Looking At The Next Normal, Now

As the world becomes more digital, fragmented and fast-paced, the pace of change in marketing is posing newer challenges for leaders. To stay in line with the new generation of consumers, marketers must be bold and make decisive big bets to drive growth for their businesses - this was the overarching advice from Ashish Mishra, Chief Marketing Officer of Acko as BW Businessworld caught up with him at the Goafest 2024 in Mumbai.

Reflecting on this year's theme of the festival, ‘The Age of Adaptability’, Mishra highlighted that adaptability is a permanent requirement, not a year fad.

“Every year you need to be adaptable. Every generation will have to learn this, reinventing themselves and adapting to the market dynamics,” he said. In today's commercial battleground, chief marketing officers (CMOs) cannot rely on legacy tactics but must continuously adapt their strategies, whether old or new.

Imperative For CMOs

Mishra stressed the importance of strong fundamentals in advertising and marketing. “If you have strong brand-building fundamentals, you will always succeed in any market,” he stated. However, he cautioned that great fundamentals alone are not enough - marketers must pair them with a willingness to continually learn, adopt new technologies and evolve their approaches.
The ability to make calculated, forward-looking bets separates the marketing leaders from the laggards. Mishra advised, “Strong core marketers who are ready to change and adapt their output always succeed.”

Clinging to what has worked in the past is a recipe for stagnation and decline in this era of perpetual reinvention. Mishra’s insights underscore the need for CMOs to embrace a growth mindset, continuously learn and fearlessly adapt to new realities. By making big bets and staying true to their brand-building fundamentals, CMOs can position their organisations for long-term success in an age where adaptability is paramount.

The adaptability imperative has never been more crucial as technologies like AI, Web3, the metaverse and experiential marketing rapidly reshape how brands engage consumers. CMOs must get in front of these trends, making bold bets to capitalise on emerging opportunities. As Mishra said, "There will always be challenges, but if your marketing fundamentals are clear, you will always be successful."

Capturing Global Attention

As the Cannes Lions International Festival of Creativity approaches, Mishra expressed that India's contingent would have another winning year.

“India has been performing well at Cannes Lions over the years, barring some years and I hope 2024 will see a good year again,” Mishra remarked. “We're a global creative powerhouse. Cannes Lions has also managed to attract a lot of interest over the past years, and that has given a lot of advertising agencies some more boost to be able to do edgy work,”he added.

Reema Bhaduri

BW Reporters The author is the Editorial Lead at BW Businessworld. Majorly writes on marketing, advertising, experiential marketing and retail. She closely looks upon the vertical of BW Marketing World and BW Retail World.