The echo verse in marketing is a complex network of feedback loops involving a wide range of human and nonhuman participants. Consumers, brands, AI agents, news media, investors, communities and society as a whole continuously interact and influence each other, reshaping messages across digital platforms and forming an ever-changing ecosystem.
Agreeing that marketing has undergone significant transformation since the rise of the Internet, leading brand builders deliberated at the BW Festival of Marketing 2024 around devising strategies that align with the ever-evolving nature of the industry.
Arnav Sharma, Head of Global Strategic Marketing Programs and CEO of Communication, Tech Mahindra said that the complexity of modern communication environments requires multiple stakeholders to interact and influence each other. He noted that, unlike in the past, where messages were delivered and considered final, today's communication channels allow for ongoing engagement.
Sharma suggested maintaining a consistent brand narrative while ensuring flexibility to adapt to different stakeholder perspectives.
Shilesh Mishra, Vice President of Marketing & Brand Management, RED.Health, stated that the direct-to-consumer (D2C) model has transformed how brands are built, with consumers playing a central role in shaping brand values. Mishra discussed how RED.Health has adapted its core values based on consumer feedback, shifting from a focus on speed to prioritising reliability and empathy.
On the other hand, Madhur Acharya CBO Aqualens & Vice President Ecommerce, Lenskart, stressed the importance of agility and constant feedback in the omnichannel retail space. He took the example of Lenskart, which proactively seeks feedback and uses it to drive rapid innovation, such as moving from three-day to one-day delivery services in response to consumer expectations.
Acharya asserted that technology plays a crucial role in facilitating fast execution and enhancing the overall customer experience. He warned that businesses must stay vigilant and responsive to consumer demands, as customers today expect continuous improvement and innovation.
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