Naveen Kukreja Curated

Co-Founder & CEO at Paisabazaar.com

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This profile has been added by users(CURATED) : Users who follow Naveen Kukreja have come together to curate all possible video, text and audio interview to showcase Naveen Kukreja's journey, experiences, achievements, advice, opinion in one place to inspire upcoming entrepreneurs. All content is sourced via different platforms and have been given due credit.

  • What kind of strategies can fintech companies use at uncertain times like the lockdown?

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  • Has Paisabazaar.com charted out a plan to reduce fixed cost?

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  • Are you partially pivoting towards collection as a business?

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  • How is your relationship with lenders and non-bank lenders amidst lockdown?

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  • What are the talks that you are having with the lending partners in the space of loans that you cater to amidst lockdown?

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  • What could be the kind of saving on a direct vs. regular plan?

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  • Is Paisabazaar.com a free platform or do the customers have to pay for the advice they get?

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  • Do platforms like yours help an investor navigate by comparison?

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  • What is a direct plan?

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  • How is Aadhaar changing the financial landscape?

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  • What are the emerging trends in fintech?

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  • What was the rationale of choosing Kapil Sharma as your brand ambassador for a camapign?

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  • Do you see more value in pushing digital marketing

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  • What are the challenges in marketing a financial service product?

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  • How are you positioning your brand Policybazaar.com in the market?

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  • How do you use customer data for actions in marketing?

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  • How do you manage customer feedback on social channels?

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  • What is the biggest challenge with respect to marketing data and analytics?

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  • How to incorporate the voice of the customer into a real-time response?

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  • How do you tackle the changing expectations of a CMO?

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  • How has the role of the Chief Marketing Officer Changed?

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  • What are the areas of marketing in your company or industry where technology can benefit?

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  • What are the common mistakes marketers make trying to make the ultimate customer experience?

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  • What are the two things that every company must keep in mind while developing its content marketing strategies?

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  • What role does technology play in marketing?

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  • How do you see the category growing in the coming year?

    Although we have been growing at 100%, it’s still in low single digit percentage points as a share of the overall insurance market. The last 3-4 years have been tough on the insurance industry where the growth has been low, and in some cases de-growth. We hope this will change once the new Insurance Bill is passed. It will lead to some capital infusion and more flexibility in the regulation where the regulator will help the industry to innovate and grow. If the overall industry grows, the online as a percentage is likely to grow.

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  • How has your marketing budget changed in the last few years?

    In terms of our focus what we spent on the brand in 2013-14, we more than doubled our brand budget, made it 2.5 times in 2014-15. And we are likely to double our brand budget in 2015-16. It is a high focus area.

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  • How have you used different media vehicles for communication?

    As an e-commerce company, we use Digital media a lot, primarily for ROI driven campaigns such as search or display campaigns. We have started piloting in other Digital platforms such as social media and YouTube. TV works well for us too. Its audio-visual nature tends to give us a better response, and better effect in terms of visibility. We have used Radio in small, focused fashions in certain cities, such as metros where we have a large presence. Since insurance is not an easy subject, it is difficult to communicate it through Print. So we have not used Print extensively.

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  • What has been your strategy to communicate these brand propositions?

    We have done two kinds of commercials. One is focused on car insurance that talks about the savings aspect which is about 20% of the premium for an average sedan. The second communication is around ‘Ullu Mat Bano’ which is about choosing the right product for you. What we see in life insurance is that people end up buying not pure risk cover but a savings product which, if it was explained transparently, would not be a good product for the consumer because it gives returns of about 4-4.5%, which in the Indian environment is not great. Our future communication positioning is also simple. Compare and you will save, compare and you will likely get the right product or you will know about what you are buying, more transparently. We still have an awareness challenge in terms of how do we grow 10 times of what we are today. Right now we are thinking if there is a known person talking about the same message, there’s a good chance it will amplify the message. From a business perspective, increasing awareness is one of the big focus areas for 2015-16.

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  • What is you brand’s positioning in the financial marketplace?

    From the market or consumer’s perspective, it is a unique position. The brand proposition is simple. There are two or three benefits a consumer has and these are played out in our communication. One is that it is very simple to compare and takes only 30-60 seconds. Secondly, by comparing you are likely to save money because there are offerings at different prices and you can choose what suits you best. Thirdly, understanding the right product for you. Our brand positioning is across these three pillars.

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  • How is the monetary push being channelized towards marketing?

    We are focusing on two categories with the capital infusion: brand and communications, and technology. We need to begin with building brand awareness amongst consumers. Right now, we have a good offering, but the reason why consumers won’t think of us is either because they’re not aware or they’re aware but not confident. In the last four years, persistency has grown to 95% for online versus about 65% for offline in insurance. We need strong technology at the back end to make sure we’re integrated with all insurance companies. Now that we sell online, we try and integrate end-to-end for which we have to join with their operations engine for a seamless experience. We are also trying to integrate with their policy issuance process. This requires a lot of integration at the back end and hence technology is the second big push.

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  • What is your philosophy as a company?

    The insurance industry has had some challenges which form the basis of our philosophy. With limited options, consumers have trouble researching products. Looking at persistency data, while contracts are usually for 10-15 years, only about 25% people typically stay with the policy at the end of five years. We offer one platform for comparison where consumers can pick from across 40 odd insurances and everything is transparent since it’s an online platform. We also play an advisory role matching consumers with the right product. We try to convert these principles in our marketing communications. So far it has been about comparison between different options. We have also evolved so that consumers can buy policies online. At the moment we roughly get 2.5 million visits a month, and about 1.8 million are unique visitors. Of this, about 35,000 people buy policies online and complete the end-to-end transaction from us. Across all kinds of insurance that are growing at about 100% a year for the last 3-4 years, we are almost doubling it every year.

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  • How is the app performing in comparison to the website?

    We launched the Android version in December and the Apple version in mid-January. It is very recent but we are seeing positive feedback. From 10% last year, about 25% of our visitors are coming through mobile now, both app and WAP combined. Mobile traffic is going to increase and we will have close to 50% or even higher consumers accessing us through mobile next year same time.

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  • What are the marketing efforts for your new offering PaisaBazaar?

    Our marketing initiatives on this front are also getting rolled out during the World Cup. The genesis of PaisaBazaar was essentially that we have been doing insurance comparisons for the last 4-5 years; we believe there’s a similar opportunity in other finance products. The proposition was similar, to offer a platform which provides choice and comparison of all banks. We started with payday loans 24 hours and credit cards, and are thinking about adding mutual funds and savings options in the future.

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  • How is PolicyBazaar.com leveraging its association with the ICC Cricket World Cup?

    We chose the ICC Cricket World Cup over IPL due to its timing. February and March are important months from an insurance perspective. We were able to get some interesting options within our budget. Since we are experimenting for the first time, we are not going to be massive like an Airtel or Hero Honda, and won’t spend on those lines. During the World Cup, we are using TV as a dominant medium. We are going to be present on HD as it is more in line with our target segment. We are one of the broadcast sponsors for the World Cup telecast on the Star Sports HD channels. As a sponsor, we get to dominate the World Cup across 34 key matches. We have also taken the highlights section of Star Sports SD on the evening time band. We had taken around 20 spots for the India-Pakistan match. On social media, we are currently doing a campaign called #CompareKar since comparison is at the core of our brand. The campaign leverages our partnership with the Cricket World Cup to innovatively engage with the audience. It was trending during the India-Pakistan match on Twitter.

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  • Thoughts on how lending could look post lockdown?

    If you look at pre-2008, the banks & NBFCs were focused on prime segment who had good track record in terms of credit history and that was their bread and butter business. There were few banks who were testing out to lend to the sub-prime/below-prime segment, but it was comparatively very very small as compared to the demand for it. At the same time, If you look at any developed market in the West in below prime, sub-prime, new-to-credit segment, there they have a far more better developed ecosystem in terms of lenders who are available to lend to them by using data to set pricing and risk-ratios. In India, that ecosystem was starting to develop pre-2008 but got wiped out then. So this large white space we saw FinTechs in SME & salary trying to get a share of the pie. In the last 12 months it was getting aggressive and nobody had actually tested while everybody was clear on the white space opportunity with funding available. A lot of people who weren’t from lending who had not seen 2008 they were getting into business based on certain hypothesis, where things were hunky dory. I think if things are in control my view is that it will be great validation from separating the men from the boys from people who were focused on right risk and people who were generally kind of getting in due to availability of funding.

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  • What is the operational impact on Paisabaazar amidst lockdown?

    We’ve cut down our marketing, some non-people fixed costs have been reduced and continuously monitoring and trying to optimise. On the people front, we’re watching it closely and haven’t taken any decision, what we have told our employees is that we’ve protected everybody’s salary till June 30th. To be honest, it does depend on how the environment shapes up in 2nd half of May and June onwards.

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  • What are the conversations with lenders looking like?

    We are the largest marketplace working with 100+ lenders ranging from largest bank to smallest FinTech lender. Over the last 45 days I have almost spoken to all lenders to try and understand how differently they are thinking and how they’re going to tackle. On the positive side, the biggest theme emerging is that big internal realisation that lending was not prepared as it could’ve been on digitisation. A lot of work is happening across the industry, there’s a representation to the regulator to allow digital, presence-less e-KYC and e-agreement. In the very short term, lenders are protecting their portfolio by focusing a lot more on collection. A large NBFC has put its entire salesforce into collections. Internally, we were over prepared and we’ve large customer support centre helping customers to select right product with 2000 people in the call centre. We seamlessly moved everyone WFH and efficiency has gone up, while systems and processes are intact. We had a small vertical on collections where banks had written off their loans, we were speaking to those customers and asking them on paying back their due and have scaled up on that front. Leveraging call centres for collections as traditional collection agencies couldn’t help much here. Collection is short-term to medium term area where we are partnering with banks. Collections were always a part of the strategy and it got accelerated during the current time. The bigger opportunity for entire industry here is digitisation. We’ve helped with lenders to fast track digitisation processes could be video KYC which was cleared by RBI but was not put in practice till now. Also built capabilities for Aadhar validation & have built the entire e-mandate, e-signature, e-income validation which we are calling as PB Digital Stack for customer onboarding for lending as per regulatory requirement. We’ve 4 active conversations with lenders to use these services in a better secure environment accepting customers digitally and issuing credit or loans digitally. Collection is short-term to medium term area where we are partnering with banks. Collections were always a part of the strategy and it got accelerated during the current time. Another conversation is about identifying lower risk segment and at least start opening up and lend to them to which them I call as salaried super prime segment. And by end of May at different level we would’ve 5 partners live.

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  • What are your thoughts on the lending industry amidst lockdown?

    Lending, especially unsecured lending as an industry while it’s not been used to credit turns has started happening now. Between every 6 and 8 years a credit turn happens where the delinquencies rise and recession comes in and then the lenders course correct. Most strong lenders are able to draw from the learning’s they had from last crisis and apply that and prepare themselves. Lending in India for most of the part has been fairly unprepared for what’s happening right now; essentially meaning nobody can meet each other physically. Lending in India was always set-up in a manner that parties in transaction had to meet it could be for signature, income validation, KYC, etc. Till 5-6 years ago, the infrastructure wasn’t there in place and then the lenders started using Aadhar. The not so good part about lending is that the industry didn’t use the infrastructure that got created. I think it was more of regulatory hassle (including SC verdict) where digital, presence less KYC was not allowed for lending for last few years. So when lockdown happened on 23rd March, the industry was fairly unprepared to accept consumers and give them a credit product even if they wanted to. On the other hand, the EMI moratorium for customers increases difficulties for lenders to ascertain how many customers will be at risk from a default perspective. They will get some sense from June onwards to understand what kind of delinquencies are coming in. Crisis is not going away as there is uncertainty over how long it will last, how long will it be difficult for businesses to open up, impact on salaried people & added complexity of how many businesses will survive.

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  • How do you think startups should go about raising funds?

    That’s a dilemma that a lot of startup owners would face, especially in the early stages. There’s no fixed answer to be honest. It really depends on the founder. There are some people who can bootstrap and run on their own funds, if you’re in that category as a founder then it’s not a bad way to keep progressing until you reach the stage where you need money. But when it’s clear that you need money to grow, you needn’t worry much about the investor’s control etc. because the investors are mostly rational. If they like your idea, if they like you as a person , if they like the way you are executing, they are betting at the idea and more so on the person, so they would not like to get the person in a difficult situation. Even if they take a reasonably large stake , they will want the person to have a reasonably large stake himself or herself, which would kind of motivate them. Of course investors and VC’s are sensible and would like to maximize their profits but they are also sensible in realizing that we are investing because of the person and if the person is not motivated the whole idea and the business goes for a toss . So they are mostly sensible and my advice to the founders would be that when you’re going out: Be Flexible. When you interact with the VC’s and the investors you get sense if you’re comfortable and would be comfortable interacting with them for the years to come and if you get the right signals then that is the right investor for you .

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  • What are your thoughts on 'sometimes the ideas are really good but they still don’t work out' ?

    Yes, the ideas are sometimes really good and yet they fail. I think something that really impacts the success or failure of an idea, is execution, and rigorous execution at that, no matter how many times you hit rock bottom, there will be disappointments. Not giving up is key. The third is the capital -Your idea is good. You are executing well, but you need to have the capital. If you don’t have the capital to survive , you won’t make it. And I think luck also plays its part here, if you’re lucky. You go out and raise capital at the right time, you get the point. So I think these three ingredients make or break a startup.

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  • According to you what differentiates a successful startup from a non successful one?

    I think the first and the foremost thing which differentiates a successful startup from a non successful one, is the need you are trying to address , it has to be real , it has to be a consumer need or a gap in the current services that are being offered. The offering you are giving the consumers should be real, differentiated and unique. Even if it is already present, offering it in a unique fashion will get you a lot of attraction from investors as well as the consumers.

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  • What would be your advice to our young entrepreneurs who want to start their own businesses right out of college?

    I graduated in the mid 90s, so the good things to do back then were engineering or medicine, especially if you were from a middle class family. I went for engineering and then did my MBA. Out of college I really wanted to get exposed to the real world, but not through a startup, the late 90s were not exactly the age of startups. So the best thing was to join a large corporate which I did, learnt the basics of my trade, got exposure and by the time I had enough confidence and experience the startup boom really starting coming around, so that’s when I thought about joining a startup. And yes I think it’s always better to have some experience working before you decide to go for your own business. So that would be my suggestion to them.

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  • When do you ever discard customer data?

    The only customer data that we discard is the very sensitive customer data. Now that we have a payment gateway, we don’t retain any payment details or credit card details and discard it immediately after that transaction. We are careful where the data is sensitive and could be potentially risky and we don’t need it so we discard it. Besides sensitive data we do not discard any data – we try to use that not only to see how we can improve the offering for that particular customer but also for that kind of segment of consumers for the future

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  • How do you listen and manage customer feedback on social channels?

    In our business customer feedback is extremely important and so there are a couple of things we do. Each and every consumer complaint is sent to us on an email and all in the top management are marked on it. So we are constantly seeing all the consumer complaints that are received. On social listening we use tools like Hootsuite to aggregate the data and that is shared with top management and the customer service unit and we try and see what the trend of queries and complaints is. This information is taken back to our product development and we try to address those at the root cause besides solving the specific consumer problems

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  • How do you listen and manage customer feedback on social channels?

    In our business customer feedback is extremely important and so there are a couple of things we do. Each and every consumer complaint is sent to us on an email and all in the top management are marked on it. So we are constantly seeing all the consumer complaints that are received. On social listening we use tools like Hootsuite to aggregate the data and that is shared with top management and the customer service unit and we try and see what the trend of queries and complaints is. This information is taken back to our product development and we try to address those at the root cause besides solving the specific consumer problems

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  • What is the biggest challenge with respect to Marketing Data and Analytics?

    We are facing three challenges and we try to overcome all of them as we go along. The first one is the increase in the availability of data through multiple media. Trying to capture data through multiple channels, put it all together and then to make sense of it, thats challenge number one. Challenge number two is the unstructured data – this could be from our call centre or our social media network and its usually verbal feedback from consumers. The challenge lies in how to make sense of the data and try to convert it into actionable insights. Then once you do arrive at an insight the third challenge is how do take that back to the execution level. Here it is important to ensure a seamless integration of the information into what is being said by our customer service associates or implementing it on the website to make sure what the customer sees the impact of it. Also, as a business the data insights that have been generated should be incorporated into our strategy. We are trying to overcome these challenges by first trying to get clarity and alignment between business and marketing and data analytics on what is the objective we want to drive – thats the most important thing. Once everybody is aligned it helps in execution. Secondly, we try not to look at every piece of data that we are getting or can get, but instead we try and look at what pieces of data would help us achieve the objective that we have set for ourselves. Here the learning is that we are better off using limited data to get into a better position than we are at today rather than trying to use all the data at the same time to get nowhere!

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  • How to incorporate the voice of customer into a real-time response?

    It is becoming more and more possible with increased use of data and technology and consumers would like it to be incorporated all the time. However, ours is a financial products category and this is not a very simple category, its a complicated product. We are attempting to do this and have achieved it to a degree via our our interactive website. On the site, based on the information the consumer is entering for each field or question, at the backend, our model is trying to make the product more relevant and customized for the consumer’s need. This information is also getting passed to our customer services associates in real time and if the customer chooses to speak with us, the associate has the same amount of information on whats the right product or offering for the consumer based the data or feedback the consumer is sharing while filling up the form. What we don’t do very well and are trying to do is integrating the online and offline medium. So even if the consumer is writing to us through an offline medium i.e. sharing feedback on a call or writing an email or even sending Whatsapp messages to us – we still need to incorporate that information and customize a service or address the issue or suggest the right offering and make it available online in realtime.

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  • How do you use customer analytics to drive better marketing decision?

    What’s happening for us and across the industry, is that there are three trends that are emerging – First is that there is more and more data available. The second trend is that consumers are spending time on multiple mediums. Our customers are also on television, on the website, they are on their mobiles watching videos and they are speaking to our call centre executives as well as writing emails to us. The third thing that has happened to us is that technology has helped us, and helped everybody, to track the consumer behavior across these multiple mediums and then start to use this data to drive insights and actions. We are also trying to use technology to capture data from multiple mediums. Take for example our television advertising, analysis of which, in earlier days was dependent only on the ratings we would get from the agencies. Today, we are able to measure the exact impact of our advertising on television by using an internally developed model called ‘8-minute-impact’. Here we find that every time consumers are watching television about 86% of them are also using their mobile phones at the same time and we see a sudden lift in mobile traffic when our ad plays on TV. What we do is, we map the increase in visitors to the mobile in the next 8 minutes after an ad is aired on television and then map it back to drive the efficacy of the advertisement. So that’s one way we are using data analytics. Another way is when a customer is entering various input on the website to look for the right insurance or finance product, we are simultaneously taking that input and at the back end using a propensity model, which we have developed internally, to try and identify which is the best product for the consumer and what are the chances of buying that kind of a product. This helps us to assign a kind of value to the consumer and their propensity to buy. These are some examples of how we are starting to use data in a very actionable manner to drive ROI and the top line. Furthermore, we use data for three actions in marketing – one is what I talked about – which is improving or customizing a product. Second is customizing the communication so every time we hear or see a customer action either on our website or customer call centre our next communication attempt is more personalized – an example would be if a customer has gone to the health insurance page, seen some specific plan, shown some interest by clicking on more details the next communication will be more specific about that product, it’s benefits and costs and while we may talk about other products it will be more focussed on the the product the consumer showed an interest in. Similarly, if the customer has done some action on the website that information is passed on to the customer service associate at the call centre who can then customize the communication basis the action customer has taken. We also, use data for segmentation and targeting better – whether it is in digital or television – and I spoke about the 8 minute impact model – we use that over time to optimise our TV strategy in terms of which programs are working well – which channels are working and on what days of the week etc.

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  • What are your marketing plans going forward?

    We will focus on enhancing brand awareness and quantify it by increasing our website traffic. As we are an e-commerce company, we will continue using digital media, especially for ROI driven campaigns.

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  • Is it true that the emergence of the digital medium has put enormous pressure on CMOs to realign their strategy?

    As an e-commerce firm, we are a ‘digital first’ company and hence, our marketing strategies have always been aligned with new media, but yes it is extremely important for us to keep pace with fastest growing medium in this country. If customers are on social, we have to be there. You cannot achieve sustainable results if the management is not aligned on the objectives and the course of action you are approaching.

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  • Has big data completely altered the landscape for marketers?

    The relevance of big data for marketers cannot be stressed enough. Before it came into existence, we primarily relied on our gut feeling in terms of identifying what customers really wanted. Decision making, to a large extent was based on instincts, with little or no data to support marketing spends. Needless to say, this exposed us to greater risk and subsequent financial loss. Big data has put the focus back on customer centricity. Today, businesses acknowledge the true potential of big data in terms of understanding customer behavior and create effective marketing campaign accordingly. It enables marketers to have a clearer perspective about what customers really want based on data-driven forecasts w.r.t their website preferences, time spent on each site, purchasing pattern and personal preferences (social media feed) etc. Meaning, they can now target the right people and connect them to the right product or resources, based on individual requirement.

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  • Most marketers believe that harnessing data analytics is one of the most important challenges they face. Are you also one of them and if yes, how are you dealing with the problem?

    Certainly! As mentioned above, using data analytics effectively is a big challenge for today’s marketers. As marketers, we tend to spend a lot of time focusing on the overall packaging of our product and this leaves us with very little time to conduct deeper research and analysis. As a result, we outsource this task to a third-party data provider. This exposes us to risk of losing relevant information in process. It is equally challenging for companies to take necessary action based on key findings. More often than not, we don’t take time to study the findings that are readily available and end up following our instincts instead. It is imperative for marketers to follow middle-path. I.e. derive marketing strategy based on key findings, as well as their past experiences and instincts. In our case, we are quite clear on what problems needs to be solved through data analytics. We have developed in-house big data capability by building a robust team of experts, having strong analytical skillsets. • In the digital, we are using data to predict customer probability of buying when they visit our website. Also, we are using data analytics to continuously improve on our purchase journey for customers. • We are also using data analytics to assess marketing effectiveness of our media planning. We have developed an 8-minute impact rule that measures the impact of TV ad on website traffic within 8 minutes of its airing. The analytics not only helps us to measure marketing effectiveness but also inputs in our future media plans. Overall, the approach has been to concentrate on long-term marketing effectiveness through consumer-focused innovation.

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  • What according to you are the key challenges for any CMO, especially for digital marketing?

    1) Understanding the digital savvy audience: which is continuing to evolve and adapt to new technologies at a ferocious rate. Expectations are changing, and people are interacting with organisations in new ways and on new platforms using new devices 2) Developing a coherent marketing strategy: The current pace of change often forces organisations into a tactical mindset. Successful digital engagement will be reliant on developing a coherent strategy that focuses effort on tangible outcomes 3) Figuring out how to get and act on the right data in today’s data-heavy age: The greatest challenge that marketers face while harnessing data is in terms of extracting relevant information/ full value from mountains of data, especially if you have limited manpower. This process is quite similar to finding needle in a haystack. 4) Giving your content a life of its own: Content is widely understood to be of pivotal importance on digital channels and it’s important to exploit content’s full potential and focusing unduly on owned platforms.

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  • What are your views on Social Media marketing and how do you gauge the ROI?

    The fact that you can have a two-way dialogue with your audience is what makes social media different from other marketing mediums. We try to leverage this unique advantage of social media by building a community of active followers who will not only engage with our brand online, but will also help the brand through WOM and advocacy. Primarily, we focus on reach within our target group, engagement rate and cost per visit to gauge the ROI of any social content.

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  • How are you leveraging the digital medium to acquire customers or create an amazing customer experiences?

    On the digital space we interact with the consumer across various buying stages broadly divided into – Awareness, Consideration and improved customer experience. We actively leverage the power of Search, Display, Mobile, Social and content across the buying stages: • Awareness: Display ads, online PR, Mobile app and active presence on social media help increasing our brand awareness on the digital space • Consideration: The next step is to convert awareness into lead generation which largely depends on consumer perception about our brand. This is where SEM where we focus on brand core keywords, SEO, website reviews and blogs and strong content takes center stage • Customer experience: The rapid pace in which digital and social media is growing it is imperative to have a strong ORM strategy, we reach out to our customers across social assets to help solve their queries to ensure seamless customer experience. A lot of our efforts and resources are directed towards establishing and maintaining positive customer sentiment.

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  • How are you ensuring that you have an integrated marketing effort?

    One of our biggest challenge as a brand is to make people aware that a platform like policybazaar.com for comparison of insurance exists. We have been attacking this problem through our three-pillar strategy in order to reach out to our core target audience: • Growing Brand: Large scale awareness through TV, the single largest reach medium in our country, for brand building through round the year media campaign. This is supported by other mediums such as radio and outdoor advertising. While former help expand our reach, we use the latter to increase frequency overall impact of our campaign. • Thinking digital: Interacting with the consumer across various buying stages through targeted digital marketing efforts via pay per click, display and social media campaigns and SEO. • Leveraging CRM: We are using CRM as an effective low-cost channel for business generation

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