Data Is Defining Market
We hear much about targeted marketing but do you think it is delivering as per expectations?
Programmatic is taking shape very rapidly in terms of precise targeting. First-party data and the resulting ability to target sharply is on the rise and is used by marketers very often. Gone are the days when spray and pray used to be the game for marketers. Another trend that is now really coming to the fore is personalisation, which is also driven to some extent through programmatic. Traditional marketing hasn’t evolved much. Personalisation changes sharp targeting and, due to that, it has brought efficiency to how we spend money. Data is going to change marketers’ lives because marketing budgets are increasingly shifting towards digital.
What are some of the key strategies you are following for the upcoming year?
Our ability to understand consumer intent and to score that intent quantitatively allows us to focus more on high-intent consumers as opposed to people who are window shopping. This is a result of data science, which helps us improve marketing efficiencies. Data science in marketing is going to be very very critical for every digital marketer.
Some industries are seeing the rise of new tech as well such as augmented reality and virtual reality such as automobiles. But for me, the adoption of these is still a couple of years away. Nobody knows today how it is going to help us.
How are you seeing other forms of media shape up as digital picks up?
Traditional forms of media are still very relevant. Consumers are just not on their phones or their laptops. Hoardings still exist as does the physical world in which we live. A consumer is not a digital-only or offline-only consumer. You need to find every possible way to reach the consumer. The budgets skewed towards digital media are increasing but TV budgets are not declining. Print continues to grow in India as well. The consumer just consumes one more channel now and marketers need to understand and respond to this.
