Prateek N. Kumar https://prateeknkumar.com Meandering Memorylanes Wed, 18 Sep 2019 12:18:37 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 From DLF to Vivo, here’s how IPL’s sponsorship story has changed in last 11 years https://prateeknkumar.com/dlf-vivo-heres-ipls-sponsorship-story-changed-last-11-years/ https://prateeknkumar.com/dlf-vivo-heres-ipls-sponsorship-story-changed-last-11-years/#respond Wed, 18 Sep 2019 12:18:18 +0000 http://www.prateeknkumar.com/?p=705 With the rise in viewership of the league, sponsorship rates have also gone up.

The razzmatazz and money associated with the Indian Premier League has been well documented and the title sponsorship of the event is an indicator of the eye-popping valuation the franchise-based league enjoys. From Rs 200 crore to Rs 2,199 crore, the title sponsorship fees for the league has seen an exponential growth.

Talking to Moneycontrol, Prateek N Kumar, CEO and MD, NeoNiche, an experiential and digital marketing company, said this eleven fold increase has coincided with the massive growth seen in mobile data infrastructure.

Along with the growth in fees, the cricketing event has also seen more brands interested in getting the title sponsorship deal. Companies as diverse as DLF, Pepsi and Vivo (present sponsor) have been associated with the event as the title sponsor.

“DLF was almost synonymous with the IPL in the initial years. With a large audience and viewership across the country, DLF asserted itself as a trusted brand among the Indians,” said Kumar.

But “during this time period (2008-2012), the company witnessed a downturn in sales and was looking to reduce its debts (approximately Rs 227 billion) by selling various assets in March 2013. So, they went against renewing the deal,” Kumar added.

In came Pepsi but its association with the cash-rich league did not prove to be beneficial for the brand.

When IPL got mired in the match fixing controversy in 2013, it resulted in negative publicity for the league.

“The Rs 3.96 billion (Rs 396 crore) deal with Pepsi signed in 2013 was almost double of the first 5 seasons before Pepsi reportedly pulled out of the 5-year deal in October 2015 and paid only Rs 2.38 billion (Rs 238 crore) for the 3-year sponsorship deal because of the substantial controversy involved in the match-fixing scandal,” he said.

Later, the Board of Control for Cricket in India (BCCI) transferred the sponsorship rights to Vivo for Rs 190 crore for the 2016 and 2017 seasons before going on to seal the rights with a winning bid of Rs 2,199 crore for the next five seasons.

Brands like Zeven, Performax, Daikin and Rupa, who are looking to expand their presence in the Indian market, are currently driving the sponsorship market. Earlier, companies like Hero MotoCorp, Panasonic, Fly Emirates along with more consistent sponsors like Reebok, Adidas, Royal Challenge, India Cement and Nokia drove the sponsorship market.

According to Kumar, earlier brands were either international or domestic leaders in their industry but the current trend seems to be pursuing a new norm.

“Companies with a rich-heritage are often considered the most trustworthy and dependable brands. However, the brands driving the current sponsorship environment are focused on improving their brand image and reach to establish themselves among the local people,” he explained.

The sponsorship game for IPL has seen a sea of change. This year, many new companies have come on board but Kumar said that brands should take a closer look at their target market and region to identify the best way to optimise ROI . If planned well, brands can look at sponsoring on an OTT platform that is region-specific to reach their target audience.

Also, with the rise in viewership of the league, sponsorship rates have also gone up.

“Legacy brands can afford to be sponsors but startups and tech-based companies with low profit margins companies such as GoIbibo, Karbonn, Oxigen wallet, etc, will find it to be a pinch in terms of their marketing budget,” he said.

Over 100 brands have been associated with the IPL over the years but very few companies have stayed around for a long duration.

“IPL sponsors mainly come in the form of title sponsors and team sponsors (visible through branding on the front, back and sides of jerseys). Mostly due to the extravagant amount of marketing required for a campaign, companies have found it difficult to utilise their marketing budget on other activities,” said Kumar.

Brands like Reebok, Adidas, Aircel, Nokia, UltraTech Cement, India Cement, Gulf Oil, Royal Challenge, DHFL and Videocon D2H are some companies who have been associated with the IPL for over seven years.

This year, according to Kumar, the “main differentiator is the availability of OTT advertisements in regional languages, which will help brands reach their target markets more effectively.”

 

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Emotions play key role in a consumer’s brand choices: Experts https://prateeknkumar.com/emotions-play-key-role-consumers-brand-choices-experts/ https://prateeknkumar.com/emotions-play-key-role-consumers-brand-choices-experts/#respond Tue, 21 May 2019 11:13:09 +0000 http://www.prateeknkumar.com/?p=699 Industry experts talk about brands such as Tata Sky, Horlicks and Cars24 tapping the emotional quotient, how it boosts sales, and the demographic research needed to put together such campaigns

Brands today have been increasingly taking the emotional route to touch the hearts of their consumers. From Horlicks’ ‘Mother-and-child bond’ advert to the one for Cars24, the narratives have been driven with sentimental value.
We, at exchange4media, spoke to brands to understand as to how the idea has helped them engage more consumers. Does making emotionally stirring adverts help in the sale of products and what demographic research does go into such campaigns?

The Emotional Route 
Brand experts believe that tapping onto the emotional quotient helps in establishing a long-lasting connect with the consumers. According to Valay Lakdavala, Director – Client Relations, NeoNiche Integrated Solutions Pvt. Ltd, research has shown that an advertisement that was partially focused on ‘emotional content’ vis-a-vis ‘rational content’ was twice as effective (31 per cent to 16 per cent) and content which was fully focused on emotions vis-a-vis a partially focused advert did even better (31 per cent to 26 per cent). The primary reason for effectiveness being that the human brain processes emotions easily and remembers them longer than facts, Lakdavala said.

The emotional response of the audience to an advert makes the product likeable. One of the measures to ascertain if an advertisement will increase a product’s sales is likeability. However, it is very important for brands to weave the emotions around the understanding of the consumer motivations, Lakdavala added.

What do brands have to say?
Anurag Kumar, Chief Communications Officer, Tata Sky, said emotional connect helps drive a brand’s reliability. “We strongly believe emotions play a vital role in a consumer’s brand choices. It has been proven that brand building though emotional connect drives brand reliability in the long term. It is human tendency to choose products and services that have effective emotional advertising. It is true for soft drinks, ice-creams, jewellery, snacks, and equally on content distribution platforms like Tata Sky,” Kumar said.

Taking the emotional route helps a brand achieve positive customer engagement, says Vikram Bahl, Area Marketing Lead, Nutrition & Digestive Health, GSKCH Indian subcontinent.

“Emotions play an important role in the decision-making of consumers during exams as kids face immense pressure. For us, the insight was how mother’s love is the best dose of emotional nutrition and this has helped in connecting with the target audiences in a deeply personal and human way. Moreover, it has also cultivated a true brand loyalty and a positive customer engagement,” said Bahl.

According to Gajendra Jangid, Co-Founder and VP, CARS24, “With the understanding of the emotional connect that people have with their cars and how the brand resonates with the feeling of the consumers, CARS24 has focused on driving the conversation around how selling a car can be a memorable experience instead of just being transactional.

Boost to sales 
“Emotional advertising helps encoding of brands in long-term memory. Brand recall and brand relatability are the pillars of success for any brand like Tata Sky. Since emotions are fundamental to humans, using emotional communication has helped Tata Sky connect with customers across regions, age group and gender. Our advertising has typically relied on the following core human emotions: Trust, Happiness, Family, Fun and Love. We have repeatedly seen success of emotional advertising in driving sales and business numbers,” Kumar said.

As per Bahl, emotional storytelling is a well-established route for driving persuasion and consumer consideration. “In our category, driving consideration for the product has a direct link to sales. So without at least a touch of emotion, you’re not likely to get people to watch or read, and certainly not buy. Campaigns with an emotional aspect help us build a long-lasting relation with the consumer rather than companies just selling the product to them.”

Demographic research 
Quantitative as well as qualitative research with existing subscribers and potential users not only helps in gathering insights on improvements needed, but also helps in building and planning campaigns and offerings, say experts.

“In case of the ‘Horlicks Bottle of Love’ campaign, our target audience were children and the insight was how students battled immense pressure during exams, and the need for emotional support. This helped us in the demographic research that was required for our campaign,” Bahl said.
For Horlicks, millennials form a very significant part of the mix of campaign, planning and being the ‘always connected generation’ and no brand can ignore the dynamism of this consumer group. “India will have approximately 410 million millennials by 2020, who will spend $330 billion annually,” says Bahl.
In case of CARS24, Jangid says, the brand typically does market research to understand the content consumption and mindset of potential car buyers and sellers. “Our target audience for this research is typically any car owner (aged 30-45) primarily from top cities. The demographic research’s focus is to understand the brand perception of the audience in the category,” he added.

Social media and digital 

Meanwhile, social media platforms and digital marketing are becoming increasingly important for reaching out to the consumers. While Horlicks has increased their spends nearly six times in the last five years to activate social platforms in order to optimise the reach of the brands,  in case of Cars24, branding for digital mediums is still in the evolutionary phase and there is a plethora of options for a brand to test out this medium.

“Our current selection of digital channel depends on the reach it can deliver. From our past experiences, we usually keep 10-20 per cent budget for these platforms,” Jangid said.

 

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NeoNiche appoints Vivek Pandey as VP-Business Development https://prateeknkumar.com/neoniche-appoints-vivek-pandey-vp-business-development/ https://prateeknkumar.com/neoniche-appoints-vivek-pandey-vp-business-development/#respond Mon, 15 Apr 2019 10:45:48 +0000 http://www.prateeknkumar.com/?p=695 He has led senior management positions with events and exhibitions agencies such as Imagination, Showtime, 70 EMG, Saltxp and Meroform in India

Integrated experiential communication agency NeoNiche Integrated Solutions Pvt Ltd has appointed Vivek Pandey as Vice President to lead new business initiatives and special projects. Pandey will work closely with the management board to help identify new markets and strengthen the offering on experiential marketing platforms.

With a mechanical engineering background, Pandey chose to pursue design and communication. He has led senior management positions with events and exhibitions agencies like Imagination, Showtime, 70 EMG, Saltxp and Meroform in India.

With his unmatched expertise in successfully developing large business accounts especially in the automobile sector and managing diverse teams, Pandey established The Imagination Group, a global experiential marketing agency in India. He has professionally managed large auto shows on brands like Ford, JLR and others.

Speaking on Pandey’s appointment, Prateek Kumar, CEO & MD, NeoNiche Integrated Solutions said, “At NeoNiche, our focus for last couple of years has been on few growth sectors and automobile is one of them. We further wanted to expand and strengthen our leadership team for the same with someone who is not only highly experienced and exceptionally good in managing events but also carries a lot of credibility among clients and partners. Our search concluded on Vivek as his portfolio of experience includes exposure to various markets and industries especially Auto Industry, I am sure Vivek will successfully lead his team to add value in this space.”

Commenting on his appointment, Pandey recounted the words of Ratan Tata saying, “A promise is a promise. When Ratan Tata said this magical line from the stage almost a decade before, it wasn’t just his emotions but also the bridge that connects a brand with its stakeholders. This single line has been my inspiration mantra all along. I was looking to work with a company that is truly unique in offering best business practices to its clients and nurses a great work culture for its employees. NeoNiche has that perfect blend. Leadership that is focused towards its commitment and hones its employees’ talents builds great brands.”

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IPL 2019: Tech brands optimise ad slots to drive digital interactions https://prateeknkumar.com/indian-premier-league-ipl-growing-every-iteration-inception-2008-become-one-celebrated-twenty20-match-formats-india-biggest-pla/ https://prateeknkumar.com/indian-premier-league-ipl-growing-every-iteration-inception-2008-become-one-celebrated-twenty20-match-formats-india-biggest-pla/#respond Sat, 06 Apr 2019 11:22:28 +0000 http://www.prateeknkumar.com/?p=702 More than 60 per cent ads on TV and OTT platforms are tech ads.

The Indian Premier League (IPL) has been growing with every iteration from its inception in 2008 and has become one of the most celebrated Twenty20 match formats in India. With some of the biggest players in the world joining in with local up-and-coming talent, the IPL has garnered both Indian and international audiences. According to BARC data, the first three games of IPL 2019 witnessed a 31 per cent surge in viewership as compared to last year.

This massive audience can be the perfect opportunity for brands to position themselves and maximize their reach. Since we’re in the age of analytics, it would be a crime to leave out social media stats as well. In the month building up to IPL 2019 (20 February – 21 March), there were a total of 73,400 mentions and in terms of pure mentions across platforms and engagement stands at a whopping 1.1 million according to Talkwalker, a prominent social media analytics company based in Luxembourg.

So when it comes to India, one thing to keep in mind is that cricket has no language. It’s our nation’s favourite and most popular sport. In terms of revenue generating potential, Star India Pvt Ltd understood the capabilities and won the rights to the IPL. Last year, Star India aired the IPL final in eight languages across 17 channels.

According to the BARC data analysed by Insidesport.co, 22 per cent of the viewership for IPL has come from regional language feeds. These statistics establish how Star India has been able to expand into, and open regional markets well than previous IPL seasons on the Sony Pictures Network.

In fact, it is such a big opportunity for advertisers that Star TV has requested permission from the BCCI to broadcast political advertisements during the telecast of the games. While the IPL takes place from 23 March to 19 May, Lok Sabha elections are scheduled between 11 April and 19 May. For many political parties, this is a one-of-a-kind opportunity to connect with voters all across India.

Coming back to brands and advertising, another aspect to consider is the evolving arena. Consumers are now watching IPL content on OTT platforms such as Hotstar, SonyLiv, etc. Star India said it would offer targeted ads on its video streaming platform – Hotstar for IPL 2019.

As the viewing experience has diversified, advertisers are also changing their focus by using analytics to reach their TG with more relevant content. Broadcasters are increasing their efforts to take advantage of regional markets by targeting demographics on different platforms with different content as well.

But purchasing ad space during the IPL is not for every advertiser. Only the most successful and premium brands are able to buy the coveted space of 10-20 seconds. So in turn, the question doesn’t come down to national or local advertisers but rather tech brands and non-tech brands.

A majority of ads during the IPL (more than 60 per cent ads) on TV and OTT platforms are tech ads. Companies like Swiggy, Paytm, Netmeds and Make My Trip utilise these ad slots on mainstream media to drive interaction their own digital platforms.  

Another key factor when it comes to advertising is actually the year. The ICC World Cup will also take begin in May 2019 and hence ads on the IPL and World Cup 2019 may be seen as a double-edged sword. If well strategised, brands can take advantage of the opportunity to gain maximum traction during these mega events. On the other hand, if unplanned, ad budgets are likely to dwindle leaving sub-standard visibility during only a single event.

For brands not considering a direct tie-up with broadcasters, IPL fever can still be used to your advantage. If budgets are low, consider piggybacking on hashtags and contests to increase visibility and engagement. If adequate budgets are available, on-ground activations at stadiums can be a gold mine creating buzz amongst the attendees and connecting with your audience on a one-to-one basis.

Similar to the IPL teams competing against each other, brands are starting to compete against each other for ad slots. Being one of the biggest opportunities to reach audiences across the country, brands are likely to bid against one another for a coveted piece of the IPL pie.

(The author is CEO and MD at NeoNiche. The views expressed are his own and Indiantelevision.com may not subscribe to them.)

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Blame the name https://prateeknkumar.com/blame-the-name/ https://prateeknkumar.com/blame-the-name/#respond Fri, 29 Mar 2019 08:41:45 +0000 http://www.prateeknkumar.com/?p=690 The recent controversy and furore over Surf Excel’s Holi advertisement had Microsoft Excel bearing the brunt of social media trolls and attacks. Netizens confused the two brands despite them existing for decades and operating in distinctly different segments.

Two years ago, certain comments by Snapchat CEO Evan Spiegel on India had social media aficionados not just trolling Snapchat, but also the e-commerce site Snapdeal. Almost a decade back, controversial ads by the innerwear brand Amul Macho had consumers confused and outraged over why dairy giant Amul had to sell innerwear and resort to cheap theatrics.

Brand confusion in consumers’ minds is rampant and impacts brands in multiple ways.

According to CompuMark, an agency for trademark research and protection, almost 74% of brands globally have experienced some form of trademark infringement due to the existence of other brands with names that sound similar. CompuMark estimates show that 44% of brands that have encountered trademark infringement have identified customer confusion as the biggest after-effect, while 40% have spoken of revenue loss. In this day and age of social media, this loss is immense.

“Amul had to face challenges when Amul Macho was launched. This creates ambiguity in consumers’ minds. Frustration and confusion of consumers, loss in brand loyalty and effect on brand recall are other factors that impact a brand. The confusion happens as Indian consumers get easily swayed away by emotion and the understanding of the brand identity is low. Being emotionally swayed can cause a rage on social media,” says Saurabh Pacheriwal, co-founder, Gemius.

When hashtags reign supreme, similarity in brand names often gives way to hashtags trending for the wrong brand, causing a big drop in the image, says Ashish Shah, founder and CEO, Vertoz.

According to Prateek N Kumar, CEO and managing director, NeoNiche, what lies at the centre of such controversies is the innate fear of missing out (Fomo). “Usually, someone starts the topic with a trending hashtag, fact-checking takes a back seat and the wildfire creates an equivalent of internet Chinese whispers.”

Experts feel a lot of “confusion” also happens due to meme marketing tactics. “Probably, it could be that someone somewhere just wanted to have fun and started the whole thread of conversation, dragging in another brand. No one can ever clarify this. With a lot of fake content being shared, it is very quick to start and spread rumours. And when such brand confusion happens, people who are reading about it are more interested from a fun point of view or seeing how innovative the meme being circulated is,” says Sonam Shah, founder and CEO, Treize Communications.

Brands need to speak out and clear consumer doubts over their names. Brands should firstly consolidate their public image, feel experts.

“This can be accomplished by running branding campaigns and delivering the relevant brand communication to the right audience, at the right time, which improves brand recall,” says Shah from Vertoz, who adds that programmatic advertising, which relies on algorithms to purchase and sell ads real time, can be a great tool in managing ad strategies. “The specific targeting that programmatic provides can be a boon for brands to reach out specifically to the people that are most affected by the miscommunication of brand identity.”

Another way of addressing such situations is to come out quickly and build a funny brand story, feel experts.

Says Shah from Treize, “The brand (in this case MS Excel), should come up with an interesting comeback in the form of a video and join in the fun while addressing the issues. It should be a mix of both fun and education wherein they express the issue and explain the difference.”

Agrees Kumar, who feels brands need to build a funny story around their ethos and use social and traditional media to dish out this story. “MS Excel can, for example, talk about its multi-cultural background and weave it with humour by saying something like MS Excel is a good spreadsheet which can capture the misplaced statistics of this fallout with a trending hashtag of their own like #5FactsaboutMSExcel, etc.”

A customary email by the brand clarifying their position and stating that they are not under the radar can also mitigate the crisis, say experts.

BATTLING THE NEMESIS

Almost 74% – Of brands globally have experienced some form of trademark infringement due to the existence of other brands with names that sound similar

44% – Of brands that have encountered trademark infringement have identified customer confusion as the biggest after-effect

40% – Have spoken of revenue loss

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NeoNiche Integrated Solutions named India’s Best Event Management Agency https://prateeknkumar.com/neoniche-integrated-solutions-named-indias-best-event-management-agency/ https://prateeknkumar.com/neoniche-integrated-solutions-named-indias-best-event-management-agency/#respond Mon, 25 Mar 2019 08:37:31 +0000 http://www.prateeknkumar.com/?p=687 NeoNiche Integrated, India’s leading experiential marketing company was awarded as the country’s best event management agency for the year 2018, at the recently held India’s No.1 Brand Awards by IBC InfoMedia. Among the most coveted corporate awards in the country, it bears testament to NeoNiche’s commitment to delivering world-class experiences for clients.

Over the past year, NeoNiche Integrated has encompassed the entire integrated solutions spectrum. From working on experiential marketing campaigns, to events powered by technology, NeoNiche Integrated has created several memorable experiences for clients including Amazon, ICICI Bank, Siemens, and several others.

Speaking about the win, Mr. Riyaz Khambati, Head Operations Experiential Delivery, NeoNiche Integrated said, “This award is definitely well deserved, and I believe it is a result of our customer-centric approach. At NeoNiche Integrated, we always strive to ‘wow’ our clients, and have delivered events that speak for themselves. The experiential market in India is growing steadily, and such recognition from a body of repute such as IBC InfoMedia, further highlights that we are on the right path, and motivates us to work harder.”

India’s No1 Brand Awards is a flagship award series by IBC InfoMedia, (a division of International Brand Consulting Corp, USA), an independent media, global branding and brand consultancy company.

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Devotional channels see over 5-fold increase in viewership from 2016 to 2018 https://prateeknkumar.com/devotional-channels-see-5-fold-increase-viewership-2016-2018/ https://prateeknkumar.com/devotional-channels-see-5-fold-increase-viewership-2016-2018/#respond Fri, 22 Mar 2019 07:41:45 +0000 http://www.prateeknkumar.com/?p=680 The number of ad insertions, as per BARC data, has also risen with major advertisers for devotional channels being Patanjali Ayurveda Ltd, Wipro Ltd, Dish India TV and MDH Ltd

The viewership and ad insertions for devotional channels have seen a considerable increase in the 2016-2018 period, shows data from Broadcast Audience Research Council India (BARC).

In 2016, the number of devotional channels watermarked were just 3 with average weekly impressions of 22.2 million, as per BARC data, but the number rose to 11 with an average weekly impression of 97 million in 2017, and in 2018 there were 11 watermarked channels with a weekly impression of 119.8 million.

The channels taken into consideration were Bhakti TV, CVR OM Spiritual, Disha TV, Divya, Hindu Dharmam, Prarthana, SAI TV, Sanskar, SVBC, and Vedic.

Speaking on the rise in viewership of devotional channels, Arun S Nair, Vice President – Sales & Marketing (South) Insight Media City said, “The viewership rise can be attributed to two reasons. The distribution of the devotional channels has played a major role in improving their reach dramatically. Also, the deep pockets and their connect with service providers has enabled channel operators to be available on all the platforms.”

“The emotional connect with one’s religion is also one of the reasons behind the increase in viewership. In today’s fast-paced life, it is very important to connect with our culture and to gain knowledge about the customs and rituals. The devotional channels have succeeded in that by providing relevant content,” added Nair.

According to Vineet Sodhani, CEO, Spatial Access, devotional channels have grown since the Free-to-Air (FTA) boom in 2016 when many new channels were launched and many that were paid turned FTA.

“Part of the growth also happened because BARC increased the sample and covered rural or semi-urban areas better which helped in the viewership growth of many such channels,” said Sodhani.

Apart from the viewership rise, the 2016-2018 period has also witnessed a rise in total ad insertions. In 2016, the total ad insertions for devotional channels were 1,75,681; in 2017 the it jumped to 2,85,971, and in 2018 it was 3,88,273.

The major advertisers for the devotional channels include Patanjali Ayurveda Ltd, Wipro Ltd, Dish India TV and MDH Ltd.

On how advertising in devotional channels helps brands, Prateek Kumar, CEO & MD, NeoNiche said, “The content of devotional channels caters to the robust spiritual community across the globe, which experiences among other things, the live-streaming of some of the most visited religious places in India. They also participate in the actual ‘darshan’ through 360-degree videos. These channels explore the spiritual and devotional space by providing unique experiences to viewers through e-sermons, e-darshans and online offerings.”

According to BARC data, there is a growth in viewership of programmes related to yoga, meditation and spirituality, Kumar said. “There has been an increase in the number of urban youth and international followers of yoga and meditation tuning into these devotional channels. Most broadcasters and advertisers are becoming aware of this trend and brands in the area of personal care & hygiene, food & beverages, healthcare, health & lifestyle are latching on to this opportunity. What’s a better way to sell a Patanjali product to a global audience than through a TVC placed right before or after a yoga programme,” he asked.

According to Sachin Kumar, Founder, Bottle Openers, “Unlike GEC watching habits, the mindset of the audience of spiritual channels is completely belief-oriented and hence brands falling into categories like natural or herbal or Ayurvedic will have higher acceptability. One of the biggest successes we have seen in the past is Patanjali. Since spiritual channels are largely based on spiritual events, brands can turn the audience into advocates. Also, unlike millennials who get bored easily, this audience doesn’t flip through channels and hence they tend to have higher receptiveness of the communication, which helps brands.”

Talking about the other ways in which brands have been benefiting by placing ads in devotional channels, Prateek Kumar said: “Devotional channels offer a wide range of services for its audience like temple tourism, and access to japs, mantras, kathas, popular bhajans and holy books. Brands interested in target marketing, instead of trying to reach the mass market, can put their energy into connecting with a specific, defined group within that market. As per BARC, 77 per cent of TV viewers are in the age group of above 30. If segmented into right demographics, and psychographics and geography, it can help brands in cost-effective target marketing that will maximise the ROI on advertising budget since devotional channels are cheaper due to the waiver of broadcasting fee.”

Vinay Kanchan, Brand Storyteller, Innovation Catalyst and Author of ‘Sportivity’ says: “The ad rates offered by devotional channels are relatively economical. The clutter from other categories is a lot less. Brands advertising here have a stage where they can stand apart and make their point. Clients get ‘more blessings for their buck’ in a manner of speaking. Devotional channels help brands of a particular genre to truly engage their audiences. This association naturally makes sense for brands of a certain kind, especially those with strong traditional Indian roots.

“Consumers today expect their brands to mirror their own feelings and desires. Hence, for those spiritually inclined, seeing the brand on devotional channels they frequent only serves to strengthen bonds. This creates a deeper attachment which usually translates into sales. The opportunity also perhaps lies in creating specific narratives for these channels as they are unlike others in the media space in many respects. This makes sense because audiences are in an entirely different frame of mind when they switch to these channels.”

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Impact of experiential marketing on customer perception of brands: Prateek N. Kumar, NeoNiche https://prateeknkumar.com/impact-experiential-marketing-customer-perception-brands-prateek-n-kumar-neoniche/ https://prateeknkumar.com/impact-experiential-marketing-customer-perception-brands-prateek-n-kumar-neoniche/#respond Tue, 12 Feb 2019 07:18:28 +0000 http://www.prateeknkumar.com/?p=676 Guest Column: Prateek Kumar, CEO & MD, NeoNiche Integrated Solutions Pvt. Ltd tells us more about how experiential marketing can enhance customer perception and strengthen brand essence

South African billionaire Elon Musk says “Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But a brand is simply a collective impression some have about a product”. I tend to agree with Elon. Brands are people too. And just as human behaviour leaves a lot of scope for judgements from fellow humans, brands too are subjected to constantly varying perceptions and judgements. Like people who are conspicuous in their absence, these brands are easily forgotten if they are just one in the crowd of many.

Every brand comes with an intent to stand for certain qualities that need to be highlighted, Experiential Marketing is helpful in enhancing customer perception of the brand towards the qualities of the brand that we wish to project, rather than it being perceived due to uncontrolled exposure. Organisations are using experiential marketing so they can create a strong customer-brand connection and highlight desirable values that capture the brand’s essence and drive loyalty, word-of-mouth and the persona of the brand in a direction that we champion. While there is not much empirical research on the impact of Experiential Marketing, in my professional expertise in Experiential Marketing, I have understood that consumers are looking for unique and distinct qualities that will act as a key differentiator which we wish to highlight as the core perceived essence of the brand.

While traditionally the product value to the brand perception journey has been laced with product packaging strategies and pricing games, the emerging trend for competitive advantage is to put experiential marketing on the top of the game. In my opinion, consumers are now looking for an extra dose of personality that stimulates sensations and evokes emotions, rather than something that barely meets the need.

Research unravels that in experiential interpretation, the interaction between a subject (the consumer) and an object (a product, an event, a person, an idea) within a given context originates the consumption experience, and the companies benefit from this set of interactions. With the advent of social media and digital advertising, media outreach has become easy and affordable, however, every brand is looking for an extra edge to move beyond. Experiential Marketing provides that extra edge of personalisation and ensures a rounded experience.

Even in the experiential marketing sphere, we have constantly innovated over time. Traditional singular experiential marketing tools are a passé, the space now is for integrated marketing communication with a healthy mix of all media elements to drive consumer perception. Constant reinforcement of brand values through integrated approaches to experiential marketing that forms a healthy mix of digital media, print, social media and public relations, not just to complement but to enhance the desired brand value that we wish to project.

With the passage of time, our ideas are evolving into a more collaborative sphere and experiential marketing is at the helm of it. We are designing a web of experiences through experiential marketing. We need to deploy a healthy marketing mix with experiential marketing… truly, in the experiential elements space, the future is together.

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NeoNiche teams up with DG7 for their digital domain https://prateeknkumar.com/neoniche-teams-dg7-digital-domain/ https://prateeknkumar.com/neoniche-teams-dg7-digital-domain/#respond Thu, 24 Jan 2019 06:53:42 +0000 http://www.prateeknkumar.com/?p=668 Through this partnership, both NeoNiche and DG7 would be able to extend an enriched omni channel experience to a wide range of their clientele in the B2B domain

NeoNiche Integrated, an award-winning, experiential marketing company focused on leading the marketing space in India by creating clutter busting brand solutions for industries ranging from IT, Auto, BFSI, Media, PSU, and start-ups has entered into a strategic partnership with DG7, a full-service digital agency that specializes in providing B2B digital marketing solutions.

Through this partnership, both NeoNiche and DG7 would be able to extend an enriched omni channel experience to a wide range of their clientele in the B2B domain. This strategic partnership will help more than 300 brands currently catered between the two organisations.

Speaking on this partnership, Prateek N. Kumar, Founder and CEO, NeoNiche Integrated Solutions said, “We are elated about this collaboration, as it is in line with one of our key objectives of offering best-in class experiential marketing services in an omni channel environment. This will help our clients create memorable and measurable campaigns across different touchpoints for all their stakeholders.”

Speaking on this partnership, Amit Deshmukh, Founder and CEO, DG7 said, “Today, in the age of urbanization, digital marketing is not just a means to an end, it is a vital business enabler. Through our association with NeoNiche, we are scripting together a truly Phygital partnership wherein NeoNiche brings in their expertise of providing brand activation and campaign-oriented solutions. DG7 would complement the same with both, the width and depth of digital avenues to amplify these efforts. This, we believe, will result in absolute value for clients, and help them achieve their business objectives more cohesively.”

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NeoNiche wraps 2018 by bagging 2 awards at ET Now – Stars Of The Industry https://prateeknkumar.com/neoniche-wraps-2018-bagging-2-awards-et-now-stars-industry/ https://prateeknkumar.com/neoniche-wraps-2018-bagging-2-awards-et-now-stars-industry/#respond Wed, 23 Jan 2019 13:18:42 +0000 http://www.prateeknkumar.com/?p=661 NeoNiche Integrated Solutions Pvt Ltd., an experiential communications agency enfolded the year by winning 2 awards at the ET Now Stars of the Industry Awards 2018. Prateek N Kumar, CEO and Managing Director won the “Entrepreneur of the year” award and Valay Lakdawala, Director won in the category of “Marketing professional of the year”.

The prestigious awards were presented by Dr. Aquil Busrai – Chief Executive Officer, Aquil Busrai Consulting along with Ms. Nisha Jamvwal – Columnist, Luxury Brand Consultant, Television, Influencer, Blogger, Social Activist, Craft Crusader, and Accessibility Crusader.

Commenting on the achievement, Mr Prateek N Kumar, CEO & Managing Director, NeoNiche said, “This victory at the ET Now Stars of the Industry Awards is a testament of the disruptive day-to-day operations we conduct at NeoNiche. I am really proud that we concluded 2018 by winning 2 awards and would like to credit my clients and my team mates. We hope to continue our journey with the same fervour and by achieving greater milestones in 2019”

Valay Lakdawala, Director, NeoNiche said, “The financial year of 2018 has been a rather enlightening journey for all of us at NeoNiche, with over 392 campaigns that have been successfully curated for more than 60 brands. These awards will only serve as motivation to our passionate team that is working day and night, behind the scenes, and will be instrumental in providing a greater push for me to aim higher to end the year with a blast”.

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