Shubhranshu Singh Envisions Growth In India's Marketing Landscape
For Shubhranshu Singh, marketing wasn’t just a career choice but a calling. His entry into the world of marketing was driven by a desire for unending curiosity and creative challenges. He looks at marketing as a discipline that intertwines with virtually every aspect of the world, from finance to sociology or entertainment to consumer trends.
The Marketing Scenario
With India’s robust economic growth and an increasing consumer base, Singh predicts a significant upswing in marketing budgets. He envisions ad spends increasing by 13-15 per cent in the upcoming year. He notes that established industry leaders often drive ad spend growth, but newer sectors such as ecommerce and edtech may exhibit more caution in the short term.
In the age of digital dominance, the debate between digital and traditional media rages on. Singh emphasises that both have their roles to play in the marketing mix. While digital media has witnessed tremendous growth and has become a part of daily life, traditional media, especially television, remains a significant and effective medium. In regional markets where language plays a crucial role, traditional media holds its ground. Events such as the ICC World Cup continue to draw viewership to television, indicating that it’s far from losing its relevance.
Marketer’s Role in AI Age
The rise of generative technologies has raised questions about the future of marketers. Singh believes that the rise of artificial intelligence (AI) does not threaten the existence of marketers but enhances their capabilities. “AI’s ability to simulate human-like interactions and enhance personalisation is valuable, but it does not diminish the significance of marketers,” he says.
Singh believes that marketing inherently involves creativity, empathy and an understanding of human behaviour. AI can assist in the creative process but cannot replicate the depth of human insight.
As regulations surrounding data privacy and security become more stringent, Singh views these developments as positive for marketing. Stronger data protection norms will increase consumers’ trust in brands. “Brands that earn consumer’s trust will have greater permission to use first-party data and provide more personalised and valuable experiences,” he says.
Marketers who respect data privacy and use data responsibly will earn consumer trust and deliver more personalised and relevant experiences. Data is an asset, but its ethical and responsible use is paramount.
“Marketing is about creating value and enriching lives,” states Singh. His advice for budding marketers is around the importance of curiosity, honesty and a balance between analytical and creative thinking.
