Brand World Virtual Summit 2021, Marketing and Advertising News, ET BrandEquity
Angel Investor and Business Strategist Lloyd Mathias said: “Brands will allocate their spending to media where consumers spend more time. Attracting the interest and attention of a consumer is the key to a brand’s success.
Clearly, as more and more consumers go digital, brand digital spending is skyrocketing. ”
According to Mehul Gupta, co-founder and CEO of SoCheers, before allocating budgets to a medium, brands should answer the following questions. “What is our main goal? Where is our main target audience located? What is the volume of audience available to target through the media? Where and how do we want to position our brand? How accurately will we be able to track our return on marketing investment? Will we be able to collect effective data and use it to make a stronger campaign next time? ”
According to him, answering them will help to understand where the brand wants to position itself, and budgets can then be allocated accordingly. For example, if a brand’s key objective is to educate the masses at all levels about a new product launch that is affordable for their pockets, then it would make sense for them to tap into ATL (above the line ) and spend more money on it.
Whereas, if the brand’s primary goal is to educate teens about a new app that lets them do all of their favorite things in one place, then it would make more sense for them to go digital and spend some money. money accordingly.
Ipsita Chatterjee, Head of Innovation, Development and Brand Strategy, Lotus Herbals added: “Moving to D2C through digital channels gives access to unexplored and previously inaccessible markets without trying to invest colossal spending for ATL (above the line). Additionally, brands often leverage real-world data with digital tools that help them better understand the desired performance of a product before launch. “
Today’s consumers value brand transparency, honest efforts to attract customers, and a “easy” shopping experience. In addition, consumers are more inclined to see the value of the product based on genuine communication with a growing aversion to unrealistic advertising. Thus, the D2C digital approach helps brands meet these expectations and makes relationships stronger, wiser and full of empathy in real time.
“Plus, with the success of brick and mortar retail, brand discovery is made digital easier as brands are constantly getting detailed data rather than relying on limited information from vendors or suppliers. associates.
D2C, with a digital-centric approach, is no longer limited to niche brand offerings, but will become a powerful selling medium due to its stability in the face of disruption due to digital infrastructure and chain value. internal procurement. As a result, brands are allocating more budgets to digital media, ”he adds.
Bidisha Nagraj, vice president of global marketing at Schneider Electric, explained, “The keywords that should stand out when looking at digital spend are: Personalization: how nuanced can you get your message; Optimization: Keeping a close focus on return on investment will help ensure that every rupee is used; Adding to TOF (Top of Funnel): At the end of the day, business gains take over – leads and quality play an important role. “
Here Tanuja Rai Pradhan, Manager – Consumer Insights Marketing, Vodafone Idea, added, “Many factors decide it. From the product category itself, your target audience demographics, current brand stage, and layered marketing goal are described accordingly. There is a need to manifest the integration of online and offline media even when budgeting. “
Chatterjee added that digital media also improves speed, efficiency, data-driven learning and helps gauge success or failure with a robust mechanism for, he instinctively answers the question of “if it works or no “more quickly.
Sriraman Padmanabhan, Vice President – Marketing, Nissan Motor Corporation shed some light by saying: “The following drives us to invest more in digital than before: the ease of measuring the advertising rupee; Ability to measure the feelings of customers; Communautary development ; brand building with engaging stories.
He added: “The ability of digital medium to create a unique multiplier effect – so the return on investment is even better when co-aligned with ATL spending (TV or print).”
Pradhan said: “But the fact remains that the world has moved into this ‘instant age’ of the Internet and therefore digital offers broader options for instant connection to consumers. Digital therefore seems to be gaining shares in global marketing budgets. You have to be there where you are the consumers. “