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There is a rising sentiment among Indian marketers towards impalpable results around the upcoming festive period, beginning next month. While monetary implications are, of course, every brand’s raison d'être, the majority of marketers are indicating an increased proclivity towards cementing lasting relationships with their consumer base, keeping meaningful conversations and connections at the core.
While the last year savoured an increase of up to 45 per cent ad spends during the festive time, also buoying the economy, 2024, in comparison, is expected to remain paltry. Industry reports suggest marketers trimming budgets and re-evaluating their strategies ahead of the festive period.
Embracing And Encouraging Meaningful Connections
Today, it is not enough to capture fleeting attention. As Bob Burg says, all things being equal, people do business with and refer business to people they know, like and trust.
We have evidently moved beyond transactional and direct relationships between consumers and brands to forging a deep, lasting connection that further becomes the bedrock of brand loyalty.
When a brand establishes an emotional connection and understands its customers' needs, it delivers remarkable experiences. This forms a bond that transcends price and convenience. It is this bond that creates long-term brand loyalty. It fosters a sense of trust, belonging, and advocacy among customers.
Plenty of market reports also stamp how consumers are increasingly inclined towards the brands they connect with. According to Sprout Social, 84 per cent of consumers say they buy from brands they feel an emotional connection to. Parallely, companies with a strong brand story outperform their competitors by 20 per cent, finds Forbes.
By nurturing these connections, brands cultivate a devoted community. That community becomes their greatest asset – driving repeat purchases, positive word-of-mouth, and long-term success.
Playing around the same lines, Puravansh Maitreya, Marketing – Head, Lava International, explains that their plans for the upcoming festive season are comprehensive, with a special focus on the upcoming India-Sri Lanka cricket series, Independence Day celebrations and upcoming flagship launches during the festive season. “These initiatives underscore our commitment to delivering excellence and fostering deeper connections with our consumers,” he stresses.
The smartphone industry is on a growth trajectory, marking a positive outlook for marketers. Lava has strategically positioned to capitalise on this momentum, with flagship launches scheduled for the second half of the year. From a brand strategy perspective, they are enhancing their engagement by collaborating with prominent social media personalities and forming key partnerships to strengthen the Lava brand connection with their audience base.
Dell, on the other hand, is prioritising the vast consumer requirements through a curated marketing strategy, aided by a robust omnichannel experience. During this period, the brand will focus on analysing its audience to craft targeted marketing campaigns.
Guiding this approach is Dell’s perception of marketing as a larger function, wherein it is not viewed as a mere push for the brand but a significant period to assist customer decision-making by educating them with the right information as well as Dell’s initiatives to drive human progress through its technology. “Thus, through a holistic combination of well-thought-out marketing strategies, an objective to foster lasting relationships, and themes that align with the festive spirit, we offer the best customer experiences,” adds Mayuri Saikia, Director of Marketing, Consumer and Small Business, Dell Technologies India.
In life insurance marketing, however, the approach to festive seasons diverges from that in other retail sectors like consumer durables, FMCG, ecommerce, etc. “While festivities like Diwali or Eid may not directly spike insurance sales, they present an opportunity to forge meaningful connections with customers. These cultural celebrations resonate deeply with Indian values of family and togetherness, making them ideal moments for insurance brands to align with themes of protection and continuity,” comments Abhishek Gupta, Chief Marketing Officer, Edelweiss Life Insurance.
“Rather than simply boosting budgets for festive periods, our strategic focus is on crafting compelling narratives through long-format storytelling. These intricately woven cultural nuances and diverse festival narratives have shown promising results in captivating the audience and boosting our brand recall in the past,” furthers Gupta.
Unlike other retail sectors, the insurance sector can’t dabble in promotional offers. But that only provides them a canvas to tell more impactful stories by highlighting the role of insurance in safeguarding family dreams and aspirations. By anchoring campaigns in these emotional dimensions, insurers can build enduring connections with customers, promoting loyalty and trust. It is also an opportunity to deepen partner relations, thereby enhancing distribution effectiveness and market presence.
For Mayank Shah, VP, Parle Products, on the other hand, an increase of 8-10 per cent in its festive budget is in the pipeline, owing to above-normal monsoons. Strong demand is also expected from both urban and rural markets in the next two quarters.
In terms of its campaigns, Parle will remain regular with some of its brands like Parle G, Hide & Seek, etc., as they are a big part of their consumers’ lives. Shah believes it makes complete sense for these campaigns to be out there during this time, as they provide a great opportunity to reinforce the brand’s message and fortify consumer relations.
With all marketers unanimous on this idea, it is well established that festivals drive immediate sales spikes and also serve as crucial platforms for brands to deepen emotional resonance, leverage digital storytelling mediums effectively, and strengthen partnerships. This strategic approach not only enhances brand affinity but also reinforces market influence in a meaningful and lasting manner.
