Q] What will Polycab’s marketing mix look like after the brand refresh? Can you give a rough estimate of your total marketing spends?
We believe that we will continue to invest in marketing, focussing on both traditional and new media. In the traditional format, we will definitely be present on Television, and of course, we have just started an Outdoor campaign for the brand refresh. Further, we will use industry-related magazines and Print. Digital will play a critical role as well. Our brand was seen at the ICC World Cup on perimeter boards and in the mat branding because of our associate partnership with the ICC for the World Cup 2023. In addition to this, there was BTL action within the trade. While we have the current year’s numbers and plans, sharing them would be difficult for now. But it is a very significant investment.
Q] A new TVC came out after the brand refresh. Do you have a brand ambassador for this, and what role does he or she play in Polycab’s strategy?
Brand ambassadors do play a very crucial role in a brand’s journey, and we have been using brand ambassadors over the years. If you look at our journey, I think we have onboarded around three brand ambassadors. Right now, from a strategic framework point of view, we think that the new brand itself is a hero, and we want to make it a hero. In the current narrative, we have not used any brand ambassadors. Having said that, if there is a particular tactical thing that we want to do, we will definitely explore new brand ambassadors who can connect with the brand.
Q] Polycab often leverages big cricket properties like the IPL and the World Cup. What are your goals to reach out internationally?
We are the official partners with the ICC for the Cricket World Cup 2023. We are doing extremely well in international markets, and also getting good volumes on exports. This new philosophy will be much more contemporary and relatable to the international markets as well.
Q] What will be Polycab’s target audience after the brand refresh?
Our brand has two major stakeholders. One is our influencer partner, which consists of electricians, architects, interior designers, MEP consultants, and contractors. The second stakeholder is the consumer who pays the bill. Therefore, we will address both these stakeholders with the new narrative and brand promise.
Q] Polycab posted its highest-ever sales and post-tax profit in fiscal year 2023. What according to you was the reason behind this tremendous growth?
We are on a growth journey, witnessing distribution, expansion and innovation within cables, wires, and even FMEG. All of this combined with our increasing overall distribution and resources has really helped us grow. Of course, in India, our overall growth journey has been quite fast. India is on the cusp of tremendous growth, and so this upshift has helped us in terms of taking the growth forward. We don’t anticipate any major challenges in our trajectory and we believe that we will continue to grow.
ABOUT THE BRAND
Polycab India Limited is the country’s largest Wires and Cables manufacturer and one of the fastest-growing FMEG companies with a consolidated turnover of INR 141+ Bn. in FY23. It is at the forefront of providing innovative, safe and energy-efficient products to diverse customers via a strong distribution network of 4,300+ authorised dealers and 205,000+ retail outlets. Polycab’s business operations span across India through 25 manufacturing facilities, 14 offices and 23 warehouses. It has also served customers in 72 countries.
PROFILE
A seasoned marketing professional with over 24 years of experience, Nilesh Malani has held senior leadership positions. He has transformed the businesses by drawing the focus on creating winning strategies, setting marketing and sales processes, deriving business efficiencies, introducing global best practices in organisations where he has worked. Prior to Polycab, he was working with JSW Steel for close to 6 years where he played an important role in setting up retail business, brand building, bringing in Marketing culture in a commodity business and designing a route-to-market strategy, among other things.
FACTS
Creative Agency: Ogilvy & Mather
PR Agency: Adfactors PR
Media Agency: Madison World
Social media agency: FCB Kinnect
