Future of Marketing will only be on the Data driven and Analytics :Urmesh Chandra, Marketing Head at Policybazaar #MartechMonday

Q) What Impact do you think will AI & Machine learning will bring to the Marketing Industry?

AI/ML will change the entire functioning of the industry, unlike the way we see it right now. It will be a boon for both advertisers and consumers. The customers will have better experiences and advertisers will have much more targeted approach maximizing the return of every dollar spent. Imagine a day when we will be able to make personalized marketing efforts for each channel of marketing. Big data will make it very much possible

Q) How important do you think personalization is in the present marketing scenarios?

Personalization increases the trust as well as enriches the customer experience, which is very important in today’s cluttered scenario, where everyone is just shouting about their benefits and blah blah blah. With personalization, it helps to hold the eye of the consumer little more than a flash, and that’s the breaking point. However, I feel more we are personalizing in the environment, more we are breaching the privacy of the consumer. As a marketer, we need to be more conscious and have to read carefully between the differences of personalization vs privacy.

Q) What do you think, would be the future of marketing?

I think future of marketing will only be on the data driven and analytical side & marketers will be more dependent on tools that will empower the decision making of prudently choosing the right channels of marketing. People are developing those tools, and companies are earning big monies by offering data intelligence. I am certain that in Future, we will be equipped with more accurate and effective ways of advertising, raising the bar every time for ourselves to target correct audience, bringing efficiencies and better ROIs

Q) How do you thinking automation can help the marketing strategy?

Automation will give us more control over the various marketing channels along with providing right signals related to customer funnel, which we are using to target the relevant audience. It will help in reducing the ineffective marketing methods, channelizing the marketing efforts at right places at the right time which again boils down to the fact that it will further increase the reach of the advertiser for every dollar spent

Q) What are the important metrics/KPIs for your business in Marketing?

For Us, Most important KPIs are:

– Cost per acquisition

– Cost per sale

– Sale conversion rates

Q) How do you measure your success? Metrics you track and Goals you set up

Positive EBITDA, Positive customer feedback, repeat purchases and incremental growth over last year MOM

Q) What Martech tools do you use in your Marketing Strategy?

We use a lot of tools focusing on competition and Industry Analysis, consumer behavior, Paid marketing, Social media monitoring, Mobile app intelligence etc.

Q) What marketing channels are must in your marketing strategy

To promote the brand we still want to use the traditional medium of TV, which helps us spread the awareness and we reap that fruit on digital using all possible performance oriented digital channels. We also realize that the audience is shifting from linear TV to the OTTs and we will incorporate those changes in the coming future as well

Q) Marketing Channel vs Marketing content which do you focus more and why?

Both are important and should go hand in hand, without the good content it is impossible to be in the game, however not present in the right channel also restrict to spread that content amongst right audience. Content is the key but Channel becomes the carrier of that content. Its like you have travelled & clicked a lot of good pictures but you have shared it with your friends through emails only and not posted on Insta and Facebook

Q) How do you keep yourself ahead of the competition?

I am a firm believer of Be in the driver’s seat to be an innovator and not the follower, Rest of the thing will follow by itself. We should not hesitate experimenting new thing which can give flight to your effort and in today’s rapid changing times we have seen new generation taking up new enticing things hand in hand

About Urmesh Chandra :

I Have a total work experience of 14 years, working in several industries like Gaming, Telecom, Ecommerce, Real Estate, Healthcare and now Insurance. I have been on the digital side of the business since 2010. Currently, I head the marketing at policybazaar for Life Insurance Business. Prior to this, I was heading business for India and South East Asia at Angry Birds (Rovio Entertainment). I love Outdoors and trekking and have recently done Everest Base camp trek.

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