Someshwar Mehra

  • Millennials and the stock market – a lockdown affair or evolutionary leap?

    Millennials and the stock market – a lockdown affair or evolutionary leap?

    Image source: Jayachandran/Mint

    Hello dear reader. I am back after a project that opened up the world of stock investment and consumer behaviour. I come bearing new insights gleaned from helping a stock market guru launch his own investment subscription app.

    While the world of Dalal and Wall Street makes for great cinema and TV, the project itself wasn’t instinctively exciting to a financial novice like me. Like most Indians, I was brought up to not discuss money. I didn’t learn or know how money, investment and credit cycles really work – and how it needs to be managed beyond small fixed deposits.

    However, on this project the more I researched, met investors and spoke to experts, the more I understood the seductive lure of the stock exchange. So let’s get learning some interesting nuggets on millennial investor habits.

    What drives Millennial Investor Behaviour?

    The financial inheritance

    Having worked on financial products in the past, I already knew Millennials inherited their financial behaviour from their parents. This would explain the continuing popularity of traditional savings methods that are considered most conservative, like fixed deposits, Provident Fund schemes and Life Insurance. 

    Source: YouGov-Mint Millennial Survey

    Source: YouGov-Mint Millennial Survey

    Some other investment factors

    One of the other influences that play on millennials’ minds when investing could be the state of the financial markets during one’s adolescent years. Most early millenials like me would vaguely remember living through the biggest stock exchange scam of our time. This would have possibly painted the stock market like a gambling den or a casino – a risky, lottery-like way to put away money. It’s possibly why millennials until now have largely shied away from Dalal Street (the name of which, only made it worse). 

    Then, one’s level of income is a factor. Naturally the more you earn, the more you can save. The more you can save, the more you will try to diversify your risk. This is when one’s financial horizons broaden beyond just the inherited world of fixed deposits and life insurance.

    Souce: YouGov-Mint Millennial Survey

    Souce: YouGov-Mint Millennial Survey

    However, there is a larger, possibly hidden problem – the identification of which made me sit up in my chair, leave my current research – to double down and calculate my rate of savings.

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    The problem is: Millennials only save about 11% of their income, versus an advised or ideal 30%. Why do we fall so short?

    Why Millennials are bad at saving 

    So I dug into research, and spoke to millennials on both sides of the savings spectrum. Both groups actively invest in equities, insurance, bank deposits and mutual funds. Below are three major conscious and subconscious factors that affect investor behaviour –

    1. Children of ‘relative’ affluence – millennials finished high school around the liberalisation of the Indian economy. They saw household incomes rise exponentially along with the avenues to spend the money. What worked in their favour was parents who had grown up hearing the war-cry of ‘roti-kapra-makan’ and had dedicated their lives to building a solid asset base. With a basic asset base in place, this generation at least has a foundation to build on.

    2. Early earners – Millennials entered the job market better qualified and earlier compared to traditional professions. There were also more jobs with fat salaries with the entry of multinationals. Theirs was possibly the first generation of ‘young managers’ under 30 years old, who earned big salaries and switched jobs more than once in their careers. This turned out to be a heady cocktail of early money, no dependents and liabilities, parental support, and therefore lots of ways of spending the money they made.

    3. Millennial lifestyle – earlier earnings, parental support, and the internet – all came together to shape the ‘Millennial lifestyle’. Work hard, party harder, marry late, one child, live life. YOLO! Most people will be able to identify with these basic trends. The larger financial implication is that millennials start saving later, and end up saving less. As per financial calculators, life is one big party that will not last till retirement – if they can afford to retire that is.

    Saving like parents but for different things 

    While we know Millennials have learnt to save from their parents but there are some basic deviations in what they save for. Millennials save for today, while their parents saved for tomorrow. Millennials are looking to save for cars, while their parents saved for retirement. While parents saved for home renovation, Millennials want to buy new apartments (possibly because more of them live away, or are increasingly opting for a nuclear set-up, or simply because they grew up with the idea of owning a home). While parents saved up for children’s education, Millennials are saving up for their own education – possibly catalysed with shorter employment tenures, and career obsolescence becoming a real concern.

    YouGov-Mint Millennial Survey

    YouGov-Mint Millennial Survey

    Covid19 effect on saving and investment behaviour

    Millennials were comfortably living their best lives until the pandemic hit. Unfortunately this piece too mentions what would possibly be the most talked about event in human history.

    As with most historical events that cause chaos, there emerges a new order. This is exactly what happened with millennials locked up at home to mull over impending career and financial uncertainty. This was a much bigger catalyst than the previous recessions and economic downturns witnessed by them. To begin with, they learnt to save! There was a 50% increase in Google search for ‘how to invest’ during the lockdown.

    The Covid-19 call of the stock market

    Until now Millennials had tentatively dipped their toes into mutual fund investing with some setting up systematic investment plans (SIPs). However, faced with an uncertain future, Millennials turned where they had so far feared to tread.

    Equity players like Zerodha saw 300% rise in new account openings compared to pre-Covid. 50% of these were opened by professionals or people in private jobs. Motilal Oswal’s app downloads doubled with 50% increase in trades. Discount brokers saw a 70% increase in new DEMAT account openings with millennials leading the charge with 80% of those accounts.

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    More and more millennilas tuned into the business channels to hear established investing gurus, new trading mavericks who had ‘hot tips’ – all increasingly visible and vocal on TV channels and their own social media platforms and apps. Some people even took to websites like Quora to increase and improve their knowledge.

    All in all, the millennials may have arrived late to the party but they are certainly getting the party started. Indian stock market was one of the very few that not only didn’t crash, but rose!

    I have explored three possible factors that may have spawned the bullish new breed of investors –

    Time : Most millennials had been running non-stop on their home-work-life treadmill. With the lockdown, they possibly ‘paused’ for the first time in their adult lives. Locked up at home, they finally had the chance to think, explore and research their financial options beyond tax saving and old school instruments.

    Technology – this is where the internet, smartphones and zero brokerage accounts come into play. All providers have their own apps and websites to trade from. There is information overload on the internet for people to study, learn and understand the basics. Warren Buffets letter is one of the most searched pieces of investment advice. Millennials are genuinely trying to see the stock exchange as a long term investment instrument vs. a legal casino. Thankfully, unlike a casino, markets have a method to their madness. 

    Motivation and ambition – all this has released a whole variety of investors into the stock market. The new breed range from the cautious and analytical who take calculated risks, to intuitive investors looking to get rich quick, and then some who are exploring and experimenting with smaller amounts. Then there are the seasoned players whose ambitions are taking them overseas. They have taken advantage of select services to even invest in stocks in markets like the USA. After all most Indians may not be able to afford a Tesla, but they could own a tiny part of the company in stock.

    Learning to save and invest

    The Indian equity investors have had an evolutionary leap thanks to Covid. Attitudinally, they went from ‘YOLO’ to jumping right in to learn financial optimisation thanks to lockdown. In a very short time they have moved from fixed deposits to becoming more active investors in equity and even trying to understand debt, derivatives and commodity trading. Perceptually, as they understand the method of the stock market madness, they realise it is not Russian roulette but about data, financials and research.

    As the market in India matures, it will see more investors, a larger portion of household savings enter the indexes, stock investing becoming more mainstream as it enters the repertoire of saving instruments. Alongside this, regulation also continues to evolve to make it safer to park money in and tougher to manipulate like the memory forming incident of the 90s. The markets are already a safe and viable bet for long term wealth creation and a place to park funds to finance many life goals like holidays, education, weddings and retirement.

    While the Indian investor may just be learning to walk, I wouldn’t put it past them to try and replicate the Reddit Gamestop phenomena even before they were out of their diapers. Given the millennial enthusiasm and critical mass, the journey ahead promises to be exciting indeed.   

    The views expressed in this piece are personal and not representative of the client or agency. This project was undertaken in collaboration, and as part of Intertwined – Business Ideas with a Soul Connect. The boutique offers brand strategy with digital and creative services.

  • The Art of ‘pick-up’​ – 6 Approaches F*uck-Boys Can Teach Marketers

    The Art of ‘pick-up’​ – 6 Approaches F*uck-Boys Can Teach Marketers

    Image from Google Images

    Allow me to begin with wishing you a much better year ahead, dear reader. Let’s start the year taking a leaf from the previous post in which we examined how marketers can help further the case for a more liberal and inclusive narrative around sexuality and sexual health. Today, let us see what a F*ck-boy or Casanova have to teach about consumer approaches.

    I will narrate my eye witness account of one of the finer players in pick-up action. The following piece is based on true events. All resemblance to any person living and on the loose is real.

    It all happened one cold winter evening when a friend’s ‘date’ from an app dropped by to say hello. The new person spent the evening deploying different strategies to make his play. He was one of the smoother players I had seen in action, or maybe because we have been in our Covid bubbles for so long. Nonetheless, his methods struck a chord with the marketer in me. So come, be a fly on the wall of this master-class in consumer targeting.  

    Scoping the surrounding

    Upon entering the room, he noticed the décor and tidiness of the place. For the rest of the evening he took over as DJ playing Bollywood’s golden oldies and displaying serial killer OCD traits. Not bad for a right swipe, we thought.

    Marketers too start with ‘consumer immersion’, or intelligence gathering about their consumers – their lives, motivations, fears, aspirations, environment… Businesses then make one of their tougher choices – of ‘who’ exactly to gun for. While instinctively businesses want to sell to everybody, it is essential to keep a target consumer in mind for a more focused approach. Much like how Casanova went after my friend.

    Image from Google Images

    Image from Google Images

    Hit and try

    This is when the subtle mastery came into play. I settled down with popcorn (mentally) to watch a man intent on scoring with a rather uninterested prospect – the chase probably only fuelled him. Thus began the master-class in wooing (customers).

    1. Celebrity endorsement

    Given the boy had recently moved to Delhi from Mumbai, he began building his credibility with juicy details of his celebrity conquests. Little unlikely if one were to judge a book by its cover, and not conviction.

    Subtle message – if I am good enough for a celebrity, you should be lucky to get a part of me.

    Marketing parallel – this is the easier route to building credibility. Typically used by new products to build confidence, or in more commoditised categories to catch eye-balls. We are no strangers to actors and sports stars endorsing everything from salt to automobiles. Would they actually use any of those products personally is anyone’s guess.

    Obvious message – if the product is good enough for the celebrity, it’s definitely good, and good enough for you. Celebrities, and increasingly social influencers inspire public confidence. Influencers increasingly so as they come across as being more authentic and less sales oriented vs. celebrities. Then there is also the added celebrity association rub-off. Imagine eating the same healthy snack as an Indian cricketer!

    2. Simply irresistible

    First approach failing, Casanova quickly changed tactics to how his conversation, dancing and singing skills have won over even the coldest hearts – from both genders.

    Subtle message – I manager to convert even my ‘haters’ with my intangible attributes – confidence, conversation skills, singing, humour.   

    Marketing parallel – marketers too spend considerable time trying to understand what consumers like and dislike about their products vs. competition. They then try to go about trying to win them over by either highlighting their qualities or dispelling misconceptions. Occasionally they attack competition much like the Cola wars in the recent past. Winning over now has begun to include social posturing and demonstrating shared values with consumers.

    Obvious message – give me a chance to change your mind. Not only am I better than you think, I will exceed expectations and ‘delight’ you vs. competition.

    3. The talk-down

    By now my friend’s eyes were rolling at the overconfident name dropper. Discouraged, but undefeated the player tried a radical tactic – the talk down.

    We now heard and saw pictures of the ‘cheating ex’ who had put him off conventionally ’hot’ people. Incidentally, the main appeal of my friend – not being hot! All this while at my friend’s house, with an audience (me) – the nerve!

    Not so subtle message – my ex was way hotter, why are you being so difficult. I have had better.

    Marketing parallel – this is when brands make the consumers feel inadequate by playing on their insecurities and fears. These brands subtly shame consumers into trying a new product or switching brands. While we are familiar with people shaming housewives for not having clean toilet bowls and lacklustre washing, luxury brands tends to lead the pack. This segment has Machiavellian in manipulating consumers to derive self-worth derived from a label irrespective of utility, suitability, aesthetics or value.

    Obvious message – the dire consequences of not using my product – from social embarrassment and inadequacy to personal shame. Consumer brands tend to use the tactic to galvanise consumers into action. Luxury brands ask consumers if they are worthy of their products. Psychology of rejection and shame makes people try even harder for acceptance.

    4. Social sanction

    Things were still going downhill for our suitor. I received a text asking me to not leave before the ‘smooth talker’. Little did I know the next shot would be fired from my shoulder! My polite smiles had been mistaken for approval.

    Subtle message – I have passed the ‘friend test’. You should definitely consider giving me a chance.

    Marketing parallel – the power of referrals and social media. Entire multi-level-marketing (MLM) brands have been built on the power of a trusted, personal referral. Social media signalling has spawned an entire industry of social media influencers. Personal referrals and signals of social acceptance are perhaps one of the oldest ways of gaining acceptability.   

    Obvious message – your friend, or someone you trust has tried and approved of my product, it’s not just a manufacturer’s exaggerated claim. This is demonstrated when apps give incentives to refer downloads, or when taxi apps tell you how many people have ridden even during the pandemic.

    5. The back-foot dance

    By now Casanova realised he needed to tone things down a bit. In addition to the cheating ex, we heard of personal insecurities about his looks and having to resort to humour and charm (albeit a little late) to compensate.

    Subtle message – I am a nice guy under all the bravado. A hurt puppy looking for a home.

    Marketing parallel – this approach is becoming increasingly popular with brands. Authenticity and vulnerability humanize brands and connect at a deeper level with marketing savvy consumers. These traits that have become even more important since the pandemic hit. Kindness as a virtue is making a social comeback led by self-care and mental health conscious Millennials and GenZ.  

    Earlier, brands and big corporations typically took the vulnerability route to handle PR disasters and image repair. However, their apologies and acknowledgement of any wrong doing typically come a little late and ring insincere.  

    Obvious message – I may not be perfect, but I try to understand you and to deliver on your expectations. The new brands admit they are not the ‘know it all’ big guy, but the new kid – who is closer to the consumer, is listening, and has its heart in the right place. The product offers a genuine solution with good quality ingredients. The big corporates try to show their human side typically with stories of frontline workers, fair trade practices, and community projects.

    6. The tease

    Sensing a thaw, Casanova tried to push his luck further. He opened the picture gallery in his phone to show my friend memes, embarrassing pictures of drunken nights and forgettable moments. It was going well until the ‘oops’ pictures were ‘accidentally’ seen.

    Subtle message – this is a trailer of what you will miss if you send me home tonight.

    Marketing parallel – the famous demonstration advertising. We have all grown up seeing TV commercials showing the efficacy of washing powders, toothpastes and soaps. The efficacy is there for everyone to see, and for the non-buyers to miss out on.   

    Obvious message – the clear pay-off. These are the product features and demonstrated benefit. Typically useful to showcase the ‘science’ or effectiveness of products in categories like daily essentials, cosmetics, and technology among others.

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    Curtain call

    Unimpressed, my friend showed the rather enthusiastic suitor the door. While he left my friends eyeballs rolled-up in the sockets, I was seeing parallels with marketing approaches – 6 of them in all.

    There was the celebrity endorsement route, then it was all about converting skeptics and rejecters. These were followed up by the shaming or talk-down which attacks a person’s sense of self-worth. Then there was the back-foot dance which exposes one’s own vulnerability and seems more authentic. Other ways were of social sanction and referral from trusted sources and finally the demonstration route.

    While Casanova may have failed in his original mission, I hope his tenacity has proven to be a quick refresher for seasoned marketers, and helps entrepreneurs identify and choose more focused approaches with better hit-rates.

  • Indian Sexuality’s FUCC(ing) Questions for Marketers

    Indian Sexuality’s FUCC(ing) Questions for Marketers

    Base image from Indian-origins.net

    Hello again dear reader. I am back after a bit of a hiatus. I was busy with a brand consultancy project – for an online sexual wellness start-up; a project that brought up some exciting and interesting insights.   

    For this essay I’ll be sharing my research on the Indian sexual wellness space: what I learnt from it personally, and the possible ways marketing could help usher us into India’s “second sexual revolution.”

    For our research project I scoured through data that blended both secondary research (clinical and cultural studies) and direct interviews. In this piece, I have used ‘the sex products survey’ from thatspersonal.com to illustrate my points:

    image 1.jpg

    India and sex

    Let’s begin with the juicy part of the project: Indians’ cultural attitudes towards sex. This threw up some interesting nuggets such as, smaller towns buy LOTS of sex toys, and women happen to be more regular shoppers of these than men!

    image 2.jpg

    Concerningly, Indians are getting more conservative about things like pre-marital sex and extra marital affairs, despite their own claims that they’re engaging in more pre-marital sex. On the flipside, Indians are more accepting of homosexuality, especially after article 377 got struck down

    Sexual health – or the lack of?

    Moving to sexual ‘health and wellness’; our findings were not as pleasurable. While clinical reports and cultural studies revealed dismal levels of awareness about sexual health as a concept, attempts to speak to both genders about the subject were racked with complications.

    Let’s talk man to man

    To begin with, chatting with men on sexual “health” was tricky. Men were naturally… touchy about discussing such matters. While conducting interviews, I had to tread carefully; I needed to be empathetic, not patronising, and definitely not overly curious – lest I was suspected of finding entertainment in a fellow man’s emasculating misery.

    Predictably, men were quite aware of their sexual health or lack of, thanks to two major factors: One, the obvious anatomical functionality: erectile dysfunction and premature ejaculation being the most common. Secondly, the cultural narrative around masculinity and a man’s penis. It is the sceptre that seems to rule marital relationships, self-esteem, household and social standing among other men.

    Understandably, ideas and any understanding of sexual health and wellness were largely anchored to functionality.

    Heart to heart with women

    Research on women was even tougher given the limited studies on female sexual health and wellness. Access to medical care by itself is a factor of a woman’s education, worldly exposure and family economics. Women’s health falls woefully at the bottom of that list.

    Terms like ‘female frigidity’ used in some clinical studies felt archaic and regressive. The condition was apparently ‘diagnosed’ when husbands complained of their wife’s ‘lack of interest’.

    Below is a table from one of the few studies on prevalence of sexual problems in women attending outpatient gynaecology clinic of tertiary care centre in North India:

    image 3.jpg

    As per the findings, the sexual problems revolve around a woman’s interest and lack of pleasure, causing anxiety and low lubrication, which exacerbates the selfsame issue even further. This issue however, seemed to resolve itself in most cases with counselling about sex not being a sin, and explaining the importance of foreplay. (All this in the country where Kamasutra by itself is a woman’s pleasure-oriented text!) 

    For direct interviews, I was unable to speak objectively to a sample of representative women outside my social circle due to the immense social stigma and judgement of a woman speaking to a stranger (albeit a well-meaning, curious market researcher like myself) about their sex life. So I resorted to speaking to close women friends about their confidential doctor-patient chats, then requested them to speak to their friends with permission to listen in.

    The picture here wasn’t much better. Even in metros like Delhi, women reported discussions centred only on contraception if married, and if single, then were subjected to moral policing and judgement when discussing ‘pre-marital’ sex.

    Where men and women are equal

    While men may enjoy the perks of patriarchy, they stand equal with women on two counts:

    One, sexual health for both genders is deemed unimportant and excluded from general wellbeing.

    Secondly, treatment for sexual health problems are sought and considered important only if it hampers reproduction.

    Thankfully, OTT platforms have taken the cultural lead that Bollywood passed up by openly talking about subjects such as sex, women’s orgasms, and homosexuality. Court rulings on live-in relationships and Article 377 have helped open some minds up to the idea of sexual agency.  

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    Signs of a sexual change

    Encouragingly, younger India seems to be making a sexual u-turn, away from sex for purely procreation towards sex for pleasure! We are also entering an era where women and men have a more open and equal conversation about their desires and pleasures. Experimentation and exploration are becoming a joint hedonistic journey with a more open mind.

    Fornication Under Consent of Culture – marketing implications

    This got me thinking about how brands could reclaim the cultural narrative and guide these cultural shifts to nudge us Indians towards being more inclusive and progressive, in line with the current times.

    Normalise – don’t fetishise 

    The big one would be to ‘normalise’ matters considered taboo. Brands have normalised the promise of sex and innuendo to sell just about anything except sexual wellness. We just need to get marketers to expand their purview.

    Psychology of normalisation – the more people see something in a regular context without fuss, the more likely they are to accept it. What is important is to just spark the conversations among people, from local trains to living rooms. The more we walk about things, the less they surprise or shock us.

    This method has been demonstrated successfully by P&G which included LGBTQ families in their advertising communication. Story books in Scandinavian countries educate children about differences in male-female bodies from childhood – without stigma. While India is far from following the Scandinavian example, surely you get the idea?

    (anti) Climax

    We need to de-link sex, sexuality and sexual health from each other, and all three from their collective stigma. The sexual narrative in India today is a mix of misinformation and negativity.

    We don’t have sexologists in India – but we do have doctors who know how the machinery works. Medical care is also geared up only towards reproduction and family planning.

    Sex education is all but absent. The narrative is around sexually transmitted diseases, unwanted pregnancies, and social stigma. Consequently, people grow up reading advice columns and watching porn which teaches them sexual domination and violence – not mutual pleasure.

    Our conservatism is thrown in our face when generations grow up associating sanitary pads with blue liquid, and condom ads show Sunny Leone trying to simulate an orgasm among pollinating flowers. Ironically buying either product is still considered embarrassing and packeted in black plastic!

    What would be interesting to see is how marketers leverage changes outside the bedroom and influence the Indian cultural libido. Will women’s empowerment lead to more equal sexualisation in communications? Will the ‘sensitive man’ use sex to express love and not patriarchy? Will India’s second sexual revolution allow more leeway to FUCC (fornicate under consent of culture)!

  • Quest for Self-identity and Psychological Security in Brands and Us

    Quest for Self-identity and Psychological Security in Brands and Us

    Image Coutrtesy – Jake’s Blog

    19 articles

    At some point in my marketing career I became acutely aware of how marketers are conditioned to see India through an ‘outside’ perspective. These blogs are my effort to turn the tables, and dig into Indic mythology and scriptures in order to apply their wisdom to today’s marketing and business scenarios.

    Today’s post comes with a personal story. That of sharing personal vulnerability. In times when most of us are dealing with demons old and new, this is to let everyone know that they are not alone and there is a way out of the abyss.

    With life and livelihood settling into a semblance of rhythm, I looked back to my own times of turmoil in my gilded cage. As the world changed, I too went through my own phases and feelings of insecurity, and existential angst. While searching for answers I had a moment of epiphany while listening to a discussion with its roots in the Upanishads.

    This discussion was on the human need for psychological security. I will try to sum up an extremely complex subject to its common denominator –

    1.      Humans attach themselves and their sense of identity to an external collective which gives them a sense of belonging. Therefore, psychological security and anchor.  

    2.      This ‘external collective’ is usually conceptual in nature. Like the idea of a nation, community, group and so on.  

    3.      Because their own sense of identity and existence is anchored to a ‘concept’, self-identity is in perpetual flux over time. Hence, people move from one identity marker to another.  

    4.      Naturally this leaves humans in a perpetual state of psychological uncertainty and insecurity. Ironically the exact opposite state they seek. This perpetuates primal concepts like ‘survival of the fittest’, the idea of ‘us vs. the other’ and so on…  

    While the topic is concerned with people, it felt its principles could also hold true for brands. Let us first look at implications at a personal level –

    1. Identifying the root of personal existential angst –

    So, the modern ‘great plague’ coincided with some life changes of my own.

    I had quit my advertising job and decided to leap into the unknown. Just as I was enjoying movement free of my professional identity, the world on the ground changed – with me mid-flight! Talk about timing! Naturally, I began to question my own relevance and place in this new evolving order.

    Two gears had shifted at the same time. Since neither life, nor the world are mechanical parts, it is impossible to predict where the wheels will interlock again.   

    Personal identity markers

    I was on a new adventure. With flights grounded, my journey went within to meet myself all over again. As with many home-chefs, Dalgona coffee baristas, banana bread experts, I too met forgotten parts of myself. It also made me realise just how much I had allowed ‘other’ people, places, external impressions and tags dictate my notions of ‘me’.

    Light at the end of the tunnel

    As I get more comfortable with the current state of flux, I understand my personal insecurities were a result of my own external projections and what others thought, or expected of me. These became important as I believed these projections and constructs to be true and not a ‘perceived image’.

    Now, let us see how the slipper fits the many Cinderella brands looking for a fairy godmother instead of helping themselves.  

    2. Inherent insecurity of brands  

    Through my marketing career, I have worked on many Brand related exercises. Brand Identity, Brand Purpose, Brand Insight, Brand Image, Brand Relevance… the list is as endless as the quest for enduring answers!

    Existential crisis and crutches

    I realised the need to constantly question, and reinvent arose not because there was anything fundamentally wrong with the products, but because the brands were pegged on external markers.

    A ‘social good’ brand like Toms floundered once barefoot kids in Africa lost their appeal. Beauty soap Lux lost anchorage once movie stars no longer epitomised beauty. Maggi noodles has made multiple approaches since the health narrative around kids and nutrition changed. Patagonia is the current favourite till sustainability and climate change are in vogue…

    The irony of existence

    The entire situation is rather comical-ironical come to think of it. People buy brands because they are insecure in themselves. Brands give them validation, social proofing, quality reassurance, status, and more. The brands in turn seek acceptance and approval from those seeking it themselves!

    A Brands ‘purpose’ tends to hang on pegs like the consumer, culture, societal trends, all of which are constantly changing. So the chase or the quest never ends.

    Strong brands

    So do brands ever find the holy grail of security and self-confidence? Yes they do! Think of the most iconic and popular brands one comes across repeatedly in marketing workshops and presentations. Let’s look at some examples.

    Nike – is about the internal spirit of performance of the shoe and the consumer. Both work to better themselves and compete with their inner demons, not with other shoes.

    Apple – doesn’t compete with anyone but itself. Things are simply ‘shot on an iPhone’. One doesn’t see any competitive advertising mocking competition like the series by Samsung.

    Google – is purely about ‘search’. There is nothing about being better than competition. It works on simply being the best search engine!  

    Conclusion

    The quest for one’s identity and psychological security is endless and eternal. It has been chronicled in the Upanishads, and it has been agonised to the point of insanity by modern day philosophers like Nietzche. In troubled times many flock to spiritual guides or psychologists to help them make sense of their lives.

    Similarly, Brands and Marketers try to reinvent, pivot, refresh, re-focus their businesses and brands. Sadly, they continue to seek external pegs for their identity markers like; culture, society, consumer behaviour…moving shape-shifters really.    

    Perhaps the solution lies in realising the genesis of our marketing thinking and conditioning. The origins of modern marketing lie in western cultures. These tend to be externally oriented and image conscious (fake it till you make it?), fighting it out in this hall of smoke and mirrors.

    It might serve both brand and marketers well to look within and find out what they are genuinely about instead of looking for a fairy godmother. As for me, whether I land on my face, knees, or firmly on my feet, will probably depend on how successfully I manage to find myself, within myself…

  • Relationship Advice for Small Businesses

    Relationship Advice for Small Businesses

    Image from Shutterstock

    At some point in my marketing career I became acutely aware of how marketers are conditioned to see India through an ‘outside’ perspective. These blogs are my effort to turn the tables, and dig into Indic mythology and scriptures in order to apply their wisdom to today’s marketing and business scenarios.

    In the last post we figured out online customer personas for businesses wanting to go digital. Today, let us explore the various relationship stages after the brand and consumer ‘swipe right’.

    While I am no relationship expert, but the following life advice holds true for both, traditional and digital businesses. We will now break away from convention and look at our business-consumer relationship through the lens of the four life stages in Indic philosophy.

    These are Brahmacharya (student years), followed by Grihastha (householder or family phase). Then comes Vanaprastha (retirement), and finally Sanyasa (renunciation).

    For ease of understanding, today’s example is inspired by a ‘non-chemical’ cosmetics brand I use regularly – Arata (this is not a paid post). This is a fairly nascent category that is still trying to gather critical mass. I will also try to keep things a little broad based for you to be able to apply the learnings to your own situation. I will also equate each life-stage with a business cycle stage. Caveats done, let’s start!

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    1. Brahmacharya – student years dedicated to learning the scriptures, worldly affairs and how to be a positive contributor to civil society.

    Business life stage – start-up – this is when the consumer first get to know of ‘chemical-free’ cosmetics as an option. Customers typically would do some online research, visit the company website, and speak to friends and family or even doctors who could tell them more. They then typically buy a safe, entry level product with low investment and usage risk.

    Why? Reasons for trial could vary from proactive pursuit of a healthier lifestyle, or a possible health scare which could make people clean out their chemical closets. it could also be demographics where an entire generation of consumers have come of age, or the new popular narrative fuelled by social media which is making people question their chemical products.   

    Life advice – behave like a gentleman and bring flowers on the first date (at the risk of sounding chauvinistic)! Approach customers with a brief introduction and how your business could improve their lives or be a solution. Answer all questions patiently, maybe even encourage them. Discounted trials and referrals from credible experts could go a long way at this stage to generate trials.  

    After all, the more they know about your business, the faster they will be able to make up their mind to commit.

    2.  Grihastha – the post honeymoon phase when life really starts. This stage of life is dedicated to building relationships, bringing up children and securing material security.   

    Business life stage – growth – this is when ‘chemical-free’ cosmetics are a lifestyle, and people understand the category and products better. They may also start checking out competitive options to see if they can do better. Possibly the business equivalent of the seven year itch, but this stage has the most potential of losing high paying customers.  

    Why? Possibly for reasons of variety or product dissatisfaction. It could also be that a friend has recommended or gifted them a competitive, or upgraded alternative.

    Life advice – keep your eyes and ears open for competition, new opportunities and also your own shortcomings. While the first two are easier, the toughest is spotting one’s own short comings. Consumers often don’t talk about gaps or dissatisfactions. The simply switch to other alternatives. Hence it important for brands to maintain a constant feedback loop with customers. This helps in upgrading and upselling products, aids new product development and innovation. This would also be a perfect time to introduce a loyalty program for repeat buyers.

    3. Vanaprastha – when active parenting evolves to becoming consultants and guides as grown children learn to figure out the world themselves.  

    Business life stage – maturity – by now purchase, consumption patterns and brand loyalties are fairly set. While this means assured sales, it also indicates stagnation.

    Why? Consumers use your products for specific purposes amongst other brands. This could mean they are probably nearing their ‘frequency of usage’ saturation point. There may also  have been life or cultural changes driving the category, like safer chemical cosmetics, changing requirements, cosmetic trends, or even more accessible permanent treatments.

    Life advice – start reading in between lines more carefully than ever! As an independent business owner you have a gold mine of consumer data, digital and social media trends. These should be able to tell you what consumers are searching online, new cultural trends, competitive developments, and pertinent lifestyle changes among other insights. This could shed light on product innovations, possible consumer touch-points and even tweaks to messaging patterns.

    4. Sanyasa – this final stage is of world renunciation. Kids are busy building their own lives and grandkids are life’s big joy.  

    Business life state – decline – when ‘chemical-free’ cosmetics are no longer a novelty and people feel these products no longer serve the purpose they once did. Consequently usage is decreasing and in some cases stopping altogether.

    Why? Well, for one, a particular product could no longer be required, or perhaps a superior product within the category has taken over. It could also be due to moving to safer and more advanced chemical based products or other specialised products for enhanced results.

    Life advice – first make a strategic call of wanting to continue the business or cutting ones losses. It is possible the business may have run their course and no longer make sense.  

    Alternatively, listen to what the consumers don’t say! Businesses need to keep track of even subtle changes in within their own category, competition and consumer behaviour also in related categories (like Ayurvedic and medicated cosmetics in this case). This could be a possible opportunity to reinvent the business itself to something new and more relevant.

    Conclusion – this lens of life-stages is applicable to both, business life cycles and customer relationship life cycles. However while businesses follow a set trajectory, relationships with customers can start at any of the four stages.  

    This framework should be helpful in slotting customers at various relationship stages so businesses can modify their behaviour accordingly. These relationships could last a single stage or start a cycle midway. By example, businesses lose many customers after a trial, but then a regular user (in the decline stage) may discover other or new products taking the relationship with the same customer to stage one!

    In addition to these life stages it is extremely important to work business development at all times. Only once you get prospective clients can you convert them into regular customers. However, always ask yourself and your customers ‘why’. Why customers choose your business so you know what you did right, and what you can improve. After all building relationships in the era of swipes is tough work. 

  • Creating “Online”​ Dating Profiles for “Offline”​ Businesses

    Creating “Online”​ Dating Profiles for “Offline”​ Businesses

    Image from GQ

    At some point in my marketing career I became acutely aware of how marketers are conditioned to see India through an ‘outside’ perspective. These blogs are my effort to turn the tables, and dig into Indic mythology and scriptures in order to apply their wisdom to today’s marketing and business scenarios.

    Today’s blog too will look a current topic of how smaller businesses are finally getting ready to make the digital commitment. This comes after years of eyeing digital from a distance and hesitating before committing to the inevitable. However, first, businesses need to be clear about ‘who’ their customer is.

    Romancing from a distance – hesitation of businesses

    This circling of one’s fate is not new. It reminded me of the part in the Ramayan when Ram and Sita first catch sight of each other in Janak’s (Sita’s father) royal gardens. They keep looking at each other from a distance and fall in love. They know they want to be together but need fate’s intervention.    

     

    Mustering the courage – making a digital move 

    Fate has intervened and now Indian businesses ‘need’ to go online to survive and grow. They can no longer delay making their move. Some neighbourhood stores are already experimenting with Whatsapp, as larger businesses plan their big digital weddings (no Zoom invites for these). In many family enterprises the younger generation is seizing the opportunity to digitise their businesses. Much like how sixteen year old Ram got his turn only after older kings had failed. 

    Facilitators of fate – dreams of digital growth

    However, even Ram needed Rishi Vishvamitra to convince King Janak to give the young prince a chance.

    Similarly businesses keen to go digital seek ‘matchmakers’ to fulfil their digital dreams. These digital experts promise snazzy websites, huge web traffic, eye catching ads, people clicking and buying, unimaginable scale and fame. These promises are backed by measurable, empirical data, which is digital’s big strength.

    However, it is important to not get carried away with the planning so much that businesses forget who the effort is for! 

    1. Understand what you want – digital customer groundwork

    Before the Swayamvar, Ram did his homework on Sita. He learnt of her birth and her qualities as a young woman. Sita on the other hand was smitten by the handsome prince in the park. Thorough homework landed Ram a dutiful wife, and Sita wound up in a forest. 

    Similarly, it is extremely important to understand your digital customer. There would be many more aspects to the person businesses have been dealing with offline so far.

    This is also the part of the job that cannot be outsourced. Even matchmakers ask people what they are looking for in a partner.

    So let’s look at some ways to make this critical job easier.

    2. Image of the ideal partner – building the customer imagery 

    Just as Rishi Vishvamitra painted the picture of Sita as the perfect spouse, businesses too need to build an ‘ideal customer’ profile. The traditional approach tends to list variables like; socio-economic strata, age, gender, geographical address, education… A typical customer profile would read like; SEC B, female, 25 years, postgraduate degree in computers, lives in Madurai, working for an IT company.

    This doesn’t tell us WHO she is, and why should she care about what your business.

    So let’s try a simple, step by step method of building a customer persona for an online sari business –

    – Step 1 – do you ‘know’ an actual person who could be your ‘typical’ customer? This could be someone amongst your own family and friends. It could be the vegan friend who is always looking for organic ingredients, the uncle with the ageing rock music phase ponytail, or the brand conscious cousin. 

    Agnostic of gender, age, race, this is about identifying a ‘real’ person who you want to go after. Depending on the type of business, this could work as an outline, or sometimes things fall into place at this stage itself.

    An online sari shop could want to target people like actress Rekha, or Anushka Sharma. This would be two very different sari clients. While one sports traditional weaves, the other is more contemporary and experimental.

    Example – let’s say we want to target Anushka Sharma

     

    – Step 2 – try using personalities. These could be celebrities, characters they play in their films or TV series, or even from a book. This helps giving an ‘attitude’ to the silhouette identified in the previous step.

    Our online sari store could go after one of the characters from a web series like ‘Four Shots More’, or a traditional Indian woman played by Jaya Bachhan in Kabhi Khushi Kabhi Gam.

    At this stage try to stay away from stereotypes, unless it adds a dimension to the character you are building.

    Example – our ideal customer is Anushka Sharma from When Harry Met Sejal.  

     

    – Step 3 – what does this person like? This is about granular specifics like; hobbies (music, gardening, reading), food preferences (Asian, Pizza, Indian), holiday destinations (beach, mountains, cities), other brands they buy (high-street, niche, organic), interests (traveling, yoga, trekking)… This helps round off the person in a little more detail and make the persona clearer.

    Example – Anushka Sharma from When Harry Met Sejal. She loves traveling, trying new food, movies and shopping.

     

    – Step 4 – what role would your product play in peoples’ lives? Can it solve a problem, or make life simpler? This is about ‘relevance’ and ‘rational’ reason to purchase, and not sales.

    By example, does your business save time, provide variety, convenience of click and delivery, assured quality? Or is it a wardrobe solution for a family function or office meetings? Or is it about region specific products, or propriety designs.

    This is when businesses start looking for, or creating the unicorn called the USP (Unique Selling Proposition). Reality is that most businesses are ‘different’ from one another but not unique. This step is about finding what differentiates your business from competition. 

    Example – Anushka Sharma from When Harry Met Sejal. She loves traveling, trying new food, movies and shopping. She is looking for a mix of traditional and contemporary saris for her wedding trousseau.   

     

    –  Step 5 – let’s look at the sociological or psychological needs your product could fulfil. This is the emotional gratification customers get so they can ‘justify’ their choices.   

    Does the product make them stand out, seem tasteful, show an appreciation of Indian weaves, or maybe project power in a boardroom?

    Trick is to avoid generic terms like happy, special, cheerful, pretty… It’s important to think of how you want to ‘make your customer feel’.  

    Example – Anushka Sharma from When Harry Met Sejal. She loves traveling, trying new food, movies and shopping. She is looking for a mix of traditional and contemporary saris for her wedding trousseau. She loves draping these in unconventional ways to make a statement while modernising tradition.  

    The perfect match 

    The above description is only one possibility in the digital world. More importantly, it is a starting point. Businesses can always add more details, refine and even redefine these personas basis various indicators.

    What is important is to pause a moment before making the digital move. Understand which kind of customer you want to target first. Once you know who you are looking for, communication touch points, occasions, messaging, media selection, results, all begin to fall into place. Almost like stars aligning for the perfect match as they did for the divine couple.

  • Inherited Antibodies of Indian Entrepreneurs

    Inherited Antibodies of Indian Entrepreneurs

    Image from Istock

    60% of B2C Indian start-ups are facing closure as per Nasscom survey

    Reading such news in the papers is disheartening for people who birthed ‘jugaad’ and embody the essential spirit of entrepreneurship, that of overcoming and circumventing all systemic and social discouragement.

    The Indian Entrepreneurship Dream may seem sick but it has everyone rooting for its recovery. This time, not from cheap substitutes, but a mass disseminated virus from the across the same border.

    In this piece we will explore how Indians subconsciously draw on their ‘cultural inheritance’ as they intuitively fight for their businesses.

    However, before we start our journey let us not underplay the importance of cash in keeping a business running (about 40% start-ups are considering shutting down) but instead, look at mental fortitude and strength that keep an entrepreneur going.

    These times remind me of another existential crisis that possibly left the Indic psyche with strong antibodies that last generations.

    Last big existential crisis

    Yes, I am referring to the conversation between Arjun and Krishna on the battlefield of Kurukshetra. The finest warrior of his time lowered his bow refusing to fight the most important battle of his life, overwhelmed with existential angst. His charioteer and guide Krishna persuaded him otherwise. The rest is of course history or mythology.

    Inherent immunity and Indian entrepreneurs

    So, let us look at some existential questions Indian businessmen are possibly dealing with in these times. What follows is a combination of secondary research and conversations with businessmen and start-up entrepreneurs across a variety of sectors.  

    Paralysis in crisis – just as Arjun was paralysed with immense fear that made his bow fall from his hands, Indian businessmen were caught by surprise with the virus and its consequent lock-down.

    Inherent immunity – instead of panicking, most entrepreneurs used the pause to look at the larger picture. Used to systemic setbacks, these unfazed warriors took some time out from constant fire-fighting, reflected, and drew up contingency plans. While social media congratulated them on their Master Chef potential, they were calmly planning their post-lock-down moves.  

    Compassion and karma – Arjun was overcome with compassion for his relatives and teachers who he would have to fight and possibly kill. Similarly, most businesses have avoided lay-offs as much as possible.  

    Inherent immunity – instead they deferred or cut salaries reserving the biggest reductions for themselves. They unconsciously followed the ‘businessman dharma’ by protecting their employees the best they could, even at personal cost.   

    Lay-off carnage – Arjun questioned any joy arising from the hollow victory after killing his own kin, subsequent loss of cultural heritage and not having anyone left to celebrate with. Similarly, business people and HR professionals have expressed deep anguish at layoffs.  

    Inherent immunity – businesses fired employees sparingly as possible. People have tried to hold on to senior, or founding employees to preserve the organisational culture and ethos expecting to rebuild new teams with the same values.  

    Krishna’s persuasion

    Krishna proceeded to give Arjun an extensive discourse on existential philosophy to persuade him. Below, are some take-outs that I felt could be helpful for businessmen –

    – Don’t be afraid or act from a place of fear – Krishna tells Arjun to proceed fearlessly for he has nothing to worry about.

    Similarly, this is a time for bold decisions that businesses may have been avoiding. This re-boot has given people opportunity to take those chances.

    By example, Cult Fit started online exercise and yoga classes when physical gyms were locked down. While the loss of revenue is real, they have embraced technology and the possibility of reaching people and places remotely even after things open up.

    – Perceived identity and realities keep changing – Krishna told Arjun those he considered his friends today could well be his enemies tomorrow. There are no fixed realities and identities. Only our mind that puts them in certain contexts.

    Similarly, businesses should not be afraid to re-think their core business, business models, or delivery models. An idea can live in different forms much like a soul changes the physical body.

    By example, Zomato has already applied for alcohol delivery licenses across states. Retailers have embraced video calls for a virtual retail experience and mobile payments.

    – It is better die gloriously in war than run away like a coward – Krishna reminded Arjun that his duty as a warrior (Kshatriya Dharm) was to fight, not run away.

    Similarly, the undying spirit of entrepreneurship calls for not surrendering to systems and circumstances.

    Shutting businesses is always painful; like killing a dream, or a child and losing a part of oneself in the process. A closure shouldn’t be in surrender but a glorious fight with no regrets. Possibly even a strategic retreat so entrepreneurs may live to fight another day, maybe in another form.

    To conclude – businessmen and professional existentialism are no strangers. An entrepreneur perseveres and overcomes self-doubt, naysayers, red-tape and other set-backs regularly. However, very few get a moment to wonder about the inexhaustible spring of cultural inheritance that’s guides them subconsciously.   

    Krishna-Arjun existential discourse is possibly one of the many sources of wisdom we draw upon in crisis. For now, let us remember to act fearlessly, do the right thing, and have the discrimination to choose what to preserve and what to let go, as we re-think, reinvent, and re-emerge from these times. The meek may inherit the earth, but they never rule it. 

  • Why Gen-Z is Forcing a Management Style Reboot

    Why Gen-Z is Forcing a Management Style Reboot

    Image from Revenue-hub.com

    With this generation of workers respect cannot be ‘demanded’ nor taken for granted, but earned!

    While in the last post we looked at what Gen-Z consumers expected from their brands. In this post we will shift the lens to the managers at these corporations. So, let’s explore together how this set of professionals might just make managers adjust to them, instead of the other way around! 

    Same yet different

    So we know this generation is more like a software upgrade from the Millennials. These Gen-Z 18-25 year olds have similar social and cultural values as their predecessors, but take things a notch further. Gen-Z has graduated from the Millennial social media outrage to actively trying to change what they don’t like.

    The deviation tends to become more apparent when they exchange protest arm-bands for suits. Gen-Z has come of age through an economic recession and a planet past the ‘save-by’ date. Being made to clean up after the previous generations’ hedonism and denial of it’s impact, has made Gen-Z practical and pragmatic in some ways.

    Gen-Z pragmatism

    A recent study by Deloitte tried to verify general impressions about Gen-Z formed over time by blogs and other studies. Below are some hypothesis they confirmed –

    – Pragmatic professionals – they want financial security and not particularly looking to do what they ‘love’ like the Millennials

    – Shop-in-shop work model – they prefer being entrepreneurial within the safety-net of a stable environment unlike the start-up Millennials

    – Individual workers – this generation prefer being individual contributors but not isolated unlike team player Millennials

    – Work for brands they like – they prefer working for brands and organisations they interact with in their personal lives

    – Value sharing – quality product and service is a given. It’s the company’s core values and ethics that this generation want to connect with

    Of these, the last two stood out for me. While brand familiarity might bring these workers through the doors, a shared value system would be needed to retain them.

    Currency of authenticity

    Now, one look at the management legacy of the retiring Boomer managers (50-60 year olds) and the people they have trained, and you can almost see Trouble! This generation seems short on patience and are not afraid of ‘calling people out’ on their double standards, platitudes and inaction.

    By example, Unilever was forced to drop its ‘colourist’ products, albeit in name only, and closer home young people are downgrading Tik-Tok with nationalistic fervour. 

    Gen-Z is ‘demanding’ authenticity and they don’t seem to be in a mood to stop until they force a management reboot.

    Seeking authenticity in leadership

    So this naturally leads us to investigate ‘authenticity’ in the leadership context. Here I have tried to explore three parts of authenticity –

    1.      Transparency – this generation wants to know why they are doing what they are doing, what impact it will have on the world, if it’s the right thing to do. They want to know where they fit into the scheme of things.

    Implications – managers need to be upfront and clear about what they are asking these professionals to do, given them the entire big picture instead of just telling them to follow

    2.      Responsibility and accountability – this generation has a different concept of hierarchical distances within an organisation. They are not afraid of speaking up, asking tough questions and holding people accountable irrespective of seniority.

    Implications – managers stand to lose the ‘immunity of seniority’ that they enjoyed with previous generations. Gen-Z will no longer let their managers get away unquestioned. Possibly even bordering on how children hold their parents accountable when asked to ‘do as they are told’ and not ‘as they are shown’.

    3.      Vulnerability – this is a big winner with Gen-Z. This generation acknowledges that it is only human to make errors. Their problem lies in denial, shifting blame, and not fixing whats broken! Admitting mistakes is not something associated with older styles of leadership where getting any kind of apology is akin to pulling teeth. The younger people acknowledge that people make mistakes.

    Implication – managers who put aside their ego and admit their mistakes find their teams more than ready to help them fix things. The old-school managers who stand stiff break with the wind as their own teams allow them to take the fall they deserve.

    To conclude, I think it’s safe to say that the era of the ‘tough boss’ who was above reproach is coming to an end in the board rooms. 

    Gen-Z want managers to be honest and transparent with them about, not just their role in the larger scheme of things, but also their larger impact. They seek accountability and someone who is not afraid of admitting their mistakes and fixing things when they go wrong. 

    As the corporate world readies to welcome a new generation of professionals, it is perhaps for the first time that new entrants are re-writing the management rule-book for their managers.

  • What Do Over 2 Billion Gen-Z’ers Want From Brands?

    What Do Over 2 Billion Gen-Z’ers Want From Brands?

    Image from Medium.com

    “Gen Z expected to make up for 32% of the global population, with India’s Gen Z population crossing 472 million” – Bloomberg

    Organisations have always struggled with trying to know what customers ‘really’ want from them. I too have worked long and hard on trying to uncover and understand consumer motivations, insights, trying to read in between lines of what is said and meant by consumers.  

    However, what happens when the customer DOES tell you what they expect from brands. The new customer may still not be clear about what they want from products. However, they do know how they want their brands to behave in the real world.

    When I say ‘real world’, I mean the changed eco-system of target consumer and values they hold dear. These key characteristics change for each generation and marketing follows suit.

    For this piece let’s look at the how Marketing Managers might be able to ‘get the pulse’ of their new customers.

    The NEW customer

    There has been a change of guard amongst the Marketing heads. The ‘Boomers’ (roughly 50-60 year olds) known for cut-throat marketing and management as we know it, are retiring. They are being replaced by the Millennials (roughly 28-35 year olds) who are said to be less hard-nosed and more work-life balance oriented.

    However, what stays the same is the bloody competition to woo the new big consumer set. In this case, Gen Z (roughly 16-25 year olds). This set is a natural evolution of their predecessors, like a software update. They picked up where the previous generation left off and are pushing the boundaries on all fronts. For this piece I have drawn on my own research experience and the latest MTV Youth Study.

    Gen Z Software upgrade

    So this generation is more online, more connected on social media, more into gaming, more fame pursuing (reality show stars to social media influencers), and yet more pragmatic about not needing to like their jobs to make money… They are more ‘human values’ driven and are vocal about them.

    Gen-Z has moved from the Millennial arm-chair activism of Facebook statuses to being more ‘active’. They have moved from ‘wanting change’ to actually ‘making the change’ happen. This is generation WOKE, and expect their brands to be too!   

    Generation ‘WOKE’

    The single biggest observation of this can be seen with the race and gender equality protests in the United States. Maverick ice-cream brand Ben and Jerry’s was applauded for speaking up against ‘white supremacy’. Other brands came under fire for fence sitting or not speaking up.  

    Closer home, the Indian youth has been most ‘vocal for local’ as they call for a boycott of mobile phone applications and products from our hostile neighbour. They have also called out Bollywood on its nepotism and bullying like never before. This has resulted in actors and directors losing hundreds of thousands of followers within days, lawsuits being filed, petitions being signed for audience boycotts…

    WOKE Brand Leadership

    In such times, any brand not ‘woke’ enough risks being alienated or becoming irrelevant. I have tried to list some values that businesses would need to share with their with new consumers –

    – End the tactical ‘brand hustle’ – many Brand Managers try to ‘cash-in’ on social media topicality. They don’t realise that this opportunism costs the brand its ‘authenticity-creds’ with Gen-Z.

    It takes effort, consistency and a bit of daring, to build and sustain ‘Amul’ kind of communication.

    – Authenticity – this generation holds brands accountable for their actions, i.e. putting their money where their mouth is. Gen Z seeks authenticity from their brands given they have been saddled with cleaning up after the ‘Boomer-Millennial’ party.

    By example, competitor shoe brands Adidas and Allbirds are collaborating to come up with lowest carbon footprint shoes. Unilever has decided to ‘carbon label’ all their products to demonstrate a shared concern for the environment and climate change.  

    On the flipside, Starbucks’s ban on employees wearing t-shirts protesting racial discrimination had to be reversed and replaced hastily with specially designed t-shirts.    

    – Inclusion and progressiveness – this is the most inclusive generation, embracing diversity of race, gender, sexuality, equality, and forcing brands to take a stand.

    By example, the ripple effect of racial protests in America, led to Clean-n-Clear stop selling fairness products in Asia and Middle East. The Indian ‘dark is beautiful’ campaign, fashion shoots and TV commercials with ‘dark skinned’ women, all reflect the social change.    

    – No more shaming – while the ‘Boomers’ may call this generation ‘overly sensitive’, the truth is Gen-Z are more self-aware and vocal about issues that no one ever spoke about; body image, skin colour, sexual preferences, bullying, exam pressure, poverty… This is a generation that ‘shames the shamers’.

    Zomato’s tweet in response to a customer’s demand for religious discrimination among delivery personnel went viral for all the right reasons. One potentially lost customer was rewarded with greater brand loyalty among Gen-Z.  

    – Vulnerability – this is a BIG one! Gen Z doesn’t want excuses. They understand people and brands can make mistakes and occasionally slip-up. What matters to them, is that Brands own up to them and ‘fix’ things.

    By example, Facebook’s Cambridge Analytica scandal and BP’s oil spill (mis)management and subsequent apology could be case studies of ‘how not to’ apologise.

    On the other hand, smaller brands tend to be more honest and upfront with their consumers. Perhaps, because they are closer to them than large brands. By example, Indian home décor start-up, The Wishing Chair sensed their customer’s underlying vulnerability and anxiety during Covid-19 and started a newsletter with content to help distract them.    

    To conclude, the Brand and Brand Manager teams are navigating unchartered territory. The consumer is well informed with unlimited access to information and the means to disseminate it. Smoke screens, lack of transparency, vagueness, opportunism doesn’t work with this generation of consumers. They clearly seek brands that share their ‘human’ values; authenticity, vulnerability, and inclusiveness. It is therefore, imperative for Brand Managers to think ‘as’ the Brand and do the ‘right thing’. After all, what’s a relationship without honesty. 

  • Save the Brand – Kill the Brand Manager!

    Save the Brand – Kill the Brand Manager!

    Image from: wallpaperflare.com

    As I mentioned in my last piece, in this one we will explore the relationship between the Brand and the Brand Manager. Despite the heading, I am no Marketing Tarantino out to kill Brand Managers, nor do I have anything personal against them. Disclaimers done, let’s dive in…  

    Brands – the third person

    Let’s start with some common phrases we must have all heard, or used ourselves when working on brands or dealing with Brand Managers (or other marketing ranks) –

    – “Where can we take the Brand?”

    – “The Brand needs to do this”

    – “This is not the direction I want the Brand to go”

    – “Where is the opportunity for the Brand”… the list is endless.

    Nothing out of the ordinary in referring to a brand like that. However, what I always found odd was how the brand was ‘person-ified’ or referred to as a ‘third person’, and treated like an inanimate entity basis convenience. While the importance of getting into the consumers mind and mining insights has been discussed even after the world was forced to sit at home, there have been few crusaders calling for Brand and Brand Manager ‘unification’.  

    Brand – the ‘third person’

    This duality struck me afresh as I revisited Kabir’s poetry. In this one he uses an analogy from the Upanishads, that of twin birds sitting on an upside down tree. The bird on the lower branches (Bird 2) is busy tasting various berries, while the Bird 1 observes silently. Bird 2’s quest for sweet berries amidst the sours ones keeps taking it higher on the tree till it reaches Bird 1, which has been sitting still and calm. This is when Bird 2 merges with the Bird 1, losing desire for berries altogether.  

    In the context of Kabir’s analogy, the Brands Managers are like Bird 2. Restless and in search for the next big opportunity to leverage the brand, gain share, exceed targets. This quest naturally yields mixed results as they did for Bird 2. All this time, like Bird 1, the Brand observes the Brand Manager patiently…

    Brands and Brand Managers

    As per Low & Fullerton’s book, the birth of Brand Managers (and their berry hunt) can be traced to 1931 when P&G decided to have dedicated Brand Managers to handle the marketing and related activities for each brand. The model hasn’t changed much since.

    The Brand Managers continue to be called by many names; guardian, gate-keeper, owner, stakeholder, custodian… all signalling ‘ownership’ of the brand. This automatically creates a separate ‘other’.  

    The brands in turn are treated like possessions. Vocabulary revolves around ‘exploiting’ marketing opportunities, ‘milking’ the Brand or its communication, ‘building’ Brands and Brand Equity… all signal towards asset owners seeking to maximise their gains.

    The Brand Managers are under constant pressure to maximise brand performance given increasing competition, higher targets, shortening planning cycles. As a reward, they live to see another month or quarter and perhaps get that increment and promotion.

    Result of duality

    This pursuit of personal-professional gain often yields mixed results. Sometimes, even at the risk of alienating customers. Let’s look at a recent example of a ‘classist’ ad for a dough maker which had to be retracted. This ad was one amongst many other Brands trying to exploit the Covid-19 opportunity.

    It had a clear rationale to push purchase, that of personal hygiene while hand-kneading the dough. A perfectly reasonable proposition given our blind war against a crafty virus.

    The missed aim

    The “approved” communication misfired with its clearly elitist point of view which questioned the hygiene of middle class India’s domestic staff. The offensive ad was subsequently retracted though it may continue to haunt the Brand in its internet afterlife. One only hopes the person concerned lived and learnt.

    This is a classic case of the duality. Now, had the Brand Manager thought ‘as’ the Brand, they would have realised that Indian homemakers share a complex bond with their domestic staff. Within social hierarchies, lie mutual empathy and protective camaraderie.  

    What could have been done?

    One possible solution could have been for the Brand to question the very method of kneading dough and replacing it with an ‘untouched by hand’ alternative.

    This marketing blooper happened at a time when 71% percent urban Indians don’t want brands to exploit the pandemic and 79% feel brands must show how they can be useful in such times. This Kantar research clearly shows consumers expect ‘humane authenticity’ from brands in these times.  

    How to end the duality?

    We need to fundamentally change the way we think, speak and act in this relationship. Here are some suggestions –

    – Stop dating and ‘move in’ – idea is to not to think only of personal benefits like promotions or increments, but also about the Brand. The thinking needs to change from ‘what’s in it for me’ to ‘let’s do this together’. When the two work as a team, the results are always better.

    – Change the vocabulary – the language needs to move from ‘possessive’ terms like manager, owner, custodian to relationship oriented terms like, partner, spouse, buddy, team… only when we use these terms will we ‘feel’ and ‘live’ them.  

    – Change of command – realise that in this chicken and egg situation, the Brand came first and Brand Managers later (around1931). Therefore, keeping the interests of the Brand before the gains of the Brand Manager is akin to nurturing the goose that lays the golden egg.

    – Think AS the Brand – one could start by asking questions like, “what would ____ (Brand) do if it was a person?” instead of trying to leverage or exploit every given opportunity. Getting ‘under the skin’ of the brand will intuitively lead to the correct answers.

    To conclude, I feel marketers, brands and consumers have evolved over time. Marketing has moved from glamorous aspiration to desirable authenticity. Biggest live example is the social media posturing by brands in the United States as they throw their lots behind race and sexuality issues amidst protests and pride in the same month (2020 really messed up their marketing calendars). The ‘authentic’ ones get new consumers and loyalty, while the ‘posers’ get flak. The brands that will succeed in the future will be those where the Brand and the Brand Manager stand united, on a single stage vs. a Brand Manager propping up a ventriloquist’s puppet.