The summit witnessed discussions on digital transformation, measuring the ROI in digital marketing, how content marketing works for a brand and a lot more
BestMediaInfo Bureau | Mumbai | August 9, 2016
The first Social Beat Digital Leadership Summit 2016, which recently concluded in Chennai, witnessed participation of CMOs, brand heads and CXOs from various industries. Mithun Sacheti, Founder of Carat Lane and the keynote speaker, started the summit by demonstrating how data-driven Carat Lane is as a company with over 4,000 data points.
Speaking at the event, Sacheti said, âDigital is going to be key for every business in India. The discovery of products and services is going to happen via digital; consumption will be omni-channel across digital, retail and other channels. The beauty of digital is that you can analyse and measure everything. It's never too much data to decide your action items. At Carat Lane, we analyse over 4,000 data points on a monthly basis.â
The keynote session was followed by a panel discussion on measuring return on investment (ROI) from digital marketing. Moderating the panel, Suneil Chawla, Co-Founder, Social Beat, said, âDepending on whether the business has a product which has high search volume, Google or social media can be more effective.â
Arasu Shankar from eShakti.com said, âApart from tracking the cost of acquiring a customer, it is important to understand the lifetime value of the customer in order to be able to understand the profitability of the business.â
Peshwa Acharya, CMO, Sterling Holidays, said, âDigital transformation has already happened from the consumerâs perspective. Now itâs time for brands to wake up to this opportunity. There will be many inflection points, for example, COD in e-commerce. Brands need to anticipate and leverage these inflection points to their advantage.â
The last discussion was around how content marketing can work for your brand as Matrimony and Murugappa Group shared their experience. Speaking on the content strategy around Madras song, Vijaylakshmi D, Senior Associate Vice-President, Murugappa Group, said, âMurugappa Group always had a strong connect with the city of Madras and we have had on-going activities around this. When we looked at how we connect with todayâs generation, we decided to use music and video as the medium to create the Madras song to engage people to share their love for Madras.â The group allocates close to 15 per cent of marketing budgets toward content marketing.
Rajasekar KS, GM, Social Media and Content, Matrimony.com, added, âContent marketing is more about content and less about marketing. If you can understand your consumersâ problems and leverage that to build content, then it will strike the right cord with the audience.â
Vikas Chawla, Co-Founder, Social Beat, said, âThe digital medium is powerful and only creativity is the limit. We hope that the experience sharing by CMOs and marketing heads would enable the entire industry to learn and grow their digital presence.â