Pandemic has brought technological changes in every sector thereby building new habits. Traditional formats of entertainment has been replaced by the over-the-top (OTT) platforms such as Netflix and Amazon prime, besides the rise of e-commerce platforms such as Amazon and Flipkart. In all this marketing too has evolved. “The definition of love in this era has changed from long term relationship to situationship and this is same for the brand-consumer relation,” Hemant Malik, divisional chief executive, ITC’s foods business said, adding, “It is a great time for marketers. We are all enabled because we are able to make decisions with utmost clarity.”
The constant changes has also ensured that the dynamic between brands and agencies too have evolved. “Brands now focus on both short term and long term periods and it is agencies that need to understand the brand and their requirements”, stated Prabha Narasimhan, MD and CEO, Colgate-Palmolive India.
Not to mention that in the wake to maximise the return- on-investment and optimise cost, brands, at times, show resistance in spending money while pressurising agency partners to cut cost. As a result, creativity is compromised. “Single purpose of the brand cannot be making money, the idea of having a larger purpose is very important,” Narasimhan stated.
Additionally, with changing times, the role and reach of agencies have also changed. Nowadays, it is not only creative agencies which creatie films but people involved in content creation also take part. “The notion that creative ad films have to win has to die now since there are numerous creative people out there who either create memes or into content creation, Rohit Kapoor, chief executive officer, Swiggy concluded.
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