Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Ms. Shilpa Desai, GM & Head of Marketing Cross-Sell and CSR, Fullerton India Credit Company Ltd
- Mr. Anand Bhatia, Chief Marketing Officer, Fino Payments Bank Ltd
- Ms. Geeta Chauhan, Marketing, Branding & Communications Head, Atom Technologies Ltd
- Ms. Khyati Shah, Co-Founder, Klubzs – Mobile and Web Application
- Ms. Manisha Gudka, Founder Sapientia Family Office Solutions & Former Investment Banker at Ernst & Young
- Mr. Shirsha Ghosh, Co-Founder Torit Innovations
- Mr. Kamonasish Aayush Mazumdar, Founder & CEO at Foodieverse
- Mr. Ishan Vaish, India Partnership Manager- Worldwide Developer Relations, Apple
- Mr. Riaz Maniyar, Founder & CEO at easy2lend.com
- Mr. Taron Mohan, CEO & Promoter, NextGen Telesolutions Pvt Ltd
- Mr. Abhishek Arun, Chief Operating Officer, Paytm Payments Bank
- Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Well, every one of us has seen full-page advertisements in the newspapers and the very first comment that straight away we utter is how much has been the cost of such a huge advertisement. FIAKS community questioned- Do full-page advertisements in newspapers help in giving banking experience of integrity, transparency, and trust? Millions of dollars are blown under the name of branding building. Now here’s some food for thought:
Question 1: Should these expenses be made from the profits that the banks earn?
Question 2: How can loss-making banks spend such monies? Shouldn’t regulator cap such expenses?
Question 3: Isn’t this a right time to rethink your Marketing Strategy and Budget allocation
Some top marketing leaders from the community presented their views on Question 3 on the rethinking marketing strategy.
Ms. Shilpa Desai, GM & Head of Marketing Cross-Sell and CSR, Fullerton India Credit Company Ltd said that we’ve heard this often – Banking is important, banks aren’t. Similarly, access to news is important, not the form or format. Unlike a laid back viewing that traditional mediums like Television or Print offer, Digital and newer forms of media are hyperactive mediums, that compel you to think, react, and participate in the conversation. Media vehicles are moving away from the traditional “One to Many” Broadcast approach, to a more personalized “One to One” customization approach. The ability to segment, target, and appeal to micro-segments of audiences that non-traditional mediums offer, makes them rethink the ROI such media channels offer their advertisers. Large formats work when the objective is to create large scale eyeball connect, while the true value is demonstrated when every rupee spent gets twice as much earned. With attention spans dropping, consuming news on the go becoming hygiene and customized content becoming the new normal, it’s a matter of time that the balance between traditional media v/s non-traditional media outlays will tilt in favor of the latter. Sooner than later.
REGISTER and READ Views of several top leaders