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Brand Studio Live43:002 Apr 2019

What this BrandMasters episode teaches about privacy-first marketing

A BrandMasters authority page on privacy-first marketing, digital transformation, customer experience. It turns the interview into a practical reference for senior marketers, agencies and growth leaders.

BrandMasters panel

privacy-first marketingdigital transformationcustomer experience

ORIGINAL RECORDWatch on YouTube ↗

THE BIG IDEA

And if not, how do we persuade customers to stay loyal in this digital age?

FOR MARKETERS

Three takeaways worth carrying forward.

01
Vithika Joshi Deoras, VP Strategy and Brands at IHCL So when I look at digital and I'm speaking as a professional, when I look at digital I think it's done two things for us.
02
So to me, I think we are entering a new age of loyalty with the advent of this digital technology and with the consumers getting more and more digitally savvy.
03
Hosted jointly by the HD Brand Studio and DMA Asia, Brand Studio Live brings together the country's top CXOs and we talk about the hottest topics in marketing.

HOW MARKETING HAS CHANGED

Connected to the DMAasia operating frame.

Proof

This episode connects privacy-first marketing to credible evidence, leadership archives and field-tested marketing practice.

Access

This episode connects privacy-first marketing to routes into communities, councils, juries and senior conversations.

Ascent

This episode connects privacy-first marketing to learning, recognition and the next generation of marketing leadership.

AdChoices / DAA

This episode connects privacy-first marketing to privacy-first marketing, consumer trust and responsible data use.

Unfinished Business

This episode connects privacy-first marketing to open industry problems that still need senior participation.

TIMELESS RULES

Durable lessons from the record.

Start with the consumer problem, not the channel.
Treat digital transformation as a behaviour change, not a software purchase.
Measure effectiveness without losing the brand story.

THE QUESTION NOW

If privacy-first marketing is now table stakes, what will make the brand genuinely harder to ignore?

Take it into Unfinished Business →

READABLE TRANSCRIPT7,703 words

Ladies and gentlemen welcome to episode 10 of Brand Studio Live. I'm Ramit Arora and I have a brand new set of brand masters with me today. Hosted jointly by the HD Brand Studio and DMA Asia, Brand Studio Live brings together the country's top CXOs and we talk about the hottest topics in marketing. In the process, we not only end up learning from the best but being inspired by them.

Episode 10 is a continuation of the Mumbai chapter of Brand Studio Live where we moved out of the HD newsroom to the very inspiring venue of BSC. Thank you to BSC for hosting us. Previously of course called the Bombay Stock Exchange. Can there be a more fitting host? Big thank you to everyone at the BSC. Without further delay, let's get started with today's episode.

The internet has given marketeers plenty of opportunity. It however has also presented a huge set of challenges to marketeers and I can tell you personally that I've struggled with a few of them. They need to constantly work on retaining existing customers and to bring in new ones in the face of fierce competition. There's a wide variety of products to choose from which means customers have the right to be fickle.

Is the concept of brand loyalty therefore fading out? Do we need to bow to this fickle customer and to this new reality? And if not, how do we persuade customers to stay loyal in this digital age? My first guest is Vithika Joshi Deoras, VP Strategy and Brands at IHCL. Vithika has worked across sectors like retail, financial services, telecom and consumer goods. Her expertise lies in data and analytics, business planning, product management and consumer strategy. It's really a pleasure to have you here, Vithika.

Simple question to start. Do you think loyalty has taken on a new avatar in the digital era or do you think loyalty is an overstated concept now? And what's the path you think brands need to chart in this new reality? Vithika Joshi Deoras, VP Strategy and Brands at IHCL So when I look at digital and I'm speaking as a professional, when I look at digital I think it's done two things for us. One is it's brought about an age of awareness and an age of transparency.

So there's a plethora of information that is today now available and is very easily accessible. And hence there is an awareness level which was hitherto not there. And there are levels of transparency which again are unheard of. What these two things really do is they have a huge dependence and what they have really led to is a passing of the power in the hands of the consumer. And now today the consumer actually holds genuine power in his or her hand.

Now when we look at that and the implication that has on loyalty or on brands, I think it's a super super age for brands to be in. And contrary to popular belief, I do believe that in this age with the advent of digital technology, digital means of communication and where the consumer becoming more and more digitally savvy, I think it's an age where brands can actually thrive and build loyalty like never before.

So today and when we look at any sort of research which is happening, whether we like to call it Generation X or Y or Z, they're not only just interacting with brands, they're actually adopting brands and they're actually adopting them at very deep levels. So brands today have actually become a means of self-expression for this audience. And digital allows you to engage with consumers, it allows you to put forward your proposition and consumers then respond and engage with it and react to it.

So to me, I think we are entering a new age of loyalty with the advent of this digital technology and with the consumers getting more and more digitally savvy. So to me, it's a fantastic age to be in. I think the challenge that starts coming in is with this massive awareness and this massive amounts of transparency, brands which are built on genuine value proposition, brands which are built on the principles of honesty and transparency,

brands which believe in creating an element of trust and can actually pass that on to the consumers as well are the brands that are going to thrive. So I think the rules of the game have actually are fairly foundational and the way we are playing it has changed a little bit. But loyalty for me continues to be a concept which is very, very relevant. Brands love loyal consumers and consumers love brands who treat them loyally. Brands love loyal consumers and consumers love brands who treat them as well.

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