much a political document as it’s economic. And when you have in your Finance Minister also your government’s Political Troubleshooter #1, what can you expect.

    5. Abolish Budget speeches. It took many years after the British left us to bring the presentation to the forenoon. Now, it might make perfect sense to do away with the Budget, but no one’s complaining. Not the media definitely, as it’s one tamasha we all love… it helps up ratings and readership. And earn some good revenues.

     

    A N Chorrea is a seasoned media-watcher writing under a pseudonym