2014 will be the year of giving efficiency in experiences by brands to consumers
Says N Chandramouli – CEO, Trust Research Advisory. An eminent personality in the field of branding and communication, he has also authored The Brand Trust Report, India Study (2011 and 2012), and Decoding Communication. He is of the opinion that on today's environment of information overload, it is imperative that anyone interested in understanding, influencing and managing communication, has full knowledge of the subject.
Brand trust will lead to its subsequent loyalty, something which is ardently desired by every brand manager in this competitive market place of today. Brands are thus going all lengths to strike a chord with consumers in all possible ways – the most effective one is cited to be experiential marketing. In this interview with EE, Chandramouli elaborates how brand trust can be increased exponentially using experiential initiatives by brands.
EE: If you summarise the last two years of branding and communication by brands in India, what would you say are your top findings? What line of communication are brands mostly following to establish loyalty?
The brands which have a long term vision are the ones that are making an impact in the minds of the stakeholders and audiences now. No longer is the engagement level of a brand simply restricted to making a sale. It is about focusing on long-term relationships, whereas the sale is just a by-product.
Just as one can sit in a coffee shop without ordering anything for hours, so must a brand continue to engage with its customers without even desiring to make a sale. You build a relationship, the sale will happen eventually.
EE: Would you say that brands are investing more on experiential and BTL initiatives in the past 2-3 years, even though they are costlier than mainstream media? What would you cite as top reasons behind this?
In my opinion, in this competitive marketplace, experience is everything. It builds the tactile experience of the brand and its intangibles. Brands are finding that whether it is online or otherwise, they are engaging with their stakeholders more deeply than ever before. The traditional BTL activation is now taking a new shape with online media become so prolific. Now, every brand wants to capitalise on time and mindshare that the customer is willing to spare and therefore makes sure that they give the customer a direct, tangible interface at every opportunity.
EE: Which sector is investing more on experiential activities? Do you see any noticeable trend?
We have seen all brands go in for more and more engagement. Be it a tractor or truck brand, or whether it is a ready-to-cook food brand, or even a car or a cosmetic, everyone is investing more in giving the customers and their influencers the experience.
EE: Would you say that investing in experiential activities leads to brand trust? Why?
Experience is the first tenet of trust. You begin to believe as you absorb the experiences. This is the way humans and other living beings have been for ages. The rest may have some part of make-believe in it (be it vicarious or imagined trust), but experiences are the most real thing for a consumer. A brand cannot do without giving real and believable experiences to the audiences.
EE: What would you predict as trends for experiential marketing in 2014?
The biggest thing in 2014 will be efficiency in experiences beginning to play a major role in decisions of what experience to give to the consumer. Brands know they must give experiences to audiences, but what if the ‘tasting’ session goes bad. Do you not kill that opportunity and all future opportunities? Also, consumers come with a lot more information about the brand and product before the experience. They know more and ask more. Experiential acts for brands in 2014 are going to become like an online social media platform, where brands will have to expect the unexpected and give the consumers satisfactory answers and experiences on the fly.
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