The second day of Goafest 2017 began with a stimulating Knowledge Seminar with Sanjay Nazerali, Chief Strategy Officer, Carat Global and Spiritual Guru Shri Gaur Gopal Das. The highlight was the launch of the industry initiative to mitigate violence against women by Union Minister for Women and Child Development Maneka Gandhi.
In his session, Nazerali emphasised the need to think differently from what we have been doing in the past decade. Nazerali started by talking about the need to lay emphasis on globalisation, convergence, data and innovation.
Today, cross-border ecommerce is about $25 billion of the total ecommerce segment. By 2020, cross-border ecommerce will represent 30 per cent of the entire cross-border ecommerce market.
Nazerali said, “The new phoenix is the transfer of physical goods to data and information. Capital-intensive businesses will start giving way to knowledge-intensive businesses. There will be knowledge-based industries that will lead globalisation tomorrow. Legacy infrastructure will give way to digital infrastructure. In the phase of globalisation, we will see a shift from multinationals to small and medium enterprises and individuals.”
17.8 per cent, 15. 1 per cent, 13.7 per cent, 10.8 per cent, 9.3 per cent are the rates of the trend of digital. This also shows a decreasing trend of the growth rate year on year. Everything is going to become digital going forward and advertisers need to understand that. Nazerali also mentioned, “India is growing faster than Google.”
Data represents the return of marketing to the true relationships between the organisations and people. Data helps to get closer to the consumer. Nazerali said we need to focus more on data because if our data revolution was good enough then why are the consumers blocking us on ads. “Data is the most powerful tool that we had in marketing, added Nazerali.
He mentioned four focus points here:
Nazerali said that just because we can measure it doesn’t mean that you know it thoroughly. He said that there is a very big difference between what is true and what is the truth.
Data is interpreted by specialists in the language that we generally don’t understand. “We make complex things simple and communicate them in an understandable language, said Nazerali.
Nazerali said, “We are the silliest and most absurd industry in the world.” He said that the industry comes up with very cool names and designation of data analysts.
Nazerali said one needs to be very careful while promising clients not just sales but also return on investments because sales tomorrow is not a long-term business development. He said that we are in a danger of losing long-term perspective.
One needs to focus on what really is innovation. One needs to understand the difference between what really innovation is and doing things in an innovative manner.