Archive: December 30, 2022

What changes can performance marketing agencies bring in for better ROI

Krishal Mehta VP-Media BC Web Wise

A significant share of Digital marketing is now focusing on targeted-performance marketing: personalized messages, direct messages, Buy Now, and form fills with partial or zero branding support. The brands now think and feel everyone knows my brand is the best, with limited awareness or low awareness due to cluttered ad space. Brands want to drive ROI through sales, leads, walk-ins, or footfalls.

Marketers miss the entire consumer journey. The offline brand manager focuses on offline media channels, similar to the Digital brand manager concentrating on users’ digital journey. They need to take advantage of the consumers’ holistic journey.

Source: Red Crow Marketing

According to experts, the average person sees between 4,000 to 10,000 ads daily.

Just think about it for a second.

Every other post on social media is a sponsored ad, paid partnership, or subtle brand integration. A busy street will leave you exposed to dozens of billboards, shopping windows or ads on a wheel (car/bus branding)

Few categories focus on performance ads only. For example, automobile, Insurance, Banking, and now FMCG are moving in the same segment; everyone is now doing push ads vs pull ads or content-centric ads.

It leads to an unclear understanding of performance marketing campaigns. Just promoting sales-driven or offer-driven communication does not work anymore. Further, it worsens Upper and middle-funnel spending across media channels and affects the bottom conversion funnel. Today we are talking to SMART CONSUMER, who is curious, at the same time, meticulous and not necessarily a compulsive buyer on the other side; they research and are very well informed about the product or service.

I believe Data-driven plus “Performance Focused Branding” with disciplined will give marketers an edge when it comes to achieving TOFU (Top of Funnel) and balancing it with BOFU (Bottom of the funnel).

Existing models, cross-channel MROI or Marketing-Mix Modelling (MMM) or Multi-touch attribution (MTA) are more focused on late-funnel stages, not granular in terms of data, focused on past data and, more importantly, no real-time support for optimization.

Performance Branding with massive Data clubbed with machine learning, and deep tech enables brands to work on real-time optimization. In this, the first and most crucial stage is to track ever-changing consumer preference and map it correctly with Customer-Data-Platform (CDP). The CDP will incorporate data from internal, external, and third parties in alignment with GDPR policies.

The best example is Billy Beane (Former General Manager), who deployed data and analytics to field a competitive baseball team on a low budget in the movie Money Ball.

We’ve already implemented and are working closely with research agencies to identify CDP for categories like luggage, personal care, insurance, and automobile, and we’ve started deploying CDP with a single view platform which provides today’s marketers to effectively take the decision in real time with right-data touch points.

The Performance Branding Model

Earlier brands used to drive campaigns with set objectives, and even now, many brands have different branding and performance team. Just imagine a bike whose front and back are moving in a different direction. The brand won’t be able to reach its targeted destination.

The brand Building Team focuses on Awareness, Reach, Views, CTR, VTR etc., plus many other metrics. Performance Team focuses on sales, leads, and visits as per the brand objective. Even new D2C brands have suddenly taken up direct sales routes with only performance campaigns.

The model which we follow comprises four steps:

1. Crafting a Brand Strategy: Comprises multiple things, a few of which include competitive mapping, pain points, customer personas, unique value proposition, and brand DNA. It is more to identify the right audience which can be married to the brand.

2. Implementing System: Basis the brand DNA and audience behaviour, we need to understand the communication which will drive growth. This communication is not only copy but visual elements, classifying where the brand wants to be in the next three to five years.

3. Long & Short:

The long strategy here talks about owning a particular communication or channel example: Dove’s Real Beauty Campaign or Amul’s out-of-home strategy on the current issue. The short strategy will be deploying a small burst of performance campaign based on USP or functional benefits example: Dove’s ¼ moisturizing cream or skin test or half face test.

4. Learn & Repeat:

The above three steps deployed correctly with automation CDP with help the system to learn and provide trends/media insights which will push the performance to the next level. It’s an ever-growing loop of learning and repeating with the right data insights, which causes the brand towards long-term success.

The above four steps provide an essential structure for Performance Branding, and many things can be layered further in the process to make it more robust and derive better MROI (Marketing ROI). Additionally, layering with attribution modelling helps in understanding the role of each channel and its usage.

Be Aware, Be safe with these top Cyber Security Organisations

It is important to be aware of the potential threats to your online security and to take steps to protect yourself and your sensitive information. This can include using strong passwords, keeping your software and devices up to date, and being cautious when clicking on links or downloading attachments.

There are many organizations that focus on cybersecurity and offer resources and tools to help individuals and businesses protect themselves from cyber threats. Here we have listed some of the organizations which can help us to remain cyber-safe in this world of threats

CyberPeace Foundation

CyberPeace Foundation is the world’s first non-profit civil society organization and thinks tank of cyber and policy experts with the vision of pioneering CyberPeace initiatives to build collective resilience against cybercrimes & global threats of cyber warfare. As a pioneer in CyberPeace advocacy, CPF is on a mission to promote “Technology for Good” beyond borders.

CyberPeace Foundation is involved in Policy Advocacy, Research, and Training related to all aspects of cyberspace and CyberSecurity. Key areas of CyberPeace Foundation work are in Technology Governance, Policy Review, Advocacy, Capacity and Capability creation, and building through partnerships with various government organizations, academic institutions, and civil society entities.

CyberVeer Foundation

The CyberVeer Foundation (Cyber Crime NGO) aims at creating a cyber-secure nation where each citizen is safeguarded against cybercrimes. We believe that security and welfare in today’s times need to be as much online as offline. The foundation aims to achieve social welfare using information technology. Through it, we aim to make all citizens cyber warriors who can successfully deal with the challenges that come with the advancement in technology. The Cyber Crime NGO CyberVeer Foundation is a comprehensive and rounded approach to the ever-evolving cyber world. It would not only help safeguard you from cybercrime but will also help you in using technology comprehensively for your benefit.

Cyber Safe India Alliance

Cyber Safe India is a government initiative launched by the Ministry of Home Affairs in India to promote cyber security and prevent cyber threats. The initiative aims to create awareness about cyber security among the general public and to encourage the adoption of safe and secure practices online. CSIA’s mission is also to enhance the online safety and security of business communities, by helping to deliver resources and expertise from the private sector to support both domestic and international law enforcement agencies and their governments, in their task of reducing harm from cyber & high-tech crimes.

CyberPeace Institute

The CyberPeace Institute is an independent and neutral nongovernmental organization whose mission is to ensure the rights of people to security, dignity, and equity in cyberspace. The Institute works in close collaboration with relevant partners to reduce the harms of cyberattacks on people’s lives worldwide. By analyzing cyberattacks, the Institute exposes their societal impact, how international laws and norms are being violated, and advances responsible behavior to enforce cyber peace.

CyberNGO

CyberNGO is an organization with the aim of helping Global Cyber Welfare by spreading Cyber Awareness and helping Cyber Crime victims to get Cyber Justice. CyberNGO’s volunteers help Cyber Victims in getting the right law-enforcement aid by utilizing and suggesting based on their years of work experience with various law agencies. The concept of CyberNGO was developed based on the Digital Movement ongoing in our Nation. While the world is advancing to a Digital era it has become a necessity to be aware of the fraud and Crimes which are carried out by taking advantage of it. A person has to be aware of Cyber Threats to avoid becoming a victim of it.

Furnitech Launches ‘Best Of Waste (Bow)’ Initiative

Furnitech, India’s leading manufacturer of upholstered furniture has been constantly improving its carbon footprint and is using eco-friendly and sustainable products to make a more viable impact on the environment. To attain this the company has now launched the Best of Waste (BOW) initiative that makes use of waste materials to the best of its advantage by converting them into amazing décor products to grace your homes. All the proceeds from this sale of these products will be given to the Furnitech Foundation which will use it for a charitable cause.

“We have been deeply conscious of the environment and have been constantly focusing on ensuring resource optimization and achieving zero wastage. The Best of Waste concept is a unique way to conserve resources and create eclectic home décor products from household waste materials. The collection is designed using sustainable elements. From wood to fabric, elements used in the making of the product have been consciously selected”, said Jinal Shah, Founder & Principal Designer, of Furnitech Seating Systems Pvt. Ltd.

Furnitech is an amalgamation of Premium Upholstery Products along with being a forerunner of advanced usage of technology to innovate and integrate technological solutions to meet global consumer needs. It is the only Indian company with Cedex certification and is a proud member of MSME India, Round Table, AFMT & AFMI India. With 24 years of expertise, cutting-edge technology including CRM, IVR software, automated manufacturing, an evolved Supply chain system, and High warranted products, Furnitech has created a world-class showcase to cater to Indian homes and establishments.

Aditya Birla World Academy and Aditya Birla Education Academy || Year-End Quote

Prodipta Hore, Director, Aditya Birla Education Academy

“We saw, first hand, in the last two years, how important it is to keep India’s educators up to date on new tools and techniques to achieve the best learning outcomes with their students. While schools have resumed physically, the ongoing COVID-19 situation indicates that we cannot be complacent. It is imperative to continue India’s push to teach the teachers, to ensure they are fully prepared for any eventuality. This push is not only necessary for teachers to impart education in newer and more effective ways, but also for their own professional growth into seasoned and wise leaders.
In 2023, we will continue to see teacher education being prioritised by the government, as well as educational institutions. The sector is being revolutionised globally, and India needs to leverage this to uplift our quality of education further. To be a global leader in all spheres, it is vital for our country to ensure our educators are well-equipped with all the knowledge and expertise necessary to develop students into able leaders of our future.”

-By Radhika Sinha, Principal, Aditya Birla World Academy

“As students came back to school in 2022, schools across witnessed the emergence of new challenges. While, earlier, they were struggling to cope with online learning and isolation from their social groups on resumption of physical classes, many felt the pressure of going back to a school schedule they were no longer used to. For some, online teaching learning had posed its own challenges thereby creating learning gaps that compounded the issue of getting ‘back to school’. It is the responsibility of all educators to continue to support them and guide them through the challenges they have been facing, and help them optimise their potential.

On the other hand, the two years gone by have taught us lessons in resilience and gratitude and whatever the challenges in the future, we would all be in a better position to handle change. There had been a significant paradigm shift in the nature of education. In keeping the best of both worlds, teachers will use e-games as well as other new pedagogical practices to engage students thereby making their learning contemporary and hence more meaningful. 2023 will take us onto new journeys and we are all geared up to take the strides towards excellence.”

Deendayal Port Authority crossed the landmark of handling 100 MMT cargo traffic

Deendayal Port Authority, Kandla has crossed the landmark of handling 100 MMT cargo traffic in the FY 2022-23, thereby becoming the first Major Port to cross the milestone in only 3 Quarters of a fiscal year with a growth of 6.96% over the corresponding period of the last fiscal. Incidentally, DPA achieved the milestone on 11-01-2022 in the last FY.

Shri S.K. Mehta, IFS, Chairman &ShriNandeeshShukla, IRTS, Dy. Chairman congratulated team DPA along with Employees, Workers, Trade Unions, Port Users & Stakeholders for their continuous support towards making DPA a MEGA PORT with State-of-the-Art handling facilities.

Year-End Real Estate Review and Outlook for 2023– Mr. Pritam Chivukula,

By – Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Treasurer, CREDAI-MCHI

Sector performance in 2022

The year 2022 started on a good note for the industry as the homebuyers took advantage of the relatively low home loan rates and closed their property deals. The low-interest rates, therefore, set a path for the property owners and developers. As the impact of the pandemic started receding, new launches were back in the market as the industry saw expanding interest in bigger homes with the predominant work-from-home and hybrid work culture, wherein the units with additional room and decks arose as the best-performing classification.

Post the pandemic, the industry started growing in terms of robust sales numbers along with new improved launches as the homebuyers were back visiting the properties physically for inquiries. The need for possessing a home, and low home loan costs alongside different payment plans from developers helped the property purchases throughout the year record the highest property sales. People who generally opted for rental as a choice began searching for a getaway from a deep-rooted rental web and understood the significance of possessing a home. These elements assist in boosting the sentiments of the homebuyers and were the key to driving the overall real estate demand.

Outlook for 2023

Various supply and demand patterns assessed over the last decade have already started putting upward pressure on residential property prices. Therefore, we will continue to urge the Government to extend further relaxations and beneficial incentives that will only help better the sector in 2023. Incentives like lower stamp duty and lesser premiums have benefitted homebuyers in the past as well. Residential sales momentum is expected to continue in 2023 as prospective homebuyers’ preferences for bigger homes, better amenities and attractive pricing will keep them interested to seal the deals. The reputed and trusted developers shall be witnessing comparatively better sales in the mid-income & affordable housing segments and shall continue to dominate in 2023 as well.