Raj Rishi Singh On India's Positive Outlook & Marketing Strategies
In a year overshadowed by global economic uncertainty, India stands as a beacon of optimism. On this note, Raj Rishi Singh states that India’s marketing investments are poised for growth in the year ahead. Despite global challenges, maintaining consistent consumer outreach will remain vital for brands.
“It’s important to be consistent. Especially B2C (business-to-consumer) brands need to invest behind the consumer continuously,” he states, reiterating the significance of strategic and continuous investment in reaching consumers. There is also a need for brands to stay the course and differentiate themselves in this age of enhanced competition.
Traditional vs Digital
The Indian media landscape is fast changing not only due to the advent of tech but also due to the change in content consumption patterns and overall consumer behaviour. Singh acknowledges the rise of digital dominance. However, he says that a blend of traditional and digital media will persist in a country like India. “The mix of digital will definitely go up but old economy media will remain salient for a long time,” he notes. The choice between these channels depends on the target audience and their digital presence. While digital media is on the ascendant, traditional media continues to be powerful for certain demographics and categories.
Singh points out that marketers must view marketing as a business role, not just brand marketing. They should actively contribute to strategic decision-making and revenue generation, sitting at the helm of problem-solving. He also highlights the necessity for marketers to be tech-savvy and innovative. “It is extremely important for today’s CMO to be cognizant of technology, to keep experimenting with new tools and ensure they make it a part of their marketing program,” he says.
The Future of Marketing
Delving into marketing trends ahead, Singh draws attention to the pivotal role of technology. He envisions a future driven by technology-enabled personalisation, with generative tech shaping social content strategies. He also notes the ‘art’ of marketing, highlighting the importance of context-building alongside technological advances.
Data privacy is a paramount concern in this evolving landscape. Singh advises on the importance of using data transparently, respecting consumer consent, and safeguarding their data.
He encourages marketers to embrace change and not confine themselves to traditional marketing roles. “Marketing professionals cannot limit themselves to just being the typical marketer today. They have to be like a generalist,” he states. The modern marketer must be a versatile generalist, who understands technology, business and takes a holistic approach.
