Insights from CMO Charcha 2022- Festive Blueprint for Brands

Days like these are a blessing in disguise. It was such an honour to host a stellar panel of experts yesterday at the ADGULLY CMO Charcha on the festive blueprint for brands.

Sharing some key takeaways from my session as well as some others. Hope all of you will find this useful.

<< Some Key Takeaways >>

If you are a strong purpose-driven brand, you don’t need to keep changing your narrative. So, if you have not discovered your ‘why’ yet, I guess your time is now. The age of purpose driven brands is already here. IKEA being a great example.

At a time, when everybody is talking fast commerce, there is absolute merit in slowing things down, especially in the case of luxury products. Welcome to Slow Commerce with Tata CLiQ Luxury

Festive or not, the whole point is to stay relevant throughout the year, especially since Titan Eyeplus is in a round the year product category. India is a huge market and add to that 1 in 3 Indians have eyesight challenges, so we are clear eye that we have a long way to go in terms of reach. Increased focus on health & wellness is also bringing a lot more relevance and going to drive our business.

Loan requirements of consumers have changed. It is more and more driven around the needs and not necessarily the wants. KreditBee

What has changed or not changed?

Expectations from a digital product or service is changing rapidly as every company is raising the bar. Whether offline or online, the need of the hour going forward is to create a superior personalised experience.  

Consumer is constantly seeking value for money. Keep it easy, inspirational and affordable. Consumers are more and more mindful about every purchase. Mindful living is here.

The Love for home, food and kids has not changed and is becoming stronger and the queues to Ikea are becoming longer.

Compliance and Regulations have increased and it is going to be more rigid as we go, to create a secure digital environment. Don’t just be ready with Plan A, keep your Plan B and Plan C ready too. VUCA is real & now.

Know and Listen to your consumer. Involve them and co-create content with real people. Yes, user generated content is becoming a powerful tool.

The age of creative defining the content is fading away. Now, Content is deciding the creative. Content will define the brand equity going forward. But remember to get your purpose right.

Content in the form of Videos are the way to go. A great majority of marketers plan to increase efforts in video content & consumers believe in visual testimonials more than written testimonials.

Reviews and ratings are becoming more and more important. 75% of consumers are likely to search for reviews and testimonials before making a purchase.

Marketers spend too much time creating content; not enough distributing it. It is time we maximise the true potential of the content and the 80/20 ratio shifts from creation/distribution to distribution/creation.

Meta. Meta who? Can someone tell us what is happening in the Metaverse? We see a huge traffic jam with no traffic cops around.

Simply put, the Mantra of today and the future. - Learn. Implement. Share. Unlearn. Repeat.

Thank you Anna Ohlin for giving us a sneak peek into the IKEA World, Mohua D., for sharing with us how life is like, moving from a fast paced life at Myntra to Slow Commerce, Ishan Bose for giving us the assurance that Yes, we all can get a loan and Maneesh Krishnamurthy, for giving sight, insight and some foresight.

And Shreya Sachdev, we missed you. The Panelists have come to a conclusion that we are ok with a free pair of Puma coming our way. Get well soon. :-)

Lastly, thank you Bijoya A Ghosh Sudhir Nair Ganapathy Viswanathan Yamini Mishra for the opportunity given to The Advertising Club Bangalore to partner with this event.