Archive: June 23, 2022

Transform your marketing by being future ready

At this point in time, new trends, new technologies, and changing patterns of consumer behaviours are transforming the industry like never before and with it- ample opportunities are emerging. It’s up to brand marketers to build capabilities and capacities in order to stay ahead of the curve. 

By Samir Kapur

The author is a management consultant and a visiting faculty for marketing strategies at management colleges. Views expressed are personal.

The business of marketing and communication is fiercely dynamic, even more so now, amidst the accelerated pace of digital transformation unleashed by the pandemic. Having said that, brands that do not realign, reinvent and innovate strategies to keep pace with this rapidly-changing ecosystem will surely miss the wagon.

At this point in time, new trends, new technologies, and changing patterns of consumer behaviors are transforming the industry like never before and with it- ample opportunities are emerging. It’s up to brand marketers to build capabilities and capacities in order to stay ahead of the curve.

That brings us to the question, what does the future of marketing look like and what can brands do to adapt to this shifting environment.

Let’s look at the Metaverse for instance. It may present a boundless, multi-sensory interface for new products, services, and experiences because at its very core lies a convergence of technologies, social, commerce, and services that are changing the way people live and interact. With the advent of advanced digital technologies, the Metaverse is gradually becoming a digital twin of the physical world as we know it. What it translates to is that there will be emerging business opportunities and marketing strategies that brands should reflect on tapping.

Another significant trend that will make its presence felt in the business and marketing arena is “bot commerce”. Brands will conceptualize and execute strategies for marketing to machines. Bots and AI systems will replace humans in conducting several essential routine activities and decision-making functions. There will be AI-based shopping apps that will shop for people based on their criteria, choices, and shopping behaviors – be it purchasing groceries or selecting gifts. What it implies is, that businesses and brands will have to devise integrated marketing strategies that can interface with personal shopping AI tech, so as to optimize their sales and ROI.

The transition from ‘second-screen’ to ‘multi-screen’ is another channel distribution disruption that will change the face of marketing in the future. For instance, the emergence and proliferation of connected and autonomous vehicles will usher in a large number of screens that will be used for intelligence, entertainment, and advertising. Elon Musk’s Neuralink is building technologies that can directly link human brains to applications. Does this mean that brands can get real-time feedback on their product or can influence customer decision-making in real-time? Possibly!

From the global economy point of view, we all know that supply chains across the world are highly disrupted, inflation is on the rise, and wages have crunched. The post-COVID consumer appetite has also undergone a paradigm shift in terms of how consumers shop, and with which all brands. It is imperative for brands now to deliver exquisite customer experiences through value-based innovation. Customers want to engage with brands at their time, at their convenience, and in their method. They are no longer looking at just pricing and product quality when it comes to making a purchase.

They are putting equal weightage on human interactions, ease of use, personalization, data security, and the enterprise culture of the brand. In fact, as per a study by PwC, 73% of customers regard CX as being a key determinant in their purchase decisions. Also, 87% of business leaders consider CX as their organization’s top growth engine.

Considering the aforementioned trends, being future-ready is no more a matter of choice, but absolute indispensability.

While we all know that accurately predicting the future is next to impossible, however, we can create a structure that can enable future readiness in the long run, while driving pliability and resilience in the short term. It is imperative for brands to realize that every business transformation should be outside in. The transformation should be future-focussed and every change should be directed towards serving the customer (stakeholder) in the best manner possible – identifying and addressing their met, unmet and unknown needs. Such future-ready transformation is not only more resilient in the face of adversities, but also is a perfect recipe for growth over numerous time horizons.

Let us now consider some key attributes that brands and marketers can adapt, to be future-ready.

Delivering superlative stakeholder experience reigns supreme. Brands should devise strategies to deliver superior experiences for customers at every stage of engagement. Brands should also build structures, roles, and ways of working that serve customers most effectively. It is also equally imperative for businesses to build capabilities in terms of tools, resources, and skills needed to be a future-ready marketing organization. Similarly, it is also equally important to draw out processes, procedures, and governance outlines that facilitate robust decision-making, responsibility and accountability. Last but not the least, is Change Management – The competence and number of individuals, teams, and the organization to implement new processes, tools, and adopt behaviours to deliver the requisite change.

For start-ups and scale-ups, the answer typically hovers around building new marketing capabilities and processes that enable rapid growth and evolution. However, for larger enterprises, future-readiness often implies company-spanned transformation.

Indian Chamber of Commerce along with the Department ofFood Processing Industries & Horticulture, Govt of West Bengal organises Bengal Mango Utsav 2022 from 23rd to 25th June

Kolkata, 23 June 2022: After The grand success of many editions of Bengal Mango Utsav from 2012 and with the view to promote the Bengal Mango and Mango products, the Department of Food Processing Industries & Horticulture, Government of West Bengal jointly with the Indian Chamber of Commerce has organized BengalMango Utsav 2022 during 23rd – 25th June 2022 at Netaji Indoor Stadium, Kolkata exclusively for showcasing the potential of Indian Mango and Mango products. This event aims to facilitate market linkages, explore the export possibilities of both fresh and processed products of mango, ensure better prices for the growers and implement quality standards.

The Inaugural session of Bengal Mango Utsav 2022 has been graced by the Mayor of Kolkata, Shri Firhad Hakim,  Mr. Subrata Saha Hon’ble Minister for Food Processing Industries & Horticulture, Government of West Bengal, Dr. Subrata Gupta Additional ChiefSecretary, Department of Food Processing Industries and Horticulture, Government of West Bengal, Sovandeb Chattopadhyay, Minister for Power & Non-Conventional Energy, Government of West Bengal and Dr. Rajeev Singh, Director General of Indian Chamber of Commerce.

Mayor of Kolkata, Shri Firhad Hakim said during the inauguration, “West Bengal government has taken the initiative to help farmers be it in Malda or anywhere else in the States to flourish the commercial cultivation of Mango hence we are trying to popularise newer and exotic varieties of Bengal Mango and its various processed products through this festival. We aim to take this festival to an international level as well to make the consumers aware of different exotic table varieties of Bengal Mango and avail the opportunity of buying different varieties of good quality Mangos at a reasonable price.”

Dr. Rajeev Singh, Director General of the Indian Chamber of Commerce said, “Indian Chamber of Commerce is extremely honoured to be associated with the West Bengal Bengal Government for the Mango Utsav 2022. This platform will enable farmers to connect with the buyers and we all are trying our best to implement the same. This platform will help explore business opportunities across the supply chain and build linkages between growers and retailers.”

Proudly Indian D2C lifestyle brand Zouk expands into cruelty-free footwear; launches a modern Indian brand identity including a Devanagiri version

India, 23rd June 2022 : Proudly Indian and PeTA-approved Vegan brand Zouk launched their India-inspired cruelty-free footwear today. Run by IIM Ahmedabad alumni duo Disha Singh and Pradeep Krishnakumar, Zouk has over 2,00,000 happy customers in the Bags category already. Zouk also unveiled its new brand identity, with the brand name written in English and Hindi, signifying their Proudly Indian roots and the modern global ambitions.

Last year, Zouk had raised over $1.5 million from Stellaris Venture Partners, Titan Capital, and the founders of D2C brands Mamaearth, Wow Skin Science, and Beardo. The brand had stated that it would launch products in newer categories at that point and is eyeing to hit Rs. 100 crore in annualized revenue run rate.

Speaking about the footwear launch, founder and CEO Disha said, “When we asked our customers what was the second category Zouk should offer, the top request was footwear. So, today we are very happy to offer India-inspired styles and super comfortable footwear that women deserve. As always with Zouk, the footwear is cruelty-free.”

The brand also unveiled a new identity to signify its proudly Indian roots with global ambitions. The new logo has a distinctly bold font with angled pen strokes. The brand also decided to write its brand name in the Devanagari script as part of the logo. Further, the logo has a leaf motif embedded in the K to signify the Cruelty-free mission and a full stop to symbolize the modern Indian classic that Zouk effortlessly defines.

Talking more about the why of the new brand identity, co-founder Pradeep said, “The initial brand identity was something we had quickly put together to start off. But we felt we have now reached a stage where the brand and its customers deserved something better. Something that stood for what we as a brand and what our products stand for. Hence we decided to go back to the drawing board.”

For the new identity, the brand did extensive research, talking to multiple stakeholders. Two key focus groups were existing customers on one side and the product designers, and artisans on other side.

Elaborating more about the takeaways of this research, Disha added, “We first captured how our product designers and artisans come up with a new product. We realized we tap into the rich heritage of India. However, as a brand for the people by the people, we never made something that looked designer. Instead, we went for something that has a subtle elegance. On the other hand, when we spoke to lots of customers, they shared exactly the same. We thus realized that we wanted the new identity to be Proud but Humble, just like the modern Indian. Proud about our achievements yet humble about where we are and hence driven to achieve a lot more very soon.”

On these lines, the brand has also launched a new campaign called Proud but Humble. In this, Zouk’s customers, employees, and influencers talk about their humble roots and their life’s achievements with pride. The brand hopes it can play its part in empowering their consumers journey of achieving more by offering stylish and functional lifestyle products.

With this new brand identity, Zouk looks to venture into multiple new categories and geographies in the coming few years with their India-inspired and Cruelty-free mission. The new identity was conceptualized by Mumbai-based design firm LOCAL.

ffreedom and FWWB sign MoU to provide livelihood education to women aspiring to become nano entrepreneurs

Bengaluru, June 23, 2022: In its initiative to provide access to knowledge and opportunities to the people on becoming financially independent, ffreedom app (formerly IndianMoney) has signed a Memorandum of Understanding (MoU) with Friends of Women’s World Banking (FWWB), an organisation whose focus is to provide direct access to financial services and recognising women’s role in building a nation’s economy. The MoU was signed in the presence of C S Sudheer, Founder & CEO, ffreedom app and Mr S S Bhat, CEO of FWWB.

The objective of Friends of Women’s World Banking (FWWB) is support women from the low-income household in their journey towards self-reliance and thereby helping them become part of the mainstream of the economy. Some of the thematic areas of FWWB’s work are Renewable – Solar Energy, Water and Sanitation, Women’s Livelihood and Entrepreneurship and Agriculture.

Speaking after signing the MoU, C S Sudheer, Founder & CEO, ffreedom app, said “More important than how we achieve financial freedom, it is the why. ffreedom app enjoys a fair share of the massive livelihood education market by way of its highly engaging content and a world-class social networking platform for the marginalized segment of people. It is also offering a peer-to-peer social commerce platform to facilitate commerce between the members of the app. Hence, our partnership with Friends of Women’s World Banking would further aim at greater financial inclusion of women, increasing their financial access and economic independence by supporting them in their livelihood activities”.

Mr S S Bhat, Chief Executive Officer, FWWB said, “We are glad to be associated with ffreedom app. The objective of ffreedom app and us is to focus on financial services aimed at equipping a greater number of low-income households, more so with women community with knowledge critical to gaining financial independence. Various courses on personal finance and business courses from ffreedom app would provide value-added livelihood and entrepreneurship education to low-income women like the tailoring course, pickle business course, home-made beauty products, salon and spa business course, home bakery business and Mudra Yojana courses etc in their own preferred language to make them financially independent and become the part of mainstream economy. We have always believed that empowering women empowers family, empowered family contributes for the community development and community will help ecosystem development leading to progress of the nation”.

Pratap Behera, Chief Marketing Officer, ffreedom app, said, “We are very glad to sign MoU with FWWB. ffreedom is currently helping over 7.6 million people with high quality livelihood education through its mobile application ffreedom App.  This is in line with the country’s larger mission to help Indians gain livelihood independence by helping the common man earn sufficiently.”

The Barbeque Company plans to expand and launch 10 outlets in 2022-23, launches at Vaishali

The Barbeque Company, the finest in town for its large laid out Buffet Services since 2015 is expanding and coming up with its new outlet in Signature Global Food Mall in Vaishali, Uttar Pradesh. The Barbeque Company plans to launch 10 more outlets across different locations in coming financial year.

The Barbeque Company is on the path of new outlets in various locations. These expansions speak of the success of The Barbeque Company which has been going since it started in 2015.

The Barbeque Company offers affordable, pocket-friendly, and delicious buffets along with grilling and fine dining experiences.

With the sole aim of serving its guests with the finest and lip-smacking dishes in buffets, The Barbeque Company stands out and has become the go-to place for everyone in town.

Shashank Kumar Misra, Director of The Barbeque Company talks about expansion and quotes,” With this new outlet in Heart of Ghaziabad, we wish to serve people nothing but the best The Barbeque Company. We leave no stone unturned when it comes to giving our guests the finest experience. We wish the people of Vaishali to welcome this new outlet with open hands.”

On this occasion Mr. Pradeep Aggarwal, Chairman, and Whole Time Director, Signature Global India Ltd. Said that “we are delighted to apprise everyone that we have added many new outlets of various renowned food brands in Signature Global Food Mall Vaishali. Our company strives to provide a pleasant food experience to our consumers through a vast variety of tastes available across India. With The Barbeque Company, we have a total of 9 different food outlets available for the consumers of NCR residing in the vicinity.”

One can experience the feast of deliciousness soon at Vaishali. With the launching of a new outlet, The Barbeque Company promises about how its customers will be served with a wide range of mouth-watering unending buffets by bringing the flavors to their table.

Be it a Sunday brunch, corporate buffet feast, or a romantic Thursday night, The Barbeque Company got it all covered.

With the hope of winning not only hearts but exploring what needs to be done more to provide the best quality to its customers’ The Barbeque Company is all set to launch its new outlets pretty soon.

AU Small Finance Bank launches industry’s first customisable Credit Card, LIT

Hyderabad, June 2022: Staying true to its mission of Badlaav, AU Small Finance Bank today launched an innovative Credit Card product that brings a revolutionary change in the credit card landscape. The AU Bank LIT (Live-It-Today) Credit Card, by the largest small finance bank and one of the fastest-growing retail banks in India, offers a unique value proposition to cardholders – to choose the features they want and for the time period they want.

While credit card companies offer attractive products in different categories, it is often difficult for customers to find the combination of all such features in one single card. This forces them to opt for multiple credit cards offering specific category rewards like Travel card for maximising travel related spends or co-branded cards for shopping on specific e-commerce sites. With the LIT Credit Card, the Bank has put the power to choose these features in the hands of the customers – all categories in one card. Further, they also get the freedom to switch on or off these features as per their changing lifestyle requirements.

LIT credit card provides a higher degree of engagement to customers, through the AU0101 app as they can track their saving/earnings daily to maximize their benefits. Most importantly, the card hosts multiple benefits and customers can activate any feature on-the-go in real time for a small convenience fee. LIT provides the cardholder a complete control on its offers and fee that they pay for those offers in a clear, transparent manner and saves the cardholders multitudes of annual/renewal fee for benefits they don’t use. Cardholders can avail the best of both Cashbacks and Reward Points, using the features that are offered. The default validity period for each feature is 90 days.

• LIT Credit Card offers five categories of features, namely:
• Lounge Access: Wherein customers can opt for one or two lounge access per quarter
• Milestone Benefits: By which, one can get more reward points or cashbacks
• OTT & Lifestyle Memberships: Wherein they can get free membership to various platforms and services
• Accelerated Rewards (Online/Offline): Customers can get higher reward points for online and POS transactions
• Other Features: Including fuel surcharge waiver, cashback on grocery, and much more

“At AU Bank, we have always believed in challenging the status quo by leveraging technology and innovation to bring the change that the banking industry needs. Last year, we became the first Small Finance Bank to start a Credit Card portfolio to empower our customers. Soon, we observed that the digitally-savvy and GenZ consumers needed more control over the products they use. This led to the evolution of the customizable LIT Credit Card which brings the features of many credit cards into a single card. We will continue to launch many such innovative products and remain true to our mission of being the change agent through our mission, Badlaav Humse Hai,” said Mr. Sanjay Agarwal, MD & CEO, AU Small Finance Bank. 

While AU Bank already has a bouquet of card services, the addition of the LIT Credit Card will help it cater to the evolving needs of a digital-savvy generation of informed users. AU Bank launched their first range of credit cards last year. Since then, the Bank has successfully enrolled more than 2.3 Lakh credit cards customers from over 200 districts of Tier 2 and Tier 3 cities, majority of whom are first time credit card users.