Sunday Showcase
New marketing sh*t again..
MARKETING NEWS AND UPDATES
1)Sponsoring the OLYMPICS
The Indian Olympic Association (IOA) has secured a significant sponsorship revenue of approximately Rs 50 crore for the Paris Olympics, marking a substantial increase from the Tokyo Games, where the revenue was around Rs 24 crore to Rs 28 crore.
This represents a remarkable 2,000% growth from pre-Rio 2016 levels. Major sponsors and brands involved include Reliance Foundation, JSW, Yes Bank, Ebco, Puma, Adani Sportsline, and Aditya Birla Capital. Additionally, the IOA has partnered with various brands for talent endorsements, such as Domino’s, Adidas Global, Nike, Asics, RBL Bank, Amrutanjan, OnePlus, Red Bull, Bisleri, Britannia, Royal Enfield, Nothing Tech, Herbalife, Puma, and Evocus. These deals not only involve financial commitments but also encompass a variety of activations, including TV, digital, print, outdoor hoardings, and events, which are expected to have a total association value of around Rs 200 crore to Rs 250 crore.
2)Indian Marketing Awards
Sudhir Sitapati to Chair Indian Marketing Awards
Sudhir Sitapati, the Managing Director and CEO of Godrej Consumer Products Limited, has been appointed as the chairperson for the upcoming Indian Marketing Awards.
In his role, Sitapati will oversee the judging process and selection of winners across various categories that recognize excellence in marketing campaigns, strategies, and innovations.
Sitapati is an experienced FMCG executive, having previously held senior leadership positions at Unilever, including Executive Director and Vice President of Foods & Refreshment. He is also the co-chair of the CII National Committee of Food Processing and a past co-chair of the FMCG Committee.
The Indian Marketing Awards are a prestigious platform that celebrate the best marketing work in the country. Sitapati's appointment as the chairperson underscores his industry expertise and reputation as a marketing thought leader.
Under his leadership, the awards are expected to further raise the bar for marketing excellence and showcase the innovative strategies adopted by brands to engage with consumers.
3)Dil Se, Design Tak
Canva Launches "Dil Se, Design Tak" Campaign in India
Canva, the popular visual communication platform, has unveiled its first-ever brand campaign in India titled "Dil Se, Design Tak". The campaign aims to empower Indian users to unleash their creativity using Canva's user-friendly tools suitable for all skill levels.
The campaign highlights the power of using Canva to transform ideas into reality, encouraging individuals and businesses to create designs for work and life. It showcases how Canva's platform enables users to design with ease, from conceptualization to execution.
Through "Dil Se, Design Tak," Canva aims to inspire and support the creative aspirations of Indians, empowering them to express themselves visually. The campaign emphasizes Canva's commitment to democratizing design and making it accessible to everyone, regardless of their design expertise.
With its vibrant visuals and relatable messaging, "Dil Se, Design Tak" is expected to resonate with Canva's growing user base in India and further solidify the platform's position as a go-to tool for visual communication and creativity.
EXPERT INSIGHTS
Philip Kotler this week 😉
Philip Kotler, widely regarded as the "father of modern marketing," has provided invaluable insights on the evolving nature of marketing over his distinguished 40-year career.
In his book "Marketing Insights from A to Z," Kotler predicts that marketing techniques will require a complete overhaul in the coming decade. He believes the future of marketing lies in company-wide initiatives, rather than relying solely on a single marketing department.
Kotler emphasizes the need for marketers to adapt to rapidly changing market and consumer realities. He argues that marketers must move beyond just selling products and instead focus on designing holistic marketing strategies encompassing branding, customer service, advertising, and public relations.
Some of Kotler's key insights include:
Branding
Kotler stresses the importance of building strong, differentiated brands that resonate with customers. He advises companies to invest in creating a unique brand identity and personality to stand out in the crowded marketplace.
Customer Relationship Management (CRM)
Kotler highlights the growing significance of CRM, urging companies to deeply understand their customers' needs and preferences in order to deliver personalized experiences and build long-term loyalty.
Innovation
Kotler emphasizes the need for continuous innovation, not just in products but across all aspects of the business. He believes companies must constantly seek new ways to create value and meet evolving customer demands.
Positioning
Kotler's concept of positioning underscores the importance of carving out a distinct, favorable place in the minds of target customers through strategic messaging and differentiation.
Technology
Kotler recognizes the transformative impact of technology on marketing, encouraging companies to leverage digital tools and data-driven insights to enhance customer engagement and marketing effectiveness.
Kotler's visionary insights have helped shape the modern marketing discipline, and his work continues to guide marketers in navigating the rapidly changing business landscape.
CASE STUDY
Reviving YourAccountant's Declining Fortunes
Background
YourAccountant is an established provider of accounting software, but has been struggling with declining revenue and profitability in recent years. The company's marketing and sales efforts have been largely ineffective, leading to a steady loss of market share to competitors.
Challenges
- Outdated and ineffective marketing strategies: YourAccountant's marketing approach has remained stagnant, relying on traditional advertising channels with little focus on digital and content-driven strategies.
- Weak brand positioning: The company's brand lacks a clear and compelling value proposition, making it difficult to differentiate from competitors.
- Inefficient sales processes: The sales team is underperforming, struggling to effectively engage and convert potential customers.
- Lack of customer-centric focus: YourAccountant has not invested enough in understanding its target audience and their evolving needs.
Budget and Constraints
- YourAccountant has a limited marketing budget of ₹20,00,000 for the upcoming fiscal year.
- The company is facing pressure from investors to show immediate results, limiting the ability to invest in long-term marketing strategies.
- The internal marketing team is small and lacks expertise in digital marketing and content creation.
Question
As a marketing consultant, how would you help YourAccountant revive its declining fortunes and increase revenue and profit? Develop a comprehensive marketing plan that addresses the challenges and constraints faced by the company, while ensuring a customer-centric approach and sustainable growth.
Your marketing plan should include specific strategies, tactics, and key performance indicators (KPIs) to measure success. Additionally, provide a timeline for implementation and a breakdown of the budget allocation.
Email us your Solution with proper graphs, charts, data and other necessary stuff in the format of a PDF to theadvertisersalmanac@gmail.com .
The winner is going to get a chance to join The Advertiser’s Almanac Team.
CREATIVE CAMPAIGN
Pepsi's "Scary Halloween" Ad Featuring Coca-Cola Cape
In a playful jab at its longtime rival Coca-Cola, Pepsi launched a Halloween-themed social media campaign that featured a Pepsi can dressed in a shiny red cape resembling Coca-Cola's iconic branding.
The ad, which was posted on Pepsi's Facebook and Twitter pages, carried the text "We wish you a scary Halloween!" The intention was to suggest that being associated with Coca-Cola for Halloween would be considered "scary" by consumers.
While the concept was not particularly strong, the ad did manage to grab attention and generate a response from Coca-Cola fans. One fan created a rebuttal image that read "Everybody wants to be a hero!" - implying that the Pepsi can was not wearing a "scary" cape, but rather trying to emulate Coca-Cola's heroic brand image.
This exchange highlights the risks and rewards of using a competitor's branding in advertising. While it can be an effective way to generate buzz and engage consumers, it also opens the door for potential backlash if the execution is not carefully considered. Ultimately, Pepsi's campaign demonstrated the power of brand advocacy, as Coca-Cola fans rallied to defend their preferred soda brand.
MARKETING BOOKS , TOOLS AND OTHER RELEVANT STUFF
BOOKS
1)Way of the Wolf: Straight Line Selling: Master the Art of Persuasion, Influence, and Success - https://amzn.to/3zFT0Tz
"Way of the Wolf: Straight Line Selling" by Jordan Belfort is a book that aims to teach readers the art of persuasion, influence, and success in sales. Belfort, known as the "Wolf of Wall Street," shares his proven techniques for effective selling, known as the "Straight Line" method.
The book delves into the psychology behind successful persuasion, exploring how to leverage cognitive biases and influence the decision-making process of potential customers. Belfort provides a step-by-step guide on building rapport, handling objections, and closing deals using his Straight Line system.
Through real-life examples and Belfort's own experiences, the book equips readers with the skills to become master persuaders, whether in sales, negotiations, or any other aspect of life where influence is crucial. "Way of the Wolf" promises to transform readers into confident, charismatic, and highly effective communicators, capable of achieving their goals through the power of persuasion.
2)The Psychology of Selling: How to Sell More, Easier, and Faster Than You Every Thought Possible -https://amzn.to/3W5ABXE
"The Psychology of Selling" by Brian Tracy is a renowned book that delves into the psychological principles behind effective selling. Tracy, a legendary sales professional, shares his insights and strategies for salespeople to sell faster, easier, and more successfully than ever before.
The book explores the inner game of selling, emphasizing the importance of a salesperson's self-concept and mindset. Tracy explains how small differences in ability can lead to significant differences in sales results, and he outlines the key result areas that salespeople should focus on to improve their performance.
Additionally, the book covers techniques for overcoming sales resistance, understanding different buyer personalities, and closing deals effectively. Tracy's approach is grounded in the psychology of human behavior, helping salespeople develop a deeper understanding of what motivates and influences their customers.
"The Psychology of Selling" is considered a must-read for sales professionals across industries, providing a comprehensive framework for mastering the art of persuasion, influence, and sales success.
TOOLS
1)Trello - https://trello.com/
Trello is a popular web-based project management and collaboration tool that uses a kanban-style board system to organize tasks and workflows. It allows users to create boards for different projects, add lists to represent stages of a project, and cards for individual tasks. Users can assign members, set due dates, add attachments, and leave comments on cards to facilitate teamwork. Trello's intuitive interface and flexibility make it suitable for various applications, from personal to-do lists to complex business projects. With its mobile accessibility, automation features, and integration with other tools, Trello helps individuals and teams stay organized, prioritize work, and improve productivity.
2)Hotjar - https://www.hotjar.com/
Hotjar is a comprehensive user experience insights platform that provides visual behavior analytics, user feedback tools, and user research capabilities in a single solution. Through features like heatmaps, session recordings, conversion funnels, and feedback widgets, Hotjar helps businesses understand how users interact with their websites and digital products. By connecting the dots between what users do and why, Hotjar empowers organizations to make data-driven decisions that optimize the user experience and drive business growth. With its intuitive interface and wide range of integrations, Hotjar has become a go-to tool for marketers, designers, and product teams looking to gain deep, actionable insights about their customers.
