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. Rajat Abbi, vice-president global marketing and chief marketing officer, Schneider Electric, 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?
Launching a brand in today’s digital era differs significantly from traditional methods via TV, radio, and print. While they did have a lasting imprint in the minds of the audience, their limited interactivity makes it difficult to understand the audience’s perception about the brand. However, today’s digital landscape offers a plethora of opportunities to brands. Leveraging social media, targeted online ads, and influencer marketing, brands can expand the communication globally with substantially higher reach, fostering a two-way conversation with customers while building brand loyalty from the start. However, it also comes with its set of challenges. Amid fierce competition, establishing a robust and differentiated digital presence is essential to cut through the digital clutter while maintaining consistent audience engagement.
What are the recent best marketing or advertising campaigns you have seen and why?
There are many-many interesting marketing campaigns that have been launched in last few months. It is quite interesting to see the creativity quotient being taken to a completely new trajectory by brands, each reflecting a thorough understanding of its audience and demonstrating a lasting commitment to the brand ethos. These campaigns have constantly focused on celebrating moments of joy, love, and togetherness, often revolving around the themes of tradition, heritage, and modernity.
Which brand in the last year has made the best use of digital and how?
Very difficult to pick just 1 brand that has made best use of digital as now digital marketing has become the backbone of any marketing strategy. Some of my favorite brands like Mercedes Benz, Apple etc. have been doing some fantastic work around leveraging cutting edge digital tools to engage with customers throughout the customer journey.
In a post-Covid world, what are the dos and don’ts of digital marketing?
Digital marketing has rapidly evolved amidst and also post pandemic, so much so that it has now become an inseparable part of the brands’ marketing mix, irrespective of the size or scale. However, the key is to get it right, which makes all the difference in how the organization is perceived and the way reputations are built and maintained.
DOs:
- Demonstrate empathy: Consumers have become more and more discerning during and post-COVID. They prefer brands that resonate with human emotions and are empathetic towards causes such as health, climate change, environment, gender equality and human rights. Hence it is important for brands to show empathy through their meaningful content and messaging that is driven by empathy.
- Prioritize existing customers: While companies try to reach out to new customer bases via digital marketing, retaining loyal customers is equally important. This assumes more significance in case of B2B companies where existing customers account for a greater chunk of the business. Companies therefore need to target them with campaigns that address their evolving needs.
- Be data-driven: Organizations need to use data and digital analytics in a big way to constantly analyze marketing performance, which will help identify what’s working and what needs tweaking. This is extremely critical for companies to stay ahead of the curve.
- Stay updated on trends: We have witnessed how marketing trends have rapidly evolved post the pandemic, and there is an audience for each form of content across digital media. Further with the advent of AI, consumer behavior may significantly be different six months down the line to what it is currently. It thus becomes imperative to tailor the marketing strategy by being abreast of trends, learning from it and use the right strategies for the right target audience.
DON’Ts:
- Be insensitive: Brands cannot afford to be insensitive to the causes that their target audience resonates with, because it can lead to significant reputational damage and multiply marketing costs.
- Spread misinformation: Authencity is extremely critical. In the age of AI and deepfakes, any AI-generated content put out by a brand in public domain can spiral a chain of misinformation. Hence social media managers should ensure that the content being put out does not spread fear, rumors or create controversy.
- Neglect competitor & market analysis: Brands that continuously want to improve their marketing, need to be in watch out for key market and competitive trends. The only key to success is to continuously learn and sometimes unlearn to think creatively and in a differentiated way to solve customer problems
Can you recall a recent instance of a poorly executed advertising campaign and explain why it fell short?
I have high respect for all marketeers and advertisers. According to me No Campaign is good or bad, it is the perspective that matters. The key to a good advertising campaign is to be ethical, authentic, differentiated, and simple.