MediAvataar's News Desk
Raju Sarin has joined as head of Mogae Plus, the sales division of Mogae Media that handles monetization for FoodFood TV, Gaon Connection newspaper, and Reliance Retail activations. He will be based at the company’s Gurgaon HQ.
Raju is a media industry marketing and sales veteran with over two and a half decades of successful track record of product launches, revenue expansions and new business development. He has worked as Publishing Director with Living Media, The India Today Group for the business division magazines like Business Today, Harvard Business Review, Men’s Health etc., Publisher for Mail Today, CEO with Media Transasia, managing over twenty magazines in India and Bangkok, Business Head of HT Media Magazine division, and Regional Head of MTV.
Raju is a Chartered Accountant and an MBA from FMS, Delhi University.
“We are building a young and competent team at Mogae Plus to help a larger number of third party brands reach the market more effectively,” says Raju Sarin.
“Raju is a seasoned professional. He brings both width and depth to Mogae Plus. We are constantly being approached by third party brands to lend the strength of our sales force to them. Raju is being charged to do just that,” adds Tanya Goyal, Executive Director of Mogae Media.
Joining Raju as Head of West & South operations of Mogae Plus is Sonali Ayyer. Sonali has 24 years plus of varied experience holding leadership positions in TV & Print media. After a longish stint at Zee TV, she has represented TV Asia & Sun Network (US Beam) and Imagine Movies (UAE beam) to brands in the past.
Mogae Media, promoted by former Dentsu India JV partners, Sandeep & Tanya Goyal is a market leader in mobile solutioning and advertising. Mogae raised Rs. 100 crores from Renuka Ramnath’s Multiples PE.
Tenet, through its CoreBrand Index (CBI), has been measuring the strength and value of corporate brands since 1990. Providing prescriptive insights on brand performance, it is based on two critical dimensions that contribute to a company’s ability to drive long-term growth: Familiarity (brand awareness) and Favorability (measuring corporate reputation, perception of management, and investment potential). Turning to Tenet’s CBI data, what trends or general movement is revealed when looking at the Volkswagen brand before and after this event?
Volkswagen has had a very strong and relatively stable brand when compared to the 1,000 companies that we track. The company’s Familiarity score is around 90 out of 100 making them one of the most highly recognized brands in the world. Their Favorability has been hovering in the mid-70’s out of 100, indicating that they have been fairly well perceived.
With Familiarity that high, it means that Volkswagen will not be able to hide from this event. In a crisis, typically we see Familiarity increase as media attention grows and Favorability plummet as the perception is damaged. It remains to be seen how the three attributes we measure (Overall Reputation, Perception of Management and Investment Potential) will be impacted. Because there was condoned lying and cheating by management, Perception of Management will likely be driving the expected downward spiral. However, the company has also given away a significant portion of its market cap so the damage to Investment Potential may be significant as well. Investment Potential can recover relatively quickly if the company’s stock performance improves soon. The damage to Perception of Management is likely going to suffer in the long-term since they were knowledgeable about this and complicit beforehand.
The company said it would set aside $7.3 billion to cover the cost of repairing nearly 11 million vehicles impacted by the scandal, in addition to other efforts to win back the trust of customers. In your view, what steps should the company take to undo the damage it has done?
First of all, they need complete transparency and cannot try to cover their tracks or deflect blame. They have been caught red handed and now must fully commit themselves to do right. Any further lies or attempts to cover the truth will have a disastrous impact on the company’s already declining credibility.
They have to put their customers above all else. They need to quickly implement the recalls and fix any deficiencies in these vehicles. The customers don’t want to hear about it, they want action. A recall is an inconvenience to their customers and they have to act to minimize this inconvenience.
The problem that Volkswagen faces in restoring trust is that this was not an accident – it was intentional fraudulent activity meant to fool regulatory bodies. The knowingly installed so-called “defeat devices” to make their cars pass federal emissions tests. They will likely need the help and expertise of crisis communication consultants to help them convey appropriate messages moving forward, but even that may not be enough. We live in a society that will forgive accidental missteps. However, in this case, they devised a methodology to defeat the regulators. That is a tough, if not impossible fix.
In today’s data-driven business landscape, companies want greater transparency and a clear line of sight into what’s driving the value of their brand equity. Could you describe Tenet’s approach to Brand Equity Valuation? Is it possible that VW has already incurred a loss of brand value following this event?
Our valuation approach uses an explicit measure of the strength of the brand, BrandPower (Familiarity and Favorability), which has been consistently tracked across 1,000 companies since 1990 and is available quarterly. BrandPower is then one variable in a statistical model that identifies the brand’s contribution to market cap and the dollar value of the brand.
We have examined what this crisis has already meant to the brand and it is not good. In terms of brand valuation, the company’s brand was at its peak for 2015 in March at $11.2Bil. It was already headed downward and on September 18th was at $8.8Bil. By the close of the market on September 21st the brands’ value was down to $7.3Bil, and as mid-morning trading on the 22nd brand value continued to drop and was at $5.9Bil,a drop of $2.9Bil from Friday afternoon until mid-morning on Tuesday. This represents a loss of nearly 1/3 of the brands total value in just a day and a half. The financial damage already has been horrific.
When looking at other global brands that have faced a similar, large-scale crisis, both BP and Toyota come to mind. In what ways is this situation to Volkswagen unique and lessons can brands learn from their response and efforts to engage audiences?
Toyota followed this similar crisis pattern where Familiarity briefly was elevated by increased media attention and then returned to previous levels. Favorability though was damaged and continues to decay. The company once had exemplary brand scores with Familiarity above 90 and Favorability around 85, they were well known and highly regarded. Today, they are still widely known, but their sterling reputation has been tarnished. Favorability is just above 70, and continuing to decline across all three attributes. The best news for Toyota is that the rate of decline has slowed considerably so they might be nearing bottom. For them, the focus needs to be on rehabilitating their brand.
Similarly, BP followed the same crisis pattern as Toyota. Interestingly, BP retained its Familiarity gains which were modest, about 6-points. And while Favorability dropped even more than Toyota, from 83 to 67, BP has restored some of its lost Favorability and now resides just above 75. BP’s Favorability bottomed out at the end of 2011. Therefore indicating that their rapid response, community outreach and efforts to rehabilitate their image and be seen as doing right have kept this crisis somewhat contained and lessened what could have turned into an even bigger financial disaster for the company.
This is just the beginning of the crisis for VW. The company’s CEO, Martin Winterkorn, just announced that he would be stepping down, and I expect other management shuffles to take place as a result. While only days into this scandal, the $7.3Bil that they have set aside is about 11% of what the BP crisis cost the company. I believe by the time VW is hit with fines, penalties, lawsuits and who knows what next, this crisis will have caused more damage to the brand and will be even more expensive for them.
Written by Brad Puckey Partner,CoreBrand Analytics
How can B-to-B marketers build brands that can effectively encourage a decision-maker to buy?
Over the past two decades, more and more B-to-B marketers have seen their products and/or services commoditized, or worse yet, made irrelevant. Many marketers face one or more of these brand-related challenges:
1. Their brand is organic—not driven by their organization’s vision or business strategy and developed without structure or rules.
2. Their messages are ad hoc or their value proposition is inconsistent.
3. There’s no cohesion in how they present their brand externally.
4. While some may have effective methods of quantifiably measuring the impact of campaigns, they have no process in place to track the strength of their brand.
Over time, the practice of B-to-B branding has continually grown. Today, the brand is almost as important as the efforts of sales teams in encouraging a decision-maker to make a buy. But how do you build a brand that can do this effectively?
Inseparable from building a brand that makes a decision-maker want to buy is gaining insights through data that allows marketers to inform, track and continually optimize the brand. Here’s what it looks like in action.
“Data has been critical in helping us continually track and optimize our brand on a global basis, said Brian Krause, vice president of global marketing for Molex, a global electronics solutions provider. “Through various data sources and dashboards we are able to measure our success in regions around the world, by vertical markets and company size.”
Today’s top B-to-B brands rely on digital tools and platforms to quantify and model the data they collect. While many of these tools are leveraged to build and evolve brands—qualitative and quantitative research, leadership input, competitive analysis, category trends, etc.—today’s brand leaders have many more sources of data to consider.
Why? A strong brand today is more than just native advertising, online copy and print ads. Instead, B-to-B brands include social media, a Web presence and online media. In order to keep track of these, marketers need to expand their tools to measure Web analytics, marketing automation, their CRM and social media.
In addition to the sources mentioned above, a strong B-to-B brand relies on a strategy based on analytics. Not only should data inform marketing tactics, but it must also help marketers measure the current strength of their brand and provide insights into how to develop it.
Social Currency is one tool useful for measuring the strength and value of a brand. Social Currency, as defined by Vivaldi Partners Group is, “the degree to which customers share a brand or information about a brand with others.” Movéo’s Kevin Randall, vice president of strategy and planning, consulted with Vivaldi and MIT Sloan statisticians in creating the methodology for measuring a brand’s Social Currency.
Another key performance indicator developed by Movéo to inform marketing strategy is what we refer to as a “holistic score”: a formula designed to measure engagement with the brand by monitoring key actions in relation to marketing goals. The scoring is determined by a formula that applies weight to each action based on importance and relevance. The score aggregates multiple marketing achievements to one comparable number and provides a holistic view of brand performance.
Internal Brand Performance
While it’s important to track your brand with external audiences, understanding the strength of your internal brand can be equally, if not more, critical.
The most common method here is an employee survey fielded twice each year. The employee survey is particularly important when building a new brand strategy. This survey is different from those fielded by the human resources department in that it is completely focused on the brand.
The objective is to clearly understand the “views and wants” of leadership, customers and employees. Also referred to as a three-gap analysis, this data enables marketers to understand the wants and needs of each audience and then identify gaps that may exist.
Finally, there’s the metric many would say is the most important when considering the strength of a brand—financial. The ability to draw correlations between the brand and business growth is what many marketers struggle with. The key is to align messages, tactics and the experiences of a brand with ultimate business outcomes and evaluate its efficiency and effectiveness to generate leads, orders and revenue.
What works for one company may not work for others. However, there is one certainty: brands must be built using data, rather than educated assumptions. This same approach must be leveraged to support the ongoing management and growth of the brand.
Authored by Bob Murphy,Managing partner at Chicago-based Movéo.
Times Card has wrapped up the Mumbai Metro in its own colours. It recently launched a “Do More ofWhat You Love” campaign. Times Card, since its launch in February 2012 has been leading the entertainment co branded card segment with amazing offers in the dining and movies space across 9 key markets in India. The card offers 25% discount on movies booked via the card as well as over 20% discount across a 1000 dining outlets.
With nearly 3 lac customers on boarded, it is fast expanding its breadth across markets and gaining significant traction in the young professionals, 25-34 year segment. The Times Card audience belongs to an urban landscape and hence the card showcases offers that they aspire for. The first leg of the OOH campaign has been initiated in Mumbai in the Andheri to Ghatkopar metro where there will be multiple voice messages about the brand attributes and offers along with a train wrap and outdoor communication at the stations. The creative idea was to remind the audience about the great savings on entertainment that they could avail through the card thereby allowing them to do more of what they love.
Speaking about the campaign, Archana Vohra,Vice President and Business Head, Times Internet, said that the campaign is derived from customer feedback that while they enjoy all the fun things like eating out, movies and shopping they often land up over spending on these.
“Times Card is a Young Turk card that offers great dining and movie deals. Its aimed at giving discerning customers a bang for their buck by allowing them to do more or spend more on what they love without feeling guilty. The card is built around entertainment privileges in the city and aims at making a whole lot of places in the city accessible via best in class deals,” she adds.
"Speaking on the campaign Mr. Parag Rao, Business Head - Card Payment Products, Merchant Acquiring & Marketing, HDFC Bank, said that "At HDFC Bank, enhancing customer experience is at the core of all our products, services, initiatives and partnerships. Times card is a result of the Bank's partnership with The Times Group and is targeted at meeting the changing needs and desires of the urban youth customer segment. They can use this card to make purchases while availing great value in the form of discounts and rewards. This campaign revalidates the proposition effectively.”
TimesCard was launched in association with HDFC with two variants – Platinum and Titanium. The cards have concentrated on the entertainment space and more specifically movies and dining across top cities (Mumbai, Delhi, Chennai, Pune, Bangalore, Calcutta, Hyderabad, Ahmedabad and Chandigarh).
The cards have done exceedingly well notching a high rate of adoption in the HDFC card portfolio, and with the campaign, the partners are hoping to achieve even larger engagement. The platinum variant of the card also offers lounge benefits across cities.
Brand Centre launch kicked off with adidas Uprising, a campaign inviting the citizens of Bengaluru to live their passion for sport
adidas has opened its biggest Brand Centre in the country, located at Indra nagar, spanning at 5,000 square feet over two floors. The Brand Centre brings together cutting edge sportswear and sports inspired street wear label under one roof, taking the adidas retail experience to a whole new level.
The opening of the brand centre was marked with the launch of adidas Uprising, a unique campaign inviting athletes and sports enthusiasts of the city of Bengaluru to take to the sport they are or have been passionate about. Sporting icons and adidas athletes Virat Kohli, Sania Mirza, KL Rahul, Unmukt Chand & Saurav Ghosal, joined the adidas Uprising by taking to their field of sport to encourage maximum participation from the city.
Talking about the launch, Damyant Singh, Sr. Marketing Director, adidas India said, “This brand centre in essence serves as the adidas capital for Bengaluru. This is a brand statement, a hub for sports enthusiasts and streetwear hounds in the city, and will give consumers the opportunity to experience the entire breadth and depth of the adidas brand in a sports performance-led environment.”
He further adds, "adidas Uprising is a great endorsement of Bengaluru being the first-choice destination for adidas to launch the biggest statement store. Bengaluru is the hub of sporting activities and has some of the most brilliant sports persons across all the major sports played in the country today. adidas continues to cultivate this rich sporting heritage by inviting the people of Bengaluru to come out and play, and further inspire to build an even greater sporting culture in India. We plan to take this movement to Delhi and Mumbai in the coming months and other key cities in the future.”
The adidas Brand Center offers a range of unique interactive elements that will provide consumers with a truly special retail experience. The Brand Center shall have a special football zone complete with astro-turf flooring, iconic boots and European club jerseys, which can be personalized providing an immersive retail experience for football fans and consumers.
The adidas running zone features shoes classified on the basis of a runner’s foot movement, which can be further analyzed by understanding his or her gait. The brand centre will be the epicenter for everything around adidas running in Bengaluru with an interactive map showcasing the runs happening in the neighborhood with the aim to connect new runners with active running communities in the vicinity. Also periodic sessions with adidas running experts, part of the ‘adidas Wolfpack’ to answer all the questions related to running.
adidas will play host to plethora of high-profile and interactive sporting events all day on September 27th, 2015 and capture the spirit of uprising by inviting people of Bengaluru to participate, compete and perform. adidas Uprising includes series of sporting activities & eventinspired by street culture - Athletics, Badminton, Basketball, Cycling, Squash, Cricket, Football, Running, Training, Tennis, Rugby, Skateboarding and Beatboxing.