"Marketing of the future will leverage a much richer understanding of not just consumer data but also their predictive behaviors to influence them even more impactfully through technology-driven marketing".
1. Tell us about your background and journey.
I come from an engineering background, post which I had a short start-up stint, followed by a brief tryst with the IT sector in TCS, working on SAP. In an interesting turn of events, I chose to drop off XLRI to pursue TATA Group’s flagship Leadership Program –TAS (fka Tata Administrative Services), post which I worked for multiple TATA Companies across sectors like Power, CSR, Chemicals & FMCG.
My stint with TATATEA made me develop a strong penchant for FMCG. This started my Sales & Marketing journey, and I have been fortunate to lead large-scale flagship brands, core portfolios, and campaigns for TATA TEA, followed by leading the flagship portfolio of Parachute for Marico. I now lead marketing for the Saffola Foods Business at Marico. Long story short, it's been a fun & exciting journey.
2. What has changed about marketing in the last decade and what will be the future according to you?
The last decade has seen an unprecedented amount of consumer information capture and its availability to marketers. This has opened up significant opportunities for marketers to understand consumers like never before, leaving them with significant opportunities to sharp target consumers from a multitude of dimensions and curate contextual messaging through content, down to even one consumer at a time. This is a marked deviation from the one-size-fits-many marketing approach of the past.
However, as we progress into the next decade, further digitization of our lives is inevitable and thus the marketing of the future will have a much richer understanding of not just consumer data but their predictive behaviors to influence them even more impactfully through technology-driven marketing.
But that might be just one side of the story as there increasingly is, and will be more consciousness and regulation around data privacy. Even brands will be far more exposed to consumer scrutiny. So interesting times are ahead for both consumers & marketers!
3. You mentioned contextual messaging through content. What is and will be the role of content, for marketing?
Content is an outlet to serve one's mindstate. The content we consume has a lot to do with the mindstate we are in and if it ticks the right chords, Voila! So while the formats can keep changing, the role of content for humans has, is, and will continue to remain the same. Thus when brands think of creating content, it needs to be content first and brand second. Contentification of the brand is likely to be more impactful than brandification of content.
4. What kind of content is best suited for B2C marketing?
It depends on multiple factors, and especially on the task at hand, but from a consumer point of view, the more rational the consumer's needstate, the more opportunity for the brand content to leave the consumer "informed". However the more irrational the consumer needstate, the more opportunity for the brand's content to leave an "impact". As humans, we are irrational beings, and hence my own belief is that the more irrational the brand connects the better the impact and stronger the bond between the brand and its consumers.
5. How do brands create impactful content?
There are various aspects to building impactful content but to mention a few, building from above, one aspect is to own a story-worthy thought that can be told to consumers in a multitude of avatars. Brands with a clear purpose are likely to do this well. Similarly, the more seamless and relevant the brand integration, the more impactful it will be for the brand.
6. Which is your favorite book and why?
I have been deeply influenced by Steve Jobs. His life story, philosophy, and marketing thoughts are an inspiration for me and thus his biography by Walter Isaacson happens to be one of my favorites.
7. What is your greatest life lesson so far?
I grew up in an environment where interests in psychology, astrology & theology ran deep. So as I grew up, I was always in the midst of rich conversations around human values and behaviors and thus the top life lesson for me has been to understand that "the human angle is always first". Working for iconic institutions like TATA & Marico has only strengthened this belief and be it business, leadership, or marketing - this lesson has always helped.
8. A piece of advice that you would like to share with future marketers?
The role of marketing has evolved over the years and the expectations from marketers are ever-increasing. Marketing is not an end in itself, but a means to a larger business goal. Keeping a constant eye on the end consumer and the larger business goal leads to a win-win for all stakeholders.
9. Lastly, one piece of content that you would advise marketers to watch.
I recently watched AIR - a story of greatness. It's a marketer's delight!
Disclaimer: The opinions expressed here are solely my own and do not reflect the views or opinions of any of my current or previous employers.
Brief Bio: Vaibhav Rathi is a business leader with diverse experience spanning 15+ years across FMCG, Technology, Power, Chemicals & Education sector. He has held leadership roles in Sales & Marketing leading large teams, brands, and relationships.
Interviewed By - Rakhi Sharma
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