Mediaboss Marketing

The Coca-Cola Company has increasingly been focusing on digital transformation initiatives at a global scale. Last year, the company launched its inaugural collection of Coca-Cola NFTs reimagined some of the brands iconic assets for the metaversewith dynamic motion, movement, and multisensorial elementsinspired by shared moments of friendship. Auctioned as one lot, the collection featured multi-sensory NFTs housed inside a Friendship Box (itself an NFT) packaged as a loot box, a play on the popular video game feature involving sealed mystery boxes.

Aligned with their global vision, Coca-Cola in India was recently the official beverage sponsor for the countrys first-ever metaverse wedding, to curate unique digital-first experiences for guests attending virtually. The company is putting-in steadfast efforts on digital transformation at a global scale and is investing heavily in technology and innovation in India.

Commenting on this unique initiative by the brand, Sumeli Chatterjee, Head - Integrated Marketing Experiences (IMX), Coca-Cola India, said, We are in an era of digital disruption, where technology and digitization are key catalysts. At Coca-Cola, Innovation, experimentation, and digital acceleration are all key priority pillars for us. Were devising innovative ways to reach our consumers through a host of digital mediums. As a futuristic Company, we are happy to partner for Indias first, one-of-a-kind metaverse wedding. This concept is at the fore of progressive digital transformation, and we are proud to have played a part in it.

Guests experienced numerous engaging activities, with options to choose from and enjoy virtually. The wedding floor was completely owned by Coca-Cola India, and the beverages section was branded with Coke cans. When guests moved towards the Coca-Cola beverages counter, the Coke jingle began playing automatically. The guests also received discounts and gift cards from the brand as return gifts.

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Coca-Cola India sponsors first-of-its-kind metaverse wedding in India - Exchange4Media

With the pandemic dramatically shifting long-conditioned consumer behavior in just a matter of weeks, digital has cemented its position as the default choice for how consumers choose to interact with the world. As a result, marketers today are re-evaluating their priorities and strategies to make a difference in this new era. What changes does the next normal hold in store for marketing? How can advertisers stay on top of their game amid these transformations? In this year's edition of their annual India Mobile Marketing Handbook, InMobi examines the year that was and discusses the key trends that will influence consumer behavior.

The next wave in India's digital growth

With 810 million internet users as of 2021, India is home to the second-largest internet user base in the world, preceded only by China. This sweeping shift has been evangelized by three main factors: access to the cheapest data tariffs in the world, advanced smartphones at reduced costs and rapidly growing infrastructure that has dramatically improved connectivity. This pervasive growth of digital channels has changed the face of non-urban India. This is proven by the fact that non-urban consumers have shown a massive 3X higher YoY (Year Over Year)growth in users compared to urban consumers. As of 2020,non-urban areas account for over 300 million users, growing at a rate of 13% over the last year.

The growth in digital adoption is spurred by the country's top telecom players, who have been expanding their mobile user bases outside urban areas in recent months. Post Q2 2021 lockdowns, the non-urban mobile data usage for the top 3 Telco players grew by 30-35% - a much sharper increase than the 15-20% rise in urban data usage.

Source: InMobi Mobile Marketing Handbook, India, 2022 and IAMAI-Kantar ICUBE 2020 Report, 2021

Private and public forces unite to drive non-urban Indias digitization

Multiple private and public initiatives are leading the digitization efforts in India, bridging the gap between urban and non-urban India.

Be it promoting regionalcontent, reimagining online shopping for non-urban India, or helping small businesses digitize - such partnerships will continue to enhance the digital experience for non-urban users across India.

Non-urban digital growth: The present and the future

As the ever-growing Indian digitization story unfolds, one can expect all eyes to be on the non-urban connected consumer. While a percentage of this population still does not have active access to the internet, digital adoption continues to be majorly propelled by non-urban India. With widespread mobile-led internet penetration set to grip India in the coming years, brands must rethink their marketing initiatives by paying attention to the needs of their non-urban Indian consumers.

To deep dive into more mobile marketing trends that will rule this year's brand game in India, download InMobi's 2022 India Mobile Marketing Handbook: The Indisputable Magic of Mobile.

Get your queries answered by experts at InMobi, write to them at mobilemarketing@inmobi.com to understand the changing market dynamics and key insights into evolving consumer behavior.

Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com.

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India's next growth story: The rise of the non-urban connected consumer - Exchange4Media

Tire manufacturer Balkrishna Industries Ltd. (BKT) has roped in superstar Ranveer Singh as its brand ambassador.Rajiv Poddar, Jt. Managing Director, Balkrishna Industries Ltd, said, We are overjoyed to announce our brand partnership with youth icon Ranveer Singh, who has established himself as the category leader through sheer hard work and excellence, making him the perfect choice to highlight our brand.

Both BKT and Ranveer Singh have been referred to as mavericks as a result of their versatility and innovativeness in approach and we are excited at building this partnership on the edifice of these qualities. We are confident that Ranveer will be greatly instrumental in amplifying awareness of our unique offerings across India. We look forward to a successful partnership with him for many years to come", Poddar added.

On his new role as the brand ambassador ofBKTTires,Ranveer Singhsaid, Im glad to representBKTTires, as their motto of "Growing Together embracing the spirit of evolving and growing to a brighter, better future strongly resonates with me and I am happy to be associated withBKTworld and values.

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Ranveer Singh roped in as brand ambassador of tyre manufacturer BKT - Exchange4Media

HT Media invited Abheek Biswas, AVP, Consumer Insights at WATConsult, to share the key highlights of the dentsu e4mDigital Advertising Report 2022 on Wednesday, 23rd February.The session was exclusive to HT Media teams, partners and clients, and witnessed some intriguing questions from the audience.

Abheek shed light on digital marketing and advertising trends in India for the new year, how consumer trends are changing the advertising landscape and the opportunities for publishers and advertisers in 2022.

Talking about the sunset of 3rd party cookies, Abheek said I believe this end of an era, as some people call it, is the beginning of a new era of trust and transparency between brands and consumers. It will change the terms of data management, making user content and positive value exchange the key factors. Alternative routes such as creation of first part data sources, cohorts being created around interests, demographics, psychographics and geographies already being created. For most publishers, the solution will come from a blend of options that is unique to their needs.

There was also an interesting discourse on the various post-digital era trends, on which Abheek commented Web 3, NFTs, crypto, conversational commerce etc. are seen as trend because right now they are going through the adoption curve. Innovators are trying to test out the systems. The government has already announced that it is looking into the idea of digital currency, blockchain etc. The next step, inherently, for advertisers and marketers is to take a lead in setting their own blockchain models; initially at the ecosystem level where publishers, advertisers and brands will have the infrastructure setup. Demand from the public will start arising by the next year so within the next 2-3years revenue generation will happen, positively!

In discussion with Mitesh Desai, Head of Sales Excellence and Agency Relationships at HT Media, regarding the way forward for publishers and advertisers in a post-cookie era, Abheek added When the news broke that cookies are going to become redundant, the initial discussion was focussed around the question- What is going to happen to advertising? In my opinion, cookie-less does not mean advertising-less or less personalization and relevancy. It simply means there is a need for a shift towards sustainable advertising and responsible advertising. Non-intrusive personalization is the need of the hour. Consumers put a lot of emphasis on data privacy and regulations are being made for this. Contextual advertising prioritizes user experience and trust. And it does it very well. E.g. Targeting ads just by using content that the customers are already engaged in does not just benefit brand, it provides an improved user experience. Users feel more in tune with the values and interests of the brand. Contextual advertising will take lead in cases where deep data is unavailable. Further integration with messaging, chatbots, creative personalization will lead to a surge in contextual advertising as we approach the cookie-less world.

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The end of 3rd party cookies- Beginning of a new era of trust and transparency - Exchange4Media

Big brands usually opt for the usual influencer marketing strategy of putting their money on macro and celebrity influencers. However, Myntra has launched its own Style Squad comprising of creators from the grassroots. With an aim to strengthen its influencer marketing and social commerce footing, the squad comprises creators that are performing well on the Myntra app. This helps in showing the potential to drive engagement and conversions. Achint Setia, Head of Marketing and Social Commerce at Myntra, talks about the intent and insight behind the property, content-to-commerce strategy, evolving proposition and much more.

Edited Excerpts

What was the insight and inspiration behind the launch of Myntra Style Squad? What are the objectives that you aim to achieve with this property?

Myntra Style Squad is our endeavour to strengthen our creative economy investments. This is central to our social commerce business which is led through influencers and an engagement-to-commerce business model. Over the last couple of years, we have worked with thousands of influencers for a variety of contexts. We have identified a set of people who have performed very well on the platform, who were able to build deeply engaged communities and drive commerce outcomes with Myntra customers. We want to invest further in this set by giving them the right support in terms of resources, deeper insights into trends and customer behaviours as well as training programs to become better at their craft. The style squad will in a way be the ambassadors of Myntras social commerce play, conversations on social media and will represent the platform in its entirety. We have a mix of creators from different geographics, age groups and other demographics and their expertise is also varied from folks who are deep into a bunch of categories. We understand beauty and personal care very well as we operate in these categories on the platform and this is our endeavour to strengthen our footing in that area.

What model will the Style Squad follow in order to drive conversions for Myntra? What were the challenges in executing this idea end-to-end?

The model is a combination of on-demand content and Live commerce content. In the on-demand case, the influencers ideate a set of formats and topics around which they want to build content. There is a monthly calendar on which we align these topics basis what is trending and where lies the consumers intent. They then create their own curations basis their own fashion and beauty prowess. Live commerce is a more immersive content experience. It's 45 minutes to 1-hour long show per live event. The influencers go through the depths of a set of curations, trying to explain to users all the aspects of a particular product or brand. Because it is a live interaction, consumers can ask questions around the fitment of that particular product for their own behaviour, and needs and then shopping can happen.

Both are very different models and have their unique set of challenges. Live is more challenging than on-demand because it requires investment on the influencers part to be able to engage and hold the audience's attention for long and to be able to answer audience questions with expertise. To overcome that challenge, we invest a lot in training these influencers.

How does social commerce or content-to-commerce fit the larger brand and marketing strategy for Myntra? Can you give us a sense of the scale of social commerce for you?

From a marketing perspective, social commerce provides this influencer ecosystem that represents the brand's voice on external platforms as well as on Myntra. It's an extension in terms of tonality, industry, talking to customers. Myntra has always stood for empowering people, diversity and inclusion as a fashion brand. We pride ourselves in coming across as enablers versus somebody who positions as someone more powerful than the consumer. Today, influencers come across as friends, peers and folks who are relatable and hence it's an extension from that standpoint of brand principles. From a platform standpoint, it is very critical in terms of driving new shopping experiences for our customers, giving them new reasons to come back to the platform, driving stickiness, and over a period of time, upgrading them and increasing their share of wallet.

Close to 20% of our monthly active users engage with social commerce. The majority are our regular customers on the platform who understand fashion very well. Social commerce happens to talk to a lot of our premium customers. It's a fairly large base and this number is growing very fast. We aspire to take this number to close to 50% of our user base in the next couple of years.

For a consumer coming to your platform, what does Style Squad offer differently that Fashion Superstar or Myntra Studio haven't already?

Style Squad isnt at the same level as other properties. It is our endeavour to go deeper with a certain set of creators who do well on the platform and help them do better. What changes for the consumers is one, while there'll be many other influences on the platform, the share of voice that the Style Squad generates will go up. Secondly, over a period of time, with the training and the investment behind the style squad, the quality of content and the knowledge they impart on fashion and beauty will dial-up and consumers will benefit from that. Thirdly, they will have more opportunities to talk one-on-one with these Style Squad members which would be very gratifying to consumers and build trust and affinity towards this pool.

While most D2C commerce channels are pivoting to be content-commerce, how has Myntra's proposition evolved over time?

Myntra has always been ahead of the curve in terms of using content smartly. Fashion offers us that opportunity and Myntra took a headstart. As a platform, we have understood how to leverage content to drive conversations on trends, new brands, adoption of new styles and looks and how to use them on different occasions and settings. It is the deeper understanding of building the right fashion content with the right set of influences is where we have evolved significantly through all our experiments over the years. Myntras consumers are slightly more fashion-forward than the average consumer in the country who are looking for a more nuanced experience in fashion and beauty and we have tried to crack our own model of what works better for this consumer.

The content economy has boomed manifold over the last few years but lacks standardization. What are the synergies here for brands as well as creators in terms of monetization?

By bringing the influencers on board and offering their services to our brands in a platformed manner, brands don't need to worry about which influencers to work with, as we've already built that army. We have also built the right experience for the brands, they just have to come up with the objective and how they want to engage with the consumer and then cherry-pick from the wide pool that we have created for them.

This also creates a lot of monetization opportunities for the influencers because Myntra has already established credibility for them. Influencers can now earn a more regular income through the Myntra Style Squad. Myntra social commerce business is one of our critical success metrics and we will be only successful when we pick up these influencers from the grassroots. These people have grown with us and as they become bigger and start earning reasonable money, they can make influencing a full-time profession. This will encourage a lot more people in the country to pick up this as a profession as it becomes more organized.

Going ahead, what new can we expect from Myntra both in the content and business expansion front?

This is a core part of our experience proposition to our consumers. We continue to bring cutting edge tech-enabled content and shopping experiences. Consumers will see the evolution of both Live and Myntra studio in terms of the product investments we've put into immersive experiences. There will be new experiences being brought in, in terms of getting creators on board and ensuring seamless participation of brands. Myntra will bring new content formats this year, given the power of the technology. We have a new format coming alive on the live streaming space as we are experimenting a lot with formats that are typically done well in the offline ecosystem.

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Myntras social commerce business is one of the critical success metrics: Achint Setia - Exchange4Media