MediAvataar's News Desk
TNS and J. Walter Thompson Asia Pacific Reveal New Study “Participation – Beyond the Hype”
Brands have been falling over themselves trying to get consumers to participate in online and social media campaigns. But just because technology creates new avenues and opportunities for consumers to participate with brands online doesn’t mean people want to.
There’s a lot of hype around consumer participation but what’s the truth?
While brands are interested in interacting with and participating with consumers, people aren’t as interested in actively participating with brands. People would still far rather consume content than actively participate with it.
In a new report “Participation – Beyond the Hype”, J. Walter Thompson Asia Pacific and market research and market information group Taylor Nelson Sofres (TNS) present the argument that the hype around participation, today’s big buzzword in marketing, is based on a flawed assumption of the level of interest consumers have in engaging with brands online.
Many marketers look at participation as an end in itself, focusing on amassing likes and shares. But according to the new report, that’s been a distraction.
Analysis by J Walter Thompson Asia Pacific, based on a study of online behaviors and attitudes of 5,600 people across seven countries in Asia Pacific conducted by TNS, shows consumers across the region are hesitant, or even suspicious, about engaging with brands online, and resent doing anything that appears to benefit the brand more than in benefits them.
The report explains that, in fact we’ve been looking at participation all wrong: Participation is not why people connect; it’s a response when people make a connection. This report, supported with a range of events and seminars across the APAC region, looks into how consumers engage with brands online and offers suggestions of how to maximize commercial outcomes through a focus on creative ideas that build deep connections with consumers.
Angela Morris, Executive Planning Director at J. Walter Thompson Australia, and Alistair Leathwood, Executive Director for TNS, took the stage at Spikes Asia to introduce the study today in a session that gave audience members four big takeaways:
Create content for people, not brands.
Remember content without strategy is not marketing. Have a strong reason for doing what you do.
Don’t ask things of your consumer, but give back instead. Understand their pain points and delights.
Be true to brand ideas: They are a way of creating meaning over and above product/service benefits.
• Year-on-year brand value increase is highest in BrandZ’s 10-year history – reflecting a new sense of consumer empowerment, and smart business management by corporates
• Finance brands are highest risers in the BrandZ™ India Top 50; HDFC Bank is most valuable brand for second year; home and personal care brands perform strongly
The total value of India’s strongest brands has risen by a third (33%) over the last year, according to the second annual BrandZ™ Top 50 Most Valuable Indian Brands ranking announced by WPP and Millward Brown. This is the highest rate of growth achieved by any BrandZ ranking in the 10 years since valuations began, exceeding that of the Global Top 100 as well as the rankings for China, Latin America and Indonesia.
India’s Top 50 brands are now worth $92.2bn (up from just under $70bn in 2014). The record-setting value increase has been driven by brands’ successful response to the rising sense of empowerment among Indian consumers, and the government’s efforts to create a more conducive business environment.
Brands in the financial sector (+49% growth) made the largest contribution to the overall increase in value, but significant lifts were also seen across most other sectors, indicating the broad strength of India’s economy and Indian brands. Home and personal care brands achieved a combined increase of 32%, followed by the auto aftermarket sector (28%), automobile brands (27%) and telecom providers (21%).
Private companies, state-owned enterprises (SOEs) and brands owned by multinational corporations that are publicly traded in India all experienced growth, illustrating how receptive the market is to brands of all kinds. 52% of the brands in the Top 50 are privately-owned, evidence of India’s entrepreneurial energy. 30% of the brands are owned by multinationals, which have successfully adapted to the needs of Indian consumers, becoming so embedded in their lives that they are perceived as ‘local’.
Key highlights of the 2015 BrandZ Top 50 Most Valuable Indian Brands study include:
• Financial brands continue to dominate. With 13 brands in the Top 50, accounting for 41% of its value ($38.1bn), the financial sector has built brand strength by making a consistent effort to serve consumers better. Biggest risers: Union Bank of India (no.46, +72%), Punjab National Bank (no.22, +61%) and IndusInd Bank (no.13, +46%).
• Home and personal care brands grew 32%, driven by increased disposable income and spending on premium products, and investment by marketers across traditional and new media. These 12 brands hold 15% ($13.4bn) of the ranking’s total brand value. Fastest risers: Lakme (no.44, +69%), Lifebuoy (no.31, +49%) and Colgate (no.26, +44%).
• Purpose is power. Indian consumers expect brands to actively participate in building a better society, and those that do have a higher brand value. Lifebuoy (no.31) has a social mission to change consumers’ hygiene behaviour, while Asian Paints (no.5) aspires to rejuvenate people’s living spaces and bring joy to their lives.
• Indian consumers trust brands. In stark contrast with other markets, trust in brands is growing steadily. Consumers in India appreciate brands, and 33% say they trust them. Among the most trusted are jeweller Tanishq (no.21), part of the respected Tata conglomerate, and Colgate, which is part of Indian folklore, and has been instrumental in organising dental check-up camps to raise dental hygiene awareness.
• All four new entrants are of Indian origin – Axis Bank, Canara Bank, MRF (tyres) and Royal Enfield. Three are privately owned, and one is an SOE.
• Disruption is on the horizon – from e-commerce and mobile brands that are building scale and connecting with consumers at a frenetic pace. These are not yet eligible to be ranked in the Top 50 because they are not publicly traded.
• The BrandZ India Top 50 outperforms SENSEX (a weighted index of 30 stocks on the Bombay Stock Exchange), showing how valuable brands deliver superior returns. A stock portfolio comprised of the Top 50 increased their share value 18.6% between August 2014 and July 2015, while India’s SENSEX index increased only 1.5%. The ROI produced by the BrandZ portfolio was over 12 times greater.
David Roth, CEO of WPP’s The Store commented: “The 2015 study shows that India is a market of great opportunities where consumers are feeling empowered, and this is increasingly reflected in their brand choices. The new Modi government is committed to creating an environment in which brands can flourish. India is distinct in many ways from other fast-growing markets, however, so simply applying strategies that have proved successful elsewhere will not work in India. Any brand intending to compete in India must gain deep insights into its nuances – such as the need to modernise while respecting the past, and the desire to remain fundamentally Indian.”
Prasun Basu, Millward Brown’s Managing Director, South Asia said: “India’s top brands are strong, and getting stronger – but there is no room for complacence. The top four had to grow their value by 37% on average to hold on to the same positions as last year, and close to 10% of the brands that made the Top 50 in 2014 have dropped out. To benefit from the continuing rise in consumer confidence and optimism brands need to understand the changing consumer, respond with innovative products and breakthrough communication, and experiment and invest in new media that reflect the spirit of the country today.”
Ranjan Kapur, Country Manager, WPP India, added: “Building a successful brand in India also means helping to build India itself. Consumers are trustful of brands, but trust can crumble overnight. Brands must work hard to sustain trust by connecting with the country’s communal sense of responsibility. Brands need to find ways to support the national agenda, and help to develop a more modern, prosperous and equitable society.”
The valuation methodology behind the BrandZ™ Top 50 Most Valuable Indian Brands ranking is the only one that combines financial data with the perceptions of Indian consumers, making it the definitive study of the most accomplished brands in this fast-growing market. The ranking is accompanied by a detailed report that analyzes the success of the Top 50, identifies the key forces driving brand growth in India, and makes action-oriented recommendations to help brands successfully navigate this environment.
The India Top 50 is part of the BrandZ family of brand valuations, which also includes the Global Top 100 (released 27 May 2015), Indonesia Top 50 (released 19 August 2015), Latin America Top 50 (to be released 23 September) and China Top 100 (to be released February 2016).
Background and methodology
The brand valuation behind the BrandZ Indian Top 50 was conducted by Millward Brown, WPP’s specialist marketing and brand consultancy. The methodology mirrors that used to calculate the annual BrandZ Top 100 Most Valuable Global Brands ranking, which is now in its tenth year.
The valuation combines rigorously analysed financial data from Bloomberg and Kantar Worldpanel with the opinions of more than 50,000 Indian consumers, gathered for over 600 brands in 50+ categories. All brands meet these two eligibility criteria:
• The brand is owned by an enterprise listed on a stock exchange in India
• In the case of banks, at least 25 percent of earnings were derived from retail business.
MAX, the premium Hindi movies and special events channel brings to its discerning viewers the eccentricities of a crazy father- daughter relationship with its slice-of-life–film ‘Piku’ on Sunday, 20th September at 8 pm with a repeat telecast on Saturday, 26th September at 8 pm.
Directed by Shoojit Sarkar and starring Amitabh Bachchan, Deepika Padukone and Irrfan Khan in lead roles, Piku is an ordinary and down- to – earth tale of a father- daughter relationship. Exploring the bond between Bhaskhor Banerjee (Amitabh Bachchan) and Piku (Deepika Padukone), Piku acquaints the audience to a father’s obsession with his health and a daughter’s concern over her father’s obsession.
Commenting on Piku’s relationship with her father, Deepika Padukone said, “The finer equation that Baba and Piku share is unlike any other father-daughter portrayal you would have seen in recent times. Piku has a lot of love and respect for Baba, though she might have her way of doing things. While I was doing this film, I was constantly thinking of the equation I share with my dad (Prakash Padukone). Of course, Baba and my dad are two different personalities.”
Catch the fun and quirky father- daughter relationship “Piku” on MAX on Sunday, 20th September at 8 pm with a repeat telecast on Saturday, 26th September at 8 pm
Discovery Turbo presents a brand new series, CARS THAT ROCK with Brian Johnson, lead singer of the biggest rock 'n' roll band AC/DC, as the bold and daring host. The new series will have Brian at the steering wheel, navigating through a bevy of the most amazing, exhilarating and iconic mean-machines.
CARS THAT ROCK WITH BRIAN JOHNSON airs every Monday at 10 PM on Discovery Turbo.
In the exhilarating new series Johnson, with his colourful sense of humour, delves into the rich heritage and, of course, gets behind the wheels of the most iconic cars in history. From the sleek Jaguar, illustrious Alfa Romeo, famous MG and iconic McLaren to the classic Landrover and exhilarating Nascar, Johnson explores their fascinating histories, visits the factories and meets the makers of these fine motoring stallions.
Each week Brian Johnson will explore the fascinating history of these, four- wheeled -cruisers, by visiting the factories and meeting the makers of these fine automobiles. Brian believes that fast cars and rock 'n' roll are made for each other.
The AC/DC frontman lets loose the thrill-seeker in him, competing in vintage car races all over the globe. In the series, Johnson gets to indulge his passion for speed as he visits and drives around some of the world's best speedways and race tracks with the most talented drivers and racers from all around the world.
Strap on your seatbelts and get ready for an exhilarating ride on CARS THAT ROCK WITH BRIAN JOHNSON, only on Discovery Turbo.
The power packed political news event of the Hindi heartland - Panchayat Aaj Tak is back this time to set the tone of the Bihar Elections. The landmark event by the nation's undisputed No. 1 News channel will make sense of the political environment ahead of the critical Bihar Elections. The Conclave is scheduled for 15th Sept in Patna and will see the top political faces debate the hottest issues in the nation's most gripping state election.
The lineup of the distinguished speakers will include Nitish Kumar, Bihar Chief Minister Lalu Prasad Yadav, Ex Chief Minister and President RJD and Jitan Ram Manjhi, Former Chief Minister of Bihar. The other stalwarts at the biggest Political Conclave in Patna include Ravi Shankar Prasad, Minister of Communications & IT, Upendra Kushwaha, MoS for Human Resource Development, Asaduddin Owaisi, President AIMIM, Abdul Bari Siddiqui, Leader,RJD, P.K. Shahi, Education Minister, Bihar, C.P. Thakur, MP, Rajya Sabha, BJP, Harivansh, MP, Rajya Sabha, JDU, Shaibal Gupta, Secretary, ADRI, Shekhar Suman, Actor, Manoj Tiwari, MP, BJP, Sabir Ali, Leader, BJP, Ali Anwar Ansari, MP, JDU, Tariq Anwar, General Secretary, NCP, Tejashwi Yadav,Leader, RJD, Chirag Paswan, MP, LJP, Ashok Choudhary, State President, Congress, Raghuvansh Prasad Singh, Vice President, RJD, K C Tyagi, General Secretary, JDU, Mohammad Ali Ashraf Fatmi, Leader, RJD, Mehboob Ali Kaiser, MP, LJP and Ram Vilas Paswan, Minister of Consumer Affairs, Food and Public Distribution
The political leadership from the ruling and opposition parties besides other eminent personalities from the Bihar political landscape will be discussing the biggest issues of the state in the run up to the elections. The day is expected to see heated debates on various topics that will add perspective to the state politics and the choice ahead for voters.