Marque, The Marketing Club- June Edition by Marketing Club

FROM THE EDITOR I am glad that the marketing club got the opportunity to use its monthly magazine as a platform for all the young marketing enthusiasts who are curious to let out their views on various topics. It gives me immense pleasure to write this message as Editor of this unique edition of the magazine. The theme of June’s edition revolves around the usage of technology and brand advocacy in marketing. The theme revolves around marketing in the covid era. This edition has a lot under its umbrella, from doing a thorough analysis of various hidden inferences of marketing and consumer approaches to reinstating brands’ latest buzz. I extend my warmest gratitude to all the authors for their interest, enthusiasm, and well-documented submissions of excellent articles and participation in this magazine’s building. I firmly believe that no matter how your magazine is delivered; either at your doorstep or to your computer, printed on glossy stock or on cheap tabloid paper, appearing on your iPad or your cell phone screen, it is still the work of an editorial team for a discerning audience, a beautiful and meaningful (we hope) package of ideas, words and images put together by a group of experts for its readers. While technology efficiently delivers new stories to our desktops, laptops, and mobile devices, magazines are all about context – how ideas and images are presented in relation to one another and spanning a broader perspective. We, the editors, will always strive to keep you engaged.

CONTENTS 01 Digital Transformation in Marketing

03 hould brands board the vaccine train?

09 Buzzfeed

05 The Age of Hyper Personalization and Technology in Marketing 13 How brand advocacy campaigns rocked social media

15 Marquing The Moments

Digital Transformation in Marketing Rahul Chate Symbiosis institute of Digital and Telecom Management

“Digital Transformation” is a buzzing word these days, this term is continuously heard in board meetings and business interaction, although the crux or meaning of it remains equivocal. Certainly, we realize that it has something to do with improving technological frameworks, however, what’s the significance here for us, as marketers?

stages? Are there better alternatives for the necessities? A careful a udit of these tools and channels will guarantee a sufficiently furnished to drive the organization to progress.

What is Digital Transformation in Marketing A digital transformation in marketing refers to paradigm change or shift from digital complacency to the active pursuit of digital excellence via proper usage and optimization of digital resources and channels. More specially, this indicates refining the virtual channels to benefit deeper insights that tell the method and enhance the consumer’s satisfaction.

Improving the Customer Journey The high-level experiences it will acquire from improved channel incorporations will help in rotating the system for progress. Furnished with a comprehensive perspective on the marketing funnel, it can undoubtedly recognize shaky areas and openings for development. It additionally has the option to give a more customized, important experience for leads and clients the same.

Breaking the Silos In case you’re befuddled about what “Digital Trans- As well as advancing the digital channels, one needs formation” really implies, it very well might be to ensure these frameworks are conversing with one because there is no single definition. The term has another and cooperating. At the point when the various implications relying upon the business or of- digital tools are working in a siloed design, there is fice it’s alluding to. For HR experts, a Digital Trans- a passing up of the master plan. Signing all through formation implies mechanizing measures, digitizing five distinct records to follow a client’s excursion is records, and utilizing innovation to follow profcertifiably not a productive or reasonable approach itability. In Accounting, a Digital Transformation to work. A client data platform (CDP) can go about denotes the move from paper-based agreements and as the connective joint that combines these stages, solicitations to electronic agreements, information furnishing with an all-encompassing perspective on assortment, and reporting. the whole client base.

Following are the ways what a digital transformation The potential of digital transformation for marketlooks like for marketing: ing Marketing strategy, in the digital transformation Refining the Digital Channels context, is meant to help the consumer via various The initial phase in a digital transformation is to paths of the consumer satisfaction and journey. It evaluate the estimation of the present showcasing increases cognizance through broadcast channels, devices and channels. Investigate the site, web-based develop interest in content, builds desire through media, automation tools, examination stages, and communicating value propositions, and drives acclient database. Could it be better to utilize these tion propositions. Following digital transformation,

marketers need to not best reconsider the approach however additionally the entire marketing version. That is, rather than making plans to guide a standard purchaser through the shopping for the funnel, marketers ought to now devise a method that ambitions to observe the conduct of people via their specific customer journeys and react accordingly. And with their new method, marketers must pick out the ‘inflection points’ which suggest a shift within the customer’s desires or a change of their aspiration. Inflection points display that marketing has correctly moved a person from certainly being aware, for example, into being interested or from the expertise the cost of the product to asking how they can join up. Then, with the usage of inflection points and new digital technology, marketers can react in actual-time to the person and supply the ad, email, social media post, and so on. Which recognizes the client’s exchange in perspective and keeps them surprisingly engaged. For example, if a consumer clicks on a ‘cognizance’ ad and then browses via product records, they should now be considered ‘fascinated’. All marketing, emails, and other interactions with customers should have kingpin on moving them closer to a choice or buy. That is, with the usage of digitalization, marketers can now structure the communique so that every character is getting the extra information they need at every degree of the consumer’s adventure. Key Drivers for Digital Transformation in Marketing 1)Driven by data: Data is the core of any digital transformation of marketing strategy. This foundational element refers to processes and technologies associated with facts control, integration, and identity resolution. Data should be unified across divisions and ideally with external companions. With data analysis in silos, it will likely be difficult to recognize precisely which customers are in the buying system. 2) Powered by automation: To supply the individualized marketing experience, marketers will want a high stage of stronghold over their channels. Only then they will be capable of identifying inflection factors and make sure that what they are delivering satisfies client wishes to every degree Automation mixed with metrics means that patron behaviours is being tracked, it is able to be addressed without

always requiring a human to oversee the activity and be fortunate sufficient to seize it and react to it in time. Digital transformation now means that once positive facts or moves are recognized, the software program can act upon those situations to ship emails or personalized responses quick, without having to notify a human agent to act on a time touchy difficulty. 3) Optimised by analytics: Finally, none of this works without being capable of seizing and examine customer behaviours throughout digital channels. Capturing and analysing interactions for man or woman channels limits your capacity to derive prescriptive insights that follow the wider patron adventure. By moving faraway from siloed data infrastructure, you’re capable of run greater unified reports that find broader actionable insights that make customer experiences greater applicable. Experiments, iterative adjustments, and slow enhancements all work in the direction of a foremost consumer-based advertising approach. 4) Orchestration: The orchestration aspect of digital transformation foundation is where you look on creating audience and content to build out a customer journey. With an information infrastructure constructed for digital transformation, it may get integrated with consumer characteristics and interaction facts that you may segment globally and locally for audience control throughout channels, features, and tools. So overall on implementing digital transformation in marketing one must take small steps in the direction of the larger aim. One should look for alternative method for ‘waterfall’ models which plan the whole lot first, then execute, after which subsequently test. Instead, they must include more agile marketing which promises changes in small chunks with condensed timelines. Digital transformation can have huge spectrum effect on business operations and marketing activities. The keys to know what’s involved, learn from digital leaders across sectors, and ensure your company has the technology, processes, and talent in-house to progress and thrive.

SHOULD BRANDS BOARD THE VACCINE TRAIN? Khyati Mehta NMIMS, Mumbai

Brands have an important decision to make as Covid 19 vaccines become more available: Should they promote customers to get vaccinated or stay silent on this subject? And do customers want their loyal brands to speak up on this subject? Krispy Kreme: Does the donut help? Let us look at Krispy Kreme, they announced that they will be giving away 1 free doughnut every day for the rest of 2021 to anyone who is vaccinated and has a vaccination card as proof. The donut does help According to a Harris Poll and Adweek survey, survey, 70% of customers believe that the benefits of brand rewards such as those given by Krispy Kreme will help promote more vaccination. The same respondents said the promotions could have a positive effect on their purchases – 60% said that they are much more likely to purchase from a brand that offers vaccine promotions. In the survey by Harris Poll and Adweek, they surveyed 1,100 Americans to see how brands could react to vaccination. They came up with the following insights: The majority of respondents accepted that non-healthcare brands should use their platforms to support Covid-19 vaccinations. Although 60% agreed that brands have an “obligation” to encourage people to get vaccinated, a greater percentage (70%) said they support brands sharing accurate details on how and when to get vaccines. Furthermore, 62% believe brands have a duty to go beyond knowledge distribution to refute misconceptions about Covid-19 vaccines. Nonetheless, there was one middle-class section: a majority of respondents with a household income of $50,000 to $75,000 disagreed that non-healthcare brands should promote Covid-19 vaccination.

This can help brands increase their brand value. A brand’s value depends on 3 things: Presence, Affinity, and Trust. By pushing for people to get vaccinated. They will be present in on-going conversations in the digital world and the physical world. Sweet brand rewards like that by Krispy Kreme can help increase affinity. What else can brands do? Apart from promoting vaccines through brand rewards and integrated communication on social media and their websites. They can give paid leave on the vaccination day, sponsor employee’s vaccination costs, offer logistical support to the government, and help remove disinformation regarding vaccination. What are Indian Companies doing? Reliance Industries ltd is going to vaccinate all its employees and their family members free of cost. IT services majors like Infosys, Capgemini, and Accenture also announced plans to cover vaccination costs for their employees. Edtech company upGrad also will be covering 100% vaccination expenses for all its employees including contract workers and interns and their families. While Swiggy announced cover for all their delivery partners. Like this many other companies have pledged to help vaccinate their employees and have come under the limelight for their positive efforts. But India is yet to see any marketing effort by private companies which will encourage their customers to go vaccinate for an incentive. Will a promotional campaign like that of Krispy Kreme work in India?

The population of the United States of America is 1/4th of India’s population and a similar campaign may not be sustainable in India. One option can be providing a discount with every purchase or monthly free product or service for the rest of the year in 2021. Another possibility is providing a one-time reward. But an issue with a one-time reward campaign can be that it may not be a big enough reward for people to consider it seriously. For example, Burger King India can give out its ‘Crispy Veg Burger’ for free, every Monday, to anyone who gets vaccinated for the rest of 2021. Vaccines are only effective if enough people take

them – and encouraging them to do so presents a major marketing obstacle for pharmaceutical companies, medical professionals, and the healthcare organizations. Marketing efforts by private companies and brands will not only have a positive influence on their brand equity but also increase the vaccination count. We have seen US brands stepping up their game in promoting the vaccination drive, but not so much in India. Do you think Indian Companies are doing enough by just sponsoring their employee’s vaccination costs? And will Krispy Kreme’s free doughnut strategy work in India?

The Age of Hyper Personalization and Technology in Marketing Abhishek Ranjan Goa Institute of Management

Abstract The fast evolution of technology has allowed data to be leveraged more efficiently. It is being used to provide more personalized and targeted products, services, and content to the customers. Personalized marketing involves creating personal interactions and experiences for both existing and prospective customers through the

that involves elements of machine learning, artificial intelligence, and biometric identification, and all of them getting very well integrated with one another to cater to the customers with personalized promotional opportunities. Many companies are in fact working to strengthen their brand communication through hyper-personaliza-

Source: https://webengage.com/blog/hyper-personalization-marketing-future/ use of different digital marketing techniques to grow them into the best customers. Hyper personalization is a more advanced and the next step to personalized marketing. It leverages Artificial Intelligence (AI) along with real-time data to produce more relevant content, product, and service information for every user. With evolving customer trends, it has become a necessity to stay up for the marketers and the hyper-personalization of the marketing activities has become possible. This inclination towards targeted shopping experiences is mostly because of the advancement in marketing technologies

tion. Gartner reported that companies investing more in online personalization technology are outselling their competitors by 30% approximately. Inculcating hyper-personalization is definitely going to shift customers from the top of the funnel awareness to after-sales happiness through higher and more effective engagement at every stage of the sales cycle. Keywords Data, Technology, Hyper-personalization, Brand Communication, AI, Marketing, Purchasing Habits

Discussion Hyper personalization helps to create engagement among the customers to tailor their experience with a particular brand. For any company, knowing only the customer’s birthday is not enough. To keep customers more engaged, it is necessary to know their kid’s birthdays, their favourite sports and team, favourite holiday destination, and how operative they are on social media handles because based on these traits only, brands can offer them relevant rewards and experiences. It also provides the marketers the tools and knowledge required

was used by companies to store and manage data that was functional and allowed the employees to know the necessary details of the person they were talking to on the other side of the communication channel. Today, people are tech-savvy and multi-connected using a number of technologies and networks to satisfy their requirements. With minimum effort, the customers now anticipate real-time responses with access to relevant rewards and expecting to receive an absorbing experience. To achieve this, companies have had to analyze and improve the experiences they deliver across each medium in order to thrive,

Source: https://blog.goodaudience.com/the-age-of-hyper-personalization-and-ai2400d7efcb4 to deliver the right message to the right person at the right time by making use of richer behavioral and intent data to create a communication that hits the needs and pain points of every individual. A combination of engagement and delivering relevant data creates the most important element of a business i.e., trust and hence a real differentiator. In the upcoming years, the marketers will have to emphasize a lot on building trust through personalization. The kind of content that needs to be delivered to the customers today must be based on their specific intent, needs, and requirements. The key to carry this out is to follow a data-driven approach that is personalized for each customer at every point along the journey and its proper implementation will lead to higher engagement and more prospects, larger pipelines, and hence more customer acquisitions. Earlier, customer relationship management (CRM) technology

so that they can progress into a more sophisticated, intuitive, and customized relationship with their clients. In order to reach prospects with an appropriate and invigorating message at the right moments that are more likely to evoke conversion and attention than communicating through the traditional blanket mail of old, the marketers need to apply innovative data-driven marketing techniques. Gone are the days when a general advertisement to all the prospects would successfully engage a wide variety of customers. With its advancement, technology now allows the brands to carry out unique and personal interaction with a specific customer that results in a healthy relationship as the customers experience a personal connection with the brand. While utilizing data, the most important thing to be taken care of is that any data is only valuable if it has been gathered and manipulated in the right way. The most encouraging thing is the response of the customers to the hyper-personalization techniques.

Accenture reports claimed that around 49% of the buyers do not object to getting their purchasing habits monitored provided they are offered appropriate deals and the focus on relevancy is a clear indication that no one wants to get overloaded with spam. Research states that around 50% of the customers prefer getting recommendations based on their preferences and past purchases. One of the best examples of hyper-personalization is Amazon that has

The above graph shows that premium brands such as Amazon, Spotify, Starbucks have already been using hyper-personalization techniques very efficiently for such a long time where a whole range of variables are evaluated by AI and machine learning so as to improve their recommendations to the end-users. Mostly, brands that are plashing in personalization do not require to move beyond their segmentation. Netflix counts the number of likes and dislikes

Source: https://webengage.com/blog/hyper-personalization-marketing-future/ entirely revolutionized the e-commerce industry and has reworked the customer experience. For example, its “frequently brought together” and “customers who bought this item also bought” push the customers to spend more and it is the consequence of such algorithms that around 35% of the purchases on Amazon are a result of the recommendations based on it. The availability of data allows the marketers to understand the buying habits of customers and hence they easily recognize their desires even before they enter the marketplace. It is also in the retail industry that hyper-personalization is gaining lots of attention and companies are working to strengthen their data collection techniques.

and based on it assigns a star rating. Its algorithm also includes the counting of streams for a particular show and analyzing the nature of individual user profile, it predicts and recommends the contents that best fit a specific user. Another research from Accenture revealed that around 75% of the buyers are more likely to buy from a business that delivers customised services based on their individual needs and preferences. A very common example is getting prevalent in the field of nutrition, where diet plans are customized based on the patient’s DNA and nowadays, a lot of similar hyper-personalization activities are becoming the norms in different fields.

General Framework for Hyper-personalization

Source: https://medium.com/smartkarrot/hyper-personalization-the-next-wave-of-customer-engagement-9e68c7a7c9ad Conclusion It is of utmost importance to create a repetitive and flexible process to match the market competition with varying customer demands. The customers want an intensified level of personalisation with brand products, communications, and the marketing tactics customised as per their specific tastes. A personalized experience increases goodwill and brings loyalty to the brand. Given that 40% of consumers abandon a website and shop from a rival brand after being overloaded with options, hyper-personalization aids them in solving this issue by presenting them with only the options they need. Customer expectations have changed and now they demand highly organised offers and those who can deliver personal and relevant experience will be the most successful. It is very much critical to understand that there is no any fixed and readymade description of Hyper Personalization because it differs from one brand to another and it is also the next big thing in the evolution of Digital Marketing. As a marketer one should examine the current personalisation manoeuvre, determine those data that are not being utilised, and finally discern the chance to gather such data. This will allow to deliver hyper personalized experiences, which is what the customers want and expect to be conveyed. Data is the building block for personal, relevant, and intelligent marketing and once the technology and strategy are put in place, hyper-personalization will do wonders for the brands.

#BUZZFEED #BUZZFEED

Brands turn Ronaldo’s Coca-Cola snub into a marketing moment Zomato offers Rs. 25 lakh for consumer created ad

At a Euro 2020 post-match press conference, Cristiano Ronaldo removed two bottles of Coca-Cola kept in front of him and asked people to drink water. This move brought down the brand’s market sharecan instantly and triggered a wave of memes and moment marketing Zomato is proof that they turn criticism into a super innovative marketing campaign. After conamongst other brands.expressed Coca-Cola lostgrowing $4 billion in market value as stock prices dropped 1.6% sumers. After consumers their boredom with Zomato’s monotonous YouTube and as they wentusers fromtook being $242 billion to $238 billion. TV ads, some to worth social media to criticize Zomato’s butter chicken ad. However, Zoamto seems to have played its cards well by coming up with a smart idea to help it come up with fun campaigns engaging withmanufactures their customers. In its while ad, Fevicol, which adhesives, said: “Na bottle hategi, na valuation ghategi

(Neither the bottles will move nor will the valuation drop).”

The wentMD all out, proclaiming that the ads doMarketing suck. So now, it has opened the floor for creative R Sfirm Sodhi, at Gujarat Cooperative Milk Federation(GCMMF) tweeted an ad ideas from customers. What was commendable was that, apart from the novel idea, they also shared with the Amul girl that said “Not bottling one feelings.” the feeling with their customers that made them win many hearts.

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#BUZZFEED

Brands mark Pride Month with new launches and logo changes As June observes Pride Month globally, brands are showcasing the rainbow euphoria that brings the entire LGBTQIA+ community together to spread the message of equality. Senco Gold & Diamonds, for instance, appointed gay athlete Dutte Chand as its new brand ambassador who will feature in a campaign to promote lightweight jewelry range Everlite. For instance, direct-to-consumer apparel and accessories brand Bewakoof, which targets young consumers, launched a collection with rainbow-themed apparel, footwear, and accessories. Prabhkiran Singh, the CEO & founder of Bewakoof said that the LGBTQ+ community in India is slowly finding acceptance (much needed and deserving) in the social fabric of the country, but a lot more needs to be done. Similarly, Fossil Watches introduced a Pride Collection. On the other hand, Kay Beauty, the beauty brand created by actress Katrina Kaif in partnership with Nykaa, has collaborated with influencers from LGBTQ community to create make-up looks. Various brands that are talking to urban audiences who are globally exposed and aware of LGBTQ conversation would be better fitted to do such campaigns.

#BUZZFEED

How brand advocacy campaigns rocked social media? Nimisha Darira IIM Raipur

“Powering your digital dreams, taking your business ahead” is the trending quote and I am sure we all would agree with it. We are living in a digital era. Hence, we cannot isolate ourselves from the digital world. Brands stay updated with the changing trends and work hard to be well ahead of time. Digital presence is as important as physical presence for the brand and in some cases the online initiatives reach even farther than the physical ones.

We all try to catch up with the social media trends. Not that teenagers but people from all age groups are glued to their mobile phones especially social media. What they see on the screen influences them the most and they find pleasure in being a part of the trends that go viral on their favorite social media sites. Hence it is important to target audience at the place where they spend at least 3 to 4 hours of their day.

While campaigning the brand on social media, a few points must be kept in mind-which social media to target? Is it a feasible idea? Will it give enough output that will be enough to cover all expenses? We must select those social media apps that will have the biggest impact. It will depend on our brand, the campaign and

the preference of the target audience. The most used social media apps are Facebook, Instagram and twitter. Worldwide Facebook has 2.7 billion users, Instagram has 1 billion users and twitter has 290.5 million users. The campaigns output must be measurable. The budget, the timeline and the results must all be in check.

The success of the advocacy majorly depends on the advocates. Gone are the days when audience turned into customers only if it had a super pricy celebrity as the brand ambassador. Now-a-days employees working for the brand are considered the best advocates. Making employees as advocates has many advantages. People connect more in a small circle and when they see employees having firsthand experience with the brand advocating it, it will influence them even more. Employees can be provided with the content that they can post by the company hence company Another sweet initiative that I would light to highlight is that by Starbucks titled “@tweetacoffee”. Users were provided with a twitter handle. They just had to add the twitter handle of the individual whom them want to gift a coffee and this way they could order free cups of Joy for their loved ones. With the help of smartphones, this process was very simple and could be completed with a few clicks.

will not have to keep a check on the content of each employee to see if it is appropriate. The employees that are doing a good job in advocating the brand in terms of spreading the post and converting the followers into customers can be awarded with some incentives. In this way, employees will be more aware and connected with the brand. Today’s audience wants more of a common man connect. A simple example of it would be Apple. Apple needs no introduction. It stands as a symbol of style and status. When it had to advertise its iPhone, it chose a simple selfie taken by one of its users. The campaign was titled Three Minutes. It featured this selfie on all billboards. Result was users were able to relate more to this selfie taken by a real user and this forms an emotional connect between brand and its customer,

Each social media app demands different content. Being lazy and sticking the same content to all the apps will not fetch the expected customer base. Hence relevant hashtags and mentions should be made wherever necessary. Also, the timing of these campaigns is also very important. It cannot be posted randomly anytime. Special festivals, events and holidays must be checked in advance to be timely with the campaigns. A lot of effort goes in creating an original campaign hence tracking its success from time to time becomes an important task. As an ending note I would like to quote- “If brand love is fire, social media advocacy is its fuel”.

M M

Marque - The Marketing club, IIM Rohtak

THE

ARQUING OMENTS

MARQUE - THE MARKETING CLUB INDIAN INSTITUTE OF MANAGEMENT ROHTAK

marketingclub@iimrohtak.ac.in

DISCLAIMER: The views and opinions expressed in this magazine are those of the author and do not necessarily reflect the opinion of the stake holders of IIM Rohtak EDITOR : Niribili, Priya, Thiviya DESIGN : Chetna, Nireka FOLLOW US ON :