MediAvataar's News Desk
moneycontrol celebrates 71 years of Independence by introducing ‘Financial Freedom’ Campaign
The exclusive Independence Day initiative, aims at educating and helping users become financially independent
moneycontrol, India’s leading and number one financial platform, announces its week-long campaign on ‘Financial Freedom’ in celebration of 71 years of India’s Independence. A lot has been written and spoken about financial freedom but the “How?” remains unanswered. To usher its audience on to a path where their income is always a step ahead than their spending, the platform is bringing its best financial experts and analysts to the fore.
With the nation celebrating its 71st Independence Day, the digital destination wishes for its audiences to be financially independent for the rest of their lives. Just as New Year resolutions call for turning over a new leaf, moneycontrol encourages its audience to create a plan to do away with financial dependency this Independence Day. It takes careful planning, clarity of financial goal and control of finances. The platform understands their audiences’ needs and has put together this initiative to get experts to guide them with carrying out careful planning for managing finances. This initiative helps moneycontrol take another step forward towards its mission to ‘Make India Financially Smart’.
The week-long initiative includes many activities on the platform and social media to gain an in-depth understanding of ways to achieve financial independence. The campaign gives users the liberty to chat with industry experts and chalk their personal roadmap towards financial freedom. The discussions and chats with experts will revolve around topics ranging from Mutual Fund SIP, savings and solutions to financial challenges that audiences face in their lives. Consumers can also as participate in quizzes and polls. The digital destination will also have articles and videos written by experts to enlighten consumers about practices to manage their finances better, educate children and move towards financial freedom.
Commenting on the occasion, Business Head at moneycontrol, Gautam Shelar says, “71 years of Independence has seen India come a long way. Notwithstanding the financial mess our colonial rulers left us in 1947, India’s financial performance and future outlook has only been getting better year by year and our country is marching towards realizing its true potential and improving the lives of all Indians.
With our ‘Financial Freedom’ campaign, we intend to support our audiences towards achieving independence in their lives. It is only apt that while we celebrate the 71st year of Independence as a nation, our consumers give achieving financing freedom a serious thought. With financial experts onboard, who will carry the campaign forward, our audiences can expect to gain deeper insights and expert views on future performance of India’s financial markets and help them invest wisely.”
With successful performances of their newest IP ‘MusiCom’, Red FM, India’s most awarded and largest private radio network continues to surprise the live entertainment space. RED FM worked closely with artists, brands and agencies in curating innovative properties across different domains of creative arts.
A rare mix of music and stand-up comedy with iconic band Indian Ocean and edgy comedians from Aisi Taisi Democracy, it is one of a kind endeavour from Red FM. The multi-city tour kick started from Kolkata, and travelled to Delhi, Mumbai, Chandigarh, and Bangalore and finally wrapping up in Pune.
While the satirist humor of Varun Grover, Rahul Ram and Sanjay Rajoura left the audience in-splits, the gripping music of Indian Ocean transported them back in time. As the pioneers of Indie music took the stage and started playing their much-appreciated tracks from their celebrated albums Indian Ocean, Desert Rain, Kandisa, Jhini, Black Friday and more, the crowd couldn’t stop cheering. The music festival moved from one city to another, rendering a mesmerizing experience of sharp & quick-witted humor of ATD which dwelled on political satire, cleverly questioning the status quo, often, mimicking the society’s views and opinions, along with seminal compositions of Indian Ocean that had created the path-breaking genre of fusion music in India since 90’s.
Speaking at the successful event, Nisha Narayanan, COO, Red FM said, “Our constant effort has always been to create innovative content for the RED FM fans. MusiCom has been one such effective attempt. We are very excited about the new IP of ours where we have experimented with a different content format which is etched in our DNA where our listeners get a blend of socially relevant yet entertaining comedy and soulful music together.”
Putting women on boards and in executive positions could be the quick fix that sexist Silicon Valley needs.
The tech industry is often parodied as a place for men with limited social skills. But now it’s become clear that its problems go far beyond awkward geekiness. One recent survey uncovered a “bro culture” in which well over half of women in Silicon Valley were subject to demeaning comments or unwanted sexual advances at work.
Of all the tech companies, Uber has had the worst PR of late. There had been rumblings about the behaviour of CEO and co-founder Travis Kalanick even before Susan Fowler’s blog about her year at Uber and the jaw-dropping reactions of the company’s HR department to reports of sexism in the workplace. In 2014, when a GQ reporter teased him about his success with women, Kalanick made a wisecrack about women on demand, a concept he referred to as “Boob-er”. The CEO wasn’t the only exec who bred this culture; Emil Michael, former SVP of business, had suggested in 2014 that one Uber strategy could be to dig up dirt on journalists, especially one female journalist who found the culture discriminatory. Uber had also complained that leaked internal data about rape complaints were “highly misleading” as the word “rape” could mean any number of things and was supposedly a common typo for complaints related to “rate” (as in the fare).
A backlash against sexual harassment has begun. This year has seen departures – some forced due to complaints, others in response to the toxic culture – from Uber’s very top.
When an Uber board director was forced to resign after he made a sexist comment during a meeting on company culture, Professor Herminia Ibarra proposed an effective way forward for the company – and Silicon Valley as a whole: Replace all those who quit or who were pushed out with women.
A radical solution?
Why not? And why would this even be considered a radical solution? It seems the culture that has bred sexist executives continues to spread the idea that women are not good leaders nor capable of steering organisations through hard times.
At Davos in 2013, on a panel chaired by Ibarra, Facebook COO Sheryl Sandberg said, “The main difference between men and women in the workplace is that success and likeability are positively correlated for men and negatively correlated for women. As a woman becomes more successful, she is less liked.”
Predominantly male-dominated networks, therefore, tend to exclude women. Professors Theo Vermaelen and Theodoros Evgeniou found that men on boards have an information advantage over women. In one study on share buybacks, they showed that short-term as well as long-term excess returns after announcing buybacks are smaller when there are more women on the board. They argued that since long-term performance after buybacks is usually down to market timing based on superior inside information, men have access to better information that helps them to more correctly judge whether their stock is undervalued. They call this the “male information advantage hypothesis”.
The connections men make do not only help them with buybacks. Professor Lily Fang’s research has shown that men reap more benefits from connections than women on Wall Street, both in terms of job performance and in terms of subjective evaluation by others.
Professor Ludo Van der Heyden found that women’s lack of sponsorship was one of three things keeping them from the C-suite. Bias, both conscious and unconscious, and the way that top careers are modelled for men are the other two stumbling blocks that keep women away from the top.
The problem in these cases is that men and women are often evaluated using different criteria due to unconscious biases. In the venture capital world, research shows that all else being equal, men fare better than women when it comes to getting funding. One study found that the same video pitch for a start-up was twice as likely to be funded by investors when it was narrated by a male voice as opposed to a female one.
Vermaelen and Evgeniou go on to argue that the debate should move to how to facilitate the access of women to the rich, predominantly male-dominated information (and social) networks.
Research has not only shown the benefits of diverse workplaces and women on boards, but also how they can change risky behaviour and make more thorough decisions.
Professor Guoli Chen found that when women sit on boards, their companies are more likely to participate in small acquisition deals, which aren’t as risky as large deals for a firm’s long-term health. This is especially pertinent since most acquisitions fail. Boards with at least one woman director have more comprehensive discussions when making decisions than non-diverse boards.
Furthermore, women and men directors are likely to have had different career experiences, and thus often hold different opinions in terms of strategic options.
Research has shown that men directors are more likely to engage in their duties more diligently and miss fewer meetings when women directors are on the same board. These findings make it highly likely that increasing the representation of women on a company’s board will make board decision-making processes more thorough, comprehensive and accountable.
If Uber is serious about an initial public offering (IPO) in the near future, the company might also consider a recent study from the Chinese University of Hong Kong (CUHK). Professor Paul B. McGuinness found that firms have more resilient performance post-IPO when they invite a greater gender mix and exclude family ties between directors in Hong Kong. But this uplift in returns disappears when family associations crowd the boardroom.
According to McGuinness, his study “supports a growing view that gender bias imposes sizeable economic cost on society and corporate stakeholders more specifically.”
That cost can impact profit, which is enhanced with efficient board decision-making. As Henley Business School’s Caroline Rook found, companies with more women on the board are more successful in terms of ROI and return on invested capital (ROIC).
When women do have the opportunity to lead, they do it well, Professor Annet Aris noted. With more than 50 percent women on its board, Wolters Kluwer managed to grow from €3.66 billion in revenue in 2014 to €4.3 billion in 2016.
Disrupt for cultural change
Silicon Valley could therefore improve workplace conditions and create more stable growth by encouraging women to fill the recently freed up seats at the top table.
Ibarra’s proposal that the six available positions at Uber be taken up by women should not be remarkable. Truly disruptive actions – in this case, hiring – could lead to real change.
Change can start at Uber and ripple through the Valley. Sarah Kaplan at the Rotman School of Management found that simple changes to the language used by start-up accelerators when soliciting applications can encourage more women to step forward.
Uber board member Arianna Huffington told the Financial Times that the company’s troubles demonstrate the need for cultural repairs: “The goal should be not just to fix Uber but to fix the systemic culture of Silicon Valley. Otherwise, every year we will produce new reports asking why aren’t women advancing,” she said.
Written by Rachael Noyes, INSEAD Knowledge Europe Editor
This article is republished courtesy of INSEAD Knowledge. Copyright INSEAD 2017
Marketers #MakeTheirMarq in the inaugural edition
“Hindustan Unilever wins the coveted Green Marketer Award at the “Marquee Awards 2017”
The Advertising Club (TAC) India hosted the inaugural edition of the unique “Marquee Awards” at Grand Hyatt, Mumbai today. Presented by News18 India, powered by COLORS and MTV and partnered by One India, the prestigious event was flagged off by Honorable Minster of Textile, Information & Broadcasting, Government of India – Smt. Smriti Irani as Chief Guest of Honor. The Awards saw the enter marketing fraternity come together to recognized brands for their excellence in marketing, building sustainable and path breaking brands.
Hindustan Unilever won the coveted Green Marketer Award, which honors brands that have strived and conquered, by keeping a close focus on environment sustainability. The Special Award for “Conquering an impregnable fortress” was won by Bira 91. Pro Kabaddi League was recognized as the brand that “Traversed unchartered waters” and Paytm was recognized for “Riding on an emerging wave”. Honda Motorcycle & Scooter was awarded for “Breathing new life into a category”, Indian Accent was recognized for “Creating a Global Impact” while Oppo was recognized for “Carving out a Niche” for themselves in a highly competitive category.
Speaking at the Marques 2017 guest of honor for the awards, Honorable Minister of Textile, Information & Broadcasting, Government of India – Smt. Smriti Irani said “My congratulations to all the award winners and thanks to the jury that made this great selection. It fills me with a sense of deep gratitude and privilege that I stand here today as the Minister of Information & Broadcasting. I am what I am today thanks to this industry.”
She further added “The advertising industry inspires millions across this nation. Having been a part of this journey, I have just one appeal this evening - while we sell dreams to the nation and world, there are many amongst us who wither away with the passage of time. All I implore today to the industry stalwarts is that we now, in a systemic fashion, build a platform that takes care of those who need help, specially from the creative faction of the industry, so that the world does not accuse us selling dreams but living a lie.
I hope that one day, on this stage, some of us will stand here to applaud an Indian media company that has made it at the global stage.”
Speaking about the mega success of the Marquee Awards, Mr. Raj Nayak, President, The Advertising Club said, “Marquees 2017 has emerged as the gold standard in marketing awards. I thank the Honorable Minister for Textiles and Information & Broadcasting, Smt. Smriti Irani for gracing the maiden edition of Marquees 2017 as Chief Guest & enhancing the prestige of the Marquees. I also thank the Jury Chair Sanjiv Mehta & the distinguished Jury for their indulgence & commitment in making the awards robust, transparent & credible.”
Talking about the scale of Marquees 201,7 Mr. Partho Dasgupta, CEO, BARC India said, “The debut edition of Marquees has set a new benchmark of excellence by recognizing brands that have challenged the communication archetype in the industry, thus appealing to the evolved consumer of today. These awards through their differentiated scope, right from the jury panel to representation to categories has ensured that they are a marketer’s dream.”
Speaking on the occasion, Avinash Kaul, Managing Director, A+E Networks | TV18 and President - Network18 said, “We take great pride in associating with the first edition of Marquees, and congratulate the winners. At News18 India we identify with the spirit of celebrating brands that drive positive change. News18 India as a brand has also undergone a transformation after the rebranding exercise and the results are visible in top ratings for the channel. This only re-affirms our association with Marquees which has today honored path-breaking marketing campaigns that have inspired change. News18 India remains committed to doing impactful stories aimed at empowering our viewers."
India fastest growing market in Asia for Transactional/Triggered email; volumes to double by 2018: Netcore Solutions
Netcore Solutions, India’s first and largest marketing technology solution provider, achieved a new benchmark by sending an average 150 (1.5Bn) crore transactional emails and 400 (4Bn) crore (promotional emails) per month in the last quarter for their clients across Asia. India has emerged as one of the fastest growing markets for transactional/triggered emails today, which grew by 220% in FY 2016-17.
The volumes have witnessed an upward growth trajectory buoyed by the transformation in the consumption habits and patterns among all consumers preference to access real time information on multiple platforms and channels simultaneously.
This transformation in the consumption habits and patterns among all consumers is what Netcore broadly terms as the rapidly growing age of ‘consumer parallelism’. Owing to this, the company expects transactional/triggered email volumes to double by FY17-18 in Asia.
Commenting on the market scenario, Kalpit Jain, CEO, Netcore Solutions, said, “Netcore Solutions serves more than 300 brands in Asia from across sectors to disseminate transactional/ triggered emails. Earlier organisations in India used their in-house transactional platforms to disseminate information to their customers. But lately due to the surge in the volumes of customer base, demonetization and GST, organisations are outsourcing their transactional/ triggered emails to experts. With a surge in the e-commerce portals and platforms and the upcoming festive season, we anticipate the transactional/triggered email volumes to grow further by 100% YoY.”
Opportunities Galore: India and Asian market
The Indian government’s thrust towards digitization has provided a fillip to the email marketing business. In addition, GST and demonetization provided an added thrust to the volumes of transactional/triggered emails. The company currently holds around 50-60% of the organized email solutions market in the country. Netcore serves marquee clients such as Yes Bank, Axis Bank, Religare, India Infoline, Ola Cabs, Vodafone, Shine.com, etc.
“Structured email marketing tactics to reduce cart abandonment rates, re-engage and retain customers, and derive more from assessing the customer life value of the customer will gather momentum as it offers a direct measurable impact on the bottom-line and ROIs for the brands. These trends will also give rise to increased use of trans-promotional emails in the future,” Jain added.
Netcore is Asia’s leading transactional/ triggered email solution provider. The company handles 33% of Indonesia traffic, 40% of Philippines's traffic, 25% of Malaysia's traffic, 20% of UAE's transactional/triggered email traffic and 66% of India's [organized] triggered/transactional email traffic, all routed through Netcore. Consequently, Netcore has been witnessing a quarter on quarter revenue growth of 30% from its transactional/triggered emails solution.
Transactional/ triggered emails have 8x open rate as compared to traditional promotional emails. They also generate 6x more –ROI as compared to age-old practice of “batch & blast”. Using Falconide, India’s largest taxi aggregator attained 0.01 milli sec email latency-- which means the customers received the transactional/triggered response from the brand in real-time.