AD:TECH – What has been a key success story of Logicserve in the past few months and it would be interesting to know how was that made possible?
Prasad – One of the key reasons for growth and success of Logicserve Digital lies in understanding the customer/consumer behaviour in-depth. The customer is the prime focus for us across all our initiatives. Every new tool in the digital marketing space is directed towards enhancing customer engagement.
This ever changing space demands that agencies stay updated with every technological development. And, a strong understanding of these technologies enables us to work well in their eco-system and thereby get the desired output.
Our solution based approach ensures that the brand’s needs are understood, and the marketing goals are thereby met with a comprehensive analysis of the brand and their target audience.
Lastly, our hunger for data analysis is at the core of every strategy we suggest or implement as an agency. This constant consultation of building data-oriented strategies has enabled us to achieve success in all our endeavours.
AD:TECH – Is programmatic the sure shot solution in changing the face of Media Planning and Buying in India and what specific challenges do you see?
Prasad – Programmatic is rapidly shaping up the digital marketing space and is meant for any brand, that;
- Has an appetite for branding & reach
- Aims to communicate better with their new, engaged and existing audiences (through dynamic creatives)
- Wants to achieve better control on data validation & activation
- Understands the need to reduce dependency on a set of publishers
Above all, it empowers the advertiser to have a single view of their digital marketing efforts and reduce redundancies.
These advantages help the advertiser to optimise their overall digital media. Performance thus becomes an outcome rather than just being the sole goal. In the developed world, programmatic is already dominating the media planning & buying space. Brands in India are also catching up fast. The shift is an outcome of advertisers understanding the need to change.
The only challenge that I see is our need to have everything instantly! There is a certain gestation period that is imperative, for not just the algorithm to kick in, but also for us as marketers to understand & analyses the data.
AD:TECH – What would two biggest trends that you see today in Digital Marketing Ecosystem?
Prasad – We live in an era of assistive learning. Today the customers don’t need marketers to bring them awareness; they need marketers who can assist them in making their choices. Hence, digital marketing agencies are expected to do consulting work, thanks to their better understanding of the platform, the digital footprints and the insights derived from consumer behaviour.
The trend of Marketing Automation is here to help automate mundane jobs. Digital marketers are now being flooded with numerous tools that will track the new millennial behaviour that values experience above product quality. Another trend observed is the holistic approach taken by marketers to analyse data due to the integration of offline and online marketing activities to derive a single view of the consumer. With digital disruption, the trend of experiential marketing will come to the forefront due to constant developments in AI, IoT, Beacons, AR/VR, etc..
AD:TECH – What advice would you give to entrepreneurs planning to dive into a 360 degree Digital Marketing solution?
Prasad – Digital marketing isn’t relatively new in the country. However, the dynamism of this industry ensures that the marketer should stay up to date with changes and developments in this space.
First and foremost, every entrepreneur needs to have a holistic approach towards using digital marketing, by holistic, I mean employing all aspects of digital marketing to achieve the desired result.
Secondly, thanks to the focus on improving user experience and the blurring lines between mediums, it is important, now, more than ever to understand the customer/consumer journey and have systems and parameters to measure the success of the strategy. Measurement along with a realistic plan based on your learnings will enable you to achieve your marketing goals.
Lastly, hire an agency and work with them as a team. In this ever changing space, you would need experts who can guide you to make the best use of latest technology updates and stay ahead in your game.
AD:TECH – How do you see ‘being able to measure the impact of Digital on Business’ shape up till 2020?
Prasad- One can see that over the next few years, marketers will have to take complete control of the customer experience.
Recently, a study done by The Economist Intelligence Unit found a few trends that would shape the digital space over 2020 and what would be the measurable parameters of the impact of digital on business.
Calculating ROI for your business is possible with the main metrics such as:
- Revenue impact, Brand Awareness, Customer Acquisition, Lead Generation, Customer Engagement and Budget Efficiency
- Currently, we can see that customer acquisition and revenue impact are considered as the key factors. By 2020, due to the availability of various technology and growth is ad tech and other such tools, revenue would be the prominent measurable component followed by brand awareness and lead generation