Category Archives: Marketing Consultancy
Driven by several hundred million young women and men, India’s consumer story is one of the world’s most compelling in present times. While India is the fastest growing major economy in the world today, companies are still struggling to enter this market or to stay afloat here.
My previous posts spoke about how you could not just survive, but also thrive in Indian markets, by taking a leaf out of the Marketing Manual of India’s best marketer, Prime Minister Narendra Modi (read posts here: http://wp.me/p6tQjj-3o, http://wp.me/p6tQjj-49, http://wp.me/p6tQjj-5Y and http://wp.me/p6tQjj-6I ).
As a business owner in the Indian market, you need to stay profitable. To do so, you need to source locally and sell via e-commerce. This is where your competitive advantage lies. Just as you are digesting this rather unsettling fact, here comes another one – in India, more than just profitability, what is more important strategically, is how you REALIZE profitability.
A common mistake many business owners looking to play the Indian market make, is to apply Western business metrics that work best in homogenized settings, to measure marketing effectiveness in a country as diverse & complex as India. As a business owner, do recognize that the Indian market is still an indigenous (swadeshi) market that is extremely cost-conscious, fiercely competitive, one that is dominated by disruptive start-ups, where consumers have low disposable incomes (do not be fooled by rising statistics for this indicator – family & business in India are still notoriously tightfisted when in comes to spending) and are easily adaptable to low cost technology. So how you measure your business’ success in the Indian market is something that requires careful thought.
Yeah, no one said this Indian ride would be easy! But I assure you it is worth it. You can actualize profit through three focussed marketing strategies.
To learn how you can create these focused strategies to actualize business profits in India, reach out to me on my website at http://cobblestonesconsulting.com or leave your coordinates in the comments section below.
How can you incorporate all this in your business plans and actions? Do you have the market knowledge and marketing expertise to handle treacherous Indian market conditions? Can your business gain with the help of professional & trustworthy business advice and/or hands-on tactical help?
Feel free to reach out to me at http://cobblestonesconsulting.com for Market Research & Business Consultancy advice. I’ll be happy to serve you.
You have decided to enter the Indian market, much encouraged by the initiatives of Prime Minister Narendra Modi’s government. You have engaged the consumer, segmented the and market and now stand poised to take the next step, when media gets buzzing with the GST bill. In the fast changing Indian markets, this is just a reminder to you.
GST = Get your Strategy Together!
A very important third step in Modi’s Marketing Manual is CREATE. Read about it more at http://wp.me/p6tQjj-3o.
Case in Point:
The Prime Minister is a firm believer in the power of technology. Since taking office in May 2014 the Prime Minister has sought to increase the usage of technology in the working of the Government. He launched the Digital India initiative, an all-encompassing programme, to invigorate the working of the government with latest technology and provide solutions to people’s problems through the power of technology. The Prime Minister has started a unique initiative PRAGATI, a technology based multi-purpose and multi-nodal platform where projects are monitored and people’s problems are addressed. On the last Wednesday of every month, the Prime Minister himself sits down with top officials during the PRAGATI sessions and covers substantial ground in a wide range of sectors. This has made a very positive difference in the lives of many Indians.
Like PM Modi, do you have an Automation, Technology & Engagement Strategy (A.T.E. Strategy) in place to capture a large market share?
Here are a couple of pointers to get you started:
It is common knowledge that the proven channels that helps businesses top the ranks in digital marketing ROI and which offer them a cost-effective way of reaching out to customers are, email marketing, closely followed by social media listening. Automation technologies for data storage and sharing as well as for measurement & analytics can help businesses perform better and deliver results no one expected.
Do you have an integration mechanism ready for this in your marketing strategy?
Navroz Mubarak, peeps. May this New Year be filled with success, prosperity & happiness.
Prime Minister Narendra Modi has been ranked among the 10 most powerful people in the world in a list by Forbes magazine. This comes as no surprise to his fellow 1.3 billion Indians among whom he remains hugely popular, well into the middle of his first term as Prime Minister. Deflecting any anti-incumbency sentiment that besets every politician across the world, PM Modi is often touted by young Indians under the age of 35 years (who form 60% of India’s humongous population) as their best Prime Minister till date!
In India, Modi is the mood of the nation.
Source: Press Trust of India
Describing Modi’s actions in 2016, Forbes took note of the demonetisation drive announced by the PM and wrote, “In November 2016, he unexpectedly announced plans to eliminate India’s two largest bank notes in a bid to reduce black money laundering and corruption, creating nationwide frenzy to swap out the bills.” In spite of the inconvenience this move caused to the general public and being reviled for it by the intelligentsia, both at home & abroad, PM Modi registered widespread support for the government’s demonetisation initiative and surgical strikes in Pakistan occupied Kashmir.
The recent assembly elections in five states, especially in India’s heartland of Uttar Pradesh, bear testimony to the Prime Minister’s popularity surge.
A recent Pew Research Center report has found that 87% of Indians have a favourable view of Modi, including a strong majority (68%) who see the prime minister very favourably. And among all respondents – men and women, the young and old, the urban and rural populations and members of the three national political parties – a majority holds very favourable views of the prime minister. So strong is the Modi magic in India that it has swept the Indian National Congress party, the principal opposition party, to India’s political fringe.
Every business owner dreams of doing a Modi in his chosen field of work. Like PM Modi, being a competent business person is not enough to win in India’s markets. What is needed is dominance. A quality Modi has.
To do this, you need to employ his marketing mantra of E.S.C.R.O.W. (read more about this at http://wp.me/p6tQjj-3o)
The first letter E stands for EMPATHY. In today’s blog post, I will explain how a business person can employ Empathy like Modi does, to telling effect.
Empathize means to understand and share the feelings of another.
Modi sees voters not just as poll constituents who are to be sermonized & then be taken for granted later. He is able to create a strong connection between his audience and his personal brand. He does this by creating programs that serve the audience needs and addresses their biggest pain points. And he creates these types of programs by informing & driving them with empathy.
Case in Point:
Pradhan Mantri Ujjwala Yojana (PMUY) is among the most successful social-sector projects of the Narendra Modi-led government. The program has achieved its target to give cooking gas connections to 15 million families in 2016-17. The scheme is followed by the success of ‘Give it Up’ campaign launched by the petroleum ministry through which 10.5 million people gave up their LPG subsidy.
Gathering impetus from PMUY scheme, the government has added 20.5 million LPG customers this year. In the past two-and-a-half years, the government has been successful in adding 60 million LPG connections, while in the 60 years before that, only 130 million connections were added.
Numbers apart, this program is a latent exercise in social engineering in a country notorious for its social inertia. By freeing up women from back breaking kitchen chores and dependence on firewood as cooking fuel, the Prime Minister has not just emancipated the female gender in rural India, he has given Indian women what they most yearn for. Dignity in the kitchen and time of their own! How could PM Modi do this? He empathizes with women. As a young man, he would often help his mother in the kitchen and he knew the difficult time women endured in there, for better part of the day. By providing poor rural women FREE cooking gas in their own homes (many of whom could not even dream of such a ‘luxury’), he has earned a place in their hearts. Like many women in India say, “Humein Modiji se lagaav nahin hai. Hume unpar shraddha hai (We are not ‘fond’ of Prime Minister Modi. We repose our ‘faith’ in him)”. Who do you think will win the women’s vote in the polls? Duh!! With half the voting population rooting for him, this is stupendous market coverage! And remember, women are past masters at Word of Mouth marketing.
Source : Pinterest
To replicate this success in business, entrepreneurs have to be relentlessly consumer focussed. How many times have you heard this before? How often do you do this?
Modi-fied questions businesses need to ask themselves:
- Do you understand your audience? Can you create a profile of your typical customer?
- Can you connect with them on a deep, intuitive level? Can you translate that connection in terms of money?
- Do you really know what your customers want? Do you really know what your customers need? Do you know why?
- Do your marketing efforts strongly project an innate understanding of your customer? How do you measure such marketing successes?
- Will your perfect client/customer come to your website and say, ‘Hey this guy is talking to me?’ Will your mobile business app be adopted by her?
Write out your answers to these questions. Be brutally honest with yourself. Or else, your customers will be! Revisit these questions every quarter. And learn from your customers, like PM Modi does.
If your answers are not convincing enough or if you aren’t sure the answers are correct, do not hesitate to undertake Market Research. It can make all the difference between your market credibility and market disappearance!
For any Market Research activity in India, and consequent strategic marketing advice, please do not hesitate to contact me. Visit my website http://cobblestonesconsulting.com for more details.
There was a time when strong, sexy ad campaigns would move Indians to buy from their ego place. But today, most Indian consumers have to be careful with their spending and only a strongly demonstrated understanding of their feelings and life/business circumstances will inspire them to pull out the wallet. As businesses learn to embrace these right-brained, empathy-driven marketing tactics, consumers in India are also learning; they keep their eyes open for the brand that understands them the best.
This is why Modi wins the ballot even before the votes are cast!
The title Consultant sounds pretty glamorous by itself, and Marketing Consultant – that is positively exotic! Be rest assured this is one job that really needs innovation, planning and hard work all in one. And this isn’t phaff, there are numbers delivered to show accountability.
Let’s take a look at some of the things you would have a Marketing Consultant do for you besides filing invoices.
Know the person
Catching up on the making of a marketing consultant is a good way to understand the potential benefits of hiring one. When sitting across with a Marketing Consultant, know that you are looking at someone of course has several years of experience in the field. You can count on an exposure to a variety of products, company sizes and customer segments. This brings in a wider perspective and an objective viewpoint, with reference your business. You have an expert listening in. The offerings may range from specialist services, project management to strategic thinking.
The value addition
Broadly a marketing consultant is looking at sorting out your marketing operations to improve and sustain profits. This can be done through various paths.
- Solutions to increase customer base: The loyal customer who shops frequently with you is the comfort zone. However, there is wisdom is bringing in new customers from different areas and categories. A consultant will advice different options, try them out and tweak them for optimal results. There would be means to develop customer relations for the long term.
- Create or review marketing campaigns: Marketing consultants will get customer feedback and brand association created by your marketing materials or campaigns. This is more than advertising and promotions. It is about the effect of your message that sticks and creates the desired impression.
- Brand creation and management: The image of your company, product and services are your brand image. Adding association in the customer’s mind is an exercise of psychological subtleties worked with tools like marketing messages, graphics and more. Your marketing consultant will help you bring in associations of credibility ensure the correct message is being sent out through your communications.
With the different levels of services offered, do be sure you are defining your needs clearly. Be prepared to talk about your business openly to your consultant, who is bound by confidentiality. Shop well for consultant for best return on investment.