e4m MarTech League: 'Brands that'll solve hyper automation & personalisation will lead'

The utilisation of data to build personalised and localised connect with consumers is the need of the hour. Brands that'll solve hyper automation and personalisation will lead the curve in the coming times, believe the esteemed set of marketers that came together for a webinar at e4m's MarTech League on June 12, 2020.
The panel discussed the topic 'Marketing Technologies India Needs in the Post COVID-19'.

The session was chaired by Pooja Jauhari - CEO - The Glitch, and had Ravi Santhanam - Chief Marketing Officer - HDFC Bank; Sandeep Anand - Chief Marketing Officer – Zomato; Taranjeet Singh, Managing Director - South East Asia & India at Criteo; Nikhil Rungta - Country Manager – Verizon; Sandeep Balani - Head of India – Outbrain; and Ruchira Jaitly - Head Of Marketing - HMD India, as panellists.

While opening the discussion, Jauhari quoted a report by creative agency Mirum that said 80% of the organisations are keen to invest in the tools of digital technology options, especially post COVID-19.

She asked Jaitley to share her thought on the future of MarTeach in India. Answering, Jaitley said that MarTech is one of the most competitive industries, but it is a huge help for brands to reach the consumers. "We need to keep fencing the message for the consumer based on their current choices. That's where data plays a big role. Each choice needs to be looked at and personalised,” she said.

Adding to Jaitley, Anand said that personalisation is the game-changer for marketing today. It is used to enhance preference and consideration. "Data is the king when it comes to generating personalisation, identifying needs and having a loving outlook towards them," he said.

Talking about the change in consumer behaviour due to Coronavirus pandemic, Singh said, "Marketers have always had a problem building relevance. But with COVID, it's going to lead to a change, even in human behaviour. Any brands leading change in behaviour will stay."

Balani added to Singh’s statement and said, "It's all about utilising data for the effectiveness of changing consumer behaviour."

Singh further observed that India as a whole is still way behind in using data as an asset. But, the conversations leading to hyper automation and hyper-personalisation have started.

He pointed out, "COVID is teaching us lots of things and none of us on this panel can predict consumer changes six months down the line. Yes, there's going to be AI and cloud adoption." He added that any brand that will solve hyper automation and personalisation is going to lead the curve in future.

Taking the discussion forward, Rungta said, "Fundamentals of marketing don't change. Either you get new users, or you get the existing users to use more." He added, "MarTech helps in generating ROI, which helps to acquire or engage and retain new user."

Rungta further said that with the onslaught of COVID, marketers have realised the need to use more tact. In the new world, it'll be about how well you know the consumers. "We're moving from attribution to agility. We need to reach users in real-time and also analyse data at the same time. Augmented technology exists on a big level, today," he explained.

Santhanam took the conversation further and joked that if today, brands have any kind of consumer data, and they are not using it to build a better reach to the consumer, it should be considered criminal. He informed the panel about the survey HDFC did where the consumers said, "Trust is no more about keeping the money safe. It's about 'if you know so much, then why aren't you talking about it?'

"Incremental revenue is the priority to bring in to the business with the lowest amount of friction in the quickest way. Always put data first against a used case," he added.

According to Singh, in the COVID affected world, where the consumer is stranded at home, entertainment, food delivery, sports etc., are all on the rise. These areas are where marketers need to solve issues for customers. “It's about how do you keep the likes going," he said.

Furthering the conversation, Rungta said that MarTech is a long term investment, brands should make. According to him, "Having a long term vision is the key. One has to look at MarTech as we look at buying a consumer durable. People aren't sure about MarTech as an investment but it'll be beneficial in the long run."

Anand pointed out the importance of building an omnichannel approach to reach the consumer in every possible way. “On omnichannel, we've started taking baby steps. We have to reach out to the consumer in every possible way. Digitization will be the big player," he revealed.

“Emerging channels like DOOH, there will be a huge property spike. Even news is going programmatic. With the new technologies, we need to be more granular and immersive," added Rungta to Anand's statement.

Anand added that the sentiments in the COVD and the post-COVD world will have a tentative recovery. “MarTech tools will have a bright future because in the continuum of effectiveness and efficiency will need it," he concluded.