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“Most Marketers Are Obsessed About Building A Facebook Page”
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“While it may seem blindingly obvious that marketers should be chasing marketing lifecycle, segment, channel goals, they are increasingly getting obsessed with means like building a Facebook page,” says Srinivas Chari, co-founder and CMO of Xerago.
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Thursday, June 07, 2012:
Marketing plays an integral role in promoting a brand. Mindful of this, it would not be incorrect to say that marketing can break or make a brand. Xerago is one such company that helps companies better handle their customers with high powered marketing interventions. EFYTimes spoke to Srinivas Chari, co-founder and CMO of the company...
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When you say your company deals in analytical, direct and interactive marketing, what exactly do you mean by that?
Xerago is a Customer Value Maximisation company i.e. we help our customers manage their customers better through high powered marketing interventions. Our solutions use a combination of Insightful Analytics, Process Maturity, Creative Excellence and Immersive Interactive experiences.
This recipe helps us craft truly elegant and measurable marketing interventions for our clients that maximise value from their marketing initiatives.
How has the marketing scene changed today? How has the online medium changed the marketing scenario?
Current day marketing has become highly accountable. Most marketers have realised that traditional methods of marketing simply don’t work in this new milieu. They are today actively seeking, investing and mastering newer methods and tools that go beyond making their brands merely visible to ones that allow better consumer understanding, precise targeting, customised offering and above all that which engage and let them have a two-way conversation with their customers. Over the last few years, businesses and marketers have been seeing a tremendous shift away from traditional marketing towards interactive methods like social media, email marketing and search marketing. Digital marketing is becoming an increasingly vital part of the marketing mix to help businesses reach new audiences and look after existing customers in a personalised and highly targeted way. While Digital Marketing cannot completely replace traditional marketing; digital has ushered in the following virtues to traditional marketing initiatives like:- Accountability / RoI, Personalisation, Context
For, the progressive marketer, the real challenge only begins from here. Over the next decade, traditional media will undergo upheaval in terms of re-configuring budgets in favour of Social and Search. And with the current thrust pioneered by Facebook, the Search and Social space has converged seamlessly in the Digital world. And other trends where Mobile will be the device of choice to consume the content, the whole space is set for exciting times ahead!
With more and more companies making their online presence felt, what is the right way to ensure that one doesn’t get lost in the World Wide Web?
Digital is today's reality and has become an increasingly vital part of the marketing mix to help businesses reach new audiences and manage existing customers. With terabytes of content available and a plethora of options that inundates marketers, it’s very easy to go astray with your Digital initiative. Given below is a broad guideline
• Build a strategy
• Start with your customer in mind and craft simple experiences
• Respond when customers seek intervention and don’t interrupt
• Build for context, action and location
• Engage and personalise interaction
• Always use data and respond to insights
• Test options using simple A/B, regression or multivariate optimisation and change
• Leverage on technology as an enabler
Is there any mistake that companies end up doing in their marketing initiatives? What is the most digressing trend that you see?
Thanks to new age media, information and data is no longer a challenge. As an offshoot of the information overload and clutter that marketers face today, they end up chasing the means rather than the end! While it may seem blindingly obvious, that marketers should be chasing marketing lifecycle, segment, channel goals most marketers are getting obsessed with means like building a Facebook page..
Are companies willing to pay for marketing today or is it seen as an overhead cost?
Marketing as a function directly impacts an entity’s revenue / top line. Considering that revenue maximization is infinite, no entity can afford to perceive it as an overhead. The problem however is that some companies think that ADVERTISING = MARKETING! And this is where it all starts going wrong… and hence some companies start treating marketing initiatives as an overhead.
Which vertical invests the most in marketing?
Pharma as a vertical spends the highest in marketing; followed by FMCG.
However several large brands like P&G, Unilever, Pepsico, Coca-Cola create a huge visibility since Ad spends as part of their marketing outlays are very high. However in the past few years, re-allocation of spends from advertising to other forms of communication particularly social media is seen even within the FMCG vertical.
Can you tell us something about your clients?
The one distinctive feature of all Xerago clients is their commitment to accountable and RoI based marketing. Over the past decade, Xerago has worked with several clients across the globe, across verticals delivering a spectrum of high performance marketing solutions. Our indicative client list includes Intel, Citibank, Microsoft, HP, Vedanta Group, HDFC, ICICI and Hindustan Lever among others.
Kalpana Sharma, EFYTIMES News Network
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