A 1% improvement in marketing capability fit is associated with a 2.5% increase in sales growth and 2.35% increase in market value, as per a global study done by MMA India.
Based on this insight, MMA has developed a structured approach by creating a capability fit map for organisations to evolve into winning marketing organisations.
MMA India – a part of MMA global hosted the 11th edition of its marketing event – MMA Impact India 2022 – The Future of Modern Marketing with key stakeholders across industries to champion the theme of enabling organisations to evolve into winning marketing organisations.
Popularly recognised as a credible marketing think tank that brings effective solutions for marketers, MMA also unveiled three informative reports titled ‘Brand Safety Reimagined: A Toolkit for the Modern Marketer’, ‘Modern Marketers Guide to Leveraging Data and Martech 2022’ and ‘Metrics that Matter’ at the event.
The Digital Marketer Brand Safety survey 2022 revealed that while knowledge of brand safety guidelines exists, the implementation is weak in India. The Brand Safety Reimagined toolkit report is an initiative by MMA to highlight why brand safety and suitability need to be part of the marketer’s agenda and explains why it should be owned by marketing organisations.
The Modern Marketers Guide to Leveraging Data and Martech report highlights that most organisations have 25% to 75% data aggregated in a unified datamart. However, many organisations lack the clarity of how unified data can help in improving the connected customer experience.
In addition to these two toolkits, MMA also unveiled a white paper titled ‘Metrics that Matter’ which is an MMA India Board initiative with Meta. It talks about, two common key concerns: ‘What are the metrics that matter and must be measured?’ and ‘How do we measure the cross-media impact of advertising across all digital and non-digital media’.
Moneka Khurana, Country Head and Board member, MMA India, said, “Our theme of Impact this year of evolving into a winning marketing organisation is more inevitable today than ever before. We are in an era of Digital Darwinism where technology and consumers are evolving faster than businesses can naturally adapt. 52% of companies on the Fortune 500 list have become obsolete in the past 20 years. Evolving is no longer an option; it is a necessity to succeed. At Impact this year, we have unveiled a framework that helps businesses evolve with the ever-changing consumer”.
Amit Jain, MMA India Board Chair and Managing Director, L’Oréal India, said, “The interaction between consumers and brands has been evolving rapidly – it is closer, personal, powerful, and pervasive. Hence, the Marketing function needs to be nimble and swift to effectively cater to this evolution. Winning Marketing Organisations need to keep customer value and company value at the heart of all their initiatives. To create strong recall among consumers for your brand, effective storytelling is key. If you have a good story, there is no reason why a customer will not connect with your brand.”
The sessions focused on the tenets of engagement, experience and exchange -commonly referred to as the ‘3E’ formula to attract, acquire and retain the consumer through effective marketing.