GroupM’s Modern Marketing Reckoner Decodes Today’s Reality, Tells Marketers ‘Everything is Possible’

by  EVENTFAQS Bureau Industry Watch | December 16, 2020 | News

GroupM Modern Marketing Reckoner

GroupM, along with the Mobile Marketing Association (MMA), has just released the ‘Modern Marketing Reckoner’, which is a detailed and conceptualized report keeping in mind the business and ecosystem situation in 2020. While the first half of the report talks from a consumer sentiment perspective and the impact it has had at a socio-cultural level, the second half of the report focuses on providing a modern marketing reckoner to marketers on the key strategic tentpoles they should look at, so as to navigate the ambiguity and the uncertain business and economic landscape. It is themed ‘Everything is Possible’, because “uncertainty is not where things end, the flux also signifies opportunities”. It says if modern marketers can apply deep insights to understand the changing landscape that will emerge, they will have an advantage. Those businesses that are outcome-driven and mobile-aligned will be ready with their renewed business models, brand offerings and media strategies to usher hope and dynamism.

Key highlights of the report include:

•54% of businesses have been impacted by COVID in India, of which retail, travel and tourism have been hardest hit.

•34% of business respondents have increased digital media budgets while 23% have focused more on e-Commerce selling.

•Almost 90% of people agree that they are more careful about how they are spending their money.

•50% of people have delayed big purchases and almost 38% have cut down on day-to-day expenses.

•Hardest hit are the discretionary categories – 77% have reduced eating at restaurants; 55% have reduced buying clothing and fashion accessories and 48% have reduced spending on consumer electronics.

•What has seen a positive impact are the areas related to health and hygiene – 29% are exercising more at home, 24% are consuming more vitamins and supplements, 23% are spending more on groceries.

•Among the digital-first timers, 45% streamed movies, 43% got WFH software, 33% used an e-learning app, 28% purchased grocery online and 22% consulted a doctor online.

Prasanth Kumar, CEO, GroupM South Asia said, “In this current wave of uncertainty and ambiguity, it becomes even more critical for marketers to measure ROI and therefore, invest in data and technology to do the same. The pandemic has triggered a definite shift in the consumer and the business landscape but if we display rigour and foresight and use effective advertising and modern marketing models, we can help businesses stay on top. This year, with the report we wanted to decipher the changing face of content and influencers, new communication formats and channels, and the ways to build powerful brands.”

“The reckoner underlines the marketing industry’s certainty when it comes to the rapidly expanding mobile channel. The industry, on the whole, recognises that the modern era of the market is upon us and we need to embrace it. This new age of marketing is going to be built on tools and technology that this report helps to outline along with great examples through the lens of various industry leaders who are the torch-bearers of this change, helping shape the future for marketers and agencies in India and abroad,” said Rohit Dadwal, Managing Director, MMA Asia Pacific.

Tushar Vyas, President, GroupM South Asia commented, “Modern marketers will have an advantage if they can apply deep insights to understand the changing landscape. In this period of uncertainty, we need to be more outcome- driven and mobile aligned to usher hope and dynamism into the life of the consumer again. With this report, we wanted to address the huge changes in the industry and talk about the new ways to embed data into every part of the business.”

Rajesh Ramakrishnan, Managing Director, Perfetti Van Melle India added, “We have seen unprecedented changes in 2020 and this has an impact on consumer and shopper behaviour as well as on our media consumption habits. Yet, even as many things change, some things remain constant- for brands to stick to their fundamentals- develop relevant differentiated products, build iconic brands, expand reach, and create engaging communication. This report, as always is on the basis of extensive research and nicely encapsulates the changing landscape and the key considerations that marketers need to keep in mind as they navigate through 2021 and beyond.”

Sandeep Bhushan, Director & Head of GMS India, Facebook said, “We are experiencing unprecedented shifts in consumer attitudes and behaviours due to the pandemic. A significant digital acceleration has happened on the back of social media, and with over 400 million Indians connected on the Facebook family of apps in India, mobile is now central to media consumption and business impact. To build on the opportunity, businesses need to adopt the immersive tools on the platform, pivot the media-mix and measure true incremental business outcomes. Our playbooks for the new normal in partnership with GroupM and Ogilvy are now available for all marketers to accelerate growth.”