Social Beat has got Arunima Singh on board as the executive vice president – growth in Mumbai. She will help the agency drive success with existing and new clients for the west region. Singh will work closely with the core team to drive growth and move closer towards the company’s vision of being India’s top independent digital agency by 2021.
Singh comes with more than 19 years of marketing experience, on both client and agency side. A media professional, she has a background in brand management, and marketing. Throughout her nearly two decade long career, Singh has held multiple positions, her last one being business director at Wonderman Thompson. Her journey also includes stints at AdFactors PR, L&K, Saatchi and Saatchi, and Mirum in the past. She brings with her experience in content management, SMM/SEO, website building and management, and business development.
Singh said, “Joining Social Beat, a young & agile agency, beautifully nurtured with a class apart culture and an apt environment where creativity is nurtured and nourished, is indeed a challenging platform for widening my portfolio in digital advertising. It is said that when a drop of waterfalls in the pool, it has no value, whereas if the same drop of waterfalls on a lotus leaf, it can shine like a pearl and a diamond. I am excited & looking forward to working with Social Beat and contributing to taking it to the next level with my team.”
She has worked on brands like Pidilite, Kalpataru, Godrej Group, Essar, KPCL, Parle, HCC, Lavasa, Magma Fincorp, Force Motors, Kotak Mahindra, HUL, Apollo Clinics, Rajiv Gandhi International Airport, Tata Housing, Intel, Piramal, Kellogg’s, HSBC,Colgate, and Flipkart during her career so far. She has also won multiple awards during her career.
Social Beat co-founder Vikas Chawla said, “We are ecstatic to have Arunima on board as an EVP in Mumbai. We look forward to working together towards realising our 10X vision to being the no.1 independent digital agency in India. With her immense experience in mainline and digital, she will be a great addition to the team and our journey.”
The ubiquitous term ‘marketing mix modelling’ has been around for decades and with good reason. This strategy allowed marketers to identify the best channels and marketing techniques to maximise product performance. But as the channels themselves change, new digital trends emerge and customers begin to evolve, how relevant is traditional marketing mix modelling? Do the factors for a brand’s success still solely rest upon product, price, place and promotion? And if so, how has each of these 4 P’s evolved in the digital age?
The changing face of marketing mix modelling
The concept of the 4 Ps was created at a time when data remained largely stable, technological advancements were slow and consumer habits were predictable. Today, in the age of digital disruption, each of these facets has undergone a wave of change. In this climate, traditional marketing mix models are simply not equipped to deliver a realistic marketing strategy and accurate channel-wise attribution.
This change is primarily because of the following features of the digital environment:
1. Advertising mediums do not exist in a vacuum
A typical consumer today is bombarded by more advertisements on more platforms than at any other time in history. They might be exposed to a brand while watching a video, while reading a blog, or while listening to music, to name just a few. Because of this, it can be close to impossible to evaluate the performance of each ad in isolation. Each instance of exposure has a cumulative effect on the buying decision of a consumer. Most marketing mix models are not equipped to handle a multi-touchpoint customer journey.
2. Technology and data is in a state of flux
Traditional marketing models are built on data extending from over one year. Marketers generally analyse long-term patterns of data to reach a conclusion on future trends. The digital age, however, does not afford the luxury of long-term analysis. Technology, platforms and algorithms can change within a matter of a few months, throwing even the most carefully crafted marketing mix model into disarray.
3. Speed and adaptability are critical
In a traditional marketing plan, platforms and budgets would be decided upon based on a marketing mix model, the plan would be executed and the learnings would be dissected later on. Today, however, digital marketing empowers marketers to completely overhaul their budget allocation and platform-wise strategies at the click of a button. A modern marketing strategy isn’t truly over until budgets are exhausted. Marketing mix models need to be adaptable and scalable in order to be successful.
How to build a digital-ready marketing mix model
Today’s changing market is completely different from what it was in the 1960s, which was when the concept of a marketing mix model was first introduced. Naturally, as a result, the traditional understanding of the 4 P’s needs to evolve to adapt to our current reality.
Reduced manufacturing costs, less expensive advertising channels and the rise of a thriving startup culture have lowered many of the entry barriers for new companies. As a result, the market is more competitive than ever before, with numerous similar products vying for the same customer. In this scenario, a brand’s product cannot sell based on a utilitarian guarantee alone. Customers now want to purchase a product that sells them an experience. They want a product that they believe will help them reach their ideal self, aligns with their values and sells them a lifestyle. Brands who capture this essence will ultimately capture the market.
2. Be present where your customers are
Previously, the concept of ‘Place’ in a marketing mix model referred to the selection of optimum distribution channels to reach a customer. These channels in the modern age, however, are not as clear cut as they once were. Customers divide their time between numerous platforms; watching videos, scrolling through social media, reading blogs or listening to podcasts. Additionally, they can also make a purchase decision at any time of the day and in any place, for instance, during their morning commute to work. The introduction of Whatsapp for Business has allowed brands to penetrate even further into a consumer’s routine. Because of this, the focus needs to shift from having a physical presence in an area where the target audience is present to simply being everywhere each member of the target audience is, virtual or otherwise.
3. Influence rather than promote
On the whole, customers today are a more cynical lot than customers from previous periods. They seek information on product ingredients, are more discerning of what they consume and are more aware of marketing strategies. Because of this, it is highly unlikely that a consumer will believe your product’s USPs at face value. Brands need to eschew a hard focus on promotion alone and instead supplement it with efforts to build credibility. Two tools have become indispensable for brands looking to do so: influencer marketing and content marketing. Influencer marketing builds awareness of a product using ‘influencers’ whom consumers already trust while content marketing helps brands inform and educate customers and develop long-term relationships with them.
4. Shift the focus away from price
Price is no longer the key differentiator it once was. This change can be attributed to two reasons:
(i) Improvements in technology and efficiency have allowed average prices of consumer products to hit an all-time low. Today’s customers need to pay less for a product than at any other period. As a result, most products are similarly priced and a consumer’s final purchase decision will rarely depend upon the price alone.
(ii) With customers seeking experience over utilitarianism, many are willing to pay a higher price for perceived quality. For instance, an eco-friendly sustainable brand might be priced higher than similar products, but customers will be willing to pay the higher price for what they believe is greater value.
How to ensure accuracy in modern marketing mix models
Ushering in the age of digital marketing might mean saying goodbye to traditional marketing models, but it opens up endless possibilities for marketers. The availability of granular details, real-time analytics and diverse platforms enables marketers to create more effective marketing strategies than ever before.
1. Create a shorter time frame
With rapid technological innovation, analyzing the impact of channels and strategies for a period longer than 6-12 months would be futile. Technology and ad formats from over a year ago might be irrelevant or non-existent today. Limit your analysis to just 6-12 months at the most – anything extending beyond that is ancient history. To ensure accuracy of the analysis despite the shorter time frame, you can use more granular details at multiple relevant geographic and demographic levels.
2. Delve into granularities
Most digital marketing strategies today are characterized by their hyper-local, hyper-personalized nature. Unlike nationwide TV campaigns of the past, digital strategies now revolve around delivering personalized communication to customers. For instance, marketers might choose to speak to newly married women working in an IT job in Bangalore to promote their women’s health product. With such a wealth of targeting options available, it becomes critical for marketers to evaluate campaigns at an equally granular level. This allows them to uncover patterns and identify key drivers to further improve campaign performance.
3. Split marketing elements by ad formats
With traditional advertising, budgets are usually allocated platform-wise, for example, separate budgets for television, radio and print. A common misconception is that the same technique can be used for digital platforms, for example, creating a separate budget for YouTube, Facebook and Search. However, digital platforms cannot be as easily segregated because multiple ad formats can co-exist within a single platform. On YouTube, for instance, brands can choose between masthead ads, 6-second bumper videos, TrueView videos or In-Stream ads depending upon your marketing objective. Each ad format will thus require a separate budget allocation.
4. Analyse format-wise performance
In the same way that budgets need to be segregated by format not platform, performance analysis also needs to be done format-wise. The wealth of ad formats that digital marketing offers requires marketers to do an in-depth analysis of the performance of each to uncover which format resonated the best with the target audience. This type of analysis is important because marketers might uncover that whereas one platform as a whole performed better than the others, a specific ad format on another platform out-performed other formats. This can help optimize future budgets and campaign strategies.
Our client, a leading real estate developer based in Chennai, approached us to help them reach a massive goal. For just 100 hours, their projects would be available at highly-discounted prices. Within this limited period, we had to maximize their reach, ad efficiency and results.
To achieve this ambitious goal within such a limited time period, we had to set up a flexible and adaptable digital marketing mix. We developed two strategies: one aimed at raising awareness among a consumer base who was not aware of the developer’s luxury segment and one who were aware of the brand, but needed the final push to invest in a home.
As part of the marketing mix, we leveraged a number of platforms and formats, including YouTube bumper ads, promotions across social media channels, Gmail video ads and countdown ads on Google. To create a holistic approach, we also launched roadblock ads on traditional print media, including many of India’s leading newspapers such as The Hindu and Times of India.
This highly-segmented strategy delivered phenomenal results. Within the 100-hour window, we were able to generate an incredible 6,152 leads. These results highlight the fact that an adaptable digital marketing mix is critical for brands looking to drive business results.
Watch the youtube bumper Ad below:
Marketing mix modelling has long been an indispensable part of marketing literature. Rather than do away with this tried-and-tested method completely, marketers should adapt each of the principles of traditional marketing models to the digital world.
Social Beat is delighted to strengthen its leadership team by bringing on board Avinash Shenoy, Pratiksha Sinha and Tuhina Bapuli as Executive Vice Presidents (EVP) for Mumbai and Bangalore. They will be working closely with the team to drive growth and move closer towards the company’s vision of being India’s no. 1 independent digital agency by 2021.
Avinash Shenoy hails from a core advertising, brand management and marketing communications background. His professional journey spans across management and execution of strategies for various marquee brands. His 17-year-long professional journey includes working at various key roles in brand marketing and customer marketing at PepsiCo, in addition to managing key personal care brands for Unilever at Lowe. He was also a part of a key online jewellery brand where he worked towards delivering their growth hacking and digital marketing initiatives.
Talking about his new role as an Executive Vice President in Mumbai, Avinash stated, “The new world of the consumer is fast evolving in terms of consumption and communication, thanks to digitisation and e-commerce. It is imperative that brands and businesses are on top of the game to match these needs. I really believe that the team at Social Beat has the right passion and purpose to deliver these evolving digital needs. I am delighted to be a part of this journey and look forward to working with this young and dynamic team to create winning ideas, and solutions to build business for our clients.”
Pratiksha’s career in marketing took shape 6 years ago, with her gaining expertise in creating and executing GTM strategies for known brands across various verticals, including building client relations and business development. Her stint at Sokrati and Anarock has been instrumental in shaping her career in performance marketing. In Anarock, she was also given the opportunity to onboard and work with established brands such as Piramal Realty, TATA Housing, Mahindra, Shapoorji, Viacom, Swiggy and AJIO, to name a few.
Joining Social Beat as an Executive Vice President in Mumbai, Pratiksha shared, “In Social Beat, my key focus area would be to grow our business by almost 10x in the next 18 months, by helping our existing clients scale their customer growth through paid marketing and also onboarding new clients who are looking at driving significant scale through digital.”
Tuhina Bapuli has over 10 years of experience in the craft of core marketing having worked in brand awareness, consumer marketing and brand building. She has also gained exposure in corporate events including MICE and trade meets, and managed dealer engagements with CHA, IT, FMCG, Apparel, BFSI and automotive brands. In addition to this, she has explored structured social and digital marketing attributed to her stint at Autumn Grey – WPP.
Expressing her excitement, Tuhina said: “The digital marketing field is ever-evolving, with the need to stand out in the crowd. It is indeed exciting to step into a new journey in my professional career, working with a company that recognises talent and brings the best results. I look forward to contributing my skills and expertise at our Bangalore office, and utilising digital marketing’s dynamic nature to the fullest.”
Co-Founder, Suneil Chawla said, “As we move towards our goal of being the no. 1 independent digital agency in India, we are really excited to have Avinash, Pratiksha and Tuhina join us and play a crucial role in our growth journey. With each of them having varied experiences across branding, storytelling and performance marketing – we look forward to them accelerating our growth, nurturing talent and taking our work across some of India’s best brands. We are delighted to have the three of them be a part of this journey.”