Marketing Experience (MX)- The next competitive battleground for brands
Hansa Cequity, a leading Indian Customer Data Analytics and MarTech firm, part of the R K SWAMY HANSA Group, has released The India MX Report 2020 – The State of Marketing experience in Indian companies.
Today, all products are conversations. Be it product-driven brands or service-driven brands, they are more and more differentiated by their experiences. Companies or brands that deliver memorable experiences to customers keep gaining market share and improve stickiness with their customers. When companies want to improve their CX scores, marketing experience scores play a pivotal role in making better CX happen.
Marketing, therefore, is no more about communication alone or about that one big idea, that one television commercial, that one viral video, that one e-mailer or chatbot; it is increasingly about orchestrating an exemplary marketing experience across touchpoints. It is also not about narrowly deploying MarTech, as tools or platforms just don’t deliver experiences by themselves. It is also not enough to just buy and implement a stack or technology platform once, as a customer’s relationship with a firm change over time. Marketing requires a fusion of imagination, technology, and process orientation.
This study, one-of-its-kind in India, attempts to benchmark Marketing Experience (MX) in over 100 companies across different industries that Hansa Cequity has researched and studied in detail, using data available in the public domain and our proprietary research & analysis. Hansa Cequity has tried to provide a blueprint and a benchmark index of different areas of MX that industries are leading or lagging in, which can further be used to enhance Marketing Experience (MX) thereby improving customer experience. In addition, Hansa Cequity sees a positive impact on EBITDA, when MX is implemented and orchestrated well by firms.
Top five key findings of the report
- Investing in a wide variety of marketing experience-oriented stacks/technology can impact customer experience positively.
- Only 30% of the marketing stacks/technology are being leveraged for enhanced MX representing a huge opportunity for differentiating marketing experience
- Data & Analytics MX is not effectively leveraged beyond tracking media investments and insights.
- Customer Data Platforms (CDPs) which is the data component of the MX stack is least invested by many firms.
- Connected Marketing Experiences can have an impact on EBITA growth of over 25% for companies.
Says Neeraj Pratap, COO, Hansa Cequity, “This report attempts to provide an answer to some key questions that marketers are looking for like what are the most popular marketing experience-oriented tech stack categories across industries, which industries are leaders and which one are laggards in adopting MX technologies and how efficiently are industry leaders using their MX-oriented technology investments.”
The world of marketing is changing with millions of dollars being now spent on marketing and advertising technologies. Globally, this is estimated to be a US $ 45-55 billion-dollar market opportunity. In India, over US $ 100-150 million dollars is spent every year on many marketing & advertising technologies, and this is only expected increase over the coming decade.
About Hansa Cequity
Hansa Cequity is India’s first data-driven marketing consulting & services company which was started in 2007 with a focus on Consulting, Data management, Analytics, Martech, Data-driven digital solutions and customer relationship centres for different clients across key verticals like BFSI, Automotive, Media & Entertainment, Retail, Travel & Hospitality and E-Commerce. Today, Hansa Cequity is a leader in India providing data-driven marketing solutions & services for blue-chip companies across India. Hansa Cequity holds and analyses over 100 million unique customer profiles in private & public cloud infrastructure with more 100 terabytes of data & manage over 750 million one-to-one customer-intelligence campaigns in a year. Hansa Cequity today has a team of about 1000 consultants and associates in their key client engagements & programs.
Hansa Cequity is a part of the R K SWAMY HANSA Group which is the largest Indian-owned Marketing Services Group offering multi-discipline services through R K SWAMY BBDO Advertising/Creative, R K SWAMY Media, R K SWAMY Integrated Digital, Hansa Research, Hansa Med cell Continuing Medical Education and Hansa Events/Activation.