CMOs believe digital marketing is way forward

21 Jun,2013

By A Correspondent

 

Digital Marketing was the theme of the 9th Marketing Conclave organized by the Internet Mobile Association of India (IAMAI).

 

The marketers across categories agreed the digital marketing is the way forward. The common belief among the panelists was that interactivity, engagement and measurability are making the marketers look at it far more seriously now. While they are using digitally differently based on where in the product life cycle their brand really is, they were united in their opinion that digital marketing is here to stay.

 

Focusing on the auto sector, Vivek Nayer, Chief Marketing Officer – Auto Division, Mahindra & Mahindra said, “The key to success in digital marketing is content. As the platform allows multiple points for brand storytelling, it is imperative that the space is used judiciously. Digital marketing has made consumer the most powerful person for a brand. The space is all about conversations and how consumers are engaged”. He showed some interesting examples to establish that digital marketing helps in better customer engagement and association.

 

Added Vivek Srivastava, Head – Marketing, Renault India, “The best aspect of digital marketing is it helps a brand to create impact and also measure the same, which cannot be obtained by traditional marketing”.

 

Addressing a session on Digital Marketing – Retail, Vinay Bhatia, Customer Care Associate and VP, Marketing & Loyalty – Shoppers Stop, emphasized that every company should have its tailor made digital marketing strategy based on its requirements. He said, “There is nothing wrong or right in digital marketing. All of us are in the experimental stage and yes investment in it is already showing benefits”. He went on to add, “Social media provides thinking data. If aptly used, it can turn around business. We have substantially increased our digital marketing budget”.

 

Andrew Campbell, Chief Brand & Marketing Officer – Reliance Industries, meanwhile stated that while all customers might not shop online, they use digital platforms to be better informed. He said, “Retail is all about Trust, Value, Service and Growth. What has changed over the years is the Scale and Channels. Digital marketing helps to create a bond with the consumer”.

 

Inaugurating the Conclave, Rajan Anandan – Chairman, Internet And Mobile Association of India (IAMAI) pointed out that while India is witnessing great increase in Research Online Shop Offline, at the same time e-commerce sites are doing excellent business.

 

According to the IAMAI ‘Digital Advertising in India’ report, the online advertising market in India is projected to reach Rs 2,938 crore by March 2014. The report finds that by March 2013, search advertising constituted about 38 percent of the total online advertising spend, translating to about Rs 850 crore while display advertising form a sizeable 29 percent (Rs 662 crore). Advertisements on mobile phones and tablets have grown from a 7 percent share in FY 2011-2012 to 10 percent of the Indian online ad market in FY 2012-2013, totaling to spends of around Rs 230 crore. Social media, email and video advertising constitute 13 percent (Rs 300 crore), 3 percent (Rs 68 crore) and 7 percent (Rs 150 crore) of the online advertising market, respectively.

 

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