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Experiential Marketing and Swadeshi Movement in India

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Experiential Marketing in recent years is catching the momentum and more companies are gearing up to start such campaigns to attract consumer’s attention emotionally, practically and rationally. Its aim is to create some kind of connection between a product and consumers. It allows consumers to respond to a product emotionally and/or practically. Experiential marketing campaigns need to be creative and ad campaigners must be aware of their target audience and site locations.

Gone are those old days when advertisements used to be jingles or mere a poster, now there is a steep increase in the number of television ads which involve the viewers emotionally, either through their sense of humour or by leaving tears on their eyes but still getting a positive attention towards their product. However, experiential marketing is not restricted to the television ads, but various campaigners have used their creativity to attract the consumers to their product by allowing them to interact with the advertisement in the physical world.

Some Interesting Examples of Experiential Marketing

 

One of the recent and very popular experiential marketing campaign was executed by Coca Cola in National University of Singapore. A vending machine was installed which would give a free can of Coca Cola when hugged tightly, this became very popular with students of the university and the campaign became very popular worldwide that almost all the major business and news journals covered it. It was a creative idea implemented by Oglivy and Mather of Singapore for the cola company. Leonardo O’Grady, ASEAN IMC director of the Coca-Cola Company explains: “Happiness is contagious. The Coca-Cola Hug Machine is a simple idea to spread some happiness. Our strategy is to deliver doses of happiness in an unexpected, innovative way to engage not only the people present, but the audience at large.”

 

coca cola hug machine
Coke Hug Machine in National University of Singapore, Source unknown

World renowned automaker Volkswagen surprised newsreaders in India on 21st September, 2010 by giving them the first of its kind experience of a talking newspaper. As soon as readers opened the Times of India or The Hindu newspaper; a light sensor would activate a recorded advertisement announcing the arrival of “a perfectly engineered car” – the Vento. It not only did help Volkswagen, but also the newspaper companies which received appreciations by the readers. This creative idea was implemented by DDB India. Speaking on this, Lutz Kothe, head of marketing & PR, Volkswagen Passenger Cars, Volkswagen Group Sales India, said “At Volkswagen, innovation is a way of life, it extends beyond our cars to even the way we communicate which reflects in this initiative.”

 

BBC see both sides of the story
BBC World ‘See both sides of the story’ ad

 

BBC started utilizing the corner walls for their campaign “See both sides of the story” this advertisement literally allowed the public to see the two sides giving the message that BBC has an unbiased approach and covers both the sides of the news from every point of view.

 

Folgers coffee street ad
Folgers Coffee Street Ad
Folgers coffee in New York City turned ordinary man holes into steaming cup of hot coffee. In the busy city like new york where finding a banner space to showcase your ad is also difficult, Folgers came with an idea of using man holes for their advertisement campaign. Which no one would have ever thought of before, it is not just extremely creative, but it is also impossible to be missed as millions of people walk on the streets of New York everyday.

 

duracell escalator ad
Duracell Escalator ad

 

Duracell used the escalator’s base to advertise their batteries. The campaign involved placing a 3D sticker of Duracell batteries showing as if the escalator is being powered by their batteries. This gives an impression of the high power and potential of their product, although it may not be possible to power a whole escalator with a pair of two standard AA size battery cells.

 

While all over the world innovative ideas have been coming up to create a difference on how consumers behave towards their product, Television ads have reached a new high in attracting consumers with their all emotions involved as people cannot interact as much physically as in real life, the only scope for the advertisers is to directly strike consumer’s passion and emotions.

Swadeshi Movement Connection

 

In India, Indian companies have been using experiential marketing with the formula of their national identity. Time to time companies create advertisements to make Indian consumers aware of their Indian origin. Such campaigning idea has its roots in Swadeshi movement. It was a movement to weaken British Empire in India economically and create better economic conditions within India and Indian people by abjuring English products and using only Indian made and Indian origin products. As described by Mahatma Gandhi, the movement was of utmost important  for swaraj (self rule). The movement was mainly propelled by Aurobindo Ghosh, Lokmanya Bal Gangadhar Tilak, Bipin Chandra Pal and Lala Lajpat Rai who were full with enthusiasm and anger after the partition of Bengal.
People gathered and burnt all the imported clothes and products they had, they boycotted buying any foreign product, even imported sugar. Local industries, handicrafts, small scale workers and farmers gained a lot, creating a better integrated economic structure among Indians and demoralizing English rulers whose one of the main purpose of being in India was its market.
Indian companies are still active in tapping that general mindset among Indian people and making them realize their greatness as their products are of Indian origin. It could be another form of experiential marketing as it is only on television, but still allows consumers to interact with their emotional senses. Watching such advertisements on television, consumers are able to connect to those times when their ancestors or they themselves had struggled to get rid of the foreign rule. It fills the public with enthusiasm, patriotism and passion and allows them to better interact emotionally with the product.
Today almost all the major Indian brands have harnessed the potential of Swadeshi movement in the current scenarios. Videocon coming with the tag line “Indian Multinational” in their ads became very famous at the time when Indians realized that the country is moving ahead with a very fast pace. Indian actor Shahrukh Khan would appear on the television sets and say “the Indian Multinational”.
An Indian man would appear on the television screens flying from India to the different countries showcasing the cultural icons of those countries, chanting “vande matram” Aditya Birla Group came up with the tagline “Taking India to the World”, making Indians realize the value of their company how they are making the brand name “India” more popular in the world.
TATA group came with an advertisement showing a little girl how proud she was to see an Air conditioner, which is still out of reach from for many Indians living in Indian villages. The girl insists on Voltas Air conditioner’s Indian origin and says “India ka AC” (Air conditioner of India). Voltas air conditioners are considered to be cheaper, more efficient and powerful.
When India opened its doors for the international companies after liberalizing its economy in favour of globalization in 1991. There was a fear that local Indian companies might lose in competition with the matured brands from the developed world. However, today almost in any sector Indian companies are able to outperform their foreign counterparts. There are many reasons for this, one being that Indian markets were opened quite at later stage when government had realized that Indian companies have got matured enough. But one of the major reason is also that Indians of today’s generation have started preferring India brands once again which is indeed because of such advertisements that connects people to Swadeshi movement.

Taking example of the auto industry, three out of top four auto companies in India are Indians by their market share. Leaving behind other companies who have a great foothold all over the world.

  1. Maruti – 40% (India)
  2. Hyundai -13.88% (South Korea)
  3. Tata – 13.12% (India)
  4. Mahindra – 7.89% (India)

Source: rediff.com

Recently India observed telecom revolution, which has penetrated even the remotest parts of India, this was due to the result of aggressive competition between government-private and private-private companies. Today almost all the big names in India like Tata, Aditya Birla Group, Videocon, Reliance, Bharti are in telecom business. Again among the top four mobile carrier services in India, three are Indians.

  1. Airtel
  2. Vodafone
  3. Idea
  4. Reliance
When it comes to bank, Indian banks receive tough competition from global players like Citibank, HSBC and Deutsche Bank, however when it comes to the best banks in India including foreign and domestic, all top seven positions are occupied by the Indian ones.

 

best banks in india
Source: Business Today

 

Experiential marketing is anything that allows users to interact with their products either physically or emotionally. Some creative campaigns can become so popular that they might start attracting consumers out of the targeted area bringing more profit, revenue and popularity. Implementing such creativeness could be costly, but if researched and analyzed properly, it can bring good results, especially brand popularity and name.

 

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Sanskar Shrivastava is the founder of international students' journal, The World Reporter. Passionate about dynamic occurrence in geopolitics, Sanskar has been studying and analyzing geopolitcal events from early life. At present, Sanskar is a student at the Russian Centre of Science and Culture and will be moving to Duke University.

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How To Improve Your Relationship With Your Customers

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As a company owner, you should always be aiming to improve your business by whatever means necessary. After all, when your business evolves over time, it means that you are adapting to consumer habits and staying on top of current trends – giving your business the longevity it deserves. Thankfully, there are also various ways in which you can go about improving your business. For example, this could include: 

  • Hiring new staff with innovative ideas.
  • Retaining staff who make a real difference in the workplace, reducing employee turnover rates.
  • Investing in new employees by offering unique training programs or giving them a chance to develop new skills. 
  • Developing new products or services that cannot be purchased elsewhere. 
  • Moving from working from within your home and opening up a store or office space. 
  • Updating your business plan regularly to account for your growth. 
  • Brushing up on your finances, ensuring that you stay within budget and spend your money wisely.
  • Reaching out to investors who can help you take your brand to the next level.
  • Introducing a new marketing campaign to increase your brand’s visibility. 
  • Developing a better relationship with your customers. 

While any of the above suggestions are a great way to go about growing your business, the most important is developing the relationship you have with your customers. After all, a business without customers will struggle to stay afloat for more than a few weeks.

With that in mind, here are some ways in which you can begin to develop a better relationship with your customers. 

Know who your customers are. This is perhaps the most obvious ways to improve your relationship with your customers – and it doesn’t mean that you have to memorise every name or face that comes into your store. Instead, you should ensure that you have a clear understanding of your target audience and demographic. For example, while you may have a vision of your typical customer in your head – you need to ensure that this is reflected in the people that actually purchase or use your products/services. There are various ways in which you can achieve this goal. For example, you could: 

  • Monitor consumer habits
  • Host focus groups 
  • Ask for customer information when making a purchase
  • Studying analytics on social media. 

Remember, your target audience may be defined by the following characteristics: 

  • An age group.
  • A gender.
  • A geographical location.
  • Special hobbies.
  • Skills and Interests. 
  • Careers.
  • Lifestyles.

Once you have a better understanding of your target audience, it will be easier to ensure that you are providing them with everything they need. As a result, they will develop a closer affinity to your brand as they feel as though it was made just for them!

Make them feel important. Studies suggest that customers are happiest when they feel important. Therefore, you can improve your relationship with your customers by simply ensuring that you make them feel special. For example, you could attach a note to each order that thanks them for their purchase. Alternatively, you could put a loyalty scheme in place or offer discounts to returning customers – which can help you win over new customers while retaining your old ones. 

Make it easier for them to communicate with you. The key to any relationship is being able to communicate freely with each other. Therefore, you can improve your relationship with your customers by making it easier for them to reach you should they have any questions. For example, in addition to a telephone line, you should give your customers plenty of different ways to contact you. This could include: 

  • A postal address.
  • A customer service specific email.
  • An online chat function.

However, managing multiple different channels like this can prove to be a challenge if you don’t have the right technology at your side. For example, you could use dashboard software, such as those provided by Click4Assistance, to monitor different chats and calls simultaneously. For more information, visit this website

Furthemore, you can also improve the way in which you communicate with your customers by being active on social media. Not only does this mean that your customers can contact you through direct messaging or comments, but it also puts your brand on the map by making you visible to a much wider audience. When curating your social media presence – you should ensure that your content reflects your brand. Don’t focus on overly professional language – instead, try to be as approachable and friendly as possible – as this will help customers relate to your brand. When customers find you approachable, they are more likely to make a purchase. 

Another way in which you can better communicate with your customers is by setting up a mailing list. While they may seem outdated in the world of social media, they are a great way to keep your customers in the loop and let them know about any upcoming product releases. 

Admit your mistakes. As a business owner, how others perceive your brand will likely be incredibly important to you. As a result, this means that you may be keen to bury any mistakes you make so that they cannot tarnish your reputation. However, this is not the right attitude to take on if you want to develop a relationship with your customers – as simply ignoring complaints or negative reviews will only drive them away. Therefore, you should ensure that you respond quickly to any negative complaints and reviews – and work with the customer to resolve this issue sooner rather than later. This also means that you need to be honest about any mistakes that you may have made in the past. Holding yourself accountable will actually make yourself more attractive to potential customers. 

Focus on innovation. If you want to retain customers, you need to ensure that you continue to provide them with new goods or services. After all, it’s unlikely that they will continue to buy the same product over and over again. Therefore, you should work hard to ensure that you remain on top of your game – introducing new and innovative products to the market as often as possible. While this doesn’t mean you should rush to launch a new product or service every month, you should always have a new plan or idea in the pipeline. Furthemore, you should also ensure that the products/services you are working on align with current consumer trends. 

Get online. Another way in which you can develop your relationship with your customers is by making your business more accessible. For example, while many customers may visit your store to make a purchase – others may prefer to shop online. In this case, you need to make sure that your website is up to scratch and easy to navigate. The easiest way to draw in new customers online is by improving the user experience of your website.  For example, a broken link or malfunctioning site does not necessarily make your brand appear trustworthy – while a seamless and functional website will demonstrate your professionalism and help you connect with a global audience. 

Furthemore, you should also ensure that your website is as accessible as possible. For example, you could add audio descriptions of products or text so that those who may be deaf or hard of hearing can navigate your site freely. You should also ensure that you caption any videos or add alternative descriptions underneath images. 

Be great at what you do. Perhaps the simplest way in which you can improve your relationship with your customers by being great at what you do – and providing them with the consistency they require. For example, you should ensure that every aspect of your business is always up to scratch – from product development to administration.  Being great at what you do means that your customers will always stick around and invest their money into your brand. 

Similarly, you should never underestimate the importance of good customer service skills – and you must ensure that every employee is trained within the area. For example, they should be bright, friendly and ready to answer any questions that come their way. This means that they need to develop excellent skills in communication alongside a lot of patience and intuition. This is particularly important when dealing with difficult customers who always complain -but will also allow them to develop lasting relationships with friendly customers too. 

In short, there are various steps you can take to ensure that you improve your relationship with your customers – many of which simply revolve around adopting a ‘customer-centric mindset. By making important decisions regarding your business with the customer in mind, you’ll be able to emphasise the fact that they are at the core of everything you do – thus making your brand appear more attractive and improving retention rates. Furthemore, you can improve your relationship with your customers by making it abundantly clear that you care about them and want to provide them with only the best. Doing so will make it easier for customers to trust you and purchase your products or services.

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What Is Cryptocurrency And Why Is It So Volatile?

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Cryptocurrency has recently made headlines, exploding into the spotlight with the same relentless intensity that characterises its value and demand.

However, as they become more mainstream, they may become confusing. It’s money, but there’s no bank looking after it or controlling it; it’s an asset, but it’s not backed up by anything tangible.

Here is a brief overview of cryptocurrency and a quick look at why it is so volatile.

What is it?

In a nutshell, it is the digital equivalent of money. It is designed to function in almost the same way: users have wallets in which they can keep money, which is used to symbolize value in the economy and can be exchanged for goods or services with others.

Cryptocurrency, like much money in today’s traditional banking system, does not exist tangibly; instead, it is recorded as figures in a database that signify how much of a particular cryptocurrency a certain person has.

However, in contrast to today’s banking system, is decentralised. Rather, it is recorded in the blockchain, which is distributed throughout the network and records transactions in a transparent and verifiable manner that belongs to no one individual or organization in particular.

The first of them was bitcoin, which was developed in 2009 by an unknown individual known only as Satoshi Nakamoto. Since then, a slew of new cryptocurrencies has sprouted up. These include ethereum and dogecoin. It is interesting to look into the background of these, and ask yourself who created Dogecoin?

Why are there so many?

A cryptocurrency can hypothetically be created by anyone; at their foundation, they are just software, therefore anyone can create one. There is no authoritative body that decides what is and isn’t a cryptocurrency.

As a result, dozens of new cryptocurrencies, known as altcoins, have emerged. Some of them have grown into consistent performers, leading to predictions that they could turn bitcoin on its head and become the most valuable cryptocurrency.

Some of these altcoins aim to provide innovative answers to problems that exist with large players like bitcoin, such as making transactions easier or more efficient. Others, such as Dogecoin, which originated as a joke, are developed solely as alternatives.

They sometimes move in sync, with the entire cryptocurrency market fluctuating in response to certain pieces of news. However, traders occasionally switch between currencies, as when the price of dogecoin soared thanks to the support of figures such as Elon Musk.

What makes cryptocurrency so volatile?

Unlike traditional financial assets like stocks and commodities, cryptocurrencies are not valued in terms of what they can be used for; in theory, they are a bet on a company’s future profits or the usefulness of a given material, but cryptocurrencies are primarily a bet on how interested people are in them.

Cryptocurrencies, unlike traditional fiat currencies, do not have a central bank entrusted with employing monetary policy to keep their value from fluctuating too much.

As a result, the value of cryptocurrencies varies dramatically, frequently and without warning, and without always being linked to evident world events.

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Marketing Practices That Could Remain After The Pandemic

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The global pandemic has changed businesses in many ways, and marketing, in particular, has seen a lot of developments over the last year. Businesses have had to adapt to digital practices quickly, which has changed the way they promote their activities. It has also changed consumer behavior, meaning tactics need to change to reach them in new and innovative ways.

While businesses are beginning to revert to some sort of normality, there are some practices that will continue even after the pandemic is over. Discover some of the marketing practices that could be here to stay.

A greater focus on retaining existing customers

The global pandemic has had a huge impact on people’s shopping behaviors. It’s no secret that brand loyalty has been in decline over the years, largely due to consumers’ preference for convenience – especially in the digital age. But the pandemic has made this even more apparent, with many consumers switching brands as a result of supply chain issues and more. For businesses, putting your energy into retaining your existing customers could yield better results than trying to win over existing customers. 

The resurgence of the QR code

Just over a year ago, people might have turned their nose up at the idea of using a QR code in a marketing campaign. Did people know what they were? What did they achieve? Well, thanks to the pandemic, QR codes have had something of a resurgence. Exploring QR code APIs can help you work out how they can be used in your marketing campaigns effectively to bring the best results for your business. QR codes are capable of generating some great data, helping you measure the effectiveness of your marketing campaigns.

Localized marketing

The pandemic has shifted a lot of people away from busy cities and urban areas, and into more rural neighborhoods. This has meant that businesses are having to change their marketing tactics to provide a more personalized, local feel that better aligns with changing behaviors. People are choosing to shop locally and choose local-based businesses, and you’ll need to think carefully about how you can form better engagement with those audiences to help spread the word about your business.

Bigger budgets for social media advertising

With people spending more time at home, they are more active online watching box sets, shopping, gaming and more. This means they might be less likely to see more traditional advertising such as billboards and subway signs. Social media advertising can help you reach those audiences, providing a great ROI compared to other forms of advertising. Ensuring social media is a firm part of your marketing strategy can help you reach your audiences where they are, and even save money compared to your spend on more traditional advertising. 
Change is nothing new for the marketing world. The pandemic has seen some major developments, and as we enter the ‘new normal,’ it will be interesting to see what comes next. Staying up to date on current marketing trends can keep your business relevant, and help secure the best results for your business – no matter what’s happening in the rest of the world.

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