MediAvataar's News Desk
Raj Nayak will be serving at Viacom18 till February, 2019.
In an official statement released to the media, Viacom18 confirmed the departure of Raj Nayak, the media network’s Chief Operating Officer. Raj Nayak had joined Viacom18 in 2011 as CEO, COLORS and was elevated to COO - Viacom18 in May 2017, following which middle of this year, his role was expanded to lead the revenue portfolio for the network’s broadcast business.
Speaking about Raj Nayak’s departure, Sudhanshu Vats - Group CEO and MD Designate, Viacom18 said, “Raj is one of the most admired leaders in the media and entertainment industry. While on one hand, it is our loss to see a committed and capable leader leave, on the other, it is reassuring to know that he will always keep Viacom18’s flag flying high. On a personal level, I would like to thank Raj for partnering me as Viacom18 scaled newer heights. On behalf of everyone at Viacom18, I’d like to wish Raj all the very best for his future endeavours.”
Speaking about his journey at Viacom18, Raj Nayak said, “The last seven and a half years at Viacom18 have been most exciting, challenging and rewarding. I have a wonderful team and they helped propel the company to new heights. The Viacom18 leadership has always been supportive and for that, I will always be grateful. These are exciting times for the media industry, the pace of change is remarkable, and I feel energised about the opportunity to do something new in this new landscape.”
With Earth being subjected to humankind’s worst behaviour, National Geographic highlights “The Future is Red” on some of India’s most iconic monuments
Glaciers are melting, sea levels are rising, pollution in various parts of the world is at its peak, and tonnes of plastic waste is in the oceans. Given the rate of deterioration of our planet, the future is looking red for life on Earth. This means that humankind will undoubtedly need to find a new home for its survival. In National Geographic’s new season of the acclaimed series MARS, which premiered on Saturday, experts like Elon Musk and former chief scientist of NASA explain how Mars will be that home soon. While the series focusses on how humankind will survive on the new planet, National Geographic is also trying to highlight another important issue connected to this – the subject of preserving our current home, Earth. To raise awareness around the planet’s depleting resources, National Geographic illuminated iconic monuments red on 17th and 18th November, to awaken people with a powerful message - ‘The Future is Red’.
The iconic structures used to spread this important message are some of India’s most visited and photographed monuments, including Worli Sea Link and Gateway of India in Mumbai, The National Museum and Signature Bridge in Delhi. These icons were turned red, followed by the message of ‘The Future is Red’ in the evening over the weekend. In this initiative, the monuments, which represent our heritage, become a moving medium to highlight the message that the future is red for us, unless we take responsibility for our past and present.
Produced by Academy Award winners Ron Howard & Brian Grazer, MARS - dubbed impressive, inspiring and scientifically honest by critics – combines expert opinions from space exploration pioneers with dramatic visualisation to showcase how humans will survive living on Mars, once we colonise the planet. The series highlights how humankind will face similar problems on Mars as it is facing currently on Earth, due to making the same mistakes. It highlights a spectrum of events that are currently compromising life and the environment on Earth: drilling, glacial melting, rising sea level and indigenous health epidemics which surface when the permafrost melts.
Gayatri Yadav, Head-Consumer Strategy and Innovation, Star India said, “With evolving science and technology, humankind has taken tremendous strides towards our next big frontier – the Red Planet. The new season of MARS, gives an in-depth view of how our lives will be on the planet. While our show celebrates humankind’s insatiable spirit of exploration, we also wanted to spread awareness about the fact that we are doomed to have the same fate on any new home, unless we take responsibility for it. National Geographic has always been a powerful voice that awakens people to change, and with this audacious initiative to turn our iconic monuments red, we want to highlight the importance for each and every one of us, to make informed choices to save our planet Earth.”
The new season of MARS was launched on the 17th of November at 9 pm on National Geographic & Hotstar.
Is SMS dead or are marketers missing the mark? Further findings indicate the latter:
61% of consumers surveyed say that most email ads they receive do not offer anything that interests them
Only 28% of consumers surveyed say that brands send them email offers well-timed with their needs
Bangalore, 20th November, 2018: Epsilon, a global leader in creating connections between people and brands, today released the commissioned study ‘Marketing In India Is Personal, Not Just Business’ conducted by Forrester Consulting. The findings revealed the huge chasm between what marketeers believe they need to do to reach consumers, and what consumers actually prefer.
The study analysed the marketing techniques used by Indian brands and the areas they could improve to optimise their Return on Marketing Investment (ROMI). The findings indicate that 74% of marketeers use marketing technologies to reach consumers via SMS while only 2% of consumers prefer to receive marketing updates through this channel.
The online survey of more than 600 people that included both consumers and senior marketing professionals in decision-making roles from retail, consumer packaged goods, financial services, insurance and travel, and hospitality brands in India. The study sought to understand the use of marketing technologies across targeted industries and its relationship with consumer expectations regarding advertisements, loyalty and brand engagement.
Key finding of the survey :
● 63% of Indian consumers prefer personalized marketing and are inclined to purchase from brands that provide relevant content and offers
● About 78% of consumers expect companies to have a mobile app (50% regularly keep in touch with their most frequently-purchased brand on their mobile apps), and 68% feel frustrated when a website is not mobile-friendly
● In the next 12 months, 60% of marketeers plan to increase their technology spends
● 71% plan to increase spending on advertising and marketing performance measurement solutions
● 72% of the 25-34 years old read product reviews online
● 63% of Indian consumers are not willing to share personal information with companies to receive more relevant advertising however over 90% will give up information for perks and benefits
● Consumers require transparency and privacy protection, but only 15% of marketers in India consider preparing for GDPR as a priority
In line with this, Ashish Sinha, Country Head, Epsilon shared, “This research is a barometer for marketeers to guide them in reorienting their strategies and priorities to serve their consumers better and more effectively. We need to help marketeers understand what they are misreading when it comes to customer engagement. The study helps understand consumers and their predilections to help marketeers evolve. For instance, the study found, although about 92% of marketeers in India consider improving their ability to personalize capabilities as priority in marketing, the Indian market is unfledged in terms of data and technology readiness, cross-channel expertise, and in bridging organizational silos.”
He further added, “It is a big challenge for marketeers to opt for and use the right technology to help them make sense of data and make triable marketing decisions as fast as possible. Matters like privacy are sensitive areas for Indians and hence, marketeers need to sustain a balance between personalization and privacy. Indian marketeers need to find good partners with proven expertise for strategic guidance around collecting, cleansing and integrating consumer data and break down the internal data layers to improve their ROMI.”
Marketeers need to better understand how consumers want to be served in order to align their (Enterprise Marketing Technology) EMT investments and optimize their omnichannel marketing.
Additional findings from the consumers surveyed include:
Indian consumers prefer personalized marketing
With respect to personalized marketing, the study highlights that 63% of Indian consumers prefer personalized marketing and are inclined to purchase from brands that provide relevant content and offers. Loyalty programs executed by brands play a key role in customer acquisition and user experience where offers through email and SMS are the most popular tools being used by the marketeers currently.
Consumers expect brands to have engaging digital experiences
The survey also affirmed that regardless of age, gender or social background, consumers have high expectations of digital brand experiences. About 78% of consumers expect companies to have a mobile app (50% regularly keep in touch with their most frequently-purchased brand on their mobile apps), and 68% feel frustrated when a website is not mobile-friendly.
Additional findings from the marketeers surveyed include
Marketeers propose to increase their technology spends to deliver personalized experiences
The study also indicated that in the next 12 months, 60% of marketeers plan to increase their technology spends. Findings indicate that increased technology investments will help deliver personalized experiences as 92% of marketeers in India consider improving personalization capabilities as a top marketing priority.
Marketeers to focus on improving ROI of marketing
As improving the ROI of marketing is a principal initiative for 80% of the marketeers in India, it’s no surprise that 71% plan to increase spending on advertising and marketing performance measurement solutions.
Isobar India, the digital agency from Dentsu Aegis Network, has announced the launch of ‘viewCent’, a unique solution tool in video-strategy for businesses that aim to win the maximum yet relevant eyeballs.
viewCent is based on Deep Machine Learning and can, quite precisely, forecast the kind of consumer attention that a particular type of content can achieve within a specific given time. The resonance score for the content, which is called Viral Grade (VG), is calculated by collecting 400 different variables around that content. The variables are then fed into two patented AI engines – the Super Relevance EngineTM and the Viral Prediction EngineTM - to process the data, real time.
It is pertinent to note here that the agency is currently testing the Beta version of the tool for its key clients across automobile, apparel, appliances and technology.
Commenting on the launch, Gopa Kumar, Executive Vice President, Isobar India said, “At Isobar, we are constantly looking at developing tools which can help bring transparency in our brand marketing efforts. viewCent is one such tool that will be a one-stop video strategy solution for brands. viewCent will reflect the future of the content-consumer engagement and how well can that video resonate with its audience. This will help brands stay one step ahead of the curve by pre-empting trends and help take data-driven media decisions to improve media efficiency. It will also help build some science into the age-old question of whether a particular content will go viral or not.”
Speaking about the tool, Aditya Kaul, Senior Director- Insights & Analytics said, “Ability to pre-empt and quantify the viral potential of content opens up a plethora of business solutions for brands. These opportunities span from prolific content creation and effective media decision making to keeping an eye on competition and ensuring brand safety.”
The leading online fashion platform has improved campaign performance by twice the average industry standards
Myntra, one of the most recognisable brands in the country’s digital fashion space, continues to benefit greatly from Netcore’s AI-powered growth marketing platform, Smartech. Myntra has been able to power customer engagement at incredible scale using Smartech’s comprehensive analytics and engagement ecosystem to produce 60% better results when it comes to their email marketing campaigns.
This uplift which is 2X that of industry standards, underscores how established brands can hit impressive growth figures by incorporating AI as part of their broader marketing strategy. These results were achieved by partnering with Smartech, a product of Netcore Solutions, a global pioneer in the martech space, for over 4 years.
In these times of multi-channel engagement, email continues to be the most valuable channel for marketing messages, with average open rates of 17% and CTRs (Click-Through Rates) of 2.3%. Therefore, it has a significant impact on the bottomlines of online retailers since conversions are directly related to campaign performance.
Myntra’s pressing challenge was to ensure that its marketing emails get delivered in the “Primary” tab of their customer’s inbox, rather than the “Promotions” tab. Driving Primary Inbox delivery drastically enhances the chances of eventual conversions instead of getting lost in the daily clutter of other promotional email.
Smartech addressed this challenge through a 3-pronged approach:
1. AI-powered Dynamic Delivery: Smartech helps enhance delivery rate through Primary Inboxing, which helped increase the Click-Through Rates (CTRs) by 1.5X
2. Neural Networks coupled with Smart Segments: A component of AI, Neural Networks identified customer segments based on their brand affinity, gleaned from data regarding their interactions and transaction history. These can pick up the smallest of signals with regard to delivery used to then auto-adjust the campaign throughput
3. Consultancy-driven Content Optimisation: By leveraging Smartech’s AI and Machine Learning capabilities, Myntra was able to zero in on the right content and creatives for its audiences as well as identify the best times for sending their emails, all aimed at maximising conversions through compelling calls to action
Mr. Aashish Kumar, Senior Manager, CRM & Growth at Myntra stated, “Netcore's Smartech has been critical to our customer retention strategy, and we have partnered with them for 4+ years now. Using AI-based delivery, Smartech has helped us in Primary Inboxing, achieving 60% improvement in email campaign performance which is 2X that of average industry standards.”
Kalpit Jain, Group CEO at Netcore Solutions, added, “Myntra has been a valuable partner over the years and we are thrilled to be playing a role in their growth story. Brands that adopt AI and Machine Learning as part of their marketing strategy are far likelier remain ahead of the curve. Our work for Myntra highlights the immense power of AI in making the best possible utilisation of customer data, and should serve as encouragement for marketers across the industry. We look forward to scaling greater heights with Myntra in the years to come.”