Expert Opinion: Decoding festive media blueprint to drive efficiency for campaigns – Social Samosa
Performance advertising and marketing performs an vital function to drive commerce and scalability for manufacturers as they give the impression of being in the direction of the festive season. We converse with the consultants to decode the festive media blueprint to drive efficiency for campaigns.
As we navigate by way of the festive season, media avenues turn into all of the extra vital to drive demand and consumption. In a bid to decode the festive advertising and marketing media blueprint to drive efficiency, attain, and engagement, Social Samosa speaks with Vishal Chinchankar, CEO, Madison Digital & Madison Ultra, Sujata Dwibedy, Group Trading Director, Amplifi India, dentsu, Jai Lala, CEO, Zenith, Sam Thomas, Sr. VP – Digital, OMD, as we deep-dive into the subject material.
AdEx Trends 2021
The onset of festive season 2021 witnessed an emergence of newer classes within the A & M Industry. As the business showcases promise after a difficult interval, AdEx appears to be higher positioned, too. The consultants echoed an identical thought. Dwibedy highlights, “There has been a 20-25% growth in sales which was pent up since months.” The yr 2021 will see classes like e-commerce, fintech, and EdTech, amongst others.
On an identical notice, Chinchankar concedes that the AdEx seems optimistic with a heated market. He provides, “Demand is high. Ed-tech, health-tech, gaming, and bitcoin are steaming up.”
Pointing in the direction of an sudden development, Lala explains that with the IPL and World Cup, the income generated after a lull is superb and the business has actually picked up within the festive season 2021. “Luxury-based categories such as hotels, travel, etc are seeing a comeback”, he provides.
Thomas surmises that with the pent-up feelings throughout the pandemic, there’s a rise in revenge purchasing and revenge journey. He additionally shares that this quarter has been bullish and may showcase 30-35% development.
Evolving Media Channels & Consumption Patterns
Media channels and consumption patterns have modified with digital acceleration in 2020. The consultants spotlight that video on social media has showcased the utmost increment.
Dwibedy explains, “Video is not just being used for search but also the discovery of products.” She factors that amongst the evolving media channels OTT and streaming have seen an increase with audio streaming changing into vital and related TV exhibiting a development. “Vernacular continues to hold prominence”, she provides.
Echoing an identical viewpoint, Thomas shares that aside from digital, tv has witnessed a major development put up a short hiatus.
Lala expresses that Print has bounced again throughout the festive season. “However, other mediums continue to be challenged such as theatres and OOH in this period”, he highlights.
Speaking in regards to the evolving client consumption patterns, Chinchankar factors that one of many greatest developments at the moment is the rise of D2C manufacturers which have proven a major spike within the present season. “Marketers need to be cognizant of the category”, he says.
With the evolving media channels, aside from being current throughout a number of touchpoints, the shoppers additionally confirmed a outstanding affinity in the direction of e-commerce channels and marketplaces, concede the consultants.
As we transfer previous the second wave, the consultants level in the direction of brighter hues and higher instances. Speaking about prevailing media developments, Thomas places forth that whereas the media development of video commerce will proceed, the following degree could be for the manufacturers to drive the video commerce – how simply manufacturers can replicate the real-time purchasing and make it an asset.
Some of the opposite insights encapsulated by the consultants embody:
From a efficiency perspective, D2C manufacturers will proceed to developThere will probably be increment in influencer-led commerce initiativesOTT media consumption to proceed witnessing a spike The optimism capped with the cautiousness in shopping for habits of the shoppers.
Media Avenues To Drive Performance
To drive ROI-centric efficiency, consultants counsel that it turns into essential to know your prospects first, adopted by the segregation of the target market. This can assist the planners to realize a win-win state of affairs for each, entrepreneurs and shoppers.
Classifying the patron cohorts, Thomas places forth, “One consumer-bucket is bargain-hunters, the second is category-hunters, and the last cohort is brand-hunters.” Each of the shoppers might be segregated as per the class they belong to and deployed with supporting advertising and marketing techniques to drive conversions as per the advertising and marketing funnel, he says.
Taking the full-funnel advertising and marketing technique a step additional, Lala explains that the top-of-the-funnel is extra in regards to the mass bombing of the model communication, the center funnel includes influencers for consideration, and the bottom-funnel ought to deal with commerce information, as a part of the media technique for the manufacturers. “Understand the stage of the consumer as per the funnel”, he provides.
On the opposite, Chinchankar says, “Performance marketing is a subset of the top of the funnel. In full-funnel marketing, the rest of the stages are manageable.” Further, the remaining a part of the underside of the funnel media channels have to be seen in an built-in method, he quips.
Also learn: Expert Opinion: Building Brand Legacy by way of Festive Marketing
Attribution Model Plans For Brands
As we transfer forward with a number of touchpoints, one other important query that arises is about the absolute best attribution fashions for media planning for entrepreneurs. To this, Chinchankar factors that the most important subject within the business is that there isn’t any single forex or metrics to observe with the obtainable media channels.
He explains that the one approach that manufacturers, nevertheless, can observe is to know the journey of the patron to ease the attribution of channels for the shoppers
With an enormous chunk of knowledge at disposal for the manufacturers and entrepreneurs, Lala concedes that whereas there’s a problem of knowledge syndication, it could additionally assist the manufacturers to realize the final mile attribution. “The new app-based brands are already doing that but we have a long way to go.”
To ease the method, he suggests making an attempt to get the assumption of the consumer whereas setting the expectation proper when it comes to the attribution and in addition provoke a multi-touchpoint attribution as a part of your technique. “The latter can vary from client to client”, he says.
Tips For Marketers
The consultants share that manufacturers at present, have accrued lots of information. Understanding their accrued information can itself assist drive scale and the enterprise end result that they wish to obtain. Thomas suggests, “One way to harness the data is looking into your search cookies and target basis that. This could be a good starting point to drive conversions.”
Lala urges manufacturers to begin early throughout the festive season. “Consumers are thinking fast. To be on the top-of-the-mind, start early when the festivities kickstart every year”, he says.
Chinchankar advises, “Don’t have a look at media in isolation. 1+1=3 as a result of once you faucet two platforms you additionally see an impression on the third one
Summarizing the dialogue, Dwibedy shares that it’s vital for the media channels to speak about the identical story and be married to one another in that sense. “It is also important to end well. Once the festivities are over, it’s important to look back – evaluate and re-evaluate so that you have the lessons for the coming year, as well”, she concludes.
The audio system shared their views on the Social Samosa Presents Festive Marketing Week 2021: Day 3.
Watch the total session right here:
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