The pandemic has brought about notable shifts across industries, and the case has been no different for marketing. Today, digital marketing has become a crucial aspect in order to acquire new customers and retain existing ones. In our weekly BrandWagon Ad Talk series, industry experts highlight what has changed over the past two years and more importantly, are these changes here to stay. Prasanth Naidu, Chief Marketing Officer at Moneyview, talks to BrandWagon Online about the dos and don’ts of digital marketing, best marketing campaigns, and more.
What is the difference between launching a brand in today’s digital era versus earlier?
In the past, brands relied on traditional methods of marketing such as television, radio, and print advertisements, which were slower to adapt to changing market conditions. Digital platforms now allow real-time iterations of marketing strategies based on data and consumer response, fostering stronger two-way communication and reinforcing brand loyalty.
In addition, digital marketing is more cost-effective than any of the traditional forms of marketing, making it all the more democratic that every company can now own and change the category against established companies without having to pay such a huge cost in comparison to traditional advertisements. Channels like SEO, email marketing, and influencer marketing, combined with data analytics, enable brands to customize messages for diverse audiences. While targeting can be enhanced using this approach, it can push companies to take some form of reactive reputation management because information spreads quickly over the Internet. The present-day gives power to a brand to act faster, engage with consumers, and develop a strategy unlike anything before.
What are the recent best marketing or advertising campaigns you have seen and why?
Over the past year, OTT platforms have made great ads / marketing campaigns including Money heist, Farzi, Barbie, Stranger Things etc. This created an enormous level of chatter and engaged audiences across multi-platforms, underlining the capacity through which films can exploit digital marketing to create a broad-based cultural impact.
Which brand in the last year has made the best use of digital and how?
Barbie has positioned itself as a strong contender in the realm of digital marketing, especially concerning the promotional campaign surrounding the blockbuster film launch of 2023. The campaign effectively utilized social media to create the cultural phenomenon known as “Barbie mania.” This incorporated a wave of creative stunts and collaborations and visually compelling graphics that took over social media feeds and turned the world pink. These included an Airbnb listing for “Barbie’s Dream House” and, of course, “Barbenheimer”- the viral social media trend pointing to the simultaneous releases of Barbie and Oppenheimer.
Similarly, Dove’s #TurnYourBack campaign on body positivity was impactful. By encouraging users to reject filters promoting unrealistic beauty standards, Dove sparked meaningful conversations and upheld its inclusive brand ethos. It made a resounding impact on socially conscious consumers, as it would have allowed the used generational content to pour in from the different platforms to broaden its reach for the cause. Such action naturally allowed Dove to uphold its brand beliefs that spoke of inclusiveness while giving a channel for a wider engagement in meaningful conversations about beauty standards in the digital age.
In a post-Covid world, what are the dos and don’ts of digital marketing?
Digital marketing strategies must evolve to address the new consumer landscape and behaviors in a post-COVID world. Here are the essential dos and don’ts for effective digital marketing in this context:
Dos of Digital Marketing:
Strengthen Customer Relationships: Prioritize existing customers by nurturing loyalty and engagement.
Embrace Multi-Channel Marketing: Use online platforms such as social media, email, and websites to reach consumers where they may be the most active. This multi-channel approach maintains engagement and visibility.
Employ Data Analytics: Use analytics to understand customer behavior and preferences in-depth. Tailoring your marketing strategies with data-based insights leads to a far more effective campaign.
Utilize Video Content: Given the exponential rise in video consumption, brands need to create exciting videos that various audiences can engage with, augmenting brand storytelling and emotion.
Communicate with Empathy: Consumers should come first. This means enabling communication with some knowledge of consumer challenges. Empirical communication shows the knack of persuasion and ultimately ensures that one’s brand will be appreciated.
Don’ts of Digital Marketing:
Avoid Aggressive Sales Tactics: Hard selling in a sensitive situation can put off many good potential customers. The value should be offered through informative engagement and genuine content.
Do not Overlook Mobile Optimization: All digital assets are mobile responsive since many consumers still shop and gather all their information via their mobile devices.
Avoid Ignoring Changing Consumer Sentiments: Stay abreast of evolving consumer priorities and adjust your messaging accordingly.
Do not stick to Outdated Strategies: Solely relying upon pre-COVID marketing might not yield results right now. Be willing to always adjust your strategies based on new consumer behavior.
Avoid Neglecting the Importance of Social Media: Social media remains one of the crucial channels for building brand engagement and reputation management. Underestimating them means losing grip over the basis of connecting with the consumers.
One recent bad case of advertising you have seen, and why
To be very honest, there are no bad campaigns – only learnings. It is amazing how far we have come on marketing and campaigns that we probably now use the virality of a brands’ campaign and ride on the wave just like the recent Zepto, Shaadi.com hoardings and Zomato’s ad when Swiggy went public without having to sign NDA nor upset the competitors.