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Gone are the days when the chief marketing officer (CMO)’s sole focus was market research, advertising, or brand management. The role of the CMO has expanded significantly with the changing times, and the challenges have also increased.
Marketing is so dynamic that every day there are many challenges that marketers have to stay ahead of. Devising integrated media communications, investing in trendy moments, dealing with crises, managing agency relationships, and more.
Sell the same product for Bharat and India
According to Ajay Singh Parihar, Head of Marketing for Healthcare OTC at Dabur India, marketing is a challenge, especially when there is a need to balance selling the same product to Bharat and India (rural and urban) at the same time. More dynamic than ever.
“Add to that the media choices consumers have today that clearly focus on personalization every time they interact with a business.Healthcare used to be a stable set, but in recent years It’s also dynamic, with different expectations, different times,” he added.
Additionally, Parihar said Dabur continually reviews its media and marketing mix to meet changing consumer taste requirements, with different brands catering for different routes.
“Hajmola, for example, has successfully reached young urban consumers by launching variants such as Chatcola and Limcola. Similarly, in the case of Honitus, in addition to many clued ads, the brand has launched another variation to suit local tastes and serve the needs of the growing diabetic TG,” he said. added.
Anxiety about missing important trends
Maruti Suzuki’s senior executive director of marketing and sales, Shashank Srivastava, said: Among other things, such as technology space and consumer selection criteria. “
The only way to overcome this is to become consumer paranoid, track consumers closely through feedback mechanisms, discussions and interactions, and keep an eye out for relevant changes, Srivastava added. I was.
Achieving marketing goals within a given investment is always a challenge
Anita Nayyar, Patanjali Ayurved’s COO of Media, Branding and Communications, who also supports marketing, said marketing is a key function in building a brand for an audience with the ultimate goal of conversion/sales. I think it’s considered
“Given changing market conditions and ever-dynamic communication platforms, achieving marketing goals within a given investment remains a constant challenge. It is best to see these difficult situations as opportunities and devise solutions in the same way.It will not only help you navigate the market situation but also benefit your brand,” Nayyar added. .
Clear attribution remains a challenge for marketers
Swati Rathi, Chief Marketing Officer of Godrej Appliances, said the appliance industry is a very challenging field, with long product lifespans, multiple influencers and decision makers, and a mix of technology, features, services, brands, He pointed out that factors such as budget were in control. Purchases and multiple touchpoints, both online and offline, greatly contribute to decision making.
“Although the majority of sales are generated in offline multi-brand stores, it is multi-brand platforms that generate the largest sales in the online space as well. and (b) broad buying journeys in terms of both time and space, clear attribution continues to be a challenge for marketers: using multiple data sources, testing hypotheses in pilots , online A/B testing, proactively collecting feedback, and in-depth research into customer and user behavior are just some of the ongoing practices we follow to meet challenges,” said Rathi. added.
Staying Ahead of the Competition Can Cause Anxiety
Poulomi Roy, Chief Marketing Officer at RSH Global, believes that the ever-changing digital landscape, crafting effective campaign strategies to keep up with the latest trends, and the challenge of staying ahead of the competition can cause anxiety. I believe there is
“Brands can also be affected when they fail to meet customer expectations and demands. We are constantly trying to improve our reach and awareness through our efforts – we strategize our business plan based on the acceptance and availability of our products in various business channels,” Roy added.
Hyper-fragmentation of media and constant emergence of new platforms
Platinum Guild International (PGI) – India Consumer Marketing Director Sujala Martis said marketing today is more complex than ever and the pace of change itself is generally rapid, making it difficult to stay ahead of change. stressed as essential. Martis said Covid-19 has honed marketers’ skills in agility, change of direction and flexibility, a skill set that’s just trending given the volatility around them.
“When it comes to consumers, there are four key issues that come to mind based on what has been getting a lot of attention lately. More so for brands enjoying themselves.The confusion of younger audiences has been magnified into a full onslaught and bombardment of content. Therefore, it’s important to step through the noise to grab the attention of your audience.In this environment, brands need to find the means to tell their stories with authenticity. is a value that resonates with.At PGI, we are focused on authenticity and staying true to our brand value system. You can get a share,” Martis said.
“Second, with so many products proliferating within the same segment, the success of D2C brands is essential to maintaining a clear differentiation with consumers in this new age. The need to differentiate, the need to express, the need to express individuality, and the need to create social differentiation are prerequisites. Brands should leverage technology to drive discoverability and immersive exploration, shoppable content AR, AI, etc. Do so,” Martis said.
She added that another boom we see today is influencer marketing, which needs to be changed on a massive scale so that consumers can see it through “paid” content and not look like fake endorsements. I said yes. Trust in integrations is a must here, and these integrations, done right, can accelerate the consumer’s journey from engagement to purchase while addressing barriers to purchase.
“In today’s marketing, the temptation to focus too much on the funnel sub-metrics in the quest for efficiency is to win the brand. A healthy affinity and love for brands is created in the sea. Younger audiences connect with brands with strong perspectives and purpose, and these brands can mobilize a strong sense of community and advocacy. ” added Martis.
She concludes by saying that the brands that manage to navigate this complex and dynamic maze will find themselves in a win-win situation.
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