Bhargab Dutta, Colgate-Palmolive, Marketing & Advertising News, ET BrandEquity & More Latest News Here – Up Jobs

In conversation with ETBrandEquity, Colgate-Palmolive’s head of digital and analytics, Bhargab Dutta shared how deploying different martech solutions helped the brand to rightly identify market size, optimise marketing spend and eventually improve supply chain efficiency.

Edited excerpts –

1) What are your observations on how the Martech universe/ecosystem has evolved to what it is today, versus just a couple of years ago.

To understand the evolution of Martech closely in the last two years, the first thing I’d highlight is- the ability to scale personalisation with great granularity.

A few years ago, while targeting marketing and branding engagement, most of our personalisation scope was restricted to an area level customer/consumer demographic. Today, we have the ability to extend this personalisation to a road level demographic.

This is possible due to improved processing ability of data consumption and insight generation solutions. Especially for most major urban localities in India, today I know whom to target vis a vis a specific product that has high relevance to a set of people residing on one side of the road, and not to target the ones on the other side of the road – that money can be used to target people from next the block or three blocks after the current one and so on. So, in summarising this Martech ecosytem evolution, two areas are key – one is enhanced abilities in social listening and therefore improved ability for granular personalisation.

2. What have your initial MarTech experiments taught you, based on trial and error?

I can quote an example from my earlier work a few years ago. We did one initial A/B testing with a target audience for a particular food product which we found suitable for the summer season. However, we discovered an interesting trend of high demand during the month of Jan next year- this was a surprise and led to a stock-out situation. Then we deployed our social listening tech to understand the reason.

What we found was that- while doing our initial A/B testing, we underestimated the importance of one attribute of the product- people’s perception towards its health benefits. The finding was- in addition to the summer season, due to the new year resolution of being healthier, people suddenly felt the need for that product in their diet plan.

From this learning, in the next phase we redesigned our influencer and marketing campaign actions along with consumer targeting strategy through our CRM tech. Additionally, we understood that there is a significant health-conscious consumer base available, we re-optimised our SEO tool linking with consumer targeting solutions- largely leveraged by Google Analytics offerings. With all these solutions working in tandem, we were able to rightly identify market size, optimise our marketing spend and eventually improve supply chain efficiency,

3. When it comes to MarTech, what kind of challenges have you faced in more recent times, and how have you been navigating through them?

Since the pandemic period kicked in, two major needs have appeared for every business. One was how to conduct business in a safe way, and the other was how to navigate through inflationary measures.

To address these above, two critical technologies played important role:

a) Evolution and adoption of metaverse based technologies- that brought all sales and marketing activities closer to the consumer in a safe environment which can be curated at individual level

b) Adoption of predictive Control Tower based technologies that will detect consumer behavior, sales trends and supply disruptions proactively- thus helping to create a mitigation plan.

However, one key challenge here is- to select the right technology/ solution providers

3. The solutions landscape is rapidly expanding. What is your checklist here?

Yes, with so many players available globally and locally, I generally take the following pointers into account while finding the right partner

-Experience in the Indian business environment
– Ability for rapid prototyping and then to scale up
– Specifically for consumer behavior tracking- ability of the partner to mine insights from diverse linguistic profiles we have in India

Good thing nowadays is that- our start-up ecosystem in India is very much robust. With some right amount of effort, we will be able to identify the right technology partner for most of our needs. One key point we should keep in mind while selecting the right technology partner- always keep a buffer for future need in terms of data ecosystem, processing power and horizontal scale up.

4. Overall, what are your views on how Martech can accelerate the path to achieving marketing goals today? What excites you about the road ahead?

Martech is still evolving and we need to keep pace with it- in our day-to day operations and future innovations. One should remember- like me, my competitor is also exposed to the same tech ecosystem- it might be just a first mover’s advantage that we have.

The road ahead is both exciting and challenging. Exciting because the Martech ecosystem is definitely evolving at a faster-than-ever pace, but also challenging because the world is going through numerous black swan events. How we adopt to this evolution, and maintain balance with these challenging dynamics, will make the difference between being seen as a successful MarTech adopter versus falling for technology hype.

Click here to check details about Martech Asia 2022 Summit
–

I have tried to give all kinds of news to all of you latest news today 2022 through this website and you are going to like all this news very much because all the news we always give in this news is always there. It is on trending topic and whatever the latest news was

it was always our effort to reach you that you keep getting the Electricity News, Degree News, Donate News, Bitcoin News, Trading News, Real Estate News, Gaming News, Trending News, Digital Marketing, Telecom News, Beauty News, Banking News, Travel News, Health News, Cryptocurrency News, Claim News latest news and you always keep getting the information of news through us for free and also tell you people. Give that whatever information related to other types of news will be