At the IAMAI’s India Digital Summit 2024 held in Mumbai earlier this week, a panel discussed the challenge for digital marketers lies in navigating personalisation and measurement in a post-cookies era. Those on the panel included Shuvadip Banerjee, Chief Digital Marketing Officer, ITC; Shashank Srivastava, Senior Executive Officer, Maruti Suzuki India; Arnaud Frade, President, Commercial – (Asia), Nielsen and Mohit Joshi, Chief Executive Officer, Havas Media Network India. The session was moderated by Vivek Malhotra, Group Chief Marketing Officer and Chief Operating Officer – Consumer Revenue, India Today Group.
Highlights of what the panelists said:
Srivastava: “In earlier times, this understanding of the customer relied on sampling, market research, and analysis of demographics and psychographics. However, the abundance of data and advanced technologies now allow for a significantly more personalised approach to customer insights. Maruti Suzuki’s sustained market dominance, holding approximately 45% market share over four decades, stems from aligning with evolving consumer behaviours and processes. Extensively researched, the car purchasing journey involves 26 touchpoints, 24 of which Maruti Suzuki has seamlessly digitised. Aspects like test drives and delivery are transitioning to digital.”
Frade: “Technological advancement also generates vast amounts of data, which must be leveraged more effectively. The challenge lies in obtaining precise, high-quality data that empowers marketers, brand owners, and other stakeholders to make informed decisions. In this rapidly evolving landscape, understanding the changing dynamics of the shopper journey is paramount. The proliferation of mobile technology and diverse forms of commerce has fundamentally altered how consumers engage with brands. We are witnessing a transition from discrete ‘moments of truth’ to a continuous journey, where decision-making occurs at various touchpoints. Marketers must excel not only at the final interaction but throughout the entire marketing funnel.”
Banerjee: “The marketing landscape has evolved, with real-time multi-touch attribution and market mix models becoming commonplace, aiding investment allocation. Despite lacking a unified media measurement standard, metrics like scroll depth on owned assets and engagement within communities offer insights into consumer behaviour. Additionally, distinguishing between always-on and start-stop campaigns and measuring baseline improvements helps gauge campaign effectiveness. Despite the abundance of data, the challenge lies in harnessing it effectively to inform decision-making and optimise campaign impact across different funnel stages and mediums.”
Joshi: “At Havas, we’re addressing this challenge of misinterpreting data head-on. We aim to refine our approach to a market mix model and ensure clients receive accurate input-output assessments. While data is invaluable, we must ensure it guides us in the right direction. By striking a balance between bottom-of-the-funnel optimisation and top-of-the-funnel investment, we can sustainably drive acquisition and growth. The key is to navigate the complexities of data and maximise its potential to drive client success.”