The confinement caused by the Covid-19 has sparked a digital revolution around the world. As a result, total digital advertising spend has increased. However, as the world opens up, we can see how experiential learning can grow and consume its digital part.
Expert Team Jahid Ahmed, Senior Vice President and Head of Digital/Web/Content Acquisition and Social Media Marketing, HDFC Bank, Rashid Sait, Vice President and General Manager, George P Johnson Experience Marketing; Lalatandhu Das, CEO of Performix India (a Publius Group company) and Kshitiya Saxena, Marketing Director of Audi Business, Jubilant Motors spoke at the 18th Marketing Conclave organized by the Internet and Mobile Association of India (IAMAI). .
Sait and Saxena supported experiential marketing, while Ahmed and Das supported digital marketing.
Argument in favor of test marketing
According to Saito, the tests are impressive for post-Covid returns. Marketers realize that people want human connection more than ever. “Shopping centers, cinemas, stadiums and everything related to the experience are full. To take advantage of this, marketers are putting experience at the center of their marketing mix.
He mentioned the Red Bull brand as an example, saying that the brand is based solely on experiential marketing.
“You will never see Red Bull ads because it is an experienced brand. They put on shows, they sponsor F1 and they invest in all kinds of adventures. As a result, customers become supporters and fans become ambassadors. Today, Red Bull is an 8 billion dollar brand. This is the power of experiential marketing,” he said.
Speaking of how spending has changed, the site cites a Gartner report saying: “Before the start of this year, digital budgets accounted for 70 percent of the marketing mix. In the year It will fall to 56% by 2022 and the trend will continue to decline.
Endorsing Saito, Saxena spoke about the importance of establishing an emotional connection with consumers. he said. "The question of whether or not digital is useful is definitely not going anywhere. It's all about your EQ (emotional quotient) when connecting with your target audience.
“The most interesting example is the World Cup, how many people have you seen tears of joy or anger while watching the game? The younger generation is excited to see their star at the concert.”
Saxena says it's important for brands to create an emotional connection with consumers. "The key is to keep turning on the EQ of the audience. The category I come from; we have to sell. The fans can forgive, but the customers complain. If you have a relationship with your customer, you will have more referrals and you will sell for free." added.
Arguments in favor of digital marketing
Mr. Ahmed said the ruling that digital technology will lead to trial costs comes in a day when people's basic needs have shifted to food, shelter, clothing and mobile devices. Today, digital technologies have become a way of life, he said.
“Let's see how digital has entered an industry where real life was the only way of life. OTT has a CAGR of 20% and has made 2-3 hours of daily network the end of the world for many. With e-commerce growing at 256 percent by 2022, today India is the world's third-largest e-commerce market after the US and China. When was the last time you personally went to the bank to deposit money? This is the power of digital technology,” says Ahmed.
“All this leads to an increase in the value of digital media. Ten years ago this figure was 5% of the entire advertising industry. Today it takes 38% of the advertising money. “If digital TV isn't mainstream, it definitely is. the main one and soon we will take over CTV," he added.
According to Das, nowhere else do advertisers spend more money than on digital. According to the FICCI report, the media and entertainment industry will grow 16% overall in 2020-2021. Meanwhile, digital marketing spending grew 29 percent. Where does the money go if not in digital form? she asked.
After the expert discussion, the audience had the opportunity to vote and choose the winner and the panel selected the winner for the test marketing selection.
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