In his book ‘Quantum Marketing: Mastering the New Marketing Mindset for Tomorrow’s Consumers,’ Raja Rajamannar, Chief Marketing & Communications Officer, Mastercard, says that in an era when marketers can impact business results in unprecedented and powerful ways, it is ironic that marketing is facing a “serious existential reckoning” as a result of three dynamics - the huge technology transformation, tremendous advancement in data analytics, and changes in consumer behaviour driven by mobile and social media; marketers being unable to connect business outcomes to their marketing investments and actions credibly; and lastly, too many marketers being stuck in a narrow view of what marketing can do and how it can drive the business.
He further writes, “At one end, contemporary marketers are linear, analytical, and obsessed with A-B testing, data crunching, and technology deployment. They couldn’t care less about the classical, foundational elements of marketing, like brand positioning, consumer psychology, or creative finesse. They are focused on performance marketing and the outcomes thereof, but not the ‘why’ behind them. On the other end, you have classical and innovative marketers, who are strong in the traditional areas of marketing, but have no clue about business models, digital technologies, or data analytics. The right mix, and one that has been largely missing, is found in executives who can straddle these two distinct marketing genres, blending the right and left-brain capabilities, combining creative sensibilities with a command of data and technology.”
To make things better or worse, Rajamannar predicts an inflexion point, the Fifth Paradigm of Marketing led by new technologies like artificial intelligence, augmented reality, 5G connectivity, the Internet of Things (IoT), smart speakers, wearables, and blockchains, that are poised to transform consumers, marketers, and marketing itself radically. He calls it ‘Quantum Marketing’.
The following discussion, where we talk to CMOs, Marketing Heads, and Directors - both young and old - of leading organisations to understand how they are balancing this equation and preparing for the ‘quantum future’, is inspired by these and more such pertinent questions. Beginning with the seasoned ‘Old Guards’, the ‘50-something’ marketers who have navigated both worlds, we move on to the ‘Young Guns’—the ‘35-something’ - who are earnestly figuring out ways and means to incorporate, or rather hold on to the classical roots, in the fast-changing landscape.
THE OLD GUARD
Shyamala Ramanan
Business Head, Mia by Tanishq
Q] How has the rise of martech and the real-time availability of large, diverse data sets changed things for you as a marketer?
It’s not a radical gear shift that has happened over the years. The fundamentals of marketing that are based on consumer centricity remain unchanged. Earlier, we used traditional methods of market research to understand consumers. Now with a lot more data available, the understanding, segmentation, and targeting have become enhanced and easier. However, the acumen to prioritise the information one has comes with experience.
I would say that the marketers’ intuition is like Mia’s fine jewellery; it’s a fusion of information and instinct. How you, as a marketer, view the data is what humanises it, and one key challenge is staying impartial or rational when you are analysing data. I may have a strong viewpoint, but if the data contradicts it, I cannot bend it to my liking.
Q] How often does your intuition align with what the data has to say?
I don’t think we can put a number to it. All of us would like to believe that we understand our consumers really well, but sometimes data tells a very different story. There have been such instances in my journey as a marketer. There are times when you trust the numbers and go ahead. However, as a brand, sometimes the idea is to disrupt or shake up the market. That’s when you go ahead with your hypothesis even when the data is not in sync. Also, a lot of data is available historically. While it does give us some forward-looking insights, at times, you just have to take a bet based on your intuition.
Q] As a marketer, how easy is it to get carried away by the lure of using every new tool that is introduced?
Again, I will go back to my principles- you are in it for the consumer, and everything is centred around her and her needs. If AI helps me reach her faster, at the right time and place, if it helps me churn out creatives faster or understand her preferences better, then I will surely use it. Another example of a tool I would like to use is something that, perhaps, helps in training our sales staff. It’s certainly not about being first in the race, but about understanding how a particular tool adds value and how it is relevant. You have to tread with caution and reasoning, being able to deploy the tight budgets in the best possible way. It’s a continuous learning process, a continuous evolution.
Ajay Singh Parihar
Vice President - Healthcare & Ayurvedic Business, Dabur India Ltd.
Q] What’s the biggest change in marketing since you first started, and how has that shift influenced your dynamic with the younger, marketers on your team?
I started working around 1997-98, and the biggest change for me has been the dynamism with which we refer to data today. We always had data, but the amount, granularity, and frequency at which it can be accessed today, combined with the plethora of tools to analyse and interpret it, is mind-boggling.
It’s certainly not a shock for those of us at the leadership level, but the good thing about youngsters joining the team is that they have always had this kind of exposure and are slightly more agile with data. They can help understand or interpret it better by bringing a different perspective. Earlier, discussions between the teams used to be ‘my word versus your word’. Today, it’s ‘my data versus your data’. Most of the time, because the data set is common, only this interpretation is new.
Q] Given the emphasis on data, do you consciously look for talent from the AI, ML, or Data Analytics fields when hiring for your team?
That has not been a criterion for us so far, but we want people with a first-hand understanding of how to use, understand, and interpret data. We may not look at a proper degree in these fields, but short-term executive or online courses, like even those on LinkedIn and Google certifications, demonstrate an enthusiasm that is always welcome. In that sense, there’s surely a preference to have somebody with an understanding of data, AI, etc. or someone open to learning because, as time progresses, these skills will become critical for marketers.
Q] How much time and effort do you put into upskilling yourself and your team members?
Dabur invests significant time and energy in upskilling people in leadership roles. Also, we keep conducting periodic refresher sessions internally. In fact, during the pandemic, I did an 11-month course in ‘Leadership in the Digital Era’ from IIM Lucknow, funded by the organisation.
Amit Mathur
President – Sales and Marketing, Finolex Cables Pvt. Ltd
Q] How has the influence of technology changed the decision-making process for marketers? To what extent are your decisions influenced by technology, and how much of it is guided by the ‘good-old marketer’s instinct’?
The integration of digital platforms and data-driven decision-making has reshaped the marketing landscape, making it more dynamic and result-oriented. But still, I feel the traditional approach to initiating a campaign or launching a new product in the market is crucial. I prefer leveraging old-school marketing instincts alongside a tech-driven approach, which provides data-driven insights, analytics, and automation. This combination, infused with a human touch and emotional intelligence, results in a well-rounded and highly effective marketing strategy. The approach has proven successful for us in the past with various campaigns.
Q] How much of a stereotype is our hypothesis that marketers over 50 emphasise instincts over tech?
The hypothesis that experienced marketers emphasise on instincts more than tech/data is not necessarily a stereotype but can be rooted in knowledge, involvement in the industry, and practicality. It’s important to recognise that marketing has evolved significantly, with technology playing a pivotal role. However, the marketer’s instinct often reflects a wealth of experience and understanding of consumer behaviour that experienced marketers bring to the table. It’s not about discounting technology, but blending it with the wisdom gained over the years. Some seasoned marketers embrace technology, while others may lean more on their experience. However, it is important to blend knowledge from both dimensions to make the brand successful.
Q] What is your vision for the future of marketing, and what advice for the younger generation of marketers?
I see a world where the creative and the analytical marketers coexist harmoniously. It’s a future where the experienced train the young marketers to become the pioneers that wield the power of cutting-edge technology and data while never losing touch with the human side of marketing. A future where we embrace tech-driven journeys and cherish the art of genuine connections.
My advice to the youngsters would be to equip yourself with the latest tools but never underestimate the value of empathy and storytelling. Stay curious and agile, for the marketing landscape is ever-changing. Strive for a perfect blend of data-driven insights and authentic, human-centric engagement. Your ability to strike this balance, adapt, and tell compelling stories will set you on an exciting path of success and innovation in the marketing world.
TIMELESS PRINCIPLES FOR A DIGITISED FUTURE
Rajeev Jain, Senior Vice President, Corporate Marketing - DS Group, started his journey as a marketer almost 30 years ago. Having seen both worlds, he opines that while the basic principles of marketing remain the same, Digital has added more dimensions, so much so that he considers it not just another channel of marketing but an entirely new paradigm. “Earlier we spoke of consumer journeys in terms of awareness, desire, and action. Today, advocacy has become a critical aspect for marketers as it wields huge influence over the consumers’ final decisions. Communities of people sharing common interests, passions, and lifestyles play a crucial role in identifying target segments. As a spice, brand cooking enthusiasts have become extremely important for me. Advertising itself has evolved into content and conversation, which is consumed by choice. There’s a lot of interesting things happening,” he says.
Living by the mantra ‘Digitise or Die’, Jain believes that irrespective of the level of experience and seniority, a marketer has to learn every day. “I try to upgrade myself through a lot of reading, interaction with agencies, and training programs, and I also encourage my team members to do the same. This helps bring new ideas to the table, and my role as an experienced professional is to evaluate these ideas for the value/ROI they can bring. You develop that understanding and thought process with years of experience.”
He reckons that the future of marketing will be highly AI-enabled – data analysis, predictive modelling, and RoI measurement are where AI will play a dominant role. Customisation, advanced segmentation, and micro-targeting will become critical as consumers become increasingly demanding. Commenting on the kind of talent he is investing in to build the Digital future at DS Group, he adds, “The rules will continue to evolve rapidly. We therefore recommend and prefer talent who is equipped with the latest in tools and technology, but without compromising on the fundamentals. A thorough understanding of consumer journeys and behaviour is a must. As I said earlier, Digital is a whole new paradigm, and the new-age marketer must be able to envision the concepts of traditional marketing in this new world.”
According to Viral Oza, former Chief Marketing Officer - Mahindra Lifespace Developers Limited, the core of marketing is to help grow the brand and business. While that core remains intact, how these objectives are achieved has changed and become rather complex. “The impact of technology is growing exponentially, but our intuition about the future is linear. Marketers have to get comfortable with the reality that what they think is impossible might happen,” he elaborates.
Oza further points out that the rapid pace of advancements in Digital technology has posed some very pertinent challenges for marketers today. “One of the biggest challenges for the CMO today is to resist what is called the ‘New Toy Syndrome’ - how do you judge the MarTech tools rolling out every day for their utility and relevance for your brand? One has to be clear about what the business needs and what is the best way to fulfil them. Another aspect is that because there’s so much data and pressure on RoIs, it pushes us towards rational, analytics-based decisions. We should not forget that ultimately, we are dealing with human beings who, as consumers, hardly make any rational decisions. We are trying to understand this emotional creature through data. I don’t say it is impossible, but data only tells us how consumers behave and not ‘why’. That’s where the marketer’s instinct comes into play.”
Commenting on the impact of technology on the decision-making process for marketers, he adds, “While strategic decisions that rely on customer/market understanding, business goals, and a host of other things are less affected by MarTech, it has drastically changed the execution of those decisions or plans in terms of how to engage with customers and bring the brand proposition alive for them through better experiences and creative options at multiple touchpoints. It’s a mix of both experience and insights across the board.”
A Gen X marketer, Preetam Saikia, CEO, The Designer’s Class, started his career marketing to the baby boomers. From there, he transitioned to his generation, then to millennials and Gen Z, and now to Gen Alpha. The ease with which he adapted to these changes is rooted in his belief in the fundamentals of marketing.
Commenting on the evolution of these principles, he says, “Technology has made things easier and quicker for marketers today. For example, earlier you had to go through hordes of data to figure out your Segmentation, Targeting and Positioning (STP). It was time-consuming and tedious, but today it can be done in a matter of hours. Personalisation and automation are other advantages of working in the current environment. However, while you do have a lot of data and tools, the success of your brand lies in being able to use them creatively.”
Saikia shares the brand’s ‘Mai Bhi Designer’ campaign as an example of this synergy. “The campaign was based on data from our Instagram pages. We figured out that many designers who are not that well-known or not from the big cities were engaging with us. From that data sprang forth this piece of creativity called ‘Mai Bhi Designers’ featuring small-time designers from all over India. We encouraged them to come to our Instagram Page and talk about their design journeys.”
The anecdote, he says, should assure us that the Marketer’s Instinct is ever intact and relevant, even as a new class and generation of marketers with a new skill set come in. Saikia tells us that his current team profile is “a mix of tech and business-oriented minds, all with a knack for learning marketing. I have people from sales plus Google background, others who are sales plus CRM, and some have done only commerce but are great at social media. However, I do prefer people with experience in sales. It teaches you the most about consumer behaviour and marketing.”
THE YOUNG GUNS
Deepal Mody
Senior Marketing Manager, Bharti AXA Life Insurance
Q] Given the current tech-led approach to marketing, to what extent are your decisions based on tech, and how much do you rely on your seniors’ experience? Conversely, how open has the latter been to adopting tech trends?
I believe in striking a balance between tech-driven decision-making and drawing from the experience and insights of senior marketers. Technology provides valuable data and tools to optimise campaigns, but the wisdom and historical context that senior marketers offer are equally invaluable. I prefer a collaborative approach, combining data-driven insights with experience to make informed decisions.
Industry veterans who have already established themselves will have a wealth of knowledge that can be turned into insights that even today serve as the starting point of any marketing campaign or communication. Yet they recognise the importance of technology and are willing to integrate it with their strategic insights to scale up marketing efforts.
Q] Please share any instances of knowledge/skill sharing between the two generations of marketers in your team. What are the interpersonal dynamics at play?
One instance of knowledge sharing involves collaborative brainstorming sessions. We often see younger marketers with a good sense of syndicated research on any topic, and they blend innovative digital strategies and technology trends. However, to some extent, the in-depth sector insights still vest with senior team members. The interpersonal dynamics are collaborative and respectful. To succeed in this dynamic environment, professionals should possess qualities like open-mindedness, adaptability, effective communication, and a willingness to learn from each other both professionally and personally.
Q] Were there any instances when you came across resistance from your seniors and how did you work around it?
Resistance to change is not uncommon, especially when introducing new tech-driven approaches. To overcome it, emphasising the benefits of these changes, providing training and support, and showcasing success stories from similar transitions might prove helpful. Encouraging open dialogue to address concerns and involve team members in decision-making, making them feel invested in the change.
Kush Aggarwal
Head of Marketing, Bikano
Q] Experience or Tech - what informs marketing decisions at Bikano?
At Bikano, we believe in a balanced approach to marketing decisions, drawing from both technology-driven strategies and the invaluable experience of our senior team members. We recognise the transformative power of technology in today’s fast-paced digital landscape. Data analytics, AI-driven insights, and digital marketing tools are significant in shaping our campaigns, understanding consumer behaviour, and optimising our reach.
However, we also value the wealth of knowledge and insights that our senior team members bring to the table. Their years of experience in the industry provide a unique perspective and a deep understanding of market trends, customer preferences, and effective marketing strategies. These often serve as a guiding light, helping us to navigate complex market scenarios and make informed decisions.
Q] When hiring talent, how do you ensure you have the right mix of experience and tech-oriented minds?
We prioritise a balanced mix of experience and tech-oriented skills. We recognise the importance of having seasoned professionals who bring in-depth industry knowledge and insights. Their experience provides valuable perspectives and helps guide our strategic decisions. At the same time, we actively seek out individuals with strong tech proficiency. In today’s dynamic business landscape, staying ahead of technological trends is crucial. We look for candidates who not only understand the latest technologies but are also adept at applying them in practical business solutions.
Q] How does your experience beat these stereotypes that the older generation of marketers is tech-averse?
I’ve found that many marketers over 50 recognise the significance of technology in today’s marketing landscape. They understand its role in reaching broader audiences, analysing data, and enhancing customer experiences. As a result, a significant number of seasoned marketers actively seek to integrate tech-driven strategies into their decision-making process.
At the same time, some may prefer to rely more on their experience and instincts, drawing from their wealth of knowledge accumulated over the years. This approach can also yield successful results, especially when combined with a willingness to adapt to emerging technologies. Ultimately, it’s essential to recognise that effective marketing strategies can emerge from a blend of experience and tech savvy. I’ve seen individuals from diverse age groups contribute significantly to our marketing efforts, each bringing their unique strengths to the table.
Samir Sethi
VP & Head of Brand Marketing - PolicyBazaar
Q] How has marketing changed with the influence of technology and how well-equipped are marketers, across age groups, to navigate these changes?
It depends on the category of business, and how advanced the sector is on the digital landscape as well as on the organisation. Banking or fintech is one of the sectors that has adopted a lot more technology than some traditional businesses. And so, I have seen that the senior marketers in this field are quite adept at technology. They hire subject matter experts where needed, but everybody has a certain orientation and comfort with using data and technology extensively.
Q] How heavily is your role influenced by tech? Also, how do you hire for your team?
Creating a highly optimised media plan to make the best use of your marketing budget involves crucial decisions such as segmenting the audiences based on various factors, the combination and sequencing of ads to be served to them, the target geographies, etc.; continuously measuring the impact on business; and course correcting whenever required on an almost real-time basis.
I don’t believe a marketer can do all of this without the intervention of data and technology. Most of these tasks are performed by our in-house teams, and we also have external partners for specialised projects, whenever required
Q] What role does the ‘marketers’ instinct’ play in your field of business?
Data is not just a brilliant aid but a critical requirement for decision-making, and technology helps execute these decisions. Your instinct or judgement as a marketer based on years of experience helps you steer the efforts and inputs in the right direction throughout the marketing process. Marketing is a combination of both. Ultimately, it’s a human decision, but many times, data or technology help in validating certain hypotheses, which makes decisions less prone to error.
MUTUAL RESPECT
The present tech-led marketing landscape has certainly earned younger marketing professionals much acclaim for their agile, adaptive, and relevant-for-the-times skills. However, they share a similar respect for timeless marketing wisdom and valuable professional traits embodied by their seniors.
Says Nidhi Gupta, CMO of French Essence, “The seasoned cadre of marketing professionals brings a set of attributes characterised by patience and steadfastness—a trait discernibly scarce in the younger generations. The ability to remain tenaciously committed to a chosen course of action, amidst the relentless flux of contemporary paradigms, stands as their hallmark. This unwavering persistence amid an era defined by change is an invaluable asset.”
Gupta thinks that the relative emphasis on instincts, insights, and technology-driven approaches in marketing is contingent upon a dynamic spectrum of factors, transcending generational divides. This belief is what informs her hiring decisions. “In the realm of talent acquisition, our strategy pivots on the nuanced interplay between experience and tech-savvy acumen. In a bid to create a multidimensional team encompassing diverse skill sets, we maintain a core in-house team complemented by outsourced digital marketing expertise. This equilibrium ensures a seamless blend of industry acumen and contemporary technological prowess.”
As a technology company, technology plays a pivotal role in various facets of the decision-making process at Hisense India, yet the importance of intuitive marketing for the company cannot be overstated. “Technology equips us with data-driven insights, in-depth knowledge of market trends, and a thorough understanding of customer behaviour patterns. Simultaneously, the expertise and instincts of our seasoned team members provide a nuanced perspective that synergises with and elevates our strategies,” says Vipin Yadav, former Marketing Head, Hisense India.
When it comes to assembling talent at Hisense and Toshiba TV, Yadav places a strong emphasis on cultivating a diverse and dynamic team. “Our current team consists of seasoned professionals with extensive industry knowledge. They are complemented by a cohort of young, tech-savvy minds who not only bring fresh insights but also employ innovative approaches. We prioritise assessing the attitude of potential talent to ensure they are committed to introducing new perspectives and novel ideas to our team. In that respect, I’ve observed valuable knowledge-sharing moments between generations of marketers. Bridging generational gaps requires effective communication and storytelling skills to help everyone understand the context,” adds Yadav.
Manish Agarwal, Co-founder & CMO - PrepInsta, has a similar approach to maintaining a balanced team profile. “We prioritise specific skill sets for tech roles, ensuring proficiency in data analytics, AI, and digital marketing. The current team comprises of experienced marketers and data analysts who bring industry knowledge, complemented by young tech-oriented minds adept at the latest digital tools and strategies.”
Citing an instance where one of his seasoned team members shared detailed insights and practical tips on building long-term client relationships with the educational institutions with which the company collaborates, Agarwal states, “His perspective, rooted in years of experience, was enlightening for the team. Older professionals often bring a wealth of industry-specific knowledge, extensive networks, and a deep understanding of market dynamics. They excel in relationship-building, strategic thinking, and crisis management, owing to their years of experience. Their seasoned insights into customer behaviour and market trends can be invaluable. Moreover, they typically have well-honed communication and leadership skills, making them effective mentors and leaders within the team.”
The shift from classical textbook marketing to today’s tech-led approach is profound and palpable for marketers irrespective of age, experience, inclination, and/or field of operation. As we enter the ‘fifth paradigm’, in addition to all the above factors, as marketers have a world of data and insights available to them, the ‘human or emotional aspect’ touched upon in the discussion will become indispensable as ethics come into the picture in a big way. Classical or new age, the success of marketing will almost certainly hinge upon such considerations as well.
