By Ashok Punatar Mobile: 09820746494 Email: firstname.lastname@example.org
Epsilon, a global leader in creating connections between people and brands, today released the commissioned study ‘Marketing In India Is Personal, Not Just Business’ conducted by Forrester Consulting. The findings revealed the huge chasm between what marketeers believe they need to do to reach consumers, and what consumers actually prefer.
The study analysed the marketing techniques used by Indian brands and the areas they could improve to optimise their Return on Marketing Investment (ROMI). The findings indicate that 74% of marketeers use marketing technologies to reach consumers via SMS while only 2% of consumers prefer to receive marketing updates through this channel.
The online survey of more than 600 people that included both consumers and senior marketing professionals in decision-making roles from retail, consumer packaged goods, financial services, insurance and travel, and hospitality brands in India. The study sought to understand the use of marketing technologies across targeted industries and its relationship with consumer expectations regarding advertisements, loyalty and brand engagement.
Key finding of the survey : (Elaborated in Annexure)
● 63% of Indian consumers prefer personalized marketing and are inclined to purchase from brands that provide relevant content and offers
● About 78% of consumers expect companies to have a mobile app (50% regularly keep in touch with their most frequently-purchased brand on their mobile apps), and 68% feel frustrated when a website is not mobile-friendly
● In the next 12 months, 60% of marketeers plan to increase their technology spends
● 71% plan to increase spending on advertising and marketing performance measurement solutions
● 72% of the 25-34 years old read product reviews online
● 63% of Indian consumers are not willing to share personal information with companies to receive more relevant advertising however over 90% will give up information for perks and
● Consumers require transparency and privacy protection, but only 15% of marketers in India consider preparing for GDPR as a priority
In line with this, Ashish Sinha, Country Head, Epsilon shared, “This research is a barometer for marketeers to guide them in reorienting their strategies and priorities to serve their consumers better and more effectively. We need to help marketeers understand what they are misreading when it comes to customer engagement. The study helps understand consumers and their predilections to help marketeers evolve. For instance, the study found, although about 92% of marketeers in India consider improving their ability to personalize capabilities as priority in marketing, the Indian market is unfledged in terms of data and technology readiness, cross-channel expertise, and in bridging organizational silos.”
He further added, “It is a big challenge for marketeers to opt for and use the right technology to help them make sense of data and make triable marketing decisions as fast as possible. Matters like privacy are sensitive areas for Indians and hence, marketeers need to sustain a balance between personalization and privacy. Indian marketeers need to find good partners with proven expertise for strategic guidance around collecting, cleansing and integrating consumer data and break down the internal data layers to improve their ROMI.”
Marketeers need to better understand how consumers want to be served in order to align their (Enterprise Marketing Technology) EMT investments and optimize their omnichannel marketing.