MxMIndia

Tag: The Anchor

  • The four factors that will ensure people stick with the corner shop – convenience, cost, choice and customer service

    The Anchor: 4 reasons why FDI in retail will not shake up mom ‘n pop stores

    By Ganapathy Viswanathan

     

    #1 Convenience: The local grocery is located close to one’s residence so that one can go at leisure and buy things during any point of the day. Alternatively the shop will not hesitate to give free home delivery – even if only one item is ordered. Unlike the big retail chain which insists on a minimum amount of order for free home delivery. These little things make a difference.

     

    #2 Cost: Being a long-standing customer he or she always gets the benefit of competitive price. Here there will always be the argument that the big retail shops offer lower prices, but trusted long-term customers of mom-and-pop stores do not always look at only price, they also look at consistency in the quality of products such as cereals and spices.

     

    #3 Choice: Most local grocery stores also offers a wide choice but include local brands which have gained customer loyalty. This is most common in a category like beverages (tea and coffee). Big retail chains are more likely to go by universal tastes as they cater to a larger population.

     

    #4 Customer Care: Customer care has been the emphasis for most giant supermarket stores but the kind of personal touch that small stores give cannot be replaced. The personal equation of the owner is so good that he often knows the likes and dislikes of each family member. He is also likely to know the first name of his customer and hence is able to connect with the customer and establish a bond. This is missing in the big retail stores.

     

    Ganapathy Viswanathan is a senior communications professional based in Mumbai

     

  • The personal touch is often the deal-clincher in reaching women consumers. Tips on how to achieve this without putting them off

    The Anchor: 4 ways marketers can attract women consumers

    By Shivangi Gupta

     

    #1 Sampling: Whenever there is a new product in the market, the best way to reach out to the target audience is through sampling and what better way than small sachets and miniature bottles to be given out as freebies for trial to the consumers. Women today would never buy a product without prior testing. They are highly influenced by word-of-mouth by peers, especially in the feminine hygiene care category.

     

    #2 Brand ambassador: Having a face is one, utilizing the face in a way that the consumer relates to her is another key point. Pertaining to Clean & Dry, having a doctor (well-known) explaining the different stages she has gone through, will get a consumer to relate to her and seek a solution.

     

    #3 Personalized sampling/direct marketing: A product with a personal note sent to a woman leads to making her feel special because a courier comes home for the male family members or most likely the working child. This is an innovative way to engage with the customer.

     

    #4 Influencer outreach: Select a bunch of known women for a Meet & Greet activity with 20 top bloggers who can be addressed by a influencer (preferably a well-known doctor), spokesperson of the brand, select consumers, and women activists over a panel discussion. This, along with product sampling, can help in building the brand as well as help in reviews through influencers to make them key opinion leaders.

     

    Shivangi Gupta is Director at Midas Care

     

  • Passion is at the core of lifestyle or special interest content; Smeeta Chakrabarti offers ways to approach building and sustaining lifestyle brands

    The Anchor: 5 ways how lifestyle channels can make it big

    By Smeeta Chakrabarti

     

    To paraphrase James Harkin, there is a new rule in business – forget the general audience and instead, stake out an identifiable niche. Love it or hate it, lifestyle programming that caters to special interests is here to stay. To our minds, the question was never about whether lifestyle channels can make it big, but more about how to build a sustainable ecosystem around brands which resonate, connect, relate and engage with the discerning consumer. We’ve always believed that passion is at the core of lifestyle channels or special interest content, and the following are ways in which we approach building and sustaining our lifestyle brands.

     

    #1 Multiple platform technologies: Lifestyle channels need to think of themselves as content providers targeting a specific audience, and indeed, targeting a defined passion, through all possible platforms and not just television. Technology today plays a vital role in sustaining and building lifestyle businesses.

     

    #2 Platform-agnostic content: While technology today permits dissemination of content across platforms and touch points, content creators need to be mindful of the fact that there are now multiple ways to consume that content, and a one-size-fits-all approach does not necessarily work. Whether it’s a laptop screen, the iPad, your smartphone or even an experiential initiative, smart content that’s platform-agnostic is the key.

     

    #3 Integrated marketing: Lifestyle channels need to be where their consumers are – something that finds resonance with the multi-platform and multi-faceted approach to content. Research, product, positioning, promotions, delivery and all aspects of the marketing value chain have to be geared to connect and engage audiences through touch-points not just inIndia, but globally as well.

     

    #4 Multiple revenue sources: It is imperative for lifestyle channels to see themselves as brands, which can be monetized beyond the conventions of FCT, sponsorships, integrations and subscriptions. Brand extensions, social media and DTH interactivity consumer products, books – the possibilities are endless, and essential.

     

    #5 Smarter distribution: This is an equally important step in building a sustainable business model. The very raison d’etre of special interest lifestyle channels is catering to a targeted, well-defined consumer, based on clearly articulated passions. Therefore, the conventional modes of carpet bombing and non-segmented distribution will need to get far smarter and targeted to have impact.

     

    Smeeta Chakrabarti is Chief Executive Officer of NDTV Lifestyle

     

  • A Tweetup is a chance for like-minded individuals from Twitter to come together offline and interact on the basis of a chosen theme. So how do you ensure a successful Tweetup?

    The Anchor: 5 tips for holding a successful Tweetup

    By Zafar Rais

     

    Twitter has emerged as a platform which enables targeted conversations with individuals who have a direct linkage to their brand or industry and have a high opinion within the platform amongst their followers. In order to leverage opportunities with Tweeps, marketers are constantly innovating, and one such activity that proves to be highly successful is the Tweetup.

     

    Increasingly, this has also given rise to influencer relationship management as an individual business unit within social media agencies.

     

    A Tweetup is a chance for like-minded individuals from Twitter to come together offline and interact on the basis of a chosen theme. It may act as a relaxed networking event organized by Tweeps or a new route towards launching a product and creating the right kind of buzz about it, through the right kind of people. Tweeps come together to use their collective wisdom and networks to create outreach and support during the event. A Tweetup is a great way for brands to showcase, sample and get feedback on their product or service.

     

    So how do you ensure a successful Tweetup?

     

    After organizing a bunch of Tweetups for brands such as Kiehl’s, Star Plus, BIG CBS Network, Karaoke World Championship, to name a few, these are a few of our learnings to ensure you don’t goof up your first one.

     

    #1 Invite the right kind of people and not just Tweeps with a high follower base. The right mix is what gets you the right engagements and the right outreach. Influencers on Twitter range as per certain topics they constantly speak of. Gain some insights on their tweeting patterns and invite the relevant ones only. Quality over quantity is key here.

     

    #2 Innovate by offering something different. Most brands adopt the same flow for every Tweetup. The key is to find something exciting or adopt a theme that excites them to attend it, as much as it excites you to organize something different.

     

    #3 Communicate via an invitation that lets Tweeps know about the highlights of your Tweetup, the hashtag to be used and the venue. Ensure you create subtle opportunities for them to know about your product but avoid a hardsell. Influencers are intelligent and will communicate with their followers according to what they deem fit.

     

    #4 Networking is key. Innovate by creating instances for your audiences to interact with other people, the brand and your designated hashtag. An effective session by a core speaker or industry expert gives the event a good start but after that, ensure that your influencer manager does his job of keeping them buzzing via fun games, live contests, performances and some alcohol too if the occasion demands.

     

    #5 Take home evangelists. While it’s great to get your hashtag trending or to increase curiosity about what the hashtag you’re using is all about, a brand must focus on the influencers they have invited, ensuring they go back home as brand evangelists and have built a valuable relationship with you. Your ability to achieve this is directly related to the experience you create for them.

     

    At the end of it, be warm, friendly and remember the key philosophy of social media – engage!

     

    Zafar Rais is Founder & CEO of Mindshift Interactive

     

  • The days of treating digital as a postscript are far behind. Here's how to play it in the new age

    The Anchor: 5 things clients should keep in mind when engaging a digital agency

    By Kushal Sanghvi

     

    #1 Treatment – The digital agency should be treated on par with traditional media. In today’s age, digital is as important as any other media and is a must. The client should realize that digital should be part of their media plan.

     

    #2 Not a mere lead-generator – Digital today should not be a medium to just generate leads or a sales channel. It’s not a channel to get databases. You can get those from various CRM channels. The medium is a necessity today and should be looked at in a different light.

     

    #3 Creativity in digital – It is not about putting a print ad or a TV ad on the digital medium. The digital agency should have the capability to come out with solutions that is unique to the medium and perhaps can be adapted and amplified to traditional medium as well. It is about co-creating creative messages especially on the digital which can then be taken forward.

     

    #4 Respect – The clients should be open to see the changes that the medium is doing in other parts of the world. There has to be a wider view of the medium and the willingness to explore the medium to its maximum. This also would mean that they should have respect for the digital agency and their capability.

     

    #5 Budget allocation – Clients should make budget allocations for the digital medium at the very outset when doing their media plan. Digital is a part of the 360-degree communication offering and should not be seen as an afterthought.

     

    Kushal Sanghvi is the CEO of Span Digital

     

  • The mobile, as a handheld device, is a lot more personal and contextual. Advertising on this medium thus cannot be the same as on the internet

    The Anchor: 4 challenges hampering mobile advtg growth

    By Narasimha Suresh

     

    #1 The mobile, as a handheld device, is a lot more personal and contextual. Advertising on this medium thus cannot be the same as on the internet. A promotional ad that is sent to a handheld device can excite. But if it does not, it can create more harm to the brand. Thus, contextual and relevant marketing is missing, and this is the foremost challenge.

     

    #2 The current inventory and mechanism available does not address the advertising issue for mobiles. The banner advertising or SMS might not be relevant at all times. There are clearly not too many options that are available or that an advertiser can leverage.

     

    #3 Brand marketers do not know how to measure the impact of mobile advertising. Advertisers need to engage consumer not only through content but also through context. The mobile advertisement should not be a push, but pull consumers. Since this is all about advertising on handheld devices, the advertising needs to target the person there and then. If a person is checking out a product, the offer or advertisement about the product or category should reach them immediately.

     

    #4 There exists an ecosystem problem as well. The penetration of 3G and smartphones is still limited. If 3G spectrum is present, the network is too slow. Smartphones are priced highly, and thus limit the reach.

     

    Narasimha Suresh is CEO and Founder of TELiBrahma.

     

  • The Anchor: 4 reasons why digital media’s mergers and acquisitions are a good sign

    By Rammohan Sundaram

     

    #1 It is a sign that the market has matured:

    It shows that India as a market has matured. All these agencies which have been acquired are at least 10 years old and these are the people who have done all the hard work – whether it is Communicate2 which was acquired by Aegis Media or Hungama Digital acquired by JWT, etc. It’s a natural progression and these are things which happen when businesses are scaling up.

     

    #2 Large agencies bring large clients:

    When large agencies acquire a standalone agency, it comes with large clients and as a result, it helps the standalone agency maintain continuity in the business, especially for clients attached to the agency that they have been associated with over the last several years.

     

    #3 Standalone agencies are allowed to retain vision:

    It is important for continuity in the business, and there is no reason why the standalone agency needs to change post-acquisition. While operational and financial processes will inevitably change, how you run your business usually doesn’t. This is so that there is a continuity of the vision that first started the standalone agency and has ensured the continuation of its growth.

     

    #4 Brings more talent to the agency:

    The companies which are successful today are those that have got tremendous talent. In order to build talent, loyalty and attrition rates which are lower than any other competitor is the key to success for an advertising agency in the business today. This is what most of these agencies have managed to do and that’s the differentiator.

     

    Rammohan Sundaram is CEO and MD, NetworkPlay Media Pvt. Ltd

     

  • Taareef karun kya uski, jisne tumhein banaaya… Ajay Kakar on 10 reasons why A&M needs independents like MxMIndia

    The Anchor: Ajay Kakar on 10 reasons why the A&M world needs independents like MxMIndia

    By Ajay Kakar

     

    In an era when ‘independent’ agencies are the toast and talk of the advertising, media and marketing world, I am happy to share my views on the need and importance of ‘independent’ media in our world.

     

    #1 All that you wanted to know but didn’t know whom to ask and more importantly, whom to trust:

    In a fast evolving industry such as ours, there is a critical need to be on top of the changes and developments.

     

    An independent publication like MxMIndia offers a single window to all that you need to know. And that too, without any bias or agenda.

     

    #2 In the land of data, perspective is king:

    While there is a lot of data floating around, at times conflicting, there is need for an independent perspective, that gives light to how the data should be read and understood.

     

    An independent publication like MxMIndia allows the reader to make his own view and take-home, thanks to the professional and unbiased views of industry thought leaders.

     

    #3 Dig deep, while also digging wide:

    There are so many facets to our industry, wherein advertising can end up out-shouting and overshadowing all the other key though not glamorous disciplines like PR, Direct and media like radio, et al.

     

    Independent publications like MxMIndia care to give focus to all the facets, with due visibility to the perceived underdogs too, a la MxM Radio.

     

    #4 Learning from the gurus, while giving visibility to GenNext

    The industry is blessed with a few superstars who have a wealth of knowledge to share, as the face of our industry.

     

    But independent publications like MxMIndia have taken the lead to give a face and platform to the rising stars, who would otherwise get lost as a ship in the dark.

     

    #5 The good with the bad:

    There is a lot that can and still needs to be done to fast-track the evolution of our industry.

     

    Independent publications like MxMIndia dare to remind us of these glaring gaps. Regular features from critics like Anil Thakraney, who don’t shy from calling a spade a spade are invaluable.

     

    #6 The world, at your doorstep:

    There are so many learning opportunities and industry fora, that only a few privileged get to attend.

     

    Independent publications like MxMIndia open the world and minds of one and all, by their independent and unbiased coverage of events like Ad Asia, Goafest and Cannes. They play the role of our eyes and ears, as we learn from these platforms.

     

    #7. Kal kare so aaj kar, aaj kare so ab:

    Technology now allows us the opportunity to link with one and all, on an online real time basis.

     

    Independent publications like MxMIndia provide us Conversation dashboards, Twitter link, that help us to interact with Industry gurus and even publications like HBR, etc.

     

    #8 Your own guard-book of the world’s best:

    At the end of the day, it’s all about the work. And there is so much to see and learn from, that by ourselves we will never have access to.

     

    Independent publications like MxMIndia provide an AdStrat section, which gives a strategic perspective into some of the best and greatest industry work.

     

    #9 Who is who:

    How do you keep in touch with news and views, of an industry as big as ours!

     

    Independent publications like MxMIndia offer you a News section on brands and people, giving you a ring-side view to industry happenings.

     

    #10 Predict tomorrow, today:

    He who lives in the today, will soon be the past. He who can see the tomorrow, today, the future is his.

     

    If I were to sum the role of independent publications like MxMIndia, in our lives, they empower us…by helping us to understand the today, while helping us to learn from the past and helping us to predict the future.

     

    Ajay Kakar is Chief Marketing Officer – Financial Services, Aditya Birla Group

     

    Editor’s Note:

    He’s been our lucky mascot. Yes, Ajay Kakar wrote The Anchor on Day 1 of MxMIndia (The Anchor: 8 indications when you know it’s time to bid goodbye to your agency) and he wrote on Day 100 (The ‘Special’ Anchor: Ajay Kakar offers ‘100’ pointers MxM must remember in its journey ahead). And through this period he has contributed by way of writing or offering his views. Reason enough for us to have him (and only him!) write the Anchor on our first anniv.

     

  • Key points to remember which cash in on radio’s immediacy and appeal, from Rochak Kohli

    The Anchor: 5 ways a radio station can attract more listeners

    By Rochak Kohli

     

    #1 Be Here And Now – Topicality is the key to listenership. Radio is a here-and-now medium and one must stay true to its basic nature.

     

    #2 Entertain – Radio should act as best friend to the listeners. Entertainment doesn’t mean being frivolous… Radio should be meaningful entertainment. It should inspire listeners.

     

    #3 Utility Heavy – Regular utilities make listeners habituated to your station. They match their clocks with you, follow the roads as you say. Utilities are the easiest way of making radio part of the listener’s lives.

     

    #4 Interact – Listeners always feel special when they hear their voice on the radio. They feel heard, and believe that they are also a part of the system. An opinion, a dedication, a debate will make them stay tuned.

     

    #5 Innovate Constantly – Innovation always helps you remain fresh. It’s simpler to innovate in radio, as execution of an idea is instant. New benchmarks, surprise songs and new formats will make you the favourite.

     

    Rochak Kohli is AVP Programming at 92.7 BIG FM.

     

  • This is the digital space… fast, evolving, driven by the masses, if it's good it will sell online, writes Chhaya Balachandran Aiyer

    The Anchor: 5 Emerging Trends In Digital Media

    By Chhaya Balachandran Aiyer

     

    Funny that what is emerging today can become passe in couple of years, if not less. But that’s the digital space… fast, evolving, driven by the masses, if it’s good it will sell online. So if you had to look at the near future, and that’s just planning for the one year ahead, then here are 5 things that seem to be quietly brewing in the various nooks and corners of the wireless world – the Internet.

     

    #1 Mobile Internet: Don’t underestimate the power of mobile internet.  The number of people accessing the web on their phones is much more than those accessing via desktops/laptops. Mobile is very quickly but surely changing data consumption, infotainment, social connectivity. http://blog.bcwebwise.com/2012/06/08/web-internet-and-mobile-internet-usage-statistics-india-2011/.

     

    #2 Social is Going Visual: There is a lot of visual content out there, with the exception of twitter and LinkedIn where the visuals are yet to come of age primarly given the interfaces of these networks. Facebook, Instagram, Pinterest… its all about visual content that is getting shared  — images, videos — impressive compelling content that is engaging. Everyone is sharing and adding their viewpoint to these visual treats. Brands out there need to build their visual content quickly and smartly understanding that branded content will not be shared.

     

    #3 Digital AdSpends Unleashed: Even as a few homegrown giants have recognized the power of the digital media, and are slowly and surely increasing digital spends, most multinational players have mandates from their global headquarters to go digital. Indian arms are being questioned why their digital spends are less than 1 per cent of total ad spends. And CMOs are being forced to get involved in learning the digital ropes and diving deep into the digital waters themselves.

     

    #4 Digital Workshops: How can one increase spends when there is little knowledge to cope with the medium. Digital workshops within large MNCs are the order of the day. Indian corporations should ideally take a lesson or two and get their top line marketing and sales people, the decision makers to hone their digital acumen.

     

    #5 TV v/s Digital – Push v/s Pull : For the fence sitters still smug about TV reach v/s Digital reach – think about the 80:20 rule. That 20 which is the cream of your business is on the web, and they never were much influenced by TV advertising and even more so today. They are researching online, no matter where they are buying products from. It is all about peer to peer recommendation, perception, and information you have put out about your brand online, and how quickly you can respond to individual customers.

     

    Chhaya Balachandran Aiyer is Founder-MD at BC Web Wise Pvt. Ltd

     

  • A loyalty programme is a long-term strategy to identify, retain and grow profitable customers. Every enterprise should understand this and work towards it, writes Siddharth Reddy

    The Anchor: 5 benefits of loyalty marketing

    By Siddharth Reddy

     

    A loyalty programme is a long-term strategy to identify, retain and grow profitable customers. Every enterprise should understand this and must put in place a strategy to achieve these objectives. The benefits of a loyalty programme are many but these are five key benefits:

     

    #1 Know your customers better – The starting point of implementing a loyalty strategy starts with gathering knowledge about your customers; their purchase preferences, value potential, personal traits etc. Knowing your customers better allows you to communicate 1-to-1, set up a listening post, personalise your products and services and continue to be relevant to them.

     

    #2 Retain your best customers – Not all customers are made equal. Identifying your most valuable customers (MVCs) and retaining them drives long-term sustainable revenues.

     

    #3 Increase Lifetime Value (LTV) – The total potential spends from a customer over his lifetime is defined as LTV and maximising this potential through a loyalty programme drives increased revenues and higher ROI on customer acquisition costs.

     

    #4 Lower your costs – Loyal customers understand your processes and products better, are less costly to serve and less prone to competition lures, and try new products faster, thus ensuring lower costs in maintaining sustainable revenues.

     

    #5 Increase profits – According to Fred Reichheld of Bain & Company, it costs 6 to 7 times less to retain a customer than to acquire a new one. Reducing customer churn reduces overall costs and increases profits.

     

    Siddharth Reddy is the MD of BI Worldwide, India, a loyalty marketing, recognition and incentives service provider. He can be reached at Siddharth.reddy@biworldwide.com

     

  • It's small, pocket-sized, enticing, and very very immediate. But the smart screen comes with its own set of challenges for marketers, writes Anuj Kumar

    The Anchor: Six Smart Screen marketing challenges in India

    By Anuj Kumar

     

    #1 Fragmentation across smart screens. There are too many devices. Varied screen sizes, running multiple operating systems, form factors and soon. Only the very top publishers and premium publishers have their content optimized for access across all smart screen – tablets, mobiles, PCs and Smart TVs. It requires awareness and investments to ensure smooth presence across all. Publishers, app developers will have to invest in smart screen presence, which comes with its share of increase in expenses. Solution can be the use of standard formats like html5, tools and products to enable publishing & curating content experiences across smart screens.

     

    #2 Monetization options on smart screens are limited. Smart screen ad spends is a small part of the total ad spends but this is one of the fastest growing segments. Monetization of contents thru ads on smart screens would enable more publishers to invest in smart screen contents and apps in India. Specialist advice is needed for smart screens; specialized smart screen ad networks for publishers and smart screen ad solutions for brands.

     

    #3 Lack of seamless & integrated experience across smart screens. Acceptability among consumers and greater off-take will drive pervasiveness of mobile content innovations. This does not exist now. Users want content they can share and access their apps, profiles and contents seamlessly across smart screens. This takes time for the industry to establish. This can be fixed by the use of cloud computing, user identities and use of standard OS platforms.

     

    #4 Mass adoption and affordability. Costs of buying devices with smart screens and the cost of connectivity is a very important factor. Consumer numbers have to reach high levels for marketers to start targeting consumers with smart screens. Rate of adoption is typically driven by telco plans for data connections, price of smart devices going down, plans for buying devices and so on. All these are going down but can certainly be made more affordable. At another level availability and awareness of apps drives mass adoption. Apps can entice consumer from productivity, engagement, entertainment and other perspective to drive adoption. Solutions come from the lowering cost of devices, consumer schemes and building awareness on the benefits of smart screens and their corresponding value.

     

    #5 Ad challenges. Most ad agencies are not ramped up or fully equipped to advice on smart screen media & creative plans. They are used to working on the conventional media. Large agencies running large businesses on conventional media treat mobile marketing as a poor secondary marketing platform. Primarily because of the volume of spends and lack of expertise. Specialized agencies will change that. They will create innovative engagement solutions to attract consumers, in turn attracting brands and growing the ‘smart media’ marketing and time spent pie.

     

    #6 Complex ecosystem and ad formats without independent media monitoring & performance metrics, which restricts ad spends.

     

    Anuj Kumar is Co-Founder and CEO of Affle.