Sumit Mathur On India's Resilient Marketing Landscape & The Role Of AI
Acknowledging the cyclical nature of investment downturns, Sumit Mathur sees India’s resilience as one of the world’s most robust economies, a big advantage for businesses. “I am positive on the kind of investments that are going to flow into advertising, media and the wider industry in terms of marketing spend,” Mathur says.
He expects this trend in growing marketing investments to continue also due to the consistently growing consumer confidence. Although there is a focus on closely evaluating marketing investments, growth opportunities encourage companies to allocate resources to advertising and marketing.
The Old and the New
Mathur also believes in the coexistence of digital and traditional media in the time to come. He quotes examples such as the Indian Premier League, where both digital and television platforms continue to thrive. This balance reflects the evolving media consumption habits of diverse target audiences.
Mathur also draws attention to customer acquisition cost, explaining that while it plays an important role, caution should be taken against fixating solely on cost. He encourages marketers to consider various metrics, such as brand equity and consistency in investments when evaluating marketing performance.
Mathur reflects on the changing role of marketers, especially with the advent of generative AI (artificial intelligence). Marketers should unlearn and learn to adapt to emerging technologies and then deploy them effectively in their marketing strategies for the best results. He says, “People who are able to see how AI will be relevant in the ecosystem of what they are doing, and adapt, will be the ones who will be able to go further.”
Road Ahead
Mathur sees three significant trends in marketing. “First, the role of AI and more specifically, Generative AI, is a big trend. The second challenge is how with television, digital and now AI, the fundamentals of marketing and the way brand marketers understand it will evolve. I think that’s something that a lot of learning is going to happen within the marketing fraternity,” he says. Finally, the importance of core marketing principles, such as high-quality advertising, powerful insights, and creative briefs, despite technological advancements is another trend to watch out for.
Mathur asserts the balance between embracing new technologies and preserving core marketing principles. “Young marketers need to understand how to balance. The principles are the core fundamentals and they need to keep learning new things that are happening to build on this,” advises Mathur. He encourages marketers to be adaptable and understand the evolving marketing landscape while respecting the timeless foundations of the discipline.
