Marketing Is Not A Cost But The Lifeblood Of Business Growth: Hardeep Brar
In a time of increasing scrutiny on marketing’s relevance within organisations, Hardeep Brar holds a firm belief that marketing is a powerful growth generator for any company. A veteran in the automotive sector, Brar understands the pivotal role marketing plays in attracting and converting consumers into loyal customers.
The Growing Catalyst
Brar unequivocally supports the notion that marketing is a source of growth and a catalyst for business expansion, serving as the point of origin for consumer engagement. In his view, marketing is where consumers discover a brand, and it's the foundation upon which prospects are transformed into brand loyalists. He avers, “Marketing is not a cost but the lifeblood of business growth.”
Newer media has revolutionised advertising but Brar sees traditional media continuing to play a significant role in attracting and retaining consumers while creating brand differentiation. In the face of the exponential expansion of digital, he predicts a stagnating effect in the upcoming fiscal year, reiterating the importance of a balanced approach.
“Print and TV are still very important. Digital has already increased in the last couple of years and if we still push it further, it will compromise the stickiness of the medium,” Brar reflects. He highlights that digital, TV and print complement each other, each offering unique advantages. The synergy between different media is key to achieving optimal marketing effectiveness.
The Power of Data
Data is the core of modern marketing strategies for marketing leaders such as Brar. He quotes the example of precision marketing, where data-driven decision-making is paramount. In the automotive sector, Kia India leverages data to gauge the impact of marketing spend on lead generation. “There is a direct correlation between the use of data and achieving an outcome. We look at what is the cost per lead (CPL) and that tells us where to really spend money within digital and which channels are giving the best bang for the buck within TV or print,” he explains.
Metrics such as CPL and conversion rates guide their allocation of resources across digital, TV and print channels. Brar’s data-centric approach ensures that every marketing rupee is invested strategically, maximising the brand’s return on investment.
Data however comes with its challenges including whether the base itself is reliable or whether it compromises on a marketer’s gut feel. In context to data reliability, Brar asserts that it is a trustworthy compass in marketing. The precision and accountability that it brings to marketing decisions have strengthened his faith in its credibility as well.
